The sun. [volume] (Newberry, S.C.) 1937-1972, May 16, 1963, Image 4
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Page Four
THE NEWBERRY SUN. NEWBERRY SOUTH CAROLINA
THURSDAY, MAY 16. 1963
THE “SPECTATOR'S” COLUMN
One hundred thousand fore-1
closures of mortgages on homes I
in our Nation may bring sorrow;
to that many families, according
to a report in the newspapers re
cently. I quote the newspaper ac
count:
Close to 100,000 people will lose
their homes through mortgage
foreclosures this year.
Most of the homes will be small
houses in the $10,000 to $15,000
class. Some will be now. Others
will be older homes the typical
owner will have had his house
less than three yers.
The number of foreclosures is
high—too high—and it is causing
worried discussions within the
administration and in congress.
The Federal Housing Administra
tion recently completed an elab
orate study of the problem. The
Housing and Home Finance ag
ency is conducting an investiga
tion. The Senate Housing Sub
committee staff is preparing a
special report.
This year’s expected 100,000
foreclosures will be more than
last year’s 86,444 and that was
the largest number since the de
pression year of 1939. The record
total came in 1932 when 252,400
people defaulted on their mortga
ges. ‘It’s not an alarming situa
tion but it isn’t healthy’, a top
government housing' official de
clared.
A great many people are being
hurt. The number of foreclosures
has been rising almost steadily
since the end of World War II.
The only bright spot is that the
volume seems to be nearing a
peak. But no one believes that the
tide will recede any time soon.
The foreclosure situation doesn’t
look quite so bad if you put it in
statistical percentages instead of
people. The number of homeown
ers is increasing steadily and only
four-tenths of one per cent of the
mortgaged homes were foreclosed
in 1962.
The poorest performance is be
ing turned in by the government-
backed mortgages. Foreclosures
of FHA-insured mortgages are
running at about 1 per cent rate
while foreclosures of Veterans
Administration guaranteed mort
gages are at a higher rate 1.72
per cent.
The FHA and VA programs
were created to help people buy
homes and the foreclosures are
the price that is being paid. Con
gress has made it possible for a
man to buy a $15,000 house by
making a 3 per cent, $450 down-
payment. He can borrow the re
maining $14,550 from a private
lender who will be insured by the
FHA. If it is a new house, the
borrower can have 35 years to
pay. If it is an existing home, the
maximum is 30 years.”
You will note that the hundred
thousand cases are for this year,
but little encomagem$nt can be
found in the general condition
when we keep .in^ nrii^d^ tfeat the
foreclosures last year numbered
86,444.
v
Since the figures appear to be
foreclosures under Federal loans
we may well conclude that quite
a few thousand people lost their
homes because of failure to pay
loans from other sources.
As used to be said, the foreclos
ures give us considerable pause
for they indicate a decidedly, un
healthy condition. One may well
conclude that credit has been too
easy: many people have built
homes and moved about freely
with little loss because often the
payments have been even less
than rent. When a man works and
saves for years he regards his
home as a castle to be defended at
all costs, but if his down payment
is very little and his monthly in
stallments less than rent he has
no cherished regard for his house:
it isn’t like a castle, to be held in-
vioable.
boys, columnists, pieces of paper,
and the household chores—you get
the urge to go away from here.
Going fishing is the only explana
tion in the world that even skep
tics will accept.”
“Next to prayer, fishing is the
most personal relationship of
man; and of more importance,
everyone concedes that the fish
will not bite in the presence of
the public.”
“This civilization is not going
to depend upon what we do when
we work so much as what we do
in our time off.”
“The break of waves in the
sun, the contemplation of th«
eternal flow of the stream, the
stretch of forest and mountain in
their manifestation of the Maker
—it is all of these that soothe
our troubles, share our wicked
ness, and inspire us to esteem our
fellow men—especially other fish
ermen.”
Yes, verily. “When I behold thy
heavens the work of thy fingers,
the sun and the moon which thou
has ordained, WHAT IS MAN,
that thou art mindful of him?”
That was David marvelling at the
handiwork of Jehovah. David was
a sort of spiritual uncle of Mr.
Hoover.
‘ The earth is the Lord’s, and
the fulness thereof; the world,
and they that dwell therein:
For he hath founded it upon the
seas, and established it upon the
floods.
Who shall ascend into the hill
of the Lord ? or who shall stand in
his holy place?
