Business Mirror Â·y JOHN CUNNIFF AP Buiineu N*wi Annlyit NEW YORK (AP) - The energy and initiative required to mail a preacldressed envelope by midnight tonight is all that stands between certain shareholders of American Telephone Telegraph Co. and a worthwhile sum of money. This is the last day, that is, for thousands of ATT share holders to cash in on their company's tremendous capital raising project, shareholders participate, acted' yet. All 3.1 million were invited to Thousands haven't For the owner of 105 shares of ATT stock, (his failure to respond to the offer is the equivalent of declining a cash gift of $45.94, based on prices before tiie opening of the slock market today. John J. Scanlon, treasurer, reports that returns through Friday were slower than for a roughly comparable 1958 offering, but that a late avalanche of mail is still expected to make the offering a big success. This is the story: ATT needs money to finance expansion. The total was fixed at $1.569 billion, a record sum for this, the largest corporate entity in the world. It decided to seek the money from its own shareholders. A complex financing plan was announced last January. ATT decided to entice its shareholders to come up with the money by offering this deal: Every stockholder was declared to possess rights in the same number of his shares of stock. For each 35 rights, or shares, the stockholder was entitled to purchase a $100 ATT bond, technically called a debenture. But why buy a $100 bond at its foce value when the same bond could be purchased in the market at between $97 and $98? For this reason: --The purchase of a bond entitles the owner to receive two warrants, each entitling him to buy, anytime between Nov. 15 1970 and May 15, 1975, a share of ATT common stock at $52 a share. "Some bargain!" you ex- night in the preaddressed envelope. A check will be sent to him. --Sign his name on the clearly of the certificate that transfers the rights to another person. This person must be named on the form. And, of course, that person then must mail his order for bonds by the midnight dateline. What must be remembered is that the rights have no value after midnight. If the stockholder still wishes to become involved in the offer, he must send $100 and 35 rights, again to be postmarked by tonight. If he doesn't possess as many rights as he needs, he may purchase these by filling out the appropriate section of the certificate sent him and sending it in with his order. The money for the bonds must accompany the order. He will be billed later for the additional rights. Life's Like 'I hat "WE COMMUNICATE,ALL RI6Hl! ATA COST OF ABOUT 5K A WORD !* Vietnamese Mean To Stay claim, noting that shares o: ATT closed Friday at $46.75 each. True, that's the price now but that price can reasonably be expected to climb above $52 a share during the next five years. In fact, a good many people are willing to bet on this occurring. Therefore, they are willing to pay you more than $9 each for those warrants, should you be inclined to sell. Your $100 bond is really worth more than $115. Rut. you ask, hnw can a shareholder of 105 shares stand to lose more than $45 if he doesn't mail an envelope by to- nicht? Kor this reason: Those rights have also taken on a value of their own. A market lias developed for them; a lot of investors are willing to buy those rights from shareholders. At the close of stock market (ratline; on Friday, you may note, the price of ATT rights was 7-16 of $1, or .4375 cents each. If a shareholder owns 105 rights, their value early today was .$45.94. However, a good many people who do not intend to buy those $100 bonds apparently feel thai the matter is therefore closed for them and that they can toss the return envelope in the wastebasket. If they do, they toss away the value of the rights. For that reason, every ATT shareholder is compelled, in justice to himself, to take some action. If he wishes to obtain the market value for his rights he has theseo ptions: --Sell the rights to a broker although it's pretty late for that --Signh is name on the clearly designated line of the certificate sent to him and mail it by mid New Punishment PADUCAH, Ky. (AP) - John W. Joyner and his wife are suing South Central Bell Tele phone Co. for $10,000, claiming menial suffering because of er roneous telephone calls. The suit, filed Friday in Me Cracken Circuit Court, statec the couple brought the matter tc the company's attention anc was told "it's the work of prank slcrs." The