Duke University Iilrary
Newspaper, Eepartiaefct
Durham 'N. C. 27706
11-26
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EDITOR'S NOTE r This is the first in a series of
articles dealing with Soul City, North Carolina and
the controversy which has surrounded the project
since its beginning.
In an 84-page document dated December 18, 1975
(and not yet generally distributed), THE
CAROLINA TIMES has learned that the new and
much-criticized community of Soul City in Warren
County stand vindicated beyond a shadow of a
doubt.
Charges and
counter-charges have
persisted since its
inception, with perhaps
the most vocal and
vehement coming from
North Carolina
Congressmen Jesse Helms
and L. H. Fountain.
It was at the formal
request of Fountain on
March 5, 1975 and the
subsequent agreeemnt
reached with his office and
the United State General
Accounting Office (GAO)
on March 12, 1975 that an
indepth examination of
the financing and
operations of Soul City
was launched.
The GAO obtained
information on the
project's history, current
status, and sources and
amounts of Federal, State,
and local financial aid
going directly to Soul City
or to the surrounding
municipalties for the
benefit of Soul City.
Examinations were also
made of the various
allegatipns relating-49; the
project and tested the
allow ability of
expenditures of four Soul
City organizations.
HISTORY AND STATUS
Quoting directly from
the Comptroller General's
report, ' Soul City .... is
one of 15 active new
community developments
authorized by Title VII of
the Housing and Urban
Development Act of 1970.
The Soul City project was
first announced in January
of 1969 by Mr. Floyd B.
McKissick, president of
Floyd B. McKissick
Enterprises, Inc. A
preapplication for a Fderal
loan guarantee was
submitted to the
Department of Housing
and Urban Development
(HUD) on April, 1969,
and the final application
was submitted on
February 24, 1971. HUD' s
offer of commitment for a
loan guarantee was granted
in June 1972.
The project agreement,
a contract with HUD,
incorporates all the legal,
financial, and program
arrangements for the new
town development, and
provided that the
developer could issue up
to $14 million of
debentures which the
government would
guarantee.
"Soul City's
development using
federallly guaranteed
funds began in March
1974, when The' Soul City
Company, the developer,
sold $5 million of
debentures," according to
the report.
w- The rep.or continues,
"There are five other
fe dera lly assisted
organizations at Soul City
- the Warren Regional
Planning Corporation
(WRPC); the Soul City
Foundation, Inc.; Health
Co. Inc.; the Soul City
Utilities Company; and the
Soul City Sanitary
District. Other major
organizations at Soul City
are Floyd B. McKissick
Enterprises, Inc.,
McKissick Soul City
Associates, and the
Madison and McKissick
Development Company,
Inc."
(See SOUL CITY, Page 1 1 )
Issues In Cacpdgn 76 Topic For
Croaon Cg-jso Meat January 20
At a Common
Cause-Durham meeting on
Jan. 20 at 7:30 p.m. issues
in Campaign '76 will be
discussed by Jerry
Hancock, state chairman
of Common Cause.
The . meeting will be
held at the Durham
YWCA, 515 W. Chapel Hill
St., at Gregson. All
interested persons are
invited and the more than
300 Durham members are
urged to attend and
participate.
Organization of the
Durham chapter will be
explained by John
Summerhays, coordinator,
and the role of the
Durham group in the state
program.
Fact sheets on all
Durham state legislators
will be available for study.
The fact sheets are
complete records of
performance in the last
state legislature. Each
covers party affiliation,
terms served, occupation,
home and business
adTress, committees
servro, percentage of votes
won in the last election,
campaign finance report,
bills sponsored and the
stand taken on all bills
backed by Common
Cause.
?' '
laeat come from exposure. If you're in the
rain long enough, you're bound to get good
and wet. Melanie Kthaae
THIS PAPER CONTAINS
VOLUME 54 NUMBER 3
DURHAM, NORTH CAROLINA SATURDAY, JANUARY 17, 1976
PRICE: 20 CENTS
UYUAL SAVINGS, AND
LOAN
SHAREHOLDER
PAP
LARGEST
Savings
dividends
IN HISTORY OF ASSOCIATION
Increase
In Spile Of
Recession
Approximately 100
enthusiastic persons
including about ten
children, attended the
annual Shareholders
Meeting of the Mutual
Savings, and Loan
Association here Tuesday
evening. W. J. Kennedy,
Jr.. Chairman of the Board
of Directors, presided.
