Decatur Daily Democrat, Volume 56, Number 213, Decatur, Adams County, 10 September 1958 — Page 6

PAGE SIX

WOULD YOU SELL YOUR HOME for the amount you have it insured? Check your policies today! COWENS INSURANCE AGENCY L. A. COWENS JIM COWENS 209 Court St. Phone 3-3601 Decatur, Ind.

Ni‘|ih‘inl)iT Finn at Schafers I ' ' • VERY SPECIAL LOW PRICES ON REGULAR MERCHANDISE — • ONE-OF-A-KIND FLOOR SAMPLES GREATLY REDUCED IN PRICE • FIRST QUALITY FURNITURE AND APPLIANCES AT BARGAIN PRICES ♦ • LIMITED QUANTITIES — PRICES SUBJECT TO STOCK-ON-HAND REG. 159.95 . m SPEED QUEEN WASHER ■ * '-ii 'n- iij. s i | Lg* | I HIl ■At • Bowl Shaped Porcelain Tub f |< ,J liXri : I MI " • Heavy Duty Wringer / / | jTr • Double Wafl Construction / |C > ■ • Trouble Free Mechanism now s i 19-95 Ifand your old washer. J • fr*. ■' > MW ■m II ; .■' f n i 'M&i-1 ftft ■• • ■■*... l . ’...T REG. 249.50 ’ / Reg. 239.50 KROEHLER Modern two-piece Living Room Suite SIEGLER OIL HEATER Covered in a handsome brown metallic tweed NOW Reg. 189.50 KROEHLER two-piece Modern Living Room Suite $« X ft'°° * * Complete with Tank and Blower Covered in a durable and smart red frieze NOW *Hp 9 e Lifetime Porcelain Reg. 179.50 KROEHLER two-piece Modern Living Room Suite $« yg X *°° • Cast Iron Construction / Beautifully tailored coyer of green frieze NOW *HrRp ■ ’ • SIEGLEMATIC DRAFT •' Reg. 259.50 BERNE pair of Massive Half Sofas, pillow arm 00 Covered in an outstanding black nylon frieze NOW “X® NOW $ OO X' Reg. 199.50 BERNE Modern Sofa, X ft‘°° in a nubby wool beige tweed NOW Reg. 259.50 BERNE Gold Nylon Covered Half Sofas Aft* 00 — NOW *3F9 Reg. 239.50 BERNE Colonial Wing Arm Sofa S Iff ft* 00 Provincial PrintNOW — REG. 99.95 v,ues ' o ’ " 0 “pop 9 duo-therm heater GROUP OF TABLE LAMPS TABLE AHO FLOOR LAMPS , Reduced to $5 complete Reduced to SIO.OO complete * Model <l9 Im P er,al ' • WMnut Brown Finish • Radiant Panel Doors Reg. 259.50 KROEHLER four-piece BEDROOM SUITE 00 • 53,000 BTU in bleached mahoganyNOW *99 Reg. 279.50 KROEHLER sun tan Mahoganv 4 piece A A. OO xmiir BEDROOM SUITENOW NOW .. S 6 Reg. 129.50 HOWELL 5 piece DINETTE SET tea.oo white formica topped table—pink ChairsNOW 'J 9 / • Reg. 129.50 LEWISBURG 5 piece DINETTE SET SpvA.OO wood grained formica table—tweed fabric chairs__NOW /9 Reg. 156.50 EMPIRE 5 piece DINETTE SET ft -°0 Marble formica top with beige chairs NOW 99 REG. 89.95 Reg 89.50 EMPIRE 5 piece chrome DINETTE SET A. OO X UAAlim OUfETDm yellow formica with matching chairsNOW 09 iIUUVtK vWttl tK Reg. 109.95 EMPIRE 5 piece DINETTE SET SJWO.OO a M , T ... wood grain formica with beige chairs NOW /9 Model 31 u P n * hl • Automatic Shift ... * ■ ■ ■ • Power Driven Agitator • Beats As It Sweeps — As It Cleans. NOW - 400.95 '-“teLX

COUNTER PLAN (Continued from pase tmel which, because of the tax situation, would be reflected in GE’s net profit figure. The UE is firmly convinced that a shorter work week with no loss in pay and the correspondingly more jobs available for more people is a sound, answer to the present economic crises. On the other hand, the General Electric company has mace a proposal to the UE (as well as several other unions) that would provide no more

