High Point Enterprise Newspaper Archives Oct 30 1974, Page 13

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High Point Enterprise (Newspaper) - October 30, 1974, High Point, North Carolina . Corporate farming i High Point Enterprise wed Rozday october 38, 1174 a companies escaping ecology Laws requirements Edt toi a note the Winston Salem Sentinel has taken a Clote look at massive farming operations that Are being developed in Eastern North Carolina. The results Are reported in a four part series made available by the Sentinel to the associated press. By Nash Herndon written for associated press Winston Salem map it a two mass production farms in Eastern North Carolina that could cause environmental disaster for a Large area Are being developed without any state or Federal ecological studies or permits. A third farm has been denied a permit but is continuing to develop its operation existing Laws would allow. If not Force the . Army corps of engineers and the state department of natural and economic resources it Neri to require dredging permits and environmental Impact studies spokesmen for the agencies say the permits and studies Are not be my required. First Colony farms with 380,000 acres and shims american farm with 7,500 acres have not applied for permits War have they filed environmental statements they occupy More than 600 Square Miles in Washington Hyde Tyrrell and dare counties open grounds farm an italian owned and operated development in Eastern Carteret county s Mars like Woodlands is Channel izing 45.000 acres despite Dis approval of state and Federal dredging permits the Ner and the corps of engineers indicate that a reapplication for permits would be approved although scientists at the Duke University Marine Laboratory have filed Strong objections an Engineer spokesman at the Wilmington District head quarters said the corps is Quot unable to interpret Quot a 1872 Federal Law giving it author to to Issue dredging permits for Early development. An Ner spokesman said the department usually does not w a c Kahim \ oven it mum fans a Atlantic Ocean 0 5 to a it rfcs mum a Ltd 4��ft require dredging permits for Quot legitimate agricultural operations Quot both agencies said permits May be required when drainage channels Are tied to navigable Waters. Each spokesman also said no pressure is being applied for permits partly because first Colony farms has hired its own environmental experts. First Colony is owned by Malcom p. Mclean a new Jersey industrialist and former Winston Salem resident. Shima american farm is owned by Shima american inc of Elmhurst ii a japanese firm a study by the Sentinel of Winston Salem showed that Section 404 of the water pollution control act of 1172 gives the corps authority to Canning shortages continuing Washington it a it who put eight great tomatoes in that Little bitty Jar the Home canner that s who forced by a shortage Al equipment to stuff As much produce As possible into each Container. Although the Canning season has ended for most parts of the United states the agriculture department already is trying to prod manufacturers into increasing production to avoid shortages next fall increased Home Canning is predicted because of of inflation and president Fords plea to each citizen to Plant a win a whip inflation now Garden. Meanwhile americans who did t can Stu find the commercially canned vegetables costing More this fall and Winter with some shortages also expected according to the agriculture department the department also said that prices of fresh vegetables this fail Are higher than last year primarily because of smaller harvests and higher markups of middlemen. Require permits for drainage channels that ultimately will Drain into navigable Rivers or sounds it also allows the corps to require an environmental assessment if the intended development is Likely to affect Quot the human in a comment the corps has chosen to enforce a More limited Section of the Rivers and Zabors act of 189ft that Law requires permits Only when channels connect directly to navigable Waters Charles Hollis who supervises the permit office for the Wilmington District office said Tow corps is unable to interpret the 1972 Law because the scope of jurisdiction is Quot so Broad Quot however. A lawyer for the in Viro Simental Protection Agency in Quanta said two Federal courts have ruled in cases in Kentucky and Florida that the 1972 Law is applicable. Quot it covers any body of water ultimately draining into navigable Waters and that s just so Broad it could mean the water standing in your Yard is under our jurisdiction. Quot Hollis said Gus Speth. An attorney for the natural resources defense Council in Washington contends that the Wilmington Engineer office is Quot probably the weakest corps District in the nation Quot the key phrase in this Law is the one requiring an environmental assessment of development that May significantly affect the human environment. But the Wilmington corps has traditionally found that no development affects a the human environment a Speth said. Speth said the Quot rest of the country a coastal areas Are already gone and now we re just throwing away the Beautiful and fragile coasts of the Carolinas and the agencies responsible for monitoring development Are turning their backs because they Don t want to get involved Quot Arthur w Cooper assistant Secretary of the North Carolina department of natural and economic resources said the state May require permits when the farm ties into navigable Rivers Quot legitimate agriculture is usually exempt in this state., the