The Independent-News, Volume 105, Number 7, Walkerton, St. Joseph County, 26 July 1979 — Page 2

JULY 26, 1979 - THE INDEPENDENT-NEWS

NIPSCO Electric Rate To Increase The Public Service Commission of Indiana on Wednesday. July 18, approved an electric rate increase for customers served by Northern Indiana Public Service Company. The increase represents an average across-the-board increase of approximately 12.8 per cent to residential, commercial and industrial customers, and will raise the utility's electric revenues $61,466,751, on an annual basis. NIPSCO had requested an increase totaling $65,000,000. on an annual basis on December 27, 1978. Edmund A. Schroer, NIPSCO chairman and chief executive officer. said the increase was necessary to combat the continuing adverse impact of infiation on the company's earnings, increases in the cost of borrowed money, higher dividend requirements on new preferred stock, increased social security contributions, insurance and pension benefits, construction and property replacements, rising costs for materials, supplies, wages and other items needed to provide adequate service, and to pay for increasingly expensive environmental control facilities. "With present demand for elec-

Custom All Wood KITCHEN CABINETS [— —— All wood cabinetry of grained oak or cherry. , wgaaSiraj Choice 20 finishes and 11 door styles. ; i If you are building or re- ; modeling insist on all wood ca b* ne t s - For free planning service f I an d estimate call or write: P/ o^l HAROLD KANOFF [ [I ! L " 219-232-9500 KANOFF ENTERPRISES P.O. Box 3717, South Bend, Ind. 46628 MAbMR ♦ * A V : Burn More Calories : : And Less Gas ♦ | WITH A BIKE : I 1 SPEED 10 SPEEDS! ♦ 3 SPEEDS 12 SPEEDS: : : ♦ Parts — Repairs ♦ j LIBERTY BELL | : 135 N. Main — North Liberty J ♦ Open BUM To ♦ ♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦l

tricity growing at an annual rate of about 6 per cent, our present earnings must be sufficient to attract capital investment to build the facilities needed to meet customer requirements," Schroer said. "In today’s inflationary economy. the cost of borrowing money is high." the utility chairman said. "However, we must expand our facilities in spite of these high costs." "As long as inflation continues at a high rate, and government regulations continue to proliferate and drive operating costs ever upward, we will continue to require increases in rates to meet these costs — particularly those associated with high-cost and non-pro-ductive environmental control facilities," Schroer said. He said that a schedule of rates designed to produce the increased revenues would be submitted to the Public Service Commission Thursday. July 19, 1979, and will become effective upon approval by the Commission staff. As a result of the increase, a NIPSCO residential customer using 500 kilowatt-hours of electricity a month could experience an increase of $3.37 a month, after updating the base of fuel cost and purchased power adjustment to

current levels, while a residential customer using 1,000 kilowatthours of electricity a month could realize an increase of $6.25 a month, after updating these adjustments. The Commission determined that the rate increase, which was based on a test year ending September 30, 1978, represents a 7.35 per cent rate of return for NIPSCO when applied to the utility’s fair value rate base. NIPSCO serves approximately 359,000 electric residential, commercial and industrial customers in 242 communities located in the northern third of the State. NIPSCO’s previous electric rate increase — averaging 14.6 per cent across-the-board — was granted by the Commission on September 27, 1977. BETTER HOMES EXTENSION CLUB MEETS The Better Homes Extension Club met Monday evening at the Walkerton Community Building with 12 members present. The meeting was opened by the president, Helen Freeman, with the pledge to the flag followed by the club creed. Hostesses were selected for the coming year. The Club will go to the Wagon Wheel Playhouse at Warsaw on August 16 to see "The King And I". Plans are to have dinner at the Lucky Steer in Warsaw. The ones that are going are to be at the Community Building at 5:15. The drawing on the quilt will be held at the 4-H grounds on August 4. Helen Freeman has tickets for the drawing if anyone is interested. There will not be an August meeting. Hostesses for September will be Janis Hostetter and Ida Mae Watkins. The meeting was

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THE INDEPENDENT-NEWS Publication Number 261460 Robert E. Urbin, Editor Susan R. Urbin, Assistant Editor INDEPENDENT-NEWS CO., INC., Publisher 601-03 Roosevelt Road, Walkerton. Indiana 46574 Telephone (219) 586-3139 PUBLICATION TIME: Thursday of Each Week Second Class Postage Paid At Walkerton. Indiana 46574 SUBSCRIPTION RATES: 15c Per Copy; $4.00 Per Year (50c- Extra If Mailed Out Os State)

closed with the club prayer. Refreshments were served by the hostesses, Helen Freeman and Alda Ray. The door prizes were received by Gerri Ruby and Mary Hahn. CARDS THANKS W S I wish to thank my friends and neighbors for their kindness, cards, flowers, prayers, food and gifts while I was in the hospital and since lam home. A special thanks to my faithful neighbor, Louise

, MAX E. STEELE, INSURANCE , NOTARY PUBLIC 1 110 South Maple Street North Liberty, Indiana 1

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Crawford. Dorothy Meyers My warmest thanks to may friends and neighbors for the kindness shown me while I was in the hospital and since I am home. Jane Hockett Some people in the audience probably coughed and cleared their throats when they saw a dress designed by Serge Lapage in the January 1977 Schiaparelli collection Called “The Birth of Venus,” the dress was studded with 512 diamonds and priced at $1,500,000.

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