ONE
PAGE SIX
Economic Role Played By Sayings
Strongly Mirrored In Regional Flow
: Os Investments In life Companies
An insight into the role play
ed by the people’s savings and
their thrift institutions in the
economic life of the nation and
in’ its growth is provided by
regional trend's on the flow of
life insurance investment funds
over the past decade.
With 115 million policy 'hold
ers, the equivalent of nearly two
out of every three persons in
the population, life insurance is
the nation’s most widely owned
formed of personal thrift and
thereby one of the economy’s
principal sources of ‘the capital
frmation.
Factor of Regional Growth
1 Os particular significance in
the investment figures is the
fclose relationship between tne
growth of life company invest
ments in various parts of the
country and regional expansion
trends in recent years. This re-j
iponsiveness to growth needs is
evident in thet Fari
West and certain parts of the
Jifouth, where Government com-;
pilations show greater-than-aver
itge increases in population and
|n personal income than occurred
lfi the nation at large during
’the Fifties.
•? Data compiled by the Life In
surance Association of America
On the investments of companies j
Vepresenting 85 per cent of the.
assets of all United States life
insurance companies show that,
%>r the country as a whole, these
investments increased by approx
imately s32billions, or 69 per
tent, in the period from the be
ginning of 1950 'to the end of
1 958. The dollar 'totals involved
grew from $47.1 billions at the
Start of the Fifties to $79.8 bil
lions at the close of 1958.
The Pacemakers Listed
; Setting the regional pace in
jhe rate of growth for the dec
"*de was the group of eight
Mountain States running from
Montana to Arizona. Investment
jpf life insurance funds in these
increased from $1 1 a bil
lions at the start of 1950 to
billions at the end of 1958, a
rise of 133 per cent. Parallelling
this trend as a population gain
of 33 per cent for these eight
States between 1950 and 1958,
practically double the national
average in those years, com
bined with a rise of 95 per cent
in total personal income, rlr>s<\
to a third greater than the 73
per cent expansion for the na
tion as a whole.
Close behind in the regional
rate of growth were the Pacific
Coast States of California, Ore
gon and Washington. Here, too,
the influence of population and
income trends is clearlv discern
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ible, with the former up 34 per
cent and personal income again
ing 95 per cent in the 1950-58
period. Life company invest
ments in the Pacific Ocast Stater
in the period increased from $4.9
billions to $10.6 billions, a rise
of 118 per cent.
Third in growth performance
were the West South Central
States of Arkansas, Louisiana,
Oklahoma and Texas where com
bined life insurance investments
expanded from $4.7 billions to
$9.7 billions between 1950 and
1953. up 105 per cent. Here the
principal factor was rising in
dustrialization rather than above
average increases in population
and income, particularly in Tex
as and Louisiana.
Gains In Other Areas
Other regional gains in life
company investments in the
1950-58 period were:
South Atlantic States, up from
$5.8 billions to slO.l billions, in
crease of 73 per cent.
East North Central States,
$16.4 billions in 1958 versus $9.6
billions in 1950, a rise of 71
percent.
East South Central States, up
from $2.7 billions to $4.4 billions,
increase of 64 per cent.
West North Central States,
$6.5 billions versus $4.1 billions,
up 58 per cent. J
Middle Atlantic States, $15.31
billions versus $11.2 billions, upi
37 per cent.
New England States, up from!
$2.6 billions to $3.3 billions, in
crease of 27 per cent.,
Mortgage and Capital Funds
As a result of these changes,
the five East North Central
States running from Ohio to
Wisconsin have replaced the
Middle Atlantic States of New
York, New Jersey and Pennsyl
vania as the regional leader in
life company investments. The
Pacific Coast States now ranki
in third place in this respect, a
position occupied by the South
Atlantic States at the beginning
of the Fifties.
Growth in mortgages stood out
in the investment record, re
flecting the contribution of the
life companies to increasing
home ownership and providing
better housing for the American
people. Mortgage investments of
the companies in the study
grew from SIOV 2 billions to $29.9
billions in the 1950-58 period, a
rise of 186 per cent. Funds to
promote industrial expansion
through' in vest merit in bonds of
public utilities and in industrial
and miscellaneous bonds in-
I creased from $15.7 billions to
$31.9 billions i in the period, up
103 per cent.
Rural Non-Farm
Areas Pace 11. S.
Rise In Population
The great shift in the Ameri
can population as between cities
and their environs, one of 'the
>reat social and economic de
velopments on the national
:cene in the present generation,
iias been picking up momentum
and broadening Out in recent
years, according to data com
piled by the U. S. Bureau of
the Census.
Outstanding in this trend has
been a record population growth
in areas beyond the suburban
fringe, long classified as rural
nonfarm. This has been happen
ing all over the country, both in
and out of metropolitan areas,
and is rapidly converting what
were once “wide open” spaces
into communities that have all
the characteristics and facillities
of modern urban living. ' The
population growth in these rural
nonfarm areas was twice that
of the nation’s cities combined
in the past decade.
