MORE INWBWU.S HAVE OWN HOME
ffIOWIH If SAWHGSIS Bt FACTOR
One of the striking recent develop
ments in American life, with wide
spread economic and social implica
tions, has been the marked increase!
over the last two decades in the num-' <
her of individuals, as distinct from
family groups, who are maintaining
their own homes.
The family, of course, is still the
predominant home-maker in this
country, as it has always been, and
in 1963 mad up seven out of every
eight households, However, while
family formation is increasing, fig
ures compiled by the U. S. Bureau of
the Census show that there were more
than six million primary individuals,
as they are termed, who headed their,
own households last year, either liv
ing alone or with persons not related ,
to them. They were predominantly
middle-aged or older.
Rate Os .Growth High
The current number of primary in
dividuals living on their own is more
than two and one-half times as many '
as in 1930, and well over half again '
as many as in 1940. These rates of
gain are substantially greater than
those for family groups (called prim- .
ary families) heading their own
households between those years.
A number of factors are responsible
for this development. The rapid rise .
in the nation’s population over recent
years, especially among the older age j
TOMORROW 1
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Camp's Jewelers i
EDENTON, N. C.
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EDENTON, NORTH CAROLINA
groups, has been one influence. The
primary factor, however, has been eco
nomic—the broadening of. job oppor
tunities with the growth of the econ
omy, the general rise in income levels
throughout the working population, <
and the spectacular rise in personal
savings and in retirement funds which
are now distributed more widely
among the people at large than ever
before.
Essentially, therefore, it is the eco
nomic element which has been giving
more and more individuals, of all ages,
the means to assert their traditional 1
American independence and to live on
their own if they so desire. The fig
ures show that millions have taken 1
I advantage of this over the last two
decades. <
Importance Os Savings
There are no conclusive figures on
how many persons are living in whole, 1
or in part, on past savings. How- '
ever, there is little doubt that savings
and pensions and income from life in- >
surance policies are playing an in- 1
creasing part in helping individuals '
to maintain their own homes, particu-1'
larly among the older groups.
One indication of this is provided >
by life insurance figures. These show <
that living benefit payments to policy- i
holders in the United States exceeded 1 1
$2.5 billions in 1953, a new record
high and close to a billion dollars <
more than in 1940. These living i
benefits represent’ well over half of
all life insurance benefit payments. It ■
is significant to note,, too, that life in
surance annuity payments crossed the :
S4OO-million mark for the first time <
last year. Thip total is more than i
two and one-half times the 1940
figure. <
Private retirement funds have also 1
grown rapidly in recent years. Ac- 1
cording to the latest estimates, in- j
sured and non-insured plans now cov- <
er well over 10 million persons, and <
have reserves of approximately S2O
billions. Combined with Social Se
curity, these private pension funds <
will provide an increasing number of
older people with independent incomes s
as time goes on.
Economic Effects Noted <
As for savings in general, the Fed- <
eral Home Loan Bank Board esti- 1
mates that a total of $206 billions had 1
been accumulated by the end of 1953 1
in life insurance and other long-term s
thrift mediums alone, nearly three 1
and one-half times the comparable 1
figure for such savings in 1940.
The marked increase in individuals J
maintaining their own home has had j
an important stimulating influence on
the economy as well. It has been a
factor in the continued high level of |
residential building since the end of|
World War TI, and the size of the | j
market for furnishings, radio and TV | (
sets, and all the other things needed' ]
for a home.
The Census Bureau has compiled i
some interesting data regarding the ’
characteristics of primary individuals [j
living on their own. By age groups, j
42 per cent of these 6.1 million prim- 5
ary individuals in 1953 were between .
45 and 64 years old. Another 37 per
cent more between 20 and 45.
The figures also show that more
than a quarter of these primary indi
viduals were single, and that nearly
three-quarters of the others were
widowed. About three out of every
four lived in uiban areas.
A name is a kind of face whereby
i.ne is known. ' —Fuller.
TBS CHOWAN HERALD, EDENTON. N. n UKBDAT, MAY 27, 1954.
