Rapid City Journal du lieu suivant : Rapid City, South Dakota • 3

Wednesday, September 25. 1174 for Mill Dlivrv Nt Qy Rapid City Journal 1 Ticklish bond market brings tolophonc bids soconds boforo deadline City coimoDDt plant records biggest production month a X.S:Uf( llliiiliilSlj process" kiln. Preliminary price quotations are in hand, but escalator clauses must be studied prior to further action, he said. "The price quote doesn't mean anything these days," Moore remarked. "The low bidder may turn out not to be the low bidder." In other action during Its monthly meeting Wednesday, the cement plant commission: Discussed but took no action on a proposal to upgrade terminal facilities at Aberdeen, which commission chairman Tom Kelley labeled "inadequate." Terminal facilities at Water-town and Sioux Falls currently are being improved.

Awarded Pioneer Ford of High-more the contract for a three-quarter ton pickup truck. The firm's $4,157 bid was $17 lower than a bid offered by Rapid Chevrolet. Awarded Gifford Electric a contract for new warehouse lights and Crescent Electric a contract for transformers. The bids were $5,528 from Gifford and $6,296 from Crescent on the lights and $2,727 from Crescent, $3,411 from Gifford and $2,845 from Platnsco-on the transformers. Discussed but took no new formal action on the disposal of obsolete machinery, the acquisition of supplies of low alkalai shale and Iron ore, and the search for coal supplies.

The plant will be fired by coal, rather than natural gas, when the expansion project is completed. Officers elected The National College of Business sorority Psl Beta Chi recently elected officers. They are: Jan Alger of Dickens, Iowa, president; JoEll Kuhn of Tappen, North Dakota, vice president; Sandy Thomas of Gettysburg, secretary; Nancy Gochnauer of Chadron, treasurer; and Barb Chrlstensen of Revillo, Student Representative to the President's Advisory Council By JACK GETZ Journal Staff Writer August was the biggest month In the history of the South Dakota Cement Plant from a production standpoint, General Manager William Scanlon told members of the state cement plant commission Wednesday. The Rapid City operation produced 85,000 tons of cement well in excess of its rated capacity during the month. Sales volume for the period amounted to $2.8 million.

The biggest day, Scanlon reported, was the 23rd, when 62 rail cars of cement were produced. He said the figures point up the current national shortage of Portland cement. The South Dakota plant, which now manufactures more than three million barrels of cement annually, Is engaged in an expansion undertaking that is expected to double its yearly output starting in mid-1976. Nearly two-thirds of the total product Is consumed within South Dakota. North Dakota and Minnesota customers buy about 10 per cent of the state-owned plant's output.

"We," said Rapid City attorney Donald Shultz, secretary-treasurer of the commission, "are going to be the cement capital of the Midwest for the next 40 years." Commission members also heard a progress report on the expansion project Tuesday from engineer Vern Moore. Moore said concrete work on a finish mill renovation project was delayed by more than two months by last summer's labor strike, but is now scheduled to be completed on Nov. 11. Both new finish mills should be operating within six months thereafter, and at least one of the new mills could be on Jine by March or April, he said. Renovation of the two mills is not considered part of the major expansion project, but a necessary forerunner to it.

Bid letting is "imminent," Moore said, for a clinker storage building. Somewhat further away Is letting of bids for equipment for the new "dry By SALLY FARRAR Journal Feature Editor Municipal bond market conditions -are so "ticklish" that Willys Jones, fiscal agent for the Rapid City School District, was taking bids over the telephone within seconds of the 11 a.m. Tuesday deadline. And, the board of education had to settle for bids on a 10-year maturity schedule, rather than the 10-year program which had been contemplated. However, Jones told the board he didn't look for a downturn in the long interest rates before the first of next year too late to satisfy the legal requirements In the $6.8 million Issue approved by local voters in December 1973.

The bonds will supplement levies and funds on hand to construct a new Central High School. The total project, including site development and constructing and equipping the building, is estimated at $9.9 million. It would be constructed west of Eighth Street and north of Chicago. The board accepted the bid of Northern Trust Chicago, with an average interest rate of 6.3399 per cent, within the 6.5 per cent maximum average rate approved by voters in 1973. Local members of the Northern Trust account include Dain, Kalman Quail, Piper Jaffray Hopwood, and First National Bank of the Black Hills.

The board also received bids from John'Nuveen and Chicago (average interest rate of 6.35 per cent) and the Harris Trust and Savings Bank, Chicago, (average interest rate of 6.34 percent). Two previous attempts at public sale had failed and only a single bid out-side the maximum rate had been received until Tuesday when three accounts bid. The Northern Trust bid was for 5.90 per cent interest on those bonds maturing between July 1, 1977 and July 1, 1983. The interest on the S5.6 million maturing July 1, 1984, was bid at 6.40 per cent. Northern Trust agreed to pay the par value (16.8 million) plus accrued interest plus a premium of $4,522, for a total interest cost to the district of the best of the three bid packages received.

