Northwest Arkansas Times from Fayetteville, Arkansas on October 9, 1974 · Page 17
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October 9, 1974

Northwest Arkansas Times from Fayetteville, Arkansas · Page 17

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Fayetteville, Arkansas
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Wednesday, October 9, 1974
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Page 17
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IS · Northwest Arkansas TIMES, Wed., Oct. 9, 1974 FAYrTTtVlLUr. ARKANSAS It Isn't Large, But One-Ata/i Town Is Booming CRESWELL', N.C. (AP) - 3 B. McGowan would have liked Adam Smith, although he doesn't know who Smith was. That's partly because J.B. likes most everyone. But Smith. the 18th-century author of "The Wealth of Nations" would be a kindred soul. Smiths book' propounded the theory of individual free enterprise capitalism. J.B., in an age of corporate business, is ? utling that theory into prac- ice. To find J.B., one drives south out of the farming village of Creswell (pop. 633) in eastern North Carolina and heads through the corn and soybean fields toward one of the newest and largest corporate farms in the nation, First Colony Farm. A mile or so from First Colony's grain elevator is a sign proclaiming the existence of "McGowanville. Founded April 1. 1D73." It's not on the map yet. McGowanville consists of a small blue general store with a lunch counter and a self-service gas pump out front and - "McGowan .Drive," a dirt path off the road flanked by seven house trailers. But it's much larger in the dreams of J.B. McGowan, who owns the whole thing. J.B. is the 'beefy 36-year-old with short red hair shoveling dirt in his bare feet around in the back of the store. He smiles broadly and offers a free soda to a visitor as he shows off the store. Not too long ago, J.B. McGowan was, like his neighbors, struggling to keep things ogether. He farmed 140 acres ·md he worked as a boiler operator in the pulp' mill at lymouth, 20 miles away. FARM STARTED Then a wealthy New Yorker, Malcolm McLean, decided to juy and clear off hundreds of housands of woodland acres and cash in on the rising price of grains. First Colony Farm was established. J.B. McGowan saw the main chance coming his way. There was a little church building down the road from his farm. It was deserted because declining population in the area could no longer support it. J.B. went to see the people down at the Washington County Production Credit Association and the man at East Carolina Bank, got a loan, and bought the church. He turned most of the farm work over to his teen-aged boys and remodeled the church. It became the store and lunch counter, catering to the farm's new employes. Things look off from there. J.B. saw that the farm employ- es needed someplace to live and he bought the trailers to rent out. Right now, he's leveling the ground alongside the store for a dining room addition, doing the work himself. Mrs. McGowai tends the cash register in the store. Business, J.B. reports, "is ·cal good. I'm renting those railers out as fast, as 1 can get 'em in there. I'm hoping to buy lots more." He's also thinking about buying some pre- 'abricated motel units for the salesmen who call at the farm offices. The store takes a lot of time, 'I figure that's the key lo success in a rural store. You've got to stay open. We .t r y U open around 7 in the morning and we stay open 'til we don't see no lights coming down the road. That's usually around 11." If the farm keeps expanding, J.B. figures he . will, too. 'Someone asked me the other day if I was going to be the mayor of McGowanville. I said. 