i—BBCTTOiITWO
PAGE FOUR
Tlie National Outlook
Are Stock Prices Going Up Or Down?
By Ralph Robk\
What happens to the price of
securities on the New York Stock
Exchange is of fundamental im
portance for the three following
reasons.
First, many millions of individ
uals own securities directly and
many more millions own them
indirectly through pension and
mutual funds, and other invest
ment organizations.
Second, the behavior of the
market has a widespread psy
chological effect upon business
men and the public at large.
Third, many persons believe
that the stock market is one of
our most accurate forecasters of
the business trend. The record
does not support this contention,
but the belief persists.
Recently the market has been
having a rather tough time.
What may one conclude as to the
future?
As usual we shall use the Dow
Jones industrial average in dis- <
cussing the market. This is the
most widely used measure of
stock prices, and it also is the
basis of the so-called Dow theory.
This theory is accepted as a
guide for investment by only a
limited number of persons, but
it proves correct so much of the
time that it has a decided influ
ence upon the market itself.
The high of the market as
measured by the Dow-Jones in
dustrial average was last Janu
ary 5, at 685—and that was an
all-time high. At that level stock
prices obviously were vulnerable.
The yield on high grade stocks
was well below that on the best
bonds, and prices were at a very
high multiple of earnings. A de
cline was in order and it came,
not as a continuous trend, but
persistently. By March 8 the
average was 599. Then came a
substantial rally.
Now, under the Dow theory,
a low must be tested. That took
place in May and the previous
low held. In July the low again
was tested and it held.
Usually when the market
makes a low and that figure
holds under a test, it means that
we are ready for a sustained ad
vance. With two tests that failed
to penetrate the previous low, it
appeared we certainly should
iriuve forward. But this time it
was not to be. In September
the market went through the pre
vious low. and in October still
another new bottom was reached.
We are now in the position,
therefore, of having a low which
has not been tested. Almost cer
tainly it will be in time.
Does this mean that an investor
should sell his securities with the
hope of buying them back at a
lower cost, or if he already has
a cash position that he should
delay making purchases
It certainly does not mean this.
-If one needs some losses to offset
gains, it may be wise to shift
securities,' ‘ but selling with the
hope of buying back at a lower
price is always a risky busi
ness—especially in view of pres
ent taxes—and this is not the
timet to take this gamble.
It also must be borne in mind
that one neither buys nor sells
“the market”. He buys or sells
individual stocks, and the smart
investor does this in a declin
ing market just as well as in an
advancing market.
At present there are many
Taylor Theatre
EDENTON, N. C.
Thursday, November 24
SHOWS 3:30- 7:00 & 0:00
Debra Paget in
"JOURNEY TO THE
LOST CITY"
Cinemascope and Color
ALSO 3 STOOGES
Friday. November 25
SHOWS 3:30 - 7:00 & 9:00
Raymond Burr and
Martha Hyer in
"DESIRE IN THE DUST"
Saturday. November 26
DOUBLE FEATURE
Gov. Jim Davis in
"NOOSE FOR A GUNMAN"
Jeffrey Hunter in
"KEY WITNESS"
Sunday, Monday and Tuesday.
November 27-28-29
Fabian. Tuesday Weld and
Bing Crosby in
"HIGH TIME"
Cinema Scope and Color
Nuria*Van Dorm in
wih ninr rranrmr.MT'VJkx."
~ s^r ~
companies whose securities have
been over-sold, and they may be
purchased with about as much
confidence as one can ever have
in'the stock market. Even some
of the “blue-chips”, and many of
the “pale blue chips,” fall in
this category, and their yields is
fairly good.
Now picking out an attractive
stock to buy is not an easy task
but it is absolutely essential if
one is to make profits. Grant
ing one makes or gets such an
expert analysis, this is a good
time to buy—assuming that one
does not get worried or panic if
the price happens to fall below
what he paid.
r County News )
By MRS. ROLAND EVANS 1
A Thanksgiving program will
be held at Rocky Hock Church
on Sunday night.
