Do something nice
for your future
Tomorrow won’t take care of itself. And,
deep down, you know that. So you’d better do
something about your future money needs
today.
For example, your income tax refund is
ready made savings — ready to be tucked
away as a nice lump-sum payment on to
morrow. It’s probably what you’ve had in
mind all along, isn’t it ? Getting this far with
out missing the money, and then making sort
of a giant step toward whatever it is you’re
saving for.
One of the easiest ways to make sure you
really do it is to take your refund check and
turn it into a Series E Savings Bond, or
maybe several Bonds!
E Bonds now earn 6 per cent interest, com
pounded semiannually, when held to maturity
of only five years (41/2% the first year). And
your money is guaranteed safe.
Now, during the Company Bond Campaign,
is a perfect time to sign up to save through
payroll deduction. Your canvasser will be
around to talk to you about buying bonds
within the next couple of days.
Join the payroll savings plan. Then, when
the future arrives, you’ll be better fixed to
face it.
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Savings Bond
co-chairmen
Don Edmondson, right,
and Dick James
get some help
promoting the
campaign from
Faye Latham, left,
and Claudette Burns.
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Re.
Traffic and financial records set during first four months
For the first time since 1967 Piedmont earned
a profit during the first quarter of the year.
January, February and March are tradition
ally the lowest traffic generating months of
the year. But for these first three months of
1974 our airline passenger traffic was 15 per
cent greater than during the comparable period
last year. General Aviation revenues were also
up substantially. For the first quarter the Com
pany earned a profit of $223,578 (9(/; per share)
as compared to a loss of $223,578 (69per
share) last year.
Total gross revenues were up a whopping
29.5 per cent, from $26,396,087 in the first
quarter of 1973 to $34,186,544 this year.
The record first quarter results continued on
into April. During April the airline carried
more passengers than in any other month in
the Company’s history. A record 337,575 pas
sengers were boarded. The previous all time
high had been set only a month earlier when
March enplanements totaled 336,712. A new
record day, for boardings, was established on
Easter Monday when 14,451 passengers were
enplaned.
During the first four months of this year
Piedmont has carried 1,211,410 passengers, an
increase of 14.71 per cent over the same period
in 1973.
Revenue passenger miles for January, Febru
ary, March and April, 1974 are up 14.58 per
cent to 338,054,722 over the same period last
year.
The passenger load factor for January
through April this year was up eight points
to 54.50 per cent as compared to 46.29 per cent
for the same four months of 1973.
Following the annual meeting of Piedmont’s
stockholders in April the Board of Directors
met and declared a cash dividend of 10/ per
share on the Company’s common stock. Pay
able May 31 to stockholders of record May 14,
this is the tenth cash dividend to be paid by
Piedmont. The first was in 1964. There have
also been four 10 per cent stock dividends. The
directors also agreed to resume their previous
policy of considering payment of cash dividends
on a semi-annual basis. A complete transcript
of the stockholders meeting can be found on
pages five and six.
Other good news for Piedmont came with
the latest report from the Civil Aeronautics
Board’s Office of Consumer Affairs. Among the
regional airlines Piedmont had the best record
or lowest complaint rate per 100,000 enplane
ments for the month of March.
piiamonim
January/February/March, 1974
Vol. XXV, No. 1
New telephone network will reach all stations
IM £?.."■
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Dialnet should be in full operation by early June.
Dialnet. It sounds like some sort of soap
and hair spray concoction. And while it will
clean-up and control Piedmont’s calls, there is
a bit more technology and mechanization in
volved.
The new dial telephone network will extend
to all Piedmont stations. It is scheduled for
completion by June sixth though some points
may be in use by May 22. Dialnet will replace
the long-line and jet-line circuits.
As the map, at left, shows the new system
will have dial centers at Winston-Salem, Colum
bia, Roanoke, Cincinnati and Washington. Each
city will be attached to one of these dial centers
although some points will share lines. As traffic
volumes increase the circuits can be redesigned
accordingly.
The FX lines will be retained and should be
used as much as possible for communicating
between the stations and the general office.
Dispatch has the first priority in using dialnet
for co-ordination of daily flight operations.
Other guidelines for using dialnet are included
with the dialnet station directories which have
been issued. Additional copies are available
from Communications, INT-ZY.