Newspaper Page Text
Coffee Prices Lead Spiral
Of Higher Food Bills
By
Dale Whiten
It’s probably not news to
most people that during the
last six weeks, the price of
coffee has increased con
siderably.
At most of the stores in
Jackson, coffee prices have
almost doubled, going up as
much as 20 to 40 cents a
pound for some brands in two
weeks.
Some of the better known
brands now cost from
approximately $2.60 to al
most $3 for a pound bag while
lesser known brands cost
between approximately $2.20
and $2.50 a pound.
The cost of a 10-ounce
container of instant coffee
now ranges from around $3 to
$3.50.
And some store operators
say that another price
increase will probably go into
effect within the next two
weeks.
Has the increase in coffee
prices affected sales? Some
merchants say that generally
sales have not been affected
by the higher prices, but
some contend that people are
really not buying as much
coffee and instead are
purchasing substitutes, such
as hot chocolate mix.
As in the case of the
tremendous increase in gaso
line prices in 1974, many
consumers have expressed
their feelings that the
coffee-producing nations
may have artificially raised
the price of coffee.
However, these countries
have countered this charge
by citing events which they
say have affected the
production of coffee and
sharply reduced the supply of
a product which ordinarily
has an enormous demand.
The major reasons the
coffee-producing countries
give for the increase will
probably, at the same time,
seem remote, yet signifi
cant, to many.
In Brazil, America’s num
ber one supplier of coffee, a
sudden killing frost in July,
1975, destroyed 60 percent of
the crop.
In November, 1975, Colom
bia, the number two exporter
of coffee to America, was hit
by severe rains which
flooded the coffee plantations
causing crop losses of
between 10 and 20 percent.
In addition coffee produc
tion in two other producing
countries was also seriously
impeded during this period.
The 1975-76 civil war in
Angola and the devastating
earthquake in Guatemala in
February, 1976, destroyed or
damaged much of the coffee
crops of these two suppliers.
And though the coffee
producing countries have
said they are working as
quickly as possible to repair
the 1975 damages, the
immediate future doesn’t
look too promising.
I Final 1
I Clearance I
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Coffee Breaks are More Expensive
Produce Prices Move Upward
Recovery will take some
time--at least three years the
coffee countries predict. The
recovery is naturally slow
because, the growers say,
coffee is a tree crop and the
new trees planted last year
won’t bear their first beans
until 1979.
In the meantime, the
major producing countries
met recently in London and
announced that before com
plete recovery is made,
coffee prices may go as high
as $5 a pound.
And added to the con
sumer’s spiraling grocery
bill, will be an increase in the
price of produce this winter.
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COOK’S MACHINE & LOCK SERVICE
-124 W. 2nd St. (rear) 775-4230
THE JACKSON PROGRESS-ARGUS, JACKSON, GEORGIA THURSDAY, FEBRUARY 3, 1977
This increase, which local
merchants say will probably
begin to be felt in this area by
next week, is due to the
subfreezing weather which
has destroyed or damaged
most of the vegetable and
citrus fruit crops in Florida.
Already tomatoes at some
of the local supermarkets
have gone from 49 to 79 cents
a pound. And in the coming
weeks, the merchants say the
prices of oranges, grapefruit,
tangerines and other fruits
will likely go up as the
quality of the fruit goes down
due to the extensive damage
to the crops.
Westbury
Volunteers
by
Mrs. Christine B. James
Regular activities involv
ing volunteers were conduct
ed during January.
Ten volunteers met at
Westbury on Friday, Janu
ary 14, for a business
meeting. Officers elected
were Mrs. Christine James,
president; Mrs. Gloria King,
vice-president; and Mrs.
Norma Jacobs, secretary
treasurer. Volunteer Service
Corps pins were presented to
all members not already
having one, bars represent
ing hours served were also
presented as well as a plaque
to ladies from Jackson
Second Baptist Church for
serving more hours than any
other group.
On Saturday, January 22,
43 young people from
Jackson, East Jackson,
Jenkinsburg, Stark and Flo
villa met with volunteers,
patients and staff members
to organize a Rock-A-Thon.
