Wallace Native
Ends 42 Years
With CP&L
W. R. Hanchey, bead of Carolina
Power & Light Company's Substa
tion Design Group in Raleigh, will
retire December 31 after 42 years
with the company. His successor
will be Gfeorge P. Williams, who
has worked up through the same
group since joiniug the company in
1946.
Hanchey is a native of Duplin
County and was reared in the town
of Wallace, where he attended Cle
ment School. He graduated from
Trinity College ( now Duke) in 1919
with a major in engineering.
Williams was reared in Wadley,
Georgia, and Kingstree, South Car
olina, holds an electrical engineer
ing degree from Clemson College,
and joined CPfcL as cadet engineer.
He was promoted to senior engineer
in 1948 and will assume duties as
head of the Substation Design
Group January 1. The seven-man
group has the responsibility for the
design, preparation of plans and
specifications, and expediting con
struction of substations throughout
the company's two-state territory
After leaving Trinity, Hanchey
worked briefly with the Atlantic
Coast Line Railroad in Wilmington
and with a St. Louis electric firm
: He returned to North Carolina and
joined CPU. as a meterman at
Raleigh in 1920. He moved up to
draftsman, chief draftsman, and
design and construction engineer.
He was promoted to head the De
sign Group in 1941.
Hanchey is a member of the A
merican Institute of Electrical En
! gineers and Raleigh Engineers Club
and is a registered professional en
gineer. He is an active member ot
Edenton Street Methodist Church.
He views his coming retirement
as the end of a happy relationship
with employees "willing to lend a
holping band, in all conditions, at
work and at play, to one another
and to the community." He des
cribes OPAL as a 'good citizen" in
the 350 communities it serves.
His most rewarding experience
i has been in "'getting along with and
holding the friendship and respect
of those I worked with . . regardless
of organizational changes and cha
nges in methods of doing the job."
Hanchey expects to spend much
of his retirement in visiting the Car
olina coast, where be has a beach
cottage, in his hometown of Wal
lace and in Raleigh, maintaining
business contacts and family ties
Mrs. Hanchey is the former Mary
Susan Noblin of Oxford.
FOR THE FINEST IN JOB PRIN
TING CONTACT THE DUPLIN -
TIMES.
7% Investment
Credit For Income
Tax Purposes
By: William B. Boyette
Xt is believed the following re
lease will be of benefit to bus
inesses, buying or contemplating
buying tangible personal proper
ty, under new regulations recen
tly issued by the Internal Reve
nue Service.
Under the Revenue Act. of 1002,
Revised, a credit against tax is
allowed for taxable years ending
after 1961, in an amount equal
to 7% of the qualified investment
in property after that da:e. Please
note this is a direct credit against
taxes due.
To What will this Apply: Un
der the Code, most investments
in new and used personal proper
ty, known as ' New Section 38 pro
perty and "Used Section 38n pro
perty, with the exception of bui
ldings and real estate will apply
providing this depreciable pro
perty will have a useful lite o? at
least four years.
How does It Work: Briefly, the
7% credit will apply to the above
properly, based on certain perce
ntages as compared to the useful
life oi the asset. These percen
tages are as follows:
Life of 4 to less than 8 years is
33 1/3
Life of 6 tr less than 8 years
is 66 2/3%.
Life of more than 8 years is
100%
An example will illustrate:
(A) Machinery or equipment
having life of 4 years - cost
$3,000.00
(B) Machinery or equipment
having life of 6 years, - cost $3
000 00.
(C) Machinery or equiomen'
having Hfe of 8 years - cost $3,
000.00.
The rfollowihg crests would
"PPly:
"lost
\ $3,000.00, B *3,000.00 C $3,000.00
Percentage applicable
A 33tt%. B 66 2/3%, C 100%
This information is submitted
to 'ttstoerm >artiilarl ;h<
- ?? ? - - p ^??? vw ^
having an ending calendar year of
December 31. 1962, that might
have bought or will buy proper
ty qualifying as set forth above.
Release dated December 3,
1W?.
This is the season to count our
blessings-blessings freedom makes
possible. Enrich them today. Buy
U. S. Savings Bonds!
(Freedom is a continuing challenge
for each new generation of Ameri
cans. Let's help meet that challen
ge of tomorrow with purchases of
U. S. Sayings Bonds today!
COI try s
* p . '*?, ? '<
The aitetmas pre nt that tits
every s is a U. S Savings
Bond. Your bank has a handsome
new gift envelope for every Savings
Bond purchased as a gift!
Mr*. Lila Masson of Detroit, Michigan?Mr*. America?(hare*
her JoJ with all Americans in receiving a U. S. Saving* Bond
among her gifts. She say* the gift was particularly appropriate,
since regular buying of Savings Bond* is a family habit in the
Masson home. TTie gift of an extra Bond during the Yule season
is something the recommends to every family.
m j ? ??* wain ? omn?
W. R. Hanchey
[ blowing ?
I Water Guaranteed
I Oir No Pay
III register
I ( Register's Crossroads )
I RFD Rose HiU
Phone 28 8-7511
| Without J
I* OMPI?to*r?phs
I *? Restored
I PORTRAITS
I PHOTOGRAPHY
?** *'
B*
WK SPECIALIZE IN
WEDDING PICTURES
LANDER STUDIO
Phone 6341
WALLACE, N. C.
f WWfi NIffbU and Sfendan
?
