THE WAYNESVILLE MOUNTAINEER
Page 8
Is Tom IT
lsi0S(O)ini
ff Def
Saws
13)42
Farm Prices Will
Be 10 To 20 Per
Cent Above 1941
(Continued from page 1)
lieve that cities gradually become
immune to bombing as individuals
become immune to almost every
thing which, comes along slowly
and lasts long enough. Of course,
if the British and Americans should
invade Europe, bombing planes
would tremendously help the invad
ing army by destroying the ene
my's communication lines, crops,
and oil. But for scaring the peo
ple of a country, bombing has not
been successful. Statistics indi
cate that the money lost in the
cost of bombers destroyed amounts
to more than the property loss
caused by the bombers. The Multi
plication Table, as well as the Ten
Commandments, is bound to be a
factor in bringing this war to an
end, but when? The blockade
however is becoming an impor
tant factor, but blockading takes
time whether against Germany or
Japan.
investment which farmers know is
land. Many will be so foolish as
to again get land poor as they did
following World War I. There also
will be some purchasing of small
farms as inflation hedges. It looks,
however, as if other than in de
fense areas the "small home" in
dustry has about reached its peak
and will begin to slump off in 1942.
Ordinarily this should result in
increased rents and an increased
demand for houses already-built.
It must be remembered, however,
that where a third of the workers
will have more wages and want to
move into better houses, two-thirds
of the workers will have, no wage
increases. Many will have wage
decreases. Some will see their ex
penses so increased that they will
be looking for cheaper homes as
well as for cheaper cars. Readers
who have real estate which they
would like to sell should make a
strong effort to sell during 1942
at least sell enough to get out of
debt.
Uprising May Come
AH of this means that the only
hope of bringing World War II to
an end during 1942 is an uprising
of the Germans, Japanese, and Ital
ian, or of the people of the con
quered nations, or of the people of
Great Britain, or of the United
States. To have the people of any
of these countries quit and go on
a "sit-down strike" would bring the
war to an end. 1 can visualize this
taking place sometime after 1942;
but I cannot visualize it as com
ing about in 1942. In this con
nection let me remind readers of
.what I said last January regarding
the destruction of crops and fuel
supplies during 1942. Therefore,
I say that there will be no peace
in 1942; that many non-defense
industries will be depressed
throughout 1942; and that business
as a whole has already seen its
peak. The war may even last two
or more years . after 1942: but
after 1942, two months before it
ends no one will forecast the end.
Real Estate Will Hold Firm
Prices of farm lands should
strengthen during 1942. Farmers
will be more prosperous. The only
ooooooooo
rlfOUS
Wn,J rs. A
hip - u
iv ...
Til I
M est of us knock on
wood or refuse to walk
under ladders. " PI a y
safe." we say. M uch
more important, play
safe with your insur
ance protection. Let
this agency take care
of it. We will do a
good job.
L N. Davis & Co.
Real Estate Rentals Insurance
"Satisfaction With, Safety"
Phone 77 Main Street
OOOOOOOOO
WOMEN!
What About Retail Trade?
Mechants in the defense areas
should have a good year. I am
not so hopeful for those outside
defense areas. Certainly, the num
ber of sales will be smaller al
though the total gross may hold
up. Expanding the draft age may
have a dampening effect on retail
trade later in the year. The new
draft call may afso cut the labor
supply of many industries. Black
outs are another factor in retard
ing cosumer buying. Hence, mer
chants should increase advertising
appropriations if they expect a
good year in 1942. I advise mer
chants to keep down expenses;
avoid wage increases; and get out
of debt If someone else offers
your employes more money than
you are now paying, let him have
such. After the war they will
come back to you glad to work for
less money than you are now pay
ing. Don't speculate in merchan
dise. Keep well stocked on stand
ard goods, but avoid style goods
which are hard to carry over. In
flation is with us and is gradually
increasing prices at the rate of
10-15 per cent a year. Legisla
tion can check it, but it can no
more stop inflation than can legis
lation stop crime. Remember that
when the war stops, it will stop
suddenly. Therefore, merchants
should keep close to shore,
Roger W. Babson's Thumbnail
Outlook t or
1. Total Business; Defense production will be up sharp
ly; non-defense down sharply; average below 1941.
