The National Outlook
Potpourri On The Business Trend
By Ralph Robey
Three items of the past few
days are significant to everybody
interested in the current busi
ness trend.
1. Industrial Production, as
measured by the seasonally cor
rected index of the Federal Re
serve Board, suffered another,
drop in February. This index
uses 1947-49 as equal to 100. In
February 1958 it was 130 as com
pared with 133 in January 1958
and the high point of 147 in De
cember, 1956. This is a drop of
about 12 per cent. In the two
previous post-war recessions of
1949 and 1953-54, the decline was
a shade over 10 per cent.
Today’s decline, of course, is
not evenly distributed through
out the production field. Pri
mary metals, at 34 per cent,
the greatest fall since 1956.
Metal fabricating, which includes
automobile production, is down
16 per cent. Next in order is
coal, down 15 per cent. Then
clay, glass, and lumber, which
are down 11 per cent, followed
by rubber and leather down 10
per cent. Durables as a whole
are off 18 per cent from Decem
ber, 1956 and non-durables 4 per
cent.
2. Required reserves of mem
ber commercial banks were re
; duced another one-half of one
! percentage point by the Federal
, Reserve Board, the second move
; of this kind made by the Fed
. eral Reserve in the past few
weeks. This move provides the
jnember banks an estimated $490
tnillion of reserves, against which
they could lend about $ billion.
* It is presumed, just as it was
m the first reduction, that the
jyimary reason for the move is
tft facilitate U. S. Treasury bor
rowing a few weeks hence.
Needless to say it also put the
commercial banks in a position to
; bei somewhat more lenient in
■ thefjr loan policies. Not too much
jis expected in that direction,
however, because of the alreadv
i easy, reserve position of the
member banks.
3. Consumer prices as of mid-
February reached a new high.
The index, which also uses 1947-
as equal to 100, was 122.5 as
compared with 122.3 in January.
This index started up in March,
]§s6, and there has been onlv
one month since when it showed
a decline. That was in August.
1956 and the drop was two-tenths
of one point. In two other
months during this two year pe
riod the index held steady. Oth
er than that, it has shown a
slow, gradual increase.
Wish the current increase the
index is about 3 per cent above
a year ago and almost 7 per cent
above February, 1956.
The immediate cause of the
continued rise, in the face of
slipping business and employ
ment is, primarily, the weather.
Because of this, according to
Ew|»n Clague, Commissioner of
Labor Statistics, the prices of
various foods increased, and since
food makes up about one-third
of the index, this lifted the over
all figure. Medical and personal
care also increased in cost, but
their combined total was less
jt fnwiiG®
(W) |£ At the 1957 International Safety
\ L : and Performance Trials at Day
mjgMflksLgW, ’ \V/ tone Beach, Pure-Premium
'Til - IEI .s* Y'l powered 30 cars to record per
joflßHttißlvi £*{ (Site ! T-| i I forma nee. This brings the total
PyLi In JrjL \ | number of re<x>rds set by Pure
-4,® W Premium to over 240 —more
T records than any other gasoline,
Xf Hkjl Jfr 'J Get record performance in
•~jf .;™V your car too. Come in for a tenk-
JLm Mfc—* ful of Pure-Premium. It's the
gasoline proved by performance
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No- mere tkoa ever, ym coat* s*re with PURI
than that for food alone.
Whether this is a more or less
permanent top for consumer pric
es is anyone’s guess. Mr. Clague,
who probably knows as much
about the behavior of this index
as anyone, refuses to commit
himself. His comment is that he
does not see much on the down
side in the next few months. In
the 1949 and 1953-54 recessions
consumer prices declined fairly
steadily.
A development of a quite dif
ferent character on the business
front was an editorial a few
days ago in the New York Times.
It is not unusual for the Times
to have editorials on economic
events, but it is not customary
for them to use such discussions
as the lead article on the edi
torial page. Yet that is what
was done in this instance.' The |
immediate reason for the edi- 1
torial was President Eisenhow
er’s comment some weeks ago
that March would “mark the be
ginning of the end of the re
cession,” and the Times was re
viewing the statistics to see how
the prediction is working out.
In the course of this it was said:
“It is difficult to escape the im
pression that this month is, thus
r ar at least, forming an eco
homic plateau, showing neither
drastic improvement nor sharp
further decline.” The conclud- 1
ing sentence was: “We can 1
hardly blame the President and 1
his advisers if they feel that an
economic policy they are walk-1
ing the thinnest of high wires.”