J. S. Stewart, in the
President's Annual Report,
said that "although the
nation was faced with the
longest and most severe
postwar recession and
continuing inflation, 1975
had been a fairly good
year for the association."
''Savings deposits,
which had slowed during
the latter months of 1974,
picked up considerably " .
reported. "At the close of
1975, savings balances at
Mutual Savings amounted
to $1 1,134,960. This
compared to $10,558,197
at the close of the previous
year and represented an
increase in savings
accounts in the amount of
$576,676."
j-jjjy
s f
Supreme Court Jo Decide
On Wilmington 10 Appeal
PRESIDENT STEWART ADDRESSES SHAREHOLDERS
ft VtoA v
" If
' mm jam
J. C. Smith U.
Gets 10-Year
Accreditation
Johnson C. Smith
University has successfully
completed its Institutional
Self-Study and has
received official
notification reaffirming its
accreditation, according to
a statement released by
Dr. Wilbert Greenfield,
president of the 109 year
old institution. The
re-accreditation of Smith
follows an eighteen month
self-study program and an
on-site v isitation
conducted last spring by a
team representing the
Southern Association of
Colleges and Schools. At
, its annual meeting held in
December, of 1975, the
College Delegate Assembly
received the Smith report,
and recommended the
accreditation. The
recommendation was
acted upon and the
reaffirmation of
accreditation was declared
valid for the next ten
years.
Mutual Savings paid it's
savers $636,695 in
dividends during 1975, the
largest payment in the
history of the Associaiton.
Members of the
association elected to serve
on the Board of Directors
for the year 1976 are: F.
V. Allison, Jr., R. E.
Dawson, J. W. Goodloe, J.
I. Henderson, William
Jones, W. J. Kennedy, Jr.,
A. T. Spaulding, C. C.
Spaulding, Jr., J. S.
Stewart, Josephine S.
Strayhorn, J. II. Wheeler,
and N. B. White.
At its Board meeting on
Wednesday morning, W. J.
Kennedy, Jr., yas elected
Chairman of the Board, J.
S. Stewart, President; F.
V. Allison, Jr., Vice
President-Secretary; J. W.
Goodloe, Vice President,
A. T. Spaulding,, Vice
President; Mrs. Josephine
Strayhorn, Treasurer-Asst.
Secretary; Mrs. Annie A.
Johnson, Assistant
Secretary; and staff: Mrs.
Margaret H. Davis, Misses
Valeria J. Jarman, Esther
Faye Pegram and Ruth E.
McNeill.
Special recognition and
congratulations were paid
to Mrs. Annie M. Johnson
for receiving the degree of
Master of Science in
Business Administration
from North Carolina
Central University last
May.
President Stewart
reported that assets of
Mutual Savings as of the
close of business on
December 31 stood at
$13,807,165.67.
Commenting on the
prospects for 1976,
PRESIDENT AND STAFF,
Mutual Savings and Loan Association, pose for photographer at the Annual Shareholders meeting
Tuesday night. Left to right are: Mrs. Annie Johnson, Miss Ruth McNeill, John S. Stewart, President;
Miss Esther Faye Pegram and Mrs. Margaret Davis. Not shown. Miss Valeria Jarman.
Stewart said "most
economists agree we
should have a sustained
business recovery provided
there are no significant
price increases in the cost
of oil, agriculture and
industrial commodities.
Inflation is also a real
problem and must be held
in check if we are to have
any substantial recovery.'
He said further that "due
to the continuing
economic uncertainties,
your institution (MS & L)
is maintaining a very
careful, sound lending
policy. "We do have
confidence in the future,'
Stewart said.
Stewart advised those
thinking about buying or
building a home who are
waiting for mortgage rates
to come down, "to buy
now.'" "Every year", he
said, "it seems the increase
in building costs more
than offset whatever
savings may develop as a
consequence of lower
interest rates. Interest paid
on a home is tax
deductible with both
federal and state, but the
cost is not.
