fixed-Dollar Savings And Assets
Remain The People’s Choice As
x The Foundation Os Their Security
With all the talk about me
new look in ownership of equi
ties which has developed in re
cent years, the American peo
ple are continuing to rely on
fixed-dollar types of savings and
investments as the foundation
of individual and family
cial planning for the future.
This stands out clearly from:
the facts and figures on the con
tinued growth and widespread,
distribution of ownership of the
traditional forms of personal,
thrift and protection—life insur-'
ance, pension and retirement
funds, savings accounts, and the
various other forms of fixed ]
dollar savings and investments.!
This is' significant in view of 1
impressions that may have been
given by tne growth in stock
ownership m recent years and
the recurrent waves of specula
tion in securities markets.
: r What the Facts Show
The extent of the public’s re
liance on fixed-dollar assets is
evident both in data on the an
nual flow of personal income in
to thrif't and investment medi
ums and in the statistics on the
composition of the people’s ac-|
cumulated financial resources. It'
is likewise manifest in the fig-i
ures on life insurance protection
and its persistent growth over
the years. Last year saw a new
birth of more than $74 billions in
new life insurance purchases,
and the people’s total protection
in force in U. S. legal reserve
companies now exceeds S6OO bil
lions.
Figures from Government and
private sources show that fixed
dollar saving by individuals has
added up to S2O billions or more
a" year since the mid-Fifties.
This was in reserves of life in
surance companies, assets of pri
vate pension -and retirement 1
funds, savings accounts including |
savings and loan associations and
credit unions, and Government
securities comprising U. S. Sav
ings Bonds and Federal, State
and local issues. The annual
total here set a record of more
iiban S3O billions in 1959, swelled
by the public’s rush to buy the
high-yielding U. S. Treasury
notes offered in that year. The
comparable figure in 1950 was
only about $7 billions.
Types of Assets Compared
As against this, Ihe figures
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Nov. 30, 1961 “ .
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send to: M a °l a Ice Cream Co. of North Carolina
show that the net annual flow
of funds of individuals into
stocks of corporations and in
vestment fund shares averaged
little more than a billion dol
lars a year over the past dec
ade. The peak figure in the pe
riod was less than $2 billions
in 1951, and last year there was
actually a small net decline, ac
cording to estimates of the Se
curities and Exchange Commis
sion.
As to the aggregates of indi
vidual financial resources and
their composition, the figures’
show that the public at the end
of last year had accumulated a
total of more than $440 billions
in the fixed-dollar asset classifi
cations of life insurance reserves,
private pension fund assets, vari
ous types of savings accounts,
Government securities, and cor
porate bonds and notes. The
comparable figure for combined
individual holdings of corporate
common and preferred stocks
and investment company shares
was $367 billions on that date,
the SEC estimates. Beyond the
difference of some S7O billions
in favor of the fixed-dollar as
set classification, there is the
added basic distinction between
the two in the fact that the fig
ure for stock holdings is a mar
ket valuation and therefore sub
ject to the ebb and flow of
speculative tides.
Data made public recently tj
the New York Stock Exchange
snow mat the number or siock
holders in publicly-traded cor
porations and in investment
funds added up to ari estimated
12 1 /-; million in 1959. This num
ber was half again as great as
in the previous survey in the
mid-Fifties, but it still repre
sented a minor fraction of the'
population.
Ownership in Depth
By contrast the number of ilfe [ :
insurance policyholders in legal j
reserve companies is currently I
113 million, or practically two j
out of everv three persons in the
population. There are more than I
80 million savings accounts, and
an estimated 20 million work- j
erjj are covered under insured;
and noninsured pension and", re-!
tirement programs. These and
other savings ownership' figures 1
provide further evidence of the
extent that the predominant ma- :
THE CHOWAN HERALD. EDENTON. NORTH CAROLINA. THURSDAY, NOVEMBER 2, 1961. '
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AH, WONDERFUL SPRING—Smoky, a pet raccoon, sam
ples a jonquil’s fragrance in sunny Atlanta, Ga.
jority of Americans is relying
on fixed-dollar savings and in
vestments to help meet the eco
nomic impact of death, disability
and retirement.
Beyond 'their fundamental role
in the everyday lives of the
people is the essential economic
function of fixed-dollar savings
in our society. For it is such
savings, channeled into the cap
ital markets by the life insur-1
ance companies and other thrift
institutions, that are the source
of a large part of the credit and
investment funds that America
needs to grow and to meet the
Challenge of the times. Inform
ed and intelligent risk-taking has
always played an important role
in our 1 economy, but it is no sub
stitute for savings needed for
both public and private invest
ments to promote the advance
ment of our human as well as
our material resources.
RED MEN MEETING
Chowan Tribe No. 12, Im
proved Order of Red Men, will'
meet Monday night, November
6, at 7:30 o’clock. W. M.
Rhoades, sachem, urges a large
attendance.
OUTDOOR TIPS
from the Ancient Age Sportsman's Idea Exchange |
Hunting
Deer are sensitive critters.
