Billions In Gold Is
Hoarded Outside Os
The United States
Vast Store of Idle Money
In World Plagued By
Shortage for Trade
Purposes
A significant commentary on the
course of international economic and
political events over the last decade
and the wide-spread uncertainty
abroad about the future is provided
by the record magnitude of gold and
currency hoarding outside of the Unit
ed States.
A recent analysis, by the ißank For
International Settlements places the
total of private gold hoards in various
parts of the world (such ownership
is forbidden by law in the 'United
States) at approximately sll billions.
Tins figure excludes all the yellow
metal estimated to have gone into
industrial uses over the years. In
addition, hoarding of American cur
rency abroad is known to have in
creased greatly in recent years, with
the total amount of dollars now held
by various nationals outside the Unit
ed States estimated at several bil
lions.
Magnitude and Implications
A yardstick of what the hoarding
figures mean is found in the fact
that private foreign gold hoards alone
are as great as the official gold re
serves of all the 'Governments in the
world outside the United States and
Russia, estimated at $10.6 billions as
of the end of last September. Os
equal importance is the fact that ag
gregate gold and dollar hoards are
substantially greater than the entire
American direct investment abroad,
recently placed at sll.B billions by the
U. S. Department of Commerce.
The paradox is that there is such
a vast store of idle and unproductive
money in a world plagued by a short
age of dollars for trade purposes and
by a great need of investment capital
for modernization of production and
for helping underdeveloped areas to
realize their potentialities. Hie sit
uation thus lends added weight to ef
forts now under way seeking to re
store economic and currency stability
abroad and to put th© world trade
back on a sound basis. Given more
political stability as well, such a
program would help to restore confi
dence and bring hoarded money out
rp~" »»^/Wa—flfrtnlWHWO I
NOTICE!
TO THE PUBLIC
|f I
‘ «•« I
• f
a |
The “BLADES LUMBER COMPANY” has discontinued the op- I
f
eration of their Building Supply and have converted these assets
; i over to a more modern and efficient Saw Mill, Planing Mill, and '
Dry Kiln. *►
• ' “BLADES LUMBER COMPANY” has not, and will not discontin- ''
ue their operation as a lumber company. We are very much in the i 1
market for—
; LOGS AND ROUGH LUMBER j
>■ • \
, Z V .1 m * m . I! .
T
| Blades Lumber Co.
I _ PHONE 700 !
| 'i J: l
I North BroadSL Edenton, N. C. 4
f '' ' , . £|
V-2 INVADES NEW MEXICO ATMOSPHERE as the Army Initiates
Its V-2 firing program with reconstructed German supersonic mis
siles. Used primarily for upper atmosphere research, a V-2 rises
from a launching stand at White Sands, N. M., bound on a scientific
journey to gather facts from a relatively unknown world.
of hiding.
Another seeming contradiction is
that hoarding is most prevalent in
those parts of the world which have
the greatest need for investment
funds and productive capital. For ex
ample, the Bank For International
Settlements estimates that more than
half of all hoarded gold is in the
Orient, and that there is evidence of
hoarding in the Middle East, Latin
America and Africa as well. It like
wise reports that gold hoards in
France are variously estimated at $2
to $4 billions, while other sources
place French hoarding of American
currency in very large figures.
Big Rise After Korea
'An analysis of the gold hoarding
trend abroad sinCe the end of World
(War II shows that the greatest
amount occurred in 1951, reflecting
the events in Korea and their infla
tionary aftermath. In that year an
estimated 59 per cent of the known
world gold production disappeared in
to private hoards while only 15 per
cent was added to official gold re
serves. In the previous five years,
from 46 to 58 per cent of total annual
THE CHOWAN HERALD, EDENTON, N. CL THURSDAY FEBRUARY 19, 1968.
gold production had been added to
i official gold reserves yearly.
Four Errors Crop Up In
Belk-Tyler Advertising
Too late to be corrected in this
week’s issue of The Herald, four er
, rors were discovered in one of the
■ pages' of Belk-Tyler’s advertisements.
