The Oil City Derrick from Oil City, Pennsylvania • Page 18

18- THE DERRICK Oil City.Franklin'-ClarioB, Pa. Friday, February ,23, 1968 Extended Forecast Flvt'day forecast (or Saturday, Frb, 24, through'Wed, Feb. 28: Western Pennsylvania -Temperatures will average below normal, with daily bigh readings generally in the 34s ind nighttime tows in the 20s, It will be a little warmer ky early next week, wilh little day-to-day change the remainder of (he period. Precipitation will total about one-fifth of an inch north to one-half an inch melted south, occurring as snow over the weekend south and snow -Hurries toward the end of (he period north. QUALITY FOODS Keystone Chip STEAKS 73c Cracked Black PEPPER I r79c Fresh Home Baked Goods Mixed Wild Bird Seed Sunflower Seed Penna.

Dutch Candies Nuts Fancy Apricots Pitted Prunes Ready to Bake HAM LOAF lb. 79c Home Made SAUSAGE 79c Standing Kib Roast 95c lb. Lean Ground Beef 73e lb Beef Fillets, Veal Cutlets! Old Fashioned a Chicken a Frying Chickens. PROMOTED --George Hoffman of 139 Cherry Run Rouseville (center), is congratulated by Louis F. Provino of Youngstown, Ohio, for his promotion to sales supervisor of the Ward Baking Franklin.

Looking on is Gilbert W. manager of the Franklin plant. Hoffman Ackinclose, who will retire in the near future. He joined the company in as an employe of the shipping department. He later served as a route salesman on Oil City's South.

Side. Hoffman and his wife, Joyce Ann, are the parents of two children, Gregory Alan, 9, and Vicki Lynn, 5. His parents are Mr. and Mrs. George Hoffman also of Rouseville, Two area residents have been recognized for helping their service organizations earn the J.

Air Force Outstanding Unit Award. They are Staff Sgt. Thomas I. Mohnkern, son of Mr. and rtrs, Richard Mohnkern of Tionesta Route 3, and Airman James J.

Bajorek, son it Mr. and Mrs. Peicr Bajorek if 334 Grant Franklin. Mohnkern, a jet engine mechanic in a detachment of Ihe Atlantic Aerospace Rescue and Recovery Center of the Military Airlift Command at a support unit in Cigli, Turkey, will wear distinctive service ribbon as a permanent decoralion. His unit was cited for main- aining a sustained search and rescue commitment with a per- 'ect flying safely record.

The center's area of respons- ibility encompasses four con- Clarion Area High School, the 2 Vietnam Veterans Join VFW Two soldiers who saw action in'Vietnam became members oi Francis Pritchard, Post 464 of the VFW last evening in the post homL The post appointed past commander Raymond Finnefrock as chairman of the Proposed Package for Vietnam Soldiers Program. Co-chairman is Pau E. Winger. Area residents haying sons or relatives in.Vietnam are askec to mail their addresses to Pnsl 464, VFW, 2.Relief no later than June 1. Packages; will for shipment by.

June 15. More in formation will be released at a later.date. After the meeting light freshmerils were served. Remarkable VALUE! RCA VICTOR Super-Bright Color TV ultra-compact cabinet Thrill to the Breathtaking beauty of New Color TV with this space-saving consolette. Super Bright RCA Hi-Lite Color Tube with Perma-Chrome.

Powerful chassis. New Vista VHP, Solid State UHF tuners. Automatic Color Purifier. Come in for a demonstration, When you're first in Color TV. there's got to be a reason 499 95 THE MOST TRUSTED NAME IN ELECTRONICS SEE US FOR NEW LOWER PSICES ON All SMAU TABLE APPLIANCES FREE GIFT WRAPPING, FOR AU OCCASIONS' Oil City's Leading Appliance Television Store Since, 1928 40 Years Serving You, Our Good Customers We Service Only What We Sell 1 Shop New Prkej Were Uwtr GPU Considering Change lit Its Dividend Policy General.Public.

