Decatur Daily Democrat, Volume 56, Number 204, Decatur, Adams County, 29 August 1958 — Page 2

PAGE TWO

Adams County Youths To Attend State Fair , 4-H Junior Leaders Exhibitors To Go On Saturday. Youth Achievement Day, rpany Adams county 4-H club members will be Attending the Indiana State Fair in groups, for one of the-last days before school begins and one of the last 4-H events the, state dress revue. In the state dress revue. Miss Carol Norquest, of the Decatur Peppy Gals, will represent the county, wearing the ensemble she made for her seventh year in 4-H work,'a black two-piece overblouse dress of doeskin flannel and a salt-and-pepper three quarter length coat. Her accessories will be black, including a black and white feather hat. She and her parents, Mr; and Mrs. Donald Norquest, will leave Stop That Cough ÜBE “OUR OWN” COUGH SYRUP KOHNE DRUG STORE

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today for Indianapolis, and she will spend the night in the Indiana state teachers college dormitories, with the other 92 competitors in the dress revue, which will be held at the Coliseum beginning at 2 p.m. As there will be no judges, Mrs. Norquest stated this morning, the members at the revue will select a winner among themselves, making the state grand champion the girl they like best. For the youth achievement day, several township clubs will go to the fair in groups, and three other special buses will go. Two buses will be fey the 64 junior leaders and 4-H exhibitors award trip. Along with county home demonstration agent Lois Folk, county agent Leo Seltenright, and county 4-H leader Eldon Holsapple, the group will leave about 6 a.tn. Saturday. _._L— , ...... Forty-six exhibitors in the county dairy project will go together, accompanied by these members of the dairy committee: Mr. and Mrs. Everett Rice, Roy Price, and Otto Lehman. Included in the township clubs which will attend the fair en masse include Union, Wabash and St. Mary's townships. If you have something to sell oi rooms for rent, iry a Democrat Want Ad — They bring results.

Benson Farm Bill Is Signed By Eisenhower GOP-South Congress Forces Bower Supports WASHINGTON ‘UPD — President Eisenhower today signed a i bill providing lower price supports ! and greater planting freedom, for farmers. The new law, enacted by a Democratic - controlled Congress, embraces much of the controversial farm policy recommendations of Secretary of Agriculture Ezra T Benson. It would permit lower price supports for corn next year and for cotton and rice, starting in 1961. The new minimum price flboF~for these three crops would be 65 per cent of parity. Supports now range from 75 to 90 per cent of parity, depending on supplies. The legislation also staves, off scheduled sharp cutbacks in planting allotments for cotton and rice growers next year, setting permanent minimum allotments of 16 million acres for cotton and 1,600,000 acres for rice. Corn growers will be required to chooSe by majority vote in a referendum next December between their present program and a program, of lower supports with freedom from all planting restrictions. There was little doubt they J would put the lower support proI gram into force. The new program, if it should ' result in lower market prices for I corn-, could -ultimately have a far- ‘ reaching effect on consumer ■prices for meat, poultry, and eggs. ! The price of' corn, the nation’s i major feed grain, tends to influ- : ence livestock prices. In terms of parity, the new law i permits supports for corn to be 1 cut to the lowest level since 1939 i and supports for cotton to drop to the lowest level since 1940. Parity >is a legal yardstick for measuring a “fair” price for farmers, ‘taking into account prices he pays > for things he buys. COURT NEWS Marriage Application I Charles A. Ommert. 36, Lake- ! view, O.; Betty Jane Billings, 37. Lakeview. O. Complaint Case Qomplaint for possession was I filed in the case of Indiana-Ohio Pipe company, an Ohio corporation, against Charles E. Hosier. Sumi mons has been ordered issued, rc- - turnable September 9. Affidavit for i immediate possession of property i and write of replevin has been ■ filed.

fICE DECATUR BADLY DEMOCRAT, DECATUR, ITOWbi

Hot Weather Showers Are New Forecast Labor Day May Bring New Rains To Vacationers Above-normal temperatures and a smattering of showers were predicted today for Indiana's Labor Day weekend. The holiday itself—Monday—may be dry with a slight cooling off from warm temperatures which are expected to predominate into the middle of next week. The five-day outlook called for temperatures averaging 2 to 4 degrees above normal highs of 77 to 86 and normal lows in the upper 50s and low 60s. “Brief cooling about Monday but otherwise only minor day-to-day changes,” the outlook said. The warm-up, which developed about midweek, sent temperatures mounting into the 80s throughout the state Thursday With Chicago getting 88, Louisville and Evansville —87. —Lafayette and South Bend 86. Cincinnati 84. Fort Wayne 82 and Indianapolis 81. The mercury dropped to the 50s this morning and headed for highs today between 85 and 92. Saturday highs will be “near 90” from Michigan to the Ohio River. The outlook for Sunday was fair and continued warm. As for precipitation, possible thundershowers were seen for the northwest corner of the state tonight. Despite the “fair and warm” outlook for Sunday issued in connection with state zone forecasts. the five-day outlook issued at the same time called for “showers occurring off and on throughout the period but mainly Sunday or Sunday night and again i about Wednesday.” The precipitation will average only one-fourth to one-half inch, however. Poe Fireman Defeat Monroe At Bluffton The Poe firemen defeated the Monroe firemen's team at waterball in Bluffton Thursday night, in another meeting of the Indiana Vol- ; unteer Firemen, 7th district waterball competition. Central Soya, Decatur. Bluffton, and Hoagland also attended, and Berne's team was not present. The next meet will be at Berne Thursday, Sept. 4. and the public is'invited to attend.

