Newspapers / The Chowan Herald (Edenton, … / Dec. 18, 1958, edition 1 / Page 16
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PAGE FOUR THREE Expenditures Os Trust Funds Pace , Increase In Government Spending , 4 Federal trust funds, which are! built Into the Government’s tax ing power but which operate out I side the Federal budget and its | restrictions, have been setting the pace for the general rise in Gov- ] eminent expenditures over recent years, according to an analysis of, data compiled by the U. S. Bureau j of the Budget. In today’s highly inflationary atmosphere, this trend takes on | added importance from the fact •that the mounting cost of Gov ernment, and its impact on the people and on the economy, have become a major domestic prob lem. The Recent Record Eureau of the Budget figures show that total Government trust fund expenditures reached a rec ord high of more than sl6 billions In the 1958 fiscal year which end ed last June, and were the equiva lent of more than 22 per cent of all Federal budget expenditures for the year. The comparable fig ures in the previous fiscal year; were sl3 billions and less than 19 per cent. As recently as the 1953 fiscal year, total trust fund ex- j penditures were little more than $5 >4 billions, and were then! equivalent to only about 7 per cent of Federal budget spending, for that year. Thus in dollar totals and in pro-, portion to Federal budget spend-1 ing. trugt fund outlays have more than tripled in the period since | the 1953 fiscal year. Indicating 1 that the trend is continuing, esti- j mates for the current fiscal year; place the total of trust fund ex penditures at more than $lB bil lions, equal to nearly 23 per cent of the record peacetime budget expenditures of more than $79 billions anticipated for the 1959 fiscal period. A substantial increase in pay ments out of the unemployment fund has been a factor in the rise in trust fund expenditures in the past- year. Over the longer term, however, the dominant expansion ary element has been rapidly ris ing payments out of the OASI fund, reflecting a combination of! a steady rise in the number of | peraons on the benefit rolls plus ] periodic liberalization of benefits, i How They Operate There are hundreds of separate Government trust and deposit ac counts. the origins of which go back many years. The dominant type in terms of finances is the welfare program, symbolized bv OASI which alone represents about half of all receipts and ex penditures of the various trust funds put together. A develop ment of recent years is the eco nomic-type of trust fund, a major j Negro Home Demonstration News ) I By MBS. ONXIE S. CHARETO.V, County Negro Home Economics Agent The big snow postponed our j you are as busy as bees gettingj Achievement Day program. At ready for the Christmas season. I this time we cannot say when wo! believe we enjoy Christmas most Will have our program. We know because we prepare for it more Calvert RESERVE f! ■ '-'4/5 qt. kkmm** • aU.BQIM»f • »S% GUM KUTIAL SHUTS • OIS6B CALVES! OISI, CO., MX y , .L i • i example of which is the highway i fund for carrying out the planned j 40,000-mile road-building pro ! gram. Most of these trust funds, and the appropriations required for their operations are embodied in j permanent laws. Unlike the bulk ; of Federal budget outiavs, they do not require annual action by Con gress. | Popular attention to Govern ment spend ng is concentrated on the Federal budget totals, and these alone have reached a level for peacetime which are attract ing increasing concern in and out |of Government. However, to ; measure the full impact of the i flow of funds from the Govern ment into the economy, trust fund operations must be included, as is done by the Budget Bureau in its data on Federal Government | receipts from and payments to the public. Here the magnitude attained by | trust fund operations becomes ap j parent. As aga'nst Federal budget i expenditures Ot some $79 billions | anticipated so the curernt fiscal! | year, total Government payments to the public after adjustment for duplications are estimated at $94 billions. Such a figure for overall t I Government spending was ex- I ceeded only once before in the 5 nation’s history, at the height of World War II expenditures, and ! then only by a margin of about j a billion dollars. The Disappearing "Cushion" ' Up co the present, total Gov ernment trust fund operations have almost invariably shown an annual margin of rece.pts over expenditures. As a result, taking the accounts of the Federal estab ! lishment as a whole, these sur i