The Independent-News, Volume 88, Number 5, Walkerton, St. Joseph County, 30 January 1964 — Page 4

4

THE INDEPENDENT NEWS — J-‘n. 30. 1961

Walkerton Didn't Mean Goodbye Forever

A few weeks ago. when we saei , ><Kiby< t*» an «>1 i fi un i, referring to the mn ml St. Johcph County 1\ mies. s|«aki: g from th* Waikert m angle, we didn t mean to uy mb a < »m---ph ‘e gOOdhyc 1t was I< Umm I ju.d rxently that Walk. i■ m Would e lunphtHy out t It next yt *r ind ’ it a t ■ ■am t.. om-v betw* en Gr< n< New < kJ ity, wo '■ 1 b<‘ h« bi at t tier North L‘ ’ G lt rr< Th«n by 1P66. the 1. • ,rn ' • *n eg St tram toum* V w:*s ’xpcclvd au h three er' ants fi mi Mar hj I <O • V The tear s that have been mentioned uc I J’az Tyner a: I Tnt< i. Os the e thn*e. Triton (formerly Bourbon. Tipp* anoe and Etna Greene) is the only I one sure to still l»c a separate school at this time Should the school board t» be chuted for Polk-Un In-.lohr - r in M v d.side to -in. Walkerton and Tyner in the coming y. ir

It Is In Their Hands Now

The story released that a school is needed for the southwest end of the South Bend < Sihoui Corporation was given by an advisory committee chosen of persons from Greene, Lib* crty and Warren Townships. Tie report gave the school board the figures of a potential 750 students of high school age in the n« xt few years. Tus would oome from the an*as now feeding North Überty, Greene and Washington of South Bend. However, it was made dear by one member of the South Bend School Board, that this was not a large enough school to offer a complete < urrtculum.

■ WASHINGTON AND 0 ■ "SMALL BUSINESS’’ ■ By G WILSON HARDER I I

A 79'c majority of the na < tion's independent business pro- I prietors. votu g through the Na- 1 uor.al Federation of Indepen- i dent Business favor the meas- I ure introduced by Rep Bruce i Alger of Texas which amends I the U.S Constitution to pro- * vide no treaty or international

a g rr«men!| shiill a IT ec 11 the rights ofl U. S cit.zemß unless a p K prosed by the I Senate t •• • I Il well t«l consider Ihcl b a < k k r ound I lead ins l°|

this proposal. C W n»rd»r In the < omtltution there i* • ptoMw that any foreign treat) oxer rid<-» any national. Mate or local la* whkh may tn < < n flht with the term* ol H» r treaty <M «our»r, a* originally written, all treatu * and agrermrnt* had to be ratrhrd by the Senate Until the end of tturld War 11. this «unslilntional provis ion did not mean mu> h. a» all foreign treaties were ap prosed by the senate, and all were entered into with the beat interest* of American* upperBut formation of the United Kaluna changed all this While to the public at large UN wu ao.d as a forum fur all nation* to discus* openly their differ encea end seek a pea< cf 4 k at Uon, lite "one worMtrs really expanded the m ix- ot the or ganUaUmi Actually I N I* working toward all j*ropl« * cm trolled by one big w'-rld gw ernment Largely due to diaarnahm. within the IN. the full »mpa< •f thia < ontrol lu» «»»* bcei manifest hut th* re are dis »Una within the I N whi h ar« *oppo*cd la । ontrol all faret । * *«.. -. • . » ■* ’■ ; '

or the year after, this would dm mate one 'of Ue schools. Ud’uz and Likeville will have to be together in the not too dihant future This could make the am ial me *, pne that would haw ’■ have* the teums decided Jmost v< ir to year for a lew years. It w is rather disappointing to H.-c \\ Hketon oblige the group < <| ... kly and get out They ■ .<ve t any pint the school a*ed to have and j-.la •. of the s hool towards t ,n ath'vtu program is not one that is going to r« -tore this spirit ox< r night Everyone always liked the larger eight team toumoy. It wag alw ■ . • . ■ ■ ■ ?ccially under the set up It has op. rated c giving the dudents more of a chance to mix. Tins will be gone next year with mainly hope for the year following of ret timing to this type of tourney.

And this was the purpose behind the reorganization program, a chance to offer a complete curriculum to the students by doing away with the smaller schools and combining them into lai ger ones. ReganlleKS of any report given them, the Board still ha i the power to make decisions । and it has been proved in the i past, they don t seem to mind hurting people in this manner. . Only time will tell the answer of this board which never will carry mon- than two member* - from outside of the South Bend City limits.

of indis idual life, such as the International Labor Organhation. the FOA U> control the world'* food supply, and UNESCO set up to p rear ri be what school children in all nations are to be taught. e e e In these various divisions the people of the United States are represented by functionaries of the State Dept . and due to machinations beh ind the scenes, they do have the authority to commit the people to many courses without the eon sent of the Congress. Fuither complicating the situation is IN admission with full voting power* of the many new nation* in Africa and elsewhere with no previous background showing they are mature enough to vole in a world body Thu* many things cnuld hippen to destroy the rights of the American cilisen. • • • A* an obviously extreme ex i> j > the new Afric an nations get tlw ON vet* U.at all traffic |K«liee in al) th. world n ust *|Hak Swahili Dm would mean that every V S town would have to make sure its traffic officers spoae this African dialect. o o • Os course, the threat could be removed by disbanding the UN and starling a new world organixoUoti with Ho scope row fined to the activities for which the mayority of Americans thought the UN was set up for in the first place Hut this could result In no organisation providing tor tree discussion It i* rnu. h bettei l<> keep nation* talking together. Thus passage f the measure proposed by It cp. Alger would protect ! truer h an < HUyn* from preaent .n- tant harard of losing hber ' on dec fsiun* of a < oalition of ugo bongo drum beaters in.au li no » * —*”>

