The Austin Daily Herald from Austin, Minnesota on December 27, 1958 · Page 4
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The Austin Daily Herald from Austin, Minnesota · Page 4

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Saturday, December 27, 1958
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M. B. lUtnrasttt File for Next Year Some of us can cow our toddling children into keeping their hot little fists off the Christmas tree. But we have to face it: Most of them can't be bluffed away. The kids know a natural target when they see one. who wouldn't want to put the crusher on a gaily colored, fragile __._ thing like a Christmas ornament? .~ Editor and Publisher . , Bu * Pa^ntfil ingenuity is a wonderful Rasmujsen, Business Manager thin |' to °- *"? °tn«* day a story popped up about a fellow who solved the problem by turning his Christmas tree upside down and hanging it from the ceiling. Certainly his approach was bold. It is an effort that will not pass unnoticed. Yet, since we are all pretty accustomed to looking at trees right side up and on the floor, this involves-something of a psycho- N«v«mtef I, 1891 Katentf •• IN dan matter at the pott office •I Aattli, Mtmneia, into the *cl «f March I, tin/ _ _ toned Daily Ktcett Sunday "*"""" The Herald has been for 67 years and still is a newspaper for Austin and com* munity fair and impartial to all, seeking always to promote the best interest of agriculture, labor and industry catering to no demagogues and showing favoritism to no group, firm or individual Membtr et the Auoclated Pretg The Associated Press U entitled exclusively to the UM (or republlcation of afl the local newt printed In thit newspaper at well as all AP newt dispatches, By me kings reign, and princes decree Justice. — Proverbs 8:15. Justice without wisdom is impossible. —James Anthony Froude. Chinese Puzzle When we learn the name of Mao Tse- tung's successor as head of the Red Chinese government, and see the future bent of Peiping's policy, we will get our best understanding of the meaning of his retirement. In the nature of things, we can'never be sure we know all there is to know about events in the Communist world. But the external aspects of the changes which occur do give us some cues. Mao, of course, is retaining his post as boss of the Communist party. That suggests, on the surface at least, that he is yielding administrative authority without yielding much power, for in both Russia and Red China, not to mention the satellites, the party is supreme. It is true, too, that Mao is 65 and that he is just winding up a new four-year term of service. Thus there is a certain logic in his giving up the government reins. On the other hand, persistent rumblings are' heard that Red China's drastic new system of communes, which spell the virtual breakup of family life and the establishment of forced labor living in barracks, is extremely unpopular. To step down at such a moment could indicate a response to this unrest. Certainly the top Reds in China are aware Mao's move may be so interpreted, both at home and abroad. They will be busy for some time trying to make it seem thoroughly plausible on other grounds. But, as noted, the test will come with new events. If Mao's successor is one of his followers, no great significance may finally be read from the change. But if the new Chinese leader is cut from another mold, and goes on to shape policies which modify the commune system, we will then be pretty safe in believing that Mao's withdrawal from government is more than the natural, expected retirement of an aging man. Even then we should still have to try to fathom what influence the Russians might have had in bringing about this decision. There are more than a few who think Moscow cannot be unhappy that Mao, the stern Marxist often critical of Soviet policy, soon will be removed from one great active arena of Communist endeavor. logical wrench. An alternative that comes to mind is to surround the tree with an electrified fence (mild charge, of course). The fence itself could be gaily decorted, and might enhance the whole scene. Opinions of Others BURDEN ON NEWSMEN . The decision by the United States Supreme Court refusing to hear the Marie Torre, New York columnist convicted of contempt of court for refusing to disclose her source for a news item, will be viewed with regret by newsmen. They believe with justification that the need exists for a right to refuse to disclose news sources, even to a court. Every good reporter receives information from time to time that the public should have and that he can report'— with the understanding that he will not reveal wTio gave him the tip. Now the high court's action implies that the right of refusal to disclose sources is not an inherent right under the Constitution, which will result In the closing of many news sources because no one can be sure