PAGE FOUR

THE DAILY REFLECTOR. GREENVILLE, N. C.

Monday, June S, 1959

Monday, June 8, 1959

An Area Airport Is Still Best Bet

People Still Like You, Buck

ilDS

Another step"in laying the groundwork for crea-tion Of an area air facility for Kastern North Carolina hangs in the balance Tuesday when the Senate gives final consideration to the proposal for an Eastern Carolina Airport Authority.

The need for more adequate air transpoVtafon for this area of the state long has been recopized. Also generally recognized is the fact that Eastern North Carolina probably will never have adequate air transportation if its communities continue to compete against each other for available air service. By joining together in a common effort, however, the area can demand and justify air service far superior to anything individual communities have been able to obtain by working independently.

During the past eight years repeated efforts have been made to create an atmosphere in which a joint effort to obtain adequate air service would be practical. Each time Ihings have progres.sed weil to a point only to be .shattered in the final planning tages because one or more communities decided it would go-it-alone in this maUcr of obtaining air service.

The proposed lefisiation now pending would provide an area airport authori|.y with .sufficient powers to move ahead with a joint plan for obtaining adequate air service if the various cities and counties choose to cooperate with each other. It \v>uld provide an approved structure under which plans i'Ould be developed and carried out.

Whether or not a joint effort woidd lie '<ucce.H,sful, w'ould depend, of cour.se, upon the desire of the in-

'Vlight Ask For Court Ooinion

By LVNN NISBET

ADVISORY There wm jsome talk around the Senate that the Supreme Court might be a.sked for an advlaory opinion on procedure in submitting the proposed constitution to ,vote of the people before the billa are finally f nacted in the House. Amendments adopted In the SenMe which resulted In third reading pnh.sage of the conatltutlon bill by a vote of 43-), leaves little doubt the House will accept the general provisions. Some minor adjustments can be worked out in conference.

Suggested wisdom of obtaining an advisory opinion stems from the double presentation of the courts article Senator Spencer Bell introduced a bill designed to amend to extstlng constitution by rewriting the Judicial sections. The exact phraseology ol that bill as several times amended In committee was incorporated In the whole consUlu-11011 bill. Both have now passed the Senate, each requiring a vote of the people to make them elfectlve,

Question Is: If both are submitted, and the people should adopt one and vcfle down the other, which vote would prevail? The situation would he that the people would have voted both for and against the court reforms.

Senator Bell and other staunch advocates of tlie bar cominlt-leea court recommendations contend that a favorable vote for that bill would count against an unfavorable vote on exactly the aame subject matter la the full coestltutiot.. Senator Lliubay WarrtQ and other* who support tbf eouaUtution commLssiun hill, IncludiE# court reoimi, insist that Is Mkiax two biles out of one cherry They say either the whole thing ihould be offered as a new consUtuUon. or separate bills for each section as amendment* aluHiid be prepared, with only one vote chance at any o' them

PACKAGE Senator Warren cbtalned adoption of an amendment tending to hedge agiuiust piecemeal amendnu'uls IBs amendment would desiguale the ooctiment an "the Constitution of ItKiU.' Witlmul that elu.Ht*, whether approved in whole or in part, the product would still be the con.stitutlon of IHtik "h.h amended "

The constitution has been amended more than i;H) limes i in the past Hd years, bid only once has an entirely new text ' been considered by llm General A.sacmbly, That was in lusa, when the Legislature pas.scd the sub-inltUng bills, but by a fluke as Interpreted In advisory opinions by the Supreme Court ju.stice.s II w'RK never votetl upon by : the people.

That Indlcent has been wklelv publicized. The same I,egislalure which authorized vote on the Slate Constitution at the next general election" ordered a siie cial general election for a vote on repeal of the IKth (prohibition amendment to the Foh-nil <on-stllullon. Failure to submit the issue at that election prevenU^d submitting it later, since the requirement was for the "next general election "

Those who are eiirne.stly Interested in court reform and oth ers who are more coneernj-d about other constitutional provisions do tiot want to lake a chance of having all the work of two study commlsslorus and many flays in the Legislature negated by another legal or Judicial fluke.

