Newspapers / The Carolina Times (Durham, … / Nov. 28, 1981, edition 1 / Page 8
Part of The Carolina Times (Durham, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
y 8-THE CAROLINA TIMES SAT., NOVEMBER 28, 1981 j Dedication November 28 ; . New A&l Stadium MuffiUs Dreams By Richard E. Moore GREENSBORO A&T State University will dedicate its new $3 million football stadium complex on Saturday, November 28. A&T alumni and friends had long been suggesting that thej university needed its own! football stadium. 1 Whenever they gathered, they talked about the Homecoming crowds jammed into Greensboro's Memorial Stadium (really a baseball field). In more recent years, they talked about the muddy track which ringed the field whenever .it rained, or about the abysmal lack of restrooms at the stadium. Playing in the old stadium was also a nightmare for those who accounted for the gate receipts. With no numbered seats, it was impossible to verify the large crowds which the sports reporters in dicated were at the games. On the other hand, Aggie football teams over the years distinguished themselves in Memorial Stadium by winning a number of championships. But the continuous agitation for a new stadium ultimately pro duced an "idea whose time had come." Alumni began talking to Chancellor Lewis C. Dowdy as early as 1969, but the idea had gathered a full head of steam by October, 1973, when the A&T board of trustees approved a resolution authorizing the universi ty to conduct a feasibility study on the possibility of building a new stadium. Dowdy ap pointed a 12-person committee with athletic director, Cal Irvin, as chairman. The. . committee reported to Dowdy that there was genuine in terest 'in building a stadium, and some pledges and donations began dribbling in. Impetus for a full scale fundraising drive for a stadium came into being with the return of Dr. Albert E. Smith t6 A&T in the fall of 1976 as vice chancellor for develop ment arid university rela tions. Smith had served as the Aggies athletic director before becoming assistant athletic director at tiie University of Pitt sburgh. ; He had also served several years as athletic , director at Eastern Michigan University. , Smith surrounded himself with campus and community persons in terested in the stadium project. Greensboro ar chitect, W. Edward Jenkins, an A&T graduate, was asked by Dowdy to draw plans for the stadium. After much planning, the committee decided on a stadium project which would cost in the neighborhood of $1.8 million. It was decided to build the stadium complex in phases. The first' phase would include seating for up to 20,000 fans, with the funds generated from three sources: a SI. 8 million bond issue, $380,000 from alumni and friends; and $120,000 from the business community. Ultimately, a total of $500,000 was raised from alumni, friends, and corporations. Plans called for the committee to conduct a 12-week fundraising campaign. More than seventy volunteers par ticipated in the solicita tions throughout North Carolina A&T staff members, including Smith, Dr. Richard E. Moore, Joseph D. Williams, Mrs. Shirley Frye, and head football, coach, Jim McKinley, carried to story to appeal to other states. The volunteers met and reported weekly, and at the end of the campaign, they had rais ed $320,000 for the pro ject from alumni and friends of A&T. Three of the volunteer captains, Fred Whitfield, Lonnie Goode, and Dr. Theodore Mahaffey, had corhbined to. raise more than $85,000. Whitfield secured cash and pledges totalling $29,668 and Goode followed with contributions of $29,000. Mahaffey secured $.24,155.';.., The fundraising campaign was officially completed by June of 1977. The fundraising cam paign drew broad com munity support. Leading the way with corporate gifts were Cone Mills, Greensboro National Bank, WFMY-TV, Southern Bell, and the Greensboro News Com pany. The following companies also con tributed "substantial" amounts: Southern Life Insurance Company, Ciba-Geigy Corpora tion, American Federal Savings and Loan Asspciation, Berico Fuels, Inc., Peat Mar wick Mitchell and Com pany, First Union Na tional .Bank, ; the Richardson Corpora tion, N.C. Mutual Life Insurance Company, Texfi Industries, Inc., Plantation Pipe Line Company, Arrow Exter minators, Inc., J. Hyatt Hammond Associates, Inc., Wachovia Bank and Trust Company, Residence Development Company, and Joseph Ruzicka. An important benefac tor for the stadium pro ject has been Mr. and Mrs. Joseph M. Bryan of Greensboro. The Bryans and their family founda tion contributed nearly $15,000 during the fun draising campaign, then donated another $81,000 for the stadium just prior to its completion. Another highlight of the drive was a $10,000 pledge by the A&T Aggie Gub, the largest single donation by a club or organization and a $5,000 gift from the Greensboro Jaycees. A Radio-thon con ducted via radio stations, WEAL and WBIG, net ted $25,000 in pledges and contributions. Groundbreaking ceremonies for the stadium were held on June 11, 1977, with university, city, county and alumni officials par ticipating. Six months later, the project was fully under way, with the basic design having been modified somewhat from the original con cept of a pre-cast con crete structure to one utilizing