Newspapers / The Chowan Herald (Edenton, … / March 3, 1960, edition 1 / Page 14
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..... -:ik. _ - ■BCTION TWO PAGE SIX The National Outlook Behavior Os The Stock Market D.t UilßO D Well over ten million persons own, publicly-issued stocks of American corporations. Other millions indirectly own stocks through various forms of sav ings. To all of these, the recent behavior of the stock market has been of concern, and all of them are interested in whether she decline is going to con tinue. The measure most commonly used for stock prices is the ,Dow-Jones industrial average. This is not the best index of the market as a whole, but Dow- Jones is the only organization that reports each individual stock, transaction, and its tickers are found in brokerage offices from one end of the country to the other. The average is cal culated on an. hourly basis, for the high and low of the day and, of course, for the closing. Taking the latter, the high for this year, and for all time, was last January 5 at 685. Recently Ihe market has been flirting with 600. This is too much of a decline 1 to be shrugged off. In the old days it was said that anything up to a ten per cent declvte was a technical reaction. This has gone beyond the ten per | cent. No one ever can explain with positiveness what causes a mar ket decline or a market advance of significance. But unques-; tionably the following have had ; an influence: 1. Tiie market had attained' an extremely high level high j not only in relation to historical ■ standards, but high in relation | to ear.nings and the return one could receive from bonds. Even U. S. bonds were selling at i prices which returned a sub-, stantially higher yield than, one j got on good stocks. 2. Corporate profits were j headed up, but it could not be j assumed that they would go much higher. This meant that SOIL CONSERVATION NEWS By JAMES H. GRIFFIN. Soil Conservationist Don’t dig your ditch when the i spil is too wet. Now might be; the best time for you to dig the I ditch since the crops are out of! the field. But experience has j shown that ditches dug when the soil is full of water will not j last long. The sides of the ditch will cave in or the soil will * ooze out and fill the bottom of 1 the ditch. Wait until the soil ! has dried out, even if it’s sum- j mer before digging that new ditch. The same advice applies for installing tile, digging a pond or ( establishing a sod waterway. You cannot get a good job when ( the soil is full of water. It's tiue that you need the; drainage this spring but you i don’t need a sorry ditch when , a good one can be had for the , same price later. It’s not fair , on the contractors to expect ! them to give you a first-class job j when the soil is wet. An open j ditch of three loot bottom ends up four or five feet in wet I soil. The sides cave in and! COLERAIN RESIDENT DIES Lonnie W. Hughes, 76. of Colerain. died Monday morning I at 8:30 o’clock in the Bertie Memorial Hospital in Windsor after an illness of six months. Surviving are his wife. Mrs. I Pearl C. Hughes; a son, Lonnie West Hughes of Winston-Salem:, a daughter. Mrs. Kelly A Perry of Colerain: three brothers.* Claude Hughes of Edenton: Clayton Hughes of Aulander and Raymond Hughes of Charlotte: three sisters, Mrs. Lattie Har rell of Ahoskie, Mrs. N. J. Miller of Merry Hill and Mrs. Johnnie ■ f^i - *- 1 .“ B&| ™ B :>>>k ‘ I ■ j]j I RALPH E. PARRISH, INC. Phone 2421 “Tour Frigidaire Dealer” Edenton, N. C. : >'' . * i «*-?•.- >- -. - issL-.i* jy. J^--L^a:L&r:-.<^-'-.a»\i» . ; dividends would not be raised ! enough to lift the yield appre ■i c ab'y, and in many instances ; i there was no basis for hoping • | for any increase of dividends. 3. Many persons began to re : i vise downward their predictions j for both the extent and the j duration of the present reeov ! ery. And these revisions ap |pt ared to get support by a ' fairly continuous flow of news ■ that was not too favorable. 4. Foreign holders, who in ■ the aggregate own between $lO j billion and sls billion of Ameri : can securities, began a light liquidation and the market is ; thin enough to be adversely as : fected by such selling. 