DECATUR DAILY DEMOCRAT. DECATUR. INDIANA

jobs, would provide no more security to those people who are still working PLUS if accepted by the Union would mean that workers would suffer a wage cut. This is the plan whereby the workers would put 3.48% due them in a wage increase, into a “.savings plan" and then the company would add 50 > to what the workers contributed. However, the company wants to workers to wait for this increase until Jan. 1, 1959 (it is due Sept. 15, 1958) this means a wage cut! Plus the fact that this gim-

mick is a general thing and if a worker decided he didn't want to take part in the plan he would not get the wage increase due him OR any part of the “savings plan.” 1. In its letter to UE, the company says “We propose no direct or indirect increase beyond these expenditures now committed.” In plain language this means that the company’s proposal contains no provision whatsoever for the expenditure of any company money. 2. This is the method the company uses to have the workers fi-

nance its savings program: (a) The workers postpone their negotiated increase of 3.48% due September 15, 1958, to December 31, 1958. (b) Workers give up the 1% deduction in pension payments from October 15, 1958, to December 31, 1958. (c) Not only do the workers give up increases for 7 months, but in addition, they are to take a cut of 1% each year, bringing the total : down to 5% from 7%. I <d) The company requests, that the contract be extended to January 1, 1961. ■> (e) On the 3% so-called company contribution, the company will not reckon vacation pay, holiday pay, over-time, incentive payments, social security and unemployment compensation contributions. 3. Although the company uses the workers’ money to finance this ' savings scheme, it calls the 3% contribution its own contribution. It comes from the 2% wage cut, the postponement of the effective date of the wage increases, and putting off the 1% pension contribution. Unless worKers save « full 6% a year, the company will add this 3% a year to its profits. Since the company’s payroll for 1957 was 1.4 billion dollars, 3% of that amount would be 42 million dollars, which is the sum the company could add to profits out of the workers’ wage increases each year. NOTE: In the first year, out of the goodness of its heart, the company will “contribute" 3% if the [ workers pay only 34 into the sav- : ings plan. 4. The company makes a great fuss about the fact that under certain circumstances, such as layoffs, : sickness, etc., workers would be able to withdraw some of their funds. For example, the company . says that if a worker is on strike so rover 2 weeks, he may with- . draw his own contribution. He can- | not, however, withdraw the 3%. ■ Moreover, if he does not replace the money he has withdrawn when he gets back to work, he will for--1 feit the money the company has consented to save for him. If the worker were to save his own money, he could withdraw any or part of it at any time without company permission. He would not lose part of his money under such circumstances if he withdrew only a part of it. 5. This scheme by the company would mean that the worker would have deducted from his pay an exorbitantly large percentage of his earnings. For example, the worker would have the following deductions : Social Security ... 2.25% Insurance 2.9% Federal Taxes ...-. 10% City or States taxes 1% GE Savings Scheme 9% Total Deduction^,..7 25.15% This is a huge amount of money to-be subtracted from the payroll of a worker each week. 6. The company realizes that a huge sum will be subtracted from the workers’ pay. The company has been actively propagandizing that even its miserly 5-year contract gives gains which “are obviously far in excess of what should be done in the sound interests of all concerned? 5 The company knows that if it could convince workers to contribute 9% of their pay to a savings plan, it would be able to say that workers are living so high that they do not really need any wage increases. The 3% of workers' money that the company says it will contribute will always be a separate amount that the company says it is giving to the workers. When wage negotiations come up, the company will use that 3% as an amount of money that workers are saving, providing that no wage increase is needed. 7. The company makes a great fuss about the capital gains saving of workers who agree to leave the 3% with the company in an irrevocable trust fund. It says that on this amount workers would have to pay one-half the tax they would othergains tax is a tax gimmick of prinwise have to pay. This capital cipal value to millionaires to help them avoid taxation they should justly pay. For a worker whose savings would amout to $l5O a year, this capital gains gimmick is insignificant. A worker could do better by leaving this amount in U. S. Government savings bonds and cashing them in at retirement age. At that time, his personal exemption from federal taxation becomes SI2OO and his wife’s exemption becomes SI2OO, so that on $2400 of income he has to pay no tax whatsoever. He does not have to pay any tax on social security payments to begin with, nor does he have to pay it on most of the GE pension payments. This $2400 exemption in two years would more than cover the amount of income he has accumulated by setting aside 3% of his earnings over 25 years, as now proposed by the company. 8. The company has been making a great hullabaloo about the advantages of investing % of these funds in company stock. This stock has fluctuated up and down. Whfle over a long period of time its value has increased greatly, at any particular time when the worker might need his money, he might find that the value of the stock has fallen so considerably, that he has to take a loss just when he needs his money most.

9. The company has been stressing the fact that a worker earning $5,000 income who is 25 years in this program, will end up with savings of $17,197. Actually, this figure is not accurate. The company says that it will only save the 3% it says it is contributing over that entire period of time. The worker’s 6% they return to the worker after each 3 year period. So that at the end of the 25 years it is not $17,197 the company is holding, but one-third of that, or the sum of $5,732. 10. Another important savings for the company is its cancellation of its previous stock bonus plan. Under this precious plan, if a worker bought up to $520 of Government bonds a year and kept those Government bonds 5 years, each year the company would credit him with stock equal to 15% of the savings. If he were saving the $520 a year maximum, he would get stock every year of the value of S7B. To induce people to join their now plan, the company offers any worker who joins the plan and contribues 6% of his income, one share of stock which is riow worth $64. For subsequent savings he gets no further stock. 11. Here are some additional ways in which workers can forfeit the 3% the company is saving for them: If a worker is on strike and withdraws his funds and does not replace them, he will forfeit the 3%. If the worker has sudden health or financial obligations at home and cannot continue his savings, he will forfeit the additional 3%. 12. The company says that even workers laid off for lack of work or who are on leave of absence can, when they come back to work, make additional contributions for a period of a year so that they can make up to 6 months of the 3% company “contribution” that they would otherwise have lost. It is difficult to see how a worker who had been laid for a long period of time could afford to add to the already substantial deductions from his take-home pay. The company’s plan in brief is this: take a wage cut of 1% each year for the next two years on the

