McCormick messenger. (McCormick, S.C.) 1902-current, August 09, 1945, Image 2
MeCORMICK. MESSENGER, McCORMICK, SOOTH CAROLINA Thursday, August 9, 1945
•JURlIKiK MES3SENGKR
i MIWM Every Tbendey
^ ■Mebllshed June ft. IM
| ■bmond j. McCracken,
Editor and Owner
at the rest Office at Me-
ek, S. C^ as maU matter of
Bend -
> dpMCRirrioN rates:
year -
Months
$1.00
.78
Months— MO
REV. ROBERT R HARPER f
Tlie new Big Three meet for the first time to resume Potsdam con
ference. Left to right: Prime Minister Attlee, president Truman and
Premier Stalin.
r’a Testimony to God.
JLsoaon for August 12: Genesis 26:
ory Verse: Psalms 77:14.
>c was a man of peace in a
age and he won out in his
of peace toward his neigh
Canaan.
Abraham’s death the Phil-
had filled in the wells ne
digged. Isaac reopened the
; also digged another. Wisely
h men reopen the wells Os
their fathers digged—go back
past for the best it holds, an*
like Isaac, open new well*
4rsjth.
the Philistines contender
his men for the wells, Isaac
on to Beersheba. Evident!?
pdicy of peace was approved o'
•or the Lord appeared unt«
renewed the covenant H*
made with Abraham. •
■I note the effect of his polio
upon his enemies. The*
to him at Beersheba auc
to him a league of peace
Isaac accepted. The cove-
was celebrated with a great
the morrow when the visitors
departed the servants of Isaa^
' to him that they had fouod
The man who' refuses riOx‘
Withers will have an a’r^n-
well for himself,
ne'e career of peace w»s In-
remarkable for the a rv in
he lived. But above his f*.’.*-
as a man of peace tvss
testimony of his life to Go.! —
heathen neighbors were Ir
by 1 it and came to offer ,a
t of friendship to the mar.
so signally approved and
-xx-
By ELLIOTT PINE
Dsoka like that 4 minute mile
day become a reality . . .
Haag has sped the distance
V and says he can do even
For many years the 4 min-
was considered impos-
squaring the circle. The
mark was set in Sweden on
72. In 1865. the record stood
Slowly the seconds were
off. In 1923, Paavo Nurmi,
aftantom Finn,” breezed it in
. to everyone’s astonish-
today he would be pad-
in tiie dust.
o prize minor leaguers who
snapped up by the ma
te last winter’s draft are said
e Marino Pieretti .of Washing-
sui Vance Binges of the Phil-
Mmrettl has been winning two
Ml three games in which he
He cahne from Portland
the center "of a serious
on rights and waivers. He
Senators $7,500. Binges is
around .310 and getting bet-
ly 4 others of the 21 minor
3<fit
who were drafted at a
of $152,500 are now doing
duty on the major teams,
find ail four are pitchers.
ndteie Zivic, former welter-
• Saeugtit champion, says he is
i Ifenngh with boxing. His 200th fight
ed hi defeat. He fought Ossie
iog) Harris in Pittsburgh on
ID in a comeback effort. A
offer for a racehorse was
recently in London . , . and
when Sir Eric Ohlson
down half a million dollars
SJtante; English Berby winner.
hardest punch he ever took,
iJhrck Dempsey, was a right to
flaejsav from Gunboat Smith in 1917
“Everything blacked out for
'tee aestr of the evening,” relates
tee owrmnander. *T didn’t know
next day that I had won.”
predicted that after the war
teams will dash about the
by airplane, thus making
tiie old conferences that
established mainly to devise
matchings and travel
. . . Harvard could fly to
in a day, for instance.
Primitive Methods
Need Not
* Be
Followed
m
Advertising
*
4 Be Modern
ADVERTISE HERE!! j
Blind Are Expert Modelers
This young pupil of the New York Institute for the P-lind shows the
duck-model, the amazing likeness he wrought with his fingers in clay.
The young artists were taken to the zoo, allowed to handle the ducks,
and then set to work to Reproduce them in clay.
Duelling for Batting Lead
Tommy Holmes, sensational hitter of the Boston Braves, wits
leads the National league in batting, crosses cudgels with Goody Rose*
of the Brooklyn Dodgers, who Is following Holmes so closely thai
Tommy can feel Goody’s breath on his neck or may pass Holmes befoto
your paper can be delivered to you. j
The Middles By Bob Karp
y
COMPANIES POSSESS FUNDS
FOR PEACETIME OUTPUT
By A1 Jedlicka
Already cut 9 per cent under peak March levels, war
production is scheduled for a further 23 per cent reduction
during the remainder of 1945, pointing up reconversion
problems facing the nation following the defeat of Germany.
Totalling 16.3 billion dollars, cutbacks during the first
six months of 1945 have affected 2,500 plants, but whereas
many workers remained untouched^
because much of the reduction was
in future contracts rather than in
actual work, the situation will tend
to reverse itself during the last two
quarters of the year when present
programs peter off.