Encouraging and
complimentary remarks
were heard from many of
the shareholders. Mutual
Savings & Loan
Association is completely
computerized with one of
the "finest on-line
computer systems in the
nation,' and the
shareholders liked the
efficiency of operations of
the Association, but chose
not to change the
forty-year tradition,
having hot dogs at the
close of their business
meeting.
WASHINGTON, D. C.
- The Supreme Court
expected . to decide to
consider the appeal of the
Wilmington Ten, Monday,
January 12. The high
court has received
petitions from the "Ten'
to overturn their sentences
totalling 248 years,
handed down in North
Carolina in 1972, and, ' in
all probability", according
to Attorney James
Ferguson, will hear it.
Attorney James
Ferguson, who has been in
charge of the case from its
beginning says, ' with the
amount of public interest
that's been generated
around the case, and the
blatent injustice growing
out of a state conspiracy
against my clients, we are
convinced the high court
recognizes the necessity trf '
hearing our appeal."
The Wilmington Ten
were indicted and
convicted on various
charges of conspiracy after
carrying out an organized,
non-violent protest against
racism in the Wilmington,
North Carolina school
system in 1971.
The group is widely
considered to have been
"railroaded" into jail.
Representative Robert
Kastenmeir (D-Wisconsin),
who chairs the House
Subcommittee on Courts,
Civil Liberties and the
Administration of Justice
has requested information
from both the FBI and the
Treasury Department on
(See WILMINGTON, Page 12)
Black
76 Political
Convention
Plans Set
The National Black
Political Assembly has
completed the format and
schedule for what may be
one of the most significant
national meetings in the
long history of Black
people in America. Some
6,000 delegate -and
observers are expected in
Cincinnati, Ohio for the
Third Bi-Annual National
Black Political
Convention, March 17-21.
-The first convention was
held in Gary, Indiana in
1972. The theme for the
1976 Black Convention is
"Which Way Black
Nation? Towards a 76
Political Strategy' . The
convention will focus on
the building of a mass
based independent Black
political movement for
1976 and beyond.
After preliminary
Convention Committee
meetings and Platform
Hearings on Wednesday.
March 1 7, the Convention
activities will formally
begin on Thursday, March
18, with a Testimonial
Luncheon hosted by the
Cincinnati Chapter of the
National Assembly.
CONGRESSMAN PAREN J. MITCHELL, (D-7-MD.) TO
CALL FOR AN END TO FACTIONALISM IN' BLACK
COMMUNITIES WHEN HE ADDRESSES THE DURHAM
COLLEGE ALUMNI ASSOCIATION'S BANQUET ON
SATURDAY AT THE DOWNTOWNER MOTOR INN AT
5:30 P.M.
Martin Luther King Day
Obsorvod In Salisbury
SALISBURY - "We've
come a long way, Baby,
but we still have a long
way to go" the Rev. Edgar
N. French told an
audience of about 400
persons attending the
observance of Martin
Luther King Day here
Sunday afternoon at Mt.
Zion Baptist Church.
Speaking on the
subject, "Our Unfinished
Task", the former
associate of Dr. King's
who assisted in the
organization of the
Montgomery (Ala.)
Improvement Association
warned members of his
race that they have made
great strides, but the end is
not yet.
'It is imperative,' he
said'that we know who
we, are, where we are, and
where we hope to go if
any transition is to be
possible."
He urged his audience
(See KING, Page 12)
LESTER B.
GRANGER, 79
DIES IN LA.
Lester B. Granger, 79,
retired Executive Director
of the National Urban
League, died Friday
morning, January 9 in
Alexandria, La., following
a lengthy illness.
Granger was the third
man to serve as Executive
Director of the League and
held that position from
1941-61 when he retired
and was succeeded by the
late Whitney M.
Young Services for
Granger were held on
Tuesday, January 13, 10
a.m., at The Riverside
Church - Christ Chapel,
490 Riverside Drive.
OAKLAND. CALIF. - FoMowwf by deputy sjurift former
Black Panther leader Eldrktga Cleaver enters Alameda County Jail
where he wee given a temporary berth lest week. The 40-yeer-ld
Cleever wis brought to Oakland from SanDiago County hi order
to appear at superior court hearing Friday to face charges
stemming from 1968 shootout with Oakland police. UPt :