PAGE FOUR
Ir—SECTION THREE
JORDAN
jRk REPORTS
From.WASHINGTOM
'Warrington There is a pro
ject now being carried on in
North Carolina which offers a
good example of what can be
done in the way of foreign aid
without the United States get
ting the reputation of trying to
buy friendship.
A group of about 14 farm
leaders from Nigeria and Ghana
are in North Carolina making
an extensive study of our state’s
agricultural extension service.
They will spend about three
months, in Nort^., Carolina get
ting firsthand knowledge of our
farms and farmers as well as
how our county agents and oth
ers work with farmers.
While in our State they will
work out of A. & T. College
in Greensboro under the direc
tion of J. W. Jeffries, who for
many years was Assistant Di
rector of the North Carolina Ag
ricultural Extension Service.
In my opinion, what these
people will learn and be able
to carry back to their people in
way of knowledge about how
to produce the necessities of
life will do far more in the
way of building friendship than
giving them handouts.
One of the reasons I have
been critical in the past of some
of the ways in which we have
conducted our foreign aid pro
gram is the fact that too much
emphasis has been put on the
notion that we could win
friends by what amounts to
making gifts of the fruits of
our productivity. For example,
we have distributed many trac
tors and other farm implements
in Nations where the farmers
themselves did not know how
to use them or appreciate the
benefits they could bring.
Whether we like it or not, the
people of the underdeveloped
nations of the world must have
a desire to help themselves be
fore we can be of any real
help to them. Before a farmer
in Nigeria or Ghana can ap
preciate a tractor he gets from
the United Nations, he musi
have a desire to improve hi?
jpp. ■3; ' " 'JKjE? s■y
l. •.-. ' t^ap
A Bw
DAILY
LUNCHEON SPECIALS
75c and 95c
❖
SUNDAY
Try Something New In
Dining Pleasure
COLONIAL'S BUFFET PLATE
$1.50
Regular Sunday Specials
$1.15 and $1.35
> *
*;•
PRICES
DELICIOUS FOOD
RESTFUL ATMOSPHERE
INFORMAL HOSPITALITY
MIDGET MENUS FOR CHILDREN
HI-FI MUSIC
COLONIAL
p
AND RESTAURANT
Highway 17 North At City Limits Os Edenton, North Carolina
ill jfel I ■ « _ * - ■ . .. * ... a.. . _ n. - - .- - - -•- _ .- w _ . — 1 • . A . ' •
productivity.
During the time they were
in Washington visiting the agri
cultural research center at
Beltsville and other agencies of
our government, I had the op
portunity to talk with the group
which is now in North Carolina.
For many years, cocoa beans
have been the major money
crop in Nigeria. I learned from
the group that while farmers
are very interested in better
production methods foj. cocoa,
there are problems ; when it
comes to producing sufficient
food to provide adequate diets
for their growing population.
The rainfall, the climate, and
the soil are such in Nigeria and
Ghana that a wide range of
crops can be grown without
difficulty.
During the next few months,
the farm leaders from these Na
tions who are visiting the Unit
ed States will get as much in
formation as possible about how
we produce crops that can be
adapted to their countries. They
will take this information home
with them and teach their own
people what they have learned.
In my way of thinking, this
is the kind of foreign aid that
gets the kind of results the Free
World needs.
Group Os New Books
Received At Library
The following new books have
been received at Shepard-Pruden
Memorial Library:
The Modern Poets, A Critical
Introduction by M. L. Rosenthal.
The Making of An American
by Jacob A. Riis.
Damien, the Leper by John
Farrow.
The Light of the Piazza by
Elizabeth Spencer.
The Age of the Moguls, The
Story of the Empire Builders
by Stewart H. Holbrook.
Musket To Ml 4, Pistols, Rifles
and Machine Guns Through the |
Years by, C. B. Cplby.
YOUR VOTE AND SUPPORT
WILL BE APPRECIATED
RICHARD D. DIXON, JR.