basically steel beams. The stadium was completed in time for the Aggies' opening 1981 football game against arch rival, Winston Salem State. The stadium complex includes seating for 17,000. fans, a pressbox, accommodating eighty persons, an eight-lane composition track, two team rooms, four con cession stands, eight restrooms, a first-aid sta tion, a stadium clubroom and an ultra modern solid state display scoreboard. The stadium clubroom, completely furnished with gold and blue furniture, was out fitted with the assistance of a $15,000 grant from the Greensboro Jaycees, The scoreboard, one of the most attractive of its kind in the state, has become a focal point of A&T's football games. The board, which allows the . use of flashing, changing, and traveling words, messages ; and graphics, and i limited animation, is - a crowd ; pleaser. :-""f J- ' The scoreboard ; was donated by Greensboro National Bank, WFMY TV, Burger King on East Market Street and Greensboro Coca-Cola Bottling Company. A&T's new chancellor, Dr. Edward B. Fort, sums up the en thusiasm and pride which Aggie supporters have for their new stadium: "We fuUy intend for this exciting new stadium complex to be an asset for our students, faculty, alumni, the community and the , state. The strength of this universi ty's athletic program is predicated upon the thesis that such a phenomenon evolves from 'the character and academic development of its student athletes. We shall continue the Aggie tradition of academic excellence and sports excellence." v - Open N.C. A&T Cag.e.rs To Season Against WSSU Dec. 1 By Raymond Moody If you're a basketball fan arid you like action packed basketball, North Carolina A&T should be an exciting team to watch during the r981-82 season. A&T head basketball coach Don Corbett said his team will use a three guard offense most of the time this year, because, according to the coach, the Aggies are loaded with players at the guard position. However, Corbett's primary reason for the using three guards is the unavailability of a "big man" on the squad. The tallest man on the team is 6-7 forward Joe Biriion, so Corbett expects to of fset his team's, height problem with speed. And the Aggies have plenty of speed in their guards. The guards currently seeking positions are James Anderson, Ron Stinchcomb, Tony Thomas, Eric Boyd and Brian Booker. "We are very heavy in guards," Corbett said, "I'm satisfied with their play right now, "everybody's been work ing real hard," he said. One guard spot is already ; filled. James JLLM . t I .JBkW Breaks Record Darrin Nelson broke the NCAA Career All Purpose Yards record with a 197-yard performance which included two touchdowns in leading Stanford (Calif.) to a 42-3 victory over Oregon last week. Nelson is shown on an end-run going for an 8-yard touchdown in the second quarter. . UPI Anderson, a 6-2 native of College Park, Georgia, returns from A&T's 21-8 1980 team. Anderson led the MEAC in scoring last year with a 19.5 average. The starting point guard spotis highly corn petit ve. Three guard men, Ron Stinchcomb, Tony Thomas and ERic Boyd, are the leading candidates to play op posite Anderson. "The depth chart at the point seems to change daily," laughed Corbett, who has the en vious position of choos ing one of the three talented players to start. "We don't know who'll be starting yet, but the players who come off the bench will see plenty of action on the floor." "Corbett said he plans to move one of the three point guards (Stin chcomb, Thomas and Boyd) at the "big" guard spot behind James Anderson, apparently so the coach can r shuffe players in and out at ran dom. "We're going to play the length of the floor," Corbett said. "I've never had a team with so many good quick guards, so I plan to use them all." "I want to play pressure defense this year," Corbett con tinued. "We need to froce teams into- our game. We can't allow teams to come down and set up. We don't, have enough height to let them do that." "We have to set up the tempo and it's up to our point guards to do that." A phase of the game k9 f nTJT7 i at 'Mm If you like the high yield of money market certificates, but you don't like paying so much of it in taxes, Wachovia has the answer. The new tax-exempt Wachovia All Savers . Certificate. Tax-Exempt Interest. You pay no Federal taxes on the first $ 1 ,000 of interest; on the first $2,000 if ; you file a joint return.-A glance at the chart will show you what that could mean to you. $500 Minimum, 12-Month Term. If you don't have a large amount of money to invest, or you can't afford to tie up your money for a long time, our new All Savers Certificate may be just what you're looking for. Insured Safety. Your savings The Wachovia All Savers yield effective , Nov. 2 to Nov. 27 is ; 10.770wheninterest ' is left on deposit to maturity. Here's what ' the taxxernption could mean to you. If your taxable v . . . I JTII? income is Your tax bracket Yield of 10.770 approximately! probably ist is equivalent to . a taxable rate of: $46,000 44 19.232. $36.000 39 17.656 $25,000 29 15il69 $16,000 22 13.808 are safe, insured by the F. D. I. C. up to $ 100,000 per depositor, and 1 backed by the financial strength of Wachovia Bank. The Help of a Personal Banker. A Wachovia Personal Banker can give you all the facts about the All Savers Certificate, so you can make an informed investment deci sion. Stop by this week. . The Wachovia All Savers Certificate. A Personal Banker has all the tacts. The yield of 10. 