Newspapers / Zebulon Record (Zebulon, N.C.) / July 23, 1937, edition 1 / Page 7
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ECONOMIC HIG II LIG HT S Happenings That Affect The Dinner Pails, Dividend ( hecks and Tax Hills Os Every Individual- National and International Problems Inseparable From Local Welfare. July 1 is-the day on which the business journalists start making up their half-year summaries. They table, chart and interpret the facts. This year, most of them are agreed th t the first six months of 1937 presented about as mixed and con fusing a set of trends as anyone could imagine. For example: During that stor my period, industrial production either increased or h Id its own in almost all lines—yet stocks gener ally went down in value, and activ ity in the markets was abnormally small, especially in the last two months. The national income con tinued its climb toward pre-depres sion peaks—yet, in the words of Business Week, “pessimism has been riding high of late.” Unem ployment has showed a gratifying decline —yet the industrial rela tions outlook grows steadily more grave, and no real truce is in sight According to an Associated Press graph, industrial activity in this country reached its all-time peak early in 1929, when it touched 118 (100 equals the 1929-30 average). It reached a low of 48 in the sum mer of 1932, and went almost as low again in the spring ( f 1933 when the Bank Holliday stopped gold payments. Thereafter the trend lias ben consistently upward, with minor booms and recessions distorting the curve. A post-’29 hi h of 108 was touched this spring and at last reports the average was still at about 103. In other words, we are very close to the record 1929 peak, when all was optimism and the few seers who forecast a severe depression were lucky if the big papers gave them ten lines near the want ads. Yet today, inspite of the figures, it is a rare businessman who believes that conditions are sound and sta ble, "and a vast number of experts, here and abroad, are anticipating another major depression within from two to five year-. The specific items that are wor rying business and investors are easily detailed. At the moment, strikes must be put foremost. For the first time in our history, labor has become aggressively involved in politics, and is making the 100 per cent closed shop its paramount issue. It seems inevitable that a long period of industrial strife with brief interludes of uneasy peace, is ahead of us. Government fiscal policy, in the long view, may be more important than the labor difficulty. We are still increasing the national debt and it seems certain that higher taxes on incomes in all brackets arc* essential. As a consequence, industrial production is no longer a measure of profits, due to taxes and new regulations and legisla tion. This is naturally a dampening influence on investors and specula tors, and is largely responsible for the near-paralysis that has re cently struck the security markets. The outlook in foreign affairs is an important, though less tangible factor. It is no secret that a major war is expected in Europe, and per haps the Far East, as soon as one of the big powers becomes convinc ed that it has the resources to win. But tihe question of “Will there be a war?” has been replaced with “When will war start?”, in the view of practically all of the ex- THE ZEBULON RECORD, ZEBUI.ON, NORTH CAROLINA, FRIDAY, JULY TWENTY-THIRD, 1937. Uncertainty as to the public’s j attitude on current issues is a head a he to both industry and govern mental officials. For instance, no one knows whether the great mass es of people whose views are least heard but who determine long run policies, are for or gainst militant • union labor, or for or against hea- I vy Federal spending, etc. Potential legislation affecting | industry is another large fly in | the ointment. It is known that the j Administration favors more gov (! ernment in business—as witness the Norris-introduced, White House I backed bill to create seven more ’ i regional electric authorities of the TYA order—and is p'anning a new , and stifle i NRA. Until Congress ad< pis 01 refuses such measures as thc.-e, the -ituation is bound to . be chaotic. If this short survey is confused. ' 1 it is because the whole political-1 1 industrial situation is confused. 1 The old standard on which fore casts used to be based, such as pro duction and income, are no longer accurate. The next six months may ' i be vital ones, and will provide a partial answer to some of today's ( | nam-werable questions. 