CANDIDATE FOR
Councilman First Ward
In The Municipal Election
Tuesday, May 2, 1961
THE CHOWAN HERALD, EPENTON, WORTH CAROLINA. THURSDAY, APRIL «7, IS6L
Mm ■ ■ .■ ■ B
V v F
MANNEQUINS —Likenesses of President Kennedy and his
wife, Jacqueline, receive final touches in New York. The
manne'—’ i s are destined for stores for modeling clothes.
The National Outlook )
The Squeeze On Business Profits
By Ralph Robey
Os all the problems facing
this nation none is more seri
ous than the continued down
ward trend in corporate profits.
This is not because of its effect
upon the income of the approxi
mately fifteen million stock
holders. As a matter of fact,
dividends have been well main
tained as a result of many com
panies paying out a larger pro
portion of their earnings. The
reason the profit decline is so
important is that net business
income is the mainspring of our
economic system, and when it
goes down and down it has ex
tremely wide ramifications.
The latest official government
figures we have on corporate
profits are for the third quar
ter of 1959. However we know
that the last three months of
the year were even worse from
the point of view of net earn
ings, and the decline has con
tinued through the first quar
ter of this year.
Fortunately the First Nation
al City Bank of New York has
been collecting profit data for
FREE
7 Day Cruise
TO
NASSAU
IT COULD BE YOU
GOING TO NASSAU
COMPLIMENTS OF
many years and in its monthly
bulletin for April gives an ex
tensive tabulation. This is bas
ed upon the reports of corpora
tions and thus involves neither
guesswork nor estimates.
This current presentation sum
marizes the record of 3,433 cor
porations. The net worth of
these establishments was $232
billion as of the first of this
year and in 1959 their aggre
gate sales amounted to $307 bil
lion. In other words this is a
broad sample and beyond doubt
correctly indicates -the trend.
The bank classifies the reports
by industry, giving the number
of companies represented in
each, and then divides the
groups into seven categories.
There is, of course, a wide vari
ation as between industries and
also as between the large cate
gories.
Commercial banking showed
the greatest improvement in
earnings. In 1960 their profits
were 34 -percent above 1959. The
largest gain was at the first of
the year when interest rates
were relatively high. At the
opposite extreme was air trans
port. This showed a decline of
74 percent from 1959. In the
-manufacturing category, 2,034
companies had an over-all de
cline of 4 percent between 1959
and 1960.
The bank also calculates pro
fits in relation to sales and net
worth. In manufacturing, the
profit per dollar of sales de
clined from 5.8 percent in 1959
to 5.4 percent in 1960. During
the thirteen years -from- -1947 to
1959, inclusive, average profit
per dollar of sales was 6.3 per
cent. In terms of this meas
ure, therefore, 1960 was ex
tremely bad.
As related to net worth the
drop from 1959 to 1960 was
from 9.8 to 9.1 percent. This
is for all the companies includ-
ed in the tabulation. This was
the lowest rate since World War I
n except for 1988, and compares!
with the 1947-59 average of 11.2
percent? j
What has been responsible for'
this decline of profits?
On the one side has been an
increase in the cost of produc
tion. Wages continue to climb—
climb more rapidly -in many in
stances than the output per
man-hour. And m£ny other
costs also have been advancing,
in spite of all that management
can do to hold them down.
On the other side the Ameri
can public has come to the con
clusion that prices are as high
as they should be, and that for
many articles prices, are too
high. For years business was
able to recover higher costs by
raising prices. That no longer
is possible as a general rule.
A return to inflation would
be the worst possible method
for meeting this situation. That
would merely pilfe up more
problems -for the future. The
real cure is lower, not higher,
prices. That is not possible un
less we can reduce the cost of
production. To do that we need
more efficient machinery, and
to get these machines our tax
laws must be substantially
changed, both as to rates and
the method for calculating de
preciation.