Utilities. Corporation, a New York holding company which owns Pennsylvania Eiectric Company and Jiree other electric utilities op- irating in New Jersey and Pennsylvania, announced that the ward'of directors is considering a possible change in dividend policy. If the change would involve the distribution of one cash dividend each year and the distribution of stock dividends during the balance of the year. William G. Kuhns, GPU President, stressed that no.

decision has yet been niade by the board, that, the GPU stockholders would be advised promptly when such a decision is made, and that, if the policy; change is adopted, arrangements will be made to enable any stockholder to sell readily and at minimum cost the shares periodically distributed as stock dividends. The GPU system has assets excess of one' and one-half billion dollars ($1.5 billion) and annual revenues in excess if three hundred million del- ars ($300 million). Its expenditure for new facili- ies during the three years are expected to exceed six hundred fifty million dollars S650 million). In noting these 'acts, Mr. Kuhns stated that JPU's subsidiaries require very substantial amounts of additional equity capital and that GI'U mist obtain part of such capital the periodic issuance of additional shares.

He stated that, in the last Ohio River Ferry Service Starts Friday CHARLESTON, W.Va. (AP)Ferry service across the Ohio River at Point Pleasant i start Friday, the state road commission announced Thursday. Since the Silver Bridge collapsed Dec. 15, killing at least 46 people, the only means of crossing the Ohio River at Point Pleasant was a "shuttle run' provided by the Perm Central Railroad. The railroad announced it will discontinue the commuter service as soon as ferry service be gins.

Smokers Warned As Propane Gas Leaks From Truck HARRISON CITY, Pa. (AP) Residents of this small Westmoreland County farm community were warned Thursday not to smoke or light any matches for several hours. The reason: explosive propane gas leakin; from a rupturedt ank truck. Several pieces of fire anc rescue equipment stood by unti the danger passed after workers managed to drain the 2,000 gal Ions of gas from the truck into other trucks brought to the scene. The truck, owned by the Pro- lane Gas Co.

of Grecnsburg, was parked when its brakes gave way and plunged over a 50-foot embankment, splitting the tank. The driver, Anthony Chencsky was not in the truck. There wen no injuries. FRIGIDAIRE SERVICE? VARIETY STORE OUR SERVICEMEN Factory-trained "Fast CALL 649-1209 eight offerings niade by GPU, on the average more than half of the shares had been purchased by stockholders. He stated hat the periodic sale of addi- ional shares is an expensive vay, to raise the funds needed GPU and particularly so vhen such funds largely come "rom the same stockholders who the cash dividends.

In discussing why it was bc- ievedthat such a stock dividend program would be in the interest of virtually all GPU stockholders, Kuhns stated: "There is considerable income ax disadvantage 'to a stockholder who receives cash dividends and then buys additional shares upon the exercise of subscription rights, i.e.,- he pays ordinary income tax on the cash dividends receives and he purchases the additional shares svith after-tax dollars. "By contrast, we are advisee that if he were to receive shares as a dividend under the program under consideration, the receipt of such shares would not result in any current income tax liability to him; moreover, if he should sell his dividend shares (whether immediately when issued or at some subsequent date), we are advised that, under present tax laws, the proceeds of such sale would be taxable on a capital gain basis, rather than as ordinary income and if he had acquired the shares on which the stock divi dend was distributed more than six months before the sale, any capital gain realized would be long-term i and taxable at the lesser of one-half of Ihe rate applicable to ordinary income or 25 per cent of the gain." In discussing the means which might be used to carry but such a policy change, if it is adopted Kuhns stated that it was antici pated that each stockholder would be furnished with a care which would enable him to di rect a bank to sell his divideTM shares, if he wished, and to re mil the net proceeds to him. He pointed out that, assuming no substantial market fluctua lions, the GPU stockholders electing to sell his divident shares would receive cash in approximately the same amoun that he would otherwise have received as cash dividends. In addition, and based on the tax advice GPU has received, selling stockholder would have the benefits of capital gains ta: treatment. Servicemen In Tlie News 2 Young Area Men Recognized For Helping Earn Unit Awards DONALD MATTHEWS The sergeant, a 1961 graduate of West Forest High School, Ti- oricsta, attended New York University- and the University of Maryland, European Division.