Joyners said that whe their telephone was installe last year, they were given number already assigned to an other customer, whose nam was listed in the directory. When the 1970 directory wa issued, the Joyners said thei number was carried beside an other person's- name, and th listing for them is an incorrei number. They charged that South Cen tral failed to advise them tha an intercept cou\d be placed o the line to divert wrong cal and that they have "suffere vexation, annoyance, anxietj great mental pain and suffe ing." STUTTGART -- Civil scrvic workers have an annual 8 pe cent raise in pay scales. By PETER ARNETT Associated Prest Writer NEAK LUONG, Cambodia (AP) -- At this neat little ferry lown 23 miles inside Cambodia, Nguyen Cao Ky gave voice to intentions that have become increasingly obvious in the current Indochina crisis: the Vietnamese army expects to stay in Cambodia a long time. "There is no deadline for the withdrawal of Vietnamese troops," South Vietnam's vice president told a cluster of newsmen Tuesday. "The future depends on a common plan with the Cambodians. If they really need our help we will stay here. We will stay until they feel they have the strength to fight the Viet Cong and the North Vietnamese by themselves. Only then will we go." Firepower Evident As Ky spoke Vietnamese fighter-bombers roared across the Mekong to support Cambodian troops fighting to the west of tljÂ£ river. The mottled green uniforms of a Vietnamese ma rine battalion blended with the distant jungle foliage. They were moving to open Viet Cong "Once the war is over we can land the airfields to the Cambodians and they can use them," commented Ky, sounding very much like American planners at he time dozens of airfields vere being built inside South Vielnam. The Vietnamese have already determined the number of roops they can leave in Cambodia. "We have the 9th Infantry Division, which is our mobile unit; hen we have the task forces of Â·angers, marines and para- roopcrs, held Route 1 that runs through eastern Cambodia to the Viet- amese border. Speedy riverboats laden with ietnamese sailors were plow- g up the Mekong to the capita' 1 Phnom Penh and perhaps oinls beyond. A squadron ol elicopters newly supplied to le Vietnamese air force by the nited States roared overheac ith troop reinforcements to elp infantrymen move againsl nother enemy supply complex Ky himself was surrounded by cluster of generals, but he out azzled them in his black flying uit. His black baseball cap glis =ned with two silver stars de oting the rank of vice air mar -.al that he said he officially re nquished when he entered poll Cambodian Emergency He is ihe first South Viet amese leader to speak publiclyj _ or Saigon troops. "This is a Cambodian emer- greater distance from their own homeland. "The enemy has been hurt , ,, . -. ,, Â· , ..- very b;Â«i, this operation is our: lengthy role in Cambodia greJalest ' success ^ Ky said o f : the Cambodian venture. "If we ency," he said in English continue t h e e f f n r t to P revent ; Tliey need time to organize, lo xpand their armed forces. We an give them this time." How long would this lake? "Certainly months, once we ave reached agreement with lie Cambodians," Ky declared. The Vietnamese military high ommand is already making ong-range plans, he said, such ;s building supply depots and ;irstrips. him coming back to rebuild, i will take years for him to recov er. For the moment the Cambo dian army cannot prevent them rebuilding. We must do thi job." ensorship JOHAiNNKSBURG (AP) - alculm Smith, editor of the hodesia Herald at Salisbury hen press censorship was im- osed by the Ian Smith govern- iron; bnjjianu lo I'ccenu uic.Â».i.m., .ui Pringle award of the South A f r i "'pj e ( (Q C j can Society of Journalists for " his "courageous fight against UNITED censorship." Editor Thomas Pringle fought for press free- f u ic i an v j i i i i i n (y\f Â· +Â·* " the mid-19GOs, flew hcreldom in South Africa. NATIONS, N.V. -- Pledges toward meet- lYouth Assembly here July 9-18 'amounted to more than $82,000 by this weekend. The latest contributors were Denmark, Fining the estimated $700,000 ex- land, Ghana, Norway, Sweden penses of the proposed World'and Yugoslavia. Depositors' Group Program BLUE CROSS BLUE SHIELD Inquire State Bank of Greeley F.D.I.C. he said. "Maybe about 16,000 men right now, plus .he air force and the navy." Fluid War More troops might be needed in the future, Ky said. "This is a fluid war, wilh the intentions of