he will be protected when he talks to a reporter. There now are two recourses left to newsmen. One is to refuse anyway and thus go to jail, if necessary, to protect a news source. The second is to seek in state legislatures the right by specific statute that is denied by the court as an inherent right. Legal experts will be happy that the point has been cleared up by the court. But newsmen will realize that, by taking the matter out of the "gray area" of legal rights, the court has put a heavier burden on them in fulfilling their responsibilities to the public. — ROCHESTER POST-BULLETIN FIRING OF TERRY AN ERROR We should guess that the University of Notre Dame has damaged its over-all public relations by firing its football coach, young Terry Brennan. For some time, the university has been engaged in a campaign to persuade the public that football is not the sole or even the principal interest of its faculty and students. It has not been attempting to de-emphasize football except in a relative sense. It has been trying to upgrade the university's academic standards in those departments which lag behind the recognized leaders in other universities. This academic improvement can, of course, proceed whether Mr. Brennan is on the coaching payroll or not. The trouble is that the impression has been created that football, despite everything, is the university's first concern, and a somewhat frantic one. The fact It that Notre Dame's football record under Brennan has been highly successful, one that would be envied by many another coach who is, nevertheless, secure in the support of students, faculty and alumni. Apparently nothing is acceptable at Norte Dame except absolutely unbroken victory, year after year. Mr. Brennan's successor is on notice that even one defeat will be taken very ill by the men in charge. This strikes us as mis-education of the student body and the whole university constituency. It proclaims a standard of values Inappropriate to an institution dedicated to higher learning.—CHICAGO DAILY NEWS 4 AUSTIN (Minn.) HERAlO Saturday, Dee. 27, 1958 POT POURRI THOUSANDS OF people fly tttttfc New York to Chicago every month in the mistaken belief they fly west. It's only one of our modern illusions, explains the science pub' licatlon "19S9 Forecast." At the latitude of New York, the earth spins on its axis from west to east, at 770 mites per hour. A plane flying from New York to Chicago covers the 713 mile* alf distance in'about three hours flat. But in three hours the earth has turned 3 x 770, or 2,310 miles to the east., Deduct 713 flight miles from 2,310 miles and you, have actually traveled 1,597 miles east; You can go west only by flying more than 770 miles ,an hour in that direction. No commercial plane now does. THOUGH ST. PATRICK'S Day Is still far away, we received through the mail a small sprig of Shamrocks, enclosed in cellophane. The letter, from the National Foundation, explained the Shamrocks were brought to this country by six Irish students from Dublin University. They will appear on the Ireland-1959 March of Dimes float in the Tournament of Roses parade in Pasedena, Calif., on New; Year's Day. Obviously, since Marty Crowe is the coach of the Shamrocks we forwarded the sprig to him. THE STRIKE by airline pilots has created public interest in such things as the salary and work of a pilot. The pilots' own association, gives this information: On the "Big 4" airlines, pilot- captains average about $17,000 per year, earning up to $20,000 on domestic flights and up to $25,000 on international flights.. .Co-pilots, whose promotion to pilot-captain is based on seniority and experience, average about $9,000 a year on major airlines. . .On the smaller regional or local airlines, first pilots average $11,700 a year, co-pilots $6,900. The Civil Aeronautics Administration has set 85 hours per month as the maximum a pilot can fly. Many pilots have so much spare time that they are engaged in other business. Nearly all contracts provide for pilot retirement at age 60, but if | competent and physically fit they may fly beyond that age. The CAA requires commercial pilots to take physical exams twice a year by CAA-appointed doctors. Most airlines will not hire pilots who do* not have 20-20 vision without glasses. For those interested in working to qualify for one of the best-paid occupations, here is some additional information: Eighty per cent of the pilots were trained in the aviation service of the armed forces. . .For those who receive their training in private flying schools, Ihe cost of training for a commercial pilot's license runs from $2,000 to $2,500. . .The airlines require pilots to be 5 feet seven inches to 6 feet 4 inches, with ages 21 to 28 as the usual hiring range.