Newspapers / The Duplin Times (Warsaw, … / Dec. 28, 1967, edition 1 / Page 2
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IBM's View expect * revenue act in 1968. It may include excise imposts as well as income levies. 8. Tim Administration will be forced to reduce total expendi tures for the coming year by ?8-to-llO billion. While the war - continues, most of this will have to be lopped off non-defense areas. 9. Congress will remove the 9Vf gold backing for. Federal Reserve notes early in the year. 10. The amount of goods tourists will be permitted to bring Into the country duty free will be reduced to zero in 1968. IL Further restrictions will be put on foreign investments by U. S. Corporations in the coming year; our government will encourage American com panies to increase dividend pay ments by foreign subsidiaries. 13 Rationing of credit by the Adndnistr*ion and die Federal Reserve is a distinct possibi lity in the months ahead. 13. U. S. outlays for foreign aid will be slashed in 1968. M. Our money managers will slow down the current nigh rate of money-supply increase as soon as Congress takes action to curb Inflation. 16. But the tremendous out pouring of money during the. whole of 1967 will continue , for some months, to exert up ward pressures on Interest rates and the general price le . vel. It will also have an ener gizing effect on business. Hence, as money flow is cut back next year, there will be a delayed depressing effect on interest rates, prices, and busi ness...prob) after midyear. 16. There will be repeated raids on the dollar; but It will not be devalued in 1968. IT. There will, however, be many discussions between fin ancial experts here and abroad to develop a long-range pi an for revaluing in terms of gold - on a more realistic basis - the currencies of all of the Free World. 18. The early - 1968 uptllt in business volume will give a lift to corporate profits; the fanning out of wage boosts, how ever, along with rising costs and taxes will later nave a squeezing effect on profits. 19. Short-term interest rates will rise faster than long-term In the months dtead. 20. This will have ? restric tive Impact on the availability sod cost of mortgage funds. 21. to turn, die recovery now under way in home building will be < trained and perhaps re versed as 1968 moves along., but apartment construction should remain in an uptrend. 22. Inventories will rise - perhaps sharply - in the firm half of 1968...taper off later. 23. Business capital expendi tures should start the year on a strong note; but as the year advances, prospects for fur ther gains will become dimmer 24. With wage guidelines now definitely Junked, there will be a stampede by labor generally to bring contract gains In line with the huge advances made fay the Unite a Auto Workers; the an . riual lelary^coooq* for^pro trtes. An*rtC 36. A labor feature for the coming year will be wide spread stoppages by state, city. and local public employees; the battle on this front will surely be Ions and bitter. 36. With elections coming in the autumn, Congress will not vote any restrictive labor le gislation in 1968. Although we anticipate thtt credit controls may possibly bp invoked in die Administration's struggle with inflation, there Is no chance that any serious tttempts will be made to impose wage com-; trola, 37. Upward pressures on the cost of living will be intensi fied during he first half of the new year, with advances taper ing as autumn tppro aches. Over-all, we look for ano ther increase in living expenses of over 3%..and it would not surprise us if the toll should rise to the level. The "bad boys" will continue to be soar ing service costs - especially medical-and upspirals in trans portation and finished goods tags. Food may inch up a little more as processitg costs mount further; but prospective plenti ful supplies will act as s con trolling factor. 28. Total cash receipts from from marketings should ad vance moderatley over figures for 1967; however, the relent less up-push of costs will take Its toll, and farmers' net Income will do w?U to Improve even slightly., .notwithstanding some relief from higher government payouts. Large marketings pro mise to restrain cattle quotes and hold this source affirm in come in Its recent low profi tability groove. Meat prices, however, propped by bulging ex penses. will be well maintained to firmer for the year. The con sumer with storage facilities may benefit from time to time by watching carefully for sales and taking advantage of any buy Ing opportunities "provided by occasional runs of cattle fed to extra-heavy weights. Apparent determination by growers to cut back on poultry output threatens to deprive the housewife of one of her most prolific sources of reasonably priced meat. 29. Real estate will be a ma ny-sided market In 1968. Prices for single-family homes will continue to advance as con struction falls to satisfy rising demands aid as all building costs move higher..particularly during the first half. Demand