L—SECTION CUE
PAGE SIX
Savers Set Record In Number
And Proportion Os Population
The number of savers in the
United States has risen to a rec
ord high both in number and in
proportion of the population, evi-j
dencing the deep hold of thrift;
on the people and the growing po
tential te save made possible by
the big growth in average person- 1
al income levels in recent years.
Right now, for example, five
out of every eight persons in the
population are protected by life,
insurance which includes a sav- 1
ings element, a significantly larg- 1
er proportion than was the case j
as recently as 1950. In addition!
large segments of the population I
have savings accounts, U. S. Sav-1
ings Bonds, etc. A majority of
American families have more than
one form of savings. I
While voluntaril v protecting,
themselves and their dependents
against economic hazards and,
saving or the future, the people]
have built up one of the great!
driving forces in the economy in
the ; r thrift institutions. It is the
people’s savings in these institu
tions that have become a major
course of capital and investment
funds in recent years for busines 1 '
and industrv, home owners, and
Government, contributing greatlv
both to the growth of the eoon
omv and to the rise in livin'*
standards. Last vear. for exam
pip. funds made available to th
canital marVot. from thp va.r'n’"'
savings institutions represented
50 op rpent of thp vear’s total de
mond for credit and invostmpnt
funds, accordm" to estimate
made hv the Life Insurance As
sociation of America.
Furthermore, the rewards o'
thrift as measured bv the incom*
yielded by private and Dubbc oro
tection programs comb ned ha**
become one of the great stabiliz
ers in the economv. In 1957 thes
pmorsms, led hv life insuran*-
benefit payments, contribute
more than 525 billions to the na
tion’s income s'ream.
Policyholders Set Record
Here is how the leading form
of personal thrift stack up:
The number of policyholders i
campus talk about
The Bells Are Ringing
. . . 4 *Back To School^
Evening Dresses
legal reserve life insurance com
panies rose to a record 109 mil
lion at the end of 1957, or 63
per cent of the entire popula
tion, making life insurance the
nation's No. 1 thrift medium. The
comparable number in 1950 was
88 million policyholders, or 57
per cent of the population. Sav
ings accumulated by policyhold
ers behind their life insurance
policies came to $82.2 billions at
the 1957 year-end. up nearly $29
bullions since the end of 1950.
■These figures are distinct from
life insurance protection in force,
which amounted to $458.4 bil
lions at the beginning of this
vear. In add'tion to the policy
holders of legal reserve com
panies there are also 12 million
persons who are covered only by
seme other form of life insur
ance.
The number .of time depositors
in mutual savings and commercial
banks combined came to an esti
mated 74Vz million at the end
of last year, or 43 per cent of the
oopulation, as compared with 64
million,' or 42 per cent in 1950.
Savings deposits were $85.4 bil
lions at the end of 1957-vear-end
against $55.2 billions at the end
>f 1950.
An estimated 40 million per-
Calvert JA
reserve
WHISKEY
CALVERT BIST. CO»M.Y. C. • 86 PROOF *85% MAIN NEUTRAL SPIRITS • BLENDED WHISKEY
ions, or 23 per cent of the popu
lation, owned $48.2 .billions oL
U. S. Savings Bonds at the end
of last year. There were an esti
mated 21.1 million members or
investors in savings and loan as
• sociations at the end of 1957, prac-,
\ t'cally double the number in,
j 1950. with the ; r proportion of th°l
j population increasing from 7 to
12 per cent in the per ; od. Sav- j
: ngs in these associations were!
, $42 billions at the 1957 year-end
j v'-rsus <l4 bilUons at the end of j
1950. The number of credit union j
• members was estimated at 10 mil
lion at the end of 1957, more than j
•double the 1950 number, with|
1 assets of these institutions rising,
from S9OO milbons to $3.4 b.l- 1
• lions in the period.
Retirement Plans
In the pension and retirement
| field, there were over 17.5 active
and retired workers covered by
j insured and non-insured pro
, grams, with more than $34.5 bil- j
, lions of assets and reserves ac
| cumulated behind these plans at
the ed of last year. The number j
of workers covered by Govern
ment-sponsored programs other,
than OASl—Railroad, Federal
Civilian, and State and Local Em
ployees retirement programs—
added up to about 7*A million at
1 the end of 1957, with some $24
billions in funds behind those
( plans.
• At the year-end investors in
open-end mutual companies num
THE CHOWAN HERALD, EDENTON. NORTH CAROLINA. THURSDAY AUGUST 21. IMS.
bered 3.1 million and the assets of
these companies were reported at
$8 T billions. The last survey by
the New York Stock Exchange
reports the number of stockhold
ers in American business corpor
ations at 10 million, the highest
yet reported.
David T. Bateman
Will Join Edenton
Feed & Livestock Co.
- t
Effective September 1, David T.
aßteman, son of Mr. and It :.
Bateman, son of Mr. and Mrs.
be associated with the Edenton
Feed & Livestock Company.