Led by Younger Families
The Census Bureau reports
that younger families have been
spear-heading this migration. As
a result, youth 'has been becom
ing an increasing characteristic
of the residents of rural non
farm areas.
The figures show, for example,
that the number of children un
der 10 increased by 85 per cent
in rural nonfarm areas in the
Fifties as against a 25 per cent
gain in urban areas and a de
cline on farms. For the 10 'to
19 age group, the gain in the
rural nonfarm areas was 80 per
cent compared with 31 per cent
in urban areas, and another de
cline on farms. In fact, all age
groups showed a markedly great
er gain in rural nonfarm areas
in the 1950-59 period than else
where, including those 65 and
over.
Another highlight of the shift
in the last decade was that the
population in the suburban and
outlying sections of the nation's
168 standard metropolitan areas
has grown to equal that of the
central cities for the first time.
Each had about 50 million popu
lation in April of last year, but
the growth waip predominantly
outside the cities" '
Census Bureau figures show
that the civilian population of
the United States increased from
149.6 million in April, . 1950, to
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173.7 million; in “April of 1959, up
24.1 million. ,or 16.1. per cent.
Going behind the overall figures,
here is Kbvy the population
changes break down:
Breakdown of Changes
The central cities of the metro
politan areas gained only about
800,000 or 1.5 per cent, their
population rising from 49.1 mil- 1
lion in 1950 to 49.9' million in
1959. i •
Other U. S. urban areas had a
population of 551 million last
April versus 46.8 million in 1950,
up 8.3 mill fen or 18 per cent.
As against’ this rise of 9 mil
lion or somewhat over 9 per
cent for the.eountry’s total urban
population, rural nonfarm areas
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had a gain of 18.3 million or. 64
per cent, increasing front 28.7
million to 47 million and scor
ing three-fourths- of the total ci
vilian population gain in the
Fifties.
The rural farm population con
tinued its long-term decline, fall
ing from 25 million to 27,7 mil
lion, down 3.3 million or 13 per
cent.
GUM POND CLUB MEETS
The Gum Pond Home Demon
stration Club met on Wednes
day night June 1 at 8 o’clock at
the home of Mrs. Earl Smith.
The meeting was called to or
der by the president and all
sung “In the Evening By the
Moonlight” and repeated the
Club Collect.
Miss Pauline Calloway.' home
agent; gave the dernonstratjdn
on green beans. She compared
the prices and the amount of
vitamins in canned, frozen or
fresh beans. She also made ,a
green bean salad consisting of
green heans, boiled eggs, onion,
salad oil and lemon juice. This
was just one of the recipes she
had on different ways to pre
pare green beans.
After the meeting adjourned
the hostess served delicious re
freshments. -
Mortals are the counterfeits of
I immortals l .
Investment Per Worker Up 70% In Decade
• V! . a '•.si.i'il:
Capital invested per produc
tion worker in manufacturing in
-1 creased by 70 per cent in the
| decade of the Fifties, according
to The National Industrial Con
jierence Board, indicative of the
I growth of capital and credit de-i
mends and hence the need for
1 more savings in our high invest
ment economy.
The average 1959 figure for
Chowan 4-H Group
At Manteo Camp 1
Continued from Pag* 1, Section 1
The group visited 'the Wright
Memorial monument, toured Eliz
abethan Gardens at Roanoke
Island, and saw other points of
interest at Nags Head, Manteo
and" Fort Raleigh. The group
will have instructions in (the fol
lowing classes: Handicraft, rec
reation, farm and home electric,
and swimming. 1
The following 4-H Club mem-
I bers are attending, camp from
[Chowan County: Jeanette Nixon,
j Margaret Tyhch, Jeanette Nixon,
' Barbara Ann Parrish, Fontaine
| Boutwell, Linda Cheryl Morids,
I Sonjia Edwards, Mary Farra'h
Privott, Linda Ashley, John R.
Dußois, Nathan ' G.' Smith, Jr.,
Philip Smithson, Rita White,
Nellie Riddick Wood, Patricia
Jean Morgan, Artie Bass, Carol
Perry Haste, Gloria Jean By
rum, Lee Venters, Robbie Boyce,
■Linda Goodwin. Glenn Bunch,
'Jr. Peggy Monds and Sandra
N. Harrell.
! These 4-H’ers are camping with
4-H’ers from Martin County.
They will return Saturday, June
11th.
TRY A HERALD CLASSIFIED
capital invested per produatton
worker in manufacturing was
estimated at $17,800 in the first j
half of the year as against $lO,- .
423 in 1950. ' Petroleum, tobac- ■
oo and chemical industries led
in the tabulation of investment
per worker, with apparel and
leather groups at the low end of
the listing. , ‘
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