High Point Enterprise Newspaper Archives Jul 10 1974, Page 8

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High Point Enterprise (Newspaper) - July 10, 1974, High Point, North Carolina Thrifty maid beef 8a High Point Enterprise wednesday july to 1974 securities panel hurts a amp a firms by John Cunniff a business analyst new York a the nation s Thrift institutions think they re getting a raw Deal from their big competitors the commercial Banks and to some extent also from the securities and Exchange commission and the Federal Reserve. The troubles have been developing for Many months but they Are now coming to a head Over what the thrifts savings Banks and savings and loan associations feel is a direct threat to their very existence. The immediate Issue is whether the holding companies that operate commercial Banks should be permitted to offer millions of dollars of debt securities in Small amounts with floating interest rates. The thrifts claim such offerings Are aimed at attracting the holdings of individuals who ordinarily would keep their Cash on Deposit with them at interest rates higher than available at commercial Banks. The thrifts whose deposits Supply the Basic support for the Home mortgage Market claim they already Are in poor condition As matters stand and cannot fulfil their role in the housing Market. The nations Mutual savings Banks for example suffered a net Deposit outflow of More than $800 million in april and May because of what they consider to be unfair regulatory restraints on their competitiveness. They claim that the one Quarter interest rate advantage they enjoy Over commercial Bank savings accounts is hardly enough of an inducement to savers. They want broader service Powers such As the right to offer checking accounts. When Citicorp Parent of first National City Bank announced plans to offer corporate Lous in denominations of $1,000, with interest at i per cent Over the average rate of Treasury Bills the thrifts were alarmed. They fired off letters of protest in every directions to the head of Citicorp the chairman of the Federal Reserve Board the securities and Exchange commission. Such activity by a com j Mercial Bank they stated was aimed at attracting the very customers that support the thrifts. Norman Strunk executive vice president of the United states league of savings association said the offering a is a flagrant attempt to circumvent regulation a establishes a dangerous precedent and poses a serious threat to the stability of our nations savings regulation q is the Federal Reserve requirement on interest rates permitted to a offered on savings accounts currently a top rate from the thrifts of 7.5 per cent on four to seven year deposits. So far neither the Federal Reserve nor the Sec feels empowered to take any action to withhold the Citibank offering or a $200 million offering by Chase Manhattan corp., holding company that operates the Chase Manhattan Bank. If these two big Commer Cial institutions Are successful in their offerings Many More Are Likely to follow. And if that happens the thrifts warn it could mean that they Are going to lose billions of dollars in deposits As their customers withdraw from their accounts to buy higher yielding corporate notes super Brand Grade a eggs Large 2doz100 medium 2doz 88 we Unicorn food stamp shoppers Arrow Blue White or Coldwater detergent 3 la i of boxes Quantity rights reserved e none to dealers a prices Good thru sat., july 13th a your favorite brands of limit 2 with $5 of or More food order of Jupt hip Chi Maxwell House Law Coffee 68 deep South salad dressing 49 $ save 70c Stew 59 chek assorted flavors drinks s-88 $ Hein b. B. Q. Sauce 3?38c thin sliced Sandwich bread 3 loaves $1.00 seeded hamburger buns 3 pkg $1.00 Kaiser Rolls Angel food cakes x 2 just 88c 210 of on size 99c baby food beechnut strained 4% of. Jar Junior 7c 13c Gerber a strained 4v4-oz. Jar Junior _ 8c ,s?14 x Thrifty maid luncheon meat 12 of. Can 69c Blue Bay Salmon 7 3/4 of. Can 8 9 sex Thrifty maid corned beef 12 of can $1.09 Thrifty maid Pinto Beans dry packed Thrifty maid \ Blackeye peas 15 of. Cans $1.00 Thrifty maid mixed vegetables \4 a $1,0qj 10c / new pringles potato chips 43c 4-or. Cam pro. Of 4h-oz. Cans 83c a amp a camper sales amp service a Sta Craft fold out campers a Sta Craft to wilderness travel trailers 19-27ft. Now in Stock whole smoked 6-8 lbs. Avg. Pion is. 49 t w d Brand u s Choice beef Boneless w o Brand u s. Choice beef whole hindquarters 150 lbs. A Cut free to customer s specifications Holly farms chill pack Fryer breasts or thighs Holly farms chill pack Fryer necks amp backs Palmetto farm Cole Slaw or potato salad whole smoke. Sliced picnics in Chi cd o ib$1.69 Holiday Tim Franks is $1.29 in. 89c w d Brand sliced cooked Ham or picnic i. 69c inca $1.59 w d Brand by the piece up to 4 lbs i Brau Schweiger in. 49c in. 19c Sunnyland smoked sausage links $1.79 is 49c super Brand Ali flavors Yogurt 4 cups 100 50 lbs. W d Brand beef Freezer special 6 lbs sirloin steaks 5 lbs. T Bone steaks s lbs bib steaks 5 lbs. Round Steak 10 lbs. Chuck roasts 6 lbs. Plate Stew is lbs ground beef All for $55.95 w d5lbs. Special 218 pkg. Hickory Sweet Bacon i la pkg. Sliced Bologna 1 la. Boll whole hog sausage i la. Pkg. Reg. Franks All for $3.49 look what 79c will buy a 8 of pkg Sunnyland Sharp or extra Sharp cheese Sticks a 12 of. Pkg. W d Brand sliced cheese food a 2 a of pkg super Brand Cream cheese a i la. Boneless turbot fillet a i la. Boneless Pirch fillet or a i la 8 of. H b g Whiting fish your Choice a. 79c Harvest fresh peaches $ lbs. I of Harvest fresh produce Santa Rosa plums Frozen foods dept. Thrifty maid lbs. $1.00 ice milk Hal Vanilla. Gal. Chocolate or fudge Royale gun. 59c july special 11,000 Btu 0u0 therm air cond. Self storing Eikner awning a buy from us non foods dept. Vaseline Petroleum Jelly arthritic strength buffering 59c a to of 40 79c Thompson seedless grapes Sweet Juicy nectarines Vine ripened cantaloupes Tropicana 100% pure Florida fresh Orange juice la. Supe Brano 59c fudge bars mariners t. 49c fish Sticks sea Pak Ach 59 shrimp shoestring Mai .r79c potatoes my 69c 3 loss 89c 42�lo $1.29 1�?85 South at Groomtown re. Greensboro n. C. Phone 292-0054 is. I cheese snaps i is 49c Cates Sweet midget pickles is 71c Kim gift skittle chips a a 69c Maxim inst freeze dried Coffee of Jar $2.55 Tex inc 32 of. Janitor in a Orum size sic 32 of. A. Fantastic Btl 79c Lysol Spray disinfectant 7oz. 79c in of. $1.49 21 of $1.89 instant nested 2 of. Jar 99c 3-oz. Jar $1.33 2 of. Jar with Lemon 59c i College Village shopping Center a i Tom Meader manager Fairfield Plaza shopping Center j Wesley Gourley manager a stores open sunday i 6 p m Amostown shopping Center r. W. Barlow manager a a a Imti

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