Newspapers / The Chowan Herald (Edenton, … / Oct. 1, 1959, edition 1 / Page 10
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PAGE TWO h-BFCTION TWO I The National Outlook How Serious is The Interest Rate Ceiling? | By Ralph Robey . gmuch of a problem does nited States Government S a result of the failure tgress to lift, or remove, 4 percent ceiling op its obligations of five or more years’ maturity? One answer is that the problem is serious ersoue'h to cause consideration of calling a special session of the Cong;ess. But there is more to it than that. When Secretary of the T eas- Ury Anderson orginally testified before the House Ways and Means Committee, he p. inied out that since March 1942 there has been legal authority for of : sering bonds at a discount. That is the Treasury legally can of fer obligations with a 4Vt per ■ cent coupon at whatever price l is necessary’ in order to meet current market interest rates. However, according to the Sec- l JlJll.iiiiifl HEATING GIL • automatic delivery service | CALL 2319 Harrell Oil Co. ! West Water Street li ihepatented^ HK lljlp W iMmi 1| § Tfcii PLOOSS than ever before! The revolutionarj’, new Siegler sends the air right i through the heart of the fire twice to give you a houseful of amazing SUPER Floor Heat! Here’s real furnace comfort in every room, without costly . pipes and registers to install. You save the high cost of wasting heat on the ceilings and out the because Siegler’s patented Inner Heat Tubes and built-in Blower system pours all tho heat over your floors. Don’t make the mistake of buying a heater without Inner Heat Tubes or a built-in Blower system. Every Siegler Homo Heater has them. That’s why a Siegler pays for itself with the fuel it saves. And only Siegler gives \ SmiJfEraSl youa v “"‘* '’**'****'**' *n*w W¥4#|W| MONEY BACK GUARANTEE OIL HOME'HEATER m * W"% m m ■ XKe u* ■ ■_ ■ ■ Jr % ■ .t retary, the Treasury h's not thought it appropriate to get around the ceiling m this man ner. Time For Re-appraisal? Is the Treasury correct in tak ing this attitude or is it being a bit stiff-becked? What would be the effect of the United States offering obligations of more than five years’ maturity at a di - ■count? Finally, should the ceil ing be circufvented in this man ner, or would it be better to call back the Congress and try again to get the 44 percent limit lifted? As to the first of these ques tions, the Treasury was not merely being stubborn in its ini tial decision not to offer bonds at a discount. It was the fi naneially honorable course to ask for a removal of the ceiling. And at the time there was every reason to assume that this re quest would be granted. With the advantage of hind-sight it is easy to conclude that it would have been better not to be so determined in opposition to of fering bonds at a discount, but it is too late to change the earlier action. As to the effect of offering United States obligations at a discount, the answer is that some of the opponents of high er interest rates might raise the question of whether such action is not contrary to the intent of Related In name and good looks—the new • COMPACT CORVAIR and CHEVROLET '' ~ .. , - . * Sy> -■ - -. v . ■ ■ j„ pPL^i A strong family resemblance between the all* new Corvair and Chevrolet’s conventional line of passenger cars for 1960 is evident in this unusual profile view. At 180 inches, however, the Corvair is more than two and orie-hatf feet shorter, while its 108-inch wheelbase compares with 119 on the Impala Sport Sedan with which it appears. the Congress. If that conten tion were upheld, the Treasury would be in a real mess. ■ | If this argument was not made, one could feel sure that there would .have been no real | effect of such a discount offer j ing. Canada a short time ago ! offered bonds of less than two | years’ maturity at 94.65. These were 3 percent obligations and at this price they give a yield iof 6.61 percent. This is not tak en a9 evidence that Canada is on the verge of a financial crisis; • ■ • ,- v - THE CHOWAN HERALD. EDEKTOM. NORTH CAROLINA. THURSDAY. OCTOBER 1, 1959. and the same would have been’ true in this country, at least it would have been before the Treasury announced it would not circumvent the veiling in this way. Rates j luctuate Whether a special session of the Congress should be called is fairly easy to answer. If it were 1 called and the ceiling was re moved, it is unthinkable that a long term bond would be issued at present rates. Within the next, say, ten years we shall see lower interest rates, and no one as responsible as Secretary Anderson would consider obli gating the United States Gov ernment to pay 5 percent or higher for a long period into the future. Having lost the initial attempt to get the ceiling removed, and having publicly announced that it would not offer bonds at a discount, the