770 b bated on in annual rite of 10. 272 compounded monthlv wn Inter left on depotit until maturity. To earn S2.000.00 inenoi on All Sim rwtf.-.. Member FD f.C. at 10. 770 rou need to invert about 18.570.00 If you leave IntereM on depotit to maturity. ToeimilOOO.OOlnmtereonorAllSavenCmikateatt0.770yourMito invett about $9,285.00 if you leave IntereM oh depotit to maturity. TheK tax braclcett are bated on a married couple filing a joint return. The equivalent taxable rate . ahoaa)ufiM9iwinorthan$18.570.00uiinveMed. SubtaMUIateiM penalty la required : . ft Bank&Trust , Marion Reddin 1 Main Office 201 W. Main Street Durham, 683-5247 that concerns Corbett is bis teams's ability to re bound. The. Aggies will probably be at the disad vantage height-wise this year in every contest, with the exception in one against Winston-Salem State. Supporting Binion at forward will be James Horace (6-5), Antoine Collins (6-6), Joe Lopez (6-6), Willie Powell (6-4), Artie Gaines (6-4), Warren Berry (65) and Tony Glover (6-5). . Powell and Gaines are both converted guards, who Corbett decided to switch to forward this year Willie carf ' play guard, but he seems more comfortable at for- . . ward where he doesn't-' have to handle the ball so .. much," stated Corbett. "Artie has good ability and we need him under Z'.. the boards -where he is more effective." The Aggies have one scrimmage under thier belts already this season. -The Aggies played a -Blue-Gold game in front of the; Charlotte Alumni at West Charlotte High ;: School. fv "The game was well " 1 at ended by the people of -.Z Charlotte," Corbett ;." said. "It was interesting. It will probably be an in- " ' teresting year, top." i s I f Kouv to gaithamosi from your bcrtk 75 y. HE David BufflngUm , mx changes kimct ESTATE PLANNING By David Buffington On January 1, 1982, a law comes into effect that gradually reduces federal estate taxes over a period of six years. By 1987, many estates will no longer have to pay any federal estate taxes on property 6r money pass ing to heirs. Under the present federal laws, when a person dies, up to $175,625 of the estate can pass on to benefi ciaries tax free. In 1982, that amount will be raised to $225,000 and will rise every year until 1987, when it will remain constant at $600,000. For most families, this will mean that when the second parent dies, an entire estate can be passed along to the children or other beneficiaries tax free. , Under the current law, a spouse may inherit tax free up to $250,000 or one-half of the estate, which ever is greater. The new law specifies that when either the husband or wife dies, there is no limitation on how much property can be transferred to the surviving spouse tax free. Because of these changes in estate tax laws, most people will find it worthwhile to review their wills. A person may want to change how much is given to a spouse or to a child. It is important to remember, however, that North Carolina residents will still be required to pay state inheritance taxes, which are not affected by the changes in the federal estate law. (The North Carolina tax, however, has always been substantially less than the federal tax.) i Other changes affect gifts that are made during a person's lifetime. Currently $3,000 per year is the limit on how much can be given by each person as a tax free gift In 1982, that amount will be raised to $10,000 per person per year. This means that a couple can give a child $20,000 per year tax free as a gift. Giving children monetary gifts can be advan tageous in two ways: usually the children are in a lower tax bracket, and any income resulting from the gift (such as dividends from an investment) will be taxed according to the lower tax bracket of the owner-child. Gifts to the children also reduce the amount of taxable property in the parents' estate during their lifetime. The new law particularly benefits farm owners who would like to leave the farm to their wives in a "life estate" arrangement In a life estate, the hus band can leave his wife the farm for hef to have during her lifetime. At her death, according to his pre-arranged stipulations, the farm would go to the children or other beneficiaries. Currently, the wife would be required to pay taxes on the farm's value over $250,000 or one-half of the estate. The new life estate laws allow, the farm to qualify for the unlim , : ited marital deduction, regardless of the value of "; the Um'y.1:. iv vvV.' ; :' ' An estate planner in the trust department at your bank or a qualified lawyer can explain the t$x changes to you in detail. It is wise to review yog&r will, taking into account these federal estate tx changes to see how.they may affect the distribution of your estate. : ' David Buffington is a vice president in the Personal Trust Department at Wachovia Bank and Trust Company in Winston-Salem, He has worked in estate planning far i 12 years.
The Carolina Times (Durham, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Nov. 28, 1981, edition 1
8
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75