He that hath clean hands, and
a pure heart; who hath not lifted
up his soul unto vanity, nor hath
sworn deceitfully.
Whc} is the king of glory? The
Lord of hosts, he is the King of
glory. Selah.” (Psalm XXIV-vs. 1,
2, 3, 4, and 10).
Mr. Hoover, naturally a de
vout man, must, like David, sit
in quiet meditation, letting his
mind play on the contemplation of
the Most High in His daily pro
vision for mankind everywhere.
Mr. Hoover, after a long and
eventful life, with technical pro
fessional service as a Mimng en
gineer in far off places; and ser
ious dedication to the public here,
turns from the “maddening
crowd’s ignoble strife,” to the
calm and stable things of life.
Boys In Service
U. S. FORCES, GERMANY
(AHTNC)—Army Specialist Five
Joe E. Dowd, 26, whose wife,
•Brenda, lives in Prosperity, took
part in Exercise GRAND SLAM
II May 2 through 7 with other
members of the 69th Engin'er
Company in Germany.
Specialist Dowd, who arrived
overseas in January 1961 on this
tour of duty, is on offset press
man with the company in Germ
any.
He was graduated from Littl®
Mountain high school. His parents
Mr. and Mrs. J. C. Dowd, live on
Route 3, Prosperity.
tm
111
Well, here’s ex-President Her
bert Hoover, telling of the philo
sophic angle of fishing:
“All men are equal before fish.”
“When you get full up of tel
ephone bells, church bells, office
Now Serving Newberry
and Surrounding Areas
WARKMEISTER
ELECTRIC SERVICE
1603 Johnstone St.
Newberry, S. C.
Phone 276-5109
'/5AFETV
IF YOUR
r * A r E • T
OF YOUR
INSURED
There Is a Difference...
There’s a big difference between banking and sav
ing. Your’re banking when you deposit “put and take”
dollars in an account for day to day use.
You’re saving when you add regularly to your re
serve savings account at Newberry Federal.
Highest rate of dividend with guaranteed safety
and immediate availability.
Twenty-eight years of uninterrupted dividends.
Paid twice a year, June 30th, December 31st.
If you wish to open an account by mail, simply for
ward your check to the association giving your name
and address. Your savings account book will be for
warded to you the same day the investment is received.
CURRENT DIVIDEND RATE
4 0/ PER
/ft ANNUM
(Compounded Semi-Annually)
ifl* hPl
favisos amd Loam Assocjatjom
J. F. CLARKSON
M. O. SUMMER
A SAVINGS INSTITUTION FOUNDED ID'35
I88R COXJLSOB 8TB81
DIRECTORS
G. K. DOMINICK
J. K. WILLINGHAM
BRANCH OFFICE —Baiesburg, S. C.
r, 8. c-
E. B. PURCELL
W. C. HUFFMAN
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Winthrop Senior Bamma Kay
Ashley of Whitmire is a candi
date for a Bachelor of Arts de
gree in English at Winthrop
College commencement exercis-
e s May 26. She is the daughter
of Mr. and Mrs. Ben F. Ashley.
CLASSIFIED!
ADS
We have a product for vinyl and
other floors known as Seal Gloss
acrylic finish. It’s terrific. Whit
aker’s Floor Coverings.
HELP WANTED—If you will
work you can earn steady income
selling Rawleigh Products. No
Capital necessary. Write RAW
LEIGH, Dept SCE-361-883, Rich
mond, Va. M2,9,16,23,30
SPARE TIME INCOME—Refill-
ing and collecting money from
NEW TYPE high quality coin op
erated dispensers in this area. No
selling. To qualify you must have
cp , references, $600 to $1900,00
sh. Seven to twelve hours week
ly can net excellent monthly in
come. More full time. For personal
interview write P. O. Box 4185,
Pittsburgh 2, Pa. Include phone
number.
RITZ
Theatre
THURSDAY, FRIDAY AND
SATURDAY
Frankie Avalon, Mariette Hartley,
Lloyd Bochner
Drums of Africa
MONDAY & TUESDAY
Pat Boone, Barbara Eden, Steve
Forrest, Jack Klugman
The Yellow
Canary
CLOVER LEAF
DRIVE-IN
Theatre
FRIDAY AND SATURDAY
The War Lover
St e ve McQueen, Robert Wagner,
Shirley Ann Field
SUNDAY
The 300 Spartans
Richard Egan, Diane Baker, Sir
Ralph Richardson
Always a COLOR CARTOON
•v ^ - n — '
S&M
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Winthrop Senior Maeberta Bobb
of Newberry is a candidate for
a Bachelor of Scienc* degree in
physocal education at Winthrop
college commencement exercises
May 26. She is the daughter of
Mr. and Mrs. Carl F. Bobb.
