Newspapers / The Chowan Herald (Edenton, … / April 10, 1958, edition 1 / Page 2
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PAGE TWO I—otCTION OWE JPeople H|ye Built Up 25 Billion sDollar Annual Income Stabilizer 1 SBv Personal Protection Plans I j, ¥ R The American people have Bjuilt up an extraordinary system Ros widespread protection for the (individual and the family, much iof it on their own initiative and .by their own efforts, which has Ujecome one of the great stabiliz ers in the economy in the steady flow of income that it is bringing to millions of people. Figures compiled from Govern mental and non-governmental sources show that the combined public and private programs es tablished to protect the individual against the economic impact of death, disability and retirement are currently contributing the huge sum of more than $25 bil lions a year in the aggregate to the nation’s income stream. Establishes New Records This figure is the equivalent of about $1 out of every sl2 of total personal income for the year based on 1957 data. Both the to tal of the payments under these protection programs and their re lationship to aggregate disposable personal income have been go ing up steadily year after year, and are now at new record high levels. The biggest single ele ment of this great personal in come source is life insurance, its benefit payments representing close to a third of the total. With conditions as they are, it is interesting to note that the more publicized economic stabi lizers, such as a personal income tax reduction don’t come close to the total payments the people are now receiving regularly out of the individual and family protec tion programs they have built up for themselves. So far most of the talk about a tax cut, if and when this develops, as an anti-re cession stimulant, involves a sum of about $4 billions or so. This is little more than half the benefits currently being paid out of life insurance alone. It is likewise significant to compare the contributions that these programs are making to the nation’s income stream under cur rent economic conditions as against similar periods in the past. In the recession of. 1953, for example, total payments to indi viduals under combined public and private protection programs for the individual and family add ed up to just sl6 billions, or some $9 billions under the 1957 an nual total. Their proportion of total personal income after tax es in 1953 was less than 6V 2 per cent, about three-quarters of the current ratio. The comparable total in the recession year of 1949 was less than s9'/ 2 billions, or not much over a third of the current dollar figure; and its proportion then of the year’s total personal income after taxes was only 5 per cent, or 60 per cent of the 1957 ratio. Life Insurance in Key Role The public and private protec tion programs on which these figures are based do not include unemployment insurance pro grams nor public assistance pay ments. Neither do they take in to account the huge income flow produced by accumulated savings | or investments of individuals in such areas as savings accounts, U. S. Savings Bonds, savings and loan assohiations, real estate, and cornorate securities. With combined benefit pay- 1 SIR WALTER KENTUCKY STRAIGHT BOURBON i KENTUCKY I II STRAIGHT bourbon E S WHISKEY “!***, S'Jb ments of more than $7% billions i in 1957, life insurance was the j leading single component of the income flow produced by public and private protection programs for the individual and the fami- ( ly. Os these life insurance bene fit payments, approximately $7 j billions were from private .sourc- ; es, predominantly legal reserve companies. The balance repre sented estimated benefit pay- j ments under veterans life insur- , ance last year. Benefit figures for private life companies include I payments under insured pension' and retirement programs but ex- i elude accident apd health, a field ' in which the life companies play a major role. In recent years, jn fact, acci ' dent and health insurance has be- | come one of the fastest-growing' areas o fprotection for the indi vidual and the family against the impact of hospital, surgical and medical care costs and the loss of , income resulting from accident or Illness. Total benefit payments under these programs are esti mated at well over $4 billions for 1957, up 72 per cent since 1953 and over four times the total in : 1949, Pavments to individuals under accident and health protec tion now represent the third