The Justices may be ask! to give opinions on two questions. If the people vote for the eourt section separately on one ballot and the whole business, Ineliid-Ing courts , on another, and H'sults ate different, which will prevail?

Or, If the i>eople ratify isdh ideas, one a complete new text and one an amendment to one article of the present constltu tion. which would Indicate satisfaction W'lth the rest of It, which ronstitutlon would be controlling?

The question of dual nhrni.s* slon of one issue has nothing to do with tlu' merits of the old or new cofistUutlonal provlslon,H.

It has to do only with the me-fhanics of ratifying or refusing proposals submitted by tlie General Assembly. Statements made In fh)or debate Indicate there Is difference of opinion among Supreme Court Ju.stlees about merits of p*MHling propo sals. These personal feelings are not expected to Influence legal uecisions. In event the advisory Opinion Is requested POLITICvH - Nd)ody has In timated that the high court would play politics with this matter, but there 1.H definite evidence that poUllCB influenced adoption of thf nmiurment liinlllng reprsenla lion in the Senate to not more than one Senator for one county. The small counties Iniye euoiinh sliruglh iu the Leg-Uslatnre to adopt this provision, but the big counll's have enough Voters to defeat it at the polls.

rh>y do jn.sl that for n .slml-hu provision two years ago.i rtud Is wliy ndvoeates of court reform want two wlmcks at tlie (lUfStion and hoiie they eiui sub mlt I heir propn.sals In such manner a.s to fncllllalc ratification, without the burden of unpopular Itieas.

Inc.scHpablc eoncluslon Is that the constUuti>nnl revision bills have befu stK'ngthencd for leg Inhitivc support. I)ut probably \veak'nf'd for popular vote In, an elect Ion

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dividual cities and counties Involved to cooperate in the undertaking. But If the creation of such an area authority is approved, the framework will be provided.

Certainly there can be no harm In this approach to the problem of lack of adequate air transportation which this section faces. Creation of the area authority wiil not bind the cities or counties of the area to go through with any preconceived program. It will merely afford them the necessary organizationequipped with necessary powersthrough which to work toward that end if they desire.

In spite of opposition which has come from Sen. D. J. Rose of Wayne County and Sen. Dallas Allford of Nash County, the Eastern Carolina Airport Authority bill introduced by Sen. Robert Lee Humber of Pitt and Sen. Henry G. Shelton of Edgecombe should receive legislative approval. The merits which mem-beis of the Senate think the program ha.s is indicated by the 22-12 vote by which the Senate approved the bill on its second reading last week. When the bill comes up for its third reading in the Senate tomorrows it should be given approval. It should also be approved when the bill reaches the House.

A Change In Convening Date Appears Useless

'Phe House has approved and sent to the Senate a bill which would restore the January convening (late for the General Assembly in lieu of the February date adhered to in 1957 and 1959.

In more ways than one, this to us would repre-.^ent a backward step by the (general As.sembly.

The biggest argument for returning to the January date for starting legislative sessions is that it will no longer be necessary to wait until late April for revenue iistimates if the state adopts the income tax withholding plan. While this would apply where ifidividuai income taxes are concerned, it seems less than likely now that a provision covering corporations will be written into the withholding tax law.

'Fherefore it would still be necessary for the state jo wait until April to know how much the states income tax take is from businesses and the large number uf citizens who will not be covered by the withholding system. It is entirely probable that state revenue from these sources not covered under the withholding law will appreciably affect any budget esti-mate.s made prior to the time when such reports and payments are received.

By going back to a January convening date, the legi.slature would be handicapping itself in dealing with the all-important financial problems that must be faced every two years.

