Build Your Nest-Eqg On A Budget
New nor* (NAPS) ? There
was a time In our history -
that period some folks fondly
refer to as the "good old
days" - when cash on the
barrelhead was the principal
means of acquiring many of
the worldly goods we take for
granted today.
But that was long ago,
before installment plans,
credit cards and charge plates
captured the national fancy
and changed the spending
habits of an entire nation.
Credit has made it easier
for more people, of almost all
incomes, to raise their stand
ard of living to levels that
might have proved difficult, if
not impossible, to achieve -in
th? old "cash-and-carry"
days.
Thus, the simple act -
repeated countless times each
day - of a customer plunking
down a few dollars and agree
ing to pay the balance over a
period of time, has contri
buted more to the nation's
economic growth and overall
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WILSON
BUILDING
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RIVER ROAO
LOUISBURG, N.C.
PHONE 496-3722
living sianaara man any omer
factor in our history.
"Mink coats, automobiles,
vacation cruises - even shares
lerican industry are ac
w?y, says John R. Haire,
Board Chairman of the In
vestment Company Institute,
the national association of
the mutual fund industry.
The accumulation plan is
the mutual funds' version of
the installment principal in
action, ahe points out. It re
presents what is probably the
earliest form of pay-as-you-go
investing now available.
Mr. Haire draws the fol
lowing distinction between
the investor building an in
vestment program on install
ments, and the individual
who buys a new car on time:
each basically is seeking con
venience and pride of owner
ship. Beyond that, the two
diverge into completely op
posite directions.
The major difference, he
explains, is that the investor
is getting value for his dollar
as well as the prospect of
capital appreciation and
growth, while the automobile
buyer for all his trouble takes
on what amounts to term
liquidating debt for a product
that can only depreciate with
time. -
The investor who is build
ing equity for himself has no
debt as such, as opposed to
other forms of installment
buying. The fund investor,
for example, is building his
account gradually, investing
regular amounts syste
matically over periods of 10,
12 or more years. "Upon
completion," Mr. Haire notes,
"he may use the funds he has
accumulated for any one of a
number of purposes, among
them the college education of
a son or daughter, a vacation
cottage, some new business
venture, or to supplement
current income upon retire
ment.
in much the same
An important advantage of
the accumulation plan is that
the investor is no longer
haunted by the question:
shall 1 buy now or wait? That
becomes academic. He will
buy securities at all price
levels, since the market does
not stand still.
The Institute' executive
points out that today's in
vestor generally is more
sophisticated about living
costs and is aware of the
importance of equities as a
factor in facing the problem.
"There is no question that
the trend to common stock
investment has been stimu
lated by the creeping infla
tion which this country has
experienced and which has
depressed the purchasing
power of the dollar from a
relative base of 100 to slight
ly more than 40 cents to
day."
Mr. Haire says that against
"this inflationary backdrop,
common shares have gen
erally been regarded as af
fording the investor some
measure of protection."
The virtue of the common
stock is apparent to all who
invest. Mr. Haire points out.
"It grows as the company it
represents grows. In an ex
panding economy not only
have corporate earnings
grown, but the market al*>_
has been willing to pay a
higher price for each new
dollar of earnings. As a re
suit, he says, "common
stocks have increased in value
faster than inflation could
chip away at the dollar."
And mutual funds, with
broad holdings in American
industry, have built a fine
record of performance over
the years, helping their share
holders to keep pace, and in
many instances, to stay ahead
of living costs.
He points out that while
investors far and wide still
prefer the lump sum invest
ment - also known as the
Port Of Call
By Edward H. Sims
This is the time of year
when many who live in colder
areas of the nation board
ships for southerly cruises.
Winter cruises have, of
course, made headlines this
season when mishaps have
terminated some abruptly.
There is nothing so re
freshing as the right cruise
and ship at the right time but
nothing so miserable as being
trapped aboard a cruise ship
in unhappy circumstances.
Thus one should-if this is
his or her first cruise-select a
short one and one of the
better, bigger ships. A first
cruise should also contain the
maximum number of port
calls, so that if one's sea legs
haven't developed as they
should a walk on terra flrma
can restore them.
