Newspapers / The Chowan Herald (Edenton, … / July 2, 1959, edition 1 / Page 3
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Land Boom lifts Worth Os Farms To New Record Valuation of Agricul tural Plant Boosted By 30 Billion Dollars Since 1954 The latent boom in farm real estate has rounded out its fifth year of uninterrupted advance, boosting the valuation of the agricultural plant (land and buildings) by S3O bullions since 1954 to a record sl2s' billions on March 1 this year, according to the U. S. Department of Agricul ture. The rise in the year to last March alone was just under $9 billions, the figures show, or close to a third of the aggregate five year increase. With farm ers owning about S7O billions more in other assets in thb form of cadh or its equivalent, crop and livestock inventories, ma chinery, etc., the worth of the nation’s agricultural establish ment is nefw only a few 1 billions short of the S2OO billion mark. As against this, total farm debt is currently estimated at about $22 billions, or little more- than 10 per cent of the combined as sets. , * Factors Behind Rise A significant force behlhd the persistent demand for farmland from nonfarmers as well as farmers has been the strength of the inflationary psychology which has characterized soj much of economic thinking in recent years. Along with this has been the continued pressure for en largement of existing farms to take advantage of mechanization and other technological advances , in agriculture. ' The impact of these two fac tors has been supplemented by the growth in Government ex penditures under agricultural programs, largely in price sup port operations. Total Federal spending under these programs is estimated at a record high of $6% billions in the 1959 fiscal year which ended on jlune 30, over two and one-half times the total in 1954 when the current land boom got underway. Right now ag'riculfural expenditures are the thircUtfMgg'eSt item in the Federal budget. As a result,' traditional rela tionships between farm income and land valuations have been ignored in rebent years. 'Farm income has been in a downtrend in the majority of yelars in the, current decade, dropping 27 per cent from 1951 through 1957. Though there was a recovery in 1958, a decline is expected this year. Y Debt Also Rises An interesting aspect Os the rise in agricultural borrowings in 1958 was the new high estab lished in farm mortgage debt, es timated at $11.2 billions at the beginning of this year. This was the first time farm "mortgage debt had exceeded the previous high of SIO.B billions, establish ed three and a half decades ago in 1923. By contrast, other forms of debt, public as well as private, have been setting new highs regularly year after year for a number of years. With non-real-estate debt ris ing also and caSh assets show ing little change, farmers as a wHole lost a little more liquidity in 1958. Current indications are that farmers’ financial assets in it - • 11 • Notice of Meeting of Chowan County Commissioners At the request of a member of the Board of Commissioners, a meeting of the Chowan County Commission ers is called for 9 o’clock A. M., on Friday, July 3, 1959, at the Court House in N. C , ' There will bt no meeting on Mon day, July 6, due to the observance of the Fourth of July. Ml This June 25| 1959. J W. £. BOND | CHAIRMAN > I i MOTHER OF YEAR-Shown in her judicial robes is this year’s Mother of the Year, the Hon. Jennie Loitman Barron, a judge of the superior court of Massachusetts. Mrs. Barron, of Brookline, Mass., is the mother at three children. cash or its equivalent amounted to about 83 cents for every dol lar of debt at the end of 1958. The comparable ratio at the be ginning of the Fifties was $1.28 in cash or equivalent for every dollar • owed, while in 1946 the ratio was