Champion Picker
Repeats at Huron
John Mehia. a 25-year-old High
way City. Calif., war veteran,
made a repeat performance at the
competition designated “the
world’s champion cotton picking
contest" at Huron, Calif., to win
the title and $500 for the second
consecutive year.
The champion cotton picker ga
thered 608 pounds of Aeala cot
ton in the six-hour period for an
average of slightly more than
101 pounds an hour. In addition
to the cash prize, Mehia received
a golden trophy for his achieve
ment.
ANTI-HISTAMINE TABLETS
stop COLD’S'
distresses IN
MANY CASES
the first day!!
SCHENlfY OlSTH»t>
TORS. INC.. lOUIS*i
YlUf, KENTUCKY..
SIENDED WHISKEY.
457. GRAIN NEUTRAl
SPIRITS. 84 PROOf..
♦ 910 $24°
^Kr. D*/>Ql
It's Later Than You Think... SHOP TODAY!
Why Shop For Sifts
All Over Town?
GIFT
IDEAS
Stalioner\
Perfumes
(a gars
fountain
Pens
Peneils
Cigarettes
Pipes
Lighters
Boxed
Land v
Lotions
Billfolds
(locks
(Cosmetics
Playing
Lards
Compacts
Greeting
Cards
Cameras
Tin re's no need to Inirk the crowds and
trudge all 'round town to do yQ|l|* Christ
mas shopping. We’re Christmas-ready with
a hoard of jjifts to please every one on your
list. Here are fine perfumes ami toiletries
. . . candy . . . tobacco . . . stationery . . .
pens and pencils—to mention only a few.
Don't wander about aimlessly . . . shop here
and complete the job with ONE stop!
Clark s Pharmacy
Open Every fl veiling
Bond Redemptions
Exceeding Sales
By Large Margin
-
Savings Are Being Vi itli
drawn To Feed Nation's
Great Buying Spree
Washington—U. S. families are
putting less money into savings
these days, if you can judge by
the slump in buying government
saving bonds.
These familiar green and white
certificates, that have face value
from $25 to $1,000 and pay 2.9
perecent interest if held 10 years,
once brought the U. S. Treasury
billions of dollars of borrowed
money annually Nearly half the
nation’s households still own over
$36 billion of these bonds-for-the
little man.
But today, lagging sales can’t
keep up with cash-ins. The money
is trickling back into people's
hands to be spent for new homes,
cars, refrigerators and TV sets or
to be put in the bank.
The Government would like to
count more heavily on savings
bond salts to help pay for mili
tary spending not covered by
new taxes. In this way, consumers
would be setting aside money in
stead of spending it in “infla
tionary fashion,” federal econom
ists theorize.
Treasury officials see two other
advantages in widespread owner
ship of the bonds: They give the
average citizen a direct stake in
his government, and provide a
backlog of spendable savings that
would help cushion any future
business recession.
Treasury men from Secretary
John W. Snyder down, won't ad
mit publicly they’re 'worried a
bout the savings bonds program.
They still tout the securities as
the best investment for the man
who needs to put safety ahead of
income in his savings.
But privately there’s a great
scratching of heads as the Trea
sury wonder what, if anything,
should be done to revive the pub
lic’s appetite. Sometime in the
not-very-near-future, the upshot
of this concern could be a new
series of savings bonds.
The small bonds brought the
Treasury over half a billion dol
lars a year before the war. Dur
ing the war years sales spurted,
as the government appealed to
investors’ patriotism and at the
same time cut output of civilian
goods. With less to buy, consum
ers put more money into savings
and part of that went into E
bonds.
The peak was reached in the
1943-44 fiscal year, when sales
exceeded cash-ins by $9,641 mil
lion. The following year bond
sales topped redemptions by $7,
564 million.
With the war ending the next
year, 1945-46, the Treasury take
dropped sharply. That fiscal year
sales of E bonds exceeded cash
ins by little more than $800 mil
lion.
Since then sales of E bonds
have dwindled so that now
they're running at a rate of less
than $4 billion a year. Cash-ins
before maturity have been heavy.
As a result, the Treasury has
Vi tit
Ileilig and
Meyers
Williamston
for the
“Beat Buya In
Furniture99
TREASURY CHIEF ADMIRES NEW BABY
'IN A THREE GENERATIONS POSE, Secretary of the Treasury John W.
Snyder is permitted by his daughter, Mrs. John E. Horton, to hold his
granddaughter, Evelyn Spencer, born on November 4. Mrfe. Horton, the
former Drucie Snyder, was a Washington social figure. {International)
paid out more than it has taken
in <(n these small bonds in all
but one of the past four fiscal
years. In 1946-47 it paid out $586
million more than it took in, and
the following year $315 million
more. In 1948-49 sales turned up
ward and outweighed cash-ins
and payments on matured bonds
by $45 million. But during the
fiscal year ended last June, out
go gain exceeded income, by $609
million.
Recently, results have been less |
happy for the Treasury. In the j
first half of the 15)50 calendar
year, the Government paid its
small bondholders $423 million
more than it took in on sales of
new bonds. In the same months
a year ago, sales ran $5 million
■ahead or redemptions.
Then came the Korean war with
the rush of redemptions. In July i
and August the Treasury paid
opt—for cashed-in and matured
small bonds—$293 million more
than it took in in sales. By late
August the tide apparently was
slowing down. Officials estimate
cash-ins during the last ten days
of the month ran about 16 per
cent below those at the end of
July. But they’re still heavier,
than sales.
