The Mail-Journal, Volume 23, Number 17, Milford, Kosciusko County, 23 April 1986 — Page 5

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SEEKING VOTES IN SYRACUSE — Tom Ward, 37-year-old Knox, Ind., attorney, shown here on the right, is the Democratic candidate for congress from the Third District, speaking to Opal Miller of Syracuse, and Raymond Kehr, Sr., commander of the Syracuse Veterans of Foreign Wars Unit 1342. Ward has been campaigning in all six counties that make up the Third District. He plans to walk along the parade route of the Milford sesquicentennial parade Saturday afternoon, June 7.

Behind the headlines —

Guess who's the sworlds' No. 1 banker

By PHILIPC. CLARKE Japan is the world’s biggest banker. The country that is flooding the world with cars, copying machines, TV sets, electronic equipment and what-not, has surpassed the United States in private banking and now leads in supplying new capital overseas. For example, bonds were issued in Tokyo to finance SIOO million worth of investments by the Southern California Edison Company. Eight Japanese banks put up the guarantees for $720 million general revenue bonds issued recently by the state of Oregon. Japan will lend France and England $2.4 billion to help build that historic tunnel under the English Channel. Meantime, purchases of U.S. Treasury bonds are now so great that they directly affect U.S. interest rates. Thanks to an unprecedented concentration of capital, Japanese banks now lead their American rivals in total volume of transactions, in foreign assets and in the soundness of their balance sheets. The reasons for Japan's wealth are simple: It enjoys the world’s largest trade surpluses and it has the highest per capita rate of savings deposits of all industrialized nations. There’s a third, indirect reason for Japan's relative prosperity: It spends far less on national defense than does the United States, whose forces have protected Japan ever since World War 11. In any event, there seems to be no end in sight to Japan’s accumulation of wealth. Indeed, some experts say that its emergence as a financial giant has just begun. The Industrial Bank of Japan, in a 1983 report, predicted that by 1990, Japan would accumulate S4OO billion in what are called current account surpluses — the sum of both merchandise and service transactions. Since then, Japan’s annual surpluses have been running far above the bank’s projected rate of increase. By contrast, according to the Commerce Department, the United States last year experienced a record deficit of $117.7 billion in its current account. This means America is now a net debtor nation for the first time in 71 years, and the third largest debtor in the world, behind Brazil and Mexico. But this is not as bad as it sounds. We’re a net debtor country because foreigners have invested more in the United States than Americans have invested

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abroad. Put another way, American investments are more attractive because they are safer and have been showing a greater rate of return. Also, the U.S. has succeeded in lowering somewhat the exchange rate of the dollar against major foreign currencies, a move expected to make American products more competitive on world markets. This, it is hoped, will reduce America’s huge trade deficit which last year hit a record $148.5 billion. Additional cooperation is needed, however, to deal with repercussions from Japan’s exploding economic and financial power. (Distributed by America's Future. Inc., New Rochelle, N.Y.)

Lay early plans for Syracuse sesquicentennial

(Continued from page 1) Ligonier with a great number of historical homes and the Garden Club will discuss adding homes with gardens to the walk. He will have a further report at the next meeting. Concerning the carnival, Hampton reported he has drafted a letter to send to 12-13 Indiana based carnivals including asking for references. It was decided by the group the carnival should be in operation throughout the celebration following Hampton’s request on the time period to have a carnival in town. Mrs. Patterson reported a list of groups and individuals to invite to the parade on Saturday, July 11, is being compiled and asked if anyone knows or sees a group he or she would like to have at the parade to give her the information. She noted an initial letter inviting groups and individuals to the parade would be mailed out by the end of summer since some groups require a year’s notice. Concerning the brochure, Mrs. Patterson reported a second letter to clubs and organizations was mailed March 1, urging them not to wait until the May 19 deadline for submitting histories of their organizations. She noted

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Julie Schwartz to be inducted into honor society

