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Home-
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Thursday, February 15, 1968
KINGS MOUNTAIN HERALD. KINGS MOUNTAIN, N. C.
■Y THOMAS E. O-HAMA
Ckalnnan. Sowd of TraoMoo
Notlondl Aaooolitloii of Invoitmom Cfubo
Q. I have about $19,(KX) in
savings bonds and my credit un
ion. 1 plan to draw out $215 a
month, or $2,.580 a year until the
saving.s are exhausted. Do you
think there would be a better
way to invest while taking out
$2,580 a year?
A.. 1 don't know what your
crerlit union is paying in interest,;
but you can get 5 per cent or
more in good municipal bonds or
simply in .savings certificates at
your bank. If your savings bonds
and credit union don’t equal this,
then I suggest you consider
switching your investment pro
gram.
Keep in mind that compound
interest can do a lot for you. I’d
like to cite a chart used by the
National Association of Invesl-I
mcnt Clubs to point up how a]
wi.se investment program can I
provide additional retirement
funds.
The chart shows that if you
save $1,200 a year from age 40
through age 59, with interest
compounded annually at the rate
of 4 per cent, you will have $37,-
IGl by the time you are 60.
Having A ^
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Paul Lemmons
Phone 487-4502
Photographer
3:30tfn
At this point you can start
withdrawing $1,800 annually —
$600 more per year than you put
in—and still have $27,822 left
when you reach the age of 79.
That is supposing, you put the
money you saved in a bond or a
bank savings account. However,
if you were to buy good growth
stocks at a reasonable price and
get appreciation in both price
and dividends, your rate of re
turn could be even higher and
give you a still greater income
eventually.
Q. A friend says, “don’t put
your money in savings and loans
associations because their funds
aren’t liquid enough." What does
he mean? I can see no danger in
them.
A,. He didn’t mean that sav
ings and loan investments are
not safe when he said they are
“not liquid enough". He just
meant that most savings and
loans associations have rules
under which they can require
that you wait a while before you
can withdraw your investment
principal, although not your in
terest.
Savings and loan associations
were originally set up to provide
mortgage funds. They required
the notice of intent to withdraw
in order to protect their clients.
So far, few if any savings and
loan firms have actually demand
ed the delay in paying out of
principal that they are entitled
to.
Your savings and loan deposits
are, of course, protected by the
Federal Savings and Loan Insur
ance Corporation, a federal agen
cy, against loss up to $15,0(K). In
addition, real estate portfolios
held by savings and loan associa
tions which seemed to face the
same problems a year or two
ago seem to have improved in
quality in recent months. So, you
should have no concern about
their safety as investments.
Since anotlier part of your
question had to do with infla
tion, I will say that I think this
is a more serious threat to the
value of your dollar, and that
you might better cope with it by
investing a part of your funds in
stocks, or concertible bonds.
« • «
Have you a question about in
vesting? Mr. O’Hara, editor of
the monthly magazine, “Better
Investing," and one of the na
tion’s recognized authorities, will
answer as many as possible in
his column, but must limit ques
tions to those of more general
interest. Correspondents will re
ceive a free copy of “Better In-
vestinig." Write to T. E. O’Hara,
National Association of Invest-
ment Clubs, Dept. S, Box 1056,
Detroit, Mich. 48231.
Burlington Consolidates Two Divisions
WILMINGTON, DEL. — Sales
for Burlington Industries, Inc., in
its second fiscal quarter are run
ning well ahead of the same per
iod last year, Charles F. Myers,
Jr., president, said here tixlay.
Speaking at the annual meet
ing of shareholders, Mr. Myers
said "sales since the firsl of Jan
uary are about 16 per cent ahead
of this time last year, and our
order backlog Is also greater. We
expect that sales and earnings
in the present March quai ter will
be well in line with December
quarter results.”
Outlining efforts to seek new
business opportunities, he cited
the expansion of Burlington op-'
orations abroad in market areas,
which are growing in size and
purchasing power. He noted that
Burlington’s offer to acquire a
majority of the outstanding stock
of Schappe A. G., a company
headquartered in Basle, Switzer
land, “has been successful.”