for rentals in the middle and lower brackets will gain stead ily; however, ability to satisfy these needs will be sq/tffly hamstrung by even more opst ly and scarcer mortgage tfuftfey. Speculative purchases and me sal ability of vacant property - especially that in less desirable areas ? will suffer from die dry ing-up of funds to carry such parcels. Broadly, the better ment that set In during die final six months of 1967 will proba bly not be maintained long in 30. Higher pay scales, the effect of recent increases in total money supplies, bigger so cial security outlays, and fur ther advances in disposable in come promise to give very strong support to retail trade during the early months of 1968 and for some time beyond. Only minor shadow is die evi dent reluctance of consumers to go as heavily into debt as in recent years. The purchasing power will be there, and only an optimistic shift In consumer attitudes will be necessary to ring up record sales gains - maybe 8$ to 10$ - at least dur ing the first half-year. Later, efforts of the Administration and of the money managers to cool the inflation through taxes and cutbacks in government spending may slow the rate of retail unturn. 31. The trend In recent years has been toward a dwindling margin of U. S. exports over imports. This has come * a baa time for our chronic con dition of imbalance in our in ternational payments position. Devaluation of the pound and other currencies had hurt our ability to expand exports at a I crucial moment for our balance of payments. Greatest hope for us in 1968 is that European nations the have been in a business slump will enjoy re- I covery...making a better market for our products there. We'forecast that our govern ment will discuss, and perhaps implement, export subsidies , during the year ahead. 32. Current talk of the pos sibility of an even "hotter" summer ahead in our racially imbalanced big cities should be discounted. Preparations al ready made and in the making should reduce the danger of the firestorms suffered in 1961. We feel that real advances have been made throqgh the ballot box in major mayoralty elec tions. Another hopeful sign is the rising trend toward re sponsibility for bettering condi tions on trie part of tne busi nessmen and the private sector. We are willing to stick our necks out and predict that the summer of 1968 Will not !*? as "hot" as was 1967's. 33. However, we are not op t*?? U^prJuvrm - from dlty next yew...with m uten daot Increase Is bankruptcies, more difficult collections, and rising foreclosures. 36. We anticipate a year of rapidly shifting attitudes toward the stock market and toward grosfM of stocks aid individual Issues. Early year upsweep in business aid selectively higher profits - combined with a li beral supply of money following the Fed's huge outpourings in 1967 - should pave the way for further progress by die popular stock averages. Later, as die battle gainst inflation intensi fies. the atock market may be come subject to a painful re assessment. 36. A year ago we predicted tha in 1967 die "old aristo cracy of the blue chips based on past performance" would, "be replaced by a new aris tocracy of super-able manage ments have just plain become overvalued in the marketplace. We believe it will be unwise in 1968 to chase after such. 37. As a consequence of the developing money squeeze, high-quality (only) bonds of long, maturity - botn taxable and nontaxable should provide ex cellent long-range investment opportunities for those seeking income during the first hal? year. 38. If we are correct in the above as sumption., we cannot be far wrong in predicting that the better electric-utility common stocks may also prove to be outstmdlng purchases for long term growth. 39. Among the "old aristo cracy of the blue chips" there are a number of industrial areas that have been pounded down in price to a point where real solid substance Is clearly visi ble. One such group Is the che micals. The old line major com panies here - ones that en joyed s great bull market in the1950s - ma^ be in a buying raigedur 40. Still not among today's much sought-after ^'perfor mance" stocks...the bigoiultl ple-risk Insurance concerns represent another type of equity Investment that could welhaf ford high opportunity over an extended period of time to those who have the courage and fore sight to pick them up when they have few friends. And they may have more "glamor" thai many think... as they are showing a developing trend toward "con glomerating." 41. Another group that could reach long-term buying levels next year is banks. Although their profits are up now, they have not been popular. The rea son: Every period of money squeeze raises doubts as to the degree of "wringing out" that bond portfolios aid loans will have to take when money pass es its crisis. That time may come during 1968. 