Highway Department Plans Surprise Sale GOP Department Has No Right SPENCER, Ind. (UPD—An attorney studied a surprise Indiana State Highway Department order today, announcing plans for sale of his client’s property for right-of-way, before making his next move. Willis Hickarp, attorney for Mr. and Mrs. Ivan Chambers, said the announcement of sale caught the couple and himself by surprise. He sjaid a recent settlement permits the state right-of-way through the Chambers property—not the right to sell it. The couple received 823,750 for an easement. Earlier, the state’s condemnation proceedings were tossed out of court. The Chambers property consists of a restaurant, combination grocery-filling station and residence. The latter is not on right-of-way acquired by the state, but Hickam said the couple plans to relocate the two other buildings in the near future. WORKERS (Cuntlunea nom ptff ww) program’s implementation for un-ion-represented employes are be-' ing arranged or are in progress ; with representatives of -the more I than 100 unions having reopeners i at this time. Similar arrange-; meats for salaried and other .employes not represented by unionsare being studied and discussed. More detailed consideration of: the program with the various unions will continue where appropriate under the reopener provisions : on “employment security matters” in most of the company’s’ five year contracts which run unt+l 196t0 Further discussions with; representatives of the IUE AFL-: CIO and the UE IND. are scheduled for September 2 in New York, i In a series of public statements. earlier this year the company has: explained why it would not be ini the interests of employes and the] public for it to increase the al-: ready contemplated dir.ect expenditures for pay and benefits, nor for costs of production to be directly increased through any Toss’ of flexibility needed to achieve the values customers demand. Consequently. the company proposals, call for revision of the features of current contracts with the total cost of the new proposals estimat- j ed to be approximately the same as presently contemplated expenditures. , The company's current contractual committments.- for instance, provide. <D Automatic pay increases of 3.48 percent on Sep-j tember 15, 1958 and 3.46 percent: on September 15. 1959. <2* Guarantee that the wage hike on September 15. 1958. will be at least 5 cents per hour. (3) elimination onOctober 1. IO of a 1 percent-of-; pay employe pension contribution. ;.4> increases in the minimum pen-j sion from s2.Oft to $2 25 per month: for each year of service, and <s> | continuation of the cost-of-living escalator. In its broadest terms, implementation of the new program involves . the employe’s willingness to in-' vest, 'instead of spend; that por-: tioh of the new additional income : beyond cost-of-living and adjustments which we would receive under the company’s current compensation program. Some of this, extra income would be invested in the program by the employe himself through his authorization of payroll deductions. The balance would be a proportionate deposit: in the program directly by the company on behalf of the employe.: This offers him the opportunity for a substantial beginning at once I on a regular, well-rounded invest-: merit program-tor growth-and protection free, to him, of jadministra-: tive expenses and personal incon-: veniences and one which provides important tax advantages. T h e: program is offered also as an aid

and service by the company to the employe's own effort* to provide for the future. In this way, the employe can place a significant multiplier on his new income to build for the future, while maintaining substantially his current level of living on his current income plus any cost-of-living escalator increases. Essentially, the new program would make it possible for employes while maintaining substantially current income, to have an investment amounting to 644 percent of straight-time earnings during the first year and 9 per cent the second year by means of changing the currently contem, plated pay increases of 3.48 per cent in 1958 and 3.46 per cent in 1959 to 2.50 per cent each year and postponing the effective date of these increases to January 1 of each year, as well as the effective date for the elimination of a 1 per cent of pay employe pension contribution. The contemplated increase in the minimum wage hike (to 5 cents) would go into effect with the rest of the program January 1. The cost-of-living escalator and the increase in the minimum pension from $2 to $2.25 per month for each year of service would continue without change as to effective dates under the contracts. The basic program provides for ~a proportionate payment by the company directly into the employes personal investment account of 50 per cent of employe payroll deductions up to 6 per cent of the employe’s straight-time earnings. There is, however, a special incentive beyond current pay levels during the first year. The 3* 4 per cent: will be made up of a 2.50 per cent pay increase the first year, plus 1 per cent resulting from the elimination of a 1 per cent-of-pay employe pension contribution when the program is: in force on a regular basis during : the second year, the company will | pay into the employee’s account; 3 per cent of his straight-time pay I as the employee participates at the: 6 per cent rate. As an interim transitional .sea-i ture, however, the company will deposit the full 3 per cent payment during the first year into the account of all employees who invest the full amount of their first year’s additional income 344 per cent in the program. Thus, by investing in the program the amount of his new be-fore-tax income, he will be a full, participant in the program. During the second year the employee: would be able to participate at the * full 6 per cent with his new addi-| tional income beyond current pay) levels. This would include the 34a I per cent additions during the first year, plus another 244 per cent pay increase the second year. The new program would supersede the present employee savings and Stock Bonus Plan which provided a company payment of 15 per cent of employee savings. While the holding period will enable the employee to convert his investments into cash on a periodic basis if he chooses, it is expected that many employees will wish to continue to accumulate their investments to build up the substan-’ tial personal estates that can be achieved by taking advantage of the program's features. This is a special airangement in the new program under which an employee may each year elect irrevocably to leave the company’s payments on deposit until his retirement to qualify for a more favorable tax posilion. The 85.000 a year employee* who fully participates in the pro-: gram will, for example, that his i total fund at the end of a 25-year * period average service to retirement would amount to about $17,200 if he had his own accumulated payments ($7,500.) and the company’s payments totally invested at- 3’4 per cent earnings rate. (The 3*4 per cent rate of interest is the one now applicable on United States Savings Bonds when held to matur-; ity). To the degree that the investment was in General Electric Stock there would, of course, also be an effect on the total from whatever has accrued in dividends and mar-

