The Charlotte Observer from Charlotte, North Carolina • 44

rP111110111 1 'My Wife Thinks1 I'm Crazy Too 41 71-ire 51tretoOd Jspodody-Pot Sugar Daddy By ROLFE NEILL Observer Staff Writer James McIlvaine is a sugar daddy come South to look after his sugar He and a business friend have sweetened Charlotte Motor Speedway with a short term loan of over $300000 On top of that McIlvaine owns $29000 worth of "and I plan to buy more" When the speedway project seemed to falter this spring he deliberately invested deeper into the specula tion "because I think it's going to go over in a big way" tqlk r9tm05for'Vri 7 kN 74 7 ii r- 7 i :4 41111 "lithky' 4smiettsdbi 4 1 4: 4 1410::: 'Iii 1 A'41 rW Ltr-- 0---- sii 4 I sgwe r4 14 'f: 0 :::4 'iprAw ii4 3-'' 4: t' I It 'i z1c 5 :4 r' tr 0 1 '-'t 2 ak '''''i'''''''': 74 I Illphte" 'ial 'r I lf)-i'''': r': ak: 1 4' 40:::: 41 :0444: '''i 4:::: OA 7 -041 14 4 itoi r': 0'7'A' etlik: 1 i le -5- 0 4 1 itr rf' 7 i i :4 IT'''''i'l :::1 4 --4" i N' 44 kI' i ''-filt 0 I ''''t 1'N6- f) I 0 1::: :1:: i 40Allgit (1 10iet1'-- li 'i: f': 1a 1 4'7 -4: ofor i I''''' i 1' -7 4 1174tte5: j'i: t' i5 447: "I don't know any other Investment In the United States of a million or two dollars that takes in a million a year" While Curtis Turner president and Bruton Smith manager are the names that fall on the public ear it is McIlvaine who is calling the plays for now Who is he? McIlvaine is a 49-year-old construction man (with a dozen other interests) from Washington He has a saber-like scar running the length of his right cheek the result of a dynamite explosion that cost him an eye lie's enough like "a Marlboro man" to satisfy a Madison -Avenue ad writer record getting those in "Turner's worked his heart out on this He's as humble a fellow as I ever met I like him I want to see the speedway succeed for his sake I could have taken a tax loss on the original 610000 if I had to although I don't invest anything with the idea of taking a loss "Nothing's going to stop us from having a race out here June 19 This is going to be one of the best investments I ever made and I've made some good ones" He organized and is president of a savings and loan association back home has a small business investment company is a director in his bank and owns extensive real estate holdings in the District of Columbia and Vir ginia He and associates are planning a 3000unit apart ment building Mcilvaine came here to mother his investment Since coming he has been caught with a childlike en thuslasm He has aged a 1960 Buick Invicta station wagon several years bouncing it over the 551-acre site Coming back from lunch one day he decided that the speedway should make itself a clover leaf on 29 at the Rocky River bridge to ease traffic congestion He bought the land convinced the Highway Depart ment of the soundness of the venture and the road is being built The speedway pays for it all The Highway Department simply permitted the graveled road to go under its twin bridges across the river The result is that no dangerous left turns will have to be made across traffic-clogged 29 on race day McIlvaine has been home but once in the last five weeks to watch his daughter graduate from high school He recently finished the largest sewer contract ever' let in the nation's capital "I took that one on to see if I could do it It was a real challenge" Currently he has another multi-million dollar proje ect in mind involving fuel lines Millionaire McIlvaine sees a million-dollar a year in come from the speedway He counts on automotive manufacturers' contracts gate receipts concessions a football game (which he's planning for friend Preston Marshall's Washington Redskins) and a few other things Visitors to the speedway will find him somewhere on the job Affable Completely frank And willing to talk 'I don't like to be bumped around" be said last liTek of the dispute involving grading contractor Owen Flowe "I didn't come down here to be bumped around But 'then I don't like to bump people around either" (Flowe's -grading contract was terminated on McIlvaine's advice) McIlvaine took what he calls "a flyer for $10000" on --the speedway He has since become deeply involved in its development In fact for the last five weeks he has been living in a Charlotte motel and watching over the speedway (All his expenses are borne by him) 1E "I came down five weeks ago to take a look Frank: ly I was upset with what I found Everybody was trying to do the job but there wasn't any coordination The man they should have hired first a general superintendent they didn't even have "I called my wife and said 'Honey I'm going to be down here for a while'" Observer JAMES McILVAINE He Took A Flyer On Charlotte Motor Speedway money in intendent Contractors and superintendents on the job all look to McIlvaine for advice "My brother was In here from California the other day to visit me He said to me: 'Jim with all you've got what the hell do you want to take some crazy job like this and put your "My wife thinks I'm crazy too "I don't know A man gets a out of pushing something like this at those concrete stands over there