David is a graduate of Chowan
High School and has had around
SHOP PHTHISIC S
lowest prices
HIGH QUALITY FOOD
Many reasons all add up to low prices on Quality Food at Phthisic’s,
including economical store operations plus our buyers’ maity years J
experience in food retailing in tli3 community. )
3-Lb. Pkg. Toppin’s 1 -LB. PKG. NANSEMOND SLICED
“ BACON lb. 6lc
hausage - ■ ■ -
LEAN TENDER CENTER CUT
BAG} v \
79c PorkChopsib61 c
I-LB. PKG. HARRELL’S 12’s BREMNER’S C.F.CV
pure gr’’"
t A |3pv P ies 47c
larVJ\ I M J 2 * LB - princess creme
__ fL' HOME OhOWN ' FANCY BOX
*7SWEET 3 Lbs. Home Urown Lb. l • A
- C Potatoes.... 29c Ok r a 25c C/OOKieS 4oc
JJI_ Consistent Great Values In 303 WHITE HOUSE
mmmmi A PP i e s ause
OLEO 2 • 17c 2 cans 27C
Turkey Pie. 25-‘. CWEpread 169 c
16-OZ. MINUTE MAID I^OZ^JBBY^" 1 ™™ 11 OWCcI T lCKieb
Strawberries ' 31c Corned Beef qt. jar 39c
2>/ 2 Heavy Syrup 303 To-day j. A1 (% Register For Drawing
Carolina Sweet Saturday night, aug. 23
11 ——— GE TABLE RADIO
PEACHES PEAS Marcal C « cktail Tidy House
2 CANS 2 CANS NAPKINS MgC BagS JooXrthOfGroeeries
ACkr% o*7 I I Os Your Choice
TTI7C C ‘ OC * t/C Register As Often As You Wish! ;
sunshine KrUpy lb. 25*s Qt. Plastic Plain or lodized . FULL IVI LBB - 6-oz. Maxwell House
2 C FREEZER BAGS Morton’s 2pkgs Bread23c Instant/Coffee
All 5-ceni 3 Plegs. O 1 ** 'i *, l . . H .
Gum.... 10c pkff. 52c Salt 25c 1-Lb. L0af,...... 16c | ar sl.ll
M 111 ... * x r O ~ FRIDAY AND SATURDAY J
Ftrietmann's Nut Fudge pkg Personal Six. 4 bars Bath Size 2 bars 363 Green ,Gi. 2 for 3-Lb. Golden can
Cookies.„ 45c 1v0ry.... 27c Dial 37c Peas..... 39c Fluffo.... 89c
12-oz. National ' pkg. Regular Biz. bar lVi Blue Bottle Lj, Liguid Dstwgnt na BmO'. t 2 for „
Ritz...... 27c Camay... 10c Karo .... 26c Pink Vel 36c Tissue.... 25c
Owned And Operated By Your Friends And Neighbors
T"- 11 " 1,1 " 1 _
PHTHKIf’<I SUPER MARKET, Inc,
■EL £1 A 1 kj 2D2 S.Broad Street PHONE 3331 Edenton,N. C
WE WIIX FILL ORDERS AND DELIVER FRIDAY AND. SATURDAY!
2% years work at N. C. State Col
lege. He is married to the for
mer Miss Faye Taylor of Eden
ton. They plan to move to Eden
ton around September Ist.
The Edenton Feed & Livestock
Company was established in 1952
by Earl G. Harrell who. will con
tinue to manage the business and
is engaged in the bltyirig of hogs
and farm products as well as the
selling of feed, seed, fertilizers
and farm supplies.
Haywood Jones, who has been
connected with the Edenton Feed
& Livestock Company since Jan
uary of 1953, is returning to his
old business, the Broad Street
Fish Market.
Camp Meeting
At Happy Home
August 21 so 31
i
The 34th annual Happy Home
Camp Meeting will be held at the
Hapipy Home Church in the up
per end of the county starting to
day (Thursday) and continuing
until Sunday, August 31.
Services will be held daily at
9 and 11 A. M., and 3 and 8
P. M„ with a youth service sched-,
uled each night at 7 o’clock. Spe
cial singing will also be arranged
every night.
The speaker for the meeting
will be Dr. O. T. Spence of Hope-1
well, Va. I
liL. ■ ' ’A"**-. iyv.
The pastor of the Church, the,
Rev. C. C. Chappell, announces
that there will be a special ser- !
. vice Monday night, August 25, at
j 7 o’clock by children of the Fal-1
1 con Children’s Home at Falcon,
N. C. Mr. Chappell extends a
cordial invitation to everybody to
attend any or all of the services.
Cancer Grouo Plans
To Educate Public
Continued from Pag. I—Section 1
' tions. I
The group also considered !
(forming a loan closet. This is a
; phase of cancer work . through
I which tnany items are stored fdr
I use of cancer patients. It in- 1
1 , etudes ■" • many items such"" ss" 1
i sheets'*-for bandages, crutcheg, - *
sheets, pjj»
low ease^: 1 Jewels, bed pans,J btR
I ins, Sva'kers, hospital ' beds and*
other things need d for patievnt* '
which they might not have.~
Mrs;.Tyson was very much en*
couraged with the interest of
local 'committee and offered her .
j as: istance in any way in ■ con-o
--n ction w : t h’.he Chowan Chap
ter organization or in the an
nual cancer drive which w ll ,h 4
held durin the month of ApriL
| Present, at Friday nigbtla:
meeting were Mrs. Tyson; * Dr,
Frank Wood; Mrs. J. D. Elliott,
Mrs. Logan Elliott, Mrs. L. As
Patterson; James Bond and.,J„.
'Edwin’Bufflap.