^ASE FOUR
THE KINGS MOUNTAIN HERALD. KINGS MOUNTAIN, N. C.
TRurs'day, Oe^eEar.
ACCENT ON AGRICULTURE
SACRIFICE
One of the quickest ways to
stifle farm income would be to
reduce agricultural exports.
Exports represent a significant
part of the total market for our
nation's agricultural production.
Today, almost one out of every
four acres of crraland is produc
ing something that is exported.
The United States has doubled its
agricultural exports in the past
15 years. Present y, the U., S. ac
counts for a fifth of world agri
cultural trade.
Yes, the loss of export markets
would make a major effect on our
farmer’s pocketbooks. Yet, Con
gress now has a bill before it
that could cause just that.
The bil] was not designed to
destroy or reduce our agricultural
exports, but rather, was introduc
ed for the purpose of cur 'ing the
flow of industrial products into
this country.
Some of our American indus
tries are having trouble meeting
world competition. Increased la
bor rates and generaj inflation
ary forces are to blame. So, in
order to help the situation, the
proposal before Congress would
reduce the level of imports com
ing into our country by billions
of dollars. Foreign countries con
fronted by major cutbacks in
their exports would have only
one choice; they would have to re
duce their imports from the Unit
ed States. Otherwise, they could
face a balance of payment crisis.
The result could well be that
they would stop htkying our agri
cultural products. We would be
sacfificing agriculture for more
favorable manufacturing indus
tries.
Want To
Our nation cannot afford a
trend toward protectionism at
home and abroad. Neither can we
sacrifice one segment of our econ
omy for another.
BUY?
SEU?
BENT?
HIRE?
THEY GET RESULTSI
Phane 739-5441
Tiy HERALD WANT ADS
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GOSPEL SINGERS — The Keller Family of Charlotte, N. C. will
be furnishing a special program of Gospel Music at the East
Gold Street Wesleyan church Sunday morning, October 8, begin
ning at 10 a.m. The interested public is invited to worship with,
the congregation.
Economy Up During August
Economic data for August con
tinues to confi.’i.m overall strength
and expansion in North Caro
lina’s economy amid a somewhat
mixed picture for the manufactur
ing sector.
The level of business activity
in the State increased by .2 of
icne percent during August, ac
cording to the Wachovia North
Carolina Business Index. The in
dex rose to la preliminany record
high level of 123.4 in relation to
its 1967 base period. The latest
rise in the index placed the over
all level of business activity in
the State 6.8 percent above its
mark of August, 1971.
The level of employment re
mained essentially stable during
the month, and the unemploy-
iment rate was unchanged at 3.3
percent. While there has been a
slight uioward drift in the State’s
unemplcyrnont rale fr. .ti a low
of 3.1 percent in -March, unem
ployment is still low and near
pie-1970 ife';essi-n levels ot 2.9
percent. Meanw.liile. the U. S. eco
nomy is experiencing a some
what highc-i rate m unemploy
ment—5.6 percent. In North Caro
lina, the business rcccvcry has
succeeded in reducing the level
of unemployment by nearly
25,000 persons cr 25 percent dur
ing the last year.
principally associated with a less
than noiimal seasonal increase in
tobacco employment in the non
durable goods sector. While chem-
ic'als, construction, and lurnfaer
jobs edged up during the month,
furniture, paper, and te.xtiles
showed decreases.
Mfinufacturing. employment,
while on an upward trend, has
reacted somewhat erratically in
recent months and drcipped by
nearly one percent during August I
on a seasonally adjusted basis.;
While decreases were felt in both;
durable and ncn-durable go:;lsj
sectors, the Augu.st decline was
Outside the manufacturing sec
tor, trade employment moved up
to a record high level after dis
playing sluggishness during the
first seven months of the year.
Services employment also reached
a record high and government
employment picked uip signifi
cantly with large numbers oi
teachers returning to work.
Total spending by individuals
and businesses, as measured by
the volume of debits 'by banks
to their demand deposit accounts,
rose to a record high of $10.1 (bil
lion on a seasonally adjusted
basis. This was a gain of 28 per
cent over a year ago and an
gain of 22 percent. The largest
(Cumulative year-to-year increas
es in spending were recorded in'
the Charlotte SM3A (plus 30 per-1
cent), and the Wilmington 3MSA
(plus 26 percent).
Construction activity in both
the residential and non-residen-
tial sectors (remained strong.
Buildin-g permits in 18 miajor!
North Carciina areas rose nearly |
30 percent over last month and j
13 percent on a cumulative year- ]
to-year basis. The permits reach- j
ed a record high monthly level of j
$73.9 million. There is .some evi-1
dence of a tapering off off activity |
in the residential sector, but a
record high number of (housing!
starts is still expected for 1972.
rfiSnlfiTotal cuiriulative
Theii Glowing Up Is Expensive
PREPARE NOW
Don't just worry. Plan ahead. Give your child a Sav
ings Account to grow up right along with hinn, cover
unforseen expenses, and provide for his education.
Start now. Savings Accounts from the 10th of the
^ month earn from the first. ,
HomeSavings & Loan
ASSOCIATION
106 E^t Mountain Sir eet — Free Parking
Continued strengthening of con
sumer confidence in the State
was evidenced by new car sales
which remained (near record lev
els.
The U. S. consumer price index i
rose jy only .2 of one percent dur- j
ing the month, posting a year-to-1
year gain of only 2.9 percent inl|
this metisure of consumer prices.!
In North Carolina, wage and spl-11
ary advances increased by eight! ‘
percent and continued to outpace
the rate of inflation by a comfort'-11
able margin.
While the pace of business
activity has been somewhat slow-11
er in manufacturing than In oth- j
er areas, the broad strength of I
the N;rth Carolina business ex- I
pansion continues to be portray
ed in the high levels for most all j
of the State’s major ecoonmic in-1
dlcators. There seems to be eon- jl
siderable evidence that the pulse j I
of the business expansion in thei|
State will tend to quicken during i
the fall months. Therefore, the I
outlook for further gains in activ
ity in the near term appears
quite promising.
Transco Declares
New Dividends
The hoard of directors of i
Transcontinental Gas Pine j ("e |
corporation today declared a 28-
cent per share dividend on tnel
common stock, payable Novem
ber 1, 1972, to shareholders of |
record on October 13, 1972.
The board at its meeting in ]
New York also dec’ared regular
dividends on the seven series of
preferred stock now outstanding:
$1.22 1-2 per share on the $4.90
preferred stock. I
$1.40 per share on the $5.60
preferred stock.
$1.31 1-2 per share on the
$5.26 preferred stock.
$1.25 per share on the $6.00
preferred stock.
$1.20 per share on the $4.801
prefererd stock.
1.68 1-4 per share on the $6.65 i
preferred sck. I
$2.58 per share o nthe $10.32 >
preferred stock. I
SAFE AS AMERICA
U S SAVINGS BONOS
FALL FOOTWEAR
FASHIONS
ORANGE ■ GOLD ■ BROWN • MULTI
NAVY ■ RED - BEIGE ■ MULTI
$11A9
ORANGE - GOLD • BROWN - MULTI
RED . YELLOW - NAVY - MULTI
BLACK OR BROWN
BROWN OR NAVY
$1199
Plonk Bros. Dept. Store