The Mail-Journal, Volume 16, Number 16, Milford, Kosciusko County, 9 May 1979 — Page 11
Milford's Main Street
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MEMBERS OF the Milford first grade class taught by Annie Bender visited The M-J office and printing plant last Wednesday afternoon. One group of youngsters is shown with M-J Editor Jeri Seely and a second group is shown with Room Supervisor Elaine Stichter and Connie Dausman. Youngsters" in the first group
Let’s Talk About 4. Capital Costs, Energy Supplies and Earnings What do utility capital costs and earnings have to do with adequate energy supplies? Actually, quite a lot. Let’s look at the facts:
Utility Capital Requirements Electric utilities are more capital-intensive than any other industry, including steel and oil. They require between $3.50 and $4.00 of investment for each dollar of revenue received. Other industries require only about 75 cents of capital investment for each SI.OO of revenue. As a regulated industry, utilities are only allowed to earn a retum on their investment sufficient to pay for their cost of money. This rate of return is a ceiling and not a floor. About 60 per cent of the money needed to add plant and equipment eachyear must be obtained from the money market through the sale of securities—stocks, bonds, debentures. etc. To meet the energy needs of consumers, utilities cannot postpone construction and replacement just because the cost of money is high. Most of the $1.9 billion NIPSCO has budgeted for new facilities in the next five years will have to be raised in the money market. And NIPSCO must pay whatever the money rates are. Our success in obtaining this money depends upon earnings since earnings determine our ability to pay our debts. If a utility's earnings are inadequate in the eyes oi the lender, money becomes hard to obtain and interest rates go up. When money is not available to build facilities, the bottom line is an inadequate supply of energy and deteriorating service.
WHERE EACH NIPSCO DOLLAR CAME FROM
Residential 29.3® lndus " ialsßsC TWNs. Commercial 89® Other 3.3®
(61. Warnings or net income —is the amount of money Jluremaining after all the expenses, interest, taxes and other costs have been deducted from the total amount received from the sale of services. The above charts show where each SI.OO of NIPSCO's revenue came from in 1978 and how each was spent. Here in the "Workshop of America,” where heavy industry produces the jobs for a growing economy, industrial customers provided almost 60 cents of every dollar NIPSCO received in 1978, while residential customers provided 30 cents.
TO SERVE, WE MUST BUILD; TO BUILD, WE MUST BORROW; TO BORROW, WE MUST HAVE ADEQUATE EARNINGS. Northern Indiana Public Service Company Paid tor by the Stockholders of Northern Indiana Public Service Company
with Carmen Butterbaugh and Mrs. Seely are Rhonda Bailey. Angeline Harman. Fred Garza. Pristine den Hartog. Lonnie Bray. Brain Wuthrich Julie Bender and Krissy Eisenhour In the second group with .Mrs. Bender. Miss Stichter and Mrs. Dausman are Clay Brooks. Cliff Wolf. Marlene Price. Jared Beer. Teresa Musselman. Brian Wilson. Curtis Shepherd. Jeff
Zimmerman and Steven Marquart. —O'JOHN REPLOGLE, head of a Milford Kiuanis Club committee, explained the rules and rewards of a club contest thusly: First prize winner to receive a week in Kentucky; second prize winner to receive three days in Kentucky; and third place
Energy Supplies and Service Here in northern Indiana, the need for electric energy—both in peak demand and kilowatt-hours—is expected to grow at a rate of about six per cent per year between now and 1985. To meet present load and this growth, NIPSCO must modernize, replace and build new generating and transmission facilities. Any delay will seriously affect its ability to meet the energy needs of customers. TOTAL COMPANY MONTHLY MAXIMUM DEMAND 2600 r I ~l I I I I I 12600I 2600 \ . 2400 2400 . . i —Hr ~ A/ aF- —— — ,5 “ 1200 "*■»■■■ 7 “ 1 1200 1 JIOOO ,00 ° 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 YEAR NIPSCO believes that a shortage of electrical energy in this highly industrialized area would seriously disrupt the economic well-being of all of the people living and working here. To prevent this from happening, we must plan and build now to be ready to serve whenever and wherever required. To do this we must have sufficient earnings to attract the money necessary to enable us to build.
