Low Resolution Image: Become a member to access this full resolution image at 375% higher quality.

OCR Text

Cedar Rapids Gazette (Newspaper) - August 14, 1974, Cedar Rapids, Iowa 4The Cedar Rapids Gazette: Wed., Aug. 14, 1974 AVVWV ll... \\\\V\\\\%\\W (■wester'* Quids £ By Sam ShulsLy If one may be permitted a bit of hyperbole, it seems fair to observe that Con Edison's omission of a dividend on its common stock yanked utilities investments into a new era as violently as Hiroshima marked the beginning of a new atomic age. When an old-line utility — the very model of a “widow’s and orphan’s stock’’ — which has paid some dividends every year since 1885, finds it necessary to omit a dividend the damage to investor confidence, it seems to me, exceeds even that caused, for example, by an Sam Shulsky Equity Funding scandal. Financial chicanery will always be with us — but old-line utility dividends were supposed to be sacrosanct It is not easy to arrive at an j overall answer to the problem or. much less, to answer completely the question posed by many readers: “What now?” But one part of an answer seems to be widely accepted by the utility experts that I have turned to for help: The “old grey mare” ain’t what she used to be and, what’s more, is not likely to be ever again The utility industry has entered a new era and faces a new set of problems from the investor’s point of view and, most certainly — and concurrently — from the point of view of the utility customer. Cheap power is on the way out and there is no point to look for its return until fuel and money and tax costs are reduced. And that will be — as the kids used to say — “after never.” W\ R van Liew, vicepresident of Fitch Investors, an expert in the utilities field, comments in an article written for the OTC Market Chronicle: “The days of utility service | being a ‘bargain basement item’ are gone. With rising operating costs and rising taxes at the local levels, the cost of utility service, direct as well as indirect (including such portion of higher local taxes as may have to be imposed as the result of the absence of tax revenues from government-owned utility property) is almost certain to continue increasing over the long term “Thus the consumer is entering a relatively new era of utility cost levels, whether he buys his power from investor-owned or government-owned sources. Sooner or later he may be forced to adopt a totally new concept of relating the cost of a utility service not to a price which existed at one time but to the value of the service .    . “How \aluable is it to have light, heat, communications and the necessities and conveniences in the home which are available because of the presence of electric or other forms of energy? Can the consumer adopt a ’willingness’ to pay for a utility service and assign to it a priority in the family budget because of the value of the service9 Actually, the consumer has never been tested fully in this respec t and never will — at least not to the extent that his ‘willingness’ to pay was recently tested during f the gasoline shortage “The consumer s attitude is critical to the industry If the consumer has understanding, an acceptance of higher rates is possible, provided the* service is good Until recently, the treatment of the consumer from the standpoint of taking him into the confidence of the company and or the regulator has left something to be desired Mr. van Liew feels that ae-tion must be taken to create understanding and acceptance of utility problem* by the consumer. now that rates are rising and will continue to rise “In the ultimate.” savs Mr van Liew. “the financial viability of the industry is derived from the pocketbook of the consumer In tomorrow s column I will present some views of other I Savings on    Clearance, Preseason and School Items — Shag    9:30    'til    9 Little Boys' Jeans Cotton Quilted Long Robes Girls' Bold Plaid Pant Coat regularly $22.00 * 19 Here is a good back-to-school robe Long cotton quilt robe with floral print border predominately blue or red Warm, easy to care for fabric Sizes 10-18, ARMSTRONG LINGERIE—SECOND FLOOR Girls’ acrylic pant coat, pile lined, polyester fur trim on cuffs and hood. Colorful red/brown plaid The perfect coat for school. Sizes 7-14 ARMSTRONG GIRLS* STORE THIRD FLOOR Selected Group of Girls’ Sportswear values from 1.25 lo 12.00 I aa a lo a Save fa on girls* jeans, slacks, knit tops, skirts and sweaters. Outstanding values for school. Assorted styles and colors. Sizes 4-14; preteen 6-14 ARMSTRONG GIRLS STORE—THIRD FLOOR Famous Name Bras aa rig. .).r>o 2 ut Jill on the in men? standing of the lnduMr amen i bove - label bras in two favorite styles Style No. 322 I ha- adjustable stretch straps, camisole feature, stretch sides Style No 272 (below) has rigid Lycra stretch sides and comfortable stretch at rib i-.’f * White or nude sizes 32 36A, 32-38 BIL < . armstrong foundations SECOND FLOOR -7 D V. us meta t mum * Famous Name Fashion Shoes reg. $22.00 3 DAYS ONLY! Save on this terrific back-to-school shoe. Popular styles with crepe soles and wedgies. Good looking with either plants or skirt Sizes for most women in fall tones ARMSTRONG WOMEN S SHOES STREET FLOOR 3»4 lo I” Polyester/cotton blend is completely machine washable. Assorted solid colors and plaids. Sizes 4-7 regular and slim Little Boys' Knit Shirts 2 in lo IV Long sleeve polyester/cotton knit shirts Turtleneck, collar models, layered looks in assorted solid colors and patte-ns. Washable Sizes 4-7 Little Boys' Underwear a roil Boys’ Short Sleeve School Shirts save more than V2 at . . . 2 70    2    FOK :>.oo 20 Boys’ cotton knit T-shirts and briefs. Good quality long wearing, comfortable White. Sizes 4-6-8. ARMSTRONG CHILDREN S STORE THIRD FLOOR Woven polyester/cotton blend fabrics in many new solid colors and patterns Especially suited for school, alone or under sweaters. Boys’ sizes 8 to 20. ARMSTRONG BOYS' STORE—THIRD FLOOR Students’ Sportswear V2 / A rn irr; Timely savings on sweaters, short sleeve shirts, and knit shirts. A variety of solid colors and patterns. Outstanding \alues. Sizes S.M.L. Shop early for best selection’ ARMSTRONG HI SHOP—THIRD FLOOR Fantastic Clearance of Men’s Better Slimmer (Min!) ! PRICE • SUITS • SLACKS • SPORT COATS Includes most of our summer clothing! ARMSTRONG MEN S CLOTHING—THIRD FLOOR ;

Clippings and Obituaries for the Cedar Rapids Gazette