Decatur Daily Democrat, Volume 62, Number 34, Decatur, Adams County, 10 February 1964 — Page 8

PAGE EIGHT

8135 Million To G. E. Employes

Distribution to employees of $135 million in cash and securities was announced today by General Electric company in the biggest payout in the history of industrial savings plans. The $135 million includes cash, ’ S. savings bonds and General Zlectric common stock. Most of it went into the mail this morning. Some was set aside for later distribution, including securities employees want held in trust until they retire. About 191,000 employees have a share in the payout. Vice President Virgil B. Day said the employees accumulated the money through payroll deductions under two company savings plans. One of the plans — the newest and biggest — calls for General Electric to add $1 for each $2 an employee savds The money is invested in stocks and bonds and is distributed to the savers at the end of a threeyear bolding period. In a similar distribution last year. General Electric employees received $124 million worth of securities, a record at the time. Day, who is in charge of management development and employee relations services, said half a million shares of company com- .. mon stock and 1,695.000 savings bonds worth S7B million at maturity were sent out in today’s mailing Since 1959, he stated, more than 100,000 employees became share owners of the company for the first time as a result of participation in a savings plan. Third Acquire Stock AU told, about one-third of General Electric’s 520,000 share owners of record acquired stock under such a plan, he added. Noting that well over half the company’s 200,000 employees owned General Electric stock. Day said it was “healthy and encouraging to see this broadening base of company ownership among employees.” Day* also pointed out that General Electric employees have purchased better than $1 billion in U. S. savings bonds under payroll deductions dating back to the early days of World War n. The major portion of today’s distribution is being made under the second annual payout of the company’s Savings and Security Program, begun in 1959. With the company adding $1 for every $2 invested by eligible employees, employee accounts in the program totaled some $3lB million in stocks and bonds at the end of 1963. Some 85 per cent of those eligible to participate are saving some portion of their earnings under the savings and security program. Its second payout, representing employees’ 1960 savings and comADAMS THEATER - Last Time Tonight - Color Musical Comedy! ELVIS PRESLEY “FUN IN ACAPULCO” Ursula Andress, Big Cast! ALSO — Shorts 25c -65 c -0 Coming Sun.—“ The Prise”—Color Paul Newman Suspense Thriller!

Properly | FEBRUARY 28 j Listed? NEW TELEPHONE DIRECTORIES ARE BEING COMPILED If you have any reason to believe that your name or business listing may be incorrectly carried on the records of our company, or if you desire any changes in your present listings In the telephone directory, . xvo urgently request that you contact the Directory Department of ‘ the Citizens Telephone Company at your earliest opportunity. Merely call telephone number 3-2135 in Decatur (there is no toll charge in •vent you reside In territory normally paylnga toll charge to Decatur) and report the corrections or changes which you wish to be madeWe make every effort to maintain the information in our directory as accurately as possible and will sincerely appreciate any aid which you may be able to give to us. Citizens Telephone Co. PHONE 3-2135 "A PHONE FOR EVERY HOME"

pany payments, will deliver 427000 shares of common stock and U. S. savings bonds with a maturity value in excess of $34 million to more than 102,000 participants. Retirement Option Additionally, over 103,000 shares .of stock are being held in trust under a special retirement option. and in fractional shares held over until next year’s distribution. An earlier savings program — the General Electric stock bonus plan — accounts for distribution of an additional $44 million (maturity value) in savings bonds purchased by employees in 1958, plus 72,500 bonus shares of stock provided by the company and $1 million in accumulated income. This was the eleventh payout under the stock bonus plan since it began in 1948. "The fact that many employees are planning to use their invested savings for long-term opportunities — education of their children, for instance — should be good news for the economy in general,” Day said. "We’ve learned that their intentions are in keeping with the long-range benefits conceived by these programs. We’re proud of the way General Electric men and women have responded to the opportunity.” Day emphasized that this was the second annual payout under the savings and security program. Most eligible employees are continuing their participation and will receive savings and company payments next year and in following years at the end of each three-year specified holding period. Only Five Traffic Deaths in State By United Press International Traffic took a relatively light toll in Indiana over the weekend but the five deaths recorded pushed the 1964 highway death count today to 99 compared with 97 a year ago. There were no fatal accidents reported Sunday until late at night, even though roads in most areas were made slippery by light snow fall. Before midnight, however, James Erwin, 19, Knightstown, a soldier stationed at an Army missile base at Dill .oosrabsw’ killed when his car skidded on snow-slippery U.S. 50 near the base and crashed into a utility pole. Harry Dodds, 83, Seymour, reportedly hard of haring and partialy Ibind, was killed Saturday night when he stepped into the path ofan auto at a city street crossing near his home. » The other fatal accidents were blamed on speed. Paul Fisher, 43, Lancaster, Pa., was killed just north of Warsaw when his big truck missed a curve along U.S. 30 and careened into a swamp, pinning him beneath the rigMichael Hastings, 20, Rising Sun, was crushed when his convertible flipepd after sailing over a 35-foot embankment on U.S. 50 at Aurora. David Ratcliff, 36, Kankakee, Hl., became the first weekend victim late Friday night when his car smashed into a bridge railing along US. 41 south of Sterling.