lar gest source of benefits naid bv nublic and private individual and family protection programs. Other Sources of Benefits The Social Security system, | which is backed by the taxing power, is the runner up to life in surance in total benefit payments to individuals under these pro tection programs. The estimated benefit figure for the OASI pro gram in 1957 was about $6% bil lions. Benefit payments under this program have been rising rapidly in the last few years as the result of liberalizing amend ments passed by Congress. Benefit payments under veter : ans’ programs represented an : other multi-billion dollar annual figure, and were estimated at ap ; proximately $3 billions for 1957. i Another $2 billions in benefits were paid last year under pension and retirement programs under ' Government sponsorship—Feder ; al Civil Service, State and local ■ government and rail -1 road employees. Other programs, including noninsiired private pen sion and retirement plans and workmen’s compensation, paid about $2 billions in benefits last year. YOU'LL FIND IT IN THE WANT ADS! EASE THROAT! Buy soothing, sanitizing, OLAG Tooth Paste at the drug store. FOR SALE —BOXER PUPPIES, AKC registered. 1023 North Broad Street, Edenton, N. C. Phone 3537 or 3517. tfc FOR SALE 1956 TRAILER. Call 3482 for full, information. ltpd APARTMENT FOR RENT—TWO | rooms and bath. Furnished. I Contact R. P. Upton, Badham Road. lt p FOR RENT TWO-BEDROOM house, completely furnished on Highway 32 near the base. R. R. Hall. Phone 3583. ltc FOR RENT SPACE FOR j house trailer on West Albe-I marie Street. Call 2292 after) 2 P. M. ltc TWO UNFURNISHED APART ments for rent. Six rooms or 3 rooms. Reasonable prices. Phone 2346. apr3,lopd WANTED SALESMEN TO DO door-to-door selling and collect ing. No experience necessary but must have automobile. Guaranteed salary against com mission. Apply at 810 North Broad Street between 8:00 and 10:00 A. M., Monday through Friday. apr10,17,24pd FOR SALE ONE SEIGLER t heater, one Duncan Phyfe sofa, one wing-back chair, one man tel mirrow, one picture, one dresser, two wardrobes. All in perfect condition. Call 4162. ltc HELP WANTED—MAN WANT ed to supply Rawleigh Products to consumers in Chowan Coun tv. Big insecticide season just ahead. Good time to start. No j canitai reouired. Wrt*e Raw- | Sigh’s, DeDt. NCD-*SI Richmond, Va, apr3,10,17,24p J, FURNISHED APARTMENT FOR j rent Inquire at Burton’s Texa co Station. apISHE* ■ * - rag CHOWAN HERALD, EDENTON. NORTH CAROLINA, THURSDAY APRIL 10, 1951. (CIVIC CALENDAR Continued from Pago I—Section 1 I Edenion Rotorians will meet this (Thursday) afternoon at 1 I o'clock in the Parish House. | The Women's Society of ; Christian Service and the Wes leyan Guild of the Mehodisl Church will sponsor a chicken salad supper Thursday. April 17. The Fidelis Wives Club will entertain their husbands at an Italian dinner in the game room of the Staff NCO Club Tuesday night, April 15, at 6.30 o'clock. James M. Johnston will be in i Room 209, Citisens Bank Build ing through April 15 to assist in filing income tax returns. Chowan local NCEA unit will i ■ sponsor a community banquet i Friday night, April 18, at 7:30 , o'clock for all who are interested | in education. Cub Scout planners will meet Monday night, April 21, at 8 j o'clock at the Lions Club. Revival services will be held in the Edenion Baptist Church from Sunday, April 13 through Sunday, April 20. Tag Day will be observed Sat urday. April 12, from 10 A. M., i to 5 P. M„ to raise money in the cancer drive. VFW Auxiliary will meet to-' night (Thursday) at 8 o'clock, al j which time new officers will be I Sponsored by the William H. I Coffield Post No. 9280. Veterans of Foreign Wars, dances are be-! ing held in the Post home every Saturday night. I Saturday. April 19. at 12 o'clock noon js the deadline for candi dates to file for office in the pri mary election to be held Satur day, May 31. installed. The 25th District Federation of Home Demonstration Clubs will meet at Poplar Branch Friday. | April 18. at 10 A. M. Youth Week will be observed at | Rocky Hock Baptist Church Sun-, dav. April 13. D & M Superette will celebrate its association with Red & White' Food Stores by observing grand i opening today (Thursday) Friday! and Saturday. A meeting in an effort to re organise the Albemarle League will be held in Hertford Friday night. April 18. Chowan Tribe of Red Men will meet Monday n’ght at 7:30 o'clock. The Fidelis Wives Club will sponsor a pie booth in the Eden ion armory Thursday, May 