The errors are as fallows: Plastic
and bamboo place mats were listed at
SI.OO, which should have been 4 for
. SI.OO. Plaid and solid denim is priced
at SI.OO, wlnle the sale price is 2
yards for SI.OO. Irregular nylon hose
are listed at SI.OO, but the Dollar
Day special is 2 pairs for SI.OO. The
fourth error concerned broadcloth
shorts, listed at SI.OO, while this item
is selling during Dollar Days at 2
! pairs for SI.OO.
BIRTH ANNOUNCEMENT
Mr. and Mrs. Linwood E. Ward of
Conway, N. C., announce the birth of
a son in Chowan Hospital on Monday
morning, February 16.
fRTXT^HALDrciA^IFIED~AL
""" 1 '
Thatch-Byrum Vows bride’s pastor, the Rev. Bennie Craw- ing their home at Route 1, Edenton.
Spoken January 18th fort1 ’ officiating * Mrs. Byni m is a graduate of Per-
* y The bride wore a suit of white flan- q U iman s High School and is employed
The marriage of Miss Christine ne * with brown accessories and a cor- in the office >of Harrell Gas & Coal
, , . ~, j „ sage of red roses. * Co., Hertford. Mr. Byrum attended
Thatch, daughter of Mr. and Mrs. Mrg Waverly Hollowell, who wore Chowan High School and is now en-
Harry L. Thatch of Route 1, Hertford, a w ine suit with black accessories, gaged in farming and fishing.
and Robert Lee Byrum, Jr., son of was matron of honor. Waverly Hollo-
Mr. and Mrs. Robert Lee Byrum of well was the bridegroom’s best man. Let early education be a sort of
Route 1, Edenton, was solemnized Following the ceremony Mr. and amusement; you will then be better
Sunday, January 18, at 12 o’clock at Mrs. Byrum left for a trip to unaft- able to find out the natural bent,
the Bethel Baptist Church with the nounced points. They are now mak- —Plato.
The Herald Classified Ads
BAD BREATH LOSES FRIENDS.
Use breath-taking Olag Tooth Paste.
All drug stores.
lIAWN SUPPLIES WE HAVE
them —Peat Moss, Bon e Meal, Cot
ton Seed Meal, Lime, Sulphur,
FOR SALE GOOD LOCATION,
Creswell, N. 'C., 9-room house well
built of heart pine. Adaptable for
private home or conversion to apart
ments. Lot 22,525 square feet.
(Priced right for quick sale. Write
or call Jean C. Bateman, 1619 West
over Avenue, Norfolk, Va. Phone
28607. Febi19,26,Mar5,12c
WANTED TO BUY-CLEAN RAGS
Must be free of pin s and buttons.
Will pay 10c per pound. No scraps
or woolens. The Chowan Herald.
AMERICAN FlLßEßT—(Hazelnut)
Family favorite. Young bearer of
tasty, round nuts. Effective in the
shrub border or in hedges. Two 2
to 3 ft. Size—Offer No. 2-4—43.65,
Postpaid. 10 or more—Offer No.
2-24—51.60 each, postpaid. Write
for Free Copy 56-page Planting
Guide in color, offering complete
assortment Nut Trees, Fruit Trees.
Berry Plants, and Ornamental Plant
Material. Salespeople wanted.
Waynesboro Nurseries, Waynes
boro, Virginia. Feb 19
“wrwffir
SPARE TIME
Refilling and collecting money from
local route of VENDING MACHINES
for 50% of collections. NO SELLING.
Earnings up to $50.00 weekly, de
pending on spare tim© devoted to
route, and can be built up to full time
with $15,000.00 year income poten
tial. Must have car, references, and
$675.00 operating capital for inven
tory which is secured. For interview,
include phone and references in appli
cation. Box 165. ltpd
I Now On Display 1
THE NEW I
Farmall Super‘H’ 1
I * 4
Here’s the new Farmall Super H, recently announced by the In- [
< 1 ternational Harvester Company. It has 14% greater power and up ?