Actually Mei lvaine has become the general super SHE JUST ADDS SEASONING XII 011arlett Vistrurr V-s I I ATTRACT alP THE EYE o) in The Observe ATTRACT THE EYE: in The Observer rd BUSINESS 1 Cook The Chicken For Mom 2D EVERYBODY'S BUSINESS 1 thews "She can bake the chicken fry it broil it charcoal it or barbecue it" The birds which are split down the back can be baked or spread for broiling or barbecuing The ones which are cut up can be fried or cooked in other ways Its dcceptance in other towns gives Matthews confidence that Charlotte is home base for what can become a large new agricultural Indus try er 7 i I' 440k ii I 1 -g' ''coilii: ts' 4 1i: "I i' 11110nonlimow 7 By 4 Y'r l' "ir'4)'-' 44 0 1 4 Ita 1 I -44t -71womalboo' 11000' IN essing tank No salt or other seasoning? "None" says El Ili "That is the wife's job We feel that most processors of foods don't allow the housewife to Identity herself with the food she places on the table "With our Ready to Brown product she seasons and cooks the chicken in the manner she wants to and browns it to the degree she wants When she puts it on the table it's her product She can't identify herself with TV dinners for instance" Ellis first got the Idea for cooking chickens in the monosodium glutemate when he discovered that some of the world's leading chefs used the chemical extensively to enhance food flavors Will housewives pay a premium for the pre-cooking? "The price is little more than they've been paying" said Matthews "In some cases It will be less" Doesn't pre-cooking place You CAN BANK too S0011 WE GROW OLD too LATE WE GROW WISE! Maybe His Cars Were Naliants But Wasn't He A Wee Bit Timid? Manuel Rogers of the ACM! staff here claims it's true: The doctor bought identical white Valiants right down to red leather upholstery for himself and his wife his patients wouldn't think he could afford two cars Don't Wait PLAN YOUR FUTURE WISELY with systematic investments in CHARLES MATTHEWS And Pre-Cooked Fryer usual explained Matthews Others are merely split down the back But all are immediately sealed in plastic bags with water gelatin and monosodium glutemate added They are then cooked slowly (about four hours) in rigidly controlled temperatures in a beat proc I I on certain satisfaction seeing it go Look we may have set a limitations on the way it can be prepared at home? "It can be cooked any way the wife wants it" said Mat Charlottean Has Atomic Project Role A Charlotte born scientist is working on a device that may speed the time when men can control fusion to produce pow tr He is Archie Futch Jr of the Atomic Energy Commission's Lawrence Radiation La boratory at Livermore Calif A graduate of Central High School and the University of North Carolina Futch is the on of Archer Futch Sr of 1522 Park Dr The device called "Alice" has been tested in a version called "little Alice" which shoots neutral hydrogen atoms into a magnetic field shaped like a bottle 1 investor should consider for complete information MUTUAL FUNDS They By CLYDE OSRORNE Observer Stiff Writer Thanks to a patented process Invented by a Charlottean a revolutionary pre-cooked chicken product will be offered to housewives in local stores in about two weeks The man responsible for the process is Gene Ellis Be has formed a partnership with another Charlottean Charles Matthews creating a firm called Food Projects Corporation Processing cooking a packaging the chickens locally is Harold Pierce at Pierce Poultry Company "This cooked chicken tastes just like those mother used to make" says Matthews the president of Food Projects "Our process lifts the flavor doesn't change it just enhances It Were certain we have moved In the right direction" Already he said a franchised California firm is selling 200000 pounds a week after only a few weeks in operation And a Raleigh poultry processor's sales are rooming since he started using the Food Projects process said Matthews What's the process! The birds are slaughtered as Textile Activity Sill Slow NEW YORK t4 Cotton textile activity remained slow last week Scattered sales of print cloths and a few other constructions were reported mostly for spot and second quarter delivery Bidding by converters for print cloths in the sccod half of the year was less Aggressive and prices submitted were As much As i cent A yard un0 der mill ideas Some market observers think there will he no resump tion of broad Interest until after the mill vacations In early July In a few of the wide print cloths prices developed an en ler tone on offerings of resale gouda Only routine ordering of wool goods was noted Prices were firm at the Australian wool Cit Om but this created no bullish sentiment In synthetics mills reported mostly fill-in buying of rayons and blended fabrics Sunday Juno 12 1960 footprints found in Fayetteville Columbia gets a revisit within the last fortnight Unreddy Kilowatt Wachovia Bank and Trust Co has more than $600 million in assets Now Wachovia Senior Vice President Joe Robinson of Charlotte gets a notice from Duke Power Co that his elec Ideal service will be cut off for nonpayment of bill On protest from Robinson Duke