Newspapers / The Chowan Herald (Edenton, … / Sept. 24, 1959, edition 1 / Page 13
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The National Outlook jl| Prospects For Security Prices i By Ralph Robey Millions of our citizens own stock in American corporations .mirectly and many other millions own stock indirectly through pension funds, insurance policies, savings bank deposits, and so forth. To ail of these persons whether the price of securities go up or down is a matter of major importance, although the indirect holders may not be too aware of this. The behavior of the market also has a signifi cant -psychological effect upon business sentiment, and the mar ket still is believed in many quarters to have substantial validity as a forecaster of the economic trend. There are many ways to meas ure the market. The index Which is most commonly used by those in the security busi- H ness is that of Dow Jones. This is not the best of the averages, but Dow Jones is the only com- j i -Schenleq KK GOLDENJpr AGE i : f uu. 94 p * oof ( sr\ k If golden j V— i:^age.2& pint UcfeGlNtSfcM *0 70 1 hcnlc l } proof K SCHENLET DISTILLERS CO. DISTILLED OIY CIN. FIOM 100% GULIN NEUTRAL SPIRITS. \ See the Patented SIEGLiR now ct, Quinn Furniture Oompany EDENTON, N. C. LeF us show you how ytitfian '** -f- - fmm Sjj? ■ HmHh ; Ntw! SYNCHRONIZE AIR-OIL CONTROt GIVIS > t SIPEB HNIIEIT at the turn of a dial! \ Imagine! Turning just ona dial on the new Siegler Home Heater feeds the j£-; r * |B|l| exact amount of oil into the B| .. - burner, fans the fire with the j:-•A-V.ljgj exact amount of air; then synchronizes the blower lil§ immSmSmi; ll 1 speed to give you perfect 1 SUPER Floor Heat! The V'V - £ new Sieglermatic Control /) j*. System means even greater | fuel savings by assuring the j , Economical fire always. ■ pany which reports the individ ual .transactions on the market, and its average is calculated on an hourly basis. 'Further every important stock brokerage house has a Dow Jones ticker. Averages Based On Stock Behavior Actually there ‘ are three Dow Jones averages.- .That for’ indus trial, stocks is based upon the behavior of thirty important se curities; that for railroads is based upon twenty stocks; and, that for utilities is based upon fifteen stocks. Which of these three averages is of most in terest to an individual depends,' of course, upon the type of se curities he holds, but the indus trial avevrage is most frequently quoted. The high of the Dow Jones in dustrial average the all-time high—was last August 3. On i that day it reached 684. To ap- THE CHOWAN HERALD. EDENTON, NORTH CAROLINA, THURSDAY, SEPTEMBER 84. 1859. preciate what this means one | needs to recall that as . late as | last November 25 the average; was 541. Since the high of last I August -the market has been ex- j tremely nervous and has drop ped, as this is written, by some fifty points. The big issue is what is going to happen from here on. Is the major bull mar ket over, or is this a mere tech nical correction? As a foundation for attempting to answer such questions certain basic facts need to be made clear. At 684 the market was at an extraordinary level, not only in dollars or in relation to past levels, buit as related to earn ings and prospective earnings. Even the yield on high grade stocks has dropped well below what can be Obtained from the' best bonds, including those of; the United States Government.! This was true in the late 1920’5, | but has not been the case since i then until recently. One factor contributing to stocks outpacing bonds in re gard to yield has been a general fear of inflation. It is widely believed that stocks offer better protection against rising com modity prices than any fixed interest obligation, because stocks can rise whereas bonds I and mortgages have a par value and have relatively little basis for capital appreciation. Finally one needs to remem-] ber that the sharp shake-out in recent weeks has been touched off by a growing tightness of money, Which means rising inter est rates. First the prime rate —the interest charged by banks to their big and best borrowers —was raised from 4% to 5 per cent, and all other rates were automatically increased. Then came, first -the fear, and ’then the actuality of a rise in the re discount rate to 4 per cent —the highest that rate has been since the early thirties. And it is gen erally believed that