Today’s Investor
By THOMAS E. O'HARA
Chairman, Board of Trustees
National Association of Investment Clubs
Q. Stauffer Foods stock prices
have taken quite a dip since its
president remarked that quart
erly earnings will not reach their
predicted amount. Haw do you
explain this when the company
has had excellent growth and
aggressive development for some
time?
A. Stouffer Foods has been
Belling at a relatively high price
earnings ratio and its dividends
have been rather small. This in
dicate# to me that Investors have
been buying it as a growth stock.
And Stouffer has been growing
at more than the normal rate
the last few years.
'But, when such a growth com
pany experience problems, people
tend to hold back further pur-'
aliases until they are satisfied the
problem is temporary and will be
overcome by the management
In addition, in Stouffer’s case
Agriculture
In
Action
THE FINE PRINT
A lot was said about the far
mer’s need for more bargaining
strength aa the nation’s largest
general farm organization recent
ly conducted its annual meeting.
A lot more needs to be said. If
the predictions of a speaker at
that meeting of the American
Farm Bureau come true- it is bar
gaining power that is going to
be the fanner’s saving grace in
the yeans to come.
Within ten years, predicts tile
manager of Farm Bureau’s na
tional marketing operations, Half
of everything produced and sold
by American farmers will be
grown and marketed on con
tract.
To put it mildly, many farmers
who have produced and under
contract don’t have particularly
pleasant recollections about the
outcome The farmer’s main pro
blem has been simply a weak
position. He could sign an agree
ment, but he had little power
to influence the terms.
Getting closer to the core of
the problem, the farmer’s weak
position could be attributed main
ly to his history of operating
alone. And it took awhile for
him to realize that he had a lot
of potential muscle if he would
get together -with his follow far
mers and operate through group
action.
Now, as contract farming be- i
comes more prevalent- group ac
tion on the part of farmers is
becoming more prevalent too.
Farm Bureau is becoming the
rallying point through its grow
ing number of commodity mark
eting associations.
The marketing association con
cept was organized by Farm
Bureau on a national level in
1960. Producers of 22 different
commodities across the country
are now finding bargaining
strength through their Farm
Bureau associations, which are
carving Out better contract terms
and better prices for producers.
Farm Bureau neostree
Marketing associations have al
ready been organized by the
North Carolina Farm Bureau for
dairymen, apple producers and
broiler growers
If farmers take advantage of
the marketing association move
ment, they won’t have to worry
about the fine print anymore.
They can help write it.
the cash dividend was eliminated.
! This reduced the interest of peo
i pie in the stock who want some
immediate return for it.
Q. How can I tell when a grow
ths company is about to stop or
slow up in its rate of growth?
A. A company’s growth is us
ually diue to the drive of manage
ment. In a very small company
this might be the aggressiveness
of just one man. If he--or the
group of few men at the top
leaves the firm, you might be
on guard to see if the company
maintains its upward trend.
Unfortunately, this might not
be immediately discemable. You
may have to watch the company
for two or three years to be ab
solutely sure which way it is
moving.
Where a management has been
"growth” motivated, watch for a
change in dividend policy. If the
management has been paying out
only a small fraction of earnings
as dividends and then begins to
pay out 70% to 80%; it’s likely
they are not planning on building
more new plants.
O. I see many companies grow
ing today by buying up other
companies. Is it a good idea to
invest in a company because it
has just bought another com
pany?
A. Not necessarily so. Some
companies buy other companies
and after a few years sell them
off or go bankrupt because they
weren’t able to operate them suc
cessfully. When you become in
terested in a company because
you've read that it has bought
another company, look at it's
history. If it has bought com
panies before and made a suc
cess out of running them then,i
buying it - providing you pay a
reasonable price - is probably a
good idea. Textron- Litton, and
I. T. & T. are illustrations of
companies which have prospered
by buying other companies and
operating them sucessfully. If
the company has not been suc
cessful with a past purchase or
is making it’s first purchase,
I’d stand on the sidelines for a
while until it proves it is suc
cessful in this kind of operation.
BOX OFFICE OPENS AT 6:15
SHOW STARTS AT 7:00
I
KINGS MOUNTAIN
and
BESSEMER CITY
I
DRIVE-IN
ALWAYS S1.00 A CARLOADI
THURS.-FRI.-SAT.
