North Carolina Newspapers

ALL WHO READ READ THE NEWS-TIMES 49th YEAR. NO. 104. CARTERET COUNTY NEWS-TIMES •«' ~ EIGHT PAGES MOREHEAD CITY AND BEAUFORT, NORTH CAROLINA TUESDAY, DECEMBER 27, 1960 PUBLISHED TUESDAYS AND FRIDAYS Babson's 1961 Forecast This year I have divided my fore cast into eight sections. Instead of covering general business as a separate topic, I am sure that a reading of the following will give a clear idea of my thoughts on general business. POLITICS, AND THE PRESIDENT .. I do not expect any big changes under President Kennedy. If he had won by a landslide I would be quite worried, but with a nar row plurality in the electoral col lege and only a small fraction of 1 per cent over Nixon in the total popular vote, I think that our new President will be very much on his good behavior. Certainly he will not have much influence with either the Repub licans or the Conservative Demo crats of the South. He may make radical recommendations in his inaugural address to “save face," but most of these will not become legislation. He will recommend certain new welfare legislation, which will in clude medical care for the aged, an increase in Social Security, a new minimum wage, increased public housing, help for the dis tressed areas, and more aid for .education. COMMODITY PRICES AND GOLD Higher prices of commodities at the retail level are more or less certain, but wholesale prices will probably decline in most instances. Prices will not rise because of in flation during 1961. The first of the price advances will be ab sorbed by the manufacturer. Ow ing to the increased competition in all lines, wise manufacturers and retailers will keep their sell ing prices down. ' This means that their profits will be less if they are unable to re duce their own costs. All of this means that general business may show less increase in activity and profits in 1961 than in the previous year. Now, in relation to gold: Three fifths of the Free World’s gold comes from African mines; one fifth from Canada; and the bal ance from the U.S. and elsewhere. There are many rumors that the U.S. will devaluate”, creating a higher price for gold. This will not happen during 1961; and I think that the price of many gold stocks will decline during .1961. The very discussion in Congress of possible devaluation would cause us to lose more gold. Ev erything Will probably be done to .avoid such a discussion and I be lieve President Kennedy will pub licly state that he is opposed to it. Temporarily, dollar devaluation might be a shot in the arm for American business, but it will not cure the cancer or whatever else | is causing the pain. Not only would foreign banks withdraw gold before such legislation was passed; but if such legislation should pass in the U.S., it would be followed by similar legislation in England, France, Switzerland, Germany, and other important countries. I advise investors now to forget this question of gold devaluation and not speculate in gold stocks at this time. Leading gold stocks are now selling 25 per cent or more above theii price of a year ago. Another thing that investors abnuld remember when buying Ca nadian gold stocks is that a num ber of Canadian gold mining com panies are now receiving a sub sidy from the Canadian govern ment to keep them from being •hut down by high labor costs. This subsidy would come off as the price of gold rises. STOCKS AMB BONDS It is unpopular for dm to take a bearish position in my annual forecast. Most of the newspapers and my readers like optimistic forecasts. In all the years I have been making these forecasts, last December was the first time that I refused to take a definite posi tion. At that time the Dow-Jones Industrial Average was 870 and today it is fluctuating around 600. Corporation earategs reports now coming out are not good. In many cases the gross is kept up or per haps increased, but the net is off. Many companies will show a de cline for 1960 compared with 1959. Prosperity has continued so long that most manufacturers, retailers, and consumers are assuming it will last at least another year. I cannot honestly agree with this. Therefore, I feel that 1961 will see lower prices for the Dow-Jones in dustrial averages. I hope that many readers with small business es are showing a profit. Those .who are not should begin to re duce their loans and “trim their sails.’’ In many cases good bonds now yield more than good stocks. This is unfavorable to the stock market and favorable to the bond market. Therefore, I believe that bonds will continue around their present lev els in 1961. Many readers will be wise in shifting now from certain stocks to bonds. There will be reductions in stock dividends; hence it would be mudl better to hold bonds with fixed interest payments rather than riak a reduction in the dividend pay ment of stocks. I especially call readers’ attention to “tax-exempt general obligation municipal bonds.’' These are the fixed-interest mu nicipals of cities with a direct lien on all the taxable property in the city. I would advise against hold ing bonds of such large cities as might be vulnerable to bombing in case of World War III. My favorite municipals are those of the capital cities in the interior of the country; in fact any grow ing interior city should be a high grade investment. These bonds must pay their interest irrespec tive of business conditions. The papital cities are especially helped by having the payroll of the state governments. LIVING COSTS, INFLATION Living costs may rise somewhat during 1961 due to the increase in population and the desire for more comforts and convenience. A per son like myself, who has had chil dren and grandchildren, knows how each succeeding generation con siders as NECESSITIES what the parents considered LUXURIES. This, together with the higher cost of labor, is the primary reason for today’s record-high (127.3) cost of living. As there is only so much land available, rents will increase slow ly. There, however, need not be a higher cost for food. The farmers are constantly raising greater crops which are being processed in more economical ways. The only reason for the cost of food to increase is the dependence of so many housewives on pack age “mixes”. Ultimately all vege tables will be wholly or partly cooked and purchasable in con tainers. Wages will hold up although there will be more unemployment in 1961. This means that take home pay will be less for most fam ilies. Inflation is not to be feared dur ing 1961. With his small popular vote plurality, Mr. Kennedy will be very slow to do anything to hurt the purchasing power of the dollar. Barring World War III, I believe that the dollar will be just as sound a year from now as it is today. Our US dollar is looked upon by the world as a standard. FARM INCOME, PRICES Good crops and moderate prices indicate a fair year in 1961 for farmers. I, therefore, look for a reasonably heavy volume of'-the things formers buy during 1961, inclining equipment for getting on with less help. The farmers can not expect any boom, but profits, on average, should be at satisfac tory levels. My forecast, in de tail, is: Larger volume of marketings should more than offset any re duction in farm prices. Therefore, 1961 cash receipts for farmers should be slightly higher than 1960’s $11,300,000,000 net. 1 further more learn that the Intelligent farmer is reducing his indebted ness, which is always ad optimis tic sign. As I dictate this forecast, I am told that growing conditions are favorable in most sections, with sufficient moisture in the ground and other seasonal optimistic fac tors. The prices which farmers will receive in 1961 for crops will, of course, depend upon weather; but, each year, agricultural sci ence is helping the farmers to avoid early frost losses and to se cure needed moisture. ^ EMPLOYMENT, WAGES, TAXES Strike activity may well be at a postwar minimum during 1961, with any dislocations limited to independent separate companies. First important industrywide ne gotiations will come in the auto industry, but not until September 1961. Railroad workers cannot strike until November 1, 1961 at the earliest. Most steel contracts hold until June 30, 1962. The average employment in 1960 was about 67,000,000 workers. I forecast that 1961 will average a million fewer wageworkers. Coun trywide, unemployment reached as high as 4Vi million in 1960, and for 1961 may hit SVi million. The basic difficulty is that while in dustry is cutting back, the labor force is becoming larger. This means that it will be more difficult for those getting through schools and colleges to get posi tions in 1961 unless they are well trained in business, mechanics, or electronics. Certainly, the de mand for executives will be less in 1961 than it has been for some years. Those executives who now have positions should strive to do better work, not ask for increases, and do everything possible to hold onto their jobs. Labor leaders hope to have a key to the White House with Mr. Ken nedy