interest rates will continue to advance. "This raises the fear that the up swing in the economy may be halted, and at the ileast that it must be slowed down. Future Possibilities Against this background it ob viously is impossible to make firm predictions on the trend of stock prices. But certain im pressions are feasible. First, the market may well go to still lower levels, although a general collapse, or really sig nificant break, is not at all like ly- Secondly, the business curve will continue upward for many months and this will add strength to ttye market. Thirdly, there is no sound ba sis for concluding that the bull market has come to an end. We have been witnessing a fairly typical behavior and perhaps this will be continued for some time. Finally, the market probably 1 will recover, not only to its old ■ high of 684, but to a -level sub- i All Healing Oils Are Not Alike 'New'SlnclaiFHeatirig Oil is'. Premium Quality,at Regular PriceS Home-ownerTteU us that Sinclair Heating Oil) j ,gives more comfort, more heat per dollar. That’s, because it’s Premium Quality at regular price* [lt cont»fa« &n exclusive ingredient that helps; (keep your burner in top operating condition^ (Our service is dependable, can be 6UW> - we’ll deliver as promised^ c ll Edenton Oil Co. W. J. YATES, MARKETEER Phone 3215 N. Broad Street ! . ; • .v;.; WRESTLE IN EDENTON TUESDAY, SEPTEMER 29 \ MHMHMH p MaMßaHaaaaaßaiai CHIEF LITTLE EAGLE The above ihree nationally known WTestlers are scheduled to be the headliners on a wrestling card to be presented in the Edenton armory Tuesday night. .September 29, beginning at 8 o'clock. The match is sponsored by the Edenton- Band Parents Association, and tickets are now on sale for whal is expected to be an evening of thrilling entertainment. The proceeds will be applied lo the band's indebtedness, and it is hoped a capacity crowd will turn out. stantially above that figure, j Among the careful students of the market a level of 725 is re ; garded as possible, but that will I probably have to occur after the first of the ybar. Home Ec Teachers Meet In Edenton An informative program con cerning proper and new proced ures for making vocational home economics teachers’ monthly re ports was presented by Mrs. Eleanor Tetterton and Miss Car olyn Brinkley at the meeting of the Albemarle home economies teachers’ organization Thursday, September 10, in the home eco nomics laboratory of the John A. Holmes High School. Evelyn Willey called the meeting to or der, after which old and new business was discussed. Then the program was turned over to the program chairman, Frances Newby, Who presented the pro gram leaders for the day. Mrs. Lorraine Rogerson and Mrs. Edna Reaves were hostess es for the day. Teachers attending were: Car olyn Brinkley of Plymouth High School with her student teach ers, Carolyn Oliphant and Betty Hennessey of East Carolina Col lege; Mary Ann Combs of Co j lumbia High School; Eleanor K. j Tetterton of Creswell High School; Eleanor Cuthrell of Sun bury High School; Edna Reaves of Edenton High School; Ernes tine Nichols of Elizabeth City High School; Frances Warren of Camden High School; Marguerite ] Foster of Weeksville High 1 School; Margaret Bray of Mo •yock High School; Ramona Wil i son of Griggs High School; Bel | | * £:■ IV « , ijgiy PRETTY BOY COLLINS jen Larabee of Central High School; Frances Newby of Per-1 quimans High School; Evelyn | Willey of Gatesville High School, and Lorraine Rogerson of Cho wan High School. Minutes Os Board T Os Public Works s -> Edenton, N. C., Aug. 24, 1959. The Board of Public Works met this day in special session at 9:30 A. M., for the purpose of! considering request of the Eden-; ton Development Corporation | and The Seabrook Water Blanch ing Company for water supply to the Edenton Development Corporation. Property located on U. S. Route 17 North. Merrmers present: Thomas C. Byrum, Jr., Chairman, Jesse L. Harrell, Ralph E. Parrish. W. M. Wilkins, James P. Ricks, Jr Mr. Jesse Harrell reported to the Board that Mr. Zimmerman, Engineer, representing Seabrook Water Blanching Co., requested water supply of 50 gals, per minute @ 60 lb. pressure. Mr. Why we built two cars for 1960 ... as different as night and day On October 2—for the first time in Chevrolet’s I+9-year history—you will be able to walk into your dealer’s showroom and see two totally different kinds of cars. ■ One is the