Indicative of the trend, 31 per
cent of the contracts cut back in
April were for scheduled future
production, with the total for May
14 per cent. In June, however, the
figure was only 5 per cent, with the
remainder consisting of working
contracts.
Even as the senate was asked
to act on liberalization of un
employment legislation to ab-
v sorb reconversion distress, and
' there were rumblings that the
whole ‘ reconversion program
> was moving too slowly, OFA
took steps to facilitate manu
facturers’ switch over to civil
ian output and the Securities
i and Exchange commission re
vealed that American corpora-
> tions with issues listed on the
f national stock exchanges pos-
' sessed 63 per cent more work
ing capital than in 1939.
In seeking to speed up manufac
turers’ reconversion, OPA formu
lated price policies designed to
guarantee the producers an ade
quate profit margin while at the
same time keeping costs within
reasonable levels to avert the dan
ger of inflation.
Under the OPA plan, manufac-
• turers doing an rnnual business of
$200,006 or more will be permitted
to add wage and material cost in
creases over prewar prices, and
then include half of the industry
wide profit margin for 1936 to 1939.
Firms with an annual $50,000 to
$200,000 business will follow the
same procedure for determining
costs, but will be allowed to substi
tute their own 1936 to 1939 profit
margin instead of half of that for
their particular industry.
In the case of businesses with a
yearly volume of less than $50,000,
they may use their current costs as
a base and then add their own prof
it margin for .1939, or, if that is
not available, then the net for 1940
or 1941.
To help speed fhe manufacturers
along, OPA will pass upon final
prices set up by companies doing
an annual business of $200,000 or
more, while the charges of the
smaller firms will be considered ap
proved unless OPA notifies them
otherwise within 15 days.
In revealing that 1.209 Amer
ican corporations listed on the
nation’s stock exchanges pos
sessed 63 per cent more work
ing capital than in 1939, the Se
curities and Exchange com
mission indicated that U. S. In
dustry was well heeled for the
cost of switching production
from war to peace.
Listed as $20,258,000,000 for the
1,290 aforesaid corporations, total
assets of all companies was esti
mated at $45,500,000,000.
In reviewing the finances of the
1,290 corporations, the SEC re
ported that the net working capital
of 25 aircraft and related equip
ment companies jumped from $79,-
000.000 in 1939 to $470,000,000 in
1D44, while the liquid assets of 84
railroads soared from $347,000,000
to $1,548,000,000.
With half of the firms engaged in
war work, 837 manufacturing cor
porations showed increases in
working capital from $9,669,000,000
in 1939 to $15,167,000,000.
Analyzing the working capital, .
the SEC reported that nearly one- ;
third of the liquid assets consists of '
cash on hand and in banks, and
about one-fifth in U. S. tax and sav- -
mgs notes.
Holdings of U. S. government se- 1
curities jumped from 846,000,000
in 1939 to $6,633,000,000 in 1944, rep
resenting about one-fourth of the
total working capital at the end
of 1944. Meanwhile, holdings of
other marketable securities dropped
from $491,000,000 in 1939 to $361,- ‘
000,000.
Still anticipating widespread '
distress during reconversion !
despite government efforts to \
remove restrictive barriers to s
quick turnover to civilian pro- 1
duction, Sen. Harley Kilgore )
(Dem., W. Va.) asked congress
to liberalize grants to the un- f
employed to help tide them '
over the period. J
Under Kilgore’s proposed legisla
tion, federal, maritime and agricul- ;
tural processing workers would be
included in unemployment compen
sation payments^ along with work- ‘
ers in plants with less than eight ,
persons. At the same time, the fed
eral government would pitch in the .
difference to brmg unemployment :
compensation payrr.er* 1 : of the
states up to a level of $25 for 26 *
weeks. Single vets would b« allowed
$25 and those with dependents $30
for 52 weeks. To aid persons .
stranded in idle war production
centers, the U. S. would provide .
transportation expense to new jobs
in other cities.
While Kilgore appealed for liber
alized unemployment payments,
figures revealed that many Amer
icans have been looking ahead for *
postwar stress, with savings for the ‘
first three months of 1945 estimated
at $8,500,000,000. Of this, almost $5,-
000,000,000 was deposited in banks;
$1,500,000,000 in U. S. bonds; $1,-
000,000,000 in national service life
insurance, and $900,000,000 for pri
vate premiums. At the same
time, consumer debt was cut $200,-
000,000. exclusive of mortgage obli
gations.
HARRY REAM
McCormick, S. C.
Boundary
Livestock and Poor land are sel
dom companions for long.
Don’t Gamble! Have extra
KEYS
Duplicated While-U-Wait
2 for 35c
Guaranteed to fit or money
refunded.
«
Ben Franklin
Stores
McCormick, S, C.
READ THE AD$
Along With the New*
BARBECUE HASH
ON SATURDAYS
Will serve Barbecue
Hash to the public ev
ery Saturday at my
store. Will sell by the
| pint, quart, or any a-
mount with container
furnished.
F. Walker LaGroon,
R. 1, McCormick, S. C.