Schap plants are located in
France, Germany, Spain, Switzer
land, Sweden and the United
Kingdom, and manufacture spun
and texturized yarns, knit goods
and other textile products.
“With these operations and
our other international plants,"
Mr. Myers staled, "vve are In
good position to expand sales
abroad. Our international financ
ing subsidiary, Burlington Inter
national, Inc., has Just complet
ed the sale in Europe of a .51) mil
lion Swiss Fraiii- ($11.5 million)
bond issue. ’Phese 5L> ix'r cent
bonds have a 15-year maturity
and were sold at par to non-U..S.
investors."
Capital expenditures for plant
modernization and expansion for
the past three years have totalerl
$.330 million, Mr. Myers said, and
will enable Burlington to benefit
from the growing demand for
textile products. At pre.seni, he
adder!, production facilities are
operating at about 95 per cent of
capacity, and the Company plans
to spend an e.stinialed $125 mil
lion this year for further plant
and equipment improvements.
He\iewing llu- Company’s pei-
formance in its fiisl fiscal (luai-
ler ended December 30, he noted
that sales increased 16 jier cent
ovr-r the .same (|uarler last year,
leaching a record quarterly high
of $392 million. .Xiet earnings in-
ensased 21 per cent to $20 mil
lion or 79 cents per share.
■Mr. .My<>r.s commented that
"while timre are many unknowns
here and abroad which can at
feet the general economy in ItMl.'s.
the outlook for textiles an<l for
Burlington in particular a])-
pears to be good in the peiiod
immediately ahead. ’
The Burlington chief executive
pointed out that fundamental de
mand factors for textiles during
the next three to five .vears indi
cate excellent growth pot<'nlial.
The.se factors, h<‘ said, include
rapid increases in the young adult
segment of the population, new
household formations and a
growing desire for belter apparel
and home furnishings.
ON DEAN'S LIST |
.Miss Judy Morris, Kings
•Mountain junior at the Univer- |
sity of North Carolintt at Chap ■
el Hill, was listed on dean's list
for the- semc'ster. Miss Morris
is daughter of .Mr. and .Mrs. F.
O. Morris.
"In line with this outlook," .Mr
M.vers said, "we iM'liexc that re
search and <le\<‘lopment will play
an increasingly important role in
our bu.siness. We are expanding
our research staff and the scope
of research investigations.”
Page 3
Barnes Assigned
To Company D
gui NllO.N', VIEIWA.VI (AH’r-
NCi Army Private Donald By
ers, 19, .son of Mrs. Maggie By
ers, Route 1, Kings .Mountain, N.
C., was assigned as a construc
tion woiker in the ,sith Engineer
Battalion’s Company D near Qul
Nhon, Vietnam, Jan. 26.
HeraW Want-Ads
Get Results
ANNOUNCEMENT
The annual meeting of the stock holders of
KINGS MOUNTAIN SAVINGS AND LOAN AS
SOCIATION, will be held at the office of the asso
ciation at 2:00 P.M. February 13, 1968.
Executive Vice President
JOSEPH R. SMITH
YOUR CLOTHES CAN
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LOOK LOVELIER
It's a fact. Dry cleaning
makes clothes last up to
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Martinizing, your clothes
get personal care that
restores them like new.
0
0
S«7EAST
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'739.5844
HOUR /
’mmizm.
IthemoitiaDiiYaanme
"SPECIAL"
MON. - TUES.
<S WED.
LADIES' or MEN'S 2-PIECE
SUITS ea. 8Sc
LADIES' PLAIN
DRESSES.
ea. 85c
V
EVERY DAY SPECIAL
C II I R T C LAUNDERED
W n i n 1 0 CRISP & BRIGHT
FOLDED OR
ON HANGERS
"SPECIAL"
MON. - TUES.
& WED.
HVeHAOE'S WEST VA. SEMI-BONELESS .. 5-Lb. Avs. HoIvm
COOKED HAM ... a 69/
READY TO BAKE OR FRY , . . SLICED
SMOKED PICNICS - 39/
RUDY'S FARM WHOLE HOG. . SO Free Stomps Per Pkg.