INDIANA (Continued from Page One) ing period opens Feb. 25. Achor Adds Comment Judge Harold Achor, in a concurring opinion agreeing with Arterburn, commented that the veto power of the governor “is merely a limitation on the power fundamentally vested in the legislature.” “Such limitation therefore should be exercised only as it is expressed in clear and unambiguous terms within the constitutional provision,” he said. Judge Myers, who wrote the dissenting opinion in which Jackson concurred, charged that the three Republican judged “completely ■ misinterpreted the plain meaning of the Indiana Constitution.” Myers said the majority opinion had “fallen into a murky morass of semantics which has utterly twisted the true interpretation.” He contended that once a regular session adjourned "that session has passed away forever.” "Os course, the governor may call a special session within minutes of the general adjournment of the regular session, but it is a new, unusual and extraordinary session,” Myers wrote. Governor Welsh had no immediate comment after hte ruling was issued. Suffers Injuries In Wreck Early Sunday David M. Kitson, 23-year-old resident of 305 Oak St., suffered lacerations to the head and mouth in an accident early Sunday morning involving his automobile and a parked truck. Kitson was westbound on Monroe street when his auto crossed the railroad tracks and crashed into the left rear of a truck owned by Edward Imel, of the junk yard at 710 W. Monroe St. The auto was parked on, the north side of the street. The mishap occurrred at 4:45 am., and Kitson told investigating officers he had fallen asleep. His auto received an estimated S2OO damage, while the truck was not damaged. Very slight damage was the result of the city’s only other weekend mishap, which occurred at Monroe and Second streets, at 6:46 p.m. Saturday. A car driven bv Russell Henry Melchi, 61, of 1022 Une St. was eastbound on Monroe street, and when Melchi stopped in a line of traffic, his auto was struck in the rear by another eastbound car, operated by Ralph C. McCullough. 25, of Decatur. McCullough’s auto was not damaged and only damage to the Melchi car was a small dent in the rear bumped approximately $5. Show Patrol Film To Rural Youth Tuesday “Wheels of Tragedy,” an Ohio Highway patrol film, will be the feature of the Adams county rural youth meeting Tuesday evening. The meeting will be held in the Adams county Farm Bureau building at Monroe, beginning at 7:30 p.m. Tuesday. Adams county sheriff Roger Singleton and Sgt Braden, commander of the Ohio highway patrol post 81. at Van Wert, will present the film, which depicts the results of reckless operation of motor vehicles. Bob Andrews, vice president and program chairman, said that anyone between the ages of 17 and 30 who is interested in joining the rural youth organization, is urged and invited to attend the meeting.

THE DECATUR DAILY DEMOCRAT, DECATUR, INDIANA

United States Olympic Team Not Prepared INNSBRUCK, Austria (UPI) —The men and women from the United States who wound up as also-rans in the 1964 Winter Olympics today blamed their performances on a lack of preparation. In essence, Uncle Sam’s athletes and coaches agreed they made a molehill effort in preparing for this mountain of world snow sports. They are not cry babies, these lean and lanky men and husky girls from the states. However, they regretted the fact they will return home with only

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six medals while the Soviet Union won the unofficial team championship for the third consecutive time by bagging 25, including 11 gold medals. Kenneth L. (Tug) Wilson of Chicago, the president of the U.S. Olympic Committee, summed up the feelings of the Yanks following Sunday's closing ceremonies. “The thing is that people may expect too much from us, * said Wilson, a tall, grayhaired man who chews his thoughts carefully but speaks crisply? Cites Handicaps “Any great nation is expected to excel in everything and the fact is that we’re not a winter sports nation, he added. “One of the biggest handicaps we have is that after one of our athletes has had one shot at the Olympics he usually has to give it up and start earning a living, either as a professional athlete or in some other field.

• "Take our hockey team for Instance. We have trouble getting enough good players together for one Olympic while the Russians, Czechs and Swedes have all had their teams together for several years.” Bill Disney, a small, wiry man of 31 who left his wife, his three children and his job back in Rosemead, Calif., to race on the U.S. speed skating team, bemoaned the lack of facilities in the states to train teams for the Winter Olympics. "Year after year we complain about this but our plea falls on deaf ears,’ said Disney. “All U.S. officialdom does is wring its hands every time the Russians win another gold medal — especially in speed skating. Tracks Are Scarce “Speed skating is something we could excel in because it’s gaining tremendous popularity in the states. But where can a kid find an Olympic size track

in the U.S ? One in Butte, Montana. Another at Minneapolis. There is no Olympic size track with artificial refrigeration.” Disney hesitated momentarily to catch bis breath and then continued. “You can imagine how our hearts bleed for poor Lidia Skoblikova,” he said, referring to the blonde Russian who won four gold medals in speed skating here. "She said she had natural ice to skate on only five months in the jyeatt.' And Moscow has only eight Olymikcsized rinks. “We’d give our right arms for this kind of opportunity. But let’s face it. The Soviet Union has made a political thing out of athletics and has been capitalizing on it.” Speed skater Terry McDermott, the man from Bunny’s Barber Shop at Bay City, Mich., won the lone U.S. gold medal. But the big U.S. breakthrough came in the Alpine skiing events, for which American

MONDAY, FEBRUARY 10, 19M

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