42. High money rates have raised havoc with die prices of many of the large finance com pany stocks 'listed on the N. Y. Stock Exchange. Some of these have broad 'holdings in other lines; yet they are selling close to their "cellar" lows. When money rates froth up and crest over next year - as we predict - a good investment opportunity will oe presented in this group. 43. It seems almost a fore gone certainty that auto produc tion will soar...when the strike struck plants finally get back to work. For a while then there might develop a speculative wave in these Issues. But we predict it would be unwise to chase after auto stocks on any great early-year strength. They are cyclical in nature, aid may experience some rough going during the upcoming battle aga inst inflation. We think there are better opportunities in strongly situated agressive merchandising outlets. 44. Despite pressures to cut back on spending next year, there will be a renewed flare up of the anti-ballistic-missile spare. Look for additional ap propriations to build a thicker shield than the thin one pro posed by Mr. McNamara. This flap will be accompanied by a renewed buying wave in stocks associated with the program. 45. When discussion of inflation get into high gear in 1968, at tention will again b$ focused on ways to "protect"' against it. You will be told to buy stocks as a hedge. But remember then that stocks go up because their earnings climb, not because they are a "hedge against in flation." We predict that many will find to their sorrow that stocks hastily bought as infla tion "protection" had no such value. 46. There will also be a great bussing in the coming months about gold stocks as a way to to make money out of a dollar jump in the price of the prec ious metal. The devaluation of the pound caused a big rush into gold stocks Since the dol lar will not be devalued in 1968, we warn recent purchasers of such issues that they may have losses for a long time; altho ugh they may be right on some distant day, not next year. 47. We predict that a number of huge international concerns with shares traded in the U. 8. and not subject to the interest ket-may do better than gold stocks during the year now op 4?. War isues-so-callecf stocks-may not do so wall in IMS as equities of those con- . cerns that will benefit from an ] end to the war buildup. Do not ' get "locked into" war stocks. . . simply because they boast high current profits and order backlogs. 40. Building issues are excel lent examples of peace stocks They look a little high now fol lowing 1967*s recovery in borne building; however, we predict that when the money pressure gets intolerable sometime next year, there may develop anoth er opportunity to get into buil ding equities with an eye to fu ture substantial gain after the Viet phaaeout. SO. In conclusion, under the stimulus of the Fed's 1987 "money bath" - and spurred by heavy strike-catchup output and strong activity to hedge against coming labor stoppages I - business could soar during some of the early months next year. Gross National Product and the Fed Index of. Produc tion will both advance smartly. Sooner or later, however, the government will have to beat back the onrushing inflation. We do not believe that the Am erican people will stand by and see their great country scuttl ed. And when the money man agers stem the money flood - and the Administration and Congress shrink the budget de ficit- the upthrust of business and profits will be curbed. This may not be so pleasant for a while. It could be down right unpleasant. But it will surely hold far greater promise for a longer and sunnier to morrow. March of Dimes babies are born each year with a defect, and an estimated IS million persons of all ages have one or more defect that affects their daily Uvea." The Directors said that the March of Dimes, which won the fight against polio, attacks birth defects by financing re search and su porting more than 90 birth defects centers at major medical institutions throughout the United States. Mrs. Lee is a graduate oi the Charlotte School of Cosmetolo gy and has worked in the field of Real Estate. She is past president of District IV of the V. F. W. Auxiliary; Vice-Presi dent of Wallace Democratic Preinct; has been president of Duplin General Hospital Au xiliary for seven years; a member of Wallace Woman's Club and active in other civic and community affairs. Mr. and Mrs. Lee are the parents of three sons and the family at tends the Wallace Methodist Church. Mr. Whitaker is a native of Alamance County and was with the Highway Patrol for eight year. He has been Chief of Police in Wallace for the past sixteen years. Mr. Whitaker is a member of the Shrine Club and has served as president of the Lion's Club. Mr. and Mrs. Whitaker, and their three sons, attend the Presbyterian Church in WaUace. "A fine example of what can be done is seen at our Birth Defects Treatment Center in Chapel Hill and our Birth De fects Evaluation Center at .the Western CaroUna Center in M org ant on. The point is that we need more such centers not only in our State, but in many others. "In our State alone," they said, "every