pluses in trust fund operations have represented a cash “cushion’’ to aid the Treasury in the financ i ing of budget deficits or to pro vide funds for additional redue , tion of publicly-held debt in the 1 few years in the last three dec ades in which the budget ran a surplus. Surpluses in trust funds | are. by law. required to be in j vested in Government securities, j and these funds currently hold about a fifth of the public debt. But this “cushion’’ of surplus i cash in the trust accounts, in re ; cent years running as high as $4 , i billions as in the 1951 fiscal period has practically disappeared, ror the 1958 fiscal year the margin of receipts over expenditures in ; trust fund operations was only a quarter of a billion dollars as . against 81.4 billions the year be , fore. For the current fiscal year, • an SBOO million deficit is antici • pated in these accounts. THE CHOWAIf HERALD, IDENtqN, pECgMBER It, 1958. TOWERING TRIBUTE— Towering 101 feet above ground near the nation’s Capitol is the Taft Memorial Bell Tower. Constructed of Tennessee it was erected in the late Ohio Republican, Sen. Robert A., Taft. Cost of s m $900,000 was met with voluntary contributions. whole-heartedly than for any oth- j er holiday. I We buy gifts for the family, rel- ; atives, and friends. We cook all 1 I kinds of delicious cookies, cakes,! candies, pies, etc., and decorate, our homes with green shrubbery. 1 bells, colored lights, etc. Today,J I am going to talk about decorat ing a Christmas tree. It is not necessary for you to: , 'spend a large sum of money for, Christmas tree decorations just to make your tree look like some- j, one else’s tree. You can make, your own decorations from things right out there on the farm and still have a very beautiful tree. First, go out into the woods' and select a good well shaped] cedar tree, with full branches close to the ground. Remember, to select a tree that will fit the, place you plan to use it. Be sure to make a stand for your tree and j keep it in water or wet sand. -j Decorate the tree with things that the chi'dren like to eat. You I may use long strings of peanuts, [ Doocorn. nuts wrapped in color- j fvd eelonhane paoer, gum drop, candy along with bunches of rai-l sins and dates. You may use other things from the farm to make your tree pret-! ty such as: Pine cones, sweety gum balls, cotton balls, sycamore ' ' balls and newspaper balls! Dip these cones and balls in left-over paints, enamel, gold or j ; silver, and sprinkle them with colorful buttons, stones from dis-1 , carded jp"a>i rv . beads, seaums o”| glitter. Tie these ornaments to I the tree, and place the tree in the: favorite corner of your room, i j Place all of the gifts that have! been beautifully wrapped under I the tree. Christmas Cookery ;j M ake vour friends and familv happy with special food • | throughout the holiday sea 1 i son. I E vervbody will welcome a food i gift f’-om your kitchen. R eady homemade candies, cake baked products or jams. R efreshments for evervone cal’ for “extra trimmings” on sim p'e foods. Y bu will enjoy adding the ex tra touches to foods that wil' bring ooohs and aahs fron both family and friends. C hildren will enjov candied an pie lollipops and rice krisp'- marshmallow snowmen. H ave informal get-togethei Good Reading for the Whole Family •News •Facts • Family Features The Chrletton Selene* Monitor On* Norway St., Botton IS, Matt. Send your nmpaper for the time Checked. Encloied find my check or money order. I year SO □ « months $9 □ 3 mcntA «SO □ | MfS, j I “ -e* —■ iag ,w w • CM serving fruit kabobs and frosted milk drinks. R ed and green loaf bread makes gay holiday sandwich es. I t’s fun to make a variety of cookies from one basic recipe —decorate with crystalized fruit, nuts and Christmas can dies. S erve fruit cake, puddings or mincemeat pies for party re freshments. T op puddings or cake slices with flaming sugar, cubes— dip or dampen sugar in lemon extract and light before serv ing. Sugar will burn for sev eral minutes casting a soft glow over the table. M incemeat upside down coffee - cake sounds good. Place mincemeat in bottom of pan, j add your favorite coffee cake recipe and bake. Apples, oranges, nuts and oth er freSh fruit make nice cen terpieces. Add greenery for more festive appearance. S anta will be happy if remem bered with that big slice of |.. cake and big glass of milk on Christmas Eve. i . . Tbas. Frank Chanoell Heart Attack Victim j Charles Frank Chappell, 66. ■ died suddenly as the result of a I heart attack at his home n°ar Tyner Thursday night at 9:30 o’clock. j Surviving