1 1 5. The fear of inflation has | subsided to a marked extent. (This fear had been a powerful | factor on the upside. Now. i with many investors of the ■ | opinion that inflation is not in evitable, theie is less urge to | * | hold stocks. j 6. In the minds of numerous I ■ persons, there is uncertainty! [ about the political situation and' | the recognition that the current | Congress may enact legislation i which will hurt business and I the growth of the economy, j with the danger that the next Congress may be even worse. How much farther will the decline go, and is there a chance of a real recovery? There is no j reason to assume that the de cline will continue either much j farther or much longer. We are ' not faced with a recession, and jwe certainly arc not faced with j a depression. This means that a recovery of stock prices, as measured by the Dow-Jones average, is inevit ! able. How soon it will start, .and whether it will go above j the old highs, are matters of | judgment.. My personal opinion j is that we shall see a new high. * j tut that will be some months 1 hence, and one must buy his stocks with utmost care. t water rushing down the ditch j ; silts up a foot, or more of your I i ditch before the contractor’ ! leaves the ditch, j Ask the advice of your neigh l bors who have dug ditches in | wet soils. All of them are say ! ing that they will wait for the ! soil to dry out. Let’s imagine a barrel full of I water. We bore a hole near ! the bottom and we notice the j water comes out fast and with 1 a lot of force. That’s because of the weight or pressure of the I water above the hole. Remem ber the barrel is full. I Now let’s imagine another bar | rel. Same size, but with just a | little water in it. Let’s bore I another hole, the same size, i same place as before. The • i water comes out, but this time j it takes its time, slow and easy ; Remember it doesn’t have as j much water above pushing. Feilows. let’s wait for the soil to dry out before starting to j dig ditches, ponds and installing ! tile. It will pay to wait. , Brantley of Colerain, and foul' giandchtldren. He was a member of the 1 Colerain Baptist Church, where funeral services were held Wed- I nesdsy afternoon at 3 o'clock, i The pastor, the Rev. P. T. Wor rell officiated and burial was i in Hillcrest Cemetery at Cole rain. CLUB MEETS MONDAY The Young Men and Women's Club will meet at Robin's Res taurant Monday night, March T, at 8 o’clock. At this meeting. ■ Fred A. Mangum, Extension -o .. '■ -K ■ •« a . w t i . _ __ _ MULtwinin va AVAAtfWt' rV*tffVMV% Ift V W IBM THE CHOWAN HERALD, EDSNTON. NORTH CAROLINA* TriuHSOAT* MARCH 3* IjWL. | New Announcer ) * -rr "> MW M* Hie majority of workers from Northeastern North Carolina commute to the Tidewater, but not Jim Freeman, who journeys each week-end to Edenton. The 24-year-old Freeman of Norfolk is a part time announcer for radio station WCDJ. His big j interest is to become a first {class announcer. Every time he j applied for a job he was told. • "You need to go to a small t station for experience.” } Experience is what he is get ting Saturday and Sundays from sunrise to sunset when he is disc jockey, news announcer and has even emceed a local March of Dimes telethon. He and his wife, the former Miss Peggy Duncan, are both natives of Marion. N. C.. and have lived in Norfolk since 1957, when he was discharged from the Navy. They have a four-year-old son. During the week Freeman is an apprentice at the Naval Air Sta tion Apprentice School in Elec tronics. His wife, who endors es his venture, is employed by the Southern Bunk of Virginia. farm management specialist, will discuss insurances for families and individuals. Some of the I points to be emphasized in his [ discussion are the four principal types of life insurance, when to buy life insurance, and some guides for buying life insur ance. Any who have questions about [ present insurances or what kind, to buy. are invited to attend 1 the YMW Club meeting and] [bring insurance problem ques-j I Lons. The only requirement for (joining the YMW Club is to be between the ages of 21 and 35 years and have an interest in j