The Delta Democrat-Times from Greenville, Mississippi on July 18, 1960 · Page 10
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The Delta Democrat-Times from Greenville, Mississippi · Page 10

Greenville, Mississippi
Issue Date:
Monday, July 18, 1960
Page 10
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Delta Democrat-Times JO Monday, July 16, '60 NEWS A N D VIEWS of Delta Business Southerners Spent $57 Billion In '59 NEW ORLEANS (UPI) - Southerners spent a whopping $57,033,000,000 last year for everything ranging from beer to baby buggies. The U. S. Department of Commerce office here said spending by residents of 16 Southern slates and the nation's capitol was a new record, eight per cent higher than the amount spent with retail merchants in 1S58. TljC r e p o r t w a s b a s e d on recent Census Bureau figures and was released Saturday by Edwin A. Lcland Jr., Commerce Department field manager here. He said all divisions of the South's economy showed gains. Food Up 3 Percent Increases ranged from per cenl appliances. three radio and television to an 18 per cent boost in spending for automobiles. Dixie residents spent an average of $1063 for every man, woman and child in the South. Groceries cost about $13.2 billion, a gain of $409 million over 195S. Another W.I billion was spent in enling and drinking places for a total of $16.3 billion for food and drink. Alcholic beverages cost more than a billion and a quarter at liquor stores alone, an advance of about $100 million. Sales of lumber building materials hardware and farm equipment totaled around $3.9 billion for an eight per cent hike. Automobile dealers and gas stations collected $16.4 billion, an increase of some $1.9 billion over the 1953 total. Drug and proprietary stores in the South received $1.9 billion, a rise of $180 million. Furniture and appliance dealers recordec of billion for » five per cent boost. Department stores and general merchandise firms drew $6.6 billion, an increase of seven per cent and apparel stores record ed the same seven per cent up- HOME SWEET HOME--The C. \V. Mitchener family recently moved into their new home on Lester Lane and have joined the many other Greenville families who are enjoying a "better built by Bailey" home. The Bailey Lumber Co. provides gracious, comfortable living in its custom built homes. (Staff Pholo) Mitchener Family Is Enjoying 'Better Built By Bailey' Home C. L. SCHLOM Diamonds · Watches · Jewelry 4itd Arfe«vt4 Jiw«l*f · Silver · CUiu i Crystal · Cuneru ih*4 Wrtdi Iwilr D R I V E 7 M I L E S SAVE ON FURNITURE LIVING ROOM SAVE 20% CHOATES FURNITURE MART Ptar.i J36 1O4 - 106 E. 3/d LlFerx! WHY NOT CHOOSE THE IT COST NO BESTl MORE! i r NECCHI" ·k No Down Payment Required *Up To M Months To Pay it Complete Service And Parts Call ED 2-5592 And Ask For . . . GUY BIGGERS a fton Irpirt.nt. wild Stwfnt MathJnu 114 !.. Tegular II. PEACE WITH NO PESTS £*v4 PHONE ED 4-3932 -ANSWERING SERVICE Y o u ' r e G o n e I t R i n g s -W e A n s w e r . In Your Office, Home or Hotel I*t us show you how we can save you much money during Vacation Time -Call ED 2-0984 After G P.M. ED 2-7765 MONTEREY P«rfor»iai)t«.J«Igntd liull lot Hoiking ipecd, Mil rldtl your IndiyWuol Hurling arrang«n«M from over flfty eptioni? kan 6f,J3k«i up lo 40 bp. AUTHORIZED LONE if STAR DEALER Marine Equipment, Inc. 1M S. Walnut Ph. ED J-096J S T E E L Buy it right off our Route Delivery Truck! · FLOOR PLATES · FLATS · ROUNDS · PLATES · EXPANDED METALS · ANGLES · CHANNELS · I-BEAMS · HOT ROLL SHEETS » SQUARES WALCOTT STEELE ID 3-723B INC THOMPSON'S Battery Electric Co. Rccorerl -- Rerrailt Cleaned by Experts NEW AND USED Dial EO 2-7243 Ml Main SL Bailey Lumber Company, Highway 82 East, proudly displays a new home recently built for Mr. and Mrs. C. W. Mitchener. Before Mr. Mrs. Mitchener moved into their new home on Lester Drive they inspected it many times during construction and will now attest that Bailey Lumber Co. lives up to its slogan 'Better Built by Bailey". Mr. Mr*. Mitchener worked with