Rev. F. H. LaGarde
Seeks Council Seat
The Rev. Fredrick H. La-
Garde, pastor of FTovidence
Baptist Church, last week filed
as a candidate for Councilman
of the Third Ward. He is op
posing R. Elton Forehand, in
cumbent.
‘He is the son of a minister
and says he is interested in the I
welfare of all people and in the
progress of Edenton for an
abundant life for all its citi
zens, and is asking for the sup
port of all in these aspirations.
Rev. LaGarde is a member of
the Tri-County Ministerial As
sociation in which he is radio
director and religious newscast
er every Saturday at 9:30 A. M.
He is a Korean War veteran,
having served his country for
two years. He was graduated
f-rom Virginia Union University,
Richmond, Va., in 1956 with an
AB degree, majoring in history.
'He matriculated at Richmond
Theological Seminary, .graduat
ing in 1959 with a BD degree.
sa vm on qs mmmAW stereo!
• 17" Overall Diagonal • Front Sound Pro(octl*A
• Consol* thapktwr* 'ff^f]k
Power Transformer " • Push-Pull "ON-OFF'*' - JjPffn—n.wCfff&Y
• Up-Front Controls > vVolumo Control *8!, jA^^mSKMSVf
— •" ■ ■<» *..t *
M 3M e> ' ‘
Ml Pmr Tramtimlr ' ■ I *t-*;l**a |
'gmpxxr? - I • *r;;:r |
I B
• Brfftfant lfu« DcryftflM PfcMfO Tufco I • Dual fhannel Amplifier I
,# Exclusive G-E Glarejector System Cult 1 • Controls Operate < ■
Out Glare and Light Reflection* , f I
• New Square Comer PUturo Tub. ff * „ I 1 Staufcnooousty v »
• Slim Silhouette Stylin* _ # —** 1 7 I• 2 Speaker Output Jo** B
• m»w Mah 11•, T T^^^cfc^ l i} |l
- ABB M • - *
■■’
■ ■ ■ fl ■ B vkl BHfl H S fl H ' B Bh
“ ** : -. •. v ™ Bi|
He. was called to the pastorate
of historic and progressive Pro
vidence Baptist Church in ‘ 1958
and has served there since.
CHRISTIAN SCIENCE
Man’s God-given freedom from
sin and temptation will be ex
plained at Christian Science ser
vices this Sunday.
Keynoting the LesaonASennon
on Ifie subject “Everlasting Pun
ishment”, , is the Golden text
from Ezekiel <18): “Repent, and
turn yourselves from all your
transgressions; so iniquity shall
Notice To The
Voters Os The
Second Ward
• « * v./.'*?.
Due to a Civil Term of Chowan County
Superior Court being in session the
week of May Ist, the voting place for
Edenton’s Municipal election on Tues
day, May 2nd, 1961, has been changed
for the Second Ward voters from the
Countv Court House to the Tax Office
•/
in the Joseph Hewes Hotel building.
Chowan County Board of Elections
L. S. Byrum, Chairman
Philip s. McMullan
Robert B. Smith
not be your ruin.” \ .■>
From “Science and Health
with Key; to the Scriptures” by
Mary Baker Eddy will be read
(pJIS): “The likeness of God
we lose; sight of through sin,
which beclouds' the spiritual
sense of Truth; and we realize
this likeness only when we sub
due sin and prove man’s herit
age, the liberty of the sons of
God.”
A selection to be read from.
the Bible states: “For it is
God which worketh in you both
to will and to do of his good I
pleasure. Do all things with-
Out rmurmurings and disputing*;
That ye may be blamdess and
harAtJass, the sons of God; with
j odt rebuke, in the midst of »
crooked and perverse nation,
among whom ye shine as light
in the world”. (Philippia ns 2). %./
Wrong Advtm
“If it hadn’t been for your con
founded advice I wouldn't, have
lost every dollar I had.” * ■
“You can’t say that," returned
his broker. “I told you to US*
'your own judgment." ' i
| “Well, that’s yrhat I did." t