The February convening date for the legislature has worked well these past tw'o sessions, and has not brought about any pronounced disadvantages for the lawmakers. All things considered, it appears that legislation has moved along more smoothly with the later convening date than was the case with the earlier date.

While the legislators know first-hand the problems involved much better than tnose who watch their actions from the outside, there appears to us nothing to be gained and perhaps much to be lost, by moving back to the January convening date.

We trust the Senate will give thorough consideration to the proposal before concurring in the action taken last week in the House.

That Slichter

By ED CREAGH

That White House Beat

WASHINGTON CAP) Had a letter from a journalism student the other day. Hed seen my name over a story about President Eisenhower, and wondered how a man goes about covering the White House, I wish I could tell him. Ive been trying to find out since 1947.

All you really need is the strength of a lion, an encyclopedia in your brain, an endless capacity for boredom, and a family that is used to getting along without you.

It helps if you have a talent for missing meals, battling smalltown cops, passing up cocktail parties, hopping off moving trains, and when necessary

clawing press secretaries.

Marvin L. Arrowsmlth, who regularly covers the White House for The Associated Press, comes as close as anybody I know to meeting all these requirements. The rest of us occasionally fall by the wayside.

Ill never live down that time I missed a presidential press plane In Chicago.

One part of the White House beat consists in growing bunions on your spine from sitting around the lobby. Now and then you buttonhole callers from such exciting groups as the Save the Chipmunks Federation. Or you get a thriller-diller of a report on corn pone production

Other Editors Saying . , No Concessions To Make

ation ineorv

By RAl.Pff ROBEY

Simmer Slichter, of Harvard University, is widely known for his defense of creeping inflation. He maintains it U necessary to assure continuous econo-inlc growth, Other persons believe inflation is inevitable, although probably a majority of these do not think It Is desirable. A .small Investment firm recently issued a letter under the heading "The Blessing of Inflation.Its statements and arguments are almojit unbelievable llhlory Refutes Writers Thesis

Por example. U is said: "We know of no period In any countrys history wlten a consistently rising level of production has not been accompanied by rising prices " Had the writer of this looked at the history of prices and production In this nation he could not In honesty have made this slateiniMtt. During the elgh-t.e.s and up until 1895 we had a peitod of extraordtnttry growth. In the 192t)s we also had stable prlce.-i and growth continued. It WHS not lintil the depression of ilie 19;i*.s that tnflslion t>ecttme an official government policy. Hint u wrtMit tiw UCCPS.SU1 in bringing about prorerit.v.

It al.so Is said "that the only tmn\s of r*al dllar stabUity ha\ e been hard times," Tills is not even approxlmalely true. It \emild be more accurate to say that liard time.s are character-i/ed by ellber rapidly rl.slng or rapidly falling piice.s We had real dollar stahllUy from iu5l through I9.'5. and we had imth* ing lu.Hiifymg the term "Hard limes" during lh<i.e years Granted theie W1V.X a recession In 19.V4, hut 11 wa.s both mtld and short, ami by l9;Vi we were at new hlglus In protluctlon, employment gitKSN national product and all other broad economic tnea .Mires

Hen' Is another example of ama?,Ing logic "The pe>plc who I Hilt agaliud Inflation raUunallae tlieli ptKsltlon In the face of conlimnng reality; the success of inflation They aiwwer nor malcv hy pointing to s hideous leckomng in the future It hss to be hi 4he luture, becnu.se thei'c i.s no proof in the present that an IntelUgenlly administered tn-llallon wont work." No descrip Uon l.s given of an "Intelligent 1\ admliiLstered Inflation," but it ts pointed out that Russia and 1-inner have simply turned $IPP bills Into II doUar bills when ever the currency debasemcut

chased prices too high This, of course, la not monetary management at all: It Is the reflection of a nation finding itself in an Impo.ssible position and taking drastic measures to attempt to get back to a condition which makes continuation feasible. Germany in its great inflation might also have been cited.