2. Employment : The above -also applies to employment
and to wages. "
3. Farm Income will oe up 10-20 in 1942 over 1941:
4. Dividends and Business Earnings have passed their
peaks.
5. Labor : There will be far fewer strikes in 1942.
6. Commodity Prices will strengthen somewhat, espe
cially the prices of imported goods.
7. Taxes will be severely felt, especially by the white
collar group who can expect no pay increases.
8. Retail Trade will be a little off in 1942 compared with
1941. "V-."v
9. High-grade Bonds should decline, but good Stocks
should sell higher.
10. Creeping Inflation will continue throughout 1942.
building, auto production, and non
defense foreign trade generally go
in the same downward direction.
Residential Building Will Decline
Residential building during 1941
increased, as a year ago I forecast
ed it would increase. Hence, I do
not like to risk my good reputation
now in giving a figure for 1942. I
believe, however, that rising costs,
scarcity of certain materials and
the provoking way in which labor
has acted is hurting residential
building. Surely it will show no
increase in 1942 over 1941; while
I should not be surprised if it fell
back to 1940 figures possibly to
the extent of 10 per cent to 15 per
cent. Public works and hiehwav
construction will be less in 1942
than in 1941. The building of in
dustrial plants will continue in
good volume during the first six,
months. Pleasure car production
will be cut 50 per cent. General
export trade, except for war pur
poses, will also fall off. This Will
especially be true for residential
speak for
pij
ADMINISTRATOR'S NOTICE TO
CREDITORS
Having qualified as administrator
of the estate of J. H. Rogers, de
ceased, late of Haywood County,
North Carolina, this is to notify all
persons having elaims against the
estate of said deceased to exhibit
them to the undersigned at his of
flee in Waynesville, N. C, on or
before the 10th day of December,
1942, or this notice will be pleaded
in bar of their recovery. All per
sons indebted to said estate will
please make immediate payment.
This Dec. 10, 1941.
T. L. GREEN.
Administrator of J. H. Rogers.
No. 1145 Dec. 11-18-25-Jan. 1
8-15. .
ADMINISTRATRIX NOTICE
The undersigned, having qualified
as administratrix of the estate of
Gaither B. Ferguson, deceased, all
persons having claims against said
estate are hereby notified to file
the same duly verified with the
undersigned, Mrs. Gaither B. Fer
guson, Clyde, N. C, -on or be
fore December 11, 1942, or this
notice will be pleaded in bar of
recovery; and all persons indebt
ed to said estate will make settle
ment forthwith. ' '
MRS. GAITHER B. FERGUSON,
Administratrix of Estate of
Gaither B. Ferguson, Deceased.
No. 1143 December 11-18-25-
January 1-8-15.
Feel Relieved
Send us your Holiday
Cleaning for quick and
expert service.
Our methods are guar
anteed to satisfy. No
stain, no odor.
You'll be surprised at
our low economical prices
too. ..
Central
Cleaners
Main Street
Phone 113
Utilities Should Improve
The utility industry is basically
sound. With a fsw exceptions
when high-finance crept in, the
utilities have been conservatively
lustries may get wage increases
during 1942; but not more man
enough to offset the rise in the
government's cost-of-living indices.
Certain concerns engaged in the
non-defense . industries will be
obliged to pay key people a little
more to hold them. The great ma
jority of workers in the non-de
fense industries will get no in
creasts in 1942, while some will get
and efficiently managed. They
have been foremost in reducing the
cost and improving the quality of their wages reduced. The year
their service. i 1941 saw the peak of strikft. and
. r , wape increases.
N inteen-f orty-one has been the . '
best year that the railroads have j What Will Congress Do?
J-.i My forecast a year ago as to
ior.ii..w.M "c f"""r'r","""'"'uhat Congress would do in 1941
000, compared with .auu.wu.uuu - - correct. Now. I
in 1940: while the net lor 1941 , , when
, -,i u. rnnrnnnnnn ... 1 !ure"'1 'v" . .
