Newspapers / The Perquimans Weekly (Hertford, … / May 25, 1956, edition 1 / Page 2
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THE PERQUIMANS WEEKLY, ' EERTFCHi), .J- CAROLINA, FRIDAY,-MAY 25, 1S56. a B'-i- J I lam V ,...lL I ..'L1LC17 L"..I".SZ III l:;swg$ D":::s 1935 ' merican people In their fariri homes, installment and other ending spree last year consumer credit, agricultural morfc. e quivalent of $1.63 to gage and non-real estate debt. and' .aortal debts for- every dol- lite insurance policy iqans,;iw I incttSe"in their long-term The Recent Trends, iif. j v, ,V "V 'J" ' ' ' tne same t'me accumulated . Jres compiled from Goverji- long-tei-m savings of individuals in' t and private sources show (hat ftfe insurance, savings accounts, total of personal debt jumped savingB and loan associations, ind more" than 20 billions during current redemption value of U S. .5 t pestUnated $147 hillions( Savings .Bonds, owned- by individ i the yearUnd. " -This representen'oafs, but hot 'including home own ' far the biggest yearly increase ers' equities, increased by approxi . its kind in record, and it 'was mately $1,2 H billions during 1955' .1 again si great as the previous to bring the total to an estimated -k; annual rise in personal debt $232 billions at ihernd of the Ire-thati $13 billions in 1953 year, according to" the Federal i debt figures consist of mort- Home" Loan Bank Board.- While s'.on one-toifour-family non-this increase was second only to QlEiS OF PEROIOftriS COUIffY f M'have a vital interest iri the public ' r"inrtl RVstm .of Perauimans County and "North Carolina. ' My first, child entered, school in September, of 1942 and my last child should graduate in June 01 iy a. ;i;i)uring this 29 yea'f period I will have had three and four children in school mcst of this time: After the first 1.4 years as a -rent of school children: Ifeel that I am; .ijifJar with the operations1' of the frool cm in this county. ' -..' frr you are old-fashioned enough to be 'l.Vejthat the PRIMARY PURPOSE of !: r .public schools is to give a child an aca "mia education then a vote for me will i t be wasted. . ; - Herbert N. Nixon the one in 1954 as the largest for any year" in the decade since the emf of World War 11,4 fell $8 bil lions short of matching the net amount that the people had ex panded their borrowings during the year, primarily to buy homes, au tomobiles and other durable goods. The records show that a rise of such proportions in the net debt of individuals at the expense of sav ings occurred only once in recent years,; That was in 1950, when the increase in .individual debt for the yea? was twice that of the rise in long-term savings. That, however, can, be explained in the light of the special circumstances prevailing at thjtime-T-the outbreak of the Ko rean War and its implications lor the consumer sup rjmposed on the fac't that the people at large were still in a catching-up period from the shortages resulting from World War II. Two Basic Questions ; . Here in these recent trends in personal -debt and individual sav ings, and their relationships, is a factor with a direct bearing on two of. the basic economic questions of the .times. The first is whether, in the interests of " sound economic progress, the people have expand ed their debt too much too fast. Th6 second is the adequacy of: the present level of individual savings in view of the big expansion' of capital and investment needs up to now and the certainty that-these needs will grow greatly in' the years ahead. , It is significant in i1 , 1 I l,.- .Candidate for Perquimans County Board of Education : h E WE SELL WALL BOARD INSULATION PLYWOOD SCREEN DOORS ALUMINUM . WIRE DISAPPEARING STAIRWAYS PHONE 5401 PHONE 5401 Harris Plumbing & Building gupply Co- 1 .1 h. ti tt. , u .i 2 . . t , (l 1 J a .1 ' 'X. -. t ;Ii v lit. I i . J AjU, nn-tffi .aiyi i I WW i ( Cr ll (?l fS I? (7 S ? (?) fr 1? i d (s) u (h u i J j I . REGULARLY 1.95 $399 NOW ONLY .95 8999 AND YOUR OLD REFRIGERATOR i mut b In operating condition ft . , .- PIUS ' "I,J- - ' V other G-E convenience features a. automatic defrostina, fold-away bottle racks . 