Thursday, June 1, 1978
6«miß®cp BksS)®?S
K£l®lß©«£\Kf
EcsgxwpG 15® GDo® ERsofpfl®
One of the biggest headaches to those members of
Congress who are trying to get a handle on government
spending is the “cost overrun" problem at the Department
of Defense.
Part of this can be blamed on inflation, but not all. All
too frequently these extra costs are incurred because people
in the Pentagon pimply fail to use good management to
control spending.
Comes now the Cruise Missile, which we must have as
a substitute for the B-l bomber. The Senate Armed Services
Committee has found that things are no better, as far as
management and costs are concerned, than they have been
with previous programs.
In requesting funding for next year, the committee was
told by the Department of Defense that the first 36 missiles
would cost $94 million, more than twice the estimated $44.5
figure which was given the committee last year.
In presenting the new, higher figure, the Pentagon
accepted at face value the claims of contractors that the cost
must double.
This disturbed me and other members of the
committee because it shows loose management control over
the Cruise Missile program. Because of this situation, I
proposed that the committee’s concern be stated plainly in
the Defense budget authorization for Fiscal 1979.
“The committee is deeply disturbed,” our report
states, “that the Department of Defense has not exercised
closer management control over the cost and program
direction of this vital strategic system.
“The committee advises the Department of Defense
that it is unacceptable to continue the poor management
oversight of this Cruise Missile program. The committee
expects the Department of Defense to take actions
necessary to immediately define a firm program direction
and obtain supporting cost data to justify this program
direction.”
A strong national defense is certainly necessary in
today’s world. But the billions that are spent for that
defense should be handled with sound management and a
minimum of confusion caused by lack of direction. That
was the committee's intent by placing the strong warning in
the budget.
One other thing in connection with the Cruise Missile.
The Pentagon proposed to spend $lB million to deploy
missiles on two B-52 bombers in advance of full
development. They would have had no strategic value and
the whole thing looked like a public relations effort. At my
suggestion, this proposal was turned down and $lB pillion
was saved.
BUY A NEW BUICK,
OLDS, PONTIAC, GMC TRUCK,
JEEP OR A FINE USED UNIT AND...
! Land, Buildings, Livestock, Furniture,
Trailers, Bulldozers... Anything!
/TBTV VISIT THE HOME OF THE *GM* GIANT
ofir llfll/r MOTOR CORP.
JA\ HIIHr EDENTON4B2-8421
ff N. Broad St Ext
€fief/c
downtown <Sedenton I IIH I
UTflfflW
20% holds your coot selection on Loy-Awoy
until September Ist . On that dot*, regular
monthly payments begin with final payment
by November'3oth. (Pre-Season coat
selections may be charged to your Belk
Chorge occount with no finance charge until
September Ist.)
I I Xt/ Ynk * *
/ k)Wi low pHcci • • • purs CMhnMft costsl
/ iF" =r199.00
I \ 1 new is the very beet time to afford that tiny luxury
1 I \ row dreomed impouiblo on elegant 100% cashmere
m V And at e price unexpected for this time of year. So
\ bundle up now for next winter in these versatile beauties.
\ This classic, belted wrap with inseam pockets is o winner
f |H mt-: V camel or beige. You'll like the detailed stitching of the
I **■ ■ packets on this stngle-breosmd coot with detachable tie
m *■*» Y9km detailing. In dramatic red end basic beige
I 40 * T '" 3 To *Toced end detedod discriminating ... the
\ I ‘o« * top stitching. Kicky little front pleots for ease of
II ml movement tool In vicuno or beige. And they're oil tux-
BV m \ uriously satin lined- Stylet A. and •. available .n sixes
Wk \ 14 »»H petite. Style C. available m sites 4to I*.
\ \ Shop Monday Through Thursday 9:30 A. M.
I \ Until 5:30 P. M. rtday 9:30 A. V. Until 9
Wtwfay 9:30 A. M. Until IF.lt
April, 78 -152.1 p
|cc ftonh, 78 - IJZIr
Fab., 78 - 151.8
jjq April, 77 - 146.0 ✓
p-PnjMniiy r-Raviwd ~l '
145 -f*—
140
135 -f—
--130
125
ion mi = m
Adjusted foi prices
and saasonal variation
115 Wachovia
—J
110
105
,q 111 P
72 73 74 75 76 77 78
North Carolina Business Index
The level of business
activity in North Carolina
during April was unchanged
lor the month of April
following a period of strong
growth during the first
quarter of 1978, according to
the Wachovia Business
Index.
A gain in average hourly
earnings in manufacturing
industries offset losses in
non-farm employment and
manufacturing manhours.
A decline in non-farm
employment resulted from
losses in both manufac
turing and non
manufacturing employ
ment. In manufacturing
employment, durable goods
industries experienced a
gain of 0.1 per cent, while
employment in non-durable
goods industries was down
0.5 per cent. The em
ployment decrease in the
non-manufacturing sector
was largely due to a decline
in contract construction
employment. Trade, ser
vices, and government
registered employment
gains.
The seasonally adjusted
unemployment rate was 4.2
per cent in April, unchanged
from the March level. The
national rate for April was
6.0 per cent, compared to 6.2
per cent in March. The
unadjusted unemployment
rate for North Carolina was
4.0 per cent in April.
Car and truck sales were
up appreciably from the
sluggish March sales. Year
to-date, car sales are down
3.3 per cent, while truck
sales are 7.8 per cent above
the total for the first four
months of 1977.