Will UtJ HUVUl fff6U,UUWWW win-
farm products are not being con
trolled! Even wages are omitted
"because we cannot, force people
to work" and yet wages are ine
most important factor in setting
prices. Bernard Baruch is correct
when demanding the freezing of
everything on a given day, com
modities, farm products, wages,
rentsinterest, and profits. Fine!
But how can such a law be enforc
ed? Remember the boot-legging
during prohibition days and apply
this to 100,000 articles! The an
swer is in having price control
apply to a few essentials and then
ration these essentials.
Social Security Legislation.
There will be a new tax bill in
1942. It will somewhat increase
mrnnration and personal income
tve but not seriously. Let me
ocnin remind readers that all the
Congressmen and one-third of the
Renntorn will be ud for re-election
on November 8, 1942! There will
be a serious attempt by the anti
inflation group to further tax lux
uries and unnecessary non-defense
nroducts as the easiest way to
raise money.
during 1942 about 10 per cent over
the "1941 average." But do not
get excited! These prices are now
about 10 per cent below the, 1926
level which the U. S. Bureau of
Labor Statistics considers "nor
mal." Those who expect a less-than-
10 per cent increase point to
(li the large stocks oi food sup
plies, raw materials, and merchan
dise' now on hand; (2) the heayy
advance purchases which consum
ers made during 1941 which could
keep them going for some time ;
(3) the high taxes oi various kinds
which 1942 is to witness, together
with the curtailment of intallment
credit; and (4) a gradual increase
of unemployment in the non-defense
industries. j
Rents and Strikes
Rents will not decline during
1942; but whether to make long or
short leases is debatable. Those
nwniner laree. old style houses
should sell them during 1942 for
any price they can get. I say this
because of the action of carpenters,
brick layers, plumbers, and paint
ers who are fast killing the geese
which lav their golden eggs. You
can no longer afford to make over
a large, old house into apartments
as you once could. Again I say
try to get out of debt during 1942
pared with $682,000,000 in 1940.
The coming year 1942 will show
higher figures both for gross and
net earnings; but if so, 1942 may
be a good time to get out of rail
road securities. Yes, get out and
stay out. After World War II the
railroads are sure to get an awful
licking from shipping, airplanes,
pine lines, auto trucks, motor
coaches, and private cars of all
kinds. Besides, the recent rail
road wage award is very unfair to
the railroads.
Money Rates and Bond Prices
Money rates will stiffen during
1942 ; perhaps not appreciably,
but some. Certainly any change
that does take place will be on the
upside. The U. S. government can
not spend about $30 billions a year
($575,000 per second) "mostly lor
firecrackers" without an ultimate
strengthening, df money rates
even though one-half of the sum
is raised by taxation.
Cost of Living
The official government cost-of-
living figures, which will be pub
lished during 1942, will show a
small increase each month. The
reason is that these figures must
cover the same items, brands, and
grades in order to have them use
ful for comparative statistical
purposes. As a practical matter,
however, a family can switch its
purchases from sirloin steak to
top-of-the-' round without any in
crease in the cost-of-living. The
same family can cut down on des
serts and save money on both food
and dental bills! Hence, there need
be no increase in the cost-of-living I
for well-managed families during I
i4Z. This is especially true as
15 per cent now goes into the gar
bage pail or is wasted in other
ways.:
roncresa declared war it performed
its most important single act until
peace comes. From here out it
will become of necessity somewhat
of a rubber stamp. War emergen
cy powers of the President will
require but little action on the part
of Congress.
Price Control and Rationing
Tf nriee control legislation is
enacted in 1942, it will nnt be very,
successful Price control, without
rationing, is usually a failure. ;
Of course, the entire set-up ap
pears cock-eyed to me. For in
stance, the purpose of price con
trol is to prevent inflation and
to discourage the purchase of non
essentials. But, does keeping
prices down discourage purchas
ing? No' The way to discour
age purchasing is to let prices
rise. But, you ask: How about the
prices of essentials such as food?