3 mini-cube ice trays, adjustable and .removable door shelves froe -zero ' &''z Wft freezer-and othersl x .. - . . J 1 .;,v. . ' I ; THIS IS A LIMITED OFFER! ' sr. - ' SEE CHARLIE UMPHLETT FOR DETAILS OP SPECIAL TRIP OFFER! , OXFORD. MOTOR CO. 41 J U.nl "J (J !, ,;Hertford,?N.G this connection to note that t-V growth i personal debt eceedtJi that of accumulated long-ferm sav ings of individuals by about 17 billions in the last decade, and that since 1940 the growth of savings exceeded that of debt in only one year, 1954. It is a recognized economic tru ism that the soundest method of financing industrial expansion and economic growth, without paying penalties for inflation and all its attendant ilia; is ot of sav? togfc of th people. V$ to' recently 8 record in this respect was en couraging. In 1954, for example, tha people's savings in life Insur ance and other thrift institutions provided,, half of the' new money made available by the- capital ttiar ket to meet the1 credit and invest ment needs of business and indus try, home owners, and Government (Federal, State afid local combin ed). ' Rising Capital Needs ' f In 1955, however, according to preliminary figures, these demands on the capital market expanded by more than a third to a total of chtfe to f 45 billions while the contribu tion of institutionalized savings in creased only slightly. As a result the funds made available to the capital market by thrift institu tions fell to little more than a third of the total. This is why more and more attention is now being paid to ways and means of encouraging more personal savings 'to provide the economy with the funds need ed for continued expansion and for a further rise in living standards. While all forms of personal debt have increased in the last decade, the figures show that home mort gage debt, estimated at $89 bil lions at the 1955 year-end, was five times bigger than it was at the end of 1945. Owners equities iri their homes have, of .course, increased also but there are no figures for this. Consumer credit has risen some' sixfold in the period, from less than $6 billions at the end of 1945 to more than $36 billions last December, with installment debt the big factor. Aggregate farm debt has more than doubled in the decade. Life insurance policy loans have shown a relatively modest rise both proportionately and in dollar totals. As a result of recent trends, the total of personal debt at the end of 1955 came to the equivalent of 63 cents of every , dollar of accu mulated long-term saving's of in dividuals at that time. --This was just under tne proportion that pre vailed between the two in 1940, but it compares with a ratio of only 25 cents in personal debt lot every dollar of long-term savings at the filled more than two-thirds full, end of 1945. . . Corn Prices Set For ComlngYeET In North Carolina's 27 commer cial counties, corn producers will be eligible for price' support this year whether they plant within their allotment or . not. Tilman R. Walker, chairman of, the ASC State Committee, explained that this change was made recently by the Secretary of Agriculture at the same time that he increased sup port , rates to all corn gfrowers. The rate in these counties for pro ducers who overplant their allot ment will amount to approximately $1.41 a bushel.'.; According' to Wnlk er, this is based on an announced national average of $1.25 a bushel plus a 16c differential that pre vails in this state. In these same counties, produc er who plant within their acreage allotment will receive a minimum national average support of $1.50 a bushel. The lc differential would raise this to $1.66 in this state. In the 73 non-commercial coun ties in this .state, the law requir ed that corn be supported at 75 per cent of the rate paid in the com mercial area. Seventy-five per cent of the $1.66 figure, would give art approximate minimum support rate in this State of $1.24 a bushel. According to Walker, this compares with $1.12 announced by the sec retary for the nation. - All of the support prices indi cated above. Walker explained, are "minimums.". :Thi means that the final support rate w4H not be re duced below the- announced '""mini mum," but it may be increased if the supply and price; situation on October 1, 1956, indicated that an Increase is desirable; The secre tary had previously announced that the minimum national average sup port rate for farms, in Commercial counties who plant within their al lotments would be $1.40 a bushel. "The increase in the rate and the change iri eligibility requirements in commercial counties was an nounced by the Secretary after h Jnt to ta'.e prompt administra tive action to increase farm income this year," Walker said. PTA Committees Named At Central C!ntvimtttee memberships for the Central Grammar School PTA were announced during the meeting of th organisation held last Monday, following the annual PTA picnic. Named to serve on committee fMrin the next school year were: Budget and finanfce, Thomas Mas- ton and Mrs. Bryant JBilier; mem-: Urshipir Mrai.; Frank Bray; study rroun. Mrs. . Thelma Bogersoni magasine, Mrs. filwood Nowell ;pro- gram, Mrs-E. W. Long; room rep resentatives, Mrs. Thelma Riddick; publicity, u: Miss' Johnnie White ; wiivs and means. Floyd Matthews, Tom Banks, Thurman Riddick, Ray mond Stanton,. Elwood White,,Ar- vin Hudson. 