as President. • This may ap ply to the settling of strikes and contract disputes. The AFL-CIO will influence more votes in Con gress during 1961-62 than in 1959 60. The conservative Southern Democrats, however, will unite with Republicans to block radical labor legislation. Congress certainly will not out law the “right-to-work” legislation which has been passed in certain Conservative states, nor will labor get a revision of the Taft-Hartley Act. Congress will not compel in dustry to collect dues from union members, but may temper the re* Roger W. Babson . . . what’s ahead? cent Court decisions ruling against excess union spending. All the above means that labor will be able to hold its own during 1961 and secure some small in creases in wages, pensions, and improved working conditions; but this may not be what labor expect ed to get from the election of President Kennedy. The federal government will not increase income taxes during 1961; but may close some loopholes and increase certain excise taxes. BUILDING, REAL ESTATE Looking back over the years that I have been making these annual forecasts, it seems that building and real estate have been the last to profit from a boom, and the last to suffer from the following reac tion. Readers all know that from its World War II low point new building, especially of homes, grad ually rose to an all-time high in 1959. Part of this growth has been due to increased population and higher incomes. In addition to the natural growth to which new building was entitled, it was greatly encouraged by loans to veterans without any down pay ment, the acceptance of twenty year mortgages by banks in place of a maximum mortgage of five years, and by subsidies of various kinds. Like all stimulants, how ever, these have gradually become less effective. Hence, a decline in new building and new home con struction is only natural to expect in 1961. I do, however, forecast that a move lor URBAN RENEWAL will be urged and secured by the hew President. This means pulling down the slums of large cities and substituting brick apartment houses with playgrounds. When any new building is built, it in creases the value of the adjoining land and Increases real estate tax es. Therefore, 1961 may see real estate prices hold their own and even rise in certain sections. Small farms near cities will continue to increase in price, and this will be true of most well-drained suburban property. Every family is justi fied in mortgaging to buy a home in 1961, but I doubt if 1961 will be a good year to speculate in real estate. The bloom is surely off in Florida, where the supply of new houses temporarily exceeds the demand. WORLD OUTLOOK I cannot conscientiously close this forecast for 1961 without call ing readers’ attention to the un satisfactory situation that we find the world in today. 1 do not need to comment on Russia or China, as readers are well acquainted with conditions there. I, however, must add that Mr. Kennedy is agreeable to a Summit Conference as he is itching for a talk with Mr. Khrushchev; Ken nedy has already stated that he is willing to put Formosa under the United Nations. Readers should note the head way which the Communists are making in other parts of the world. Southeast Asia, for instance, is a very rich area. It is envied by both China and Russia. We may expect continued revolts in South Vietnam, Cambodia, and Laos. I am especially troubled about the way the Communists are work ing into Central and South Amer ica. I know South America very well. It has virtually no “middle class.” There are a few rich, but millions of very poor. The Communists are organizing great strikes in Latin America. As these strikes accomplish some thing for the wageworkers, they give the Communists good ammu See FORECAST, Page 3) Officer Picks Up Driver Possessing Illegal Booze A New Bern Negro by the name of Morris has been charged with transporting non-taxpaid whiskey and is scheduled to appear in coun ty court Jan. 10. Morris was apprehended on the Mill Creek road at 11:30 a.m. Wed nesday by ABC officer Marshall Ayscue. In his car, an old model Chrysler, were six gallons of non taxpaid whiskey, the officer said. Deputy sheriffs Bruce Edwards, C. H. Davis and Bobby Bell went to Mill Creek and took Morris’s car back to the courthouse where it been impounded. Kenneth Johnson, Harkers Island, Dies After Being Struck by Auto Contract Let for Convention Hall at Morehead Biltmore Dr. Prytherch Dies; Funeral At 2 Thursday Funeral services for Dr. Herbert