draftsman at Bailey Lumber Co. ind removed all of the imall Itemi In their house plans that were not suited to theirimay happen to their construction needs. They also worked in all the in the future, details they felt were needed. Be-; Home owners in the market cause of this and many more for additions repairs, or altera- conveniences they feel that a cos- tions can also realize the corn- torn built homes was the best buy for their money. The Mitclieners are not only pleased with the appearance of their new home but are very happy to know that it is well constructed. In this respect they are spared the worry about what turn with a $3.3 billion total. Census Bureau estimates for 1959 placed retail buying in in chain stores (with U or more establishments) at $15.3 billion. Recipe for Roaches 1 Pint Johnson's No-Roach 1 1 Small Brush 1 Saucer Pour No-Roach In saucer. Brush on cabinets, baseboards, around sinks, etc. The invisible ioating stays effective for months. For peace of mind, use No- Roach. Pint $1.69; 8 oz. 89c. Available at Sunflower, Blue Gold, AP, Kroger and your favorite supermarket or drug store. HOT WATER SECURITY WATER HEATER Ovulltr iulll-- Cm or Elxfik Buy now arid save- 93 Garr Plumbing Go. Phone ED 2-5JM fort that can come to their homes in the work performed by Bailey Lumber Co. Should you be anticipating a new home, or work on your present home the Mitcheners would not hesitate to recommend Bailey Lumber Co. Uncle Sam Nudging, Not Pump Priming By SAM DAWSON AP Business News Analyst NEW YORK (AP)Uncle Sam must be giving this or that nep- Itew a nudge loward getting more business done. One day he is trying to make money a bit easier for corporate or government borrowers. The next day he is trying to get home building to start up 1 at a little faster pace. point out that this is far short of pump priming. They also deny that their aim is lo head off a recession, which they insist isn't in sight. And those whp manage the nation's money supply and availability shy clear of any involvement in the political debalc over hmv fast the economy should grow--a debate that seems sure to do some growing itself before November. Come Regularly But whether the nudges to the economy are negative in the sense of merely easing financial pinching here and there, or positive in the sense of getting business on a definite uptrend again, the nudges come along fairly regularly. In the banker's view they are mostly attempts to give commercial banks more money to lend business. The Federal Reserve lowered its charges on loans to member banks. From time to time it buys U. S. securities in the open market to increase bank deposits so that more money can be lent. (Unused as yet is the Federal Reserve Board's power to lower the amount of reserves member banks must keep with it.) The banks insist the effects so far have been scarcely noticeable in their case. They haven't much more, if any, money to lend. Bui the Federal Reserve's leaning lo- ward easier money is there for all to see. And short term interest rales have generally turned lower, fn the home building field fed eral agencies have eased up on credit terms and tried to make iiome mortgages more attractive to investors. The aim is to pep up building and home buying, which have been running behind year ago "figures. Building Cramped The Federal Home Loan Bank Board puts outstanding mortgage loans at around lJ3'/ 2 billion dollars. But home builders com plained that tight money last year and early this year made it hard to find more money for new mortgages and thus cramped further uilding. The Federal Reserve Board's bent toward easier money, staring this spring, has helped ease he mortgage money market. And federal agencies directly concerned have taken a hand. The Federal Housing Adminis ration in April reduced the down payments on insured mortgages tor homes in the $1?,500-J18,000 We Rent Men's Uniforms, Shop Towels Fender Covers W H Y B U Y ? 