Treasury has no real choice but to continue to rely on obligations of less than five years’ maturity, upon which there is no ceiling. Miss Inez Feltpn Dies After Brief Illness Miss Inez Felton died Satur day morning at 10:45 o’clock in Chowan Hospital after an ill ness of only a week. She was a native of Colerain but lived in Edenton about 30 y.ejrs, Shg Plagued Day And Nightwithßladder Discomfort? Unwise eating or drinking may be a source of mild, but annoying bladder irritations making you feel restless, tense, and uncomfortable. And if rest less nights, with nagging backache, headache or muscular aches and pains due to over-exertion, strain or emotional upset, are adding to your misery—don’t wait try Doan’s Pills. Doan’s Pills act 3 ways for speedy relief. I—Theyl—They have a soothing effect m bladder irritations. 2 A fast pain relieving action on nagging backache, headaches, muscular aches and pains. 3—A wonderfully mild diuretic action thru the kidneys, tending to increase the output of the 15 miles of kidney tubes. So, get the same happy relief millions have enjoyed for over 60 years. New, large economy size saves money. Get Doan’s Pills today 1 # Doan s Pills VVVVV^ nXd>^o p® if what car New 1959 Larks 6 or 8-cylinder motors. Stand ard or automatic transmission. All body styles and colors. '56 CHEVROLET V-8 Belair Hardtop Sport Coupe '56 CHEVROLET 4-dr. sedan Clean. '54 CHEVROLET 4-dr. sedan '54 CHEVROLET 2-dr. sedan '53 CHEVROLET Belair 2-dr. '53 CHEVROLET Belair 4-dr. ‘53 FORD Customliae 4-dx. '53 PLYMOUTH Cranbrook 4-dr. sedan 49 PONTIAC 4-dr. sedan '49 PONTIAC Convertible WK PAY TOP MARKET PRICES FOB GOOD tBXD CARS'. ÜB.fotorCo, WEST QUEEN STREET Elegance and chassis ttKnmmta characterize the larger Chevrolet! in an offering of 16 pas- ' senger models. Tlie Corvair introduces an array , of compact mechanical innovations designed to : provide the riding and driving qualities demanded by the American buyer. The Corvair and conven- \ tional model will be in dealer showrooms Oct. 2. V was the daughter of the late William B. and Elizabeth Fel ton. Miss Felton was. prominently identified with the Edenton IjjjH ft < ” , ' BP n H bp . WSm? - 1 ■4§l™ 1 Wm BP - v s M ■ ■ . Kp Jm 'I sci A He u a— wmm mm m H I»~ t+ m m taak jHHge sh < ok,, m 0 *' Mi " » %'• ' - . fijgHL . ■ a " -am |» . Mkku Ji HL II i W ■ Slifi ff l iMgkjs I ■ P ■ ijißnß * i- L ta , , WMMM9MMM ""MBifcfe, imSP'|iffllHlrrlfflYli 1 " I M wr I sk /vß| B «I|WPiPiSiBMi |k a I i WM II w vfl I HJfv *■'*' > YOU MEAN J. CQULD SAVE A THOUSAND DOLLARS? We do. And we say so because so many of our every-day de positors save that much and more. How do l go about it? Start with a small sum, say $5. Then deposit regularly. • ; v v ; How long will it take? $5 a veek will do it in less than four years; $lO a week in less than two, and so pn with compound interest from us shortening the time still further. So Waste No Time. Save With Us! More people sayp ut th«m as other place. ~ ~ tNl^EiSE^r SAVINGS DICPAHTMENT t c - i A Savings Account Tot Jay At • *k. ! Accounts I L .IfflFJ? ■iij im ’ll A W V '' ,> -m s Business and Pi ■ofessional Wo men’s Club and the Edenton Baptist Church, where she was a member of the Ota Lea Circle of <be Missioneiy Society. Surviving are two sisters, Mrs. Lyn Byrum and Mrs. G. W. Barker, both of Edenton. Funeral services were held at the Baptist Church Monday morning at 11 o’clock. The pas tor, the Rev. R. N. Carroll, of ficiated and burial was in Beaver J3UI Cemetery. Pallbearers were West Leary, J. H. Conger, Sr., West Byrum, Jr., Shirley Barke, Billy Hollo man and Winrioh Holloman. As to people saying a few id|e words about us, we must noit mind that any more than the old church steeple minds ■the rooks cawing about it. —George Eliot. SOLVE'CROSSWORD PUZZLE: WIN CASH PRIZE Like to solve tricky crossword puzzles? Test yourself .in the puzzle that offers a cash pr : ze for correct solutions. See The Sunday Ameridart Jackpot Cross word puzzle, with clues and word list every Sunday in THE BALTIMORE AMERICAN on sale at your local newsdealer ' « *’ S? v, '• • • J '. AMERICA'S GREATEST BASIC HOME VALUES Creative Custom Line Homes • Quality Built -r Anywhere • Built On Your Own Lot • A complete finished home on the outside can be built j as low as $995 to $2595 cash. l V . %ip. '■* , -• ~'*■’ • < • Immediate Financing —No red tape. Up to 72 months to pay as low as $30.86 ppr month pay only SI.OO down. < . < For More Information See or Call at 125’ W. Cateret Street ■ PHONE 3052 CREATIVE DOME CORPORATION Authorized Representative A. V. Slade i £'£&i±.v.-y-; y.i ; »« >0 mm aim gg .., , -.-1,,- Sit _ U-Lr\JT^T-nJ-j-u-|jn_|T^. THY A HERALD classified ad
The Chowan Herald (Edenton, N.C.)
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Oct. 1, 1959, edition 1
10
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