lire Insurance
THROUGH DIVIDCNDS WITH
DtPtNDAlLl MOTICTION!
S. A. CHALK, JR.
Mutual Insurance Agency
Flnt-Citiiens Bank Rid*.
6-4336
Morehead City
William
Penn
Blended
Whiskey
vmua? 1 *10
Plu Is
1*3.35
Are You
Driving a
Sick Car?!
One or more parts affecting
safe operation need servic
ing on approximately one
third of all the automobiles
now in daily use ? here as
well as elsewhere. How do
you know that it is safe to
drive your car?
A great many more than
one car in every three is
wearing out faster than it
should. Depreciation in re
aale and trade-in value is
coating the owner mora
than gas and oil. Are you
losing money that w*y?
Why art start 1953 with the
assurance of safe, economi
cal, dependable driving?
Your car is the first plan to
commence being careful
and thrifty. Neglect may
not cause yon injury or in
convenience b ? t come
spring you are sure to own
a car worth a lot less than
it ought to be.
We have provided every
modern facility for the re
sponsible and economical
servicing of your car ?
buildings, equipment,
tools, parts, materials, train
ed, experienced mechanical,
men. This Investment and
establishment exists only to
make motoring safe, eco
nomical and pleasant.
Why not take advantage of
it?
Parker Motors
Your Chrysler-Plymouth
Dealer
Phone 6-3332
MM Arendetl St
Morehead City
More Than 10,000 People
Read Every Issue of THE NEWS-TIMES
Here's Health!
the Finest Rx
r
Guard your health by visiting jour doctor regularly;
never try to diagnose your own symptoms of illness;
follow his orders closely. You are assured of best
results when we fill your prescription with care,
skill and the finest, purest drugs.
Joe House Drag Stoi
Front St.
Phone 2-3331
Bei
Investing In Needed Car
Repairs Is Like Putting
Money In The Bank
?It pays off, not only in extra driving pleasure,
but in added value, longer car life and money
saved.
Especially when minor troubles are corrected
before they grow into big repair bills.
MOBCEY BUICK CO.
Phone 6-3231
1710 Bridges Morehead City
Cool, Refreshing Comfort
at Home or at Work with
NEW CHRYSLER AIRTEMP
Room Air Conditioner
CHBYSLER ROOM
AIB CONDITIONERS
available NOW on Easy
Term*. Monthly pay
ment* to suit your con
venience.
FREE INSTALLATION
available until April
Open account terms po<
?ible for payment by
June 1st.
Exclusive Dealer in Carteret County lor
Chrysler Airtemp Residential and Commercial
Equipment
SALES
HEATMG JUn COOLING
120 Craven St Phone 2-7091 Beaufort, N. C.
nm TO
look tr ove* t
/
\
Warm weather , . . faquir picnic* . . .
Sunday drive* . . . they're on the way.
And that mean* it'* tint* to have our
matter mechanic* look your car over,
and make adjustment* far a Spring and
Summer of ?-m-o-o-t-h motoring. Drive
up today!
PAUL MOTOR CO.
H. D. Pawl, Mgr.
DODGE-PLYMOUTH SALES 1 SERVICE
Telephone
(Continued from Page 1)
listing deductions and too skimpy
in reporting his earning!.
The company officials presented
a far different picture: a hard
pressed taxpayer who had done
his best to report the correct
amounts and no more.
Mr. Lake challenged earlier tes
timony that the company had troub
le selling stock and obtaining cap
ital at reasonable interest. He
brought out that was able to at
tract about $26,000,000 in new Cap
ital at no more than six per cent
interest.
The general counsel for the state
and the public also' brought out
that the company is able to pay all
expenses, taxes and fixed charges
and still pay its regular $8 divi
dent and set aside a surplus. The
company had claimed that it could
not realize a reasonable profit un
der present rate schedules.
He also brought out:
1. That $22,200 more was avail
able for CT4T stockholders last
October than last June.
2. That the company's net oper
ating income increased $14,000 be
tween June and October which, he
claimed, meant that the company
is gaining headway over its ex
penses faster than it had indica
ted.
3. That increases in the cost of
materials and equipment used by
the company are tapering off and
now are running at less than the
company's records show.
4. That each new telephone add
ed since last October is bringing in
more revenue with the result that
the company's earnings are rising.
5. That the rate base used by
the company in figuring its rate of
return apparently is larger than it
should be.
6. * That at least a part of the
rate base reflects sizeable invest
ments in materials, supplies, land
and other property which was not
actually used at the time the com
pany prepared its case for the util
ities commission.
7. That the company will be
able to clear enough on the basis of
its net income last December to
pay all its expenses, fixed charges
and interest and add to its surplus.
8. That CT&T stockholders are
able to buy at $100 per share stock
which can be sold on the open
market for around $145 per share
and that approximately one-third
of CTftT's common stock is held
by Southern Bell Telephone com
pany.
9 That if the company would
adjust its books in accordance with
sound accounting practices the
'Cotrfplhys earnings would appear
substantially greater.
The company contended, how
ever, that the figures cited by Mr.
Lake were not typical of its over
all operations. Mr. Havens con
tended Lake was putting too much
emphasis on last October. In eas
tern North Carolina, Octob?r is a
harvest month, and a month in
which all business, including the
telephone business, does well.
Moreover, he claimed, the com
pany had deferred some main
tenance work between June and
October with the result that Octo
ber figures did not present an ac
curate picture.
Mr. Lake was not impressed.
"Then let's fllke another month,"
he suggested. 'Let's take Decem
ber."
And taking December, he set
down, point by point, at least to
his satisfaction, that CT&T still
could not show why it should be
allowed to raise -its bills.