Both of the quoted sentences
reach as far toward optimism as
possible on the basis of current
statistics. This does not meart,
as we said last week, that we
are headed into a depression but
there is no convincing evidence
as yet that we have reached the
bottom of this readjustment.
Livestock Depends On
Production Os Corn
Corn is a dual purpose crop.
And despite the thinking of
quite a few Tar Heels, “white
lightning” isn’t one of them.
John C. Rice, director of the
N. C. Crop Improvement Associa
tion, points out that corn can be
as a cash crop or fed to live- 1
stock. As for the latter, he feels
that continued growth of the
state’s livestock industry is large
ly dependent upon the ability of
North Carolina farmers to pro
duce corn.
Rise points out that demand for
livestock is on the increase. But
the state can’t expand its hog,
beef cattle or poultry production |
on a sound basis without provid
ing ample supply of feed. And
corn is one of the best sources
of livestock feed.
In urging North Carolina farm
ers to increase corn production in
1958, Rice emphasizes that ad
verse weather conditions in the
fall of 1957 resulted in consider
ably fewer acres being planted in
small grain. This acreage, plus
acres normally planted in corn
and additional idle acres in East
ern North Carolina, means there’s
THE CHOWAN HERALD, EDENTON. NORTH CAROLINA, THURSDAY APRIL 3. 1958.
A BIT OF FARM HISTORY— This scale model of a farm
threshing machine is the result of more than a thousand hours
of loving labor by Stone Church, 111., farmer Adolph Doelling.
Each part was handmade in his rural blacksmith shop. The
model develops three horsepower on the flywheel and is self
propelled, fired by coal. Doelling said he built it so that today's
youngsters could see type of machine their grandfathers used.
plenty of room to expand.
And Rice believes that since
North Carolina farmers have
generally had experience grow-:
ing com, they wouldn’t be run-;
ning as great a risk growing,
corn as they would growing a
crop with which they have had
no experience. /
If you plant corn, which kind
should you plant? Rice says> it
shou'd be a certified first gen-,
eration seed, which he I
says, normally produces 20 per
cent more grain than open-pol
linated or second generation hy
brid seed. Certified hybrids al
so have stronger stalks, greater
weevil resistance, drought resist
ance and lower ear placement.
j Weekly Devotional!
Column
| Bt JAMES MacRKNZIK | j
Earth’s most hallowed
are those which hold the remains
of her departed great. We visit
the tomb of Washington, or Lin
coln, Napoleon or Wellington, and
we stand in reverence as we face
the fact that the glory of this
world soon passes.
Yet there was One whom the
tomb could not hold captive.
There is one tomb without a ten
ant. Some nineteen hundred
years ago the body of the incar
nate God was placed in a cave,
and the cave was sealed. To con
tain Him there the Roman gov
i ernor detailed a group of soldiers
to keep watch over IJis dead
body. The psalmist had said, “If
I ascend up into heaven, thou art
there; if I make my bed in hell,
behold, thou art there. If I take
the wings of the morning and
dwell in the uttermost parts of
the sea; even there shall thy hand
lead me, and thy right hand shall
me” (Psalm 139:8-10). But
foolish Roman soldiers, your
selves long since gone and forgot
ten, you thought to shut God up
in a s'mall cave, and keep Him i
there! The heaven of heavens.
could not contain Him, but you]
would hold Him secure in a cave! '
The story j)s familiar; to us all { |
and I need not repeat it here..
But this past week as I read it I
again, and wondered again at the'
audacity of the Roman and Jew
ish authorities in their impotent
attempts to prevent the Resurrec-
tion, it struck me that we today
are often guilty of the same sin.
For example, you have gone
• through the motions of receiving
! Christ in your heart; now He
' seeks to live through your life,
j your acts, your words, the places
' you go, your influence upon oth
(ers. This He seeks, but you
would keep Him buried, where no
one can see Him. You want Je
sus to live within you, but not
| through you. In effect you say
to Him, “I am willing to take the
salvation you offer, the pardon
for sins, the promise of future
glory; I am willing to take the
peace and comfort to be found in
the indwelling Christ, the bless
ings; the joy; But Don’t You Dare
Meddle With My Life.” You seek
Him as Saviour, but not as Lord;
, failing to realize that there can
Ibe no salvation apart from sur
render to Christ as Lord and
. King. Your heart is the tomb in
j which you would contain the liv
ing God.
To many, the local church is a
tomb for Christ. Once a week
they come to visit Him there, and
spend an hour or two in His pres
ence, but when they leave they
do not invite Him to be with
them through the week. “God is
all right in His place, but His
place is in church. Let Him keep
out of my business, my weekday
living. I pray to God on Sun
day, let me prey on my neigh
bors during the week.”
