Newspapers / The Pilot (Southern Pines, … / May 24, 1946, edition 1 / Page 3
Part of The Pilot (Southern Pines, 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
'^51 THE PILOT. Southern Pin^, North Carolina Page Three Edwards and Aberdeen Business Men Assist Maternal Welfare Work Moore County Welfare circles of Aberdeen were heartened by the generous response of business men there, to the plea for help, in getting better clinic rooms for the monthly pre-natal clinics. The Woman’s Club, which is sponsoring the work under the leadership of Mrs. J. Talbot John son, one of the vice-chairmen of the county committee, had set aside a monthly sum for the clin ic, but were hard put to it to raise the balance necessary. Hearing of the need, J. B. Edwards of Aber deen offered to raise the extra amount among business friends, and came through in a very few days. Great were the expressions of gratitude both from the local committee and from Mrs. McLeod and the other nurses of .the Health Department, whose -Work in the present building, where conditions are crowded and the out-door stairs unsafe, was car ried on under great difficulties. “Generous”, “wonderfully kind”, “such a real and practical help!” were among the many comments heard on receipt of the,good news that the new rooms would be available through the business men’s help. Cigarette Prices Are Up But Not On Single Packs The increase in cigarette prices does not affect “over the counter” sales of single packages. OPA pointed out that the half-a-cent boost per pack is effective only on over-counter sales of two or more . These retail price increases re sult from increases granted cig arette manufacturers because of rising production costs, OPA said. Retail prices on the “economy” brands ■— Avalons, Marvels, Twenty Grands and Wings — now ceiling-priced at 13 cents a package, two packs for 25 cents, are increased to a straight 13 cent per pack, OPA said, adding that state taxes are not included in setting cigarette ceilings. “Popular” brands — including Camels, Chesterfields,Lucky Str ikes, Raleighs and all other cigar ettes not specifically named —re tain present ceilings on single pack over-counter sales, but the price jump applies on sales of two packs or more. Cigarettes sold through auto matic vending machines are in creased one cent per package, since data submitted by vending machine operators shows that their absorption of manufactur er’s increase would drop their profits below pre-war base levels. NIAGARA Mrs. T. D. Mullis and sons re turned Friday from a week’s visit to her parents, Mr. and Mrs. H. C. Brogden in Mount Olive. Miss Gladys Snipes and' Jane spent Friday shopping in Raleigh. Bruce Garner spent the week end in Norfolk, Va. Mr. and Mrs. Harold Tucker and family, also Miss Ola Cam eron and Mrs. Alton Williams and sons of Sanford visited Mr. and Mrs. D. D. Cameron Sunday. Mrs. C. E. Covington spent Monday in Raleigh with Mr. Cov ington who is a patient at Rex Hospital. FOR RESULTS USE THE PI LOT’S CLASSIFIED COLUMN. WHITE OR GOLD LABEL 86 Proof Imporfed by Munson G. Shaw Co. New York City C. P. & L. reports to you To Our Customers and Friends: The informatoin shown below is token f^xn on*. Annual Report for 1945, a copy of wl^oli bat beeil mailed to each of the 6,780 holders of tne Company < preferred stock. The most important occurrence in 1945 was 1% end of the war. Inasmuch as the industries served by the Company were predominantly of the peacetime variety, the Company is faced with no major problem of reconversion or readjustment. Its property is in good condition in spite of the difficulties experienced in obtaining materials and manpower during the war year^. Following the removal of restrictions on the con struction of lines after the end of the war, the Com pany began a rural electrification program which ultimately will result in the construction of some 3,300 miles of lines to serve approximately 15,000 new rural customers. The largest item in the 1946 construction budget is the appropriation of $3,500,000 for the portion of this program expected to be com pleted during the year. It should be of interest to our customers to know • that no curtailment of the Company's service hc« been necessqry os a result of the coal strike. Since the Compony^s generating facilities are predominant ly hydro, it has been able to meet all the demands of its customers, and has supplied a substantial amount of power to a neighboring company. The Company recognizes its responsibilities to its customers, its employees, and its security holders. It supplies first-class service to its customers at low cost, and it tries to induce them to make full use of its service facilities. It endeavors to promote the welfare of its employees by providing security and stability of employment under good working condi tions. It is an integral part of every community in which it does business, striving at all times to be a good citizen, and by its tax payments substantially supporting the many public institutions so essential to health, education, and well-being of all citizens. Respectfully submitted. L. V. SUTTON, President. Any Interested person In the territory served by the Company may obtain a copy of this Annual Eeport so long as the supply is available* by writing to the General Offices of ihe Company in Ra leigh* N. C. INCOME DUP EXPENSES DURING 1945 In 19J3. Iho Companv Tccei\cd fiom residential eustomers Re\enues fiom rural customers amounted