, ■ to 26% faster field speeds. Tests show that it has the power and L
speed to pull a standard three-furrow moldboard plow in most soil i
j conditions, plow up to 13 acres a day and cultivate up to 65 acres « f
with four-row equipment. A new valve-in-head engine and self
' 1 energizing, double-disc brakes head a list of 21 major improve- * ‘
~ ments in the new Super H. ( ,
THIS TRACTOR IS ON DISPLAY AT
; •'
i Byrum Implement & Truck Company <
• Edenton, North Carolina (
.m ft -JI-—-fr - —Jg ~\rTM I
FOR RENT—THREE-ROOM FURN
ished apartment. 206 South Oak
um Street. ltc
FOR SALE—I MODERN WALNUT
bedroom suite in good condition.
Mrs. D. M. Warren, phone 626.
Febl9,26c;
FOR RENT—THREE ROOMS NEAR
Macedonia Church. Kitchen and
living room privileges. Running
water and use of Frigidaire and
washing machine. Apply Mrs. fteo.
E. Hassell, Route 3, Box 197, Eden
ton, N. C. ltc I
W'E HAVE IN STOCK OR CAN GET
any type brooding equipment you!
may need in floor type, oil, gas or
electric. Large stock of infra-red
bulbs and brooders. Halsey Feed &
Seed Store. “The Checkerboard
Store.” tfc.
WANTED—WHY WORRY ABOUT
Athlete’s Foot, Boils, Bums, Itch,
Eczema, Impetigo, Pimples, Psorias
sis, Ringworm or any known skin
disease. Ask your druggist about
V-J-O. ExpFeb2o, 1954 pd
FOR SALE—TWO MIULES, WORK
anywhere. One Jersey Heifer, cow
and calf; one 2-row fertilizer sower;
one 2-row turn plow; one riding cul
tivator with disc attachment; one
horse-drawn stalk cutter. W. T.
Byrum, Ryland, N. C.
Febl9,26,Marspd
CABBAGE PLANTS'
Per 100 30c
Per 1,000 $2.50
Varieties: Early Jersey Wakefield,
Charleston Wakefield, Ferry’s Round
Dutch, Flat Dutch.
Onion Sets and heading Lettuce
Plants and Garden Seeds.
E. L. Pearce
Route 3, Edenton, N. C.
Phone: Rocky Hock 123
WANTED AT ONCE—RAIWLEIGH
Dealer for nearby locality in Cho
wan County. Write Rawleigh’s, De
partment NCB-310-F, Richmond,
Va. Febl2,l9,26Marspd
S3OO MONTHLY SPARE TIME
National company offers reliable
party secure future servicing route of
merchandise dispensing machines in
Edenton, North Carolina and sur
rounding area. No selling required.
S3OO per month possible part time, full
time more. Car and $695 cash re
quired which is secured by inventory.
This will stand strict investigation.
interview in your town with fac
tory representative, include phone and
address in application. UNITED
MFG., AGENCY, 5473 Deimar, St.
Louis 12, Mo. ltpd
l Grasses of all kinds, Crab Grass
) Killer, good ole Vigoro, the regular
and Azalea type, Sheep and Cattle
Manure, Bulbs. Large assortment
of flower and vegetable seeds (new
variety), a seed sower to loan. Hal
sey Feed & Seed Store. “The
Checkerboard Store.” tfc.
HOG KILLING NEEDS:
thing. Lard tins; salt, any size
bags; sugar cure; brine mixture;
brine guns; sausage seasoning; Sta-
Fresh for your lard; liquid smoke,
any size; skipper compound, good
old Chambers Brand. Ask your
neighbor. He uses our products.
Halsey Feed & Seed Store, “The
Checkerboard Store.”
WANTED TO RENT—FIVE-ROOM
house or a large downstairs apart
ment. Call Mrs. W. A. Sexton, Jr.,
phone 322-J. tfc
WANTED—MAN TO WORK HOUSE
to house premium candy routes in
this vicinity. (Must own car and
be able to finance himself for two
weeks. Company furnishes mer
chandise. Good pay for right man.
Must be sober and dependable. Ap
ply to Supreme Candy Company,
Dunn, N. C., Telephone 3494.
Feb5,12,19c
BENT A FLOOR SANDER, FLOOR
edger and floor polisher. New and
latest models. Now you can save
money by sanding and refinishing
your floors in one day. Edenton
Jan22,29,Feb5,12,19,26c
Furniture Company.
PAGE THREE