The Charlotte News from Charlotte, North Carolina • 8

4t6seOulwo3soamaNdvoi4o CHARLOTTE Jon 24 1962 1 Like Old' Home Nyeelqi Race Track Stockholders Asked For 'Faith' Money I 11 a' OBSERVATION CAR A Sports Car Stops At A Filling Station OBSI 4- :2 0 1 it 1 Thieves came home to the House of 'Bargains once again last night The 301 Seventh St store was robbed of $3791 in jewelry and a radio police reported Employes said it was at least the sixth break-In In the last year Two of the previous break-ins came In December An employe said that after each break-in the owners repaired the weak spot However the thief has always found another entrance point The time before it was a rear door and last night it was a second-story window Western' District Federal Court under provisions of Chapter 10 of the Federal Bankruptcy Act no statements on their inttntions before the plan of reorganization is drafted and ap proved by the court and the Securities and Exchange ed trustee Robert Robin son "and under no dream stances will (they) be used to pay debts or used in any man ner by the truAre or the speedway" Ry BOB SAUNDERS News State Editor The SEC gave its approval for the "good faith demon stration" earlier this month when Mr Robinson and Jack Hamilton attorney for the committee conferred with the federal agency in Washington By BILL HUGHES News Staff Writer Letters 'Will be mailed to nearly 2300 Charlotte Motor Speedway stockholders in a few days asking them to buy "trustee certificates" in denominations from $100 to $100- 000 in a move to escue the corporation from financial collapse A Goines chairman of a special stockholders committee of the speedway announced the move at a committee meeting last night Mr Goines told The News today that his group was enthusiastic in its response to the move lie said about 20 persons attended and the meeting was not open to public or press PRESUMABLY plan will call for issuance of some type of securities to stockholders with their approval by which the escrow funds can be used to pay all or part of the $900000 in past-due debts owed by the corporation Mr Robinson members of the committee and speedway officials however are making Stockholders who buy certificates will be able to get their money refunded by redeeming certificates at any time he said Mr Robinson is under court instructions to prepare a "plan of reorganization" of the speedway The corporation itself is a ward of Judge Craven's to all AUTHORS in this area PADA Plans A Big Year Creditors were on the verge of forcing sale of the speedway at public auction when the corporation sought refuge in the Chapter 10 proceeding Dwight Cross of Iluntersville has since offered the speedway a $300000 loan if stockholders can match that amount according to a statement by Mr Ilamilton in one of the court hearings on the case development and travel and recreation It was about o'clock yesterday afternoon when I pulled into a filling station for some gas on Derita Road near Interstate 85 Shortly after I arrived a really beautiful Aston Martin sports car with a New York tag breezed up An Aston Martin is not one of those sports cars you can pick up down at the corner used car lot for $3040 That might meet the down payment The driver a man stepped out and asked for directions to dovi Mown Charlotte Seems he made a wrong turn off I-85 Then his passenger stepped out a doll ss ith Las Vegas written all over her if you know what I mean She was carrying one of those Mexican hairless dogs Both the man and the woman were dressed to the teeth in blazing sports attire And both were viewing the Mecklenburg County surroundings with a mixture of condescention and amusement Finally they departed in a burst of worldliness leaving Iwo spectators almost speechless but not quite "Gee" whizzed a teenage boy "I've never seen anything like that before The other spectator an oldtimer wearing overalls and shoes slit for bunion space had viewed the scene while sitting on an upended Coke crate "That" he observed "is the strangest sight I ever seen sober!" A representative of a well-known New York book publishing house will soon be in Charlotte to interview writers His purpose is to uncover book-length manuscripts for publication Fiction nonfiction poetry specialized and controversial subjects will be considered If you have a book-length manuscript ready for publication (or are still working on it) and would like to discuss it with this executive in person or by mail please write to: Piedmont Area Development Association directors will meet in Charlotte Feb 1 to plan 1962 as a great year in all phases of area development President Clyde Stutts of Shelby has called the meeting for 6 in Charlottetown Mall Be wants directors from each of PADA's 16 counties in North and South Carolina to