'No, I'm going to be the banker.' " Recession May Be Long, Costly, Says Economists MINNEAPOLIS, Minn. (AP) -- The current recession will be he longest and most costly ince the Great Depression, iven if the economy begins ecovery by next summer, two :conomists said Monday. Walter W. Heller, former cco- lomic adviser to Presidents Kennedy · and Johnson, and Jeorge L. Perryi a senior fel ow at the Brookings In- .titution, made the prediction n a written report for the Na- ional City Bank of Min- leapolis. The two said prospects for an early recovery are dim. "Earlier hopes for a second- ialf recovery and some easing of inflation were dashed as we abandoned any attempt to re- ilrain price and wage increases, stepped hard on the monetary brakes and balked at iroviding tax and budget relie'l those hardest hit by in- 'lalion," they said. At Staff College NORFOLK, Va. -- U.S. Air Force Major Everett W Vaughn, son of Mr. and Mrs Elmo S. Vaughn of 1319 W Rogers Ave.', Springdale, is at tending the Armed Forces Slaf College at Norfolk, Va. The five-month Department o Defense school is operated un der the direct supervision of th Joint Chiefs of Staff and pre pares students for . positions joint and combined command that .involve more than on country or military service. " U n l e s s President Ford [ulckly and decisively reverses hese policies, the present lump will feed on itself and ·nd up as the worst downturn since World War II. "Given a quick and decisive PUBLIC AUCTION Saddles Tack Over $W,000 worth of uddt* and tick will h« liquidated per order of America Saddle Co. Tu«- day Oct. 15th 7:30 P.M. at the new Nation*! Guard Armory near the Fayetttvlha Airport 01 Hwy. n So. Faytttevllle, Arkin- *·*· . turn in While House policy, we could be experiencing economic recovery and some relief from Inflation by . next summer," they added. Perry and Heller, a regents professor of economics at the University of Minnesota, said, however, that "strict adherence to monetary-fiscal austerity would expose us to the risk that the downturn would develop a worldwide momentum that could not be easily reversed." Tfi« TIMES I* On Top of Th« N«w* Seven Days a Week Get rich v*-«r«iA 25£ off on the coffee thaTtastes as rich as it looks.' fblqeps WHEN YOU BUY ONE ANY SIZE INSTANT " UMIT ONE COUPON P*R PURCHASE MARYLAND CLUB COFFEE With $5.00 Add. Purchase, excluding Tobacco Products . Mb. Can 77 CHICKEN OF THE SEA LIGHT CHUNK TUNA THANK YOU BRAND CHERRY PIE FILLING 21-oz. Can ARMOURS TREET CANNED LUNCHEON MEAT 12-oz. Can 79" UNITY (All Flavors) CAKE MIXES 12-oz. Box 44' MAPLE FLAVORED BLACKBURN SYRUP 32-oz, Full Qt. Jar 59 WATSONS GO-TO-GETHER SPECIAL! UNITY TOMATO SOUP 6!/2-Oz. Can BROWN'S BEST DRY BLACKEYE PEAS T-Lb. Bag 29 COCA-COLA NEW 8-PACK 16-oz. Btls. Plus Deposit 89 UNITY FRESH CRACKERS 19-Oz. Box 39 JENO'S FROZEN PIZZAS 13'/2-OZ. Pkg. 59 TREND POWDERED DETERGENT Giant Box 69 Crystal White Liquid DETERGENT 48-Oz. Plastic 58 Golden Crown Pure Lemon JUICE 240.. Unity (All Flavors) ICE MILK Coleman's (In Quarters) PURE BUTTER Golden Krust Fresh BREAD $100 1 Phillips Unique MOTOR OIL 3 SI 00 Fireside VANILLA WAFERS .Bag Great Northern WHITE BEANS 39c CookiDg Ease (For Frying or Baking) VEGETABLE SPRAY 6-Oz. . Spray Can * PRODUCE DEPARTMENT U.S. No. T Sweet $5.99 BUSHEL POTATOES Lb. 19 Bell PEPPERS Each 5 Arkansas Red or Yellow Delicious APPLES Lb. 19 Fresh CABBAGE Lb. 10 Golden Ripe BANANAS Lb. 12 Fresh Lean GROUND BEEF Baby Beef RUMP ROAST Lb. 1 09 Baby Beef RIB STEAK Lb. $119 1 Baby Beef SIRLOIN STEAK Lb. I 19 Baby Beef T BONE STEAK Lb. $145 1 Quarter Sliced PORK LOIN Lb. 98 Rodeo SAUSAGE Mild or T-Lb. Hot R 0 n 79 Blue Ribbon FRANKS 12-Oz. Pkg. 59 Cedar Farm BACON 2-Lb. Pkg. 1 98 Cedar Farm BACON Ends and 3-Lb. Pieces ' Box 98 Banquet Frozen COOKIN' BAGS WE GLADLY REDEEM U.S.D.A. FOOD STAMPS 3 5-Ot $100 JHours: 7 to 9 Mon. thru Sat. -- 8 to 6 Sun.| Lindy Early JUNE PEAS Clear Sailing Cut GREEN BEANS Prices Effective Thru Saturday Can*

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