Newspapers / The Chowan Herald (Edenton, … / July 20, 1961, edition 1 / Page 9
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The National Outlook The Trend Os Profits ' _ By. Robey Official figures on business ofits «re compiled by the Fed il Commission and the curitijes and Exchange Comi ssion.' The mere job of coi tion and estimation makes it cessary that publication bej me what delayed, and the re-! rt for the first quarter of this ar was released only a few ys ago. Actually this compilation cov s only manufacturing, and this! v only about one half of the B*tal of corporate profits. What ||s happened is not favorable. Übis is true regardless of how fee measures profits, r ls one uses the aggregate pro fit figure, which is important pern the viewpoint of determin ing possible .government reve nues, the total is the lowest sfcoe the first three months of $958 —a period of recession. This ! fe distressing because the vol ume of sales since then has Shown a large increase. ...'his growth of sales without any increase in the aggregate of profits is measured by the per centage made per dollar of sales. In the first quarter of this year ®iis was 3.5 cents, and this is the average figure. It means that many companies made no profits at all on their sales. In the first three months of last year the comparable figure was 4.7 cents, and in the second Quarter of 1959 it was 5.5 cents. That was the highest rate of pro fits per dollar of sales in the past several years, and it lasted only one quarter. J: The third method for measur ing profits is as a percentage on stockholders’ equity. This has to be on the depreciated value of the property, and for this reason the figure always is relatively high. In the first quarter this was 6.8 percent, as compared with 9.8 percent a year earlier, and 12.4 percent in the second three months of 1959. Now what difference does it make whether profits are higher | or lower? It makes a whale of a difference. From the point of view of federal revenues the total of business profits can easily be the deciding issue as to whether we have a surplus or a deficit. This is because just about one jbau of all business profits are paid to the federal government NOTICE! DOG AND BICYCLE LICENSES ARE NOW ON SALE! 0 Dog Licenses Are on Sale at the Town Office and Bicycle Licenses Are on Sale at the Police Station. The Fee for Each Male Dog is SI.OO and $2.00 for Each Female. The Fee for Each Bicycle is 25 Cents. The Code of Ordinances Requires the Arrest of Any Dog Owner Who Fails to Purchase licenses for His Dogs by August 15th. • —T—— ~" 1 > ] TOWN OF EDENTON in taxes. In 160 this amount ed to almost $22 billion. States and municipalities also collect large taxes from business, from levies on its income and also on its property. From the viewpoint of man ' agement and the investor, the , possible rate of profit will de termine whether it is worthwhile to buy a new and better ma chine, create more capacity to ; produce, develop new products, expand marketing procedures, and so forth. And the amount of profit realized will directly affect the volume of funds which are available for investment in new plant and equipment. To the consumer, as a pur chaser, the only profit which is important is that per dollar of sales. If this was increased a half cent, or a penny, it would ; not even be noticeable in most instances, but it could make a company operating at a loss into a profitable concern, and this would be of tremendous value to the nation as a whole. | This is not a plea, of course, for excessive profits. There can be no such thing as excessive I profits if we have competition, I and under present laws the gov ernment has ample authority to assure competition. All we are pleading for is a rate of profit adequate to provide some real incentive in our economic sys-l tern. Under present taxes it is increasingly difficult to get those with funds to take a real risk and break new ground. Color Accent Chan ares On Fashion Market Although we are still in thei middle of summer, fall fashions are beginning to appear on the market. You may be surprised at the changes in color. Miss Mary Em Lee, clothing specialist for the N. C. Agricul tural Extension Service, says the colors suggest a gentler era, ifar removed from the flashy 1 world of jets and juke boxes. Reports show that metal shades are coming up as most import ant—the soft grey-green of old pewter, the softer grey of sil ver, the mellow depth of old gold, the, steel blue of an an tique musket. The earth-tones, too, are im portant—mossy greens and peat THE CHOWAIf HERALD, * gPEWTOW, NORTH CAROLINA. THT7HBDAT, JULY 20, IMI. browns. The surprise color is black, brightened by clear, bright, traditional tones in a print, or with plenty of white in a costume. No color story is complete, without one shocker, and this year it’s “magenta.” This is a logical follow-through from the adult craze for springtime pink which had every woman looking as though she had fallen into a jar of strawbeiTy jam. Now, deepened and dressed for fall, magenta appears in every hue and every line. This is such a strong, off-beat color that it re quires a little care; it usually is not becoming to brunettes, and may tend to wasn out a fair little blonde. A brown-haired, blue-eyed lass will do best with it—but not if she has a favor ite red sweater or coat. No Comment By JAMES W. DOUTHAT Assistant Vice President, Government Relations Division of the National Association of Manufacturers NO COMMENT is a report of incidents on the national scale, and does not necessarily reflect NAM policy or position. Washington Concern is be ing shown among business ob servers in Washington over pres sure for anti-business legisla tion and unfavorable administra tive