High Point Enterprise Newspaper Archives Dec 4 1973, Page 6

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High Point Enterprise (Newspaper) - December 4, 1973, High Point, North Carolina 6a High Point Enterprise tuesday december 4,1973 state retirement system $ a billion operation by Noel Yancey associated press writer Raleigh apr North Carolina s teachers and state employees retirement system is now a $1.4 billion operation. That a the amount the system has invested mostly in corporate Bonds to finance retirement benefits for about 210.000 members including about 23.500 who have already retired. With teachers and state employees paying 5 or 6 per cent of their salaries and the state contributing 8.95 per cent of salaries subject to retirement the fund is growing at the rate of $170 million a year. It is currently paying retirement benefits at the rate of about $54 million a year. In addition. Death benefits Are running about $2.5 million a year. The amount a teacher or state employee receives upon retirement varies widely depending upon the number of years in state service and the amount of his salary. In addition to s t a t e retirement benefits teachers and state employees participate in social Security. If the teacher or state worker received an average salary of $4,800 during his last five years of employment and he retired at age 65 after 40 years of service he would receive a retirement Check of about $200 a month. If his final salary average was $10,800, his retirement at age 65 after 40 years service would run about $493 a month. If his salary had averaged $14,-400, the retirement would amount to $673 a month. In each Case the worker would also receive a social Security Check. An employee or teacher could if he wished elect to retire at age 50 with 20 years of service. He could also elect to receive smaller monthly retirement checks in order that a surviving wife or husband could retrieve a like amount or a smaller amount As Long As she or he lived in cases where the retired worker died first. The states retirement Law also provides Cost of living increases in retirement benefits where the Cost of living increases As much As i per cent during the preceding year. The retirement system is an Arm of the state treasurer s office and is administered under the supervision of a Board of trustees of which the state treasurer is sex offi Cio chairman. The director is w. H. Hambleton a 6lkyear-old Maryland native who has worked for the system 16 years. He became director last july after about three years As assistant director. Of the retirement systems $1.4 billion in assets about 76 per cent is invested in corporate Bonds and about 13 per cent in common stocks. The remainder is invested in government securities. With Bonds paying 6.44 per cent on the average the fund earned $70 million last year. Like others who have invested in stocks the retirement systems stocks have dropped in value during the recent Market decline. Hambleton said the system s Stock portfolio still shows a gain Over the amount invested because a fall of these stocks Are strictly Blue Chip a at University of Florida information on Energy pooled at new Center by Eric Sharp associated press writer Gainesville Fla. Apr an a Energy Center has been established to Pool information about the Energy crisis and Channel it to Industry and government. The University of Florida Center a the first of its kind in the United states a is using material provided by about 50 scientists and specialists from a dozen Fields. The information is being used to help government officials and research groups across the nation. A it seems the Only workable approach to the problem a said or. Morton Smutz. Dean of the University a school of engineering who has Given data and planning ideas to the Interior department the National science foundation and other agencies. Physical and social scientists at Florida decided to Pool information in the Center a year ago after concentrating separately on the Energy crisis for some time. They believe the United states laces severe economic and social disorder unless drastic Steps Are taken to reduce Energy consumption. Energy Center researchers Are studying alternative Energy sources including solar Carolinas use of Power drops by the associated press two major suppliers of electricity in die Carolinas. Duke Power co. And Carolina Power and Light co., say Energy consumption in november lagged behind projections. The drop was attributed As much to mild weather As to voluntary Energy conservation Steps. Duke Power which serves the Industrial Piedmont sections of both North Carolina and South Carolina reported 3.692 billion kilowatt hours were consumed in november a compared to 3.801 billion in october and 3.693 billion for november 1972. Duke Power spokesman Dick Toome said the Utility had projected consumption at 3.893 billion kilowatt hours for last month. Carolina Power and Light which serves Eastern sections of North Carolina and South Carolina said its customers used 1.933 megawatt hours of electricity during november. The projected usage had been 2.012 megawatt hours. In october 1.933 megawatt hours were used while in november 1972, usage was 1.885 megawatt hours. Energy and nuclear Energy. One of the leading theoreticians at the Center or. Howard Odum an ecologist said the United states should adopt a system of counting in Energy units not dollars. He said that any major project must be related to its effect on the country a total Energy reserves. In a paper prepared for the Royal swedish Academy of sciences Odum says nations compete for survival much the same As animal species or Forest growths. In times of plentiful Energy the successful nations Are those that grow rapidly such As the United states Odum says. In times of shortages the successful nations Are those that reduce growth and make the Best use of the available Energy. Or. Smutz believes that while physical scientists now get the most attention input into the Energy Center from the social scientists will become More important. New Church organization launched Birmingham Ala. Apr delegates representing More than 55,000 Church members were to meet in Birmingham today to organize a new presbyterian denomination. The churches forming the new denomination for the most part have withdrawn from the 900,000-member presbyterian Church in the United states. Currently called the Contin a i n g presbyterian Church movement one of the first orders of business will be to select a denominational name. The approximately 200 churches Are located in 14 of the 15 states in which there Are presbyterian Church . Churches. The decision to form the new denomination was made at a meeting in