- Average pilot has had -at least two years of college. The Great Leap Backward Nixon, Rockefeller Veer Away From War With Labor By VICTOR RIE8EL Quietly, with no publicity bugles blowing, Richard Nixon hi* bctft attempting to end the civil war between th« Republican" admin- stration and the nation's labor •idem. At high noon on Thursday, Nov. 20, had you been stalking the Capitol's corridor*, you would have noted two men from labor's national headquarters checking their iropaganda guns outside the vice president's office. Seconds later they wen deep in conversation so characteristic of President Eisenhower's second-in-command. Nixon spent most of his time asking, probing for advice — and listening carefully, Thit Urn* he listened to William Schnltzler second-in . command of the AFL- CIO, and to lean, dry-humored Mike ROM, the AFL-CIO'» foreign affairs expert. Later, Dick Nixon told friends that he believed their advice had helped make his darting trip to Britain the success it was. What DM They Think? The labor men had come at Nixon't invitation. He asked for a briefing on what to expect from SYLVIA PORTER'S 'YOUR MONEY'S WORTH' Why the Telephone Split? By SYLVIA PORTER [Telephone through the years as a It's not often that the rank| stock w"h n° m °re glamour than amateur in Wall Street buys stocks not only as astutely as the shrewdest, most powerful pro, but also outsmarts the vast majority of men who .eat, sleep and breathe the stock market 365 days a year The historic event took place on Dec. 17, 1958 — when American Telephone & Telegraph Co. announced a 3-for-l split of its stock phon f h * d How to Squeeze Your Cash? Banks Set Up Budget Plans plus a 10 per cent hike in its annual cash dividend and thereby set off one of the sharpest upsurges in its own shares in modern times. "Who have been by far the heaviest buyers of American Telephone stock in the past several months? The little fellows, who have only enough money to buy in odd-lots - in blocks of under 100 shares. Telephone Ranks 3rd Telephone ranked third on the list of stocks most popular with odd-lot buyers in 1957. It ranked ninth of the list of stocks most popular with investors buying a deposit in the corner savings bank? Most brokers, most wealthy individual investors. Telephone didn" even place on the list of stock) most popular in 1957 with buyers in round-lots — blocks of HOO shar es. It was only a few months ago, when reports indicated that Tele- to the No. 1 profit-maker of American corpora lions, that a couple of brokerage firms bothered to dig into the statistics about the company. And their glowing recommendations o! the stock were generally shruggec off. My mother was among the happy army on Dec. 17, for she has popularity, broaden its market, ubstantlally Increase the number of the corporation's stockhold- Telephone's stock split has dram- tlzed the market's boom in 1958, the swelling interest in stocks, the :onvictlon of America's leading corporations that the nation is into a cycle of great growth and they'll long owned a block of Telephone stock (to the amusement of many of the experts I know( and she literally gurgled at the prospec of having three shares for each one she now holds. Benefit From Dividend "The split doesn't increase your stocks regularly via the Monthly Interest in Telephone one bit," hat they do enhance a stock's:have to tell new stock to raise British political leaders—especial- iy the Socialist Labor Party ficialdom in London. What werd their Interests? Whit poli cies Were they really pushing"? What did they really think of the Soviets? '. Nixon got a thorough rundwon in this secret talk. In the fihal few minutes, he told Schnitzler that labor's international in-fighting against the Communists was of great help to the United States. Schnltzler batted this one'right back. "We'd do better if we had more money to spend on this battle, and we'd have more money If we did* n't have to spend so much of it fighting the 'right-to-work' proposals," the AFL-CIO secretary treasurer said. Then Dick Nixon, knowing full well that this off-the-record talk was not intended to be off-the- record from Schnltzler's colleagues, said quietly: "Forget about the 'right-to-work' laws. I doubt they will be pushed again." It was apparent to the two labor officials .that Dick Nixon was previewing his 1960 self—though that is not why he had asked them to drop in. Had His Word They left, confident they had the vice president's word on "right- to-work." They left feeling that Nixon had, in effect, said he wanted no war with them; that they TS. cash to participate in the growth. But one of the most dramatic aspects of the Telephone tale is the way it has confirmed the little fellow's faith. The vindication couldn't have come to a more deserving, nicer person — America's amateur investor. (Distributed 1958 by Hall Syndicate, Inc.) SIDE GLANCES Investment Plan at the start of October. There's no. question that the most persistent buyers of AT & T have been small fellows, newcomers to the stock