Francis Prytherch, 62, who died Monday morning at Veterans hos pital, Salisbury, after a long ill ness, will be conducted Thursday at 2 p.m. in St. Paul’s Episcopal church, Beaufort. Dr. Prytherch came to the fish eries laboratory, Beaufort, in 1931 from Milford, Conn. He served as superintendent and director of the Beaufort lab, co ordinator of fisheries for Maryland, Virginia and North Carolina, con fidential observer for the US Navy, and technologist for the branch of commercial fisheries of the US Fish and Wildlife service. During 1931 and 1932 he con ducted studies and experiments from North Carolina to Pensacola, Fla., on spawning of oysters. Dr. Prytherch made numerous experiments on natural oyster beds on the Carolina coast and develop ed a new method of opening oys ters, clams and other marine bivalves. While serving as chairman of the conservation committee and as president of the North Carolina Fisheries, Inc., he was responsible for the construction of several plants along the coast for storage, canning, freezing and processing Dr. H. F. Prytherch . . . funeral Thursday of seafood products in an effort to boost the low income of Tar Heel fishermen. An oyster pest control project, studies of the effect of crude oil pollution and investigation of oys ter mortalities were among his other accomplishments. In an autobiography, Dr. Pry therch states that he donated elev en acres of land on the south end of Fivers Island to Duke Univer sity. On the land now stands the Duke Marine Lab. He served as a member of the following organizations and com mittees: Southern Association of Science and Industry, National Shellfisheries Association, Oyster Institute of North America, North Carolina Self - Help Corporation, North Carolina Fisheries, Inc., North Carolina Academy of Sci ence, Chesapeake Fisheries Com mission, Fisheries Survey by Uni versity of North Carolina, North Carolina Resource-Use education commission and the special shell f.oii commission to study the culti vation and marketing of oysters and clams in Eastern North Caro lina. The Rev. C. Edward Sharp, rec tor of St. Paul’s, will conduct the funeral service. Burial in the church cemetery will follow. The body will lie in state at Brooks Mason funeral home until noon, when it will be moved to the church. Dr. Prytherch is survived by his wife, Mrs. Maggie -Prytherch; one son, Herbert F. Jr., one daughter, Mrs. John P. Betts Jr., all of Beau fort; eight brothers, Morgan of Long Island, N. Y., Elmer of Uti ca, N. Y., Hugh of Albany, N. Y., Mark and Clarence of Bingham ton, N. Y., Charles of San Diego, Calif., Jack of Norwich, N. Y., and Lloyd of St. Petersburg, Fla.; three sisters, Mrs. Eunice Hislops of Utica, Mrs. Catherine Meadows of St. Petersburg and Mrs. Herace Crandall of Binghamton. County commissioners will meet at 10 a.m. Tuesday at the court house, Beaufort • The contract for a new conven-< tion hall at the Morehcad Biltmore hotel, Morehead City, was let yes terday morning to 0. C. Lawrence, Otway. H. J. Williamson, manager of the hotel, said the hall will have a seating capacity of 500 people. It will be attached to the main dining room, which will give the hotel a one-spot seating capacity of 750 persons, he added. This, in conjunction with other public rooms of the hotel, will give a seating capacity of 1,000. The addition is necessitated by the inquiries for larger conventions than Morehead City has been able to cater to in the past, the man ager remarked. Mr. Williamson said, “With the cooperation of other hotel and mo tel operators, Morehead City will be able to handle conventions up to 800 people.” With this cooperation in mind, Mr. Williamson has already book ed conventions for 1961, 1962 and 1964 for 800 persons. He empha sized that cooperation of other ho tels and motels in this area is necessary to handle the larger con ventions. The new convention hall is ex pected to be ready before the con vention season .starts in the spring. Cedar Point Club Will Meet The Cedar Point Community club will have its annual meeting at 7 p.m. Monday, Jan. 2, in the new ly-constructed education building of ,JJt£ Pelletier Baptist church. Awreceot action of the cliib has been to extend its boundaries to include all of White Oak Township. At the meeting all west Carteret residents will learn what united action cab mean in the civic de velopment of White Oak township, the officers say. Club officers for the new year will be elected. Objectives for the new year will be announced. Fire