1, with orocesds going to the Eden ton PTA. Annual cancer drive is now in progress in Chowan County. ( Edenton Lions Club will meet j , FOR SALE—TWO CARTS AND >i wheels. In good condition. If I interested, see Isaac Byrum, | Tyner, N. C. apr3,10,17p WRECKING NAVY BARRACKS EDENTON, N. C. Last Few Days! Buy and Save... <p 4 <6 <E a* »p >p ALL BRIGHT DRESSED LUMBER 2x10x14 6c per ft, 2x6x10 6c per ft, 2x4x10 4c per lineal ft. | 2x8x14 6c per board ft. I Ixß T&G Sheeting, Ix 6 Box Edge Sheeting 6c board ft. I Lap-Siding per M $40.00 Good Pine Flooring per M $30.00 ABC Demolition Corporation Call B. G. MULLINS Phone 3679 ltfc i __ I SPECIAL! j 1 Building For Sale 12-ft. x 14-ft. with A roof ... 10- ft. ceiling: 2 window*, 1 door. No Reasonable Offer Refused! Contact MR. MULUNS 209 E. King Street PHONE 3879 ABC Demolition Corporation ltfc v WANTED TO RENT HOUSE trailer for two (2) months. Phone Edenton 2979. mar2o,27,apr3,lopd typewritkw AM)?ADDING machines. New and used. Edenton Office Supply, 102 E "< —— fit,, |,f . uu „*«' .•I--.- i, f I I? |JL ;s^iiW|pw| *■Jill ' *' Sf' * - Jllij* lE' v *ll SL I * I. v i ■" jffll’ Acs I gfir i ,4 - S -fp : . ■■ | ’ if 4 x |,y v vV van V SwKFSß&ikisJ* DOWN THE HATCH—This Is the way members of an Army Enfineer unit from Fort Belvoir, Va., will soon be entering their summer home en the Greenland icecap. Doing research on storage problems In the Arctic, the men live under the snow in “homes” provided even with hot and cold running water. 'Monday night at 7 o'clock. | William H. Coffield Post No. 19280, Veterans of Fore’gn Wars. J will meet Tuesday night at 8 I o'clock. The American Legion Auxiliary , will meet Tuesday night. April 22, at 8 o'clock at the home of Mrs. J. Paul Holoman, An emergent communication of; Unanimity Lodge No. 7. A. F. 8e; A. M., will be held tonight IHome For Sale!! 11 LOCATED CYPRESS ROAD 1 I B Opposite Westover Heights * Be! |f i Three bedrooms, paneled den, living B j i room, kitchen with dining area and @ ;j 0 bath. Hot-air duct heating system. H I House is insulated, storm windows B || and garage. Large lot. ' I OWNED BY EMMETT DALE I 1 Contact Rudolph Dale I I Phone 3123 or 3064 >; WESTERN AUTO STORE Re r pair all types of washing ma , chines, outboard motors and 1 power mowers. tfc PICTURE FRAMING—FOR THE best in custom picture framing see John R. Lewis at the Eden ton Furniture Company. Com plete line of moulding to choose from. tfc FOR SALE—TOP DUROC AND Hampshire boars and gilts. Priced reasonable. Clarence Chappell, Jr., Belvidere, N. C. Phone Hertford 4978 or 4979. mar2B,apr4,ll,lßc LADIES FOR YOUR UPHOL stery needs let Autry’s Uphol stery on the Windsor-Edenton Highway just outside of Eden ton, pick up and deliver free. We specialize in retying springs and have a wide selection of tapestry, nylons and leatherette materials from which to choose. Phone 3832. tfc FOR SALE Cabbage Plants i Onion Sets Seed Potatoes i Complete Line, of Vegetable Seeds E. L. PEARCE Phone 3139 Edenton, N. C. tfc WANTED—HONEST CAB DRlV ers. See W. J. Jordan or caM 3114. tfc MAN WANTED—(ISO.OO weekly earnings and higher possible in your own business. For nan over 25 and under 60 of good character and credit reputation we provide all needs except $40.00 yearly Bonding fee. Will) need car or light truck. Co*-] pany Nationally Write today to The J. R. Wdtrj kin* Co., P. O. Box 9071, Rich-1! tnond, Va. apr3,lo,l7c>l (Thursday) at 8 o'clock. Sponsored by William H. Cof field Post No. 9280, radio-dance programs are being held al the Post home Saturday afternoons beginning al 3 o'clock. LIONS MEET MONDAY Edenton Lions will meet Mon day night, April 14, at 7 o’clock, j President Medlin Belch is very j anxious to register a 100 per rent meeting. CASH REWARDS! Rewards in cash will be paid to any citizen furnishing informa tion on bootleg -Stills in Cho wan County. Report violations to ATU officers, Box 671, Eliza beth City or to ABC Officer Ti-oy Toppin. All information i will be held in strict confidence “King of Swine” Mammoth meat type OIC. Ser vice boars and gilts. Minton’s' Ranch, Merry Hill, N. C. mar20,27,apr3,10c Industrial Equipment —for— Wheel Type and Crawler Tractors Backhoes, Dozers, Trenchers Crawler Tractors With Winches Loaders, Landscaping Rakes —See or Call— Hobbs Implement Company PHONE 3112 Edrateh. He Ce * 1 ■; General Contractor AND ‘ Repair Work of All Kind I Town Councilmen Hold Brief Meeting Continued from Page —Section i By the General Statutes, so open ing of these bids was postponed until