Historical Newspapers of South Carolina

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PAGE TWO THE NEWBERRY SUN, NEWBERRY, SOUTH CAROLINA THURSDAY, DECEMBER 30, 1964 1218 College St., Newberry, S. C. 29108 PUBLISHED EVERY THURSDAY 0. F. Armfield, Jr., Owner Second-Class Postage Paid at Newberry, Soutn Carolina. SUBSCRIPTION RATES: $2.00 per year in ad vance :Six Months $1.25. BABSON FORECAST . . . (Continped from page 11 ain’s plight. We are cormnced that unless the Labor government adopts strict austerity measures, the pound will fall before the end of 1965. 15. Until the fate of the pound is resolved, short-term in terest rates must be kept high to prevent foreigners from with drawing their deposits held here. Also, domestic demand for credit promises to remain strong. Hence, interest rates will edge upward during 1965. 16. There may be some erosion in bond prices as interest rates move upward, but there should be no massive decline unless a real credit crisis develops. Investors making new purchases would do well, however to stick now to bonds maturing within five years. Some time during 1965 longer bonds may become good buys. 17. Inflation fears may rise in 1965; but we do not look for runaway prices next year as pro ductive capacity is too large. 18. More wage hikes are cer tain in 1965. Liberal concessions won in the auto and other indus tries in 1964 provide tempting targets for the steel unions and secondary labor groups to shoot at in 1965. 19. To the extent—and this could be considerable—that high er costs cannot be compensated for by price hikes and greater ef ficiency, profit margins will suf fer in 1965. 20. Indeed, despite the pro jected 2 per cent cut in the corpor ate income tax rate next year, we look for only a very slight overall rise in corporate profits—nothing to compare with this year’s huge 20 per cent expansion. 21. Labor disputes will be numerous in 1965. Many labor pacts can, and will, be reopened for wage adjustments during the coming year. 22. Employment will continue favorable in 1965, but additions to rolls will be most noticeable in fields such as teaching, personal services, and government work. 23. Little real progress will be apparent in the drive to reduce unemployment. We are only now just “touching off” the big new explosion in growth of the labor force. 24. Due to rising labor cost, look for business to turn even more to automation and labor-sav ing devices in 1965. Pressures on profit margins will spur cost-cut ting and efforts to raise product ivity. 25. Because of rising expenses and overwhelming competition, a further increase in failures will be seen in 1965. 26. As a result of automobile strikes in late 1964 and the fear of a possible steel shutdown in mid-1965, we look for a bulge in business volume during the first half of 1965. 27. In a nutshell, business should make new all-time highs in early 1965; after mid-year, a tapering-off appears likely. How ever, 1965 will set another new record. 28. 'Following the strike in terruptions of late 1964, personal income should move smartly a- head to new highs in the first half of 1965, although the rate of ad vance will slow after mid-year. 29. This projected rise in in come will be beneficial to retail trade. And though buying in the second quarter may be dampened by heavy income-tax payments due Uncle Sam on April 15 as a result of under-withholding dur ing 1964, the last half of the year will find retail trade in certain lines—such as furs and jewelry— spurred by President Johnson’s promised excise-tax cuts. 30. The important automobile industry should post another ex cellent sales year in 1965, but as the year advances we feel that gains will be harder to come by. 31. The powerful building and construction activities should prove a strong support to general business during 1965, even tho we foresee no marked improve ment. Some gains in dollar volume will be largely due to higher costs. Apartment building has been overdone in ■ some sections and a breathing spell is logical. One- and two-family houses could post a small increase, but the big market for new housing is still some years distant. 32. Overextension of credit and overambitious operators have put the real estate market in a bind in many large metropolitan areas. We strongly advise caution in making new commitments, espec ially in commercial real estate where a thin equity exists. 33. However, even if scarcer than in recent years, there will still be opportunities for selective purchases of real estate in 1965. Each area is a law unto itself. Know your locality and study the direction'of growth trends. Farm land bought in the path of ex pending suburbs may be a better long-term buy in 1965 than stocks. 34 .Non farm real estate fore closures will continue in an up ward trend during 1965. This should be particularly true in reg ions where over-building of spec ulative homes has taken place and where cutbacks in defense spend ing cause local distress. 35. Productive farm land that lends itself to mechanization will not decline in price in 1965. Rising use of farm equipment makes it necessary for operators to culti vate ever-larger spreads. This trend is maintaining the demand for fertile acreage in the farm belt. 36. As 1965 begins, prices for agricultural products are gener ally well above their lows for 1964. Unless severe widespread drought intervenes, we look for no more than seasonal strength in agricultural prices during the year ahead. In a word, we do not see any near-term important up lifting forces on the farm scene. 