The letter ends with this question "Would the retired people on fixed Incomes be retired at all xvuh any kuid of Income If It were not for Americas mighty, Inflation nourished productive power?" We have many millions of retired persons In this nation, and their retirement has not been the result of Inflation and their welfare has been hurt rather than helped by Inflation. Even with the many increases which have been made In social securtly, the real purchasing power of the pensions has not provided them with an easy life. Those who are Uvtng on their own .savings have had a drastic shrinkage of purchasing power Now what dor.K the record really show about inflation aiul growth?

First, It shows that there can be growth In teiiods of falling prices, stable prlci's, and rl.slng prices No one likes general falling prices but we need price flexibility, W'lth .some prices declining. and some rising In this way we can attain at leats reasonable price stabtltly overall, and that will contrilmte more to .sustulnable growth tl'sn either ilsiUH or falling price levels, t'unl F.srape Inflation "KalloiU" SiH'ond. there i.s no method by which the public can pro tct Itself again.st inllation. Some per,Hoiw may gain, but their gain will la* at the expeiwr of other persons There Is. In short, rw Uiethod by which one may guard himself. UKalnsl Inflation The mast he can do is Ir.'^sen lU bad effect.s upmi hintself Third, there Is no basis for as suming that li L possible to have a creeping inflation Those who urge a price rise of two or three per cent a year are Invttmg economlc disaster Finally, a rtolng price level is not conducive to rising produc tion. BusnuvMi does not, and in general will not, make an investment on the as.snmption that prlce.s wlU be higher and high er An invest m**nt is made on (he basis of possible prollts at current prices.

(Henderson Dispatch)

Premier Khrushchev said last week that the Soviet Union has no reason to make any concessions to the West on the German Issue. He added that Western proposals advanced at the Big Four foreign ministers' conference in Geneva do not "contain a single element for negotia-tlotus He does not negotiate on the principle of "concessloh for concession," the Moscow dictator declared.

On the contrary, the Western rroup has come up with the Idea of "leaving the divided city (of Berlin as It Is but removing flash points of possible friction." That in Itself is a step on the part of the free nations toward appeasement. It Is not surprising; actually it was feared and expected.

Herein lies the danger In getting together with Communists. They come up In advance with their propo.sais, always taking the Initiative, and leaving the West to wiggle like a worm In liot ashes trying to find a way out.

No one but the Russians has sugge.slcd any change in the Berlin situation. But the Kremlin moves on the theory that the way to gain Its ends is to off new propo.sals and shout its ultimatum with the Idea of getting whatever It can. and writing that down as a gam which definitely If Pi

Whal us going on at Geneva now hs but a foreta.ste of what may be expected if a summit meet

ing is held later. Anything that can be wangled from the Allied group is that much of a victory for the Communists.

The Western emissaries went Into this conference in the attitude of cringing before the Soviets and hoping that something profitable might result. The record of history ought to be sufficient to prove the fallacy of such an attitude. A concession now will be no more than the groundwork for further demands from Khrushchev later.

Why the free nations cannot and do not take the initiative has never been explained. Their policy Is to let well enough alone as long as Moscow remains quiet. Then the Reds come along with their threats and inch by inch wrest from the Allies a little here and a little there.

The attitude of the democracies Ls that of retreat in the hope of avoiding atomic warfare t hat could bring the destruction of civilization. As a matter of fact, that very danger is encompassing the world by the gradual erosion of the principles of freedom, so that the end results ultimately will be the same.

Free peoples must assume an aUitude of firmness fully as rigid as that presented by the Kremlin, Only In that manner shall we be able to save ourselves. Certainly liberty will not be preserved by steady retreat in the face of challenges from an ambitious, dictatorial hierarchy which constantly revels in the brandishing of pow^r as a means of attaining lls goals.

since 1903.

You never relax. Theres always a big story coming, and often when you least expect it. Then you sprint for your telephone, politely bashing in some other reporters rll^with your elbow.

