Historical Newspapers of South Carolina

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PAGE 2 The Newberry Sun, Newberry. S. Thursday, Dec. 28, 1967 1218 College St., Newberry, S. C. 29108 PUBLISHED EVERY THURSDAY 0. F. Armfield, Jr., Owner Second-Class Postage Paid at Newberry, South Carolina SUBSCRIPTION RATES: $2.00 per year in advance Six months $1.25. BABSON'S K)KK( AST (('<>ntinned f nnn pa^e 1 > 15. But the tremendous out pouring of money during the whole of IddT will continue, for some months, to exert upward pressures on interest rates and the general price level. It will also have an ener^izin^ effect on business. Hence, as money flow is cut hack next year, there will be a delayed depress ing effect on interest rates, prices, and business . . . prob ably after midyear. Id. There will be repeated raids on the dollar; but it will not be devalued in 19bH. 17. There will, however, be many discussions between fin ancial experts here and abroad to develop a lony-ranye plan fur re valuing in term-. of gold an a morv r» al i'tic basis ■ - tli* 1 currcncU's <> f all t he Free World IS Tin* tally 1 90S uptilt in tills lilt s - vuintm* will give a lift t. i cu r |>< ua t < pi’ofi ts; the fanning <>ut of wage boosts. hnwev t*r, along with i rising rusts and taxes will later havt a sqll I'ozing rffi i-rt on profits 19. Short term inter* ■st rates will r ist* faster than h mg -term m tin 1 months ; ihead. 20. T h f s will have a res- trirtiv e impact on the availab- : 1 i t y and cost of mortgage f tinds. 21. In turn. the recoverv now under way in home huildinp- will be restrained and perhaps reversed as IddK moves alonj^ — but apartment construction should remain in an uptrend. 22. Inventories will rise — perhaps sharply in the first half of 1 IMtS tape) off late 22. Busine-e capita! expen ditures should start the year on a strong- Hot t •; hut a S the yea r advances, !"•' i >s pert: - for further gams W i 11 b (h •oine <1 minei r 24. W ith u act gu ah dimes now i definite ly junk led, t hei e will 1 >r a s 2 a unpe de hy labur gener, ally ti l ) bring foll ! rat t gams i n line with til e IlUg' e ad- vance s madt b_\ th e F nitotl Auto We irke: rs ; tin ; umual sal- ary ronrej >t fio produ r t 1" n WmI ke rs will gam f urtiu'i ae ceptance in i: »0S t > V a !! u mbe r of Amer .tan i ndus ; ;■ es. 25. A labor fea i [111 •e fur t he eom n g y ear \\ bi h t' widt j ' r t ■ a i i Dupp; igw ' b; C .tat l *, t . t y « 1 i i < 1 local pa bi < ■lllph 'Vi t*r - , t 1: * battle on t in fr> m t. w . i i . ill t : 1 y be long and b 1111 r 2 1 > Wit h elect if :. i on.my m the autumn. <'onrress will not vote any p-M net jve ial -■: !en r ts!at ion in 11e'>s \ 11 ho ;eh \\e anticipate that c re i t . "U t nds may po- >ibiy be , n vok» d in tin- A dm. n t rat au! 'c t r yde with inflation, thee i - no i hanct' t ha’ an>' seri< ui- a* tempts will be made to impo warre conrtols. 27. rpward pre.- are- on the cost of iivin.il wall be intense fied duriny the firs’, h.alf of the new year, with advanct- taperiny as autumn ai>proa< he-. () ver al 1, we look for a riot her increase m Iwatiy '-xpeuses of over 2 per cent and it would tmt surpn . a if t'a' toll should rise to the 1 per cent level. The “bad boy w 1: eontinm* to be -oaritH’; -er\ ,c< (*osts—especially imdicai and upspirals in transportation and finished-yoods tays. Food may inch up ;i little more as proces- my eosts mount furthei , hut prospective plent ful suppdies will act as a controlliny factor. 28. Total cash receipts from farm marketinys - hould ad vance moderately over fiyures for 1 !M)7; however, the relent less up-push of costs will take its toll, and farmers’ net in come will do well to improve even sliyhtly . . . notwithstand iny some relief from hiyher yovernment payouts. Larye marketinys promise to restrain cattle quotas and hold this source of farm income in its recent low profitability yroove. Meat prices, however, propped by hulyiny expenses, wall hr* well maintained to firmer for ‘he year. The consumer with storaye facilities may benefit from time to time by watching carefully for sales and takiny advantaye of any buyiny op portunities provided by occas- "na! run- of cattle fed to ex tra-heavy weiyhts. Apparent ib termination by yrowers to cut hack on poultry output buea’ens to deprive housewives of oni* of her most prolific outre of reasonably priced meat 2!t Real estate will he a many-sided market in IbtiS. Prices for sinyle-family homes v. ill continue to advance as construction fails to satisfy rismy demands and as all huildiny costs move hiyher . . . particularly duriny the first half. Demand for rentals in th< middle and lower brackets will yam steadily; however, ability to satisfy these needs will be evercly hamstruny by even more costly and scarcer mort- yaye money. Speculative pur chases and the salability of vacant property especially that in less desirable areas— wall suffer from the dryiny up of funds to carry . uch pai c ds. Broadly, tin* betterment that set m duriny the final six months of 1 Pt',7 will probably not be ma ntamed hmy in l'.b'«8. 