conventional 1960 Chevrolet, brand new in appearance and more beautifully refined and luxurious than you can imagine. ■ The other is unlike any car we or anybody else ever built—the revolutionary Corvair, with the engine in the rear where it belongs in a compact car. ■ We’d like to tell you why we built two such different cars how we built them—and for whom we built them. Why two kinds of cars? Because America itself has been going through some big changes, in the past few years. Our cities have been straining at their seams. Traffic is jam-packed. Parking space is at a premium. And our suburbs have spread like wildfire. People are living farther from their work, driving more miles on crowded streets. There is new leisure time—but more things to do. There’s a new standard of living—and more need for two cars in the family garage. In short, America’s automobile needs have become so complex that no one kind of car can satisfy them completely. That is why we at Chev rolet, keeping tab on these trends, have had a revolutionary compact car in the planning stages for more than nine years. Thus, when we decided three years ago to prepare for production of such a car we were ready to build it the way it should be built. There was no need for a hasty “crash” program that would create only a sawed-off version of a conventional car. That is why the two cars you will see in your dealer's showroom October 2 will be two entirely different kinds of cars. One is the conventional ’6O Chevrolet—brand new in beauty, with new space inside, new spirit under the hood, a new George Chevrolet Company, Inc. PHONE 2138 1100 N. Broad Street Mfg. No. 110 Edenton, N. CL Dealer*! FmieMae No. W •’ j CW ■ r m ®k sdflfr ' WJm v 'y . - . f ' 'I faBBpEIIM wMWm. ■fig- i sip -mi f; i t * mi i. ■i ll Wm I JAN MADRID R. N. Hines, Superintendent, re | ported that after test of the j present line at the location 35 ! gals, per minute was the maxi mum delivery and that the pres sure dropped to 5 lb. per sq. inch, consequently would not serve the requirements. After further discussion by the 1 Board, a motion by Mr. Jesse Harrelll, seconded by Mr. W. M. Wilkins, and carried. Chairman Byrulm was instructed and re quested to authorize W. F. Free man, Consulting Engineers to draw up plans and specifications and take bids and supervise in j stallation of suitable facilities to j furnish water supply for the in dustrial site and general area; the line to begin approximately at the intersection of Oakum and Blades Sts., down Blades Street to intersection of Blades and Coke Ave.: down Coke Ave., to intersection of Coke Ave., and U. S. Route 17; down U. S Route 17 to Edenton City lim’ts. There being no further busi ness the meeting adjourned. RALPH E. PARRISH, Secretary. Edenton, N. C., Sept. 1, 1959. The Board of Public Works See all the new Chevrolets October 2 at your local authorized Chevrolet dealer’s met this day in regular session at 8:00 P. M., at the Frehmason Street office. Members present: Thomas C. Byrum, Chairman, Jesse L. Harrell, Ralph E. Par ris W. M. Wilkins and James P. Ricks. Jr. The minutes of the regular meeting of August 4th and spe cial meeting of August 24th were approved as read. On motion by Mr. Jesse Har rell, seconded by Mr. J. P. Ricks, Jr., and carried, E&W Dept, bills in the amount of $15,904.06 be paid as follows: Graybar Electric Co., Inc.,! $650.98; Line Material Industries,! $43.30; Electric Equipment Co., i $375.55; Postmaster, $97.97; The. National Cash Resister Co., $57.00; The Chowan Herald, $587.00; Williamston Office Sup- ■ ply Co., $17.76; Edenton Insur ance Agency. $80.00; Edenton Construction Co., $5.46; Twiddy. Insurance & Real Estate Co., $657.62; Nationwide Mutual Ins. Co., $1,257.88; W. J. Berryman Insurance Co.. $5.00; Economy Typewriter Co., $25.65; Norfolk & Carolina Tel. & Tel. Co., $4085; Railway Express Agency, $6.37; Thurston Motor Lines, Inc., $3.00; Byrum Hardware Co., Inc., $19.95; Sinclair Refining Co., $102.64; Howerton Gowen Co., Inc., $36.92; Carolina - Norfolk Truck Line, Inc., $20.42; Hughes- Parker Hardware Co., $4.68; Bunch’s Auto Parts. $2.44; W. D. Holmes Wholesale Grocery. Inc., $15.75; American Water Works Association, $2.00; Edenton Ice Co., Inc., $14.16; G. A. Keeter, $500; Jackson Radio & TV Ser vice, $13.95; Hagan Chemical Companv, $243.75; E. F. Craven Co. $30.40; Noland Co., Inc., $110.00; Sangamo Electric Co., ; $50.80; Bunch’s