the May meeting op May 13. The committee investigating the erection of a new building for the Street Department on West Hicks Street reported having con tacted contractors, and J. Clar ence Leary and J. Edwin Bufflap were instructed to secure the ap proximate cost for a cement block building 125 x 42, and report back at the next meeting. Raleigh Hollowell reported on the parking area in Ahe rear of the business firms on the east side of Broffd Street, but said no solution could be reached until it could be learned if the County Commissioners will give 10 feet of their property adjoining the town’s property for constructing a street from Eden Street running up to the hotel property. The Councilmen also reported having made some investigation relative to finding a suitable place to use as a city trash pile but that no sites were found. The present trash pile is filled to ca pacity and . a serious problem has developed as to where, to haul the great amouftt of trash and garbage collected in Edenton. Clerk E. J. Ward, Jr., was au thorized to advertise delinquent 1957 taxpayers on Monday, May 12 and for a sale of this real es tate to be held Monday, June 9. Following payment of the bills for the month, the Councilmen adjourned. ROTARIANS MEET TODAY Edenton’s Rotary Club will meet this (Thursday) afternoon at 1 o’clock in the Parish House. President Robert Marsh urges every Rotarian to be present. loot fqrSbimilyl I I Want to drive a bargain? Take a look at the good used I 1 cars we’re offering NOW at fantastic reductions. Yon Ij J will agree that our values defy duplication,. . . They’li I I move out fast. Lome early! . * I f OLD PRICE SALE PRICE 1 I 57 Oldsmobile Super “88” ®oinr I I Four-door Fiesta Station Wagon. Radio, Heater, **SX9O I fl White Sidewall Tires. Air-conditioned. One owner. . B ’57 Buick 2-doot* Sedan $2295- 1 fl Radio, Heater, Automatic Transmission. Whitewall fl ■ Tires. One owner: B ’56 Ford Fairlane Station Wagon $2195 $1895 i ■ Country Sedan, 4-door, 6-passenger, fully equipped. fl ■ Air conditioned. One owner. Low mileage. B ® ’56 Chevrolet (210) 4-door Sedan $1595 $1 * B Radio, Heater, Automatic Transmission. Whitewall " jg| B Tires. Two-tone Paint. B ■ ’56 Ford 2-door Fairlane #ISQS hl/ifttr 1 ■ Thunderbird Engine. Overdrive. Power Steering. fl i ■ Whitewall Tires. Extra clean. fl ' ’56 Chevrolet Belair 4-door Hardtop $1895, $1795 I ■ Power Steering. Power Glide. Whitewall Tires. fl ( H Two-tone Paint. Extra clean. One owner. B i ’54 Buick 41-D 4-door Sedan $1095 SQQ!t I mg' Radio, Heater . . . One owner. Low mileage. Two- fl B tone paint. > ~ fl ’54 DeSoto Power Master <*&£7'AJSL 4-door Sedan. Power Flite Transmission. Radio and >§?» ' ,isl Heater. One owner. Extra clean JV V; * B fl ’53 Olds “98” 4-door Sedan fl Two-tone Paint. Fully equipped. This is a real bar- * / fl gain for a quick sale! -•flBB k -. .fl ’53 Ford V-8 Customline so9sr |*§Sos- 1 fl 4-door Sedan. Radio and Heater. One owner. Good * > fl transportation! , jj| ’52 Ford V-8 4-door Sedan ■ . Paint. . **A it _-.- |-fl | ’sl Pontiac 8-cylinder Chieftain fl fl Deluxe Catalina. Radio, Heater, Hydromatic Trans- fl ■ mission. Priced to sell! ' fl •'B SSL *. ' ’sl Ford V-8 Custom 2-door Sedan s39©|ws34s . ■ *! New Tires. Fordomatic Transmission. Radio fcnd - . 3?s- fl ■ Heater. "J, •f. -a '**'■>±7 ■ H I 4 - ’slFord Y-8 Crestline 2-door Sedan $39.W"g fl fl Two-tone Paint. Whitewall Tires. Radio and Heat- Kt S •wfPWRrT-' ■ er. Good clean transportation. *4ij .v'.v ■ 'fl fl FIDELIS WIVES CLUB WILL « SPONSOR PIE BOOTH Sponsored by the Fidelis Wives Club, a pig booth will be operated in the Edenton armory Thursday, May 1. All kinds of baked goods will be on sale and the proceeds will go to the Edenton PTA. FIDELIS WIVES CLUB TO ENTERTAIN HUSBANDS Members of the Fidelis Wives Club will entertain their hus bands at an Italian dinner Tues day night, April 15, at 6:30 o’clock. The dinner will be held in the game room of the Staff NCO Club. jNtiwirwwi-i*r * >. / ■ • i • '4 ' , ■ ' ' ‘ • —Schenleq Golden mj AGE jsKpfL’ i i, ■ $2.30 /4Sf purr i Jpw ! I ■ m SCHENLET DISTIUEIS CO. DISTIIUO 111 (IN. FtOM 100% SIAM NEUTIAL SPIIITS. 00 HOOF. SStotitfl l *E3Efe 1 Come iii While we still JuHImW have your favorite varieties in our large UiV assortment of vegeta ,ble and flower seeds. E. L. Pearce SEEDSMAN Phone 3839 Edenton
The Chowan Herald (Edenton, N.C.)
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April 10, 1958, edition 1
2
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