Rev. R. W. Jenkins, Chair
man of Butts County Heart
Association, spoke to the
group on the Heart Fund
Drive. Patients will rock on
Monday, February 14, and
Form 64p (State) (3-76) PUBLISHER'S COPY State Bank No
Consolidated Report of Condition of “ cs_h.._Sjt artes art k
Jackson j n state 0 f .....Georg i a an( | Domestic Subsidiaries at the close of
business on ....P©.ce.rnber...3_l f 19.7.6..
BALANCE SHEET ASSETS Sch. Item Col. Mil. Thou.
1. Cash and due from banks C 7 921 l
2. U.S. Treasury securities B 1 E 1 150 2
3. Obligations of other U.S. Government agencies and corporations B 2 E 400 3
4. Obligations of States and political subdivisions B 3 E 653 4
5. Other bonds, notes, and debentures B 4 E None 5
6. Corporate stock None 6
7. Trading account securities N 3he 7
8. Federal funds sold and securities purchased under agreements to resell .... D 4 400 g
9. a. Loans, Total (excluding unearned income) A 10 4 3S 7 * g a
b. Less: Reserve for possible loan losses 86 1 • '...i. p
c. Loans, Net 4 271 c
10. Direct lease financing N ~>np. 10
11. Bank premises, furniture and fixtures, and other assets representing bank premises 111 n
12. Real estate owned other than bank premises 3_ 12
13. Investments in unconsolidated subsidiaries and associated companies N i>ne 13
14. Customers’ liability to this bank on acceptances outstanding Nan e 14
15. Other assets G 7 76 15
16. TOTAL ASSETS (sum of items 1 thru 15) 7 985 16
LIABILITIES _Sch. Item Col.
17. Demand deposits of individuals, partnerships, and corporations F If A 2 006 17
18. Time and savings deposits of individuals, partnerships, and corporations .. F If B+C 4 86.3 18
19. Deposits of United States Government F 2 A+B+C 6 1 19
20. Deposits of States and political subdivisions F 3 A+B+C 157 20
21. Deposits of foreign governments and official institutions F 4 A+B+C None 21
22. Deposits of commercial banks F 5+6 A+B+C None 22
23. Certified and officers’ checks F 7 A 2 5 23
24. TOTAL DEPOSITS (sum of items 17 thru 23) 7 112 24
a. Total demand deposits F 8 A ... 2 157 a
b. Total time and savings deposits F 8 B+C I 4 1955 ; b
25. Federal funds purchased and securities sold under agreements to repurchase E 4 None 26
26. Other liabilities for borrowed money None 26
27. Mortgage indebtedness None 27
28. Acceptances executed by or for account of this bank and outstanding None 28
29. Other liabilities H 9 101 ~29
30. TOTAL LIABILITIES (excluding subordinated notes and debentures) 7 273 30
31. Subordinated notes and debentures None 31
EQUITY CAPITAL
32. Preferred stock a. No. shares outstanding None (Par value) None 32
33. Common stock a. No. shares authorized 25, QQQ
b. No. shares outstanding 25 , QQQ (Par value) 250 33
34. Surplus 150 34
35. Undivided profits 312 35
36. Reserve for contingencies and other capital reserves None 36
37. TOTAL EQUITY CAPITAL (sum of items 32 thru 36) 712 37
38. TOTAL LIABILITIES AND EQUITY CAPITAL (sum of items 30, 31, and 37) 7 98 5 .38
MEMORANDA
1. Average for 15 or 30 calendar days ending with call date:
a. Cash and due from banks (corresponds to item 1 above) 911 la
b. Federal funds sold and securities purchased under agreements to resell (corresponds to item 8 above) 477 b
c. Total loans (corresponds to item 9a above) 4 321 c
and. Time deposits of $lOO,OOO or more (corresponds to Memoranda items 3a plus 3b below) 200 and
e. Total deposits (corresponds to item 24 above) 7 129 e
f. Federal funds purchased and securities sold under agreements to repurchase (corresponds to item 25 above) Nc he f
g. Other liabilities for borrowed money (corresponds to item 26 above) Me he g
2. Standby letters of credit outstanding Nc he 2
3. Time deposits of $lOO,OOO or more:
a. Time certificates of deposit in denominations of $lOO,OOO or more 200 3 a
b. Other time deposits in amounts of $lOO,OOO or more None b
/,..W.R... Wfi.J. l 5......... C ash i .er , of the above-named bank, do solemnly { affirm ! tflat this report of condition
is true and correct, to the best of my knowledge and belief. r\ sj . A
Correct — Attest:
L.....M.... .McCord....