37. The situation in industrial commodity prices is somewhat different. With business heading higher in the first half and with labor costs scaling new peaks, in dustrial commodity prices, with some exceptions, will push upward at least, during the coming six months. 38. Living costs will also rise to new all-time heights. And, since President Johnson is com mitted to getting Medicare passed at this session of Congress, look for hospital, nursing, and doctor’s fees to spurt before the end of 1965. 39. Even with Federal income taxes already slated to drop a notch next year and with pros pects excellent that excise taxes will be cut, rejoicing should be re strained by the knowledge that local taxes will take another up- twist and social security levies will rise again, even faster after the 89th Congress enacts Medicare. 40. Climbing capital goods out lays will be one of the brightest spots for 1965. Cains over this year could run as high as ten per cent. 41. Further progress in United States exports will be harder to achieve in the coming year. Cer tainly, if the steel labor outlook appears bad by mid-spring, heavy imports of foreign steel may be resorted to by U. S. businessmen. This would result in a narrowing of our favorable trade balance and have a further adverse impact on the U. S. international balance of payments. 42. Although we are not fore casting runaway inflation for 1965, we do feel that attempts to keep money easy in this country, in the face of a world-wide trend toward tighter credit, will greatly increase the danger of a later in flationary blow-off. Conditions re mind us of the late 1920’s when the Federal Reserve here kept credit too cheap and plentiful to support the British pound. Hence the eventual collapse came from an even more dangerous level. 43. It is unlikely that the U. S. will raise the price of gold during 1965. However, we may well see the calling of a monetary confer ence to deal with the weakened British financial situation and to attempt greater liquidity for world currencies generally. 44. As far as gold stocks are concerned, they are already high and should only be held in 1965 as insurance against the long- range trend toward higher world prices for gold. 45. The silver coinage situa tion will become more acute as the year progresses. The 89th Con gress will be forced to consider a new silver coinage act. If it is not passed in 1965, it will be short ly thereafter. 46. Returning to the all-im portant foreign scene—since we are very much wrapped up in the future of the Free World—we forecast further instability among the Russian leadership. Khrush chev’s ouster marked only the be- smile whenjt’s time for a new car! An SCN Auto Loan makes it easy to own the one >£ you choose, v ^ or reQ l bank rates finance your auto . at SCN - your bank. mm M : IfH CAROLINA NATIONAL *7/te Hank, frvi Coetufhodif THERE’S AN SCN OFFICE NEAR YOU MSMBft F O I C ginning of the coming power grab in Moscow. The real leader has net yet emerged. 47. Ascendancy of the African and Asian nations to a position of control in the United Nations will force the United States in 1965 to take action alone when vital spheres of influence are violated. The UN will become even more of a debating society; and month by month the chances grow dim mer that we will ever again see United Nations troops used for rescue operations such as in Ko rea or the Congo. 48. Following the British crisis General DeGaulle will work hard er than ever in 1965 to unite Eu rope as a great third force be tween Communism and the;United States. President Johnson is well aware that the winds of change are blowing strongly in Western Europe. 1965 could see the begin ning of the end for transatlantic union as envisioned by U. S. Ad ministrations during the past two decades. 49. World-wide credit prob lems and restrictions on trade cast dark shadows on investment prospects abroad. Many nations which have shown great growth during the past 20 years will be poor risks for new commitments during the year 1965. 50. In Conclusion, we recall the statement of a former Presi dent of a South American nation: That the U.S.A. . prospered so greatly because its founders came to worship God, as opposed to countries whose settlers went to worship gold. Surely we can hope 1 to prosper in the future only as we recognize that righteousness and morality must be as important as anaylsis and statistics as Bedenbaugh dies in Orangeburg J. W. Bedenbaugh, 61, Holly Hill auto dealer, died Friday in an Orangeburg hospital. Funeral services were held on Sunday with interment in Holly Hill cemetery. " Mr. Bedenbaugh was born in this county, son of the late Gehard §nd Gussie Wertz Bedenbaugh. He spent his younger years in Pros perity, moved to Orangeburg in 1930 and to Holly Hill in 1946, where he had been an automobile dealer since. Surviving are his widow, Mrs. Eula Blair Bedenbaugh of the home; two daughters, Mrs. Ed ward Myers and Mrs. Thomas Antley of Orangeburg; one son, Thomas B., Bedenbaugh of Holly Hill* his mother, Mrs. Gussie Bed enbaugh Black of Prosperity; four