market. By FAYE HENLE This country seems to have gotten ready for Christmas awfully early, Yet perhaps your enthusiasm's dampened. Perhaps your holiday •livings didn't measure up to what you wanted to spend. Year-end bonuses, in many an industry, weren't as lush as in yesteryear. This is a good moment then to review your spending of the year, to give tome thought to better budgeting in 1959. Who can help you? Your banker can. In the put several days two varied approaches to this prob- lem have come my way. The first Is • pamphlet issued by the American Bankers Assn. called "Controlling Family Finances." It offers three simple methods, leaving the decision of which is best up to you. The alternatives: A "M budget plan" IB which first you list your fixed expenses — all items you know you will have to pay in the coming year — then set aside a definite amount to be cave* each payday and finally allocate for current expenses that portion of your income that remains avail- Soft Coal Operators Glad Year Hears End By JOHN MOODY PITTSBURGH (AP)-£oft coal operators traveled a bumpy road in 1988. Orders from the industry's two biggest customers declined and the export market Weakened, noticeably. Total consumption of bituminous Qoal in the U.S. dropped from 414 million tons in 1957 to 370 million tans. Exports skidded from 79 million tons last year to (1 million tons in 1958. Mine owners forecast production for 19(9 at some 450 million tons Coalmen had been braced for a lean year in 1958 but the final re- auU* were far worse than early forecaali indicated. Many firms estimated their earnings would be from 39 to 50 per cent behind 1957. The decline in domestic con- aumption was the aeotfcd in two yean* Coal f"rw.fp|iiMfflp Jo 1966 Just topfliftd MO mtMi"B tana. fivtn the U.S. poosumptioo fig- dwt teU ti» whole alary of the fuel cap? from atack- buiit up before tfaia year. Up aafftaf toialimi picture, ed Mine Workers from seeking a •Mtrrar, did art MM tt* Ifcfr able for daily living expenses. A "complet budget plan" wherein you are urged to first keep careful records for all family expenses for a trial period. Thee months is advocated as ample. At the end of this trial period you should be able to figure, with considerable accuracy, your fixed expenses, decide on your cash savings and develop practical allocations as a prelude to setting up an actual budget. Less complex Is the ABA'g "simple budget plan" whereby through either experience or trial and error you decide on desired allocations for spending and saving. If this 1s your plan, you are urged te make periodic checks on your spending and saving patterns to make certain they are kept in proper balance. The second approach to this mat warned that evening. "You have one share at $223 now; if the split were taking effect tonight, you'd have three shares worth between $74 and $75 — and each share Who have been the next heaviest ;would "Present one - third the CREDIT CARDS have become 30 popular in some parts of the country that payment by cash is almost a novelty in a few restau- •ants. But the mushrooming credit card business may have hit a rock. ,\ number of restaurants in Wisconsin and in Seattle, Wash., will start Thursday charging diners for extension of credit. They have to pay the Diners' Club, for example, a seven per cent commission on all charges. Also, they wait long periods of time for payment. This is the way one restaurant trade publication spells it o u f "Credit cards are enormously popular with businessmen traveling and eating on an expense account. The Bureau of Internal Revenue and pressure of their own firms for expense report accounting have made credit cards a real convenience to business firms and em- ployes. Why should a restaurant owners have to pay for this valur able convenience to customers? The Diners Club charges its members $5 a year. In addition it charges restaurants seven per cent for allowing their customers to sign a tab. American Express card-holders pay $6 a year, and buyers of Telephone recently? The powerful pros who manage the giant investment funds of the country and who are responsible for the Investment of over $13 billion of cash. In the first six months of 1958 the big investment I funds added 200,000 shares of Telephone to their holdings, one of the largest stakes the funds ever have put into a single corporation in so short a period. A year ago AT & T was 42nd on "Vickers Favorite 50" locks of the investment funds; six months ago Telephone was up to 15th place. Who owns Telephone's 70.3 million shares now outstanding and who will own its 211 million shares more investors. The market for its when it replaces every current share with three new ones? Dominated by Widows An army of more than 1,600,000 the highest total of stockholders of any company in the world. And his army is dominated by widows, by middle-class salary and wage- ;arners, by