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Ch mber Bond nrogram Has Favorable Reaction
Widespread publicity is being given the Gulfport Chamber of Commerce's program to rebuild its services through the sale of non-interest bearing general obligation bonds.
The $100 denomination bonds are being offered nation-wide and the response to the Offering “has been satisfying/’ chamber officials say.
Latest favorable comment on the plan appeared in the Tallahassee. Fla., Democrat under the byline of Malcolm Johnson, who writes the column “I Declare.-’
Here's what Mr. Johnson had to say
“Folks out on the Mississippi hurricane coast have drawn up a clever plan to help rebuild their town by letting the rest of us cast some bread upon their waters which may as the Bible says, return to us, ‘after many days’.
‘ The Gulfport area Chamber of Commerce is asking nationwide for loans of $100 or more to a rebuilding fund with no more than its promise to repay, with no interest, as soon as it can - hopefully beginning on the first anniversary of the date Camille struck.
“For every $100 it gets, the Chamber will issue a numbered bond. Bond numbers will go in a box, and periodically a few numbers will be drawn to determine which shall be retired. They’re looking for about $100,000, and candidly warn it may take several years for all lenders to get their money back.
“I like the idea. They aren't asking for handouts; only decent liberality from their fellow men.
“And if we in Tallahassee, or any other town, could raise a little fund among ourselves to buy a bond or two in the name of «ome relief trust fund of our
[own, the Gulfport people might I be able to send it back before (or when) some disaster befalls | us.
“The Tallahassee Chamber of Commerce board had something of that sort in mind the other night when it agreed to act as a
collecting agent for a Gulfport bond purchase fund in the Capital City Property it made no commitments, but there was talk of buying the bond in the name of the Leon County United Fund, which could take the repayment as a sort of a windfall whenever its number is drawn.
i “Of course, the United Fund people here would have to consider whether their own approaching campaign for next year's operating funds would be damaged by donations now to a Gulfport Chamber of Commerce bond purchase account. Certainly. contributors to this Culfport fund shouldn't consider it a part of their obligation to their 1970 hometown United Fund.
“If the Mississippians succeed at this, it could very well set a pattern for comeback disaster relief in the future. Every town could hold its Gulfport fund, upon repayment, for some future local emergency, or to buy bonds from the next disaster-struck area.
“Admittedly, this is pretty visionary. It might have worked well in the days before government disaster relief became so readily available. People used to react more directly and immediately than they do now to reports of distress elsewhere. I can remember, as a little boy, helping canvass our town for money to send to Tokyo after it was hit by that awful 1923 earthquake. It was dig and give, with never an inquiry about whether the gift would be tax deductible.
“Incidentally, the Gulfport
Chamber says it thinks these loans would be tax deductible if the repayment is reported later | as income.
“Money raised by the Gulfport Chamber will be used to carry on and broaden its own work, Director Cecil Kilpatrick said.
“The hurricane left it with hardly any members in business to keep up their dues, which is the only source of the Chamber's funds out there. At the same time, the Chamber is called on to provide relief headquarters, make business surveys and otherwise help obtain disaster and small business loans to get its commerce and industry back in operation.
“Also it has to keep up an advertising campaign to get | back the summer tourists lost! in the big blow - and to gener-' ally uphold the spirits of the; people. Kilpatrick said morale; now is high and growing. A sup-j ply of 8.000 bumper strips and: 20,000 lapel tags carrying a re-: building slogan was exhausted! in two days.	I
“So, Buddy, can you spare aj buck to buy a bond...to cast aj little bread on the waters?” i
Tucker Dies In Vietnam
WASHINGTON (AP) - Thej Pentagon said Thursday Army; Sgt. 1. C. James T. Tucker of i Tupelo. Miss., had died in thej Vietnam war not as a result of! hostile action.	:
HATTIESBURG MAN	'
KILLED IN ACCIDENT
HATTIESBURG. Miss. (AP)
— Herbert Sholar, 65, of Hattiesburg was killed in a one-car; accident near here Thursday, j
The Highway Patrol said the mishap occured on a Forest, County Road.	I


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