SECTION TWO The Roundup Russia claims that- the spy plane incident is a threat to world peace. But as 1 see it, there is no threat, unless Russia wants to make something out of it. Therefore, full responsibility for any consequences rests en tirely in Russia’s latp. When a strong religious body goes on record in convention as opposed to the election of a Roman Catholic to the office of the Presidency of the United States, then it should be appar ent to any thinking person that we still have religious bigotry and intolerance to contend with. There was a time in our past history—which I was hoping was ever in the past when such narrowness and bias was the accepted w'arp and woof cf the cleric mind. But it now ap pears that we are still living in tlie Dark Ages; and 'the pres The National Outlook Prospects For Stock Prices By Ralph Robby For weeks the New York stock market has been nervous and sentiment has been jittery. When the Paris summit confer-. ence was destroyed by Khru-! shchev the market behaved as! though it was a jumping jack. This raises the question of whether one should sell and j hope to buy back at lower prices, or continue to hold a substantial investment portfolio, j To answer this question it is! necessary to recall a little re cent history of the market. There are numerous attempts J to measure the behavior of stock i prices. The one most frequent- ! ly used by professionals is the 1 •Dbw Jones average. This cov- ■ erfc, in so far as industrials are | concerned, only thirty com- ] panics. It _is most widely used I because it is the only average carried by the Dow Jones stock ticker, and this is the only tick-! er which reports every single j transaction on the market. Fur- i ther the average is calculated on an hourly basis, and this is more or less important to brok ers, and is used in the applica tion of the so-called Dow theory. The high of the market—the all-time high—was last January 5. On that day the Dow Jones industrial average closed at 685.47. After this the market backed and filled and finally on March 8 reached a low of 599.10. Now, according to the Dow l| ©IIVER il ent age, which is supposed to be an age of enlightenment and tolerance, is still Struggling in a morass of religious prejudices. THE WEST—W e modems think we are different from our grand parents in everything we do. But we are not, except in the matter of degree. Everything we do today had its counterpart in the past. We travel today, faster and farther, than our fore parents ever dreamed of; but they traveled too. By horse back, prairie-schooner, Stage coach or t'hc early trains, they got from place to place. And I they suffered the same discom forts, and enjoyed the same pleasures of travel, in more or less degree, that we of today experience. But with the pass age of time, and the coming of change, customs of travel also changed. theory, once a low has been es tablished it is necessary for the market to have a rally and then come back down and test the previous low. If the previous low is not' broken, the market' again starts up and may or may not go to another new high. The test of the March 8 figure came an May 2. Oh that day the market closed at 599.61. The difference obviously was not great, but it--was great enough to prevent the necessity of hav ing another test, pxcept that there was no selling climav—no selling in such volume that the reporting ticker could not keep up with the market To ardent Dow theorists this was a serious defect in the test of the previ ous low. How many Dow theorists there are ip not known, but we are not among them. Nonethe less enough traders watch the theory for it to have a major impression on the market. :One final point. The Dow Jones industrial average can move with amazing rapidity. For example on May 18, the day of the extraordinary and inex cusable press conference by. Khrushchev, the difference bc- Uvecn the high and the low was over 12 points. On that day the market closed at 623, which was only a little above the pre vious closing. With tins background how does one answer the question THE CHOWAN HERALD On display in a Westicana mu-, seiun at San Juan Bautista, Cali fornia, is a pester dating from 1858, giving advice and travel tips to lihe stagecoach traveler. Here are a few highlights: (1) If the team runs away, sit still and take your chances. If you jump, nine times out of ten, you will get hurt. (2) Don’t keep the stage waiting. Don’t smoke a strong pipe inside the coaoh. Spit on the leeward side. If you have anything to drink in a bottle, pass it around. (3) Don’t shoot on the road as the noise might frighten the horses. (4) Don’t grease your hair because travel is dusty. Don’t imagine fpr ‘a moment that you are go ing on a picnic. Expect annoy ances, discomfort and some hard ships . . . See what I mean? Grandma and Grandpa had their little discomforts, but they trav eled, they traveled. 