WHERE EACH NIPSCO DOLLAR WENT
Taxes B.B® Dividends 6.3® -A f f Uigjggkjg 11 Operationsand —li Z 11 Maintenance 7.11 li —tt /J Interest and' I Other Deductions 3.5® g / ®5 ’ Depreciation 5.3® = Fuet / A Purchased Energy 60.0® Payroll B.B® /. Retained in the Business 0.2®
As for expenses, fuel and purchased energy take the ZJk biggest share of NIPSCO’s revenue dollar. The next two largest items of expense are labor and*taxes, with other expenditures making up the balance. From the chart showing “Where Each NIPSCO Dollar Went,” you can see why we must rely so heavily upon borrowed money for new plant and equipment. Last year only two tenths of a cent from each dollar was left for reinvestment in the business.
winner doesn’t have to go to Kentucky at all! —o— FORMER MILFORD resident Mrs. Floyd (Savilla) Fuller is a patient in the Martin Memorial Hospital in Stuart,' Fla., having broken her hip two weeks ago. She is expected to be released in the near future and Milford friends are urged to send cards to her home address: 1805 Vista Del Lago, Stuart, Fla, 33494 Savilla and “Sandy” sold their home on Main Street in Milford to Mr. and Mrs. Wayne Richardson some years back and moved to Stuart to be near their daughter. Virginia, and her husband. Robert Bushong. —O—FORMER FELLOW workers of Herbert (“Bud”) Felkner. retired r 2 mail carrier, honored him with a dinner in a Wakarusa restaurant on Friday evening. A total of 16 persons were in attendance. Felkner, an avid golfer, was presented a golf umbrella and golf balls. He was also given a glassed in shadow box with memorabilia of his postal career. —o— SOMEONE SENT us a poem written by Mrs. Eric Schiller of Ontario, Canada, years ago when she was a senior at Goshen College. Mrs." Schiller is the former Fran Stieglitz, daughter of Mrs. Henry Stieglitz of Milford.
Fran and her husband are the parents of two children. Suzanne and Daniel. The poem follow s: My Mom My mother Put up our hair in rags With strong, busy fingers. Held us in her lap after a 16hourday. Washed our young feet on summer nights. She read us from “Uncle Tom’s Cabin.’* And though we wept. We insisted on hearing more. She would tell us of our baby and childhood Over instant coffee-breaks.
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She was our physician: Cooling our fevers. Following the horror of castor oil with candy. Steaming our feet in hot water for Sprains, colds, or measles. She watched us grow, Loved our friends. And took us off to college. Now I am graduating and Will be leaving to get an Education like she has. At this time of year with Mother’s Day on May 13 and the Wawasee High School commencement set for May 20, we wonder how many senior girls have these same feelings? —o— RON BAUMGARTNER played the role of Sherlock Holmes briefly Sunday morning when he was a witness to a theft in Milford.
REPEATED IN 1979 BY POPULAR DEMAND! /I®*k Our Special Offer jL To /rat Senior Citizens 10 % Discount On Your Subscription To The Mail-Journal w (KWMMKNM) /ALJ «« f i To Be Eligible For Our Senior Citizens Discount Offer yW-—— -*3 '‘Vx You Must Be 65 i Hundreds of persons 65 and over last year took advantage of our special subscription i discount offer. Many had nice things to say about us making this offer possible . . . and we ! thank you. i i If you're not regularly getting The Mail-Journal, now's the time to subscribe . . . and save 10 per cent. Renewals also arp welcomed from senior citizens at these special rates. j Use this handy coupon and take advantage of this special offer. SPECIAL SENIOR CITIZENS DISCOUNT OFFER Select The Subscription Option Os Your Choice: Mail To: The Mail-Journal ( ) One Year in Kosciusko County slo.oo— 10% —$ 9.00 I P.O. Box 188 ( ) One Year Outside Kosciusko County $12.00 —10% — SIO.BO I Milford, Ind. 46542 I I am 65 or over and want to take advantage of your special subscription discount offer. Enclosed is my remittance I of $ • 1 ’ . ’. . It ■■ . '' ' ' ' ■ •" ' ( Name — — : ! .' ' . ' ■ I Address T — ■ aty State _ Zip This Is A ( ) New Subscription ( ) Renewal
He stood in the front room of his home on the comer of Catherine Street and SR 15 in Our Town and saw, to his amazement, a car drive into Bean’s Service Station. “It looked to me like they were breaking into the coke machine,” Ron related. He followed the car into the business district, and, sure enough, the same people attempted a break-in of the coke machine in front of Campbell’s Market. By now Ron became real suspicious, and followed the car to US 6 where a similar attempt to break into a soft drink machine was observed. Ron followed the car through New Paris and into Goshen.
