Negro Playground
Now In Operation
Hie playground for Negro
children, located on the corner
of Oakum and Freemason streets
opened Monday, May 29, for the
summer season. It is being su
pervised by Coach Walter Hunt
fir who directed a very success
ful"season last summerT* 16 *
In order for the .children to
have the minimum essential
equipment the Negro Woman’s
Club purchased the fofWVing
items: One catcher’s mitt, one
fielder’s glove, three “I*o6 'P.S.
balls, one basketball, four horse
shoes, one badminton four
dozen softballs and *dozen
bats at a cost of $158.00, ‘
The main objecjive df the Wo
man’s Club is to help the youth
of the community enjoy a more
Wholesome life. Other projects
sponsored this season by Hie club j
for the youth of the town and
Announcing Sinclair
DINO GASOLINE
AT REGULAR PRICE
9
mm
' f ,.... 11.,1H v, -
, Blended with Special HIGH-MILEAGE Ingredients For Greater Economy
(mDHq;))
\\gas<*ine j/ J
At Sinclair We Care...About You...About Your Car
ELLIOTT OIL COMPANY
SINCLAIR DISTRIBUTOR
EDENTON, NORTH CAROLINA
mapmum
Friday, June 2nd - Saturday, June 3rd - Monday, June sth
GLEEM PREMIUM OUTSIDE WHJTE PAINT
REG. PRICE $6.50 SPECIAL $5.50
l Bamboo Fly Rod, BV2 Ft. with Extra Tip.......... $4.95
I 20-inch Scout Powet Mower SPECIAL $46.99
I FREE - BASEBALL WITH PURCHASE OF BASEBALL GLOVE
|lHugjies - Parker Hardware Co.
1
county were, $105.00 given to
students in college, $40.0C given'l
to Edenton High School to pur-|
chase milk for underprivileged j
pupils, $15.00 to White Oak!
School and SIO.OO to St. John|
School for the same purpose, i
Total amount spent this season!
for the betterment of youth in;
the community was $328.00.
Members of the Woman’s Club
wish to thank all who contribut
ed in any way to the success of
their youth projects.
EDENTON WOMAN'S CLUB
WILL MEET WcDNESDAY
Edenton Woman’s Club "will
meet Wednesday afternoon, June
7, at 1 o’clock at the Edenton
Restaurant. Mrs. Herbert Hollo
well, Jr, the new president, is
very anxious to have every
member present.
A pure heart is an excellent
thing—and so is a clean shirt.
—G. C. Lichtenberg.
Hsre s important news about a great new name in
gasoline. It’s Sinclair DINO Gasoline-the regular
priced gasoline that performs like premium gasoline in
3 out of 5 cars on the road.
If you want the most for your gasoline dollar, try
Sinclair DINO Gasohne in your car today. With DINO
Gasoline, you can save when you buy. Better still, you
can save as you drive because Sinclair DINO is blended
with special high-mileage ingredients to give you many
money-saving miles per gallon.
At Your Sinclair Station
THE CHOWAN HERALD. EDENTON, NORTH CAROLINA. THURSDAY, JUNE 1. 1981.
CDMC Plans Dinner
On Saturday» June 3
The CDMC of the First Chris
tian Church will serve a chick
en salad or country ham plate
Saturday night, June 3. The
dinner will be served in the
church annex from 6 to 8:30
o’clock, but the dinners will al
so be delivered.
Anyone desiring to purchase
a plate should call Mrs. Marina
Crummey, phone 3790.
RED MEN MEETING
Chowan Tribe No. 12, Improv
ed Order of Red Men, will meet
Monday night, June 5, at 8
o’clock. Bill Harris, sachem of
the tribe, is very anxious to have
a large attendance.
In obedience to the divine
nature, man’s individuality re
flects the divine law and order
of being.
—Mary Baker Eddy.
NO DISTRACTIONS, PLEASE—Just to keep distractions at a minimum, judges at this
University of South Carolina beauty contest decreed that the faces of contestants would
be hidden with paper bags. Winner was masked coed standing second from the left.
She is Joyce Adams, freshman from Columbia, S.C.
People’s Debt Repayment Now
Taking Billion Dollars A Week
The American people have
built up a record volume of per- j
sonal debt over recent years to 1
buy homes, cars and other goods
and to satisfy a variety of in
dividual wants under “Buy Now
—Pay Later” plans, which now
takes a billion dollars a week in
contractual repayments.
This figure represents close to
a sixth of all personal income
after taxes. It has increased by
30 per cent since 1955 and is
more than double what it was a
decade ago. It involves only re
payments on installment debt
and home mortgages, and ex
cludes the billions of dollars of
other bills that people at large
incur and repay in the routine
of day-to-day living, such as
charge accounts and o ner short
run credit employed by the typi
cal household.
Magnitudes Compared
Debt repayment today amounts
to a substantially greater sum
than the personal income tax bill
(Federal, State and local com
bined), and next to food and
shelter expenditures represents
the biggest single charge on the
consumer’s pocketbook.
Figures compiled from Govern
ment sources show that the an
nual amount involved in meeting
contractual payments on consum
er installment credit, and for
amortization plus some partial
prepayment of home mortgage
debt, reached a record of just
under $52 billions last year. This
represented the equivalent of
15.4 cents of every dollar of ag
gregate disposable personal in
come for the year, a proportion
which has shown only a nominal
change since 1957.