L......C.X. ...WeJb.b. .j. > Directors.
M......W.*.. Carmichael......Srv ../?h.,...fa!.>:£*:..3 1
y , „>
State of County of ss:
(MAKE mark FOk Sworn to and/subscribed before me this ivA day of , 19..1./..,
NOTARY’S SEAL) and I hereby certify that.l am,not an officer or director of this bank. ' /
My commission expires fL't 19./../... .srn:: .T.'r..'r. , Notary Public.
the young people will be
knocking on YOUR door
before that time asking
for a pledge for the patient
(their adopted grandparent)
that they are sponsoring.
Please be generous when you
are asked to help make this a
very special event for
rocking patients at West
bury. All money collected
will go to the Butts County-
Chapter.
Over twenty-four million
Americans have high blood
pressure. More than seven mil
lion don’t even know it. A sim
ple test by your doctor will tell
you for sure. Have him check
your blood pressure regularly,
and follow his orders.
Untreated, high blood pressure
can lead to stroke, heart
attack, kidney and heart fail
ure. Give to the American
Heart Association. They’re
fighting for your life.
@ CONSUMER
GUIDELINES
Keep the baby’s crib safe.
Film plastic coverings, har
nesses, zippered bags and
pillows can smother or
strangle a baby. Make sure a
crib is free of these hazards.
Nations Outstanding Young
Farm Couple Lives in Dublin
David and Pat Graham of
Dublin, Ga., representing the
Georgia Farm Bureau, have
been named the Nation’s
Outstanding Young Farm
Couple in competition at the
58th Annual Convention of
the American Farm Bureau
Federation meeting in Hono
lulu, Hawaii.
The Grahams, who operate
a diversified farming opera
tion in Laurens County,
received the award Sunday,
Jan. 9, during' the Young
Farmer and Rancher
Awards and Recognition
Program. They were finalist
from over 1500 entries from
Farm Bureaus in 35 states.
H. Emmett Reynolds,
president of the Georgia
Farm Bureau, said he and
the entire membership of the
state organization were ex
tremely proud and pleased
for the Grahams.
“David and Pat have won
the most prestigious award a
young farm couple in our
organization can receive,”
he said. “This makes four out
of the last five years a
Georgia couple has taken
the national honor and it
indicates the quality and
determination of the young
farmers in our state. We are
proud of these two fine young
people,” he added, “and it is
reassuring to know that in
the future our present
endeavors will be left in the
capable hands of outstanding
young people such as David
and Pat.”
David, 29, and Pat, 26, have
two children, Davey age 6
and Jenny 7 months. They
began farming in 1969 when
they purchased an eight
year-old tractor and share
cropped 225 acres. Since that
time they have steadily
added to their farming
operation and currently
produce cotton, corn, soy
beans, wheat, swine and.
cattle on over 700 acres. They
have also completely
mechanized their farm which
allows them, with the aid of
seasonal help, to completely
care for each crop from land
preparation through harvest.
The Grahams intend to add
to their farming operation in
the future and hope to
increase their total farm
acreage to a maximum of
1,000 acres as availability
dictates. They also plan to
increase their cattle to 80
head, increase their hog
operation to 50 sows with Six
months and to add irrigation
equipment to over 120 acres.
In addition to playing a
leadership role in the
Laurens County Farm
Bureau, the Grahams are
active in community affairs.
David is Community Com
mitteman for ASCS, a
member of the nominating
committee for the Produc
tion Credit Association, vice
president of Gideon Inter
national, manager of the
Oconee Election Precinct
and an assistant Sunday
School Teacher at Minter
Baptist Church.
Pat teaches the Young
People’s Sunday School Class
and is a Vacation Bible
School Teacher at Minter
Baptist Church. She was also
secretary for the Laurens
County Cancer Crusade and
was selected “Lady of the
Week” by the Laurens
County News the week of
Aug. 4, 1976.
Fresher Longer
Lettuce and celery stay
fresher longer if kept in
paper bags with outer leaves
intact than they do in
cellophane.