Atlanta in May. Organizational principles were drafted at an advisory convention in Asheville no. In August. The three Day meeting is being held in racially integrated Briarwood presbyterian Church in Birmingham. Kidnapping of dancer admitted Raleigh apr a North carolinian described by his attorney a was a wild country boy that got drunk and got in Over his head pleaded guilty monday to kidnapping an exotic dancer. Bobby Earl Holland 29. Of Raleigh was sentenced to 25 to 30 years in prison for the kidnapping sept i of Maria l. Por Talatin who dances professionally As Cielito Lindo. Miss Portalatin testified she was abducted from her Raleigh Motel room by two men who had Black stockings pulled Over their Heads. She identified the men As Holland and James n. Edwards 16, also of Raleigh. A pre sentence investigation was ordered for Edwards. A Highway patrolman arrested both men shortly after the abduction when he stopped their car on a routine traffic inspection. Eat Cockerham amp iowan hmm Nam. Optic i is Sii n warn St Phou 187 Sha ii e Hill any Din tars prescription h or classes a a Complete optical service a repairs a duplications 1w1e-j p. Of cock Ham off Street parking Robert l. y Myca introducing a certified member of the . Health club High Point n. C. Menus division to in bearer of this non try no Fern by card ii entitled to the exclusive privilege of this club and equipment. Membership privileges include personal Massage service. We Are an affiliate member of the National Council of .this membership expires health service director general Secretary a Christmas gift for the husband who Hasni to everything but needs it. North Viets fight Way into District capital by George Esper associated press writer Saigon apr North vietnamese tanks and troops fought their Way into a District capital in the Central Highlands tuesday and the Battle was still raging As dusk approached government military spokesmen reported. The South vietnamese command said government forces destroyed six North vietnamese tanks in the fighting at Kien due in the lower Central Highlands 90 Miles Northeast of Saigon. It. Col. Letrung Hien Saigon a s a chief military spokesman said it was the first time the communists have attacked a District capital since the ceasefire on Jan. 28. Hien said North vietnamese activity in the Region near the cambodian Border a has created a very serious situation throughout that part of the the North vietnamese want to take Kien due on Highway 14. So they can move on to Gia Nghia the capital of Juang due province 12 Miles to the Mien said. A we urgently requested the International commission of control and supervision to do their Job to Stop communist violations of the cease fire especially in Quang due a Hien said. Since nov. I the North Viet Long he Ding fas Teeth powder. It takes the worry out of wearing dentures. It s not a showy gift. You could put it in a Small envelope. And he could t use it Christmas Day. The Myca is closed Christmas and 5 other holidays. But he could get a lot of use from this card on the other Days. Like a steam or Sauna Bath on those cold Days to warm his Bones. Followed by a soothing Massage when he s tense so hell come Home relaxed and Happy. There s a lot More. Hell have a Chance to work out in a private exercise room with lots of special equipment. And play handball or pad Leball or take a professionally led fitness class designed especially to improve his heart and circulatory system. With this Little gift you can add life to his years and years to his life. Call the Myca a 882-6854 for More information 117 7 3 namese have been attacking government positions along Highway 14 to Complete the 400-mile Supply Road they Are trying to establish from the demilitarized zone Down the the laotian and cambodian Borders to Loc Ninh the Viet Cong Headquarters 75 Miles North of Saigon. South vietnamese officials maintain this is in preparation for a general offensive during the dry season Early in the new year. North vietnamese forces overran three government posts along the Highway Early in november but the South vietnamese reported last week they had recaptured one of them. Dak song. Military sources said the Battle at Kien due started just before Dawn when North Viet namese sappers moving behind heavy artillery and mortar barrages broke through government defences to the North and South and set up fighting positions in the streets. While government troops were trying to Root out the sappers North vietnamese infantrymen and tanks launched two More assaults on the town. South vietnamese warplanes hit hard at the North vietnamese forces and by mid afternoon were reported to have flown 70 strikes in the Region. Field reports said 25 of the North vietnamese sappers were killed there was no report of South vietnamese casualties. The Viet Cong delegation in Saigon said it had no report on the fighting at Kien due. But a spokesman said the area a belonged to the provisional revolutionary government for a Long time and was taken by the Saigon administration after the for watch repair and jewelry j. W. Leonard jeweler located in the Bow Stafford bldg. Jamestown phone 454-1401 let us add some regal coir to your life confused a worried a a upset i ind i i phone us 882-8121 2 special introductory offer. All children 24 months and under will be photographed at no charge big 8" x to Quot portrait regal color s 1.47 Complete. No Lun Dunc or other hidden Cherie. Limited offer a one per subject one per family a additional members $2.47 each a groups photographed at $1.00 per additional subject. Regal service portraits will be delivered within three weeks. You May be set from a finished package. 3 big Days oses Days studio Date dec. 3-5 hours i i a.rn.-7 d. Southgate shopping Center j take it along for the holidays 693-1091 Motorola 12" Black amp White portable to 12 diag. Meas Black and White portable to goes anywhere you go. Compact and Light it comes in an attractive Walnut Grain finish Cabinet with up front controls and built in carrying handle. Special detachable Glare guard filter improves picture contrast and minimizes annoying Glare and outdoors. A custom m i prese Chi a a. A a a do l a tuning each time you change channels. Front mounted Golden voice speaker beams sound directly towards viewer. Re contrast and minimizes 8888 i Goodrich r we re the other Guys 4 ways to charge a revolving charge a american express a master charge a Banka Dericard store hours Mon. Thurs. 8-5 30. Fri. 8-6. Sat. 8-5 . Your convenient . Goodrich store 201 English re. Tel. 882-4193 a television stereo phonographs a refrigerators a freezers a ranges a washers a dryers a vacuums 117 8-3

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