— 3 HITS —
— No. 1 —
"THE HUSTLER"
— No. 2 —
’ARRIVEDERCI BABY'
— No. 3 —
'HIGH NOON'*
ON SAT. MOVIES RUN
IN REVERSE ORDER
SUN. Thru WED.
— 2 Hits —
— No. 1 —
"DEAD HEAT ON
MERRY GO ROUND’
— No. 2 —
‘BLOOD ON ARROW'
ON WED. MOVIES RL;,'
IN REVERSE ORDER
FRIDAY ■ SATURDAY
AN AARON ROSENBERG nooucnoi
o w»*a. o>mu
by OIwko
PHEB
SMDAY. MONDAY. TUESDAY
The blockbuster story
of a fighting marine
that comes
mortar-screaming
out of green
hells and jungles!
OBI
UtuReftahw *» .■•'■U C''-X‘ A “r S rft! C tW- 0 . •* i’JWSfe?* |H
TECHNICOLOR FANAVtSiOK FROM WARNER BROS Li
WATCH FOR
1—“RETURN OF THE SEVEN" 2—"MONKEE'S GO
HOME" 3—"THE RELUCTANT ASTRONAUT" 4—
'THREE BITES OF THE APPLE".
Security Bill
Is Introduced
By Whitener
I WASHINGTON, D. C. —€on
i pressman Basil L. Whitener (I>
NC) has introduced a bill to pro
tect the security of the United
i States by providing penalties for
interference with defense security
! systems.
In a statement in the House
of Representatives Congressman
Whitener stated: “Recent inci-j
dents at operational missile sites j
of the United States Air Force (
have highlighted the fact that j
existing statutes are inadequate j
to cope with willful or malicious !
acts that result in activating or
in disrupting our military alert
ing or alarm systems. Unless the
law is strengthened to deter such '
acts, the security of our nuclear j
missiles and other weapons sy-j
stems could be seriously com pro-1
mised.”
Whitener pointed out that se
veral incidents have recently oc
curred where foreign objects were
deliberately thrown over the out
er security fence onto a sensi
tized surface which caused the
j activation of electronic alarms
systems, thereby indicating to de
fense forces stationed miles away
that the missile site had been
penetrated. As a result of these
false alerts military personnel
have been subjected to unneces
sary hazards and normal security
operations were seriously disrupt
ed.
"Because ofthe experiences of
the defense forces with such false
security alarms it is essential that
a specific statute covering this
problem be enacted into law,”
Whitener stated
The legislation would provide ;
penalties of imprisonment for upj
to two years, a fine of $5.000'!
or both, on conviction of any per- ■
son found in violation of it.
Local Serviceman
Saw Bob Hope Show
USS BENNINGTON (CVS-20)
(FHTNC) Jan. 9 -- Shipfitter
I First Class Bobirr O. Smith, USN,
I son of Mr. and Mrs. B A. Smith
: of 818 N. Church St., Kings Mtn.,
N.C., enjoyed Christmas 1966 a
little more, thanks to Bob Hope
and his Christmas package of
1 entertainment.
i Hope and the entertainers were
, aboard the anti-submarine air
j craft carrier USS Bennington on
j station with the Seventh Fleet
in the Gulf of Tonkin, for a
two-day visit.
On December 27, the Benning
ton’s flight deck became a float
ing amphitheater as the perfor
mers, braving overcast skies and
a pitching deck, presented the
two- hour Christmas special.
Jokes, songs, dances and skits
highlighted the show which end
ed with the cast and audience
singing “Silent Night.”
Scouts Launch
Year-Long World
Friendship
Members of the Boy Scouts of
America in Piedmont area will
join millions of nother Scouts a
round the world in a yearlong
World Friendship program that
is being launched this month.
As a part of the With anniver
sary of world Scouting, local Cub
Scouts- Boy Scouts, and Explor
ers are planning special activities
that will be climaxed with Friend
ship Campfires and meetings dur
ing the week of August l to 9
when the XIX World Jamboree
will be held at Farragut State
Park, Idaho, according tx> George
Mauney, the Piedmont Council
chairman for special events.
The theme “For Friendship” j
will be followed by the 8,000
Scouts in this area and will in
clude correspondence, srapbooks,
tape exchanges- projects related
to hiking,and cooking skills from
, other countries, and participation
in the World Friendship Fund
of the Boy Scouts of America.