548 North Broadway ·OffMK |SC8ME« Phone EDison 4-4303 E V E R Y T H I N G IN QUALITY I N D U S T R I A L S U P P L I E S Fil.l Vol.M · Wagner Electric Motors "THE QUALITY HOUSE" I N D U S T R I A L COMPANY INC. Hwy. 82 E. SUPPLY Phone ED 5-1163 Last Week In Business, Finance By JACK LEFI.ER NEW YORK (AP)-Politics at lome and troubles abroad kept business on edge lost week. A sharp drop in the stock mar- tet reflected the uncertainties. Aircraft and m i s s i l e stocks countered the trend in anlicipa- ion of more defense spending as he United States and Russia exchanged harsh words over the shooting down of a second Amcri- :an plane. Business circles believed that no matter who is elected president in November the emphasis expanded defenses will in crease. Sludy Convection The Democratic convention was studied with keen interest in an effort lo assess how nominee John ?. Kennedy's policies would at- ect business if he is elected. The copper industry eyed the violence which has closed Congo copper mines but reported there ias been lillle or no effect as far as the United States is concerned jecause supplies are ample. With imports of sugar from ]uba cut off by presidential decree, the Agriculture Department ncreased the marketing quotas of domestic producers by 553,000 .ons this year and of foreign producers by 137,000 tons. The four milionth automobile ol :he calendar year rolled off an assembly line this week, well ahead of the Aug. 15 date on which.the mark was reached last year. The industry'i production ound week :ioli for mciijels. 1 from the July 4 holiday was restricted by widespread plant closings. Ford Mo- Would-Be Assassin Is Executed JAKARTA, Indonesia (AP)-An ndonesian air force pilot who strafed President Sukarno's palace in March, has been sen- enced to death by an Indonesian air force court martial.' The military court convicted Lt. Daniel Alexander Maukar, 28, of participating in a subversive plot o kidnap Sukarno and the na- Eon's military leaders, and then occupy Jakarta. The prosecution said the aim of the plot wns to force a cease-fire with the Sumalran and Celebes rebels, who have been fighting Sukarno's government for two years. Rolling Fork Lions Hear Hudspeth ROLLING FORK - The Roll ing Fork Lions Club heard Charles Hudspeth, Vice President o! Kona Textiles Corporation in Rolling Fork, as guest speaker at its regular meeting. Hudspeth detailed operation o the local industry, and rpoke against the proposals in Con- iDmtput was an estimated 194,- KX) cars, compared with 89.769 this previous.week and 127,602 a ·e;ir ago. Sales in the first third of I July totaled 107,500 cars, 1.3 pei! cent ahead of last year. Sllecl output snapped back from helow holiday week level but the nd'jistry doesn't look for any fur- he r progress until August and per.ltaps later. Production was ts- imated at 53.1 per cent of capacity, l u p from 42.2 a week'earlier. St\xk sales on the New York Sttxft Exchange amounted to 12,- 996.:J36 shares compared with 11,- weck and 15,557,890 a yeaij ago. Bond sales were fa,- 143,(|)0 par value compared with ;20,;iJ!!8,500 last week and $25,062,200 ij year ago. lilomebuilding Gets Boost Tha ailing homebuilding indus- ry girt two shots in the arm dur- ng the week. President Elsen- »wer ( signed a bill extending two t^^using assistance programs vhich guarantee G.I. loans and some I direct loans. v The Federal lousilig Administration permitted ndivil'ual investors' to buy gov- enmenU-backed home motgages. This vs|as expected to ease credi and simulate building. The ^President also signed * bill authoulzing federal highway pedituos at a rate;of 925 million dollars( a year fiscal 1962 and 963. iStales would match these inds equally. Empmyment rose In June to a ecord 1)8,600,000, the Labor Department! reported. The previous The FHA gave another nudge this week. For the first time il nvited individuals to invest in the, mortgages it insures. Until now only banks, savings and loan associations, insurance companies could own these insured mortgages. By offering them to individuals as long term investments the FHA