sisters, Mr&. J. W. Nance of Col umbia, Mrs. Earl Adams of Union, and Mrs. Roy Mills and Mrs. Fred Hayes of Ne48ferry, and one bro ther, Gerald W. Bedenbaugh, of Ok-artgeburg. The Newberry County Delega tion will hold a public meeting on January 9th at 11 a.m. in the courthouse, according to Senator Jesse Frank Hawkins and Rep. D. P, Folk. All citizens who wish to discuss county or state matters with the delegation are invited to be present. springboards for new business ven tures during 1965 and in all the years ahead. IMPORTANT ANNOUNCEMENT Mr. William A. B. Addison of the South Carolina National Bank Trust Division will be at the South Carolina National Bank, Newberry, the first Monday in each month beginning- Monday, January 4th. Mr. Addison desires to discuss the many services available through SCN’s Trust Division with all interested per sons. POSITION OPEN SECRETARY Good working conditions, paid vacation, tree insur ance and other fringe benefits. Can begin work immediately. Previous experience m office procedures and short hand required. Apply m own handwriting giving complete resume of work experience, personal data and acceptable salary. All replies kept in strict con fidence. Send reply to: "Secretary", P. O. Box 429, New berry, S. C. AUDITOR’S 1965 TAX ASSESSMENT NOTICE I, or an authorized agent, will be at the following places on the dates given below for the purpose of taking tax returns on all per sonal property, boats, motors, trailers, and mobile homes; also ’real property, new buildings, and real estate transfers. Persons own ing property in more than one district must make returns for each district. All able-bodied citizens between the ages of twenty-one and sixty are liable to $1.00 poll tax. CHAPPELLS Monday, January 4, 1965, from 10 until 12. SILVERSTREET ‘ Monday, January 4, 1965, from 2 until 4:00. WHITMIRE CITY HALL Tuesday, January 5, 1965, from 10 until 3:00. JAMES HOMER CROOKS STORE Wednesday, January 6, 1965, from 10 until 12. ARAGON-BALD WIN MILL Thursday, January 7 and 8, 1965. POMARIA Monday, January 11, 1965, from 10 until 3:00. BANNIE CATHCART’S STORE Tuesday, January 12, 1965, from 10 until 12:00. A. E. & R. E. REESE STORE Tuesday, January 12, 1965, from 2 until 4:00. G. M. & R. E. NEEL’S STORE Wednesday, January 13, 1965, from 10:30 until 12:00. PEAK Thursday, January 14, 1965, from 10 until 12:00. LITTLE MOUNTAIN Friday, January 15, 1965, from 10 until 3:00. ST. LUKES Moore’s Store, Monday, January 18, 1965, from 10 until 12. O’NEAL Sinclair’s Store, Monday, Janu ary 18 1965, from 2 until 4:00. MACEDONIA Stockman’s Store, Tuesday, Jan uary 19, 1965, from 10 until 12:00. KIN ARDS Oxner’s Store, Wednesday, Jan uary 20, 1965, from 10 until 12. PROSPERITY Black’s Store, Thursday, Janu ary 21, 1965. At the Auditor’s Office to March 1st., after which a penalty of 10 per cent will be added. iftALPH B. BLACK, Auditor Newberry County NOTICE FOR BIDS Office of Newberry County Board of Commissioners, Newber ry, South Carolina, will receive sealed bids by 10:00 A.M., Janu ary 4, 1965, for the following ma terials to be used by Newberry County for the second six (6) months, 1964-1965: Lumber, nails, tires, concrete pipe, repair parts, clothing (con vict), supplies, books and equip ment. Specifications on special forms may be obtained at the Supervis or’s office in the Court House. All bids should be submitted on forms furnished. The right is reserved to reject any and all bids. Newberry County Board of Commissioners. Children give UDC progran The elementary group of the Eloise Welch Wright Chapter, Children of the Confederacy, was in charge of the program for the Christmas meeting of Drayton Rutherford Chapter, U.D.C., at the home of Mrs. Ralph B. Baker on December 18. Mrs. Ralph P. Ba ker and Mrs. Walter Summer were associate hostesses. The children dedicated their program to Mrs. Eloise Welch Wright, “Sweetheart of the Chil dren of the Confederacy” and sang a special song, “Sweetheart of C of p” in her honor. The musical program consisted of several fa- voriate songs of the South and several Christmas carols. Taking part were Lynn Lominack, Martha Renwick, Connie Sanders, Ruthie Sanders, David Dickert, William Renwick, Erwin Baker and Ralph Baker. Following the program, a short business session was held, pre sided dver by Mrs. E. E. West- wood, president. Prior to the meeting, lovely organ music was rendered by Mrs. J. E. Wiseman Sr. Following the business, the members joined in singing carols, accompanied by Mrs. Wiseman. The meeting was held in the mu sic room of the Baker home, where an open fire lent warmth to the occasion. The Baker home was colorful with Christmas decora tions in the entertainment rooms and hall. Following the meeting, refresh ments were served by the hostess - Are You One ... of those 9,500 Investors who will receive a Divi dend on December 31st? If not — make a New Year's Resolution that you will save a part of your Income each pay day. More than $700,000.00 has been distributed to our Investors during 1964. Save by the 10th of any month and earn from the first. PER Q ANNUM BRANCH OFFICE—BATESBURG, S. C. y dgfa ^avinos and Loan Association SSSO OOU.B0B BTBBBT, BBWBBBBT, 9. C- DIRECTORS J. F. CLARKSON G. K. DOMINICK E. B. PURCELL M. O. SUMMER J. K. WILLINGHAM W. C. HUFFMAN BRANCH OFFICE —Batesburg, S. C.