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VOL. VIII, NO. 5
APACE WITH THE PACEMAKER
MAY, 1965
President Lauds Employees
At Stockholders Meeting
“Piedmont Airlines experi
enced a 25 per cent growth in
1964 as compared to a 12 per
cent growtli for the whole in
dustry,” announced President
T. H. Davis at the twenty-fourth
annual stockholder’s meeting of
Piedmont Aviation, Inc., held
April 21 in Winston-Salem, N. C.
A record 85 per cent of shares
of stock outstanding were rep
resented either in person or by
proxy. All of the present Direc
tors were re-elected. They are
Glenn E. Anderson, E. L. Davis,
Jr., M. F. Fare, Charles E. Nor
fleet, C. G. Brown, T. H. Davis,
Ralph W. Gardner, R. S. North-
ington, Frank Dowd, E. L. Davis,
Bowman Gray, H. K. Saunders,
and John F. Watlington, Jr. At
the meeting of the Board, follow
ing the stockholders meeting, all
Piedmont officers were re
elected.
In discussing the financial sit
uation of Piedmont Aviation,
Inc., Davis stated that the com
pany is now in a very strong
position. Working capital more
than doubled over the last year
, and earnings per share of com
Directors Declare
Second Cash Dividend
For the second time in the
company’s history, the directors
of Piedmont Aviation, Inc., have
declared a 10 cent cash dividend
on shares of common stock. The
dividend, voted in the director’s
meeting held April 21, is payable
to the 4,800 stockholders of rec
ord May 10.
With 1,764,612 shares of stock
outstanding, as of that date, this
represents an expenditure of
$176,461.
The first cash dividend was
declared on October 21, 1964,
payable to stockholders of rec
ord November 10. It is the inten
tion of the Board to consider
paying cash dividends on a semi
annual basis.
mon stock increased from 44
cents in 1963 to 72 c(?nts in 1964.
This is notwithstanding an in
crease of 247,252 shares of stock
outstanding in 1964.
“In addition,” continued Mr.
Davis, “we have refinanced, com
bining several loans into one
agreement and eliminating our
government guarantee loans. We
have thereby eliminated restric
tions commensurate with such
loans.”
Mr. Davis praised the employ
ees of the Company, saying,
‘We’re mighty proud of their
ability. The Sales and Traffic
departments have done a splen-
FIRST QUARTER
SHOWS GAINS
Figures for the first quarter
of 1965 show a 112 per cent in
crease in net income over the
same period for last year. Earn
ings for the first quarter amount
ed to $244,210.
During the first quarter of
1965, the airline carried 263,076
passengers as compared to 231,-
265 carried in the same period
last year. This is a 13.76 per cent
increase as compared to a 12.5
per cent increase for the com
bined U. S. domestic airlines’
passenger traffic.
Load factor increased from
46.53 per cent for the first quar
ter in 1964 to 49.70 per cent for
the first quarter in 1965.
April Also Shows Gains
In April, Piedmont Airlines
flew 23,288,966 revenue passen
ger miles, a gain of 22.6 per cent
over last year’s figure of 18,994,-
163. The combined local service
carriers showed a gain of 21.2
per cent, flying 213,862,000 pas
senger miles. Load factor for all
the local service airlines was
49.0 per cent in April of this
year as compared to 46.9 per
cent in April of 1964. Piedmont’s
load factor for the same month
was 57.68 in 1965 as compared to
52.26 a year ago.
did job, and operations has car
ried through,, delivering the
goods once the sale has been
made.”
“We are proud of the indica
tion of station ability and the
enthusiastic competence of all
the people associated with us.”
H. K. Saunders reported for
the airline operations, stating
that on-time performance in
creased substantially during ’64.
He credited the improvement to
the Distance Measuring Equip
ment installed early last year
and to improved airport facili
ties, plus great employee effort.
He also said that operations
should achieve even greater re
liability with the aircraft trans
ponders being placed on the air
craft this year. ,
Saunders noted that Howard
Cartwright and his maintenance
personnel have “done a fine job
in maintenance,” making chan
ges which have increased the
number of flying hours between
periodic inspections and major
overhauls.
R. S. Northington reported
that the Fixed Base division had
a profitable year. Both Central
Piedmont Aero and the General
Aviation Divisions won awards
for their sales efforts.
Said Northington, “1965 should
be the best year yet. Sales should
exceed 6V2 million dollars.”
Introduction of more pure jets
and turbo jets into the smaller,
executive type aircraft line will
bring progress to this division
of the company, he stated.