Seriously Damages Home on Christmas Day A home at 1400 Bay St., More head City, was seriously damaged by fire at 3 a.m. Sunday. The fire was one of eight answered by Morchead City and Beaufort fire men since early last week. Mrs. Clara Hankins, 309 N. 12th St., owner of the Bay street home, said it was partially insured. Mrs. Alice Parker and family, who oc cupied one-half of the building are now living at the Edgewater hotel. None of their belongings were sav ed. It is not known how the fire started. Mrs. Bertha Stiles, who lived in the other part of the house, is still there but living in only one room. Furniture and appliances were se riously damaged by water. At 7 p.m. Sunday, Morehead City firemen put out a blaze in a tent on the port. Stacked in the tent were surplus cots. Court Order Finally Gets Fire Smothered Under court order, the offensive, smoldering fish meal at Standard Products Co. was drowned with water Tursday afternoon. Some of the scrap was still burning yester day, but it was only a small amount compared to the smolder ing mass left after the Standard Products Co. burned Dec. 9. James Lupton, Lennoxville road, obtained a court order requiring Standard Products Co. to put the fire out because of the nuisance it was causing. The order was signed by Judge W. J. Bundy Friday, Dec. 16. By Thursday, Dec. 22, the fire was still going strong, so the matter was placed in the hands of the sher iff by attorney Wiley Taylor Jr., who was representing Mr. Lupton. Standard Products owners then agreed to let fire trucks come on the premises and put water on the fire. Elmond Rhue, engineer of the Beaufort fire dtpartment, said 500 gallons of water a minute, pumped J from Taylor’s Creek, was put on the fire for 2'h hours. Employees of Standard Products assisted Mr. Rhue. Lennoxville residents say that since then the sheriff has had to return to the premises to request that Standard Products employees continue to keep smoldering rem nants of the fire under control. y Store Entered Hamilton’s Furniture store, Live Oak St., Beaufort, was entered Monday night, but nothing was missing. The intruders knocked out a glass in a side door which led to the rug and repair shop. Doors to the main part of the store were locked, preventing access to other areas of the building. Beaufort firemen put out a grass fire at 4 p.m. Dec. 19 near Tom Hewitt’s home, Ann Street extend ed; at 12:59 p.m. Tuesday they were called to put out a woods fire on highway 70; an old home owned by the Noe estate burned at 10:10 p.m. Wednesday. It had been abandoned and was in \ state of disrepair. The building was lo cated^ near Broad and Moore streets. At 11 p.m. Christmas day, a grass fire was put out on highway 70 in the vicinity of the drive-in theatre, and at 3:25 p.m. Monday firemen put out another grass fire on highway 70. Morehead City firemen were call ed to a woods fire near the White hurst blind plant at noon yesterday. West End firemen answered the call. Kenneth G. Johnson, 54, Harkers Island, died en route to the Morehead City hospital Monday night after being hit by a car in front of his home on the Harkers Island road. Johnson was the county’s only Christmas'weekend fa tality, although three minor auto accidents were reported in Morehead City as well as a col-* lision on highway 101 at 11 p.m. Sunday. The car which hit Johnson, a I960 Ford, was driven by Bobbie Jean Rush, 17, Beaufort route 1. The accident happened on the Har kers Island road in front of the Johnson home. She said she was headed west at about 35 miles an hour and saw what appeared to be a man stand ing in front of her. She applied brakes, but couldn't avoid hitting him. She told officers that he ap peared to freeze in the road in front of her. He suffered a compound fracture of both legs and a cut on the head. Patrolman W. J. Smith Jr., who with coroner David Munden, in vestigated, said Miss Rush had two passengers in the car with her. An inquest will be conducted by the coroner at 7 p.m. Wednesday in the courthouse, Beaufort. On the jury will be A. H. Finer, W. E. Cottingham, Barden Carrawan, Frank Cheek, James A. Lewis and Lyle B. Pasineau. The funeral service will be in the Pentecostal Holiness church, Harkers Island, but the time will not be set until the arrival of a son from Nevada. Interment will be in the Virgie Mae cemetery. Mr. Johnson is survived by his wife, the former Annie Yeomans; two daughters, Mrs. Sandy Bellone and Mrs. Bobby Hancock, Harkers Island. Four sons, Reis, USCG, Norfolk; Al, USAF, Las