Though the threat ol an ex- |
tended war has stepped up re- !
demptions and exaggerated the
Treasury's savings bond troubles,
it's clear that something more
fundamental is wrong. A look
backward suggests the terms may
have become a bit outmoded.
Much has happened in the past
15, years to change investors’
thinking. Inflation has taken a
big bite out of the returns offered
on the savings bonds—-or on any
other fixed-income investment for
that matter.
Consider for instance, the man
who paid out $750 for a nice new
Series A bond in 1935. In 1945 the
$1,000 he got back from the Gov
ernment paid for only about as
mqch of his current living ex
penses as did $850 ten years earli
er. The man who invested $750
in 1940 is worse off: though his
bond is now worth a thousand of
today’s dollars, he has onl£ the
equivalent of $050 in terms of
1940 purchasing power.
Looking backward, many sav
ings bond buyers find they could
J u V i: N 1 I, K
i in s ii h a m <: i:
and
E I) l! C A T IONA E
PE A N S
W. G. “JULI,” 1‘I KI.F.
Manarcr
THE IilFE
INSURANCE COMPANY
OF V IRGINI A
tyll4JAMSTON
N. C.
• --
have done better by putting their
money into investments like, say,
real estate, the value of which
has soared in line with the past
15 years’ inflation
-♦
The Indian practice of scalp
ing was not ordinarily fatal, ac
cording to the Encyclopaedia
Britannlea.
years.
Chatham Nan
Tries New Plan
Brooding baby chicks with heat
provided by infrared lamps, ra
ther than the conventional oil or
bottled gas method, is being tried
by a Chatham County broiler pro
ducer.
Paul McCoy, Route i. New Hill
has started 6,000 baby chicks un
der the new system. He has in
stalled a separate electrical meter
on his new chicken house, which
is 24 by 200 feet in size, and will
keep careful records on the cost
of the project.
McCoy’s equipment includes 12
heating units, each made up of six
250-watt infrared bulbs. Each unit
will take care of about 500 chicks.
In other states where the idea
has been tried, poultrymen report
that chicks under infrared lamps
thrive on less heat because they
absorb some of the rays. Main ad
vantage of the new method, how
ever, fs that it would save time
and labor.
At State College, poultry spec
ialists are quite interested in Mc
Coy’s experiment. They point out,
; however, that they cannot recom
mend the infrared method at this
i time since research data on costs
land results are insufficient.
One question is whether the
Men’s Dress and
Work Shoes
For Less.
WILLARD’S SHOE SHOP
Cost Of Liquor
High In Nation
According to a report issued by
the Board of Temperance of the
Methodist Church, the people of
the United States spend more
money for alcoholic beverages
than for milk and dairy products.
system is practical bn a year
round basis. For example, on cold
nights McCoy may have to pro
vide extra heat to fake care of his
chicks.
Two other Chatham poultry
men, Jesse and Ed Farrington,
Route 1, Pittsboro also plan ex
periments with infrared heating.
They will install the lights and
start two houses of chicks in the
near future.
Department of Commerce statis
tics are quoted by the board to
show that $8,550,000,000 a year
is spent n the consumption of
alcoh< lie beverages.' Other sta
tistics released by the Board
through Religious News Service
are these:
Milk and Dairy Products, $8,
000,000.000: Education, $6,600,000,
000; Motion Pictures, $1,350,000,
000: Jewelry $1,273,000,000;
Church Contributions, 1,511.000,
000; Tobacco, $4,275,000,000: Toys,
S8.000.000; Musical Instruments,
$192,000,000.
SLAB WOOD
FOB SALE CHEAP.
Dial 2160
Willianiston Supply Co.
PETER LIND HAYV
comedian: "I fou\
whar mildness mcansx
made the 30-Day Test \
KYLE MacDONNELl, m i
of relcvision. 1 smoke
mild (..uncls. I Ih-s .itutc
v% ith my ihiu;it !'
DICK POWELL,
st.ir: "My test
Camels agree w
throat
m.ivu MARTHA TILTON, re * AUTO-RACING CHAM
proved cording star As a IMON I>>I,r.nic- Pirs u»s
nli m\ singei. I certainly tn I d walk a mile lot *
j.iv < . ' .cl mildi ess' tool, mild < amel '
Attention Farmers
We Buy
SOY BEANS
AM) PAY
TOP MARKET PRICES
II' voii ilrwirr wr‘ll oollerl ami buy sov brans
Al Your Farm. Jusl Fall
Phone 2578
Al Roanokr-T)ixi«* Warrlioiiso.
Jack Manning
i
•>«r ■
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Look at these
“Look Ahead" Features
The new Double-Seal king-Si/e Brakes
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ing . . the Automatic Pontine ( Control
tliat makes an\ driver more comfortable
and safer ... a new "l.iiyurv Lounge'
Interior with long-life fordcraft fab
rics. I oucb a button and tbe diKirs
open, Touch a ke\ to tbe trunk lock
and tbe counterbalanced lid springs
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lilting. Inside tbe car. turn your
ignition key and tbe .engine Marts.
You can have your choice of three ad
vanced transmissions in your new il
Ford . . . tbe Conventional Drive—tbe
Overdrive*—anil Fordpinatic Drive,*
tbe newest, linest and most flexible of
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*Ot>tirnal at extra cost.
I
Automatic Ride Control
It s a completely new ride that
automatically adjusts itsell to toad
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new "Viscous Control’’ Shuck
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See it... “Test Drive" it at your Fori Dealer's
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