Newspapers / The Kings Mountain Herald … / June 25, 1948, edition 1 / Page 15
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fP* f- "v \'v' - * * Friday, June 25,1M* i^\LOOKTJVG ' *T/ AHEAD ( GEORGE S. BENSON Pltttdtnl? HirJmf CtU($t Sturtg. J iit Mi k ? " a New Light on Profit l? Some industrial leaders nowadays re- . fer to that old joker item, "profit," in a ' ^ new way. Annual reports of corporaUons are beginning to liat profit more : ; properly as that part of the sales dollar ^ . spent for "use of the tools." This is an A ' understandable way to designate what- ? ever money is paid'to stockholders or K I Kept in the business for reinvestment > or expansion. If American workers have good tools .B' I they turq out good products at reasonable prices. Without good tools the pic- J t) ! tore would bp different. Wp do have ii ; good tools and good plants, better than J c< any other palm. But these things did '. not come by aes^snt Those tools have I bl . accumulated because all of ns have been ' .A a - - ? - 1 ** ire* M SMI ????. We Have put j c) savings into to*In of production. Th'se ! . | things *r?' our capital. I h M. ] Work "la 7 A huixlrnl years ago each workman D | had only |6ftO invested for hie use in the jr ! for of tools. Today more than 11 times ? this amount, or about 94,000 worth of p tools, is hack of the average American, I workman in his'productive efforts. In ^ terms of purchasing power, our average fc , workman's wages have increased about jr five fold, even though he works only el ! half as many hours as Ac did then. j< Tools, then arc important to all of us. jc ! Where do they come from ? The price of .these better tools (sometimes they're 1 j expensive tools) has come from people i able to save from their incomes a little surplus to invest. Most of these folks today are in the income bracket of $6,000 j Or over. But through life insurance and I bank savings, nearly everybody in AmI erica participates in these purchases of i-" ? v-?-? vi_u ?J?J vwovuoij) n? iiiKU ovniHiaru of living partly because of the laborI aiding tools we have accumulated. That Is fine. But We must not forget that it is I possible for America to have such naI tional policies that tool investments are .not forthcoming. In fact, during 1930 ' to 1940 when our account in tools (capital) slipped downward 19.4 per cent, we found that our economy went backward mt rather than forward. ? Looking at'the record, see see that most of our tools were accumulated in 0 the generation prior to 1929. Prom 1920 to 1930 new capital flowed to industry t the average rate of 6 billion dollars a year. But the years from 1988 to 1946 were dangerous yesfr*. During that period ?i yearly average -of leds than half a billion dollars went into tools for our Workers to use. ( Toole or Taxee? k What was the trouble t One trouble ' was that government had entered the picture and had begun to siphon funds away from the capital market. Tool money was turned into taxes. New tools became scarce. People were afraid to Invest. Even after the government had [ pent its part of the sayings taken in ; taxation, depression remained and mili lions wete Still unemployed. We needed I money turned to tools and incentive, not . to taxes. Unsound taxation policies must not i be allowed to get in the way of good tools and incentive divestments. Today our corporations are retaining smaller I profits tl>an may be turned into tools. 'In 1946, though it was the best year on i record, manufacturing establishments averaged only 6 cents profit (use of tools) out of the sales dollar. The corjuration average was less than that. We must not forget the importance of tools; We heed profit, foT profit means tools. Im( ChillstFever mm RELIEF ? PRESCRIPTION SERVICE I[ THE REXALL STORE W* Ceil For and Itolhrtr I C' 1 '. v ' ? . >g' , WITH EYES W1 - - V JAY( FRIDAY. JUNE Scott Greets Grouj Campaign Stopove W. Kerr Scott stopped briefly at jngs Mountain's City Hall to meet nd greet local" supporters Monday lorning as he began the last week f his Campaign for governor in aturday's second primary against hai'les M. Johnson. It was the first visit to Kings fountain Mr. Scott had made since pril when he addressed the annual armer's Night banquet of the Iwanis club. Asked how his campaign was tring. Mr. Scott replied, "It looks ood." Later, reciting his schedule for te remainder of the week, he laugh ?gly remarked, "Yes, the revival >mes to an end Saturday night." Mr. Scott wore a conservative gray usiness suit and looked none the for WAar affar couoral rw*r\w*+ V.a f hot campaigning which has cared him all over the state and ack again. He smoked a cigar and "Forward-wlth-Scott button" wa6 Inned to his tie. He v,as traveling t a Chrysler, well-covered with the reen-on-white Scott-for-Governor lacards. Some 25-30 persons were at the Ity HaTl to shake hands with the wmer commissioner of agriculture, icludlng principally his support's, but with at least one or two >hnson supporters on hand, and at ast one Republican ? former PostAUTO L FINANCING?] ?? Quick. Efficient C See "I Home' Finan Of*** 1*** (^ K #1 V Wm -T : ' ' *'" * '" . ' ;, . PL< ! rnr aHfivi Lira vrui: CEE BEi ia%l v- " ,.. v. 25TH ' -v * '; v .. - ? . ' .. , ^ BGfiSfS-V -iJ*''?"