employes of Telephone. And who has been scorning new waae contract As the vLr ter of Dud S etin S that I've just re- the commission charges to corn- new wage contract. As the year wlyed comes from Fifgt National merdal establishmen f s vary> „. ended UMW President John L. Lewis was pressing for a wage increase and other improvements. Much of the coal story can be summed up by saying the steel industry, experiencing its own business problems, used 31 million tons less coal this year than it did in 1957. Mine operators who produce metallurgical coal for the steel companies had expected to sell 104 million tons of coal. Instead the total came to 77 million tons. Electric utility firms gave advance indication of plans to burn 107 million tons of coal this year. But the final results showed 153 million toot of coal went to electric producing plants. Coalmen said the utility firms took advantage of an excess of fuel oil and natural gas that came into toe market at what the coal operators referred to as "dump" prig*. The' business lag coupled with gtantly improving mining jnatboda cut further into the ctf production workart. Bank of Minneapolis. Called "New I eraging about five per cent. Spending Guide for Budget-Minded Families," it is an actual work book designed to help you figure spendable income, to enter anticipated fixed expenses and to allow you to plan for flexible ex- interest of your one share now. Your benefit comes from the rise in the dividend. You'll get 3.30 on each new share of $9.90 a year on three instead of $9 on one." "Don't be so technical," she retorted. "Three shares at $74 makes me feel richer than one share at $223. And with the price of the stock so much lower, more people will be interested in buying it and more people will buy it. You wait and see." Which, in a few simple words, explains why the world's largest utility is splitting its stock for the first time in its history. At below $100, Telephone will be in the buying range of many Lett Lament shares will broaden. When Telephone sells new shares to raise new cash — and it will raise massive amounts through sales of stock in coming years to finance its expansion — the lower stock price will facilitate the sales. Splits Are Popular The history of major stock splits through this decade emphasizes Answer to Previous Puzzle penses. Here each month you can check and see how actual expenses compare with the estimates you have made. To guide you on how average families allocate their flexible expenses, this booklet has broken down national spending patterns. According to these figures between 15 and 40 per cent of a family's income is spent for food. The housing operation takes 8 to 15 per cent, clothing 10 to 18 per cent and transportation 9 to 10 per cant. Medical and dental care, The restaurant owners ask why they should have to wait 45 days for payment of today's meal, anc in addition pay seven per cent as a collection expense. If the trend grows for restaurants to charge credit-card holders seven per cent to sign a tab, credit card companies obviously will not be happy as their service will have less appeal to their members. UNCLE MAT'S slogans: If taxe? aren't cut soon, people will be for ced to marry for love. . .Speak when you're angry and you'll make the best speech you'll ever regret. . .Saving money is still a i pretty good idea—it may be vaJh uable again some day. . .No mat i ACROSS 1 Capital of Latvia 8 U overrun by the U.S.S.R. in 1940 8 Its capital is the second largest Baltic after Leningrad 12 Poems 13 Indonesian of Mindanao 14 Cupid 15 Low sand hill 16 King (Fr.) 17 Ancient Persian 18 Dine 19 Fruit 21 Driving command 22 Spanish ]ars< 24 Inclines 26 Intelligence 28 Lowest ?9 Light brown 30 German river 31 Ignited 32 Group of matched pieces 83 Press 54 Icelandic saga 55 Small tumor 56 Domestic slave DOWN 1 Western cattU show 2 Standards of perfection 3 Well-born 4 Peer Gynt's mother 5 Distort 6 Above 7 Co by steamer 8 Card game 9 Greek letters 10 Rat (1 Large plants 19 Assaulted 20 Weather conditioni 23 Horn 25 Church 36 Sea ducks 37 Motive 38 Disgrace 40 Sluggard 43 In a line festival season 44 Contour 27 Grafted (her.) 45 Biblicil 28 Not as much 33 Grooved 34 Made lace garden 48 Station (ab.) 50 Pastry education and recreation, gifts and' ter how poor a man is at matht contributions each reportedly capture another 2 to 10 per cent while t to 7 per cent should be allocated for personal care and anywhere from »ro to « per cent for duet matics, he knows that 36,25,3' adds up to a nice figure. . .A man is an oldtimer when he can| remember that the only problam about parking was getting the girl to agree. «8Fright«j :9 Attempted I i Torrid >2 River valleys i« Persian gateway i7 Crafts 49 Disencumber 39 Mexican coin 51 Encounter f "We're trying out ourChrlatmaa presenta—-Helen'a cape and my barfaacua grill I" 1,500 Members of JLM A Ion Meet in Ontario /W/ /tHSWef By BILLY GRAHAM QUESTION — My father was a very good man who always provided for his family, had a reputation for honesty and decency and was most generous to people who were in need. Do you mean to tell me that a man who does all of these things Is not a Christian? PETERBOROUGH, Ont. vlore than "l.SOO members of the Staples Clan gathered here for .heir first reunion in 33 years. The group, estimated at 6,000 in Canada, comprises descendants of Richard Staples who emigrated from Ireland in 1818. 