Veteran Home Loan j
Appraisals Increase I
Loan Guaranty Activity
Swamping VA Reg
ional Offices
I . i
Veterans Administration received 1
GI home loan appraisal requests for
72,990 proposed and existing homes
during April, a 76 percent increase
over April, 1953.
April was the third straight month
VA appraisal activity has shown a
sharp increase. VA said this indi
cated that World War II and post-
Korea veterans are finding it easier
to obtain GI housing at reasonable
credit terms.
Builders, lenders and veterans re
quest VA to determine the reasonable
values of proposed or existing homes
before selling the homes or submit
ting loans applications for VA guar
anty.
Os the 72,990 proposed and exist
ing homes for which appraisal re
quests were received during April,
42.928 covered proposed dwelling
! units, an increase of 95 percent over
April, 1953. During the past three
months, VA received appraisal re
quests for 113,836 proposed units, an
increase of 79 percent over the same
.period in 1953.
As for existing homes, VA made
30,062 assignments to fee appraisers,
a 55 percent increase over April,
1953, and the highest since August,
1950. During the past three months,
VA has made 75.784 appraisal as
signments on existing homes, an in
crease of 35 percent over the cor
responding period of 1953.
The surge in appraisal activity
over the past three months is just be
ginning .to be felt in the number of
loan applications received. During
April VA received 34,103 home loan
applications for guaranty, an increase
of 27 percent over April, 1953.
Loan applications are submitted to
VA by lenders, who are making the;
GI loans to veterans.
The sudden increase in loan guar
anty activity is literally swamping
VA regional offices in most sections
of the country. VA requests the co
operation of veterans, builders and
lenders in the face of unprecedented
workloads. VA asked that telephone
and personal inquiries concerning the
status of appraisals and loan applies-.
tions be held to the absolute mini
mum. ,
Sludgers Will Play
Carolina Dodgers On
Sunday Afternoon j
I The Edenton Sluggers, local colored!
baseball team, are scheduled to meet
the Carolina Dodgers of Durham on
.Hicks Field Sunday afternoon. The
[game will begin at 2:45 o’clock.
The Sluggers defeated the New
| York Blue Socks at Winton Sunday
Iby a score of 4-3. They have won
four and lost two games thus far this 1
season. ‘ <
I LAST CHANCE!! I
I TO ATTEND COMMUNITY I
AUCTION
I Friday and Saturday At 7:30 P.M. I
I AMERICAN LEGION HUT I
I ROUTE 17 SOUTH —EDENTON, N.C. I
I Due to other interests this is the last Auction Sale I will conduct at the Legion Hut this I
Summer. I sincerely appreciate your past attendance and hope to see you all here for this -
I Sale. Be sure to come ... Following is a partial list of items to be sold:
I 400 Aluminum Window Screens, 8 Rolls Galvanized Screen Wire, 5 H.P. Outboard Motor, 3 H.P. Evinrude Motor, GE Elec- H
trie Dishwasher, y 2 -ipch Electric Drill, Hot Point Electric Ironer, Clothes Hampers, Easy Washing Machine, Metal Ironing ■
B Board, Sectional Bookcase, Hassocks, Hickory Electric Broilers and Rotisseries, 20 Gallons Inside Wall Paint, Shoes, Chairs, B
1 Antique Love Seat and Chair, 18 Summer Rugs, Shovels, Wood Chisels, Hand Saws, Garden Hose, Power Mowers, Flashlights, ■
B Ladies’ Slips, Dresses, 50-foot Steep Taps, 18-inch Pipe Wrenches, Lawn Fertilizer Spreader, Towels, Dish Towels, 6,8, 10-inch 1
B Adjustable Wrenches, Towe Sets, Straw Hats, Work Jackets, Aluminum Tea Sets, 50-foot Drop Cords, Table Cloths, Tooth H
B Paste, Electric Mixers, Vise, Hammers and Hatchets, Fishing Rods, Lines and Plugs, Box End Wrench Sets, Kitchen Ranges, B
fl Bicycle, End Tables, Rinse Tubs, Pop-Up Toasters, Shotguns, Wardrobe Trunk, Simons Crosscut Saws, etc. S
I Last Two Nights Last Two Nights I
I Friday and Saturday fpP Friday and Saturday I
I COL. ROBERT [Bob] SHEA, Auctiorteer I
;pl§g^
In olden days, the highways
were traveled by brave men called
knights. They rode from city to city
carrying messages of great value
to kings and on errands of com
merce. But they were also trained
in many other things like first-aid
and life-saving.
In our days, the new “Knights”
of the road are the men who drive
our trucks and trailers . . . their
deeds of mercy are a million-fold.
Their list of heroes grows daily.
Hero are just two stories:
Frank McClaren of Clinton,
lowa, saw two private cars side
swipe ahead of him on the high
way. McLaren halted his truck
trailer, waded knee-deep in the icy
adjoining canal to rescue the
drowning woman thrown there ...
then with the help of other truck j
drivers freed two children still in j
the auto wreck.
On a bitter-cold night 17 years
ago Martin Larson of St. Paul was
on a Wisconsin highway with a
full load of gasoline aboard his
truck-transport. Suddenly he saw a
flash off the highway ahead. He
stopped his truck on the road
shoulder and then, braving flames •
and hot metal, he pulled a man
and his wife from the burning
wreckage. After more help came
Larson went on his way—remain- ,
i ing unidentified for his brave deed ,
for 10 years until a telephone op- i
erator remembered his name.
Chowan In RuraT
Progress Contest
Favorable Opinion Ex
pressed at Workers’
Council Meeting
Chowan County is entered in “The
County of the Year in Rural Progress”
contest for 1954. At a recent meeting
of the County Agricultural Workers’
Council a county progress program
was briefly explained and the rules
of the contest outlined. The idea was
discussed and very favorable opinion
was expressed. The group voted to
have Chowan County participate.
The method of approach is to be
along four main channels. Each com
munity carry out at least one com
munity improvement project. Each
family strive to make at least one im
provement in the home Each farmer
employ at least one recommended
farm practice that he lias not been fol
lowing. To strive to have every boy
and girl of 4-H club age actively en
rolled in 4-H club work and every rur
al high school student actively enroll
ed in vocational agricultural or home
economics.
“These goals are simple but if ac
complished will add up to a whole lot,”
says County Agent C. W. Overman.
“We urge every farm family to plan
now and work toward these goals.”
WORLD GOLD AND EXCHANGE
RESERVES NOW AT PEAK
World gold and foreign exchange
reserves outside the Iron Curtain
reached a new record high of $56.7
billions at the end of 1953, more than
double the equivalent total before
World War II in 1938, according to
the International Monetary Fund.
Nearly $8 billions of this total is
CANDIDATE FOR OFFICE OF
CLERK OF SUPERIOR COURT
A native of Chowan County.
A college graduate.
Qualified by legal education, training and experience.
Son of veteran of World War I.
£ A veteran of World War 11.
A veteran of the Korean conflict.
YOUR VOTE AND SUPPORT WILL BE
SINCERELY APPRECIATED.
William S. Privott
SECTION ONE—’
held by the Monetary Fund alone, an
agency set up after World War II to
aid economic rehabilitation abroad by
short-term assistance in meeting cur
rency exchange problems.
United States gold holdings at the
end of 1963 were just about $22 bil
lions, or approximately 40 per cent of
the free world gold and foreign ex
change total. This, however, is a
smaller proportion than in 1938, when
U. S. gold holdings represented more
than half of the world gold and for
eign exchange total, and indicates a
strengthening in international eco
nomies.
Ray Rogerson Is New
Student Body Head
Ray Rogerson, who will be a senior
at the Edenton Junior-Senior High
School at the next term, last week
was elected president of the Student
Body for the year 1954-55. He was
president of the freshmen class and
this year he was vice president of the
student body.
Wayne Keeter, in a close contest,
won out as vice president. He also
served as president of the freshmen
class.
Every violation of truth is a stab
at the health of human society.
—Emerson.
Page Three