are his wife. Mrs. j Nealia F. Chappell; three sons, jJohnny F. Chappell and Herbert L. Chappell, both of Tyner, and Elton T. Chappell of Edenton; a daughter, Mrs. Scott Byrum of Portsmouth; two half broth ers, Alexander Bpyce and Leroy Boyce, both of Tyner; a sister, Mrs. William Byrum of Whalev ville, Va.; two half sisters. Mrs. Alton Moore and Miss Ella Mae Boyce, both of South Norfolk, ">nd 14 grandchildren. He was a member of the Happy Home Church, where fun eral services were held Sunday •Hternoon at 2 o’clock. The pas tor. the Rev. Gilbert Harrell, •ifficiated and burial was in the church cemetery. fimm i«wwia,u.u... j j j - I l MOST VERSATHE TAOTOROLA STEREO IOOH EIOEIITV I J 0 PORTABLE PHONO .. • SOUNOE TINE EVERTHTTTEBE yv.wmAui iiwiwyv:--'W^?yr^ ] Makes stereo sound good in every room. He- lo vreST-FRICED. FULL-SIZE TABLE-MODEL TV WITH | orf h ar b apart 16-watt m dual P chlnLt amplifier. EXCLUSIVE ’59 MOTOROLA TUBE SENTRY SYSTEM l * 4 speakers. Separate tone controls, balance con- DeDendabilitv of Golden "M” 1 trol. Dual sapphire stylus. Luggage-type car- Tubes, hand-wired Power "M” C-Charcoal fc*i>i 1 I rying case. Spice Brown, chassis. Plus features of Mo- a_t ow a. | leather textured covering. torola models costing much A y (Model SHI2; $1.50 ' more. Finishes: Charcoal, $2.50 > t ..... Grained Mahogany or Grained , . 1 A Week Blond. Model 21T57. A Week j $50.00 off on Any 21” TV I f PURCHASED FftOM NOW TIL CHRISTMAS 1 SORRY, NO TRADE-INS ON THIS OFFER! . 1 Western Gas Service 1 j I Phone 3122 Edentort, N. C. -, y y C/ \Mnrfl "Does This Meon I've Flunked?" Stood On His Dignity “Hi there!” yelled the officer ( of the watch on the bow of a i magnificent liner, “get that dirty j little tub of yours out of the 1 .. I way. i The smalf man standing on the barge below stuck out his jaw aggressively. “Are you the captain of that ship,” he demanded. “No,” returned the officer, j puzzled. “Then dashed well speak to your equals,” snapped the little fellow, “I’m the captain of this one.” wvvvv wc\ | FACES -A. CHALLENGING Icriviljpr FUTURE / .6. • • ml ft . j _• . <*>" *V-« For some 290 nautical miles the famous Inland Water way cuts through eastern North Carolina rivers and sounds to provide a safe inside, all weather water route preferred by shallow craft, freighters, barges and nearly all of the North-South yacht traffic. Ihe route passes many of the most interesting and historical spots in North Carolina with frequent \acht basins offering every facility, enhanced by unspoiled native hospitality and atmosphere. Every year its traffic is increasing. The natives of Eastern North Carolina, as in most coastal areas, are bom to face up to realities in a prac • tical manner, which is one reason why this area sub scribes to the ’’legal control” system ot beer and a!c us being in the best interests of all concerned. North Carolina Division UNITED STATES BREWERS FOUNDATION, INC. Beet-the light, Buight Buight Beueuage of i Legal Notices EXECU’i ORS' NOTICE j Having qualified as co-execu tors of the estaty of John E.! I Bunch, deceased, late of Chowan I County. North Carolina, this is to notify all persons having claims against the estate of said (deceased to exhibit them to the i undersigned at Edenton, North Carolina, on or before the 18th • day of December. 1959. or this | notice will be pleaded in bat of ! their recovery. All persons in- I debted to said estate will please ’ make immediate pavment. | LLOYD C. BUNCH and 1 LUTHER BUNCH. Co-Executors of John E. Bunch | Estate. dec18.25Jan1.8.15.22c I EXECUTRIX NOTICE | rof the estate of Junius white. Having qualified as Kxcciitrix deceased, late of Chowan County. North Carolina, this is to notify all , persons having claims against the estate of said deceased to exhibit them to the undersigned at Route 2, Hobbsvilie, North Carolina.' on or before the 18th day of December, 1959, or this notice wil Ibe pleaded in bar of their recovery. All persons in debted to said estate will please make immediate payment This llth day of December, 1958. LEONA PARKS WHITE, Executrix of Junius White Es tate. North Carolina, cra>wan County. NOTICE Os sALE OF LAND UNDER DEED OF TRUST Unde# and by virtue of the power of sale contained in that certain deed of trust executed by William Ernest Alexander and wife, Doris T. Alexander, dated the 10th day of April. 1957. and recorded in R. E..800k 71, page 464. in the office of the Register of Deeds of Chowan County, North Carolina, default having been made in the payment of the indebtedness thereby secured and said deed of trust being by the terms thereof subject to foreclos ure, the undersigned Trustee will offer for sale at public auction to the highest bidder for cash at the Court House in Edenton, Chowan Countv, North Carolina at NOON, SATURDAY, the 3rd day of JAN jUARY. 