"We have shown three errors in
your records," he said at one stage
of the cross-examination.
He ticked them off as follows:
1. By improper accounting prac
tices you have understated your in
come by $68,000.
"2. In the same manner, you
have credited $761,000 to your rate
base as plant in service when it
really should have been aet out
as telephone plant under conatruc
tioo on which interest had been
capitalized.
"3. You added to the rate base
$753, 0Q0 for materials knowing that
not one dime of it had been spent
hy your company for any purpose
whatsoever."
And, he added, the company was
carrying in its rote base an allow
ance for cash working capital
"when as a matter of fact not a
cent of it is contributed by the
stockholders."
The item, a controversial point
in several recent rate cases, rep
resents an amount equal to ap
proximately one-twelfth of the
sum a utility spends in a year for
operations. Mr. Lake consistently
has argued that the allowance is un
reasonable. As grounds for his
objections, he claims that utilities
are able to use tax accruals for
working funds and that tax ac
cruals ? funds held for future pay
ment of income taxes are both
tax and interest free.
Oliver G. Rand, Wilson city at
torney. was scheduled to take over
the battle at yesterday's session
of the hearing Mr. Rand is serving
as counsel for a rate committee
formed by CT&T subscribers in
46 eastern North Carolina commun
ities.
The battle against the rate in
crease is being led by the Wilson
chamber of commerce whose ex
ecutive secretary, J. B Parramore,
organized the opposition to the
increase.
Among the witnesses expected
to testify yesterday was Laurcnce
B. Maddison, Scotland Neck ac
countant, who has been hired by
the committee to study the com
pany's rate structure and financial
operations.
Two company lawyers, Chauncey
Leggett of Tarboro and W. T. Joy
ner of Raleigh, were to handle the
'cross-examination of the witnesses
I for the protesting group.
Cowriy Agents to Discuss
Jnnior Dairy Show Plans
J. D. George, extension dairy
specialist from State college, will
discuss plans for next fall's junior
dairy calf shows at today's meet
ing of the five-county agents group
in Jacksonville.
The group is made up of county
farm agents from Carteret, Craven,
Onslow. Jones and Pamlico coun
ties. Carteret county will be repre
sented by R. M. Williams, county
farm agent, and A1 Newsome, as
sistant county agent.
License Revoked
The driver's license of Roland
Grant Miller of Morehead City has
been revoked, according to an an
nouncement by the North Carolina
state highway patrol. Miller was
convicted of drunken driving Feb.
16 in Morehead City recorder's
court.
GREAT
OAK
I Mai** ** I
j Austin^tichols !
I rrsrszL.
DID you mow?
BAD SPARK PLUGS
Will Coum Low Gas Mileage
LACK OF WHEEL BALANCE AND ALIGNMENT
Will Coum Tir* Wear
BAD BRAKES
May cost a Ufa
For top performance of your automobile
bring it >a to u* for ? complete check-up. We
have the latest equipment, Genuine Ford
Part* aad Ford Factory Trained Mechanic*'
to do the job right.
Remember, for e limited time only we are
offering a
11% DISCOUNT
On all Ford Part* in* tailed by our Repair >
Department.
Cell on u? for a free estimate today. We
have the PARTS, we here the EXPERI
ENCE, and we will take the TIME
LOTTO MOTOB CO., he.
Miss Ann Gamer
Is in Festival
Miss Ann Garner, a junior in the
Morehead City high school, has
been selected to be an attendant
to the teen-age princess during the
annual Azalea festival in Wilming
ton beginning Friday afternoon.
March 27.
The daughter of Mr. and Mrs. A.
M. Garner of 1808 Evans street.
Miss Garner will represent the
teen agers of Carteret county in
the pageant.
After a tea Friday afternoon, the
princess will be crowned at a ball
Friday night. Miss Garner will be
a member of the princess' court
during the ball. She will also ride
a float during the parade Saturday
morning.
The festival will be climaxed
Saturday night with the crowning
of the queen of the festival. Sat
urday afternoon. Miss Garner and
the other members of the princess'
court will be taken on a tour of
the Wilmington gardens.
Also participating in the Azalea
festival parade will be the bands
of the Morehead City school and
the Beaufort school.
PINT
?120
'too moor uqum
SOUTHFRN COMPORT CORP.
ST. LOUIS 3. MISSOURI
r
Hour ~w U I' Knows W>Y
[In order for you to
let the full benefit
of your doctor's pro
fessional advice, it b
I -ssential that hit
prescription be accu
rately filled by a
highly skilled, regis
t e r e d pharmacist,
such as we employ
exclusively.
HARDWOOD
FLOORING
^ Select Quality
\ 230
SL "rM
We have juit received a large shipment. We invito
you to come in and let us estimate the cost for new
flooring in your home.
ALLEN & BELL HARDWARE
PHONE 279-1
NEWPORT, N. C.
lAJiimincfton
cn (LJioom
At this season of the year Wilmington is in bloom
? literally. North Carolina's port city on the Cape Fear
has become nationally famous for Its asaleas. Its festi
val there each spring attracts hundreds of thousands
of visitors from far and near. The festival' begins this
year on March 26 and reaches its climax with a parade
of floats and the crowning of the Azalea Queen on the
twenty-eighth. Plan now to see Wilmington at its
* beautiful best*
BL
Morning
A tow mltos from Wil
mington another plant to
bloraoming on the Cape
Fear ? a ?(?am electric
generating plant which
when completed will
hart a capacity of 300.
000 honepower for a
growing Eastern North
Carolina ?
(CAROUNA POWER & UGHT COMPANY)
..-saLi