The Piedmont Council will be
represented at XII World Jam
boree by 12 Scouts and 3 adult
leaders.
Nearly every Scout unit in this
area will carry out a world Scout
ihg activity in co-neetion with
the 57tH anniversary of the Boy
$couts of America which will be
celebrated from February 7 to 13,
Mauney said.
The North Carolia Heart As
sociation warns that the sudden
onset of cold weather poses an
extra threat to potential heart
attack vieims.
BUY KLEENEX
From A Jaycee
Thursday and Friday
Nights
Spice i4>
Following are sugges
tions from home econo
mists in the United States
Department of Agriculture
on the selection and prepa
ration of pork: The meat of
high-quality pork should
have firm, fine-textured
lean, grayish-pink in color,
with firm white fat on the
outside of the cut. Some fat
should be well-distributed
through the lean. Be sure
your fresh pork is thor
oughly cooked. A meat
thermometer is helpful in
providing a reliable method
of testing thoroughness ot
cooking pork roasts. When
done, a fresh pork roast
should have an internal
temperature of 185 de
grees, while a cured ham—
—whole or half—should
reach 160 degrees. For a
cured picnic shoulder, 170
degrees is desirable.
W-D U. S. CHOICE
RIB EYE STEAKS , .
W-D U. S. CHOICE
DELMOMCO STEAKS
U, *1.59
IK 1.19
Limit 1 of Your
With A $5.00 Older
COFFEE
ASTOR BE Cfc ft
CAN
MAXWELL — .
HOUSE f
i-u. »ag
HARVEST FRESH PRODUCE
JUICY FLORIDA
Oranges ... 8 - 49*
WINESAP OR WESTERN DELICIOUS
Red Apples 4 •*<= 59*
FANCY VINE RIPENED *
Tomatoes ..2“39*
FLORIDA PINK OR REGULAR
Grapefruit.. 8 * 59*
PLAY "LET'S GO TO THE RAGES" GET YOUR FREE CARD TODAY!
11 EXCITING WAYS TO WIN!
Win One of S Races..Come In Second (Place) in Any of & Races..Win the “Lucky Double”
w ■ ■■■
PINKY PIG
SLICED
BACON
LB.
PKG.
W-D CRY-O-VAC
BAKING
HENS
E-Z CARVE
50 EXTRA STAMPS with
W-D CHOPPED FROZEN
CUBE STEAK
® ’1.59
W-D 20-COUNT
2-oz. PATTIES
Beefburgers
»‘1.89
SO EXTRA STAMPS «M>
W'D PVM MW
SAUSAGE
w-otll CHOICE
WHOLE tZ CARVE
BEEF MBS
»89<
NEW! W-D VACUUM PACKED
HAM SLICES
ECs?!sr ib 89^
CENTER ' (b QOy
SLICES j/r
CENTER ,, S
SLICES «D
Limit 1 of Your Choice WHh A $5.00 Order
Blue - Whit* or Cold Water ARROW
DETERGENT
VIRGINIA
OYSTERS
79
89
lloi CAN
STANDARD
l2o. Can
SELECT
GROCERY SPECIALS!
MONTI «
THOU KC
CAM
CO
Rl
SUPERBRAND
SHERBET or
Ice Cream
HALF
GAL.
LAND-O-SUNSHINE
BUTTER
4 Quarters in Each Pkg.
1-LB.
PKG.
ASTOR
Vegetable
Shortening
Limit 1 Wth A $5.00 Order
» 59'
FROZEN FOOD
MORTON'S
Cream Pies 4'£99'
SWANSON DEEF DISH CHICKEN TURKEY, BEEF
Meat Pies 2’£99'
DIXIE THRIFTY OR ASTOR FLORIDA
Orange Juice 7£l.
FROZEN NUGGET OR FRENCH FRY
Potatoes ... 3 £ 1.
•ft GREEN STAMPS
w»n nm coupon ANDPUKHASt or
SltM «r Man Order £
JU Ton “
AKM lo Mi
FRESH FROZEN WHOLE
STRAWBERRIES
DOCK THRIFTY OR ASTOR
ORANGE JUICE .
THRIFTY MAID
BABY UMAS
16-OZ. CUPS
2 iov 89c
6-OZ. CANS
7 lor $1
tt-OJL PEGS.
2 for 89c