Milford resident Julie Dian Schwartz is scheduled to be inducted into the Indiana University, Bloomington, scholastic honor society Alpha Lambda Delta today during ceremonies on the southern Indiana campus. A freshman at the university, Schwartz is the daughter of Ron and Dian Schwartz, r 1 box 242. The honorary recognizes superior academic achievement by freshmen, with a 3.5 or above grade-point-average (on a scale of 4.0) required for eligibility. There are 196 Alpha Lambda Delta chapters throughout the nation, with a membership of more than 290,000. The IU chapter was established in 1931 and is one of the largest and most active in the country.

there has been very little response to date with only one club and four churches submitting histories. A list is also being compiled for the brochure listing those making contributions of SIOO or more to the celebration. It was noted Mrs. Patterson was contacted by a Cincinnati, Ohio, group for information on the sesquicentennial for a special map of Kosciusko County to be published.. Dick Wysong, chairman of the contests and activities, reported he has been surveying other area sesquicentennial activities and adding to the list of contests and activities he has. He questioned if activities or contests similar to those at the Mermaid Festival would be wanted and stated he would welcome any idea persons have. Bob Knudson, representing the library board, stated he would like to see activities and contests family orientated with several committee members agreeing this would be a good idea. Wysong stated it was time the group get a calendar together and begin slotting events. Mrs. Patterson suggested this was something the executive committee should do and present the calendar at a public meeting. A special meeting of executive

NIPSCO files settlement agreement for five-year phased-in electric rate increase

Northern Indiana Public Service Company on Tuesday filed a petition with the Public Service Commission of Indiana which included a proposal to phase in the cost of the new Unit #lB over a five-year period and to refund approximately $29 million to customers for the canceled Bailly Nuclear-One unit. A settlement agreement with NIPSCO’s large industrial customers filed with the petition provides for a 3.75 percent “across-the-board” electric rate increase on January 1, 1987, 3.75 percent on January 1 of 1988 and 1989, 3.42 percent on January 1, 1990, and a Bailly N1 refund of $29 million within 10 days of Commission approval, if the settlement agreement which would resolve all pending electric rate matters is approved by the Commission in its entirety. The agreement, if approved, imposes a five-year moratorium on other base electric rate increases. If this settlement is not accepted, it will be necessary to seek a traditional rate increase of approximately 21.5 percent and continue to litigate the Bailly N1 refund question. If the settlement agreement is approved by the Commission, NIPSCO will commence refunds of $29 million for the canceled Bailly N1 plant within 10 days of the Commission order and NIPSCO will withdraw its pending appeal in the Supreme Court of Indiana. The parties to the settlement agreement emphasize that the terms of the agreement are subject to the Commission’s approval. They are confident, however, that once the evidence in this case and the Bailly N1 refund case is reviewed, the terms of the settlement agreement will be seen as reasonable to both its customers and the company. Edmund A. Schroer, NIPSCO Chairman and Chief Executive Officer, said, “We made every effort to address the concerns of all of our customers regarding electric rates. Considering the installation of a new, environmentally benign, high-tech electric generating unit ($460 million) and improvements in the electric transmission and distribution system ($243 million) since our

committee members will be called in the near future. Jack Elam reported concernins the displays for the celebration that he has commitments from several groups, however, he is waiting to see what other communities have encountered. A question was raised as to what areas would be used for displays with it being mentioned there are three parks in the community as well as spots in the village. Col. Gray suggested several possibilities of getting buses here to bus people to the different points, using a trolley car and using school buses.

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last electric case (1982), as well as all other costs associated with providing adequate and reliable service to a unique service area, the amount of the requested increase is modest. “We are particularly aware of and sensitive to the economic difficulties of several of our large industrial customers who purchase a majority of our electric energy and who employ large numbers of our customers. Several meetings to discuss this rate increase were held with them prior to our filing of this petition and reaching the settlement agreement. Our goal is to minimize the impact of rate cases on our customers, increase their competitiveness and enhance job opportunities in the service territory. “These large customers have agreed that the settlement provides a fair and equitable manner to recover the costs associated with the addition of the new generating unit and improvements in the transmission and distribution systems. We are hopeful that an early approval of the settlement agreement can be reached and the Bailly refund issue resolved. While the company believes that the Indiana Supreme Court opinion does not mandate a refund and we have set out our evidence in detail in a pending Public Service Commission of Indiana proceeding, the comprehensive settlement proposed would be in the best interests of our customers, shareholders and all parties concerned.” The settlement agreement, if Approved, would resolve all issues regarding the necessity of NIPSCO’s present generating capacity including the new Unit 18, and set the jurisdictional costs of the unit at approximately $460 million. NIPSCO last petitioned the Public Service Commission of Indiana for an electric rate increase in November 1982 to include Schahfer Unit 17 in the rate base, and the Commission granted an electric rate increase which averaged 19.95 percent on August 4,1983. In a settlement on August 9. 1984, the 1983 rates were reduced by $lO million an-