ket value of shares. Meanwhile, the employee is assured of his right to withdraw both i his total investment and the comi pany’s proportionate payments if 1 he is totally disabled, laid off for an extended period or if his job is i terminated because of a plant closing. In the event of a strike, he may 1 withdraw his own investment with- ’ out loss of the company’s proportionate payment provided he re--1 places such funds within a specified period after he returns to ’ work. Even the company’s payi ments which the employee elects to leave irrevocably on deposit can . be withdrawn in case of serious fi- ! nancial emergencies such as death . in the family, fire, or other disas- , ter without affecting the tax status of the "fund remaining trust. Among the many personal op- ! tions which the new program pro- - vides are the options to make var- - ious amounts of investments up to • the maximum of 9 per cent of » straight time earnings, 6 per cent i employee payment plus 3 per cent - proportionate company, the option ? for the employee to decide for him- • | self whether to cash in on various J: amounts of his investment or to >: continue to accumulate his estate, ’ and the option to have his total investment accumulated in U.S. Savings Bonds or in a combination of ’ bonds and General Electric Common Stock. ‘ J. S„ Parker, vice president of ’ Public and Employee Relations Services, who announced the pro- ( gram today, explained that its de- ‘ velopment was generated by the Company’s desire to work out a . i plan which woulo enable employees ,: conveniently to provide for their own personal progress and protection not only in periods of inflai j tion and recession, but also for the ; | longer future, including retirement ; j years. : “We have been conscious for some time of the growing concern I among our employees about the ! manner in which inflation erodes i away the financial foundation they | are trying to build for the future,” Mr. Parker said. “This concern was, we believe, crystallized during the past year when we witnessed the spectacle of repeated increase in consumer prices in the midst of recession and heavy layoffs in certain sections of the economy. “‘Accordingly, it has become increasingly apparent that General Electric employees are more interested in constructing a sound fi- : nancial base for the future than in I spending, as it becomes available, the new additional income theyre- • ceive from annual pay increases beyond those keyed to the cost-of-living. However, many have found it difficult to start the saving and the balanced investments that they would like to achieve as a hedge against both recession and inflation. Rearrangement of the company’s present compensation program for 1958 and 1959 provides employees the opportunity for starting such a sayings and investment program while maintaining substantially their current level of living. "We are trying to help provide employees with a practical and workable approach to their savings and investment problems” Mr. Parker explained. "Raising costs: beyond our current contemplated expenditures would not do dtr-as this would simply imperil the employment of those who are on the job and want to stay working, as j well as destroy the hopes sorer- ! employment for those who are on layoff and want to start working : again. It would defeat our Opera--1 tion Upturn which is now showing : good promise for building sales and jobs. Moreover, we are mindful of the pleas of President Eisenhower and others concerned with our national welfare to keep employee

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FRIDAY. AUGUST 2d, 1958

compensation arrangements from further feeding inflation and damaging the national economy. “Consequently, we searched for- - solution to the problem within the contemplated costs of our current committments. This led us directly into a rearrangement of our current committments in away that will permit the company to make the program available to employees, while at the same time supporting substantially the employees current level of living. “If we cannot work out the provisions of this program available to employees, while at the same time supporting substantially the employees current level of living. "If we cannot work out the provisions of this program to the satisfaction of the representatives of employees affected by our union contracts, we. of course, stand ready to compensate such employees in exact accordance with the way our original committments specify.” Mr. Parker emphasized. “The greater benefits to employees from this program are so real, however, that we will make the improved opportunity available to all of the many of our employees not represented by unions, even if some of the unionized employees should be denied the opportunity by their union representatives.” The program is subject to approval by the share owners and directors and to approvals and satisfactory rulings by state and federal authorities. More complete details of the program is given in the message to employees which will be published and distributed this week.

BOWER JEWELRY STORE Be Sure To See The Display of STANLEY HOME PRODUCTS AT THE VAN WERT COUNTY FAIR IN THE TENT EAST OF THE ART HALL. PRODUCTS WILL BE FOR SALE I