action, which could not only produce harmful laws and or ders, but could impede eco nomic growth. An anti-business climate ad mittedly would be contrary to the professed aims of the Ken nedy Administration. Soon after taking office, President Kennedy said he wanted more than cooperation j with business—he wanted a full j fledged alliance. And recently Secretary of Commerce Hodges said the Administration is .com mitted to the private enterprise system. Nevertheless, the attacks on business frequently are severe. More and more spokesmen for business find themselves under the necessity of protesting against harmful legislative or Administrative proposals. Investigating committees fre quently appear to be searching out means of attacking business I—and 1 —and they give short shrift to those seeking to defend it. Mr. Kennedy disappointed many advocates of the private enterprise system when he rec ommended that Congress appro priate $95,000,000 to produce electric power at the atomic en ergy plant at Hanford, Wash- : ington. , It has been clearly shown that : the power is not needed. The facilities has been advocated by those who want to spread Gov- , eminent power installations over the whole nation: Opponents ; claim *it is a plainly socialistic trend. There also has been complaint over the apparent willingness of the Government to commit hun dreds of millions of foreign aid money to developing Govern ment-owned enterprises abroad, instead of encouraging develop ment of free enterprise in de veloping nations. In urging expenditure of hun dreds of millions, to develog a satellite communications system, Mr. Kennedy significantly made no mention, as President Eisen hower had done, that it should be owned and operated by the private communications industry. Business concern has been shown over many proposed new laws. Among them are com panion bills to give the Attor ney-General power to go into a corporation and demand its rec ords merely on the belief that Traveling? 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Next trip fast. \ an exclusive new combina-. you take... . n Vj Travel with PURE Firebird... F*£ ll u G? l _ - BE SURE WITH PURE „ WINSLOW OIL COMPANY . PHONE 3336 HERTFOI it is violating antitrust laws. I Effect of this, business spokes-' men have protested, is to short-' cut usual judicial procedures in favor of autocratic decision. I t Legislation to require pre notification of corporate merg ers above a fixed. dollar amount would inevitably, business spokesmen say,, impede normal economic development. A “tough” antitrust policy has been announced by the Depart-I ment of Justice, while Congres-j sional investigating committees hammer away at business—in spite of the known uncertainty of antitrust laws. Tar Heel Farmers Plant More Cotton Cotton planted in North Caro lina this year is estimated at 425,000 acres, according to the North Carolina Crop Reporting Service. The current acreage is 3.7 percent more than the 410,- 000 acres planted last year but 22 percent below the 1950-59 average of 544,000 acres. As suming the 1951-60 ten-year av erage abandonment of 3.3 per cent would result in about 411,- 000 acres for harvest this year. this would be the largest acre-! age of cotton harvested in North] Carolina since 1956 when 440,000' acres were harvested. Corn For Grain Crop Is 25% Below 1960 1 Based on reports from grow ers as of July 1, Tar Heel pro duction of corn for grain is forecast at 63 million bushels, according to the North Caro lina Crop Reporting Service. If a crop of 63 million bushels materializes, it win be 25 per cent below the 1960 production of corn for grain of 84,000,000 bushels. WHEAT PRODUCTION UP North Carolina’s 1961 wheat crop is estimated at 10,582,000 bushels by the North Carolina Crop Reporting Service. The current estimate of production is one-third larger than the 1980 crop. Yield per acre is fore cast at 26.0 bushels per acre, 2.5 bushels above 1960 and .5 bushels above the record 25.5 bushels set in 1966. Acreage for harvest is estimated at 407,- 000, up 20 percent from last i year. I Harvest of the current crop is i later than usual, and whether the final yield reaches expec tation is largely dependent upon effects of weather since July 1. *« a.C.NISHMAVI | Raleigh The Motor Vehicles Department’s summary of traf-l sic deaths through 10:00 A. M., Monday, July 17, follows: i Killed To Date 554 Killed To Dale Last Year 589 ARIZONA'S GOLDEN BOY EYEING THE PRESIDENCY Barry Goldwater, junior sena i tor from Arizona is a conserva- I tive who calls himself a liberal I—a big man in Texas and who some day may be President. Goldwater’s illustrated story is one of many enlightening and interesting features in the full color American Weekly maga zine with the July 23rd. BALTIMORE SUNDAY AMERICAN I on sale at your local newsdealer I—SECTIOH TWf PAGE THREE RED MEN MEET Chowan Tribe No. 42, Improv ed Order of Red Men, will meet Monday night, July 24, at 8 o’clock. Edgar Rogerson, sa chem, requests a large turnout of members. True enjoyment comes from activity of the mind and exer cise of the body; the two are ever united. —Alexander Humboldt. OH, MY ACHING BACK Now! You can get the fast relief you need from nagging backache, headache and muscular aches and pains that often cause restless nights and miserable tired out feelings. When these discomforts come on with over-exertion or stress and strain—you want relief—want it fast I Another disturbance may be mild bladder irritation following wrong food and drink—often setting up a restless un comfortable feeling. 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The Chowan Herald (Edenton, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
July 20, 1961, edition 1
9
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