year there are an estimated 6,900 babies born with defects. How long can men and women of good will tolerate the suffering and hear tache that this total repre sents?" Calypso Continued From Pi|e 1 a charge of assault with a dead ly weapon. Lonnie Rouse, 51, was admit ted to the hospital, and is re oorted to be in fair condition. The other man, Archie Lewis, was treated and released. The -shooting took place in Harvey Wall's roadhouse in Calypso about 7 p.m. Investi gation into the circumstances is being continued by Duplin De puties Alfred E. Basden and Glenn Jernigan and Constable Jimmy Kelly. Winner Continued From Page I of Concord Baptist Cnmth. They have one son, Dan Bishop who has just completed six months active duty with the National Guard at Fort Knox Kentucky. Freak Accident Continued From Page I delivering freight to the Civil- . ion Defense Office In Kenans ville to be stored in the base ment of the Duplin County JaiL In passing under the wires on Seminary Street, leading west from the Court House wires were ripped from the uti lity pole beelde H. L. Stevens -: i \ mT-?^ '""JTl'Z6 A H electrical current waa off Mar. |jr an hour in Kenansvilfe Warsaw and Beulavflle Rotary Hears Christms C?atoned FMs Pan 1 I lived. Ha did dom of the things one usually stiociataa with greatness ?He had no creden Itials but Himself, yet every seventh day of the wheels of . commerce cease their tnrniiw: and multitudes wend ihrir way to worshipping and to pay homage and respect to ffln. The names of the past ground statesmen of Greece and Bone have come and gone; but the name,of This Man abounds mora and more. lima haa spread 1900 years between the people of this generation and the scene of His crucifixion; at the time He was thirty-three rears old and the tide of pub lic opinion had turned against aim because His teach ings of j rtghtaousness were contrary to heir ideas. He was betrayed >y His own disciple. His fri ends ran away. Ha waa tuned over to His enemies and went through the mockery of a trial. The thirty shekels for which Judas sold Him were north $18.36. but don't forget, we have often acrid Him tor lose. I At the instigation of the Jews, ? the Romans nailed Him to a cross between two thieves. While He was dying, His exe cutioners gambled for His ciouuiig, ww wuv had on earth. When He waa dead He waa laid in a harrow ed grave through pity of a fri end, and roae on the third day from the dead, and ascended, at St. Luke baa put on record, t from the summit of the Mount of Olives, in a cloud into the infinite expanse of the Heavens. With this Resurrection He has left to us a legacy that we will. never have to face tomorrow alone. This God-Man, He Who died with a spear through a breast bruised with our sins. Whom we honor today, went through all this?This Man Whose soul was tempered by a large charity that proceeded from a Divine understanding and an Infinite power of com passion. Yes, He still lives. Herod could not destroy Him and the grave could not hold Him. Nineteen hundred years have come and gone and today He is the Central Figure of the ftamancnne aedtheLeader of mankind's progress. All the armies that ever marched, all the navies that ever sailed, all the parliaments that ever sat, all the kings that ever reigned, put together, have not affected the life of man on this earth as much as That One Solitary Life. He stands forth, today, upon the highest pinnacle of heavenly glory, proclaimed by God, acknowledged by Angels, adored by Saints and feared by ' devils as the Living Lord and Savior, Jesus Christ. Such, in brief, is the story of the most Remarkable Personality the world has ever known, our greatest teacher. E. B. "Red" Boyette presid ed in the absence of President Richard Cavenaugh. Fellowship Chairman Robert West presen ted the following guests: John Soles, F. H. A. Supervisor for Duplin- County; Rev. Bill Crowder, Pastor of the Warsaw Methodist Church; and "Chip" Ausley, son of Dr. Mett Ausley. _ _ ?? Students on Honor Rolls At College Wayne Community College, Id recognition of academic achievement during the Pall Quarter ot flda yaar, has nam ed to the Dean's List tkoaa stu ds t>U who made all A's while taking 11 or more quarter houra. They Included Melbe Geraldlne ' I Blackmaa ct route 1, Newton Grove, a Practical Nurse stu dent. Named to the Honor Boll, for making a "B" average, with I no grade below "C" while tak ing 12 or more quarter hours were Bobby Franklin Herring, route 1, Mount OUve, in Ac counting; Durwin L. Nee?a, route 1, Falson, and James Thomas Taylor, Jr., route S, Falson, both students In the Diesel Mechanics courses; t Edgar Alvla Rouse. Warsaw, In Electronlca; Jeanne Price, route I, Seven Springs, Executive Secretary; Orion R. Blissard, route 1. ^eimi^vllU, Forestry;^ Alflreg ^ M m PIP 1 ? , ' ? 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The Duplin Times (Warsaw, N.C.)
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Dec. 28, 1967, edition 1
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