His wife, Marie.is the daugh- er of. Mr. and Mrs. Michael F. Zinna of Port Jefferson, N.Y.

Bajorek supported his combat- seasoned Strategic Air Corn- inand organization at Glasgow Air Force Base, in earning (he award. He is a member of the 91st Bomb Wing that has the dis- inclion of winning the award for twp consecutive years. His organization was specifically cited for its achievement flying long-range B-52 Slralo- 'orlresses on almost daily 'conventional i missions against the Viet Cong while pa duty at a Pacific base. Bajorek, a material specialist also wears a service ribbon. The airman is a graduate of Franklin Area-High School.

Donald Mattheivs Serves In Viet Pfc. Donald J. Matthews, son of Mr. and Mrs. Glenn Matthews of 165 S.

4lh Clarion, is serving in 'His last letter to his parents iated he was in Hue. After graduating in 1967 from young man entered the Marines, His address is PFC. D. J. 2395459, Co.

2-5 1st Marine Division, FPO, San Francisco, 96602. William Conaivuy Enlists In Navy William Oliver Conaway, son of Mr. arid Mrs. Oliver C. Conaway ofl2i7 Eagle Franklin, has enlisted ia the U.

S. Navy. The youth enlisted in the 120- day Delay Program and will report May 9 to the Naval-Recruit Training Center at Great Lakes, 111. He is a 1966 graduate of Franklin Area High School Bill Petty mader, Oil City Naval recruiter. William Jackson.

Finishes Course William H. Jackson 21, son of Levi E. Jackson, of Pleasantvillc RD 1, was an honor graduate of a recent 10-week power generation course at the Army Engineer School, Ft. Bel. voir, Va.

The first six weeks of the course is designed to train personnel iri the operation and This Day In History Today is -Friday, Feb. 23, the 54th day of 1968. Today's highlight in history: On this date in 1836, the siege of the Alamo began in San Antonio, Tex. On this date: In 168S, composer George Frederick Handel was born. In 1847, Gen.

Zachary Taylor and his American'troops defeated Gen. Santa Anna at the bat- tie of Buena Vista, Mexico. In 1861, President-elect Abra ham Lincoln arrived secretly in Washington to take office, a federal radio commission. In 1942, during World War II a Japanese submarine shellcc an oil refinery near Santa Barbara, Calif. Ten years ago--Washington officials made dear.that the United States opposed a Polish proposal for a central European zone free of nuclear weapons.

Five years ago--The United Slates was awaiting planation of a jet fighter attack en an unarmed American shrimp boat in the Florida straits. One year ago--President John son formally certified that the 25th Amedment clarifying pres idential succession was a par of the U. S. Constitution. enlisted by Chief Officer Terry M.

Sch- maintenance of hand and power tools, gasoline and diesel engines and various electric generators. The. last four weeks provides a working knowledge the installation, operation and maintenance of portable generating equipment. His wife, Sharon, resides in Alexandria, Va. a Lurry J.

Smith hi Fleet Exercise Seaman Larry J. Smith USN, son of Mr. and Mrs. Edwin Smith of SJiippenville partici pated in 1 Bead Strjnger as a crew member aboard the destroyer USS Floyd B. Parks.

Bead Stringer, a U.S. Firsi Fleet, training exercise was held off the coast of southern California. The exercise included advance training and surface warfare tactics, anti-submarine air and PT boat war operations and shore bombardment. It was highlighted by surface to air missiles fired against aer itu targets, live rocket am bombing attacks against targets in the San CIcmenten and Chocolate Mountain ranges. Stephen Woods Gets Promotion Stephen D.