The comparable debt repay
ment figure in 1955 was $39.4
billions, equal to 14.4 cents of
every dollar of that year’s dis
posable personal income. In 1950
the figure was only $21.8 bil
lions, equivalent to 10% cents of
every dollar of the year’s dispos
able personal income.
Growth of Personal Debt
This trend reflects the course
of personal debt, which for
some years has been one of the
fastest-growipg segments of the
nation’s debt structure. One-to
four family mortgage debt and
consumer credit combined added
up to $176.4 billions at the end
of last year, same two-fifths
greater than in 1955 and two
and three-quarters times the
comparable figure in 1950. Much
of this growth is a natural by
product of an expanding popu
lation and rising living stand
ards, but the inflation of the
last two decades, in which the
dollar lost more than half of its
buying power, has been a sig
nificant factor as well.
Whether or to what extent
people may have exceeded the
limits of prudence in their will
ingness to borrow and to com
mit an increasing proportion of
their income -in advance is a
moot question. Debt is not a
one-way street, and that ap
plies to Government as well as
to the average household. It is
a fact, however, that thanks to
peak employment and pay levels
in a growing economy, and to
the widening margin of income
over basic necessities and taxes
now enjoyed by more and more
families, the overwhelming ma-J
jority of Americans have estab-l
lished an excellent record of
credit worthiness by meeting
their obligations on time.
Factor of Savings
Furthermore, a basic aspecl of
debt repayment is that it adds ■
Opening Announcement
The Chowan Cooperative Produce
Exchange, Inc.
AT VALHALLA -N. C. 32 HIGHWAY
6 MILES NORTH OF EDENTON
WILL OPEN FOR BUSINESS ON
Wed., June 7th At 1 P. M.
Mr. Frauds Hicks will be our manager. Regular opening
and receiving hours for produce will be announced as
soon as season's demands are determined.
Auction sales Mill be held for non-members as in the past.
Belt grading of beans, cleaning, grading and Maxing cu
cumbers, peppers and tomatoes. Pre-cooling sMeet corn
will be available for members. Machinery is ready for
operation.
All types of baskets and containers Mill be handled by
the exchange for the members and public, and al competi
tive prices.
The Chowan Cooperative Produce
Exchange, Inc.
W. A. HARRELL, President E. L. PEARCE, Vice President
C. M. EVANS, Secretary-Treasurer
ownership or equities. This is
particularly true with respect to
amortization of home mortgage
debt which last year added up to
$7% billions, according to esti
mates by the Home Loan Bank
Board, half again as great as in
1955 and close to three times the
comparable total in 1950. Be
sides, the figures show that the
people at large are continuing to
save regularly in the more usual
forms of thrift and have built up
a record backlog of about S3OO
billions in life insurance and
other long-term accumulated
savings of individuals.
An interesting aspect of the
consumer credit figures is the
nigh level attained by install-)
ment borrowing in relation to
the total. In the last few years
installment debt has represent
ed 75 per cent or more of all
consumer credit outstanding as
against less than 70 per cent in
1950. A big push to the ex
pansion in installment debt re
payment in the last few years,
other than debt in~urred on au
tomobiles and other big ticket
items, has come from home
modernization and ‘-epair loans
and from the broad classification
jf personal loans covering a
range from medical expenses to
vacation and travel.
'Mi \ \ 1,1 * i LA.-SIFHiI)
MASONS MEET TONIGHT |
A stated communication of
Unanimity Lodge No. 7, A. F. &
A. M., will be held tonight
(Thursday) at 8 o’clock. Dr. A.
F. Downum, master of the lodge,
urges a full turn-out of mem
bers.
ROTARIANS MEET TODAY |
Edenton’s Rotary Club will
meet this (Thursday) afternoon
at 1 o’clock in the Parish House.
The program will be in charge
of H. A. Campen and President
Elton Forehand urges a 100 per
cent attendance.
oHOP AT YOUR NEIGH liORIIOOl) GROCERY
D & M SUPER MARKET
PHONE 2317 FOR FREE I PLENTY OF FREE
DELIVERY ON ORDERS 1 vr SPACE
OF $2.00 OR MORE! j / 1 /vA/A GSI ALE
For That Cookout Try Our Swijt Premium
Rib Steaks »79 c
Tender . . . Delirious Swill's Premium
Chuck Roast»39 c
CEDAR FARM FRESH GROUND
B A C O N HAMBURGER
1-lb. pkg. 39<* lb. 39c
5-LB BAG S R PILLSBURY* 20 OZ. RED & WHITE
KI.OIIR I ! VIMT
bay 49c | hotllc 29e
303 CANS R & W GARDENS SUN-SPUN
SWEET PEAS I BISU ITS
can 19c I 3 cans 2.n*
LARGE SIZE RED & WHITE
Powdered Determent .. I boxes SI.OO
46-OZ. RED & WHITE
P’apple & Orange Prink •> rails 99c
With $5.00 or More Food Order
1 Quart Wesson Oil 39c*
I—SECTION ON*
PAGE THREE
A Great Ship is Ours
Let's bring the
u.ss.
NORTH CAROLINA HOME
Truth is the highest thing
that man may keep.
—Chaucer.