The globe-independent. (Hagerstown, Md.) 1943-19??, 1953-09-24


mess in the coming year.
l don't mean heads of large stores
OF industries, but little fellows like
myself, and many to whom l have
talked seem to be confused by the
contradictory statements that are
being put out by the various agen-
cies and financial experts.
Here are three examples of con-
fusing opinions that I have heard
expressed.
Speaking before the Hagerstown
Chapter of the National Association
of Costs Accountants, 1. Wayne Kel-
Ter, president of the National Or
ganization, stated that, in his opin-
ion, "a decline in the level of gen.
eral business, perhaps as severe as
10 per cent, is expected in the next
six or twelve months"
Riding home from the office the
other night with a friend of mine,
he told me that at a recent meeting
he attended in Washington, D. c.,
financial experts stated that there
was enough money in the savings
accounts of the banks in the country
and in negotiable securities, such as
war and defense bonds, not only to
buy: every automobile that is being
manufactured in the country; every
house that is being built in the
country; every electrical appliance,
such as television sets, washing
machines, refrigerators and freez-
ers; and still leave in the banks,
and negotiable securities, something
like twenty nine billion dollars.
And finally a recent statement
from the Secretary of the Depart
ment of Commerce stated that there
were more people employed in the
United States today than ever be-
fore.
Is it any wonder that we little
fellows are confused by statements
like these?
Not only are these statements con-
fusing, but they have tendency to
brighten people and here is an ex-
ample of that:
Talking over business conditions
with the proprietor of a small store
the other day, he said that there had
been a very noticeable drop in his
business during the past weeks.
When l asked him to what he at
tributed the drop, here is his an
swer,, in his own words:
II don't know whether it is because
of the recent race meeting here, or
whether the buying public has be-
come frightened because of the re-
cent rumors that business was going
to decline, and for that reason they
are hanging onto their hard earned
dollars"
This may be just a small thing at
the present time, but if these
rumors and talks about depressions
and recessions are not stopped, at
least until such time as there is
something very definite to go on, it
could have a serious and unnecess-
arily adverse affect on the economy
of the nation.
Robert H. HcCauley, who has been
the attorney for the Hagerstown
Gas Company for over forty years,
last week briefed the Mayor and
Council on the plan of the Gas
Company to ask the State Public
Service Commission for permission
to raise its rates about 10 per, cent.
Mr.. McCauley stated that he was
not asking the city administration
to endorse the proposed increase,
but simply wanted them to know
just why it was being asked for.
During his brief statement Mr..
McCauley pointed out that since
1850 the Hagerstown Gas Company
has had an increase of SO per cent
in the price they must pay for nat
ural gas that is piped into this area.
In addition to that, he pointed out
that during the past seven years
there has been a 10 per cent in
crease in their wage rate.
In conclusion, the attorney stated
that even if the approximately 10
per cent increase is granted, Hagers-
towns rate for natural gas will still
be lower than those charged in
Frederick, M artins burg and
Waynesboro.
1t was also noted that since nat
ural gas was introduced in Hagers-
town there have been two rate de-
creases one in 1850 and another in
1851.
At the same meeting at which Mr..