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Winthrop Senior Kay Livings
ton of Newberry is a candidate
for a d e gree of Bachelor of Arts
degree in English at Winthrop
College commencement exercises
May 26. She is the daughter of
Mr. and Mrs. Aubrey Davis of
this city.
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Winthrop Senior Martha Jean
Longshore of N e wberry is a can
didate for a Bachelor of Arts
degree in Spanish at Winthrop
College commencement exercis
es May 26. She is the daughter
of Mr. and Mrs. James M. Long-
shor*.
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Winthrop Senior Sylvia Lee
Rayfield of Newberry is a can
didate for a Bachelor of Arts
degee in Spanish at Winthrop
College commencement exercis
es May 26. She is the daughter
of Mr. and Mrs. Horace Bivens
Rayfield.
Cook-Johnson
Vows Exchanged
Mr. and Mrs. Harold O. Cook
announce the marriage of their
daughter, Susan Arlene, and Mr.
Sammie Earl Jqhnson, son of
Mrs. Mary L. Johnson of Orlan
do, Florida. The marriage was
performed in Lincolnton, Ga. on
May Sixth.
Recent Movings
Mr. and Mrs. Harold Coates
moved to their new home, 2247
Derrill Avenue.
Mr. and Mrs. Earl Bigby have
returned to Newberry and are
making th®ir home at 1446 Cal
houn street.
Named Kendall
Vice President
BOSTON, May 14. — George
McQuilken III, newly appointed
manager of the Kendall Comp
any’s Textile division, has been
elected vice president of the com
pany, Kendall President Harold
T. Marshall announced today. The
headquarters of Kendall’s textile
operations are in Charlotte,, N. C.
Mr. McQuilkin succeeds L. A.
Savage, who retires at the end of
next month after 36 years of ser
vice with the company. The Ken
dall company also manufactures
surgical dressings, elastic webs,
nonwoven fabrics, elastic stock
ings, and polyethylene adhesive
tapes.
Mr. McQuilkin joined the Ken
dall company in 1938. During
World War II he was in the Air
Force and then was associated
with Lybrand, Ross Bros, and
Montgomery before returning to
Kendall in 1948. He served as con
troller of the company after being
controller of both the Textile and
Chicago divisions. Mr. McQuilkin
has been in full charg* of the
functions of the J. W. Wood and
company since its acquisition by
Kendall in 1961.
An alumnus of Pennsylvania
Military college, he is also a grad
uate of the Harvard Business
school.
Smiley Porter of Florence spent
several days last week in th e city
on business. iii
Australia leads the world in wool
production. The annual clip from
the country’s 131,000,000 sheep
sells for about $900,000,000.
• • •
The composer of “Carry Me
Back to Old Virginny”—James A
Bland, was born in Fiuihing,
New York.
• • •
An estimated 60 per cent of the
total free world nickel supplies
available in 1957 was dauirered to
the United States. *
• • e
Bituminous coal moves by barge
over the Ohio River at the rate of
18 mtDton tons per year.
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“THE GAY NINETIES” was the theme when the Junior Class of Newberry High School honored
the Seniors last Friday night at the school cafeteria. Among those enjoying the occasion were, from
left, Murrie Alice Shealy, secretary-treasurer of the Junior class and her escort, Ben Rook; Martha
•Brown, president of the Senior Class and her escort, Neal Dickert, president of the junior Class;
Bubba Coleman, vice-president of the junior class a and his date, Luellen Neel. (Sunphoto.)
Notice to Citizens
of Newberry
Due to some apparent confusion concerning the
ordinances regulating garbage collection and lot clean
ing, those sections of the ordinances pertaining to these
matters are published in full elsewhere in this issue.
Citizens are notified that limbs, leaves and matter
of this nature is now handled by the street department,
and matter of this nature should be left at the edge
of the street to be picked up. If such matter is in a yard,
the street department must be notified by calling tele
phone No. 276-4193, and the trash will be picked up if
in a location conveniently available to the trash truck.
FOR FURTHER INFORMATION OR SERVICE,
TELEPHONE 276-4193
City of Newberry