In looking to the future. Pres
ident Davis discussed new routes
and new equipment. He said that
CAB priorities do not indicate
that new route applications will
be considered anytime before
the end of 1965 or early in 1966.
First on the CAB’s calendar
are cases involving rates, inter
national air travel, route suspen
sions, and certification renewals.
On the subject of new aircraft,
Mr. Davis remarked, “We are of
(Continued on Page Two)
m
■
Patricia Bocock demonstrates the new automatic coffee machine soon
to be installed on all of Piedmont's planes. The machine brews a pot
of fresh coffee in exactly one minute.
Johnson Nominates
New CAB Members
President Johnson recently
nominated two members to the
Civil Aeronautics Board (CAB):
John G. Adams, to replace re
tiring member Chan Gurney, and
Charles S. Murphy to replace
Alan S. Boyd as member and
Chairman.
At the same time, the Presi
dent announced his intention to
nominate Mr. Boyd as Under
secretary of Commerce for
Transportation.
Boyd has been a member of
the CAB since November, 1959,
and has been chairman since
January 1, 1963.
The new nominee, Charles S.
Murphy, began his government
career in 1934 as a law assistant
in the Office of the United
States Legislative Counsel, serv
ing in that position for two
years. For the next 11 years, he
was assistant legislative counsel
to the Senate. His duties were
to help the Senators and sena
torial committees draft bills and
reports and to advise them on
legal matters.
In 1947 he became adminis
trative assistant to President
Truman. In 1950 Mr. Murphy
was named Special Counsel to
the President in which position
he was the chief staff assistant
for legislation.
From 1953 to 1961, Mr.’ Mur
phy practiced law as a member
of the Washington, D. C., firm
of Morison, Murphy, Clapp and
Abrams. He was admitted to the
Supreme Court bar in 1944, and
to the District of Columbia bar
in 1947. From 1957-60, he was
counsel to the Democratic Na
tional Advisory Council.
Mr. Murphy was born August
20, 1909, in Wallace, N. C. He re
ceived an A.B. degree from Duke
University at Durham, N. C., in
1931 and an LL.B. in 1934. He
(ContlniH^d on Six)
Boys Offered Japanese Tour
(Japan Air Lines Photo)
Children on a school excursion explore the Nizo Castle in Kyoto, Japan.
Sons of Piedmont employees
have an opportunity to compete
for a trip to Japan this summer
as guests of a Japanese tour op
erator who wishes to repay hos
pitality he experienced in the
United States as a youth.
The Kunio Travel Grant, spon
sored by the Kunio Travel Corp
oration in cooperation with Ja
pan Air Lines, will enable three
young men to see all facets of
Japanese life on a person-to-per-
son level.
Kunio Fukuyama, president of
the Tokyo-based tour company,
said the competition for the all-
inclusive trips is open to all
boys, 17-20 years of age, who are
dependent sons of full-time
line personnel in the
States.
To encourage Mr. Fukuyama’s
educational project, Japan Air
Lines is offering free passes for
trans-Pacific flights to the win
ners and is assisting in admin
istration of the grant.
air-
United
The trips will begin the mid
dle of August. The boys’ pro
gram will include such varied
highlights as a stay in one of
Tokyo’s most luxurious hotels
and accommodation in a Japan-
ese-style inn frequented by stu
dents. One week of the tour will
be spent in Tokyo and another
in the ancient capital of Kyoto.
In the remaining week the
boys will travel in areas of
southern Japan not often visited
by tourists.
To compete for the trips, each
boy must write a 200-word essay
on why he wishes to visit Japan
and send it to Kunio Travel
Grant, in care of Japan Air
Lines, 240 Stockton Street, San
Francisco. Essays should be
typed, double spaced, or printed.
Winners will be selected on the
basis of originality and sinceri
ty. Essays must be received by
JAL by June 30, 1965, accom
panied by the applicant’s name,
age, home address and name of
his school. Applicants should
also state the name of the parent
employed by an airline, the
name of the airline, the parent’s
position and place of employ
ment.
Winners will be notified July
15.
Two weeks after their return
to the United States each win
ner will be expected to prepare
a 1000-word report about his trip
on a specific subject which he
will determine in discussions
with Mr. Fukuyama.
Mr. Fukuyama developed his
fondness for Americans more
than ten years ago when he came
here as a Fulbright scholar.
After his studies he traveled
throughout the country on a
shoe-string budget.
“Once on my cross-country
trip, I went into a snack bar and
ordered coffee,” he recalls. “I
guess I looked kind of hungry
because the waiter brought me
a piece of pie, too, but charged
me only for the coffee. I’ll never
forget that.” The travel grants
were conceived as a way to recip
rocate many such kindnesses.