Because the issue will mature in 10 in 1984, the board will be faced in the Interim period with refunding the issue. This can be done anytime after 1 year of sale of the bonds. Jones, who represents Allison Williams, Minneapolis Investment bankers, told the board the bonds are non-callable and will therefore have to run out to their stipulated maturity dates. He said that in the event of advance refunding, the board would probably invest the bonds In such a manner as to meet the principal and interest commitments as they come due. Jones said there are two possible savings inherent in the refunding and a potential for "substantial savings." The first would occur if in refunding the board realized a reduction in the coupon (the interest rate) and the second would come on the reinvestment side.

It would derive from the rate differential between the municipal bond (which the board would sell) and the taxable security (in which the funds would be invested). He reminded the board the district, of late, has had some investments "in 9 per cent paper." Board members were told they could "pick their market" for refunding. No election is required, Jones said, since statute holds that this process is not creating new debt. He said that public sale is not required, and that negotiated sale might allow the board immediate access to prime market conditions. Jones assured the board that court cases have held that bond and redemption funds offset existing debt and thus refunding would not affect the district's total indebtedness picture.

Jones said exact levies had not been worked out as of Tuesday morning, but he anticipated the first nine years to follow along the schedule projected for the optimum 20-year issue. He added -that with refunding, the board might finally arrive at a schedule which is the same as that projected in the bond election campaign. He said the district would have to make a request of the county auditor for 105 per cent of its, actual requirements to "allow for non-payment of taxes." At the conclusion of the meeting, board members voted to retain Jones as a fiscal agent in the interim between conclusion of this bond sale and refunding. There was a provision that the Allison-Williams' fee schedule be Barnett family to participate in Bike-A-Thon City, Lead TV years, with the 15.6 million falling due- DISCOUNT CENTERS 909 I. St.

Patrick 3333 W. Chicago Telephone Cooperatives Stort Hour Weekdays 9.9) Sunday 1 1 -a Prim affective thru Sept. 29 hearing postponed IPMJB Standard Resistor acceptable by the board. anniversary Presently, there are eight loan requests in South Dakota, he said, totalling $6,526,000. Riley addressed the convention Wednesday noon along with J.E.

Hulse, vice president and chief executive officer of Northwestern Bell. Also on the Wednesday agenda were Ken Hardman, deputy assistant general counsel for the National Association of Regulatory Utility Commis-" sioners; and Bill Corman, general manager, Southland Telephone Co. Thursday will include the association's business meeting, chaired by Pres. B. Maynard Christenson, Volin.

Also on the agenda are Ben Kaiser, director of insurance from the National Telephone Cooperative Association. nr Regular 99c c79c By ANDY MONTGOMERY Journal Washington Bureau WASHINGTON Preliminary hearing on the issuance of a permanent license to operate Channel 7 television in Rapid City and satellite station Channel 5 in Lead has been postponed to 10 a.m. Nov. 11. The hearing was to have been Wednesday morning but was moved to Nov.

11 on the request of both parties involved, Western Television of Sturgis and Sioux Falls and Dakota Broadcasting of Rapid City. Western was granted a broadcast license July 10 for the interim operation of KRSD-TV, but the grant carried the stipulation that Dakota may join Western for mutual operation of the station. When the new station operation is ready, KRSD and KDSJ, which have been operating since July 1970 without could Regular 99c Mayor Don Barnett (right) will be out of town this weekend and unable to participate in Sunday's Bike-A-Thon to raise money for the American Cancer Society. However, the Barnett. family will be represented in the event by Mrs.

Barnett and their daughter Debbie, 10 who are getting checked out on their bikes by the mayor and Myron Hofer, a member 6f the Black Hills Association of Life Underwriters, who are helping organize the Bike-A-Thon. Riders will start the 13-mile course at 1 p.m. Sunday at Baken Park Shopping Center. They will have solicited pledges for money on the basis of miles covered. (Journal photo) license a license, will be required to leave the air.

According to Federal Communications Commission (FCC) officials, the hearing was postponed because of the August death of one of the principal Western stockholders, Morton Henkin, chairman of the board of directors. The FCC said that as a result of Henkin's death, Western had been advised Sept. 13 by the National Bank of South Dakota that its $650,000 loan to operate the station had to be negotiated. Dakota Broadcasting has, in turn, asked for a full accounting of Western's financial status, including the employment records and current employment of all officers, shareholders and members of the board and how much each has pledged to guarantee the loan, the FCC said. Central High assembly meets queen candidates Students at Central High School met the R-Day Queen candidates during a Spirit Assembly Tuesday.

The coronation is scheduled Thursday at 7:30 p.m. in the third floor gymnasium. Candidates for Rapid City Central High School homecoming queen are Susan Carlin, daughter of Mr. and Mrs. Harold Carlin, 306 Indiana; Lana Lar-sen, daughter of Mr.

and Mrs. Willard Larsen, 723 N. Maple, and Marti Jo Scott, daughter of Mrs. Dixie Chenevert, 1211 Mount Rushmore Road, and Robert A. Scott, Rapid City.