Strange noises and strange
sounds will send them hightail
ing into the woods while the
hapless hunter stands- by won
dering how anything that was
standing still a second ago could
disappear so fast. But strange
smells other than human scent
Geo. Davidson Dies
At Cannon’s Ferry
j George Walter Davidson, 65,
1 died Wednesday night at 6:30
! o’clock at his home at Cannon’s
: Ferry after an illness of a year.
: A native of Chowan County, he
was a retired fisherman and
. mill operator.
. | Surviving are his wife, Mrs.
; Elizabeth H. Davidson; two sons,
: George Davidson, Jr., of Engel
-1 hard and Elmer H. Davidson of
1 State College, Pa.; three daugh
: ters, Mrs. R. A. Winston, Jr.,
and Mrs. J. T. Weston of Nor
: folk and Miss Marjorie Davidson
• at home; a brother, J. E. David
. son of Tyner; two sisters, Mrs.
• B. B. Basnight of Norfolk and
Miss Pascoe Davidson of Tyner
: and Holly Ridge and two grand
: children. •
He was a veteran of World
War I and member of Ballard’s
Bridge Baptist Church, where a
• funeral service will be held Fri
-I’day afternoon at 2:30 o’clock,
■j The pastor, the Rev. Carl Hart,
.| will officiate and burial will be:
: in the family cemetery at Ty
ner.
| may just turn the tables and;
• send the deer in your direction
! instead of away from you. Next,
I time you’re afield try rubbing
f, oil of caraway or anise or a
•j similar oil on your boots and
5 1 on a cloth pinned to your cap.
1 The oil will dispel your human
• scent and just may arouse
• enough, curiosity in Mr. White
tail to send him your way for
the perfect shot.
If crows aren’t protected in
your neck of the fields you’ve
probably found out by now
what wise old black birds they
are. It takes a heap of trick
ery to fool ’em and a mighty
fast shot to down ’em. The|
best way to keep' crows with-1
in shotgun range is to decoy
’em in. You can make dandy
crow decoys from an old wire
coat hanger bent in the shape of
a crow and covered with black
cloth. A few toots on your
crow call and a few of these
decoys in the field will give
you a chance to find out if a
hunter really can outsmart these
wily black birds.
Fishing
Some fellas sing in the show
er, but fishermen think about
new ways of enjoying their
favorite sport—and for some it’s
the only sport. Well, one way
of keeping lures straightened out
in the tackle box so you can
get at them fast when you need
them is to string your lures on
shower curtain rings. Different
ringS can be used to keep dif
ferent size lures and that way|
everything will be in apple pie
order in your tackle box—for a
while anyway.
Minnows are slippery devils
and sometimes are hard to find
as well as hard to hold and
hook. If you paint the inside
of your minnow bucket a glis
tening white, you’ll have less
trouble locating your minnows
and more time to spend on get
ting ’em on your hook fast so
they can work for you.
Every fisherman knows that
his car needs antifreeze when
cold weather sets in or he’s
headed for trouble. But how
many fishermen have thought
of giving their fishing lines the
same treatment? If you go ice
fishing and have had your fish
ing line freeze, you might try
soaking it in antifreeze before
your next trip. You’ll be sur
| prised to learn that the line
won’t freeze and one soaking
lasts for quite a while. Now
, all you need is a warm pair
of earmuffs.
’ (Try for a SSO prize. Send your
j A.A. tip to A.A. Contest, Sports
l Afield, 959 Bth Avenue, New
York 19, N. Y.) • ,
. * \C . .* " . •
VOTE FOR A BETTER
NORTH CAROLINA
STATE BOND ELECTION
TUESDAY, NOVEMBER 7, 1961
W ft . . P Construction of needed I wildings for
rwi State purposes in the capilol area.
Tn if. p Weeded improvements at the Stale's
VOie rO correctional seliooJs.
0 *
tti if * P Improvements at the Stale's cduca
xj voie ror donai institutions.
TT| U._ P Community college improvements
¥Ol6 (J. College of the Albemarle, ele.)
TTI 1# x- C nr Construction of a huildinii to house the
Department of Archives and History
and the State Library (s. v. vain aide
Colonial papers recent!\ sent from
Chowan to Raleigh would he preserved
here).
i/ A f A C Ar Construction, accpiisitiou and im
— provement of Stale Ports facilities
(twice as much revenue and consider
ably more profit for Ninth Carolina).
T7] l/ A f A [ Ar Construction of much needed im
—J provements at the Stale's mental insti
tutions (will extend and improve the
• 'i
facilities for training the children w ho
are trainable, ecliicaling l!ios<‘ who are
(‘durable, and giving adequate custo
dial care to those who are neither train
able nor eduealde).
TT| W ft . p Funds for participation h\ the Stale
. ¥Ol6 TO through the Medical Care Commission
in local hospital construction (this will
help small counties unable to match
Federal funds).
0W a P Improvements!!! the conservation and
vuic rui development G s natural resources of
the State.
# A * A P Improvements at the Stale's agricul
—l w tural research stations.
BE SURE TO VOTE NOVEMBER 7th
PAGE FIVE
I—BECTIOH ORB