to 7.2 per cent Taxes appUoabl* to electric and motor coach operations Wages and salaries charged to operations represented 11.8 22 7 pur cent of its total re\enuLS. of tho total. for 1945 amounted to 29.8 per cent of all revenues. per cent of revenues. This amount does not Include wages and salaries charged to construction. Revenues from stores* offices* service stations* restaurantSf military camps* were 17.9 per cent. Manufacturing plants and Industries furnished the lai,:o-st share—31,1 per cent. Eight per cent of all revenues was set aside for replace ment of Vrorn-out or obsolete eciulpirtent. Although the Company is predominantly hydro It spent for fuel at its steam-driven generating stations, for mate rials and supplies, and for other operating expenses* 18.0 per cent of revenues. Municipal pumping* street lighting and traffic signals accounted for 2.7 per cent of total revenues. Power sold at wholesale to other public utilities amourted to 14.9 per cent. Revenues from miscellaneous sources, including non-ooer- ating Income* were .7 per cent. SUMMARY After providing for payment of all expenses, the Company paid dividends of 5.0 per cent of reve nues, to preferred stockholders, and 3.2 per cent of revenues, to common stockholders as wages on money put to work in the business. The remaining 4.1 per cent of revenues, was retained as an addition to the Revenues from operating the bus system in 2.8 per cent. o 10.3 per Interest on bonds and other deductions took 9.8 ner cc-'-t of revenues. I AXES RATES The Fmum 'ihe Company’s 1945 tax bill was $5,575,374. De- tiiir's from revenues for taxes were $3,555,108, or equivalent of approximately 30 cents out of every liar o{ its operating revenues. Approximately two- irds of the Company’s 1945 tax bill will be paid i the Federal Government. Included in Federal taxes is the so-called excess profits taE. This was an emergency wartime tax .evied on i2X arbitrary basis and assigned a most .misleading caption in so far as it applied to this Company, since the Company had no excessive war time profits. The average price paid for electric service by household customers throughout the nation in 1945 was 25 per cent higher than the average price of 2.7 cents per kilowatt-hour paid to the Company for household electricity. Electricity is one of the very few items that did NOT INCREASE in price during the war years. Today household customers served by the Company can use, on the average, more than THREE TIMES as much electricity as they used twenty years ago for the SAME AMOUNT OF MONEV. An appropriation of $3,500,000, to be spent for mral electrification, is the largest item in the Com- glmy’s 1946 construction budget of $5,993,866. Upon the removal of restrictions on the con- Strumon of lines in the fall of 1945, the Comply began a new rural electrification program which, when completed, will result in an expenditure of more Iban $4,000,000 and in the construction of 3,300 miles «E rural lines to serve more than 15,000 new rural customers. It Is expected that the Company will be able to complete at least three-fourths of this pro gram during 1946. On this basis, the Company will he serving 54,000 rural customers from approximately 9,200 miles of rural lines. Savings to the Company by the elimination of ihe excess profits tax wO substantially less than the amount oB such tax, since that portion of reve nues which has been subject to excess profits tax will now be subject to Federal normal income tax ijid Federal surtax. Even with the reduction In taxes resulting from the revision of the Federal yievenue Act, the proportion of Company revenues t^t will be absorbed by taxes in 1946 be sub stantially higher than for most other types of Industry. In view of the fact that rates charged by biisi- ness-managed companies must pay for all the costs of doing business. Including interest on borrowed money and taxes, Carolina Power ft Ught Company has made a noteworthy record In keeping the prioe of electricity DOWN whlM prlcee generally an going UP. The construction budget as approved, containing nearly 90 different items. Includes funds for high- voltage transmission lines, substations, transformers, substation Improvement and enlargement, additional equipment for protection against lightning, and plant improvement Provision was made for the extension of electric lines in towns and cities throughout the system to add about 5,000 new urban customers. Funds also were approved for the purchase of new busses, trucks, and automobiles. .The Company has had busses on order for several years^ but uose available were diverted tib detrase areaik -f (CABOLINA POWER a USHT COmI^hV % BOARD OF DIRECTORS: It a CARPENTER Assistant Secretary and Assistant Treasurer Xalelsh, North Carolina X. LEI ELLIS PMsldant, Coca-Cola : CrOfHpmy 4ft AshavtUo. Mocth CaroUm. JAMES L. McNAm bdustdalM Laiutabure^ Neift l J. L. COKER President. Sonoco Produeti i Conunaiv 1 BartsvlUe, South Caroltse i a M. HANES President, Wachovia Bsall and Thist Companjr Wlniton-Salem, North Caroline L, V. SUTPOII President and General Manaser Ralelsb, Carolina «. A CUBIT X. A. JONES Heewletepitenl o| TMaanheiw ciMabtMtfti a S. WALTERS VleoPMiidant w^"»T*T Woatere Division AlhavOhb north Carolina W. H. Vici R. ALEXANDER WEBB . Tho M. a Bum 4f%f I SlalXsIh )
The Pilot (Southern Pines, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
May 24, 1946, edition 1
3
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75