But this is the Easter season.
May God grant it be the time we
seek not to bury Christ, but to
let Him live through our lives.
Vegetable* R^auir# 1
Favorable Location
Gardeners, like actors, can
waste a lot of time and energy
on a poor plot—and the results
will be equally disappointing.
No matter how good the seeds
vou buy, nor how much time and
care you give them, they won’t
, grow into fine vegetables unless
' they are planted in a reasonably
j favorable location, says Albert
Banadyga, horticultural special
| ist for the N. C. Agricultural Ex-
I tension' Serf ite! ’ " ‘' • -
Os course the ideal place would
,be a level, well-drained, sunny
spot with rich, deep, friable san
dy loam soil, free from rocks and
debris. Most suburban gardeners
have to make do with something
less than this. But there are a
few important things that every
gardener should look for in plan
ning the location of a garden
plot.
One of the most important is
good drainage. Vegetable plants
—and most others except special
ly-adapted aquatic species—will
drown if allowed to stand too
long in water, or really wet soil.
Too much moisture in a badly
drained area deprives plant roots
of air and nutrients needed for
healthy development. Prospec
tive gardeners, therefore, would
do well to observe the drainage
of a spot for awhile before tum
j ing it into a vegetable garden,
suggests Banadyga. Presence of
a green scum on the soil scrface
is one indication of excessive
wetness.
Another important ingredient
for garden success is an open
snace with plenty of sunshine.
Direct sunlight for at least six
hours a .dav is a must for leafy
crops like lettuce, collards, spin
ach, chard, and kale. Others like
tomatoes, eggnlant, peppers, and
Tima beans will need more than
that. Trees not only give shade,
but their roots compete for mois
ture and nutrients.
One more important considera
tion in choosing a location is a
source of water supplv. A gar
den hose or a few lengths of tem
porary pining will afford protec
tion against the -not infreouent
summer droughts that can cut a
garden’s production to practical
lv nil.
Generally speaking, a soil that
is Well drained and produces a
rank, quick growth of weeds or
grass can probably be developed
60 - SECOND mm
SERMONS mm
- By- ■■■■]
l-RED DODD P gHBPjfl
Text: “Trifling people are con
cerned with trifles”.—Eff Thomas
The conceited young man didn’t
feel that his companion was
bowled over by his personality.
He smoothed back his hair and
asked,
“At least you’ll have to admit
that you've been out with worse
looking fellows than I-am, haven't
you?”
The girl did not reply.
“I said,” he repeated, “you’ve
been out with worse-looking fel
lows than I am, haven’t you?”
“I heard you the first time,” his
date replied. “I’m trying to
think.”
Expanded Farm
Loan Program
Is Announced
An expanded farm housing loan
program designed to speed up
construction and improvement as
well as act as an additional anti
recession measure is announced
by Williah H. Perry, Jr., local
Farmers Home Administration
county supervisor.
Now an owner of a farm in ag
ricultural production and on
which the operator plans to pro
duce at least S4OO worth of farm
commodities for sale or home use
may qualify for the 4 per cent
long-term housing loan provided
that he meets other standard eli
gibility requirements.
Formerly, an eligible applicant
had to own a farm that produced
a more substantia] part of the op
erator’s annual ca’sh income.
Borrowers may use loan funds
to build, or repair farm houses
or other essential farm buildings,
and to provide water for farm
stead and household use. Mr.
Home For Sale!
LOCATED CYPRESS ROAD
Opposite Westover Heights
Three bedrooms, paneled den, living
room, kitchen with dining area and
bath. Hot-air duct heating system.
House is insulated, storm windows
and garage. Large lot.
OWNED RY EMMETT DALE
Contact Rudolph Dale
Phone 3123 or 3064
I low first cost? ,
Bill HQSiiiib
i ill 6 -7 0 -15 ■■#7.lo-15
/ (/} / / jfj} ■ TUBE TYPE | H TUBE-TYPE
fllfilySxP/ *H PLUS TAX AND YOUR ""READABLE TIRE
bonus mileage?
lllli S IC4O"IQ6O
*/ j //J || 1 6 70-15 111 6.70-15
a, fw I tuse-ttpe B w tmuhj
Plus TAX AND Youll * ET<t * OABL t TIRt
•.y.v.w.VAW.vv.r.w:•••■
GRIPS AND GOES
KELLY EXPLOREJI winter tire
GUARANTEED $0.20 •
. «N?i3ctpHMPn j
miss stums co ' :
West Eden Street Edenton, N. C. <
PHONES: Edenton 2688—Elizabeth Citv 7813
No man, aware of the ages and
the sages who peopled them, can
be conceited. Conceit is small
ness screaming for attention, de
manding to be taken seriously.