Well, strange to say, the prices of
There will be fewer strikes in
1942. The strike business has its
"ups and down" like the stock
market. Labor leaders, like Wall
Street bankers, strike while the
iron is hot; they speed up while the
going is good. With both labor
leaders and bankers, their jobs are
purely a "business" of the aver
age labor leader will not be so good
in 1942 as in 1941.
Farm Prices Will Be Better
I estimate that if farm prices
are controlled, the farmers in 1942
nmy receive an increase of 20 per
cent over 1941. This could in
crease the national income 10 per
cent and raise farm consumer pur
chasing power to nearly double
what it was a few years previous
Cash farm income in 1942 should
reach about $13,000,000,000 the
highest since 1920.
Firmer Commodity prices
Wholesale prices will average
Stocks to Go Up
The stock market was a "selec
tive market" during 1941 and will
probably continue to be such during
1942. While the market as a, whole
was declining, certain stocks were
moving upward. Among these
were war stocks, movie stocks, mo
tor coach stocks, chewing gum
stocks, soft drink stocks and cer
tain chain-store stocks. On the
contrary, the stocks of companies
making mostly refrigerators, oil
burners, auto parts, and the like
have declined much more than the
average market.
Defense Costs For 1942
During the calendar year ; 1941
our government spent about $16,
000,000,000 with revenue of over
one-half this sum. It is esti
mated that this will be nearly dou
ble in 1942. I estimate that on De
cember 31, 1942 the government
debt increased during 1941 about
$12,000,000,000. Bankers recently
estimated that on December 31,
1942 the government debt will be
about $65,000,000,000 compared
with only $20,000,000,000 in 1922
and less than $2,000,000,000 in
1917. As a result we are slowly
approaching state capitalism. The
Federal Government may some day
control banking, transportation,
and farming. I am ; bearish on
long-term government bonds.
was any cyclone Mlk. ,
Property or for nJ'H
(2) To wa .
circles or gov," i
vote by secret ball.01
or not they &haU-
hearing argument,
labor leaders and CZ
(1 am willing to agree d
poration be allnuL
"lock out" without
by its stockholders.?
m 1942 to encourage tk
ment of Justice in eli
rackets. ""wata.
(3) BabsoncW .1,.-. '. I
S. business tod . "14
high. Production and V,
t on records are b
along the line. Merest
ed and at higher
Lbefore. But if m?C"
1941 we will be lucky 1
- We should work, study J
shoulders rests a great i
bility. This is no time C'
or pettiness in any fon,
stakes are too high. The
life of our countrv a
living hang in the balance, j
join wholeheartedly in
rifice, effectively co-ordiMwl
tip the scales for righteoul
anu insure security. The
cans lor all we Americans
give oi time, money, and
Hlfr.o -.f ..11 . .1 .
mvai, ui an 1 1 uieans mat we g
ask of God forgiveness for
past selfishness and wasteful
Lets begin the new year wii
nonest prayor that each of us
dividuals sr..-! be better men!
women.
Closing Warning
Just a word to various groups
who read this forecast: (l)To man
ufacturers and investors: Get out
of the objective case. Stop kicking,
but help more to row the boat. If
you believe in "private enterprise"
show more of this enterprise in
your own plans and policies. If
you love personal liberty, be willing
to fight for it, to be taxed for it,
and accept the risks that go with
it. If you wish to avoid having
the government make employment,
make it yourselves. There never
The sale of whole milk
brought an income of $40,l
to Mitchell county farmers M
the past year, reports F.L
ard, farm agent of the N. G
College Extension Service,
NOTICE
Having qualified as Extou
the Estate of Gover Smith, ie
ed, late of Haywood Count; 1
Carolina, this is to notify tti
persons having claims agiins
Estate of said deceased, to
hibit them to the undersign
Waynesville, N. C, on oi t
the 4th day of December, 1W
this notice will be pleaded in b
their recovery. All person!
debted to said Estate, will p
make immediate payment
v This December 1st, 1911
BRYANT SOT
Lues;
No. 1139-Dec. 4-ll-18-i
11-8. I
V V7 tquvi yVr
Real Service,
These Firms!
see
IH y ptSS I
SAVE TIME
SAVE MONEY-
Will Wages Be Frozen?