3 Minutes By JAMES KELLER MORE THAN PULLS An item known as the "happiness pill" is being sold by the millions. Though intended v as a temporary relief, many become dangerously dependent upon it. This new tranquilizer, with its relaxing effects, is known to the public under different trade names. Like sleeping pills or other bar biturates, it is a drug which can serve a helpful purpose when used for a short period under a physician's advice. But anyone who becomes too dependent on "happiness pills" and slips into a habit of taking them is inviting plenty of trouble for himself. If a man could acquire peace of heart, mind and soul by merely taking a pill every few hours, many of the problems of life would vanish. But in God's plan, the only true and lasting happiness must be fostered by the individual himself. The Lord provides the essential elements. But He leaves it to each of us to find true happiness by applying His love and truth to our own lives and to the world. "The expectation of the just is joy." (Proverbs 10:28) Let me find lasting joy by doing Your will, 0 Lord. could differ, but where the labor leaders could help the govern-' ment, he wanted to work with them quietly and, when necessary; without fanfare as in this unreported session. The meeting would have stayed off the record if a couple of-insiders hadn't discussed the Nov. 20 get-together while they were at another, larger private gathering on another Thursday, exactly a month later. That was on Dec. 18, in New York. They were in a group of 53 New York labor chiefs. This was a sel- " ected list drawn, up for the host Gov.-elect Nelson A. Rockefeller. by his labor adviser, Victor Borcl- la. The latter is executive vice- president of Rockefeller Center." Among other Borella duties are the center's labor relations. Mixed With .Rockefeller -„ The 53 union chiefs, including such ardent New Deal nostalgias' as David Dubinsky_and Alex Rose,found themselves mixing genially- with Rockefeller in the executive, offices of Radio City Music Hal). Most of the unionists were but names to the new governor. He grinned when he made them welcome with a short speech. This be*. gan with "Little did I realize that I would be in this position. . ." Dublnsky, the irrepressible, heckled laughlingly, "You can't blame us for that. . ." The crowd roared. There was not one of them who had supported Rockefeller for election. Rockefeller chuckled. Then he went on to say that he believed in a two-party system. Turning to Liberal Party leader Alex Rose, the governor-elect, said, "Even in a 2^4 party system." Becoming serious, the Republican leader stated he would not permit himself to be moved by one pressure group against any other. It was obvious he meant he would forget they had '.ie.?n on the other, ide. There was talk of his starting new pro-labor program soon o be unveiled. It was obvious, too, that another Republican chief of national sta- ure was saying that he wanted no civil war with the labor nien. Distributed 1958 by Hall Syndicate, Inc.) R. R. ANSWER From the times of Jesus until the present time, people have confused Christianity with morality. May I say that there are many good people who are not Christians; but unfortunately, as good as they are and as high as their standards may be, they are not good enough to merit hea ven or to stand in the presence of God. In the days of Jesus, there was a group of men known as Pharisees. These men made it the goal of their life to fulfill every jot and title of the law; in fact, they even thought it would be possible to do more than the law required. They meticulously observed all of its requirements; land yet to His disciples, Jesus The Church of San* Miguel in Snta Fe, N. M, was built about a half-century after Columbus discovered America. once said, "For I that except your say unto you righteousness SUBSCRIPTION RATES Single Copy iai Nawade«ien and Street Sales) ;...I 07 HOME DELIVERY IN AUSTIN jingle Copy i other tban reg-u- . lar weekly Subscribers) I Per Week, Carrier Delivery ... t .._ 26 Weeki ^10.40 ZQ.80 .10 .40 One Tear BY MAIL-ZONE 1 Delivery in postoffloe within 50 nlles radlu* of Aiutln — Payable In advance. One Month , f 1.15 Three Months 3.JS 31x Monthi 5.50 One Tear 10.00 MAIL-ZONE Z Delivery In poetoldce outside 50150 miles—Payable In advance. 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