Page 4
Liberty Reports
Earnings Up
THE KINGS MOUNTAIN HERALD. KINGS MOUNTAIN. N. C.
ThursHay. FeHruary 2^, 1^70
The Liberty Corporation re-,
ported today that 1969 profits on'
a preliminary, unaudited basis:
were 26.4 per cent higher than
1968 results. I
Qmsolidated net earnings for
the Greenville ba.sed diversified
company were $7.37 million,'
equal to $1.0.5 per share, com-,
p ed to ,$5.83 million, or 8,3c iier:
share recorded in 1968. Gross'
revenues amounted to 83.83 mil-1
lion in 1969, a 12.4 per cent in-
cr(!ase over 19()8 revenues of
$74..5f. million. i
Fourth ciuarter earnings in 19t>9
were $2.42 million, equal to 3,5c
per share. Gross revenues for the
same period were $22.28 million.
New Tax Law
Is Reviewed
Area Students
On Dean's List
Greensboro — Many taxpayers r
appear to be needle.ssly delaying |
filing their fedi?ral tax returns
by waiting for additional instruc- .
lions on the new tax law. .Most!
of the changes made by tlie Tax
Hefoim Act of 1969 relate to 1971)
and later years, and affect only
a small percentage of individual
income tax returns for 19()9, Ills
said.
Changes affecting 1069 returns
are listed as follow:
1. Under the new law, a lax
payer whose homo is damaged by
.storm, fire or other ca.sualty does
GRLENSBORO — leresa Jane
Jolley Sugg, a senior, the daugh-|
ter of Mr. and .Mrs. T. II. Jolley of
111) S. Cansler .St., Kings Moun
tain, is one of 80 students at the
University of .North Carolina at
Greeasooro who mtidr' all A’s on
'ourses completed during the
ir:it s<‘mester which ended re
cently.
Altogether, three UNC G stu
dent- from Cleveland County at-
‘ained the honor roll during the
first semester.
HOW MUCH 1$ YOUR
EQUITY WORTH?
\h
A4A^/y HOM£Om£R$ CARRY SN0U6H mUR-
ARCS TO COYiR TUB N(ORT6A6£-eUT ROT
TR£tR OIR/Y Bawry. PBOTBCT VOURiBLf
—ASR YOUR AOBNT OR BRORERf
The other students are: Caro
lyn Jean Lackey, a iunior. the
daughter of Mr. and Mrs. Frank
lin H. Lackey of Box .56, Fallston;
and Anne F. Trammell, a .senior,
the dauughter of Mr. and Mrs.
"). H. Trammell of 902 Buffalo
st. Shelby.
The honor r.)ll at UXC-G is
:.'omposed of stutlents whose se-
ne.ster grade.s are in the upper
'ight percent of the freshman
•lass, the upper 10 percent of the
iophomcre cla.ss and the upper 12
oereent of the Junior and senior
l,ss.ses re-.ppctively. Altogether,
5.39 UNC-G student.s out of a total |
'n1ergradu:ite enrollment of 4,-
S65 att.ained the honor roll. UNC-
1 also h.as over 1,.500 graduate
students.
Petroleum refining is a major
industry at Bayonne, N. J.
I INSURANCE INFORMATION INSTITUTE I
not have to pay tax on the in
surance proceeds he receives for
temporary living expenses. The'
amount not subject to tax is Umil- j
ed to actual exixmses that are'
)ver and above normal living ex-i
ix'nses.
2. Sales of real pro[K'rty and
casual sales of pr'rsonal property
made after .May 27, 1969, for a
price of more than S1‘X)0 are sub
ject to new rules in cases when
the seller reports his gain in
installments extending over two
or more years.
3. The inve.stment credit in
most cases ended April 18, 1968.
the 1115 said. However, the in
vestment credit is available for
property bought, built, or rebuilt
under a binding contract entered
into before April 19, 1969, or in
certain other transitional situa
tions.
HEART FUND DRIVE UNDERWAY—Rings Mountain's 1970 Haost
Fund Campaign is continuing and driTe leadexs ontieipate the
goal of S3R00 will be suipassed when final reports ore com
pleted Satnrday. In the i^togroph, city officials are shown
installing a streamer, "Give To the Heart Fund" which stretches
across a street in downtown Kings Mountain.
Rare Eclipse'
Is Schedule'*
North Carolinians -will be able!
to observe a rare solar eclipse via
television on Saturday, March 7,|
from 1 to 2 p.m. The CBS-TVl
news .special, “Earth in thej
Shadow of the Moon—The Solar I
Blclipsc,” will feature the first,
solar eclipse completely covered!
by television. The program willi
be sponsored bv Western Electric. I
eclipse. The path will extend
across the neck of Florida, along
the east coast of Georgia, South
and North Carolina, and then
out to .see east of Washington,
D. C., Philadelphia, New York
and across Nantucket Island.
n
Cffi will colorcast the event
from high-flying aircraft and
.several ground locations along
the 82-mile wide path of the
Television will provide viewers
throughout the nation with full
coverage of the solar phenomenon.