1 NOW CHECKING FARMS UNDER SOIL PROGRAM ' . ! , The work of checking eomplance I on some 130,000 North Carolina j , farms which are cooperating in the; , agricultural conservation program | got under way this month. ; j Information gathered in the check | will be used to determine the a- I mount of soil-building and diversion ; payment each grower is to get, said ! H. A. Patten, state compliance su l| pervisor at State College. , I Forms have been furnished from j Washington on which will be set' i j down the acreages of depleting and ,jconserving crops and the areas on . which soil-building practices are , being conducted. Since farmers have until October 31 to plant certain conserving crops and start soil-building practices un der th- 1937 program, the task of checking compliance cannot be fully ' completed unti] after that date. In GO counties, aerial photographs , being made this summer, or taken previously, will be used to deter mine the acreages of different fields on individual farms. The supervisor will take the pic tures to the farm and identify, with the help of the farmer, the differ ent fields and the crops growing on ! them. , Acreage can be checked with an accuracy within ore per cent when the photographs are used. This method is also faster and more ec onomical than measuring with tapes. North Carolina farmers earned more than $12,000,000 under the program last year with some 115,- 000 farms cooperating. NOTICE OF LAND SALE Under and by virtue of the pow ers contained in and in execution of the duties imposed upon me by a certain judgment of the Superior Court of Wake County, North Car olina, entered in an action therein pending entitled “Wake County vs. W. A. Perry, Jr., and Wife,” I will on Thursday, the 29th day of July, 1937, at 12 o’clock noon, at the Courthouse door of Wake County in the City of Raleigh, N. C., offer for sale to the highest bidder, for | cash the, following described lands and premises, to-wit: 25 acres Mary Perry, For more complete description see Book 280, Page 87; Registry Wake County, The above property is sold sub ject to all taxes that have accrued since the year 1933. This 28th day 0 f June, 1937. L. S. Brassfield, Andrew Monroe Heads New Dept. (Continued from front page.) trial possibilities of the territory which it serves,” stated Mr. Veck er, “ but never before has it felt that the general interest in its ter ritory for agricultural and indus trial expansion was as keen and widespread as it is today or the possibilities of development as great, in view of which we feel that a department interested solely in hat objective is now fully warrant ed. “Mr. Monroe, who has for'many, years been connected with our or g-.nizatsor. in work which especially fits him for this, has been placed in barge of this new department, and we feel confident that under his di - rection it will prove an asset to both the Company and those inter-, ested in cooperating for a more ra pid development of agricultural and industrial resources. “The new department will con tinue and enlarge upon the Com pany’s long established policy of close cooperation with agricultur al, commercial and industrial bod ies and civic organizations in its territory—Mr. Monroe and his staff cooperating with all sections comprising the territory served by our lines.” This announcement is an indica tion that the Carolina Power and Light Company feels that there: are great possibilities for develop ment in its territory and that the i time is ripe for placing, before those who may be interested, the manifold advantages to be deriv ed from locating agricultural and industrial undertakings in the ter ritory which they serve and which is so ideal for these purposes. Many economic experts agree that the agricultural development, of the South has only begun and j that the next few years will wit ness a far greater development than previously has taken place. In this development these expert-. Announcing Guy formal Opening Monday f July 28 Brantley-H enderson Motor Company SALES y FORD SERVICE • Every Repair For Any Car GILL BUILDING BAC K OF CITY MARKET WE INVITE YOU TO VISIT US AT ANY TIME We Alho Operate The Standard Service Station At The Intersection Os Main Street & Hi way 64 feel that agriculture plays even a greater part than ever before due , "o the rapid discovery of chemical ar : other methods o applying f rra pw-ducS- tly t industry, displaci -g material .< P'-n b *re ■ tofore secured f;orn foreign coun tries, for which until recently no j substitute was. known. The creation of this new depart ment is indicative of the Carolina Power and Light Company's con- □ PICTORIAL REVIEW... 1 Y*. I □ HOUSEHOLD MAC 1 Yr. jg □ McCALL’S MAGAZINE !l Yr! I □ WOMAN S WORLD ...! 1 Yr! I I Check 2 Wagazir.es thus (x) 8 Check 1 Magazine thus (x) j a?*mail this coupon now; y <i vbJ u| *3l Check the three magazines desired and return list I with your order. Fill out coupon carciully. Gentlemen : 1 enclose S . Please $ I send me the three magazines checked with a £ j year’* subscription to your newspaper. STREET OR R. F. D TOWN AND STATE tir.ued desire to assist in the devel opment of the Carolinas and is de cide:!* a timely move. NEWS OF MOVIE STAR i Blc. som, Famous Picture C mu: m vie star, has finally ’ie onclusion that it '§ better to give than to receive. His as i tare wa “Love and Kiss la. 542.73 a week -■ year. *
Zebulon Record (Zebulon, N.C.)
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July 23, 1937, edition 1
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