Northwest Arkansas Times from Fayetteville, Arkansas on April 25, 1974 · Page 18
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Northwest Arkansas Times from Fayetteville, Arkansas · Page 18

Fayetteville, Arkansas
Issue Date:
Thursday, April 25, 1974
Page 18
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18 · Nortfiwo'it Arkaniat TIMES, Ttiurtday, April 25, 197 · FAV1TTIVILLK. ANKANiM " r ' FHS Speech, Debate Tourney Won By Woodland Students Woodland Junior High Schoo took the sweepstakes award a the annual spring speech am debate tournament held at Fay etteville High School ,)ast Satur day. In competition with Rama t Junior High School Woodlaiu won the sweepstakes by five points. In debate, the Ramay teams of David Pennington and Char les Stutte and Kenny Harriman and Mike Sadnnvitch advancer to semi-finals against Davic Cordes and Allison Level and Nancy Penninglon and , Nancj Hamm of Woodland. . The Ramay team of Pennington ann Stntte took the finals. Also contributing points in Five Indicted NEW ORLEANS. La. (AP) -Five steel companies schemed to allocate among themselves construction contracts worth millions of dollars, a federal indictment charges. The conspiracy, which continued from mid-1969 until at least late 1972. involved the sale of million in steel bars in 1972 alone, Ihe government contends. Named in the indictment, handed down Tuesday in U.S. District Court, were Armco Steel Corp., of Mtddletown, Ohio, one of the nation's largest steel prducers, and four smaller firms. debate were Kay Adams anc Mike Waltman and Dan Scot' and Eric Vaughn for Woodland; Patrick Hollingsworth, Cartel Goode, David Peterson am David Eldrldge, David Dial and Sam Pitts for Ramay. Individual event winners were Becky Segus, first, Elizabeth York, second; and Lee Ann Waite, third, dramatic interpretation. Nancy Hamm, first; Daren Patrick, second nnd Peggy Spiccr, third, humorous interpretation. Allison Level, first; Carl Van 3cyoc, second and Kenny H a r r i m a n , third, radio speaking. Nomia Husscy and Lynn Walker, first; Kathy Caughman md Nancy Guisinger. second. 3ecky Thomas and Debra Villiams, third, dramatic duet. Kim Delille, Dan Scott, first; Daren Patrick and Carl Van Scyoc. second; Jennie Carter, ind Lester Nihlock, third, luiiiorons duet. Elizabeth York, first. Paul Sonslegaard, second and Pat follingsworth, third, standard oratory. Charles Stutle, first; Paul Sonstegaard, second and Lisa Vallis, third, original oratory. Sophia Estes, first; Allison ..evel. second and Kay Adams, hird, poetry interpretation. Charles Stutte, first; David 'ennington. second and David o r d c s , third, impromptu peaking. Larceny, Burglary Charges Lodged Against Youth S P R I N G D A L E -- Kerrj Virgil Cornet, 18, of Shads Grove Trailer Park. was charged Tuesday afternoon will wo counts of grand larceny ant one count of burglary in con neclion w i t h a break-in at Ar kansas Transmission and the Iheft of tires and wheels from VIonty Bell's automobile. Cornel, arrested at his home y Springdale police, is being leld in city jail in lieu of ?5,00( )ond. Police have accused him 3f the weekend burglary of A r k a n s a s Transmission i n vhich one transmission, (wo drills, a torch, two pneumatic vrcnchcs and hoses were taken. Cornet is also charged with he- April 17 IheFt of two tires and two whce's from Bell's car arked al his residence on Hwy. 1 south. Police are searching or another suspect believed to lave been involved in the bur- "lary and thefts. Cars For Cuba BUENOS AIRES. Argentina AP) -- Chrysler's Argentine ubsidiary has signed a con- ract to sell 9,000 vehicles vorth $24.2 million to Cuba -n he first major American com- lercial deal with that country ince 1960. The contract, signed Tuev ay, is part of a series of an- cipaled deals for American ar makers in Argentina. The'.re expected to sell Cuba some 2.000 vehicles over three years or an estimated $130 million to 150 million. With Dividends Cut Con-Ed Problem Symptomatic Of U.S. Industry By JOHN CUNMIPK Business Analyst NEW YORK (AP) - The alls pension of its quarterly dlvi (lend payment ,ly Consolidatec Edison Is more than just nnolh or demoralizing blow to th slock market. The big utility : also a symbol of an cmbattlc( industry. Environmentalists hnve forced delays in plant construe (ton. The increase in cnergj prices caused operating costs U skyrocket. The depressed condi ton of financial markets ,pre vented it from raising cash. Moreover, ils customers, who are equally pressed, have tended to become slow payers, a problem that ninny business men around the pounlry will r e c o g n i z e . Payment delinquencies are on the rise generally. And what is Consolidate!: Edison's solution? Well, there is no over-all solution, ol course, but one t h a t has become rather common among giant cmpanies is to lean on ;ovcrnmcnt for assistance, in he name of the public good, of course. Rummage Sale FARMINGTON -- T h e armington United Methodist Church will hold a rummage sale and a bake sale Saturday rom 8 a.m. until 5 p.m. in he city administration building. J rocecds will go toward the emodeling of the church mild ing. Unlike the Pcrtn Central nnd. Lockheed and some airlines, «1ilch sought aid from the federal government, Consolidated Edison seeks to resolve some nl Its problems by t r a n s f e r r i n g ownership of one or m o r e plants to the state power au Ihorlty. All facets of the utility's problems also can be found in other areas of Amnri cah enterprise --- the cnviron- niental haggling, inflated, costs, inability 1 to raise money, slow -- pay customers, the h i g h cost of borrowing. They are the business challenges of the day, and while businessmen arc always facing and attempting to overcome challenges, many of them would agree that the set they now face makes them wonder if their abilities arc sufficient. Coti Ed. as it is familiarly but not warmly called by customers, had been paying dividends every quarter since 1885. Of late that dividend, of $1.80 a share, represented more than a ) per cent return. Dividend consistency of that -iind is what attracts investors, as' opposed to speculators. 