Newspapers / The Chowan Herald (Edenton, … / June 7, 1962, edition 1 / Page 7
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f■ — , 1 ■ Pathprinp Arnpn uwnauß mm Honored At Tea Mrs ? M. T. Barrington .Now President of bounty Council i A tejj honoring Miss Cather ine Arrian, assistant home eco nomics ’ agent, was given by Home Demonstration Club mem bers Tuesday afternoon of last wepk at Wards Community Building. Miss Apian began work June 1 as home economics agent in Brunswick County. The Chowan Home Demon stration County Council met pre ceding the tea. New County Council officers to assume of fice in January, 1963, were elected as follows: President, Mrs. M. T. Barrington, Route 2, Edpnton; vice president, Mrs. O. C. Long, Jr., Route 1, Edentcn; secretary, Mrs Wallace Goodwin, -Jr., Route 3, Edenton, and treas urer, Mrs. Earl Smith, Route 1, Edenton. A report on the 25th Federat ed District meeting held in Hobbsville was given by Miss Harriet Leary and Mrs. R. E. The treasurer’s report | was. given by Mrs. O.' C. Long, j Jr., County Council secretary and treasurer. Mrs. B. P. Monds, County Copncil president, presided with approximately 60 club members present. Summer Schedule At Episcopal Church Beginning Sunday, June 10, Whitsunday, services at St. Paul’s Episcopal Church will be as follows until September: Sundays 8:00 A. M., Holy Communian 9:00 A. M-, Church School 10:00 A. M-, Mqrning Worship Wednesdays 10:30 A. M-, Holy Communion The rector’s hours continue to be from 9:00 A. M-, to noon Monday through Friday, in the Parish House. TAX COLLECTIONS Sheriff Earl Goodwin’ reports that collection of 1961 taxes dur ip- May amounted to $13,481.48. The 1961 tax levy is $293,698.76, so cojleated. During tne montn Sheriff also collected $577.20 in way of delinquent taxes. This represented small amounts for the years 1951-1960. The total uncollected taxes for this period amounts to $54,169.08. The i County Commissioners appointed Sheriff Goodwin to accept i pre-payment of 1962 taxes. ’ Every man is useful to his kind by the very fact of his ex istence. —Thomas Carlyle. Let Sears Be Your Fencing Headquarters • ❖ Price Cut 10% i Chain Link Outfit Was 65c Per Ft. 36" 11 GA. Now 58c ft. fleres Your Chance To Save Qn Chain Link Outfit Will) Top Rail at Sears. - 24-in. Cut CRAFTSMAN lawn Mower WITH RATCHET-TYPE MO-PULL STARTER Fine Mower At '■ Sears Savings *159.95 ®n*l« control on handle, en gine - cover, height-of-cut at yrhahis instead of* at blade, cushtened seat, tow bar with hitch, grass-leaf catch er. tewn sweep, cart, spreader and roller accessories. - CALL 2186 COME IN TODAY AND TELL THEM “JOHN 'SENT YOUI" T 7 *• T " Sears Catalog v- i t / v ]7 im JBa m ' * * - . , v M \ v Mb 1 VS« ■ ■ I |( m Ife Ke Mm Hj m fjjir'v K I | • B fBI 1 » - WgRL •|P-«r,: ■yfSSa |®§jl- ~ „ -<* IRH| r •■■''j ’* '- ** "7 “HOW OLD ARE YOU?” —Olaf Oettinger, whose name is about as long as he is, pets “Duke of Palatinate,” a great Dane, in Saarbruecken, West Germany. Duke and Olaf are the same age. Each is 18 months old, and growing. Income Distribution Shift Has Big Influence Dn People And Economy; Also Creates New Savings Pattern One of the outstanding charac teristics of the great rise in per sonal income in the United States over the past generation has been a distinct improvement in its distribution based on the shares of broad groups of the population. Involving a shift of billions of dollars of purchasing power widely distributed among the population instead of being con centrated around the top of the income ladder as in the past, the results have had a far-reaching impact on the people’s spending and saving capacity, on living standards, and in fact on our whole process of capital forma tion and economic progress. The Shift And Its Meaning The figures show that in gen eral the percentage shares of the lower and intermediate income groups have risen while those of the upper income groups have declined. The most significant change in this respect has oc curred in the top 5 per cent of the income scale, its share of pretax family income represent ing less than a fifth of the total by the close of the Fifties as against a proportion of practical ly a quarter in 1941 and around three-tenths in 1929. The rela tive decline is even more marked after taxes than before, reflect ing the steeply graduated nature of the Federal income tax struc ture. What this snift means in es sence is that at present levels of MR. FARMER! 