A conceited man must build his
conceit on trifles. There is noth
ing else about which to be con
ceited.
The most devastating bl-ow that
can be delivered to a conceited
person is to refuse to take him
i seriously. His greatest fear is
that you will not believe his high
regard for himself. You can rid
yourself of a conceited man
quickly and forever, with laugh
ter. Either he will lose his con
ceit or he will lose you.
Perry said that in addition to fi
nancing major construction, the
loan funds can help meet many
other needs for farm and farm
home modernization such as add
ing bathrooms, utility rooms, bet
ter kitchens, and many other im
provements to the home as well
as to farm service buildings.
While tenants and farm laborers
are not eligible, the owner may
borrow to do construction work
or make improvements for them.
The loans are made to farm
B
y°U
fcntlst* n; "wMiferldF .
“best I’ve cm used” ...
“Wat teeth pass* «t the Martel*
owners who need credit to fi
nance building improvements or
repairs, but find that adequate
credit is not available through
banks or other regular credit
channels. The interest rate is 4
per cent and loans may be amor
tized over periods up to 33 years.
Hardest
It was a tavern where a newly
arrived commercial traveler was
holding forth. “I’ll bet anyone
five dollars,” he said, “that I
have got the hardest name of any
one in this room.”
An old farmer in the back
ground shifted his feet to a
warmer part of the fender.
“Ye will, will ye?” he drawled,
“Well, 111 take ye on. I’ll bet
ye ten ’gainst your five that my
name’ll beat yours.”
“Done,” cried the commercial
traveler, “I’ve got the hardest
name in the country. It is
Stone.”
The old man took a chew of
I|| I New Telephone Di rectory \
I Going To Pr ess
1 !
|| Please check your listings in the current directory 1
| to make sure they are correct. If you wish any I
jf change made, notify our business office nmv.
While checking your present listings, why not also I
i consider extra listings. If your business deals with a f
¥ variety of services or products extra listings can J>
prove very valuable! |
Our business office will gladly give you informa
tion on this lmv-cost. high-convenience service. f
J
Any Changes Desired Must Be Given To I
Us Before Noon, Saturday, April 28th. \
f
The Norfolk and Carolina i
«
Telephone and Telegraph Co. j
Lots For Sale!
DIRECT FROM OWNER
Size 100 x 2!0 Feel
LOCATION: Across from Pine Grove
Terrace on Highway 17 North, 2 Miles
from Edenton.
PRICE *700.00 EACH
For Further liifoi niutioii Sn or Write
C. A. BATTON
40 Richmond Drive Buekroe Beach, Va.
Phone Hampton, Va. —35668
PUBLIC SALE
Saturday, April 26 ll A. M. |
at
J. H. ASBEKE HOMEPLACE j
ON HIGHWAY 32
10 MILES NORTH OF EI)ENTON j
i
THE FOLLOWING ITEMS WILL BE SOLD
FOR CASH TO THE HIGHEST BIDDER:
1 hand saw; 1 jointer; 1 lathe; 1 hand drill; 1 lot of |
shafting, pullies and belts; 1 grindstone and emery wheel; |
1 electric bench drill; 1 electric hand drill; 1 boxing $
machine; 1 power wood saw; 1 gas engine; 1 set pipe !
(dies); 1 lot cart wheel spokes; 1 lot cart wheel rims; !
1 lot handles; 1 lot cart boarding; 1 rope block; 1 set !
• blacksmith tools, forge, 2 anvils and hammers; 1)/- -inch !
• auger; 2-inch auger; 1 lot chisels; 5 screw clamps; 3 !
• braces; 1 lot bits and gimlets; 1 set hollow augers; 1 lot !
• iron squares; 1 lot bolt cutters; 5 drawing knives; 4 !
; braces; 2 spoke shaves; 5 drawing knives; 1 lot hand 1
; saws; 1 lot hammers and hatchets; 1 hand truck; bolt !
; cutters; 1 lot wrenches; 1 lot bolts; 1 garden tractor, 1
; complete; 1 lot oak timber and many other items too !
• numerous to mention. 3
| MRS. MARY T. ASBELL i
Administratrix of J. H. AsbeH Estate
■ .... .
PAGE FIVE
I—SECTION TW it
his tobacco. “Mine,” he said, “is
Harder.”
Recipe for Communism: Let
the rich get richer and the poor
get poorer.
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A<] No. 118-41 lines 5