Woods, son of Mrs Willis M. Nutter of 248 Egber Franklin, has been promoted WILLIAM CONAWAY sergeant in the U. S. Air orce. Woods is a radio repairman McGuire AFB, N.

J. He is member of the Military Airlift "ommand. The sergeant is a 1965 gradu. te of Rocky Grove High School His wife, Clare, Is the daugh. er of Mr.

and Mrs. Leo ehneider, Hainesport, N. ergeanl Woods' father, Harol I. Woods, resides at 139 Gil illan Franklin. Mark A.

Call Finishes Course Pvt. Mark son Viibur L. Call, Tionesta, com 'leted a refrigeration special st course at the Army Engineer School, Fort Belvoir, Va. During the 11-week course, he vas trained in the maintebanci nd repair of mobile and p'erma air con litioning equipment. He also re in ice plan md cold storage warehouse op Assignment Made Army Pvt.

Richard C. Shick 0 son of Mr. and Mrs. Clair Mayport RD2 re lently.was assigned in antryman with the 3rd Infan ry Division in Germany. THE COMPACT STUDY GUIDES THAT PUT YOU ON A SURE COURSE BARNES and NOBIE COLLEGE OUTLINE SERIES Over 100 Titles for Your Selection A A Dictionaries Roget Thesaurus We Have Honey for You! Or any amount you may need to $3500.

Suhjecl to usual credit policy. For Paying Year-End Bills For Consolidating to Lower Paymenfs For Sudden Cash Emergencies For Improvements Loans Over made by Oil Ci(y IndnsJriat Consumer Discount Co. For Fast Service Call 645-1256 "Your Hometown Finance Company" J. W. KREIDLKR, Mgr.

2nd fl 224 SENECA Oil CITY, M. CITY INDUSTRIAL CONSUME! DISCOUNT CO. Bomb Alarm Threatens Bus Station NEW YORK (AP) my bag; there's a-bomb in it hat will go off at 2:30," the Ma-. me Corps corporal said to assenger on a bus Thursday morning at the Port Authority us Terminal. When the Marine Jeft the Cleveland-bound bus the fright- ned passenger notified the river.

He alerted the Port lority police and they called Iri the FBI. Minutes later, when the'corpo- si returned to the bus, he was aken into custody by the police, turned him over to the and he was-arrested on a harge of making a threat to jornb a public carrier in inter- tale service. Port Authority police jjdentl. icd the marine as John Pe. ikia, 21, of 238 45th St.) yri, assigned to recruiting du- ies It could not immediately be earned whether the FBI lourid a bomb in the valise, The corporal had bought a icket for aha noy City, on an Edwards-Td-Lake-Sea bus.

He was' taken to the fetaral louse of detention. Home -Baked Goods, Eggs, Chickens, Fresh Vegetables, Apples, Winter Bouquets. Fresh Pork. FARMER'S MARKET Sat. a.

m. 2 p. 2 State St. m. ATTENTION ORDER NOW BEEF SIDES 57c tb.

FRONTS 49c, HINDS 69c Ib. PROCESSING INCLUDED Home Made Liver Pudding 79c Tasty Scrapple Meaty and Economical Colld Horns lb 39c Big Buy" 3 Home Made Kraut 1 Lb. Wieners 89c Hunt's Solid Pac--303 Cans TOMATOES 4 $1.00 Green and Crispy Jumbo Heads lettuce Kraft Bros. 12 E. First Free Delivery "Look for the White Wagon" Dial 646-9191 South Side--11 a.m.-3:30 p.m.

North Side-- p.m. Smart NO-IRON BY FARAH America's finest Permanent Press "Fara Press" Never' Needs Ironing Super Hopsack Slims $7. 00 Fqrah Dress Thins $8-00 These slacks keep their neat good looks. Popular colors. OIL CITY'S OLDEST AND BEST The Welker tfjxwell Co.

SIDE-o'lL CITY Easy to Stop-Easy to Shop-SiH Green.