self and community improve- ] ment. and be willing to sup-! port such improvement ideas. I The inclination to lose a' friend rather than a joke should ! be far from us. I —Quintillian, j STRAIGHT BOURBON WHISKEY If JVT years // / A II 25 /# ■/ pint /I 1/ 1/J J3U 86 [ -Ml PROOF , 4 b QUART JAMES WALSH * CO. LAWRENCEBURG. KENTUCKY I— i | No Comment By JAMES W. DOUTHAT MalilMt Vice tIMMUI, Uaienmot gelation Divide* of the Natfoul Aneocietton el Manufacturer* NO COMMENT'* is a report ol incidents on the national scene, »_nd does not necessarily reflect iaM policy or position. Washington Far too few people in the United States rea lize that the Government’s in debtedness now totals nearly $750 billion. This startling information is being circulated far and wide by Maurice H. Stans, Director of the Budget Bureau, who urges a vigorous campaign against wasteful spending and for in creased fiscal responsibility. His picture of the Govern ment’s financial situation shows this: $290 billion—national debt, i $350 billion—futurd obligations for past services. $ 98 billion—commitments for future spending. $738 billion —total. This huge indebtedness is one cf the reasons why the con gressional economy bloc is urg ing a grass-roots uprising against unnecessary spending in an ef fort to ward off further infla tion and to increase the chances [for tax reform legislation. At the present time, Con j gross is acting on the Eisenhow j er Administration’s budget pro' . posals for the next fiscal yeai i starting on July 1. Spending I is estimated at $79.8 billion and revenue at SB4 billion. Economy advocates think that a substantial reduction can be made in the spending total with out injury to the defense pro gram or to any essential Gov ernment function. A $3,358 million cut in non military expenditures is advo cated by the National Associa tion of Manufacturers. An added reason for a cam paign for Government economy is the fact that the spending trend, unless effectively resisted is definitely upward-—owing t the strenuous activities by the Big Spenders in Congress. Opposes Confiscatory Taxation Rep. Curtis (R-Mo), believe. 1 that it is “politically immoral and fiscally uneconomic” for the Federal Government to confis cate more than 49 per cent of income earned by-taxpayers. The Missouri Republican, e member of the taxwriting House Ways and Means Committee and ranking House Republican or the Joint Economic Committee said in a Washington address: “We have piled tax on tax and compounded substantive complexities in our endeavors to meet the insatiable demands .for spending by the various echelons of government” He pointed out that the Unit ed States has now reached the point where federal, state and local government spend ap- 1 proximately one-third of the neti national product. He added that, in the last 30 j years, tax policy has thwarted | economic growth instead of cbn-j tributing to the achievement of l dynamic America. This arises, he asserted, from the fact that tax decisions have been made by default rather than with considered deliberate ness as the nation followed the course of expediency without dealing with tax issues with courage and forthrightness. Minimum Wage Legislation The congressional battle over| increasing the present SI.OO an hour minimum wage took on a new aspect as the result of Sec. retary of Labor Michell’s report I that a “modest increase” would not adverely affect low-wage in dustries Previously, the Eisenhower Administration had opposed an increase in the minimum on the ground that it would be infla tionary. As he ktes done in the past, Secretary Mitchell urged that Congress extend coverage to ‘several million additional work :rs”. Organized labor is campaign- \ wHAT? THE WALLS AReY/ r PLASTIC! * YES, THEY’RE MADE WITH (| BARCLAY Plastic Coo led Panels! Here’s something new in home decoration! Cover old kitchen, bath, or playroom walls and ceilings with Barclay Plastic-Coated Panels! These new “panels of plastic” have all thr beauty, economy, and practicability of the finest of modern plastics. They apply quickly, never need renovating, wash easily. See sam ples. Visit us or phone. There’s no obligation! M. G. Brown