assist in formulating basic policies and procedures "This is an extremely important meeting One which vte anticipate will kick off a remarkable year of progress for all of the piedmont" Mr Stutts said "We're going to watch our program particularly the community development phase spread rapidly to make a better life for everyone" HE SAID the 14 members of the committee have pledged to buy more than $150000 in the cetrtificates and that the group expects the stockholders to raise a minimum of $300000 He termed the certificates a "good faith demonstration of the capability of the stockholders to purchase any securities which might be offered under any plan of reorganization" Don't Neglect Slipping TEETH Do false teeth drop slip or wobble I when you talk eat laugh or sneeze? Don't be snnoyed and embarrassed by such handicaps FASTEETH an alkali ne (non-acid' powder to Burin- 1 kle on your plates keeps false teeth more firmly setGives confident feel- 1 ing of security and added comfort No gummy Roney pasty taste or feel log Get FASTEETH today at drug counters everywhere Editorial Director Box 2119 New York 1 Only one species of armadillo is found in the United States It is the nine-banded amadillo' about the size of a house cat Reports will be heard from committee chairmen of community development agricultural development Industrial Mr Goines said the funds will be placed in escrow by the speedways court-appoint I i Are Discussing Parking Meters OVERHEARD DURING a coffee break FIRST MAN: You have to learn to live with those parking meters Put your nickles in and you can sit there 1i1 the cows come home And they're supposed to regulate traffic SECOND MAN: That's right but its not the money it's the principle of the thing hugh? But with parking meters ey ey" STATEMENT OF CONDITION December 81 1961 1 Resources A Little Mystery For You ONE OE LIFE'S little mysteries occurred here the other dly when a letter as deli ered to The News It came from the Pilgrimage Garden Club in Natchez Miss announcing a flower 5 hnw in case you want to rush right (town there The mystery? The letter was addressed: $162694531 93147718 11761127 25843810 Editor TintesNews 126 Church St Charlotte 1 New York $293447486 1200000 273389353 9221925 1910061 Cash and Due From Banks US Government Obligations US Government Agency Obligations State County Municipal Obligations Federal Reserve Bank Stock Loans and Discounts Banking Houses etc Letters Of Credit and Acceptances Accrued Income Receivable and Other Resources Total Resources Bee Knows An Unhappy Fellow EE BEE SAYS: I know a fellow who goes with A beautiful blonde whose measurements Arp Why's hp unhappy? He says the 10 is her IQ 2501787 $581670312 included in above etagrunt Assets and Liabilities of Trust Department are not Bache And Co Moves Expert Evaluates Nation's Economy Liabilities $512772985 5804218 2683810 1910061 15073517 By ROGER IIONKANEN long ago and I think it will he Newt Staff Writer clond thincr fro th twnrkri a good thing for the market" Deposits Reserve For Unearned Income Reserve For Taxes and Expenses Letters Of Credit and Acceptances Other Liabilities Capital Accounts: Capital Stock 10469500 Surplus 29530500 Undivided Profits 3425721 Total Liabilities 7 Will it have an effect on the market? 'It scared some stock buyers I think But on the whole it won't have any effect on the strong companies They will withstand it because they are sound The only ones that may he hurt by the inquiry are those involved in any scandal that tnay turn up' NORTH CAROLINA NATIONAL BANK 43425721 $581670312 A partner in the country's second bi7gest investment company had these observations to make today on the economy It's still too early to tell Vi hat ei feet the Common Market will have on the economy The Securities Exchane Commission inquiry into the American St ck Exchano "should have been done long 2g0: People aren't speculating on stocks as they used to John Huhn general partner in Bache and Co was here today to join with three other partners in the firm in ceremonies to officially open firms new expanded offices in the 201 Tryon Bldg Ile also spoke at a City Cluh I uncheon today for financial and industlial leaders of the area MEMBER Federal Reserve System Federal Deposit Insurance Corporation SPECULATION ON stocks is a different thing today from what it was in 1929 he said "Today people are paying cash for their stocks There is still a lot Of margin buying but that is mostly in the solid issues" he said General Officers Board of Directors Vanstory Jr Chairman of the Board William Barnhardt President Southern Webbing Mills Ire Greensboro Addison Reese President "When they speculate on a stock they pay cash" he said Margin buying highly popular just before the crash in 1929 is huying a stock with a small