F) 1 KB

FEBRUARY’S FORECASTER UP, OLD rRO ^T^ I He? lA/ORL-D AWAITS a ' ' U 5. Rbw SHALL THE VVINDS SLOW ? SB v _ * JmEI 4 X' '■ ' '■ *' * ’4*»' ' “ ■ I 'a > J J . § r ra:n ' •' ./ ( h JI ’tr ~^L M _ ,/ «IT •' aT’ ^LM 7. •- “L Ip i

Your Community And You

(This is the last in a senes of articles concerning the financing done by the states and their mum< ipabtie> They are brought to you, a citizen, voter and taxpayer as a public service 1 States and communities, like businesses, have balance sheets. Their analysis, or interpretation in g< neral, requires the same appn».u h Beyond the imjKu tam c of such technical inquiry, however, hes ‘ the sizing up of the character or nature of the area involved Many factors, both economic and social, hl.ould ix- gath cred about the community to determine it- attitude toward it past debts and those to be inc urred in he future Has it been rejm.risible or careless? It the community has a record of default on interest or principal on its bonds, was it due to a lack of good faith or because of circumstances genuinely beyond its control? If a community is currently prosperous, it .should be detemined to what extent th* prosperity Is dependent upon one or a few industries or many divei sifted ones The latter circumstance offers, of course, greater economic stability to a community's prosperity. Communitiejcompletely lacking in industry must be studied almost completely from the viewpoint of pei capita wealth versus per capita debt. A review of local government characteristics is necessary Occasionally a prosperous area can uffvi fr<>m mad. quatv or d. de n•st administration A- in business management is an nnjortant sac-

tor After the general social and economic character of a community has been determined a look at the more tehnical aspect* of its debt structure is in order. The debt trend of a community refers to the ratio of the debt to the valuation of its taxable property ThH ratio is important for self-evident reasons We can dig deeper Communities net up schedules for the service of their debts Tins requires the utmost In careful planning to allow a community to issue new debts from time ’<» time with, ut thi ■ ing the cost of debt service • of line If you live on a budget, you understand Annual debt service ho ild be care fully related to a u<mumij • total annual i. uw l ' There i - no rule of thumb on Uu*

matler. however, if a figure as much as 25 per cent of the annual budget is set aside for debt service, it should be considered rather high A final, excellent rule of thumb to measure a community's adequacy in meeting the responsibilities of a new n-uc All bonds should mature within the estimated life of the improvement for which they have b< en issued Thus far, we have been talking mostly about the obligations of municipalities, not state Considerations of credit are similar ex< ept that communities rely most heavily on real estate taxes: slates, however, rely to a much greater extent on income from gasoline taxes, motor vehicle license fees, state income taxc« sales taxes and other indirect income sources. Killing Municipal ( rwdit The rating, or should we say the judging, of the quality and character of municipal bonds usually requires highly qualified specialists, trained in this field For this reason two independent advisory services. Moody's Investors Service, and Standard and Poor's Corporation. sjieciai/A- in analyzing states and their municipalities and make'it their business to assign ratings to their bond issues tn terms of quality. These ratings. while not infallible are extremely valuable as guides to investors in tax-exempt bunds. Tlierr is usually a relationship between the ratings assigned and ( the interest rate which a community must pay on its bond i sues Highly rated bonds usually obtain the lowest interest

F toi 0v T $1 p 0 w k & omioi um AM tvtart RM yuhuviam • W9T a Wit liN wWe awwwWßWwl Me 1 •WWrWInM IWT January 31, IMS. The United States bought the Virgin Islands from Denmark, January 31, 1917. The United Mutes Supreme Court, Jahn Jay preaiding, held Ms first meeting. February 1,17 N. The IS. look pomeodon et Guam, February 1, 1899 February 2 b Ground || o g Dey. The National Baseball League w»% for med. February I, 187 b The Illinois Territory, including the present Mate of Wisconsin, was created by act of Congress. February 3. 1K99 Sam Rayburn was circled Speaker of ihr House, February 3, 1945. The IMullipinr American War began, February <» 1899. The iMriiun Krvolutmn mded. February 4. I*B3. Ihr I hiver*itv of Wisconsin wan founded. February 5. 1819 Julia Haid lluwe uiute "Ibe Baltic livmn us the Republic,” February 5. IMbl* The Treats <>( Faria, signed Frbiuary 6, 1899. cudvd the Spanish Amnican War.

rate; that is to say, the xounde? the community is financially, th> less risk there ia for the investo and, therefore, the less intenhe will be paid for what risk, d any. he docs take There are also, many good quality issues which are not rated because the amount of indebtedness of the community is less than the mini mum which the servl ex u e as a criteria for rating. Many a community lacking a prime quahl\ rating, nevertheless may burr«> the money needed for new sch<s> roads or water and sewer sv terns required by growth. Know ing investors recognize tl < prublcn and glady Invest in l< than top rated issues. Dun and Bradstreet pub detailed reports issued by bank insurance companies and large investors. giving complete statist i on many of the states and thvi municipalities, including an opinion concerning the important ere dit factors without aligning a specific rating as such liespite all the criteria *•' forth in this aeries of the pa>' three weeks, you. the eitisri the voter, the taxpayer, mu* de termine whether your communi! will keep abreast of the times b properly financing the const n tion of up-to-date school*, road hospitals, etc through approv municipal bond issues or whoth. - the community through the lac ■ of a real public information p’ - gram or poor administration w.. relegate itself to a place of me ! ocrity. An informed American citiz voter, taxpayer, is frequently a an informed American investor.