as high as $1.87 a dol lar. However, the current rela tionship is still far above what it was at the start of 1940, when fanners in the aggregate had only 42 cents in cash for every dollar they owed. Band Parents To Meet On July Bth There will be a meeting of the Edenton Junior - Senior High School Band Parents Association Wednesday evening, July 8, at 8 o’clock in the band room. Mrs. Margaret Bunch, outgoing presi dent, and Mrs. Kathleen Skiles, incoming president, urge all par ents to be present. New officers for the 1959-60 year will be in stalled. All parents who have not re turned their envelopes received last week from the band director are requested to do so at this meeting or before. It is im perative the Band Parents bud get be balanced by this meeting. Spring Pig Crop Is Largest On Record 4- • North Carolina’s 1959 spring pig crop was the largest of rec ord, according to the June Pig Crop Report released by the North Carolina Crop Reporting Service. Pigs saved from spring farrowings (Dec. 1, 1958-June 1, 1959) -amounted to 1,605,000, which was 329,000 or 26 per cent above the previous record spring crop of 1,276,000 produced in ’SB. Sows farrowing this spring total ed 226,000 Which was 22 per cent above the 185,000 farrowing in the spring of 1958. Pigs saved per litter at 7.1 was also a rec ord for the State, the previous high being 7.0 per Jitter saved in the spring of 1957. ) FOR YOUR COOL SUMMER HAIR STYLES PHONE 2281 AifrConditioned Una Whit* and Dot Davis ■ UNA’S Beauty Nook 812 N. Broad St. Edenton THE CHQWAR HgHALD. EDCTTOW. WORTH CAItOLHTA. TWOMOAT JULY 2, 1958. Blff@ for {kini’iffiir} I | j jr Lean First Cut V V Harrell’s DHR If PHOPQ FR « S ib3g« 1 | KINGAN'S WESTERN T-BONE AND SIRLOIN GRAND FOR OUTDOOR COOKING! TOP QUALITY LUTER'S B H ft ■■ M/M \ * jamestown sliced II 1 I ■ft ft ftf 111 Emm Si. .•*>. STEAKS 69 I ournimi 9 u u n „ r resh select butterball n. CAROLINA 1 *" fresh lean western SMOKED 3-lb. bag nAD T r Turkeys m., PREMIUM pDAIT M D . _ PII f% K 011 l 11)11) I OTC»VC REEF Sausage 79c LIVER »>•«* 1 JL LJ\r%SD Center slices williams' p| Mm I lb.R5 C lb- •§& C Pork Brains 35c Ib.OT, SSb^sl | % fl (ft ,40 6,000 Certificates Distributed Each Week! riVtsi 1 served! | I Npw Certificates for June Now Available! J I—House 46-oz DelM. P’applel ■ Pillsbury’s or Ballard’s 3 cans jj f App i e can Grapefruit ran I ■BISCUITS —S C I SATURDAY, JULY 4th Sauce \3c Drink 29 c | B —^—————^l^—^^ 7a-i i w I 12-OZ. CUDAHY'S PINTS DUKE'S ■ W ■ No. 1 Tall 16-ox. Armour's Corned Mild WlSCOnSin I . - - CAT All | /*\l TT A ft |Toniah can Beef can * TANG DRESSING I ULJIO 1 |Salmon 43c Ha5h,...39c __ j /\ | J^| frrr^ —rrrnr - 4) can zijv j ar yuc roll £fj£| ■Kidney can Chocolate jar lb. BS V Trl ■Beans ... 9c Syrup... 49c \ t-v - —- 9 60/80 HUDSON 303 DELMONTE . \ W ISaAflLetLTytjGAiu ’ JNAPKINS yjFV JUNE l| VeQetab&A Lg-lOe \4P EAS ‘ jf / pfj—j Local Fancy Local New White 20 25 LB . average Georgia J —J -—~l HButter Beans Potatoes Breaded AhOT pJjk- | Is i 29c to i 29c i“! ■■—■—, ~ .. —'TTr i [,ulanv P k £- Cake 89c Wf | Large South Carolina ea £j' Gmliflouer 25c ; /// W fl [Cantalopes 23 c | Jlr Hcream F10ur......! Miracle Ai<f 39c N °" 3 ° 3 Red G ‘° r^T^ro-7 m | IImmKT T Evaporated ™ J I Mackerel... 23c « fl * % J iB4 tall 60c|N^r..-..2 p oe can 1Z c h iyc I KJ-PJ I I SAVE 41/W ‘ Gt ‘ Bremner 2 ~ lb ' pkg | v7S lon your jt/O FIG BARS 39 c | i(h- |gTj| M I GROCERIES * ii * | iM Wk. fl CAKE of the week 100 Bayer bottle | REGULAR 59c VALUE Angel Food P ure Lard • market | m | inc. I i ll j| ft ■ ||* m Home Owned Home Operated g llTtfl \Sn each TIC lU> At# 1 EDENTON, N. C. PAGE THREE I—SECTION ONE
The Chowan Herald (Edenton, N.C.)
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July 2, 1959, edition 1
3
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