Vegas, Nev.; and Barry and Douglas of the home; a brother, Earl Johnson, Harkers Island, and 10 grandchildren. Letter on Fair Acknowledged C. L. Beam, finance officer of Carteret Post No. 99, American Legion, has acknowledged receipt of the minutes of the October agri culture workers’ council meeting. The council made a request at its December meeting that the Octo ber minutes, relating to the county fair, be sent Mr. Beam. In his letter of acknowledgement, Mr. Beam points out that he is not fair manager, but a member of the fair committee. He says, ‘‘So far as I know, there would be no objection to a discussion of reor ganization of the operation of the Carteret Fair Inc.” His letter states that the pre miums paid prize winners at this year’s fair were set by the agricul ture council. At the recent council meeting, premiums were discussed and termed too low. Mr. Beam’s letter concludes: *'I feel sure if you will notify the manager, T. E. Kelly, Carteret Fair Inc., that he will either meet with your body or appoint a repre sentative of the fair board and can further assure you the Post is in harmony with cooperative work between civic organizations of the county in setting up and operating a fair that can and should be a credit to the county, the 4-H clubs, Home Demonstration clubs, the Home economics clubs and per sonal exhibitors.” Beaufort's Scene of the Nativity Chnrches of Beaafort cooperated in placing this nativity scene on Front street, Beanfort, between •an and FaUocfc streets. U was viewed by thoosan ds during the Christmas season. Judge Bundy Says Cattle Law Constitutional # Judge Doesn't Uphold Restraining Order • Cattle Owners Expect To Appeal Case Judge W. J. Bundy refuses to up hold the restraining order which has kept sheriff Hugh Salter from taking cattle off Shackleford. The judge has informed county attorney Luther Hamilton Jr. that in his opinion the laws ordering removal of cattle from the outer banks are constitutional. Attorneys Harvey Hamilton Jr. and Charles Stevens, representing Ralph Chadwick and Mrs. Olive Willis, cattle owners, expect to ap peal to the state supreme court. To carry the appeal through, briefs must be before the supreme court by Jan. 24. Judge Bundy heard arguments in the case Dec. 13 at Beaufort and pending his final decision, which was made in about 10 days, he said the restraining order would stand. The restraining order was ob tained by Chadwick and Mrs. Wil lis Nov. 24. It prevented sheriff Hugh Salter from removing or shooting cattle on Shackleford. The sheriff was directed by the county commissioners to take drastic action to get the cattle off. The state passed laws in 1957 and 1959, which order removal of livestock so that vegetation can make a comeback on the banks. Chadwick and Mrs. Willis say they have a herd of 30 cattle on Shackle ford. ASC Sign-Up To Begin Jan. 3 Farmers may start signing up Tuesday, Jan. 3, for financial as sistance through the Agriculture and Stabilization program, an nounces B. J. May, ASC office manager. “If a farmer wants to get fed eral help on a phase of farm ac tivity, he must obtain approval be fore the practice starts, and then carry out the program according to specifications,” Mr. May an nounces. At the conclusion of the work, the farmer must file a report on the practice, reporting its comple tion. Beginning next Tuesday the county ASC office will start ac cepting requests from farmers to have their allotted crops pre-meas ured. The charge is $3 plus $1 per acre, with an $8 minimum charge.. Under this plan a representative from the ASC office will visit the farm, measure the allotted crops and set stakes. As long as the farmer plants within the stakes, the crop pre-measured will be con sidered within the allotment for 1961 marketing quota purposes. Dietitian Expresses Thanks for Yule Favors Miss Stella Propst, dietitian at Morehead City hospital, has ex pressed her thanks to the Brownie troops, Girl Scouts, civic organiza tions, auxiliaries, and churches who contributed to the hospital during the holidays. The hospital received three dec orations, tray favors, gifts and other items and, Miss Propst said, the things meant a lot to those who were confined to the hospital dur ing Christmas. Tide Table Tide* at the Beaufort Bar HIGH LOW Tuesday, Dec. 27 3:54 a.m. 4:18 p.m. 10:26 a.m. 10:39 p.m. Wednesday, Dec. 28 4:54 a.m. 5:16 p.m. 11:17 a.m. 11:27 p.m. Thursday, Dec. 29 5:47 a.m. 6:08 p.m. 12:06 a.m. Friday, Dec. 38 6:33 a.m. 6:55 p.m. 12:44 a.m. 12:53 p.m.