1 propounded above? The first point to make is i that the market will not go up j ctey by day from here on. It 'never docs. On the other hand . there is no real basis for as jsuming that the previous lows ■ Will be broken. This means that I there is no point in selling good securities at this time, be cause the possible decline will .not be enough to offset the tax ' and get back in even a com parable stock at a profit. Os epurse, if one holds a stock ( which is fully priced it is de sirable to sell, because such a security is not likely to advance much more. J Secondly, if one has idle cash {it. is time to make investments, but this must be done with ut rhost care. It is not time to buy I highly speculative issues, unless j one is going to sit over the , ticker. 1 'M* • , - I In other Words, in spite of , set-backs, we shall have a ris | ing market in coming months. The uptrend will be a bit labored Nitrogen Solutions LIQUID NITROGEN You Get These Advantages 1. ECONOMICAL NITROGEN . . . SAVES MONEY ... SAVES TIME AND LABOR. 2. LOW PRESSURE SOLUTIONS ARE NON-HAZ ARDOUS TO APPLY ... NO DANGER TO NEAR BY CROPS. 3. PROVIDE FASTER, MORE EVEN CROP RE SPONSE TO NITROGEN. 4. SUPPLY QUICK ACTING . . . LONG LASTING FORMS OF NITROGEN (approximately one-third Nitrate and two-thirds Ammonia Nitrogen). 5. NO DEEP DIGGING INTO YOUR SOIL . . . MAXI MUM DEPTH OF APPLICATION 2 to 3 INCHES. ■♦ . , For Custom Service and Further Information See Us Before You Buy! . v.* » V ' * * \ ❖ Home Feed & Fertilizer Co. W. Carteret St PHONE 2313 Edenton, N. C. * ■ because business profits are again in a squeeze, and many other elements' are not too fav orable, but if one selects his securities with great care he will make money. A & P Sales, Profits At New High Peak For the second straight year, sales by The Great Atlantic and Pacific Tea Company, Inc., ex ceeded the $5-billion mark dur ing the fiscal period ended last February 27, according to the annual report being mailed to ! stockholders. Both sales and earnings were !at an all-time high for any 52- I week iperiod, according to Ralph ! W. Burger, president and board i chairman. | Sales for 1959 were $5,048,574,- 1 241 as compared with the rec j ord mark of $5,094,741,391 es ! tablished a year earlier, and net income was $51,996,369, compar ed with $53,905,170 in fiscal 1958. Earnings per share, based on $22,284,983 shares of common stock, were $2.33, compared with $2.42. A&P's store development pro gram also was maintained at a rate comparable with that of the previous year, the report disclos ed. It embodies the opening of 237 new retail outlets, the mod ernization of another 413, and the closing of 213. This phase of the company’s operations, according to 'Mr. Burger, “was accelerated on a basis that was both steady and economically sound, consistent with population shifts, suburban expansion and the changing pat terns of consumer demands.” The report showed that at the close of the fiscal year, the na tion’s leading food chain was op erating 4.276 retail stores in 37 states, the District of Columbia and Canada. FOR SALE OR RENT Due to health conditions, I am of fering for sale or rent my store on North Granville Street. Anyone in terested apply VIVIAN BAKER 315 North Granville Street Ibis is the Law JEL By ROBERT E. LEE (For the N. C. Bar Association) Three brothers, all of adult age. inherit real property in equal shares from their father. One of the brothers wants to sell his interest in the land, but I'he others do not want to do so. What can the one brother do? The three brothers hold their inherited property as “tenants in common.” Any one of the three can sell his one-third in terest to whomsoever he desires without the consent of the others. If he cannot find a purchaser of his one-third interest in the whole, he may petition the Su perior Court for a partition of the property. The Superior Court then will appoint three disinterested commissioners to divide and apportion the real property among the three co owners. Where necessary and in order to make an equitable partition, the commissioners may charge a more valuable tract of land with a sum of money to be paid to the person receiving a tract of land of inferior value. Where the inherited property is a single house or building, or other type of property that can not be actually divided satisfac torily, the court may order a sale of the entire property and a division* of the proceeds among t'hc several co-owners. The costs of proceedings for partition are cnarges upon the •several shares in proportion to their respective values. In this case, the three brothers bear equally the expense incurred. Joe Smith and Henry Brown, good friends and neighbors, pur chased a summer cottage as “tenants in common.” May a creditor of Joe Smith have his one-haif interest in the cottage levied upon and sold to satisfy a judgment he has obtained against Joe Smith? Yes. The- interest of each of the co-owners may be reached and sold by his creditors. Henry Brown cannot object to the pur chaser at the execution sale moving in and sharing the cot tage with him. Mitchell and Sapp purchased a farm. Mitchell died, survived by three children, leaving no will. 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