?* '**'. ' . M. ' . ' ' . " rf' * . -\ v* ' -V" /'*' J THE KINGS MOUNTAIN HE? i Of 30 In i Here Monday i master J. S. Ware. Mr. Scott made no formal speech, but told the Herald bis plans < for roads included wqrk on rural roads "within the budgetary limits." He added that he did not contemplate a, sweeping reorganization of the high way department except for top personnel, and said he thought the rank-and-file of highway department employees deserved a raise in pay. "Why we pay farm workers in my part of the^ountry more than we pay highway worke*? " he re-, marked. The Herald reporter pointed out ! that the Scott school platform was similar to the Johnson platform, and asked what major differences there are between the platforms of the two men. , _ Mr. Scott replied that thete are not too many differences, but added "I have made him (Johnson) commit himself." Mr. Scptt's Kings Mountain stop-: over was arranged by Irvin Allen, prominent Kings Mountain Scott supporter. Mr. Scott ran second to Mr. Johnson in-the first primary by about 8,500 votes. To avoid deterioration while in storage, many parts for Navy, planes are now being bought and distributed sealed in "tin cans". OANS 1 REFINANCING ~~ onfidentid Service tOCK" 4gpr ce Company in. N. C. , nt of the Pcstoffice \ ?2035 1 ITS THE GTS"" y/i/rv? ~ THE LOOK Of OM-BUILT CAM )N WHEELS I A ^v Jm V^r S DREAMY ON THE INSIDE, TOOI >'0U TTER LOOKING UPHOLSTERY AND FITTINGS FA FRONT AND IV, . BACK SF> KND NEV/ ENGINES: ARI H P V 8 OR J^K'j 5 H P SIXI ONK M< v * V- ' ' ' -STARTS 8 P. kVTY Pi HIGH SCHOOL kl i ' ' * ?? I ; V. :p *" " 7;/ V _ * v, v- _ AID, KINGS MOUNTAIN, N. ( . ' j *\_ ? By Way Of Mention Lois Becrttie Mr. and Mrs. Ernest Davis dnd Mr., and Mrs. James Lewis spent Sunday with Mrs. Davis's Mother, Mrs. Lucy Greene of Laurens. Miss Geraid Huntley and Mr. Albert Peterson were married June 4th. "Mr. and Mrs. Albert Payne had as their guests Sunday Mr. and Mrs. D. V. Fuller and ton, Danny of Belmont, Mr. and Mrs." W, A. Brown and son Deane of Gastonia. Alan Emory of Laurens is on an extended visit to Mr. and Mrs. Ernest Davis. Mr. Troy Wright and Mr. Dave Smith Jr. spent Saturday in Gastoia. ' n* 1 rinnacie g*g N Stort your chid Chick Starter c obtainable. De growth. W A r s ONE AND ONLY NEW CAU / JN /TS F/EID/ V^bi^V N?Vf* SAW I IT AT OUJt SHOW, OTOR < rOUB FORD DUin ML- 1 . IGEANT IDrromUM ' m Mrs. Gordon Beatty spent ' the |ai week end with her hu'.barid, Mr. ( Gordon Beatty of Oteen. j i? Mrs. Novella Philips spent Sun- j day with her brother, Mr. Plato Foster of CherryviJle. , .'!aI Mr. and Mrs. J. 1. Hope had as her fa guests Sunday Mrs. Fred Sanders er 1 j ? , . Dr. James i ir-r**? optomei Examination. Diarjnos Office open each Friday 250 FIRST NATION# Chick Sta i ruv \irvT" ryn i nui i lu with the New Improved 2 ore fully made from the bes signed principally for quic lade in Rings Mountain by lRE & SO Get It From Your De? n,'oi / rufiff big none / in comfort on i "AND rear seats i THOSE "MAGIC ACT/ON" KINGSI2 ARE BRAKES YOU LOVE TO TOL [jfc Wkltt ildtwall that mvmloblt at m 1 THRTS IV CUBIC FEET . OF USAME SPACE IN THE ^ IUGGAGI COMf AfiTMf NT I [y *3 ROOMS MOW COMPAN TO WONT WANT I and DAY ?7 ' * ,'"'v- 3. - I'-.',." vUV-*v ' IBANK LOVE'S 01 , . - " r . Page Send * ' Id daughter Carol. There will be a singing convent n at the Church oI God Sunday. Wavy scientists have developed" > all-electtic camera 255,000 times ? ster than any motion picture cam a commercially available. / r**1 1 " * 1 1 S. Bailey I HIST i ' \ A/ .ft is. Glasses Fitted I r 10 A. M. to 5 P. ML LL BANK BLDG. I ms . rter-? . . * . rv.- ; i/ 20% Pinnacle t ingredients k and sturdy ' k'f: ' V > - k NS - ' I 5a<T jo * tf/o CO ft. -MrMA-COU" nOHT SHUHC** I* '. '.$1 Y ;: :' I PHONE 138 i df - ~ ' - - - 1 ? TO MISS IT! ff iCE J KCHESTHA |K (4-:\f-' ' '- ..a!mib$.i
The Kings Mountain Herald (Kings Mountain, N.C.)
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June 25, 1948, edition 1
15
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