Co. (INCORPORATED) Phone 2135-—Edenton FILTER-FLO WASHER ® Model WA-650S REMOVES LINT... AUTOMATICALLY! f- 1 — One Simple Dial To Set! I You have a choice of either a normal wash cycle I ftMSunl ■ *- f— •—for regular family wash or a short wash cycle vxJS'/f * “■»*“»* lO 9 for delicate fabrics. The normal cycle gives you L a choice of 1 to 15 minutes —you wash most of J ——— 1 _ your clothes on this cycle. The short cycle, from ~ = ‘ 1 to 4 minutes, is for items such as lingerie, syn / / . thetics, woo It ns, etc. v ~- - s' / Saves Hot Water & Ways... I - s' I—New choice of wash water temperatures offers / a choice of hot or economical warm or cold I temperatures. 2—You can select warm or cold rinse water for a further economy. 3—Water Saver offers a saving of up to 20 gal lons of water on small loads, much of which is hot water. A lull tub of wash water circulates and filters at the rate of six gallons per minute. The Gen eral Electric Filter-Flo Washing System cleans and recleans wash water to give you cleaner clothes. Lint jsi caught in the moving filter . , . . «- , . , nos on the clothes. How The Filter-Flo Washing System Works: „ 1. Even “ground-in” dirt is loosened and carried away as clothes are washed piece by piece by Activator Washing Action. 1 2. Lint and soap scum are carried out of wash j basket as wash water continuously over | - I _ flows into outer tub. , 3. Heavy sand and silt are swept from bottom jURSd, of wasbbasket bv special fins on the Acti inftfJmfAvator washing post. 4 Pump conttouously circulates water up and through filter, cleaning and recleaning it at wflUl / the raie of 6 gallons a mihut 5. Only cleansed, sudsv water Pnws h->~k into I the weshbaskek NO LINT FUZZ ON I: ... , . T CLOTHES! ONLY $209.95 SEte It NOW AT YOl’R GE DEALER ing vigorously for an increase in the miniimtn to $1.25 an Hour. There is considerable sentiment that, if legislation is enacted, a compromise on sl.lO or $1.15 an hour might be reach J Lunch Room Menu ] Menus at the Chowan High School lunch room for the week of March 7-11 will be as follows: Monday: Milk, beef and vege- Lowest-Priced Pickup *36 to *l6l lower yiipiß* than the other four leading makes! * lowest-priced pickup-* new from stronger frame to longer-losting enamel finish. ■I v i|\|l h And year itnrluji ctwMaat aik onor Hoot Ml M u broke linings, for instance, lost up t% 13% longer. ( —-4 Bvly ffPsTyrrr.ryaMSsfc Now oil filter hat 20 X increase f tftcitnqf. QIY The only pickup with I Mk Cfefl o 'd Gn-twlni ifc-yll*. Futf Su fw M Now—economy certified in tests by independent experts! Examples: over 25% more miles per gallon than the M average of other sixes in Economy Showdown U.S.A.; over twice the front tire life of pickups and trucks now jg g 'hUjUl f using “soft type” front suspension; see all the test - #• . i/A results. Check Ford’s prices. They’re the lowest of all 1 §•*'§ Rf leading Light and Medium Duty trucks!* A IC— -9Based on certified comparison of she latest available manufacturers* * suggested retail delivered prices, including Federal excise tax, excluding dealer preparation, conditioning and de*’,nation charges r.o*A.r* SEE YOUR LOCAL FORD DEALER See "FORD STARTIME” in living color Tuesdays on NBC-TV Tuesday: Milk, pork and gra vy, peanut butter arid raisin sandwich, string beans, candled yams, beet pickles, butter and rolls, apple sauce. Wednesday: Milk, hairfburg-j ers, cheese slices, green peas,] .lettuce and tomatoes, steamed: rice and gravy, butter and rolls, ginger bread. Thursday: M.lk, chicken pan] 1 pie, Spanish peas, pineapple • salad, cranberry sauce, butter Friday: Milk, maeardPi and cheese, luncheon meat .sandwich, carrot and cabbage salad, but- j taped corn, apple rings, butter ] and biscuit, peach cobbler. V... Big-Hearted Jjlf Mrs, Multikids—l never pun ish mV children. It’s decidedly against my principles. Lt Mrd Morekids—l wonder how , you can .expect to manage them., Mrs. Multikids —I, tell my hus band when they misbehave tu*i he larrups them.
The Chowan Herald (Edenton, N.C.)
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March 3, 1960, edition 1
14
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