THE CHOWAN HERALD
The Wachovia North
Carolina Business Index
measures the level of ac
tivity in North Carolina on a
monthly basis. Using 1967 as
the base of 100, it reflects
indicators of employment,
production and spending in
the state’s economy. All
figures are adjusted by
Wachovia-calculated fac
tors for expected seasonal
fluctuations.
The Index has
been published by Wachovia
Bank and Trust Company
for over a decade as a
measure of the economy..
Economical Cooling
-aT 7 Thru June 10th
c _^aißW,-‘ : SOMETIMES THE OLD IDEAS
ARE STILL THEBEST IDEAS!
MOVE IT - MOVE IT - MOVE IT!
Keep Your Air Fresh & Cool!
' Roof Vents^^!
QUALITY
POWER ATTIC
FEATURES: R> VENTILATOR nr
.Heavy Steel Construction CS rff
.Whisper-Quiet -%• .Thermostat Controlled C*
C) .Runs Whisper Quiet r-w*
Several Sizes Available: CW
(Priced With Shutter) *m? r^tr
36” ATTIC FAN .... *154“ $ 37 9 i4”Fa„ JP"
30” ATTIC FAN .... $ 137 57 rf*3r^
24” ATTIC FAN .... *1
\INII i< h if rs 1 how IT works ...
INCREASE THE \Bfly3f:. \ I ! //J |V'y\ BE £° RE
rm i|.^YSTF^^ F |M'TAllltir \ W/ Superheated air trapped in attic spaces can
COOLING SYSTEM BY INSTALLING V '*V r 150°. This hot air penetrates down-
TURBINE VENTS 1 | ;* ’lip I 1 | strains to cool t(i e house.
Cfc**™
AC a* $1 099 With a power attic ventilator, the tempero-
AS LOW AS AO 1 QQ° , ure | n the attic can be brought within 10°
ADJUSTABLE BASE fke outside temperature. This allows your
AND 12" THROAT
SZdlaoouteukudctrryax /\ \
tefxler priced nerchendiM / \ \.
~ Lama. \ store hours: Mon. thru
L—uujjj_ihiliu I— I
Postal Exams Scheduled For June
Postmaster James M.
Bond has announced that
clerk-carrier exams will be
given during the month of
June and urged that all
those interested apply to
take the job-related tests
that can lead to Postal
Service employment.
“We have not opened our
register since March 28,
1975, and an examination of
Beef Producers Take Loss
It is no secret that the
price of beef is on the rise,
a fact that any supermarket
shopper will confirm.
“What that shopper may
not realize, however, is the
fact that from 1975 through
1977, the man who raised
that beef was doing so at a
loss of around $5 to $lO per
hundred pounds,” according
to Jimmie M. Parrish,
president of the Chowan
County Farm Bureau.
Parrish pointed out that
while consumers were
enjoying a plentiful supply
of beef at very economical
prices, cattle producers
were caught in a severe
economic squeeze, which
caused many to reduce or
sell off their entire herds.
The local Farm Bureau
leader explained that in
order to cut their losses and
attempt to get back on solid
financial ground, producers
begin in 1975 to cut back the
size of their herds. This has
now reduced beef suplies,
which, according to the
basic economic law of
supply and demand, has
it led us to believe that it is
out of date, and that many of
the names on the register
are people who have moved
or for some reason are no
longer available to take
postal jobs,” Bond said.
“I do not want to give the
impression we will be hiring
great numbers of people in
the coming months,” the
resulted in somewhat higher
prices to the cattleman and
higher beef prices to the
consumer.
Parrish said beef
producers desperately need
higher returns in order for
them to stay in business.
He said this “cattle cycle”
will continue as producers
now add to their herds
because of the prospect of
higher prices. The result
will be more beef and the
Retains Post
RALEIGH James
Martin of Edenton has been
re-elected president of the
N.C. Association of
Municipal Electric Systems.
He was chosen for a second
term during the group’s
annual meeting held in
Raleigh.
Lunch Menus
Friday will be the last day
cafeterias in Edenton-
Chowan Schools will
operate. The menu is:
Hamburger on bun,
french fries, ketchup,
mustard, tossed salad, rice
pudding and milk.
postmaster said. “I an
ticipate approximately two
vacancies will occur in the
next two years that will be
filled by hiring people from
our up-dated job register.
We need qualified people
who will be willing to accept
employment, and we want
to offer people in the local
community the chance to
compete for these openings
possibility of lower prices to
consumers.
“Consumers are not
really spending any more
for beef, relative to their
increasing incomes,”
Parrish said. “The percent
of consumers’ take-home
pay spent for beef has
averaged consistently
between the current low of
2.1 per cent and a high of 2.8
per cent since the U.S.
Department of Agriculture
began keeping statistics on
this in 1949. At the same
time, the average person’s
consumption of beef has
risen steadily.”
Hotpoint Appliances
General Electric
Heating & Air Conditioning
• Sales & Service •
Joe Lee Company
482-8884
Page 7-B
by signing up for and taking
the exams.”
The postmaster said the
Postal Service established
the policy two years ago of
extending eligibility in
definitely for those on the
job register because little
hiring was being done. “On
October 8, 1978, those who
have been on the job
register for more than two
years will lose their
eligibility. They will have to
reapply to compete for a
standing on the new
register,” he said.
Postmaster Bond ex
plained those wishing to
take the exam must apply
during the period between
May 30, and June 5.
Applications for the exam
may be secured from one of
the Post Offices which will
be establishing registers
with this examination. Post
Offices which will be
establishing registers are
Ahoskie, Edenton, Elizabeth
City, Hertford and
Plymouth. The exam will be
given during the month of
June in Elizabeth City.