Garage. $17.07; Baker Equipment Co.. $7.74; Vir -1 ginia Electric & Power Co., sll,- 296.00; total, $15,904.06. Salaries paid in month of ; August, 1959. $3,669.32. Received from current, water and merchandise. $22,948.59. Receipts in excess of disburse ments. $3,375.21. After some discussion with reference to locating the propos ed water lines and electric lines to cross the Blades property down Coke Ave., to U. S. Route 17 North, thence to the Edenton Development property. Motioned by Ralph E. Parrish, seconded by Mr. J. P. Ricks, Jr., and car ried, that the Town Council be requested to give serious consid eration to securing street rights of-way which would extend Blades Avenue to Coke Avenue, and Coke Avenue sooth across Blades and other n-ono-tv soot 1 ' to interseri’O'i “ «•, ’’-opmj -n Street. This w—-i ’ -r-'x'ide pj north-south between U. S. 17 North o n d n. c. 32 1 feeling of sumptuousness and luxury never before attained by any car in its field. There is great V 8 power linked with new thrift, plus Chevrolet’s superb 6-cylinder engine. It is a traditional car that comes even closer to perfection—in silence, in room, in ease of control, in velvety ride—than any other car we have ever made. The other is the Corvair, a compact car that is astonishingly different from anything ever built in this country. It has to be—because this is a six passenger compact car, with a really remarkable performance ... a car designed specifically to American standards of comfort, to American traffic needs. The engine is in the rear. Among the basic advantages resulting from this engine location are better traction on a compact 108-inch wheelbase and a practically flat floor. But to be placed in the rear, the engine had to be ultra light and ultra short. So Corvair’s engine is totally new— mostly aluminum and air cooled; it weighs about 40 per cent less than conventional engines. It is a “flat” horizontally opposed six—so it is only three cylinders long . . . and that leaves a lot more room for passengers. Another weight saving: like modem airplanes, the Corvair has no frame; the body-shell supplies it great struc- PAGE THREE south. On motion by Mr. Jesse Har- ' rell, seconded by Mr. J. P. Ricks, Jr., and carried, Mr. Ralph Par rish was requested to continue negotiations with the Albemarle Electric Membership Corpora tion. There being no further busi ness the Board adjourned. RALPH E. PARRISH, Secretary wmmmmmmmm Taylor Theatre EDENTON. N. C. 1 Thursday and Friday. 1 September 24-25 DOUBLE FEATURE Vincent Price in "HOUSE ON HAUNTED HILL" —aIso— "MACABRE" Saturday. September 26 DOUBLE FEATURE Randolph Scott in "WESTBOUND" Warner Color —also— John Lupton in "REBEL SET" Sunday and Monday, September 27-28 Walt Disney's "DARBY O'GILL AND THE LITTLE PEOPLE" Technicolor o Tuesday and Wednesday, September 29-30 ONE OF THE YEAR'S MOST HONEST, AFFECTING AND ! FINEST DRAMAS "ROOM AT THE TOP" | Strictly Adult Entertainment! Recommended For Adults Only! ffIWAYI? Drive-In Theatre Edenlon-Herlford Road SATURDAY AND SUNDAY Friday and Saturday, September 25-26 DOUBLE FEATURE Michael Landon in "THE LEGEND OF TOM DOOLEY" —and— Randolph Scott in "THE TALL T" j Technicolor tural strength . . . it’s a welded unit that is virtually rattle-free. The ride is fantastic. But to get it we had to design independent sus pension at every wheel; conventional springing would give a compact car a choppy ride. Right now we’ll make one prediction: no other U.S. compact car will ride so comfortably, hold the road so firmly and handle so beautifully. Now there are two kinds of cars from Chevrolet—because it takes two kinds of cars to serve America’s needs today. If you love luxury—the utmost in luxury—and if you want generous interior space, breath-taking perform ance, automatic drives and power assists—then the conventional ’6O Chevrolet may be your choice. If easy parking, traffic agility and utmost economy are high on your list —then you should seriously consider the Corvair. But the best thing to do is to look these two new cars over at your Chevrolet dealer’s ... take them out for a drive. It may be that the only logical choice for your family between two cars like this is—both. They make a perfect pair. :—SECTION TWO
The Chowan Herald (Edenton, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Sept. 24, 1959, edition 1
13
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