SAUSAGE PATTIES'^ 59/
IMcRICO "BUTTER-ME-NOT" (With Honey 2 cm 4U)
CAN BISCUITS..229/
DELICIOUS
PINKY PIG FRANKS Sk 49/
PALMETTO FARM . .,
PIMENTO CHEESE ^ 39/
PALMETTO FARM...
HAM SALAD....ts49/
PINKY PIG SLICED
BACON
W-D PULLY BONE CUT FRYER
BREAST . ..." 59/
W-O FRYER
LEGS : » 43/
W-D FRYER
LIVERS . . .. : w 58/
W-D FRYER
BACKS10/
W-D FRYER
THIGHS .... lb. 43/
W-D FRY'R
WINGS ....: X
RIB CHOPS
^89^
LOIR CHOPS
99^
r U.
W-D LEAN VEAL
PAniES
OVEN READY i5-6-Lb. Avg.)
LEQ-O-LAKSB
SQUARE CUT IAMB
Shoulder Roast
“39^
Limit 5. ArrovY or 4 AJok widi $5.00 or More Order
REG. er COLD WATER ARROW
Detergent 5-^1 4-^1
Limit 1 of Your Oioice with a $5.00 or More Order SOUJI MI^^LE V^P
Mayonnaise«39^ - 49^^
ASTOR VEGETABLE..Limit 1 with a $5.00 or More Order
Shortening - 59^
Lirriifl of Your Choice with a $5.00 or More Order ASTOR
Coffee -59^
MAXWELL HOUSE
49^
ARROW
BLUE BAY
THRIFTY MAID
vrklN er AneftH Cebn
CHUNK
Cneai er vriielB Kenol
TOWELS
TUNA
CORN
ROLL
n 6Vi-n. $a
CANS 1
ML No. 303$ t
^ CANS 1
THXirrY AHAID (»CEN
LIMA BEANS
No. 303$
I CANS
1
ASTOR FRUIT
4X CION STAMPS
S' l-ez. ycBiuH AONOt
Cold Creom
VOID APTCN rcD. 17
Cocktail.. 4»*1
ASTOR CHOICE SLICED OR HALVES _
Peaches 3-89^
•. 13 -
CHEK CANNED
JX GMtN STAMPS
MCOIUM HONDt
Dry Skin Creent
VOID APTtH PCD. 17
IM GtEIN STAMPS
Fre^ Steit
VOID APTR* FED. ST
=X.TrB»/V
Jm CCIIN STAMPS
DIXIE DARUN6 SANDWICH
1V4-U.
LOAVES
M-LI. .
VIHT-YU IA6S )
U. S. No. 1 WHITE
POTATOES
59c
i«iEx.nrRA
IM Cltm STAMPS
VOLUME 2 DIDLR ■TOUT
Librory Book
VOID AFTCD rca. 17
LB.
iVent-Vu
BAG
brand U.S.D.
A. INSPECTED
i M*.MrTHWT4TT«T.tmMi».uiTwiine
0 Ait^inttmT luisnuTiB
BSaiXEVBUMES
BUY A VOKJHU UCH WRR-^ BIIONGS M IVTUY KOMI
SEE COUPON BELOW FOR FREE STAMPS!
SAVE 34e
RIGHT
GUARD
deodorant
4-OZ. CAN
Me
EX-TRA.
4X CeMM STAMPS
Void after
Feb. 17, 1968
:« GRADE "A" URGE FALMETTO FAMl \
EGGS... 2-79'
CRISP, FIRM
oust MttOlh
OUST RED WINBUr
LETTUCE
cEisr
APPLES
2i=39^
5^69^
JUICY FLORIDA
ORANGES .5^497
FROZEN FOODS
THRIFTY MAID
Ice Milk .. .^39^
MORT(3N*S BEEF, CHICKEN, TURKEY, MEAT LOAF, SALISBURY STEMI 1^' _
Meat Dinners
PARKER BLUEBERRY, STRAWBERRY OR *
Cherry Pie 2-79$
TASTE 0* SEA ™
Perch Fillet.. »^39/
FROZEN CRINKLE CUT
Potatoes-79^ 3-^1
DIXIE THRIFTY FLORIDA
Orange Jce. 6 - 99^
y