Enroute to Goshen he tried to arouse police authorities on his CB. but to no avail. He turned off in Goshen and reported the whole affair to Goshen police, giving authorities a description of the car and the license plate number. It turned out the thieves did break open the soft drink machine at Bean's in Milford and emptied its contents. —o— TOMORROW IS the birthday of Jeff Meade, Bob Spearman and Rhonda McDonald. John Bushong will celebrate his birthday on Friday. Saturday is the date Evelyn Vandergrift and Nelson Beer will celebrate the date of their birth. Mother’s Day will see Don Charlton and Becky Scott celebrating their birthdays.
Wed., May 9,1979 — THE MAIL-JOURNAL
Monday is the wedding anniversary of Mr. and Mrs. Jack Sharp and the birthday of Raymond Bess. Pat Adams, Leo Anglin, Timothy Beer and Rachael Beer will be honored on Tuesday. Next Wednesday is the w edding anniversary of Mr. and Mrs. Robert Ruch and the birthday of Joseph J. Beer, Chris Wolferman and Krista Zimmerman. NEW SUB mail carrier at the post office in Our Town will be Mrs. Glen (Jean) Treesh. She is learning her job at the present time and will begin her official duties on May 19.
WILMA (WEYBRIGHT) Searfoss. here from her Arcadia. Calif., home with her husband Sam Ed to visit friends in the Milford and Syracuse communities. expressed disappointment to see the old Milford drug store building torn dow n. The building was purchased by the First National Bank of Warsaw. Milford Branch, and
’"“j S °* tt Sk ' Siding — Remodeling — Repair — Free Estimates — P.O. Box 301 Phone Milford IN 46542 219-658-4530
torn down when its usefulness no longer existed and remodeling became impractical. Visiting in Milford, Mrs. Searfoss recalled when her father, the late Delbert Hastings, owned and operated the drug store in that location for 52 years. He left the active operation of the store in the early 1940 s and passed away in 1952 in Milford. Mrs. Searfoss’s mother, the late Bertha Hastings, died in 1956. Mention of the long years of service Mr. Hastings gave his community as a druggist and community leader was unwittingly overlooked in the avalanche of publicity surrounding the purchase and tearing down of the old landmark structure. Old time Milford residents remember Mr. Hastings as a druggist of the old school who compounded his own drugs and who rendered* an invaluable community service. He was a true gentleman as well. This writer remembers sitting at his ice cream soda fountain and remembers the kindnesses of both Mr. and Mrs. Hastings as a mere lad. The passing of time seems to erode the memories of the good services those who have gone before have rendered to their communities. Mrs. Searfoss has a sister Mary living in California, a deceased brother John w ho lived in Arizona and a half-sister. Mrs. Ed (Corabelle) Grubb of Elkhart. Visiting points of interest that brought back memories to the Searfosses in both Milford and Syracuse. they recalled operating a restaurant on the northeast corner of the 6 and 15 road junction in a building that still remains, for a period of several years in the late 1930 s follow ing their marriage. Senior Citizens to meet May 13 The Milford Senior Citizens will meet in the fire station on Sunday. May 13, for a carry-in dinner and program. The meeting has been set for 1 p.m.
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