L?I
If yoa have crowded
stands of Pine Timber
or stands with poor-qua
lity trees, why not let us
thin your woodland to
provide for faster
growth of future saw
' You will not only re
ceive current income,
hut also improve the ap
pearsance of these
Stands. Call or Write
ROBERT E.
WARD
P.O. Box 172
WALLACE, N. C.
?mm n OfOo* Ph.
289-4031 ? AT 5-2870
mm hiu ? ' wsium
"}" X% Ytfl PlL . '
? AT^ 5-2392 ?
Office In Wallace
Hwy. 41 West
Sam's Drug Store
Rose Hill, N. C.
?tal LT 2-2317
J. F. REYNOLDS
MUSIC COMPANY
Operators Of
Coin Operated Phono
graphs and Pool Tables.
Cigarette Vindors. New
and Used Records.
SIS Beamon St
j Clinton, N. C.
For a memorable
Christmas
see "Rose Ballet" and other
patterns in
International Sterling today!
\
r
I
i
?I
1
1
c
All
Pattern*
Made
?In U.S.A.
k*
Ask For Flakes' Recapps
at your |
Favorite Service Station
SEE
FLAKES TIRE SERVICE
Clinton, N. C.
Wilmington Hwy. LY 2-2809
We Want Your Hogs [
SEE US OR CALL:
PINK HILL LIVESTOCK MARKET
Pink Hill 56 8-3681
?
We Pay Premium For Top Quality hip
CLINTON LIVESTOCK ^MARKET J
LjNDY PAtC-C3 I
Pridgen
Plumbing Co.
Phone 293 - 7169
Route 2
Warsaw, N. C.
One Mile From
Jones Crossroads
Will Do Complete Job
Fixtures And tabor Or
Just Labor,
STATE LICENSED
CONTRACTOR
Drop A Card Or See -
Me In Person
Or Call
?Cfi
' FOR SALE '
Lumber, Moulding,
Plumbing Supplies
8 ASH A DOORS. ASBESTOS
SIDING, ROOFING OF ALL
KIND.
PIPIT
Plaster, Rock Lath,
Sheetrock, Mortar,
Brick, Cement
Block. Paints And
Builders Hardware
GUTTER. TERRA COTTA
Z. J. CARTER
& SON
WALLACE, N C
Cash and Carry
BUILDING MATERIALS j
CrtdH
if t? At Wholesale Prices
NM< It t
Southern Supply Co.
Across from Ike Park In Clinton
????1'' ??
WELLS STOCKYARDS I
WALLACE, N. C.
AUCTION EVERY THURSDAV
BUYING AND SELLINGS DAIL?
EXCEPT SUNDAY
OFFICE PHONE AT 5-2261 -
D. L. NULL) NIGHT PHONE AT
JACK r. WEIL8 NIGHT rHONS AT Mlk
Quality
I Sales - Parts -
Service -
WgST?I71iiMsi=<
I Farm Equip Co.
| Clinton, N. C.
"Your John Deere Dealer" Phone LY 2-3742
FARM LOANS
low cost s to 41 years
? JAK s
rimtx
call, wrttb, or n
M. T, BRITT
Clinton, N. C
ii ni i rim ,ii. ? ii 7.
Hike prudential
mnuooowwraiiiauci
rr 2*w!i?
/ UNIVERSAL
/ Portable Electric
a' Sewing Machine
J $49.95 1
I Complete with case \
I LIIILE itWlNG
I SHOPPf
I . Faison, N. C.
jr Nights Gai ' ::l
J 267 - 3341
SALES and SERVICE
''Prescription Specialists"
Phone 289 - 2422 Rose mi N. C.
. it.
I, ^UR DRlT^ f
STORE IS... ?
TOPS J
^pp ? Brownie Cameras
$5.00 to $15.00
? Amity
Billfolds
$5.00 to $7.95
? Old Spice Sets ^
$1.00 to $7.00
? Evening in Paris
Perfumes
$2.50 up
? Hair Dryers
$6.95 to $19.95
? Gift Wrapping
Paper
25c to $1.00
Christmas Tree
Decorations
? Christmas Trees
I ? Bath Powder* Photo
I Iam to AIbuta* m
m rJU $2Sff a
I ? *5athroom ? Timex
ui? Watches W
O FW UP $6.95 to 39.95 D
? Electric * Stuart M
I !rzors Hail
I f? J. Gift ^1
Stationery U
#9.95 & up # Old Spice K
teU . Gi" Set? n
I *8.95 up $2.00 to $5.00 O*
m
? Hair 9 Scripto
Brushes Ballpens
$1.00 to $4.50 $1.00 to $1.69
? Model ? Zippo
Airplanes Lighters
29c to 89c ? Pangburns
Candy
? BIG ? Sportsman
BEN Trie Shave
Clocks Lotion, Talc
? Sea Forth and Cologne
For Men 3 gilts in one
$1.50 to $4.50 $3.25
A
Safety Razor
Schick . $2.95
? '1
Stationery j
1.00 to $1.59
CHRISTMAS CARDS "
29c to $2.00
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