Kim McKinnon, daughter of Mr. and Mrs. Tom McKinnon, Keystone Route, is sophomore page. Mary Lee Undlin, daughter of Mr. and Mrs.

Charles Undlin, 1805 West is Junior page. An R-Day Parade is scheduled through downtown Rapid City beginning at 1:30 p.m. Friday. The annual R-Day football game, putting the Central Cobblers against the Sioux Falls Washington Warriors is scheduled at 7:30 p.m. Friday at O'Harra Field on the South Dakota School of Mines and Technology campus.

Climaxing activities will be a Saturday dance in the third floor gym from 8:30 p.m. until midnight with music by the Stary Band. In the service John A. Ball Marine Pvt. John A Ball, son of Mr.

and Mrs. James W. Ball of 901 North Seventh Rapid City, graduated from recruit training at the Marine Corps Recruit Depot, San Diego. Regular 66c Limit-8 Regular 66c 10-30 Multi-Weight LIMIT 6 MdDTOIHL ML 20W or 30W Quarts) Drivers' strike affect Safeways in city to celebrate The South Dakota Association of Telephone Cooperatives, having its annual convention at Gill's Sun Inn Wednesday and Thursday, is celebrating its 25th anniversary. Telephone cooperatives were founded to provide rural telephone service on the same basis as rural electrical cooperatives.

The rural consumers actually own their own system and determine what they want in the way of service. According to William Riley, north central area REA director, when the rural telephone loan program was authorized in 1949, 55.5 per cent of the farms in South Dakota had telephones many obsolete. Today, Riley said, 88 per cent of the state's 46,500 farms have telephones, many with dial service. Loans have been approved 'for 16 borrowers, Riley said, including two commercial companies (one at Hot Springs) and 14 cooperative associations. They have 103 exchanges with 90 as one-party exchanges, he said.

"Stevens band Me 2 weekend stops Stevens High School Raider Marching Band members will make appearances in Wyoming and Colorado tW.3 weekend. The Raider band will appear at the Stevens-Cheyenne Central football game In Cheyenne Friday evening. On Saturday the band members will take part in Colorado State University Band Day festivities in Fort Collins. More than 5,000 students representing 62 bands from throughout a jfive-state area are expected to compete in the band festival at Fort Collins. The Raiders will appear in field show and parade marching competition in the morning and be guests of the un- IJversity at an afternoon football game.

There are 142 students In this year's marching band. They will leave Rapid City Friday morning on charter buses and return late Saturday. The marching band trips at Stevens are financed primarily by band activities and student fees with some assistance from the transportation fund. Milo Winter and Stewart Chrlstensen are directors. "JFimiEIElBY AY" Sum, September 29 Quarts SDg)C Gibson's Value For FREE Look for our FUCEE price sticker A truckdrivers' strike against three Denver food chains could affect supplies of three Safeway Stores in Rapid City, as well as Safeway stores in Belle Fourche, Deadwood, and Spearfish.

The strike began at midnight Monday against Safeway, King Sooper and Associated Grocers stores. Picketing by truckdrivers is expected to begin Thursday morning, Terry Marvin, manager of Westside Safeway in Rapid City, told the Journal. "If the strike continues over one week we may have problems In obtaining grocery Items and perishables," Marvin said. "We've diverted our distribution center out of Omaha to pick up the slack on grocery items and we're going to try to use all local suppliers on all perishables, such as milk, bread, meat and produce," he said. Safeway pulled its usual ad out of the Journal Wednesday because of the uncertainty concerning availability of some items.

"We still have over 300 specials in the stores but we didn't want to advertise because we're committed to a week to supply the advertised items," Marvin said. Corrections At Rapid 'City Regional Hospital West: Sept. 19 A son to Mr. and Mrs. William Beck of Rapid City, not to Mr.

and Mrs. William Becka as previously reported in the Jpurnal. Members of the retail clerks union in Denver are expected to honor the truckdrivers strike, which will force food chain stores there to operate on a limited basis, according to Marvin. He said he and other Safeway store managers in Rapid City, Herman Thompson at Eastside and Frank Rusanskl at Southside, do not expect any local picketing; however normal store operations would be continued if picketing should occur. County ballot spots leavo incumbents in lower positions Positions on the ballot for Pennington County commissioner were chosen at the county auditor's office Wednesday morning, and the Incumbents didn't fair very well.

On the Democratic side, Lewis Young will be at the top of the list, followed by Incumbents Stewart Steele and C. F. Batchelder. However, Young was recently appointed to fill the unexpired term of Rapid City Alderman Al Wilson. On the Republican side, Delores Ghere, former Rapid City alderman, tops the ballot with Dean Parsons and incumbent Ron Stephenson following.

i If ycu find ens, just tcke the item to cny ctack-cut counter, thsn tcke it kesne FREE! Hundreds cf items have been priced FREE! Vcfessto'30! Over '600 dollcrs cf Msrcksndise in cur stores ks been priced FREE! ALL YOU'VE GOT TO DO IS FIND IT! Children under 16 years of age MUST BE ACCOMPANIED BY PARENT. 1.