1 Historian. Mr. JohnnV Bray ; character and spiritual education, Mrs. Percy Trueblood; world oiti- lehship, Mrs. George Bake; hos pitality, Mrs. Melvin Kure;( goals, Mrs. John Hurdle; building fund, Mrs. Eugenia ' Beck; ' recreation, Thomas Butt; safety, Nathan Mat thews: nublications, Mrs. William Winston; school lunch, Mrs. Essie Benton, Mrs. Bertha Lane, Mrs. Bill Bagley; school grounds, Arvin Hudson, Floyd Matthews, Johnnie Bray, George Baker and Raymond Stanton. v GIANT SATELLITE TO RULE THE EARTH v First released details of re markable satellite which tne air force plans te launch, 4.000 miles high. A most remarkable and en lightening feature in the June 3 issue of - " . . - THE AMERICAN WEEKLY i Magazine in Colorgravure with The BALTIMORE SUNDAY AMERICAN On Sale At Your Local Newsdealer Geo us for Albemarle Chemical Company .. THONE 515 HERTFORD, N. C. -"tv; ;r- r.- v'.. JLJ- o "v..,:.".' By cxZzr cf the Town Cci'jncil, in reulif meeting 1955 delinquent taxes in Hertford will be advertised on ; June 11, 13. ; , : i : ; . i of tle same will be held on Monday July1 ; 1 ; 9th; 1CC, ; Please make settlement now and save yourV ',", ' self adJUwal costs of advertising. - : - - . CLERK TOWN OP. HERTFORD ill V.) ( i ' ry ii . r J H; " ' Side-dress with ARCADIAN. Nitrogen Solution to feed your corn the nitrogen it needs the easy, low-cosf Way. Machinery does the heavy work when you apply ARCADIAN FERAN or ARCADIAN NITRANA1 Nitrogen SolutiOMs Iron a tank on' your tractor. No bags to lift, no high-pressure tanks to fuss .with. Your local' v6upplie? has the equipment, of you can use your own, ' and do a fast job. r Side-dressing 4d fo.80 acres per Jay is easy with. t ARCADIAN Nitrogen Solutions. Non-pressure FERAN can be applied from dribble tubes as fast as 100 acres' per day. Low-pressure NITRANA can be applied under( the soil surface as fast as 80 acres per day. Both of these; ARCADIAN Solutions provide economical ammonia and nitrate nitrogen to feed your crops well throughout tb. growing season. ' ' 1 " . See your ARCADIAN Solotloni supplier' now for nitr gen that saves backaches and bunas Dig yieias. Write us now for the name of your nearest supplier, NITROGEN 'DIVISION Allld Chmlcel k Oy Corporation Me y 1. 1. i. ' MdpMrett. v atiuw J.U. cotaMit l, 0. Only The Year-Ahead CHf? YSLBR brings you the FIRST FULL-SIZE 4-D00R HARDTOP ! ) r" : . .... i :x:::::::::::::y : : "T';i3Sisi- A Otl HMO IOOW, MP IOO, 1M (OOM THAN Mtf OrtKI 4-BOO,NACDTOr Doiited Um ihowt the hort toot typical of other 4 -door (iardtopt. Tb meaot cramped -bead and leg mom. Solid outline choWt Ouyalax'r loafer toot. Other 4 -door hardtop' hare abort rear win dow! indicated bf broken line above. Chryiler'a wrndowr ex tend all the war (0 the back of the rear leat. Chryiler'a longer roof, . greater rfom, and bet-. ter viiibllirr are the result of two-part roll, away window. Kear teg ment roll forward. Forward Kgment down. All the airy openness of a racy convertible and the full size and comfort of a big sedan. That's the Chrysler 4-door hardtop. v . ' . ; Yoii can get in and out as easily as in a sedan because the entrance area is full width. And you get full vision because the rear window comes all the way to the back of the rear seat. ' .'; Chrysler's, ingenious new roll-awa? action rtaf window is the secret It permits a fuH-size roof, -and the rear seat is back where it belongs. . -Best of all, this 4-door hardtop has all the YtA- Ahead features that make the "POwerStyte" Chrys-! ler the success ear of 19761 See it now! : -' fttk ms-Mnutf M . smeut ter o mt mr uui 7 J emrrsLCit rMw voxken ncwToht -oooi hardtop "P TOWES'WEB!:M0T3ll':C0L . ' DEALER'S FRANCHISE NO 1690 ."MAY IS SAFETY CI1TCZ. WONTTT . . , CT""3CX YCUR CA...C s had been requested by the Preii-
The Perquimans Weekly (Hertford, N.C.)
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May 25, 1956, edition 1
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