Caribbean cruises can be
highly relaxing and enjoyable
but if the weather is not good
and the ship is small, and if
the food doesn't particularly
appeal to the voyager, it can
be like a jail sentence, since
one can't get off the boat.
Many enjoy the Italian
Line's late sprig and summer
A tlantic crossings because
they go the southerly route,
but heavy weather is more
likely on this run than in the
more southerly cruise areas.
The Matson Line's cruise
ships, such as the famed Lur
line, to Hawaii, long attracted
travelers but this is a long
cruise without the inter
mediate stops one finds in
Caribbean cruising. Hawaii is
further from California than
New York! Three or four
thousand miles of ocean is
quite a ceuise.
Cunard, the best known
name in passenger shipping,
has been using its best ships
on Caribbean cruises for a
number of years (Caronia,
Carmania, etc.) and will use
the new Queen Elizabeth for
this purpose- as well as for a
last fling at regular Atlantic
crossings.
Generally speaking, local
cruise ships, such as those
operating from Florida ports,
should be thoroughly inspect
ed before one books passage.
Some of these ships are old
and while most of them are
now air conditioned, modern
accommodations in other re
spects are not what the aver
age American would desire.
There are happy ships and
unhappy ones, silly as that
may ( sound. If you pick a
happy one, it will make a
genuine difference, for the
atmosphere aboard, and ser
vice, will reflect this condi
tion.
regular account - the accum
ulation plan has rapidly come
into its own. There are now 3
million such accounts in force
out of a total 8 million on the
books, and new ones are
being opened at the rate of
over 40,000 a month.
"The mutual fund in
dustry manages assets of
some $50 billion for more
than 4 million Americans."
Mr. Haire points out. "And
each investor receives pre
cisely the same management,
the same diversification and
WE ARE JUST ONE
of 61 Carrier Dealers who give 30,000 S & H
Stamps for buying Carrier Central Air Condi
tioning. Those 60 other dealers must be off their
rockers. As for us, we've just blown our cool.
8AJ.K* 0 Service Day or Night
Electric Hocutt's
MOTOR SHOP REPAIR SERVICE
Phone w an W?k? F<rot PHONE M4T?72 .
If you should desire to change your heat from oil
to gas, we have a conversion unit ready to install.
YOUR AUTHORIZED CARRIER DEALER FOR
L0UISBUR6, YOUNGSVILLE. FRANKUNTON AND
WAKE FOREST
Swallows Check
London ? Hay Thomas
thought he had "fooled the
police when he swallowed a
stolen check. The Forensic
Science Laboratory did an
extraordinary piece of work
by retrieving the check and
piecing it together When con
fronted with the evidence,
Thomas admitted stealing the
check.
the same opportunity fr
growth and income whether
his investment adds up to
S100 or$l. 000.000^'
Moon-Walkers
Named
Washington ? The first
Americans who may walk on
the moon have been named.
Neil A. Armstrong, civilian
test pilot; Michael Collins, an
Air Force lieutenant colonel;
and Edwin A. Aldrin. an Air
Force colonel. If Apollo 9
and 10 prove successful Apol
lo 11 is set for a moon
landing about July 15.
It's well to remember th
neither wealth nor position
makes a. man a gentleman.
Warning On
Hitchikers
Washington ? The Ameri
can Automobile Association
reports in a recent check by
police along a stretch of high
way in Arizona that out of
100 hitchhikers stopped and
investigated. 84 had criminal
records. Only four of the 100
were without police records.
When you spend money
freely, you will have many
friends who will disappear
when the cash runs out.
FHA Interest Up
The Nixon Administration
has announced an increase to
7H per cent in the maximum
interest rate on martagages
insured by the Federal Hous
ing Administration. George
Ri>mney, Secretary of Hous
ing and Urban Development. ?
said the increase does not
effect the 4.6 million Out
standing FHA-insured mort
gages already on the books.
People often seek excuses
for their failures instead of
trying to do something about
them.
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