Jeanne Gardiner reported there are a lot of people with items to be placed in the museum, however, no location has been found; but she is not giving up in finding a location. She did state the town hall is available for some of the smaller items. The committee will also be searching for a location to show old movies during the celebration. It was announced the May 19 meeting will be at 7 p.m. in the Scout Cabin and aIL those interested in the sesquicentennial are urged to attend this special meeting.

nually. The actual increase under the 1983 rates was 12 percent because of the settlement agreementand fuel and other cost reductions.

Augsburger appointed to study committee

INDIANAPOLIS - State Senator John B. Augsburger (RSyracuse) has-been named as a member of “the state Administrative Adjudication Study Committee to examine administrative procedures of state agencies. Augsburger’s appointment, to take effect May 1, was announced today by Indiana Senate President Pro Tern Robert D. Garton (R-Columbus). The study committee was established by legislation enacted during the 1986 session of the General Assembly to determine the need for legal changes to improve the way state agencies resolve disputes between the state and private entities, such as individuals or businesses, through administrative channels. Specifically, the duties of the committee will include studying the experience of other states in pooling administrative law judges in a single agency, identifying the types of cases before state agencies which would benefit by the use of a pool of administrative law judges, and estimating the cost of one or more alternative approaches to the pooling concept. Currently, state agencies utilize administrative law judges primarily for matters associated with a particular area of state responsibility for instance, environmental or workmen’s compensation issues. “The issue of administrative adjudication within state government is becoming increasingly complex,” Garton stated. “I am very pleased that John Augsburger has agreed to serve on the study committee. “Senator Augsburger’s depth of experience will add significantly to the committee’s ability to thoroughly examine this issue,” Garton concluded. The 12-member study committee will meet during the summer and report its findings to the Legislature by the end of the year. Recommendations made by the committee then may be considered during the 1987 session of the General Assembly.

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Wed., April 23,1986 — THE MAIL-JOURNAL

Simcox names outstanding area government students

Secretary of State Ed Simcox recently announced the selection of four area high schoolers as recipients of the Indiana Outstanding Student in Government Award. Named from Kosciusko County are Anthony A. Kinzie and Teresa Young, Warsaw Community High School; and Stephen S. Galegor, Jr., and Laura Haney, Wawasee High School. “Young adults have more at stake in good government and our country’s future than any other segment of the society,” Simcox said. “That’s why those of us who hold political positions today should do everything possible to foster and encourage their interest in the political process. The Outstanding Student in Government Award Program is designed to do just that.” Secretary Simcox has identified more than 350 high school students from both public and private schools for their achievement in the study of government. The students were chosen as outstanding scholars based on recommendations from government instructors at their schools.

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Simcox commended the students designated as award winners. “These young men and women are of top-notch quality, both academically and in their local communities,” he said. “We must look to them for the future. “I hope the students’ recognition through this award will not only strengthen their interest in government, but also help provide incentive for them to become involved in the political process. Today’s students are tomorrow’s community leaders,” he said. The award recipients have been invited to attend a presentation ceremony at the Circle Theatre in Indianapolis at 10 a m. on May 30. The 1986 Indiana Outstanding Student in Government, along with four other finalists, will be named and honored at the ceremony, where Governor Bob Orr and Superintendent of Public Instruction Dean Evans will speak. More oil The United States imports more oil from Mexico than from any other country.

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