1959, the property convey ied in the said deed of trust, the same lying and being in Edenton Township, Chowan County, North Carolina, and more particularly described as follows: That certain parcel of land, with all buildings and ii ments thereon located ’"a the West side of the Old 'Hertford Road and fronting on st/*! road 42 feet and running back Westward ly therefron between parallel , lines to the Western boundary of the tract of land conveyed to 01- llie Mae Bunch and A. C. Boyce 1 and wif£ by deed recorded in the : office of the Register of Deeds in the aforesaid county in Deed i Book No. 2. page 26; and is the same land conveyed to the said William Ernest Alexander by two deeds from O. B. Bunch and wife, one of which deeds is recorded in the aforementioned office in Deed Book No. 7, page 56 and the other deed dated January 31, 1952 >s recorded in the aforemen -1 tioned office in Deed Book No. 9, page 375. refrence to all of the I aforementioned deeds and the in- 1 struments therein mentioned and the descriptions in the afore mentioned deeds from O. B. Bunch and wife are hereby adopt ed as fully as if herein set out and are made part hereof for full er description and chain of title. But this sale will be made sub ject to all outstanding and unpaid taxes, both City and County and any municipal assessments. A deposit of ten per cent of the amount 'bid up to and including 51.000.00 and five per cent of any amount above said $1,000.00 will be required of the successful bid der at the hour of the sale. This notice dated and posted this the 3rd dav of December, 1958. Southern Loan & Insurance Company. Trustee By Jessie W. Meads, Assistant Secretary Elizabeth City, N. C. decll.lß,2sjanlc EXECUTRIX NOTICE Having qualified as Executrix of the Estate of Virgil Lewis, de ceased. late of Chowan County, North Carolina, this is to notify all persons having claims against ti-.o estate of said deceased to ex hibit them to the undersigned at Edenton, North Carolina, on or before the llth day of December, 1959. or this notice will be plead ed in bar of their recovery. All persons indebted, to said estate will please make immediate pay ment. This December 11, 1958. MARY ETTA LEWIS, Executrix of Virgil Lewis Estate. decll,lß,2s,janl,Bcwhc North Carolina Chowan County. IThe undersigned, having Quali fied as administratrix of the es tate of A. C. Lane, deceased, late. of Chowan County, this is to no-i tifv all persons having claims! against said estate to present i them to the undersigned on or l before the 13th day of Novem ber, 1959, or this notice will Be pleaded in bar of their recpvery. All persons indebted to said es i tate wdl please make immediate 1 pavment to the undersigned. This the Bth day of November, 1958. MARY C. LANE, Administratrix. n0v13.20.27.dec4.11,18cMW North Carolina, 1 t Chowan Countv. 1 ► NOTICE ! Under and- by virtue of an or- j d_r of the Superior Court of Cho- l . wan County, made in the Super- ' > ior Court of Chowan County, ’ ; made in the special proceedings I 1 entitled Elsie G. Jones, Aanuiu- 1 L stratrix. Petitioner, versus Elsie | G. Jones and Elsie Virginia Jones, : r Defendants, the undersigned com missioner will on the 20th day of December. 1958, at 10:00 A. M„ i on the premises of the various » tracts hereinafter described, be | ginning with the property desig nated as Tract “A , offer tor sale ' cels of land in CnoWan North Carolina, to-wit: TRACT “A". i Commencing at a point bn. the ' southwesterly line of. Thick Neck Road in the line of Willi* Jordib, thence with the line.pl Jordah , South 39 deg. West 838 (m to e the line of Hemy Jordan; thence with the lands of Henry Jordan North S 3 deg. Wo«i' 52|. ftff l * v ‘feg f ' | Highway on the same bearing te a point om the westerly line bf A said Highway; thence continuing * on the same bearing 225 feet, to a point in the line of William Cor prew, Which point lies in the orig inal dividing line between the V Benbury farm and the Bonner VI farm; /nonce continuing with the * line of William Corprew North 7 deg. West 510 feet to a point on the southwesterly line of Thick Neck Road; thence with the southwesterly line of sajd road North 62 deg. 30 min. West 1700 feet; thence North 46 deg. West 200 feet; thence leaving said road North 62 deg. 30 min. West 875 feet to a point in the line of C. D. Privott; thence with the line of C. D. Privott