channels used to Drain the land Are on private ground right now. And our understanding is that channels on private ground Are exempt from our Cooper said Quot i think ifs inevitable that Well require some form of permits somewhere Down the line in future year Quot White Morrow an Ner official for the Greenville regional office said an environmental assessment of such massive farming operations could be difficult and costly Quot technically i suppose we could require permits from Here to Asheville but the food crisis to up and coming and i guess the feeling is that it s just not Good to Stop and do an environmental study when it wit take so Tong and Cost so suppose you could Call it a political decision Quot Morrow said. He estimated the Cost of an environmental study for first Colony farms which would Bear the expense to be a maybe in the $200,000 Range Quot Cooper said the state denied a permit to open grounds farms because they provided us with absolutely no information about their operation a How much land How Many head of cattle and so on Nan Sutter Strum hold Hairspray for super holding Power Between sets as2?>vaiu� you save i Alka Seltzer in i ii or Alka Seltzer bottle of 25 an 83c value you save 34�, 49 c new Playtex living so in if re in Bright ulu it new colors yellow Pink Blue a $1.59 value medium Large our regular _ $1.09 value you save 80 direct Aid Hano lotion 6 of. Size a 95 value 69 you save 7b new Playtex deodorant by. Tampons 30 with special cosmetic $109 offer on Tho Back of a Ach to a 2� Quot you Savi regular or super value $1�� a Ermar regular size bar Juc Eil i Tom Gilmore tier pro a nth has far the slate meet fat ill com amp a to to a inn tvs business Mirror 4 will Mia by Quality Misc has is lowest pm i Entje 134 h. Main High Point 19 Salem St. Thomasville Digel tablets anti Gas antacid new Orange Lemon flavor Box of 100 s a 2 value you Savi 50 Mutual Are undecided about Market s future by John Cunniff a business analyst new York api although some stocks Are Selling at their lowest prices in a decade some Mutual funds hav Tiosen to maintain 20 per c ent or More of their assets in Cash or its equivalent. In doing so these funds Art saying conclusively that they do not View the Low level of the Market As a buying Opportunity ironically their Bearis Ness undoubtedly is contributing to the Low level of corporate share prices. Thus reinforcing a situation that drove them from the Market in the first place a study by Wiesenberger services which conducts a continuing Survey of fund activities shows the highest percentage of assets in Cash or Short term notes on sept. 30 was turned in by growth oriented funds close to 24 per cent of the assets of such funds whose stated objective is maximum capital gains remained uncommitted to the Market on that Date a jump of 8 per cent since the end of March. Theoretically the Low prices of Blue Chip companies scores of which Are netting below Book value represent an Opportunity for portfolio managers whose primary goal is to buy Low and sell High. In remaining on the sidelines As Many of the funds obviously Are they demonstrate an uneasiness Over immediate and Long Range Market prospects. I funds with various other goals Abo increased their Cash position since the end it March. On sept. 30, for example Lon term growth funds reported nearly 20 per t ent of their assets in Cash compared with 14 per cent six months earlier. Even those funds committed to a growth and current income Quot had 17 per cent of their assets in Cash despite some unusually Large dividends being paid by capital hungry corporations. In general the purpose Etall Mutual funds is to return to the investor a larger sum of Money either in the form of capital gains or income Money sur naming in Cash cannot contribute to those ends in fact because of continued inflation of the Dollar the Money that funds retain in Cash actually diminishes instead of growing nevertheless Many portfolio managers obviously think for n c. Toy or by Choli a wok Tam House that is a lesser evil than losing Money in a declining Market. A Sharp decline in the percentage of assets kept in Cash would be interpreted by Many analysts As a signal of greater Confidence on the part of funds. So far however that signal has t been flashed. A a a a a a a a a fuel shortage j a switch to a a electric heat j j lifetime guarantee j j on ail electric heat. J j guaranteed lowest j j prices m town. Call j j us for All your elec j j Tricot needs a phone a 475-7247 j a Watson electric i a w i am to Tutu at letters a Minim Mil. To. See How they run. Over 200 to choose from. Space View the new acc tron Lay a Woy now i 121 South main Call m5-2251 Park Frei a new parking Plaza to ism you can to do better. No Bank or savings and loan in North Carolina pays you More for your savings than United Federal. It 1/4% 9 passbook we savings no minimum Dup St i it a a interest savings available when you need them. 1/2% a i Jill certificate it minimum dais Vintere get. Automatically renewable. 3/4% 2 a-4year a we certificate bbl it i too minimum i it Ai a. Mumm automatically renewable 1/2% m 410year certificate it so v i too minimum. Daily interest. Automatically renewable. Federal regulations require a substantial penalty for Early withdrawal on certificates. United Federal savings Ano loan association a a 14# ilk South Franklin Sun it. Rocky Meyns 202 North main slim. I Sunbury 4uju Wak i Road in Rawich Aero i rom i Somgal 831 Kil Datie farm Road in Cary 2-lls pundit Maii Riwu a. I a a a la it to member i Seklic

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