checked reported It was a clerical error So sorry Impressions Some recent exciting Budweiser's billboard of the golfer whose blast out of the sandtrap looks real life The dairy's billboard with cats milk on their whiskers and the caption: "Milk experts agree on Sea Hest" 11anes Hosiery's very original New 'Yorker ads are cooked up within the corn pany braintrust in Winston American Commercial Bank has the best bank advertising in the state Unfortunately some of the finest run in ape cialized publications and the Public never sees them Diff0 Hurrah for the Chamber of Commerce plans to get all maior roads zoned Independence Boulevard around the Auditorium Coliseum Is an CXAM plc a shat can happen That area look like a carnival en carnpment now SOME OF THE BETTER KNOWN FUNDS THAT we HANDLE: FIRST UNION NATIONAL SWIMMING POOLS Swim Clubs Coleman sviummlma POO Dial JA 16455 Coleman Pool Co Nicht Phone JA 3-11097 Box 1064 Charlotte OLD PINEVILLE RD Funds Inc City guidance only And dors not GhjectIve OOLS Irviced 4Ar 5 Co 167 Regardless of your investment needs the wise First Union National Bank stock If you want growth income or capital appreciation or all three our recommendation would be First Union Notional AxeHoughton Canada General Fund Inc Dreyfus Fund 4 Group Securities Inc Financial Industrial Fund Keystone Custodian Funds Massachusetts Investors Growth Stock Fund Massachusetts Investors Trust and Automation Fund Inc National Securities Research Series Sterling Investment Fund Television Electronic Fund Townsend A International Fund Wellington Fund Wont proof? OK here goes: Growth First Union National has merged with six smaller banks in recent years boosting deposits and resources to on alltime high Income present indicated dividend is $140 per share Appreciation a $4000 investment in 1948 for example would hove more than doubled since that time having a present market value of $9000 Our experienced representatives can help you dp ride on a choice in line with your needs based on sound investment principles To receive our brochure on this important subject just fill out and mail the coupon below Beats Geritot One of the biggest bargains in the Carolinas is this sum: mer's Broadway productions in Ovens Auditorium Top ticket prices are $225 For the tired businessman or the happy one here's an investment with no better return Whether venture succeeds depends how well the surrounding com munities respond Hither loll HEARD ON THE Tryon Street will be the scene of another motel a 100-roomer In he announced as anon 83 the remainder of the million dol is raised Gulf Oil nearly chose Raleigh for its building coming here American Commercial's name won't disappear when it merges with of Greensboro to he come North Carolina National A-C's insurance department will divorced and called American Commercial Agency Inc Chad Bolles Chadhourn-Goth am and It others are being sued by two Davenport Hosiery stockholders who claim the SEC rules were violated when the Tennessee firm as acquired by Bolles The plaintiffs want $23 mil Inn restore: to Davenport ad $122650 for themselves Douglas Aircraft in Coll fornia was ordered to arhl' trate Its pay cut for OR PO tineers there it ha were re dared I per ern( (along with (harlotteans) Flowaters is breaking records AsIth production at Its York 'County plant exceeding capacity In recent 'months The rumor that the AFL-CIO plans to recruit North Carolina college grad Ablirli this month to train them as replaccmcnk for Northern working this arca just Salisbury Trailer and its big projected plant Are At a enlid Tennycee Eastm a Monthly Sum Programs Available 2000 MINIMUM ON MONTHLY PLANS Registered It wos announced this week that First Union Notionol's Board of Di rectors would recommend a 100('(1) stock dividend (and on increose in the cash dividend from $120 to $140) If the stockholders approve the oction 10 shores of common stock 12 years ago would now total 500 shores! We maintain a market in First Union National Bank stock The cur rent price is approximotely $3850 per share providing on indicated yield of 363 SPECIALIZING IN Mutunt FUNDS EXCLUSIVELY Bruce Hull Exec Vice President 511 CHARLOTTETOWN MALL ED 33784 CHARLOTTE Contact one of our registered representatives on this or any investment security Gentlemen: riratie send me without ohligadon progrectus on a Mutual Fund designed to emrhasi7e (within the limit on market risk) the following objectives: Current Income Possible Long Term Growth Conservative Balance with Moderate Income Si DICKSON 84 COMPANY INCONPOIATIO Ton SALE WELL ESTABLISHED DRY CLEANING BUSINESS All Modern Equipment and Fixtures Attractive building with plenty of parking space Cone veniently located on a busy business street Owner dee sires to try another field Tor further Information write Charlotte Observer tot W-68 CIorlotte 'Amboy PA lrhpost Stook CHARLOTTE NEW YORK ATLANTA C44 KAk10 LK vets toLomBIA sottNson11 IMAM ACkrONVILLi OMSK 1110404004 rt Name Address Note: Information is for our aosurne chiesement of rya ittatow- i 4 41 I xrrgrarAtur TennerrraKf -p Tr WFVVI7 "Nrgorr -pp 72777n277MnV310 rleM0FAI.