Some engaged in the defense in-
RIDE
Peoples' Transit
Waynesville, Haselwood
Dayton Rubber
Economical
Dependable :
Safe
100
Try the New Invisible
Half Soleing
LAMAC-WELD
' Nichols Shoe
Shop
Main Street
NOTICE OF SALE
On Monday, January 12th, 1942,
at 11:00 o'clock a. m. at the Court
House door in Waynesville, Hay
wood County, N. C, I will offer for
sale at public outcry to the highest
bidder for cash, the following de
scribed real estate, situate in said
Town and County, to-wit:
BEGINNING on a stake in the
Southern margin of East Street,
which stake is six feet from the
pavement and S. 69 W. 140 feet
from Western intersection of East
Street with the street or driveway
leading to J. E. Massie residence,
and runs S. 6 30' E. 265 feet to
post; thence S. 82 45' W. 54 feet
to a post; thence S. 17 05' E. 220
feet to a post; thence N. 67 45' E.
204 feet to a pest; thence N. 15 30'
W. 275 feet to a post; thence N. 11
W. 216 feet to a stake in the
Southern margin of East Street
and at intersection of the afore
said street or driveway; thence
with East Street, S. 59 W. 140
feet to the BEGINNING, contain
ing 1.86 acres, more or less, as
per survey and plat of N. Rogers,
surveyor, made December 16th,
1936.
Sale made pursuant to the power,
and authority vested in me by
virtue of that certain Deed of Trust,'
dated March 4th, 1937, executed
by Olive Boone Green and recorded
to Book of Deeds of Trust, No. 81,
r? c?13 t PRINTING
Registry, mi wmcn instrument na - -
record reference hereby made for TRftT KELPS YOU SELL GOODS 2
oil f Vi a tavm m an1 firtYi aar i . ;t J
,wuuwva ituawvm z our sales mcfacc CIICK ocxicx
dpfnnlt havinflr hwn mada In thA wSen thev re well orinted on s aual M
Junaluska Supply
Machine Shop
Phone 88
Specializing In
Welding
Bracing
General Repaii
Garatre Work
LATHE & PLANER
WORK
payment of the indebtedness there- t ,ty r J c show 4
"t wul oeip you ieii more gooos. ;
mis uecemrer iuxn, i4i
A. T. WARD, .
Trustee.
No. 1144 Dec 18-25-Jan. 1-8.
THE MOUNTAINEER
Real Estate
Automobile And
Fire Insurance
ATKINS
Insurance Agency
Phone 301
HURRY! HURRY!
Let's Go To
Charlie's Place
Delicious Sandwiches
Curb Service
Eyes Examined
Glasses Fitted
125 Main Street
C ON S V LT
DR. R. KING HARPE
OPTOMETRIST
Wells Bldg.
For Appointment
Telephone 2483
Canton, N. C
SPECIAL
Floor Sanding ,
Finishing
New Equipment
Call Canton 4152 Or Write
Box 283
Bob Carter
' Canton .
For Quality In
Office SuppUes
see
The
Mountaineer
Everything For The Office"
All the convenience! ol'citf
Cooking
Water Heating
Heating
Quick Clean
Economical
A'k ui for tlmt
PtlMi
Phone 196
See :..;--V
Service Cleaners
For the best in Cleaning and Pressing
In the Basement of the Boyd Building
Entrance through the Boyd Furniture
. Store - '
Singer Sewing
Service
r Sales-Servtce-Be
Hemstitching and BuW
Also Cover Buttons.
' Opposite Masonic
Phone i.
The Best Of
FOOD
As You
Like It
KNOWN FOIUS
AS THK "
FOODS
W, Serve FOOD,
A Fill"'
ami
Vol
Green Tree
Tea Boon1
Phone 9165