North 12 deg. 45 min. West 350 feet; thence North 83 deg. West 165 feet; thence North 9 deg. 45 min. East 330 feet; thence North 22 deg. East 462 feet to the point on the south westerly line of Thick Neck Road; thence continuing across said road approximately North 40 deg. East 50 feet to a point on the North easterly line of said road; thence continuing with the line of A. F. Proctor North 48 deg. East 450 feet; thence North 80 deg. East 500 feet; thence North 77 deg. 30 min. East 650 feet; thence North 49 deg. East 625 feet; thence South 88 deg. East 430 feet to a point oh » the westerly line of Highway No. 37; thence crossing said Highway on a bearing of approximately J South 86 deg. East 100 feet to a mi point on the easterly line of said highway; thence continuing with J the lines of A. F. Proctor, Levi “ Creecy et al, South 83 deg. East 550 feet; thence South 75 deg. 30 min. East 440 feet; thence South 70 deg. East 350 feet to another point in the division line between the Benbury and Bonner farms; thence South 89 deg. East 210 feet; thence South 83 deg. East 163 feet; thence South 85 deg. East 245 feet; thence North 76 deg. East 284 feet; thence North 81 deg. East 200 feet; thegee South 82 deg. 15 min. 285 feet; thence South 84 deg. East 245 feet; thence North 51 deg. East 330 feet; thence North 60 deg. East 400 feet; thence North 83 deg. East 265 feet; thence South 62 deg. East 445 feet; thence South 65 deg. East 200 feet; thence North 63 deg. East 235 feet; thence North 61, deg, East 260 feet; thence South 58 deg. East 205 feet; thence South 38 deg. East 485 feet; thence South 30 deg. East 600 feet; thence South 13 deg. East 525 feet to a point in the line of Jesse Alex ander et al; thence with same South 75 deg. West 1800 feet: thence South 41 deg. 30 min. West 1 3250 feet to the northeasterly line of the Thick Neck Road; thence crossing sank road 50 feet, more or less, to the point and place of beginning, containing five hun ched and twelve and 65/100 (512.65) acres, more or less. Courses herein taken from plat of said property prepared January 31, 1947. Save and except that portion of * the above described lands hereto fore conveyed by T. W. Jones et ux to J. M. Fleetwood, Jr., and Thomas W. Fleetwood, containing one hundred and twenty-eight and eight-tenths (128.6) acres, and particularly described in deed ' duly recorded in the office of tha Register of Deeds for Chowan County in Book 9 at page 461. taf which reference is hereby made, TRACT “B” (a) BEGINNING at load ditch, on land which divides Lots Nos. 5 & 6 and extending North 49 deg. 10 min. East 2385 feet to line of ditch dividing Lots Nos. 7 & 5 to woods and continuing same course to thj : Luton Tract, a distance of 1213 set in all; thence South 45 dbg. ■ 55 min. West 696 feet to a mark ed beech, thence South 70 deg. 25 ■ min. West 1931 feet to an iron stob a line and thence South 10 ; deg. East along the said line to place of beginning and containing • 48.7 acres and being numbered and designated as Lot No. 5 on I plat of Atlantic Coast Realty ■. Company as recorded in Deed Book “O” page 7, Chowan Coun ty records, to which reference is made and the same made part | hereof. Üb) Beginning at stob, on lane above referred to. forming divid ing line between Lots Nos. 4, &. 3 & 6 thence South 10 deg. East to an iron stob, thence South "9 deg. 25 min. West 1141 feet to an iron stob in middle of ditch, which divides the Creecy ahd Shannon ; house lands; thence North 6 deg. 115 min. East to a branch. Creecy I line, thence with the run of the . branch, its various courses, to tract No. 3—an iron stob, thence northeastwardly with line divid the place of beginning, containing ing lots Nos. 3 & 6 to aix iron stob, 15.41 acres, and being the north east portion of lot designated and numbered 6 on plat mentioned and made part hereof. Tract No. 6 originally contained 28 acres, but 12.59 acres were reserved. TRACT "C" . That certain property with jjU buildings and improvements point of thg GopdwmOTeSkfn land, thence eastwardl# a&ng the center of the ditdH to JLM «d Edentorx H6rtforcL. ii * £IIW «y» & nC U?TKrd Highwliy to U. S. Highway No 17? fcence southwardly along L. S. Highway No 17 » *e place ol banning; being a triangular shaped parcel of lari# «Wtainirfg one, <ll acre, more k df leSs, and knpwn as the J*oforpourtlf<Ti*rty. Sold it paA , piarle Motor Comptoy jgpgpyiy Jfarth 19 [thin. West 78 feat to tb»»fct of
The Chowan Herald (Edenton, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Dec. 18, 1958, edition 1
16
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