hopes to attract still more money into this field. As more money becomes available the interest rates--and even more to the point, the discounts! asked--end lo turn more in the borrower's favor. The net result of Uncle Sam's nudges so far has been'to make' borrowing just a bit easier, credit 'ust slightly more available. He is giving a nudge, not a shove. gress for the $1.25 per hour min 5 mum wage law. COME IN AND BROWSE In Th. Hiollh Sludio BulMtng DELTA AQUARIUM PET SHOP Murray Lli WiRlomi, awnin 610 H*y. t 1au* tor Co. had eight plants (kwn,; i\i; of them closed by. strikes. Clumsier and Studebnker-Packard cuVtailed operations in prepara- changeover to 1961 Output Up were added to the rolls. The total idle reached 4,400,000, and natural gas. up 964,000 from May. ,The Commerce Department an ixmnced that profits of corporations before taxes showed a sharp gain the first quarter but indicated that second quarter results won't be as impressive. First quarter profits ran at an adjusted annual rale of $48,800,000,000, a ;hin of five per cent over 1950. The over-all level of Indus I rial production dipped slightly in June as durable goods producers reduced .inventories. Retail trade continued to exceed last year with gains up to five per cent for the week. Briefly a r o u n d the business scene: Ten thousand employes of Monsnnto C h e mical Co, have tak'en options to buy 433,000 shares of the company's stock. Japan shipped 27,671 1 the United Stales in the first five months of this year, 1,847 in the; high wa^: 67,800,000 in July 1959. i M P L E T E »EST N T R O L SINCE 1901 CONWT TM « KIPHOMI DHKTOtr FOt 1X1 OtKwt Ofrici NfARIIT TOV WORLD! s URGEST Unemployment increased, too, as device which produces electricity 2,200,000 youngsters just out of directly from heat provided by ordinary fuels such as gasolina 1959 period . , . Booing Airplane Co. received » 247-million-dollar Air Force .contract for research and development of the solid-fuel ballistic missile... Radio Corp. of America developed an electronic SEE IT TODAY the only blind that' makes your room "Gets the most satisfying results" BLUFF CITY DIST. COMPANY 101 Hwy. 1 So. Ph. ED 4-H12 New Flexalum TWi-NIGHTER* You can turn day Into night just by flicking the cordt Wlp*. clean plastic tapes. Sna^back aluminum slflta with mar-proof ·finish. All components color* rmatched or in choice of over 200 combinations. R£E DCCOKAHNG BOOKl£TI Exclusive Manufacturers In North Mississippi Louis T, Garret! Go. Ph. F.D 2-7206 Hwy. 82 East Buy That] Carl. You may be M to MY« $125 or more on U A how or used car when buy it through the Stn to Furrn Bank Plan for auto mancing. Aak about it. j John MJ Worthy Ag\TMt Ready BIdgl ED MK« A BAILEY BUILT HOME Is The Best Buy For Your Money Ask About Our Newest 3 Bedroom Home. Only $300.00 Down and Monthly Notes Under ?70.00. HWY. 82 EAST PHON'R En 5-HS5 Nile PHONE ED 2-281S GROWING WITH GREENVILLE THREE LOCATIONS TO SERVE YOU! GREENVILLE BANK 332 WASHINGTON AVENUE C R O S S R O A D S B R A N C H lnl«ritdion H i g h w a y s 82 1 D R ) V H - I N * F A C I L I T Y 1 1 4 N O R T H S H E I 6 Y TRUST COMPANY M FM *bd Mori* you need to INSULATE your home or store AGAINST HEAT: Contact Your Local Dealer for * BEST PRICES if WORKMANSHIP if BACKED-UP GUARANTEE Call ED 4-4026 T R I B B Y Air Conditioning Co., Inc. 1317 Railroad Avc Phone ED 4-4026 FENCE: 1 FENCE 1 FENCED FENCE FENCE FENCE FENCE Ask Your Nelgl ibor About Allied Fa nee in rFENCElICO: Dial ED 2-6317 | «28 Hwy. No. I Nari i Across From Nnval Rea :rve Prompt Ambulance ' Service Oov ond NlgM Picture Frames Cvrtem Modi to Ord* Funeral Service M Cnirli Burial Insurance WELLS Funernl Home Phone ED 1-7287 ;p FD-IOO . . . !}{ Rugged -- Economical -i[[ Reliable -- for the jj| professional, for the farmer :H New enclosed i fillers. design, larger ill THE Company, Inc. Highway I South Phone ED 2-1763 L'V · BOND! Certificated · INSURED Phone ED 2-fMM Highway 82 E. Greenville Storage Transfer Go.

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