Thats the time when you wish you had paid more attention in school to history, economics, political science and jiu-jitsu.

Eventually, sooner than later, you go "on the road" with a president. They all travel.

You go by plane or train or credit card car. or slump through the mud in your formerly shiny new shoes.

One day you live like a prince. A President goes to some suave resort and you cant lift your hand without finding a daiquiri or a Hollywood starlet In it.

The next day you may find yourself slomping along some trout stream trying to catch a glimpse of the president, who remembered to bring along fishing tackle while you didnt.

Then there was the time in Mexico when your correspondent discovered the only mud puddle in a drought-stricken province and sank himself up to the knees in it.

Or the time we followed Harry Truman down the Potomac in a world War I sub-chaser with ice floes chasing us and no toilet facilities aboard.

Its a great life if you can stand It. Anybody who can should be selected Immediately to be the first human being to be launched into space.

Opinions In Brief

Tt was bound to happen, what with Texas auto license plates being produced by the Texas Prison System. Paul Baker carried his new plates out of the courthouse, looked between them and found a scribbled note. It read: Help. Im being held prisoner. Dallas Morning News.

"The world Is still mighty hard to beat. Its a lot better than most ol us deserve. Bartow County tOfe.i Herald.

"A small town Is where there is no modern day hustleunlesvS there is a fire Greensboro tOa.) Herald-Journal,

How lO

Invest

By ROGER BABSON

BABSON PARK, MaJSS-, A small investor should first buy a little stock in the best bank in his coramuni^. Not only is this a safe in vestment; but it gives him prestige and a source of advice on financial matters. After buying the stock, he should get personally acquainted with the chief executive officer, who may be the President, Vice President, or Cashier.

(1) life insurance

AND A HOME

Theoretically, if w are entering into an age of inflation and and you are likely to live twenty years or so, life insurance should not be a good investment. You had better put the money into a small home with an adjoining vacant lot. However, you may not Uve twenty years, or even five years, in which case a life insurance policy would b your very best investment.

<2) BUY WELL-DIVERSIFIED COMMON STOCKS

These should be listed on the New* York Stock Exchange and approved by your banker friend or by a seasoned Investment counselor. They should be common stocks of companies without large bond issues or cumulative preferred issues.

(3) WATCH LABOR RELATIONS

The greatest clouds on the investment horizon today are creeping Socialism in Government and unreasonable Labor Leaders. Perhaps the safest rule is to buy the stocks of companies which have just been through long and difficult strikes, with a final settlement satisfactory to all. These companies should be free from major strikes for a considerable time.

(4) BUY FOR CASH

Put the certificates in a safe dep(it box in the hunk of which you have bought stock.

If you have all your stock certificates paid for, and will hold them, you cannot be wiped out when the next panic and depression comes; good stocks always come back. But those who buy on borrowed money or on margin usually suffer total loss.

(5) IMPORTANCE OF PATIENCE

For every stock buyer there must be a seller, irrespective of the price. Stocks go up when more people are impatient to buy^ while stocks go down when more people are impatient to sell. Buy your stocks when other people are frightened and anxious to sell. Fortunes are made - by bucking not by following the crowd, which is usually wrong.

(6) IMPORTANCE OF FACTS

Depend upon what the pub; lished manuals report, rather than upon tips by brokers or friends. You can always consult the manuals on file in the Trust Department of your friendly bank, free of charge. The Trust Officer will gladly help you interpret these printed reports.

(7) INVESTING FOR INCOME AND GROWTH

The small investor should buy for Income and Growth rather than for speculation. I believe that the stocks of Public Utilities offer the best such opportunities. Later on, you can learn to buy for profit.

(8) CONSIDER COMPANIES OWNING LAND AND NATURAL RESOURCES

The Government can print unlimited amounts of bonds and money: but only God can make more land, oil. gas, and miner- . als.