Mrs. T. W. Allred taught the]
book, “Across The Bridge”, at
Center Hill Church on Monday;
night.
Mrs. Florence Webb taught the
book, “Across The Bridge,” at
Warwick Church recently.
Junior FA’s will have a study;
course at Rocky Hock Church
on Friday afternoon at 4 o’clock.
The Byrd Home Demonstra
tion Club toured Seabrook Pea
nut Blanching Company on
Wednesday afternoon of last
week.
The husbands’ supper was
thoroughly enjoyed by everyone
attending at Wards Community
Building on Tuesday night of
last week. Good speakers, plen
ty of good food was served by
the Wards Home Demonstration
Club women and good fellow
ship was enjoyed.
A large crowd was on hand
at the Edenton armory Thurs
day night of last week when the
Soil Conservation dinner was
served by the Cross Roads- Cen
ter Hill Fire District.
Mrs. Lillie Saunders visited
Mr. and Mrs. Edward Evans on
Straight
Kentucky
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STRAIGHT KENTUCKY BOURBON WHISKEY, 66 PROOF
ANCIENT AGi. DiSTHUNG CO. FRANKFORT, KY. #
ss2.fisrcr.MS ssaaLQ, Esssrca soam cassli* a. thcbspat. November im
Sunday.
“M” Night for Training Union'
will be held at the Edenton Bap
tist Church December 5.
Leon Evans will leave Fri
day for a trip to 4-H Congress
in Chicago. Mr. and Mrs. Mar
vin Evins will accompany him
to Raleigh where a luncheon will
be held for the 4-H’ers and par
ents before departure for Chi
cago. Leon was a state winner
with his 4-H Forestry project.
R. H. Hollowell is on the sick
list at his home in Cross Roads.
C. J. Hollowell has been on
the sick list.
Melton Bateman is a patient
in Chowan Hospital.
Stanford Perry visited his mo
ther on Saturday night.
Mr. and Mrs. Vandy Byrum,
Jr„ and family visited their par
ents on Sunday.
Miss Ruth Leary of Winston-
Salem visited her parents, Mr.
and Mrs. Stillman Leary, over
the week-end.
Congratulations to Miss Becki
Harrell and Mary Ann Hare on
winning citizenship awards.
The Audrey Gordon Circle met
at the home of Mrs. Carlton
Bunch in Rocky Hock last Mon
day night.
Christmas Festival will be
held at Chowan Community
Building on December 6 at 7:30.
Mr. and Mrs. Bristoe Perry
and Mr. and Mrs. John Perry
visited relatives in Harrellsville
Sunday afternoon.
Mr. and Mrs. Rodney Harrell
have returned after visiting their
son, Robert, in Tennessee.
Mrs. Willie Bunch, Carlton
Perry and Mrs. Bristoe Perry
and Mrs. John Perry went to
Elizabeth City to visit Mrs.
Oliver Forehand at Woodville on
Tuesday.
Mrs. Sara Griffin and Mrs.
Olivia Hobbs visited in Rocky
Hock on Sunday afternoon.
Mr. and Mrs. T. W. Allred
have returned from the State
Baptist Convention in Asheville.
Merry Hill News]
I By LOUISE B. ADAMS
i Mr. and Mrs. E. J. Pruden,
\ Sr., made a business trip to
j Durham Wednesday,
i Mrs. Louise Adams returned
home on Thursday of last week
much improved after being a'
patient in Bertie Memorial Hos
pital, Windsor, for some time.
Mrs. Rufus Baker and Mrs.
Viola Cowan were in Windsor
Friday on business.
Mrs. H. G. Cobb, Mrs. J. D.
Smithwick and Mrs. Bess Lei
cester were in Edenton Friday
shopping.
Mrs. B. G. Willis and Mrs.
Virgie Phelps of Windsor visit- j
ed their sister, Miss Nancy Pru-i
den, in Wilson Wednesday of]
last week.
Mrs. Raymond Outlaw visited
her son-in-law and daughter, Mr.
and Mrs. Pat Harrell in Cho
wan last Thursday.