1 > SEE US TODAY FOR YOUR FERTILIZERS SPRAYING NEEDS ’ WE HAVE A COMPLETE STOCK OF ’ FARMALL FERTILIZER ATTACHMENTS m mm hhm mmammi mb^^mmms ’ JOHN BLUE FERTILIZER ATTACHMENT JOHN BLUE DUSTERS I BROYHILL CHEMICAL SPRAYERS » i j 'jl' . ,» .. ' See Us Now For All Your Needs * • t » ) L a 6 j Bynim Implement & Truck Co. r ‘ ' ' “Your International Harvests Dealer” * Dealer's Franchise Ho. 1560 L r Phone 2151 Edenton, N. C. ' * THE CHOWAH HERALD, EDENTON. NORTH CAROLINA. THURSDAY. JUNE 7.1962. - »•' * ’• - TL *F" ' «» aggregate family income, the top 5 per cent would currently have had about $37 billions more in come annually, and the great bulk of consumer units that much less in the aggregate, if the proportionate shares prevail ing in the late Twenties had continued unchanged. A sum this size is greater than the na tion’s entire yearly clothing bill, indicative of its magnitude and impact. The trend of individual and family income and its changing distribution are shown in an JACQUIWS VODKA y pint i lMgl Blstllled from select grain/80 PROOF j] ChaF. Jacquin et Cie., Inc., Phila., Pa. analysis of long-term data made by Professor Simon Kuznets of Harvard University, one of America’s outstanding authorities pn income and wealth. It was presented in one of the major papers delivered at the recent Arden Nouse conference spon sored jointly by the Institute of Life„ Insurance and the Colum bia University Graduate School of Business, and attended by leading social scientists and life insurance executives. Impact On Savings One of the outstanding results of the change in income distri bution combined with the broad rise of earnings and other sourc es of personal income has been a fundamental change in the structure and character of sav ings over the years. The Kuz nets study states that in the past savings were predominant ly a byproduct of affluence, es timating that close to $4 out of every $5 of personal savings in the Twenties came from the top 5 per cent of consumer units. Since then it is estimated that the savings share of the top in come group has fallen to half the annual savings total with the rest now coming from the other income groups as their ability to save expanded. While this change has made for some decline in the overall savings-income ratio, it has at the same time made possible a far wided distribution of sav ings and personal protection than has ever existed before. It is reflected, for example, in the fact that there are currently 118 million life insurance policy holders, the equivalent of two 1 out of every three persons in the entire population, and that the total of life insurance pro tection in force is now up to an estimated $635 billions. Time depositors in savings and com mercial banks numbered 84 mil lion in 1960. and members or in vestors in savings and loan asso ciations came to over 29 mil- I lions. There are also an esti mated 21 million’active work ers covered by ■ private pension and retirement funds, insured and noninsured combined. •These are just examples of the great growth of savings owner ship throughout the population over the years and provide the background for the emergence of the people’s thrift institutions as one of the principal sources of capital and investment funds for business and industry, home owners and Government. Growth of Re-tired Groups Another significant develop ment in the income structure is that the lowest group of con sumer upits is becoming more and more dominated by the eld erly .and the retired, with a life long fixed income from a thrift program such as a life insurance policy benefit, a pension, or a retirement benefit under a pub lic or private program. Thus whilp income here may be low by today’s standards, the needs and responsibilities of the aver age individual or family in this group are also markedly less than those of their younger counterparts; and many have other resources as well, includ ing savings and a home free and-clear. The Kuznets study reports that the narrowing in income inequal ity occurred largely by the early Fifties, since when little change has taken place. The figures are for all personal income, in money or in kind, except small amounts received by institutional residents or retained by non profit institutions, private trusts, etc. However, some items such as stock options or capital gains are excluded or incompletely measured, but it is doubted that this materially affects the re sults. JOINT DINNER MEETING William H. Coffield Post No. 9280 and the VFW Auxiliary will hold a joint dinner meet ing Tuesday night, June 12, at 7:30 o’clock. All members of both organizations are urged to be present. A room hung with pictures is a room hung with thoughts. —Sir Joshua Reynolds. “BEST BUY” during Frigidaire Week FRIGIDAIRE 2-Speed, 2-Cycle Washer at a budget price! A yi .I *■ Custom DeLuxe Model WCDA-62 e 2 speeds, 2 cycles! Tailors washing to every fabric! e Patented 3-Ring Agitator bathes deep dirt out with out beating! • Automatically dispenses laundry aids! $199.95 ONLY WITH TRADE , ’ easy terms FRIGIDAIRE rROPUCT or ocnkral Morcna For Fast Service, Call HARRELL GAS & COAL COMPANY • Pyrojax Gas Distributors Next To Chowan Herald PHONE 3310 EDENTON YOUR “PYROFAX” GAS DISTRIBUTOR es If «/» PEEPER Baboon seems to snicker as he peeps out of a window-like partition of his pen at the Chessington Zoo in Chessington- England. CARD OF THANKS We sincerely .manic everyone for the nice thoughts and deeds during the illness and death of our father. p —W. A. Perry Family cool mttms I I /' ~ L ' •••••“* 1 t writ i I I iZi" %* *V, , \ I "T For a summer treat, choose * f j 1 ° Ur las h> on honeys *' 1 T l * n COt, ° n ° r cotl<m enf k / J | I Y •■ • yours to wear with fcjjlvW j T •* a “'y- Coll 'fo r t and p | !! '~l - ■—• | | Enchanting cotton print dress / $$ S adapts readily to day, even- j } 1 \ U ing; impressed pleated skirt, i .jljjji I . \ solid-color belt, rose trimmed. J ( j Easy scooped-neek sleeveless j j / ( I sheath, to wear with or with- f tS 1 j out the self sash; styled for t I |pr 5 l I stunning simplicity in cotton I ' I ¥ v r- 1 ~ ~—— ENGRAVED OR PRINTED jiff^ all typer, of iorial printing is at your Rf - ror.-mand. We will tie glad to make sug- H) |a jf gestions, show you samples and quote VI prices ... all without the slightest ob- >. , ligation on your part. j Wedding Invitations * lj and Announcements J > j In the wording, Resign and printing of \ / Jf?- the formal Announcement or Invitation, \ it is of the utmost importance that gor- *” * rect form be vbserved. Our familiarity TP with the established customs applying to quality printing will assure you satis- c? c i faction See samples at THE CHOWAN HERALD • » ?! i - - VISIT THE BELTONE MOBILE UNIT to. solve your hearing problems. FREE HEARING TESTS and HEARING AID TRIALS. FRESH BATTERIES and SUP PLIES HEARING AID SERVICE. The only regular ser vice in Northeast North Carolina. Elizabeth City—Friday, June Bth (New Colonial Store Parking Lot on Hertford Highway) Edenton —Saturday, June 9th (Sunoco Station, Corner Broad and Gale Streets) "" TIME . 10 A. M„ TO 2 P. M. YOU ARE WELCOME. COME IN! SUBJECT TO PRIOR SALE AND 100 shurps lit'ftoii, Dickinson X Company—Common ‘»o.‘>o 18 shares Carolina Telephone X Telegraph Co.—Capital. -0 shares Colonial Stores, Inc.—Vi Cum. Fid. 1i.’.0 100 sh ires Kaiser Steel Corp.—Bl.lo Cum. Fid. y» 100 shares National Food Froduets Corp.—('.mini >n | 118 shares Fiedmont Natural (ius Co., Ine. —$r».50 Cv. Fid. II .* 0 jOU shares Superior Cable Corp.—Common . _ . .. . 3.7*0 (For Confirmation Call Local Representative) CAROLINA SECURITIES CORPORATION INSURANCE BLDG. - RALEIGH, N. C. - PHONE TE 2 3711 Charlotte, N. C New York, N. Y. Members Midwest Stock Exchange Transactions on All Major Stock F.xrlmnn*-s Handled at Minimum Commission Kai«.*s. Represented in this area by: DAVID M. WARREN Phone 2466 Edenton TRY ThERALD 75laSSiT!fTaTT PAGE SEVEN -SECTION ONE
The Chowan Herald (Edenton, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
June 7, 1962, edition 1
7
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