dmtn payment with the agree menl I ha the rest will be made up when the stock is sold Patrick Calhoun Executive Vice President 13sitlIE AND CD is second in 17e Only to IttP firm of Merrill Lynch Pict I Fenner and Smith Mr Huhn said I spent the '-ifternoon a few days ago kith one of Inc brightest ywing mon on the street I Wall St and he told me that no One can tell what effect the Common 'Nlarket is going to on our economy It is still too early I() tell SEC IN estigation of Julian Clark Executive Vice President Thomas Belk Vice Preeident Belk Stores Service Inc Charlotte Benton Jr Executive Vice President and Treasurer McLean Trucking Compeer Wineton-Salem NC A Lloyd Goode Builder Hobson Senior Vice President Loughlin Kenneth Lough2in Company Caldwell McDonald MeD a id Realty Company O'Herron VA Vice President and Treasurer Eekerd Druge no Boss Puette President Carolina Paper Board Corporation George Snyder President Charlotte Coca-Cola Bottling Co I Stewart Honorary Charms of the Board Philip Van Every Chairman of tho Board Lance Inc Herbert Wayne Vito ProoidonS Thomas Storrs Executive Vice President Thus a Ma 11 with a relatively stake cottld (An large blocks of stock for a short time then sell them later in a high I arket and make a large profit for his onestment Today laws require 70 per cent paNment for buying on tile margin Lineberger Treasurer Acme Spinning Company Belmont Spencer Love Chairman and Preolidert Burlington Industrics Inc Greensboro NC James Peden President and Trettsurer Peden Steel Company Ra leigh Addison Reese President North Carolina National Bank Charlotte Philip Robbinn Vire President General Manager Ellis Stone Company J)urham Julian Robertson President Erlanger Mills Corporation Salisbury A Upchurch Vire President and Treasurer Durham Life Insurance Company Raleigh NC Vanstory Jr Chairman of the Board North Carolina National Bank Greensboro Herbert Wayne Executive Vice President Americin country ihhn h11-1 had les on I he cwk FY( hingrp he speond this If) ty 'ond 7')1r say Orton A Boren Prow lent and Trcrwirer Fore Clay Praducts Company GreensbornV Clark Jr President Clark Industries Inc Tarboro NC Frank Dowd President and Treasurer Charlotte Pipe Foundry Company Charlotte John Erwin President Allison-Erwin Company Inc Charlotte James Harris PresidentJamee Harris cf Company Charlotte John Hatfield General Manager Sears Roebuck Co Mail Oreirr Plant Grernshoro NC David Johnston President Johnston Mills Ci)mpany Charlotte Kincey Presider tNorth Carolina Theatres Inc Charlotte NC Huger King President The Riehardeon Corporation Pireetor Richardson-Merrell Inc Greensboro 1 Van Lindley President Lindley Nurseries Ine Vice Chairman Executive Committee Jeff erlOn Standard Life Company Greensboro NC Ifiher partners of ih I irm lin came to today's lonchron Acre William lieid Jr and should ha' been done tcr Auch crab er ()like Board Now! Relieve acid attacks caused by STOMACH TENSION 7J0' t3' Frank Sherrill Chairman President WCafeteriat Patrick Calhoun Executive Vice President Campbell Senior Vice President Julian Clark Executive Vice President olm Durham Insurance Tablet discovery checks attacks in seconds then works like a warm glass of milk to keep acid stomach soothed for hours Boren III President Pomona Terra Cotta Company Greensboro Bryan Chairman of the Board Pilot Life Insurance Company GreensboroNC President Jefferson Standard Broadcasting Co Chariot te NC James Cannon Vice President Secretary and Treasurer Southeastern Factors Corporation Chariot te NC Wilbur Carter Jr Extrutivs Vice Southern Life Insuranto Company Groens borsNC 4 4 Honorary Chairman Of Board I Stewart North Carolina National Bank NY NY iSpecial Medical 8CierICP knomz that today nullions suffer from Stomach Tenston a distress caused by today's hectic pace of living Juice and coffee breakfasts catand-run lunches diet foods Your own doctor can tell you Stomach Tension pours save after ssave of burning acid onto delicate stomach tissues But orclinao antacids merely relieve the nrst ace of acid then leave the stomach leave you open to further attack An antacid was needed that could give prolonged soothing relief the same amazing relief that doctors knew a warm glass of milk gave The answer came when physicians discovered a Glycine compound-a medication that soothed a burning acid stomach even better than a warm glass of milk A medical publication reported that this compound gave faster relief than ordinary antacids and actually worked to soothe the stomach for hours and guard against repeated acid attacks This most effective compound is named Amitone If you suffer Stomach Tension today and ordinary antacida fail to bring the relief you want you need Ami tone Amitone tablets ale available at all drug counters without prescription.