Mrs. Roy Baker and Mrs. Ed
Pierce were in Edenton Friday
shopping.
Mr. and Mrs. D. P. Mizelle,
Mrs. Betty M. Walters and girls,
Angelia and Tommy of Eden
ton visited Mrs. C. T. Baker and
family Friday night.
Karen Small of Edenton spent
a few days last week with her
uncle and aunt, Mr. and Mrs.
Chet White.
Mr. and Mrs. Roy Baker and
Mrs. Virgie Baker were in Eliza
beth City last Thursday on busi
ness; also shopping.
The Rev. and Mrs. Oscar Turn
er and the Rev. and Mrs. Pinnix
of Ahoskie returned to their
homes Thursday after attending
the 130th Baptist State Conven
tion which was held in Ashe
ville.
Mrs. Johnnie Bruce Hughes
was a patient in Bertie Memor
ial Hospital, Windsor, a few days
last week.
Mrs. W. T. Davis visited her
grandparents, Mr. and Mrs.
Frank Rogerson Tuesday of last
week.
Mrs. Kenneth Spivey and bovs,
Ken and Kerry, were in Eden
ton Thursday.
Stanley Evans of Windsor
visited his brother-in-law and
sister, Mr. and Mrs. Chet White
Sunday.
Mrs. Milton Robertson of Rose
mead visited her parents, Mr.
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.m— 1— f k- ' ■> f Wf.iMlSllßl—il'wa
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OOK#BPq. Mft. mA
and Mrs. Chet White Sunday.
Mrs. J. Frank White, Jr. K of
Greenville and Mrs. William
White of Edenton visited Mrs.
T. E. White and Mrs. Virgie
Baker Sunday afternoon.
Tommie Cobb and son, Ken
neth of Elizabeth City spent
Saturday night with Mrs. T. E
White and Mrs. Virgie Baker.
Mrs. Liiiie Evans is spending
some time visiting her sons, Ro
land Evans and family, also Ber
Evans and family in Norfolk
Va.
Kermit Mizelle of Sdentor
| visited his grandmother, Mrs. C
T. Baker and aunts, Mrs. Viola
Cowan and Mrs. Louise Adams
t Saturday.
Johnnie Bell Smithwick o:
Elizabeth City visited his mo
ther, Mrs. J. D. Smithwick or
Monday.
Mr. and Mrs. H. G. Evans
spent the week-end in Chape]
Hill and atttended the Duke anc
Plants & Shrubbery
FOR SALE
Steel’s Jumbo Panies in
mixed and separate colors,
Sweet Williams (tall and
dwarf), English and Shasta
Daisies, Candy Tuft, Bas
ket of Gold.
Nursery Stock
Hollies, AaleaS (tall and
dwarf), Camellia, JuniperS,
Legustum Pyracanthia.
❖
We Guarantee The Plants
We Plant!
Leary Plant Farm
EDENTON, N. C.
Phone 2744
Located In Tha Heart
Os Rocky Hock
—■"■hi
Carolina football game.
Mrs. Mildred'Johnson and chil
dren ox Winton visited hdr
brother-in-law and sister, Mr.
| wtd Mrs. E. J. Pruden, Jr., on
Monday.
SfrecCM i
9 If- ' ****?<♦ ><: V*** -ye*-#. v .
Otfvif pMWIIIiMMtii
BLUE LUSTRE
upholstery J
shampooer and /
spot cloaner Staving!
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$1.79 Quart of-Mu* Lustre and
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Quinn Furniture Co.
; Phone 2425 “Home of Quality Furniture” Edenton» N. C.
ÜBi i ill —i 1.11 —TI ii-T, ..iU. |
.
Mr. and : Mrs. B. Ji Pruden, Jr.,
and children, Ellen and Edtmind
111, visited relatives and friends
in Harrellsville Sunday,
j Mr. and Mrs. Rudolph Holden
' and children of Colorado are
1 «. ■ -
'spending some time visiting Mh
Holden's pwonte, Mr. and M*fc
James Smidtwick and other rtb
ativasf * /
try a herald cIaBSIPIMF