Historical Newspapers of South Carolina

Below is the OCR text representation for this newspapers page. It is also available as plain text as well as XML.

The Newberry Sun, Newberry, S. C., Thursday, Oct. 12, 1967—PAGE 7 r Dr. George S. Benson President NATIONAL EDUCATION PROGRAM . Searcy, Arkansas i STRIKES CAN INJURE EVERYBODY America is the only place in the world where a man working on hourly wages can earn enough money to own a home, an automobile, a TV and send his son to college. There are two reasons wages are so high in America. One is the power and con stant pressure of labor unions for higher wages. The only way companies could pay the higher wages was by increas ing productivity. Improved tools, improved techniques, and better trained employees represented the only way to materially increase producti vity. So companies have given on-the-job training, have de veloped new techniques, and above all, have spent more money for tools. In fact, the average cost of making an American job is above $20,000, in plant, tools, and inventory. This is the second and most important reason for the high productivity which makes pos sible the high wages. But every road has a hazard on either side. The art is to find the middle of the road and avoid both of the hazards. Foreign peoples are desperate ly trying to sell their goods on America’s rich markets. As wages in America go up and prices go up we are helping the foreign competitors to in vade our markets. In fact, we now have sharp competition in most fields. We even import more steel and automobiles than we export. If we keep raising wages faster and faster and prices then keep going up faster and faster we shall see more and more foreign imports selling on American markets. This actually jeopardizes these high paying American jobs. It would be to the best interest of American employees if their Labor leaders would urge that productivity go up as fast as wages go up. Then prices would not need to go up at all, and American jobs would remain secure. It was for this reason that President Johnson set his guide lines for wages increases at 314%. But some important Labor leaders are now demanding 5% to 6%, and going on strikes to get it. The strike which began at the Ford Motor Com pany on September 7 is an example. Every American needs to look carefully at the facts involved in such strikes. Such a strike involves prices that affect us all, that have an effect on future jobs in Ameri ca and on our total living standards. In fact, such strikes could lead to a depression. In the Ford case the facts are finally quite evident to those who take the trouble to seek them out. Wanted: $11,520 A Year Mr. Reuther demanded a boost of wage and fringe bene fits of 6% a year for each of the next three years. He de manded a revolutionary guar anteed annual income for each worker. He demanded a union “voice” in Ford’s allocation of sub-contracting work (to sup pliers). There were several thousand “local” demands — free lunches in cafeterias, magazine racks on toilet doors, air conditioning, drinking foun tains in cabs of overhead cranes, etc. How well, relatively, were the auto workers doing before the new demands? Auto work ers are among the best paid industrial workers in the world. The average for the entire industry, including pension credits, supplemental compen sation and other benefits, is at the rate of $9,776 a year (40 hour week). Ford offered in creases that would raise this to $10,900 a year. Mr. Reuther demanded boosts raising it to $11,520 a year — not counting “guaranteed annual income costs.” The wage-fringe de mand of Reuther would place the rate at $5.54 an hour. How Well Is The Company Doing For the year 1966, Ford sold $12 billion worth of new cars and merchandise. Its income (profit), before taxes, was $1,166,842,569 00 — and this big figure made big headlines. After taxes were deducted, however, the net income left was $621 million. And the im portant statistic is this one: profit on each sales dollar was 5.1% — or five pennies. Ford spenCon expansion, moderni zation and replacement of facilities $692 million in 1966 which is more than its total 1966 profits. Here’s where Ford’s $12 bil lion sales income went last year: $7-plus billion for ma terials, supplies, services from sub-contractors and suppliers. $3.3 billion to workers in wages, salaries, “fringe” bene fits. $654 million in taxes. $264 million to stockholders ($2.40 per share). Depreciation, $630 million (into capital expendi ture fund). And $356 million retained in the business to help finance improvements, expan sions, creation of new jobs, etc. Ford’s net profit was less in 1966 than in 1965; and this year corporate profits are under 1966. This means that American industry’s surge to expand and create new jobs and new wealth already is crimped. Anything that further endangers it jeopardizes the economic future of all of us. PROPERTY TRANSFERS Newberry No. 1 Mrs. Jim Ellis Denny to Sara C. Lister and Margaret D. Clemmons, one lot and one building on Evans St. (reserves life interest) $5 love and af fection. Frank S. Hendrix and Mel inda S. Hendrix to H. D. Hen drix, one lot and one building on Poplar St., $5 and assump tion of a mortgage. Hal Kohn Sr. to Mutual Builders, Inc. one lot in Coats- wood, $5. Newberry No. 1 Outside Thurston Motor Lines, Inc. to Robert E. Summer Sr., two lots and one building in Cald well Heights $13,346. Tabor L. Hill, tax collector, to Ernest Singler, one lot $64. This deed was made in 1956 and recorded Oct. 3, 1967. Guy V. Whitener Sr. to Harvey D. Thomas and Joy W. Thomas, two lots $700. Silverstreet No. 2 Richard C. Neel III to Jimmy W. Bowers, one acre $5. Whitmire No. 4 Thomas F. Caine to Jordan C. Caine, one lot and one build ing, $10 love and affection. Prosperity No. 7 Samuel L. Gladden Sr. and Edna V. Gladden to Ellis D Boland and Irene G. Boland, ] lot and 1 building $5. COUNTY^ BUILDING PERMITS John C. Brooks, Route 3, Prosperity, one five-room brick veneer dwelling $12,900. D. A. Kennedy Contractors, of Orangeburg, postoffice build ing at Silverstreet, brick cem ent and masonry construction, $8,900. Dave Greenslade, Route 2, wood-aluminum chicken houses $30,000. Joel H. Derrick, 916 Dray ton street, one brick veneer dwelling with basement $7000. Marriages Joseph Sunside, Pelham or N. Y. and Claudette HtfSp of Newberry were married Sep tember 18 at Newberry. Conrad P. Hammond and Gladys Shealy of Columbia were married on September 20. Gerald L. Mills and Sylvia Ann Lynch of Newberry were married by Probate- Judge F. H. Ward September 30. Tested 23 times for quality Pour the one you're sure of... Pet Fresh Milk '68 Caprice Coupe; rear, Camaro Sport Coupe, "The Hugger" Dramatically new! Astro Ventilation makes the ride as quiet as it is smooth. With special new Astro Ventilation, you get outside air through two vent-ports right on the instrument panel. Just roll up the windows, open the vent-ports and get plenty of air without annoying drafts and street noises. It’s standard on Camaro, Corvette and the Caprice Coupe (available on many other models) and it’s one of the new ways Chevrolet show's greater concern for your comfort. No better value For ’68, you also get new riding silence, thanks to Chevrolet’s computer-refined suspensions. You get better performance, GM’s new exhaust emission control, proved safety features (the GM-developed energy absorbing steering column, for one) along with many new safety features. Drive the finest Caprice, The Grand Chevrolet, gives you new elegance everywhere. Camaro, “The Hugger,” gives you smoother acceleration and more of a true sports-car feel than ever before. Come drive ’68’s finest—now at your Chevrolet dealer’s! Be smart! Be sure! Buy now at your Chevrolet dealer^* GM MARK or (KCfUfNCC College St. Extn. KEMPER CHEVROLET COMPANY Newberry, S. C. 39-6088 Phone 276-1613