the enemy right now to escape to the mirth. We don't know what they intend to do--some day they might come back in force to attack Plmom Penh. We need more men to handle that." Asked if he was aware of President Nixon's plans to withdraw American forces from Cambodia by June 30. Ky replied, "I am thinking about, this problem of fighting without American advisers. That is why I am here today. We are now making plans to carry on in Cambodia without American support." Ready to Commit Ky's comments indicated that he was ready to commit South Vietnam to the defense and strengthening of the new Cambodian government of Lon Nol. Like President Nguyen Van Thicu, Ky seems ready to overlook the 'anti-Vietnamese nature of the Phnom Penh regime, which is expelling thousands of Vietnamese, for the long-term aim of spreading the war into Cambodia and thereby holding off the North Vietnamese at a Guaranteed Watch Repairing 6,50 Clpaning, Oiling and Adjusting Westview Watch Shop In Gilbert's Pharmacy 2424 10th St. FOR THE COLLEGE-BOUND __ GRADUATE ...an O/ymp/a Portable! Invest in your graduate's future -- with the world's finest portable! Prtcision-built for superior performance. Fully- Â·quipped with tht finest features...full-sized keyboard... front-set tabs...half-spacing...automatic paper support ...easy-set margins... distinctive type styles... handy carrying easel Test an Olympia today. 3 REALTORS 171 ARE ACTIVE MEMBERS OF ' ^ CONSTITUENT BOARDS . RKALTORÂ®. A professional in- real estate who subscribes to a strict code of ethics as a member of the local and state hoards of t h e National Association of Real Estate Boards. UNDER ALL IS THE LAND The ground upon which we build our homes and factories, drive our cars, stage our sports events and grow our food is the most basic essential in sustaining our society, our economy, and human life itself. The land upon which we conduct most all of our human affairs is something which we all take for granted, seldom stopping to reflect that it is the one thing we can never increase (or diminish). The land we have right now is all we will ever have, and that is why the judicious management of its usage is of utmost importance. "Under All Is The Land" is a phrase which makes up the first five words of the Realtor's Code of Ethics. To him these are not empty words. He understands what they REALLY mean, and what they imply . . . dedicated to preserving our land, to seeing that as we use it we enhance it, not destroy it. Â£ ^ a S B f c k (. All Brokers Listed Below, And Their Salesmen, Are Members of the Greeley Board of Realtors, the Colorado Association of Real Estate Boards, and the National Association of Real Estate Boards. AUSTIN AUSTIN 1203 nth Street DON BUEL REAL ESTATE 1024 Dili Avenue. Suite 2 CARBAUGH REALTY 2225 9th Street COWAN REALTY 2001 9th Street FERCH AGENCY 516 Main Street, Windsor FLINN AGENCY 40S Main Street, Windsor GIBBONS REALTY 9)6 Sth A v e n u e GILBAUGH AGENCY 9M Sth Areuuo DICK HOUT REALTY 3U2G Vf. Sth Street Road SONNY JOHNSON LAND COMPANY 2313 Sth Street LUNDVALL REALTY Jill ISlh Street MITCHELL REAL ESTATE 202 Hesled Hldg. APPRAISALS ASA T. JONES JR. 920 llth Street AGENCY JOYNER-SUTHERLAND REALTY 1018 9th Street KEYS AGENCY 910 Sth Avenue LARSON REALTY 2305 10th Street LOTT AGENCY, INC. 9IS lllh Avemio MOORE REALTY 922 l l t l i Pn-eÂ»t OPDYKE AGENCY, INC. 1000 lOih Sircct. Suite 2Â»3 SCOTT REALTY CO. 1212 Sth A v e n u e SEARS REALTY 140 I Â» e u v u r A \ e i i u e , Fort Lupton STAR REALTY 1102 13lli Street LEON STOLL REALTY 2701 \V. lillh Street TIME REALTY 923 liith Street TRIANGLE REALTY, INC. 1213 11th Avenue WASSEMILLER REALTY S05 20th Avenue WELSH ASSOCIATES, INC. SH 10th Street WHEELER REALTY CO. 3331 Sth Avenue STAN WILLIAMS REALTY 1210 9th Avenue Bankers Life Co. of DCS Moines, Empire Savings Building Loan Assn., First National Hank (Real Estate Depf.), First National Bank of Denver (Mortgage Banking Division), Greeley National Bank (Real Kstate Dcpt.), Cache National Bank, Greeley Tribune (Advertising Dept.), Mountain Savings Loan Assn., Northern Colorado Savings Loan Assn., Security Abstract Company, Weld County Abstract Investment Co., Weid County Hank (Real Estate Dcpt.) Visit Our Booth At The Centennial Occupational Fair June 17, 18, 19, 20, Greeley Community Building.
What members have found on this page
Get access to Newspapers.com
- The largest online newspaper archive
- 9,800+ newspapers from the 1700s–2000s
- Millions of additional pages added every month