'Con ~ld might have been an unexciting stock but it was safe and ·on coultl depend on it for steady income -- until 1974; DESTROYS SECURITY In breaking that 89-year-old record, Con Ed probably has destroyed that feeling of investor security for years to come, not only for itself but for a lot of other utilities to which t might be compared. Con Ed always could count on raising money too, It seemed, because It was the only electric utility In the biggest city of America, assured of Income nnd growth and therefore of the ability to earn money, pay buck loans. Hut with the prime rule over 10 per cent even Con Ed balked. It could, as an alternative, go Into the equity market by selling stock, but even at a relatively low price of $18, now around $12, there was a question of attracting buyers. Stock markets aren't what they used to be: there are fewer buyers. Senior Recital The University of Arkansas department of music will present Larry Green of North Little Rock in his senior piano recital Saturday at 8 p.m. in the Arts Center Concert Hall. The son of Mrs. Otis Green, he is a student of pianist Carolyn Hickson of the music faculty. Following graduation from the University, Green will continue study next fall at Southern Illinois University at Edwardsville. Tires. Stolen SPRINGDALE -- Betty May, 1007 Parker Aye., told police ;wo tires and rims were stolen 'rom her garage during the winter. She said the tires were storeci in the garage while she used mud and snow tires on ,ier vehicle. Mrs. May noticed :hc tires were missing Tuesday. They are valued at $50. Con Ed Won't Issue Share Dividends NEW YORK CAP) - Consolidated Edison Co, says higher fuel costs coupled with bill-collection problems have furced the unprecedented suspension of a quarterly dividend. Suspension of the 45-ccnl-pcr- sharc dividend, which caught the financial community by surprise, was blamed In part for the sharp drop Tuesday in the stock market. The giant utility attributed the suspension to an urgent need to conserve cash, citing a one-third decline In first-quarter earnings from 1973 to 1974. The company, which serves New York City and neighboring Westchesler County, said the decision broke a chain of 343 uninterrupted payouts to stock holders since 1385. The jolt was heightened by the fact that the common stock of utilities is bought in many cases mainly for is dividend yield. Con Ed -,tock ended the market clay at 12\4, off 6-h. Con Ed listed first-quarter earnings of $29.55 million, or 48 cents a share, compared with $44.21 million, or 80 cents n share in the same period last year, Company spokesmen said cash resources "have been adversely affected by the widen- ng impact of sharply increased fuel costs, increases in accounts receivable from customers and reductions in revenues as a consequence of energy conservation." The Dow Jones average ol 30 industrial stocks closed at 845.98, down 12.59. Oil Companies Cutting Credit I.OS ANG10LES (AP) - W]0i profits booming nnd '"J'P"". short, oil companies nro cutl ms Hit) credit card agreements liiai helped nmko "Go now -- pa/, Inlcrl" the call of Hie road, , The bank-typo credit card l» flatly rejected lit many 6 as pumps ns more motorists nw having to pay cash, And paying for motel rooms, dinner or retital cars with gasoline credit cards Is getting harder. At the sumo time, the oil, companies are slimming dowtt their own accounts. "We're not aggressively goi ing for new credit card customers," said an Atlantic Rlclillela spokesman. Added an Exxon official, "Our requirements are more restrictive .today than they were two years ago." A Shell official said card renewals will no longer be automatic for customers who havq a history of difficulty in paying or who use their cards in ; frequently. As with trading stamps! glassware; and contests, th$ companies say they no longer need to promote travel or accept a half-dozen credit cards' to sell gasoline. "Costs and marketing conditions have changed drastically," said a Shell spokesman in Houston, Tex. "We don't have to work quite as hard at selling gasoline." An estimated J20 billion in. service station business was conducted last year with 110 million credit cards, the American Petroleum Institute says. 1 GROUP OF 1. ROOM SUITES TO SELL AT COST! ODD LOT RECLINERS ROCKERS OCC. CHAIR SAVE NOW ALL FLOOR MODEL CONSOLE STEREOS AT GREAT SAVINGS STORE WIDE MARK DOWNS TAKEN... COME SEE!.. COMEJSAVE!. HURRY NOW! MATTRESS AND BOX SPRINGS · TWIN SIZE ·FULL SIZE ·QUEEN SIZE ·KING SIZE REDUCED! TO OUR OLD AND NEW CUSTOMERS ALIKE... WE ARE NOT GOING OUT OF BUSINESS, WE ARE REDUCING OUR CURRENT STOCK OF FLOOR-SAMPLES AND OLD-MERCHANDISE...THIS Will GIVE US ROOM FOR NEW AND BETTER SELECTIONS OF FINER QUALITY FURNITURE TO BETTER SERVE THE FINE PEOPLE OF... NORTHWEST ARKANSAS. Don Davis, Mgr. BEDROOM SUITES ·OAK ·MAPLE ·PINE SLASHED! 3-PC. SPANISH L. ROOM GROUP ·SOFA ·LOVE SEAT · CHAIR SALE PRICED! 1535 NO. COLLEGE AVE. FAYETTEVILLE, ARK. SHOP EVERY THURSDAY NIGHT TILL 8 LINKWAY HOME FURNISHINGS OF FAMOUS BRANDS One of Fayetfevilie's Finest Furniture Stores. Directly Across From Evelyn Hilts Shopping Center

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