20 Hivhcr pay -call's. the i• ffi• <■ t nf r cent increases in total money supplies, Ir.yyer uirial seeurit>' outlay.', and fur ther aiKances in di posable in- i ome promi-e to yiv ■ v ■ ry t rony support to retail t rade duriny the early months of 1 90S and for - omv time be y o n d. I Ody mm 11 r 'hadow i s tin * evi- dtun rel ut tanre of COl .sunn rs to u a i- })• ; i v i i; v mto debt a w in ■ t -t't ■ f it y t ■; t is . The 1 su rrh a-ing p i ' W t ' )■ u a 1! 1 ae tie us ■, ami o n 1 y an " pt mi .'lit ■ sh ft i n t • o n .- aimer atilt Utlew w i! 1 he 1 see ts-sa r V to r ng u t> r t-i ■oni ale s Ltam- ma y 1 ii- s to 10 p urr tmt at bm t tin ring the f; r-t ha if \ - ar. 1 .ate r, effurt s of tile Admmi.- ’ rati oh ai 111 I *f the m i mey man - a gei . po r o.i i 1 tlw mf! a t' 11 n t h ru taxe - am 1 r Ut bark oi go ivern na • t 'tpe ml ng m; iv '!o\\ th* ram of 1 ■ft a il upt urn :;i The t n imd in ? t • rent \ ears has } >ei m it ', iwaid ;i tlwi ml!; ng margin < T I S. * X ’ ourt ' i we r i m H' 'l't s Th s ha- ' i 1 utne at a bad • i m * • for < i ai r ( h ro tli. con- si ti t».n ot ’ mil sal a nr t ' i n. 111 ur in- to 1 '! i a t i o i ial p a v nn a It !'" 'i t io’i. 1 >' \ ■aluat <m of th pu un d ami utls ' r et I * nuit ■. t * s t '; i s 1 mi ■ t o u r V : 1 ,'i ’ 1 it \ ’ a . X n a i 'll! t • \ Ml 1 rt - at a i' \f- i i a a I ! some nt foi our h alanrt of paym I lit . <; rca l ♦ •st ho pu for )fy in 1! 90S ; s t hr it }• ''.ut epean nat .'UlS that h UlVt * but n in a bus mess slump w ii 1 e nji iy n* rov cry mak ing a better market for our 10 T ) ducts there We fore cast that ( mr g u vci n mi nt wall discuss, and perhaps implement, export subsidies dur.ny the year ahead . 22. Current talk of the pos- -ihility of an even “hotter" summer ahead m our racially imhalaneed lay cities should he discounted. Preparations al ready made and in the making should reduce the danger of the firestorms suffered in 1967. We feel that real advances have been made thru the ballot box in major mayoralty elections. Another hopeful sign is the ris ing trend toward responsibility for bettering conditions on the part of businessmen and the private sector. We are willing to stick our necks out and pre dict that the summer of 1968 will not be as “hot” as was 1967’s. 33. However, we are not op timistic on the course crime is pursuing. Recent reports in dicate that Americans will hi* in even greater danger of being murdered, maimed, or lobbed in 1968 than in 1967 (a frightening one out of 44). 34. Money pressures—from lessened availability and higher cost—point to lowered liquidity next year . . . with an attend ant increase in bankruptcies, moje difficult collections, and r’sing foreclosures. 35. We anticipate a year ol ranidly shifting attitudes to ward the stock market and to ward groups of stocks and in dividual issues. Early-year up sweep in business and select ively higher profits—combined with a liberal sunply of money following the Fed’s huge out pourings in 1967— should pave the w r ay for further progress by the popular stock averages. Later, as the battle against in flation intensifies, the stock market may become subject to a painful reassessment. 36. A year ago we predict ed that in 1967 the “old aris tocracy of th eblue chips based on p°st performance” would “be replaced by a new aristoc racy of super-able management based upon hopes of good fu ture performance.” Now it looks as if many of the issues representing concerns with suoer-able forward - looking managements have just plain become overvalued in the mar ket place. We believe it will be unwise in 1968 to chase after such. 37. As a consequence of the developing money squeeze, (Continued on page 3) OF YOUR SAVINGS INSURED SELECT YOUR HOME LOAN PLAN CAREFULLY... Make sure there are no exorbitant initial closing- costs. Make sure you do not pay a service or initiation loan fee. Don’t pay more than a reasonable interest rate with a plan amortized over a definite period of years which will assure you debt free home-owner ship. If you wish to purchase, construct, repair, refinance oi* remodel your home, we can save you money as we have thousands of others. We have ample funds at all times for any purpose as relates to home owner ship. Let us tell you about it today. (j^/AVS.YGS AND LoAnAsSOCIATION John F. Clarkson W. C Huffman A SAVINGS INSTITUTION t O U N L> L D Ifi20 COJULEOB STBEBT, NBWBEBRY, 0. O. DIRECTORS J. K. Willingham E. B. Pur ceil A. E. Morehead J. M. Rawls, Leesrille, 8. C P. M. DeLoaehe, Saluda, S. C.