Non-TV viewers in other parts
of the country will see a partial
eclipse in varying degrees.
On December 20, 1879, Southern
Bell was issued a charter in the
state of New York.
NOW reduced
below nationally
advertised price
-mote
mattress
: •$:
S. Battleground
Think of it! You can buy
for your own home—at
less than the nationally ad
vertised price—the same
mattress that value-wise
hotel and motel buyers
across the U,S. have ap
proved. It meets strict
hotel specifications for
comfort, quality, dura
bility. A not-to-be-missed
opportunity. Check these
features:
■silt to Ssoly’s HsIsl-MsItI
spscificatioos
Pre-Bsilt crssIhprMf borders
Hesvy-Dsty dvrible wsvea
cover for service
4 Cord Hoodies o Air Vents
Uphelstered with fine qsolily
felt for oo-ceil feel
Hundreds of resilient ceils
• Matching lax Spria|....$33
Kings Mountain | Phone 739-5451 * 126 West Mtn.
Seed Outlook
Is Presented
With one or two exceptions,
Tar Heel farmers can look for
ward to an ample supply of qual
ity seed as they approach the
1^0 planting -season.
Foil McLaughlin, director of the
Crop Improvement Association at
North Carolina State University,
said the seed outlook for the
year is as follows:
Corn—Seed quality Is outstand
ing; supplies of most varieties
are ample.
Soybeans—Seed quality Is ex
cellent with the exception of the
York variety. Farmers should be
able to find both the quantity
and quality of soybean seed that
they need, however.
Peanuts — Supplies are about
the same as last year, but germ
ination appears to be much bet
ter.
Cotton — Quality is lower than
last year. Certification standards
have been lowered from the nor
mal 80 to a minimum of 70 per
cent germination. Seed between
70 and 79 percent will be labeled
"Substandard In Germination.”
Sweet Potatoes — Seed stocks
have been inspected in storage;
the quality is excellent.
In discussing the seed outlook,
McLaughlin reminded farmers
that good seed seldom 'accoimt
for mor^ than 2 percent of the
total investment in a crop.
“Thus, it pays to plant the best
source of high quality seed, such
as certified seed.” he said. Cer
tified seed have a known pedi
gree. They are field inspected,
laboratory tested, tagged and
sealed.
Th
NEW JAYCEES INDUCTED — Tha Kings Mountedn JnyCBWi in
ducted several new members at a recent meeting of the esgoBl-
ration when State Jaycee President Jim OUie wos guest spsokar.
From left to right: Jim Corrigan, Kenneth McAbee. Jhh Falls,.
Pete Putnam, Tom Boird, Tony Dovidson, Lorry Spell, Jimmy
Jenkins ond Stote President OlUs. Net pictured is another new
member, Roy Ruff. (Photo by Bob Myors)
North Carolina, with 52,712 j North Carolina ieads the na-
square miles of land area, ranks j furniture and brick. Textiles is
28th in size in the United Stales. |tion in the production of tobaetje,
The state spans 503 miles. ,, | the state’s leading industry.
St. Paul's
Group Meeting
Vo. OLe WLo Cc
JUWkRE
HAIR .
are
• ShantpM
with Prottin
> Setting
Lotion
CARE ^
PRODUCTS
e Shempoo
for Dandruff
>Hain
iirmrey
Gentle or
Herd to Hold
o Clans
Rinse
Members of the Kings Moun
tain Improvement As.sociation
will meet Sunday at St. Paul'
Methodist church at 5 p.m. Invit-1
ed guests. Miss Linda Ross and |
Mr. Randolph Ross. All interested I
citizens are invited.
GRIFFIN’S DRUG
YOUR P.135Cl-';irVIOM STOilF
.'iCk 6"''^ ■ Pi^L/Vc .^^y
PHONE 739-4721 ■ 129 MOUN ) AIN4T'
HOME .SAVINGS
And LOAN ASSOCIATION
Announces New Higher Rates
on New Savings Certificates
SI0.000 minimum
2 years
$5,000 minimum
1 year
$1,000 minimum
6 months
New Passbook Rates
PASSBOOK SAVINGS
Beginning next calendar quarter. Add or
withdrow any amount, anytime.
PASSBOOK SAVINGS
Minimum to open account $100.00. Add any
amount, anytime. 90 days notice to with
draw (except first 10 days following end
of colendar quarter).
Home Savings & Loan Assn.
Open Mon.-Thurs. 9 to 5—Fri. 9 to fr—Closed Saturdoys
Plenty of Free Parking Space
Drive-In Window Service
O)
(#