(9) IMPORTANCE OF CHARACTER

The value of stocks depends very largely upon the managements, This is something you must talk over with your banker. "nie manuals, card files, and other publications of the Trust Officer do not disclose the character of. the managements. Managements are apt to be the best in companies producing useful products rather than in the liquor biLsiness, for Instance, or even in companies dependent upon fashion and other intangibles,

(10 IMPORTANCE OF CORRECT TIMING

Stock prices have always moved In cycles of several years duration. Each cycle consists of four periods; Prosperity, Decline, Depression, and Improvement. Your banker will tell you it is unwise to buy for profit in a period of prosperity, as at present, or even in a decline. Wait for a depression when your friends ai*e bearish and the future looks dark. Such a time will come again, to be followed by improvement and a period of great prosperity.

Questions That Have Piled Up

Rv KLMFH ROF.SSNF.R

Rcftdiis questioivs pile up They are so thick on the de.sk the tranquilizer pills cant be found Lets burrow out.

Que.Hilon: How can I copyright the title of a newsletter I am planning'?

Auswer Titles cannot he copyright ed, Within llinlts, they can lM*conie trademarked Talk to a trademark expert.

Que.stlon; 1 have a legal problem

Answer 8top there? l m not a lawyer, One of the thins* that t.uzzle.s me is businessmens reluctance to take up legal prob-lem.x with lawyers Some think that lawyers are ".sharp They are Never retain any other kind OUiets feel that lawyers are like dejdgnmg women: that if you talk to one. youre hooked for the re.st j)i your life Noiuense. H von have a legal problem, dis-CUS.S It with a lawyer If youre alraui, talk over fees first If they are out of your range, pul ou your hat and walk out. No

charge If you dont knowr a gootl lawyer, sk your local bar as.so-clation fm* name.s to choo.se from. But dont take your legal problems to me, to your grocer, 0 to the boys on the corner. IS QllTTING UNETHICAL

Question: I have a product that i.s no longer profitable. Would I be unfair to my ciustomers, or unethical in any way, If I di.s-continued it ?

Answer If you have a contract with customers to keep Uiem supplied with this product, you mnat fill the contract, renegotiate it, or face suit. But outside ot that, you art free to discontinue products as you see fit. Ford discontinued Model Ta and Studebtker discontinued farm wagons Some people were there* by bothered, but none thought that these companies, or any others. had any moral obligation to keep turning out product* at a loss

< OMFETITIVE ETHICS

Question' One of my competitors has told me in considerable

detail about a project he is planning. Doe.s his confidence prevent me from taking advantage of that information

Answer: No. but be careful. He mu.*it have had some reason for leaking the information. He might have been trying to put vou under some obligation not to use It. or he might be spreading fahie story to bring about some st>ecial action on your part.

Question: I suspect my telephone* are being tapped. What should 1 do

Answer Have friends call you up and five you tips on long shots .saying in hu.shed whispers that they got the dope from the Jockey If this doesn't bankrupt your eavesdroppers, take It up with the district attorney.

Question A crewni is ad ver Used on televisin as beinig good fcr externally caitsed blemish-e.f Does that include bullet wounds

Answer If it doesn I ,ce your doctor

(Juesqon Aren't you gctung

Answer; I am never more flippant than when I'm serious. GOVERNMENT SEEKS MAKERS OF MANY .STRANGE THINGS

On request from the inventors, the Small Business Administration is trying to find manufacturera for these products:

An apparatus for watering cemetery plants unattended over long periods.

An insulated, foil lined paper cup.

A hand tool for applying lead weights to fishing lines.

A traveling case with secret compartments tJust Ute thing for smugglers.)

A steak tenderizing device with a series of knivet* that cut the fibers, making shank meant as tender as loin.

A decoy duck that ^p diving as if finding food.

An insect repellent that attaches to gasoline lamps.

A fishhook covered with barbs like a porrupine quiU, the book Keeps workLng in but can't slide