mil* "rar monel I A Tailor Made Burnei ,or Round-Hot Air Furnaces and Boilers, Steam or Hot Water Complete with Safety Controls, Electric Gai Valve, Pressure Regulator, Ash- * _m pit Shield and Air Door, Room A most economical, quiet, Thermostat, plus the famous efficient, dependable unit, Columbia Air Cooled Safety quickly installed without Pilot alteration to your present Made by a manufacturer with heating plant. over 26 years experience building Gas Conversion Burners. HAUGKS HEATING - PLUMBING - APPLIANCES 209 N. 13th St. Phone 3-3316 OPEN FRIDAY & SATURDAY NIGHTS PUBLIC SALE REAL ESTATE AND PERSONAL PROPERTY Notice is hereby given that the undersigned will offer for sale at public auction the following real estate and personal property belonging to the estate of Ernest Balsiger located at 665 Clark Street north of Berne French Township School, on SATURDAY, SEPTEMBER 13,1958 Personal Property at 1:00 o’clock Real Estate at 3:00 o’clock REAL ESTATE—TEis is an extra well kept home with big living room; kitchen with built in features; 2 bedrooms with big closets; complete bathroom; plenty of room upstairs to make 2 bedrooms; good dry basement under home with furnace; oil water heater; and big cistern; has enclosed porch in front of home; 1 car garage; have plenty of room for nice garden; nice shade trees and fruit trees. YOU WILL LIKE THIS HOME AND LOCATION WHEN YOU SEE IT; home can be inspected anytime by contacting the auctioneer. ' HOUSEHOLD FURNITURE 665 W. Clark Street 2-piece living room suite; upholstered chair; one regular and one three-quarter sized bed with dresser to match; several wool comforts and wool blankets and extra pillows; 12x12 rug; carpet strip and several throw rugs; porch glider; table and dresser lamps; 8-day clock; alarm clock; table model radio: upholstered bench; small stools; end table; rocking chair; and other chairs; kitchen table with 4 chairs; gas cook stove; electric refrigerator; lot of dishes; cooking utensils; carpenter and garden tools; work table with vise; several other old tables; fruit jars and crocks; flower pots; 410 gauge shot gun; and many other articles not mentioned. TERMS—Household Goods CASH. Real Estate, 20 per cent down on day of sale, balance upon delivery of Executor deed and abstract. Purchaser assumes 1958 taxes due in 1959. Sale subject to approval of Adams Circuit Court. ** Not responsible for accidents. FOREST BALSIGER, Executor of Ernest Balsiger Estate Phil Neuenschwander, Auctioneer. Tel. 2-8105 Jeff Liechty, Auctioneer, Tel. 2-2261 First Bank of Berne, Clerk Howard E. Baumgartner, Attorney. CLIP AD

WEDNESDAY, SEPTEMBER 10, 1958

3.48% and 3.48% due, give up 7 months of these wage increases in the next two years to the company, allow the company to deduct the 1% pension contribution for an additional 24 months. For these contributions to the company, the company asks you to agree th let them save your money up to 9% of your pay (including the 3% they call a company contribution). The above wage cuts, if accepted by the Union, would apply to all; they are general. The plan is voluntary. If anyone does not participate they have only the wage cut to show. Beyond this, because of the control that the company exercises over this money, it reserves the right to withheld and confiscate portions of the savings under certain circumstances. Plan Baton Twirling Event At Waterloo The second annual baton twirling contest will be held at the Waterloo high school gymnasium Saturday, Spet. 20. Included in the contest will be twirlers, drum majorettes and corps in a national open contest. The event is sponsored by the Waterloo band boosters club. First place award will be $lO and second place $5. Contestants may contact Wilma Colbart, route 2, Waterloo, for entry blanks. 12 Persons Die In Alaskan Air Crash ANCHORAGE. Alaska (UPD — Engine failure apparently caused the crash of a C-47 plane at Elmendorf Air Force Base which killed 12 of 19 persons aboard, an Air Force spokesman said today. The plane, en route to Eielson Air Force Base at Fairbanks, was using a 10,000-foot runway and had just got into the air Tuesday when it suddenly veered to the right, crashed to earth and burned. Air Force officials were preparing a list- of the victims. Trade in a good town - Decatur