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THURSDaV, FEBRUARY a 1979

LETTERS TO THE

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PAGE 9

EDITOR (continued from pegs 2) and will continue. In aome of theee treat it it only prohibition by die state which prevents expansion of service. The unsubddized independent lines on Sooth Orange Avenue hav* long sought to extend servia but are prevented by the State bureaucracy. Secondly there are thoee areas which have a modest need. Theee needs would be met if companies were allowed to adjust schedules and routes, to use smaller busmt, to adjust fares, to use part-time drivers, etc. Here state overregulation works to die disadvantage of the citizens. And finally there are thos heavily subsidized routes when almost no one rides. One of these busms goes by my office regularly. Often it is completely empty. Occasionally there are one or two riders. Once last year I saw 5 riders - never more. One diudders at the unnecessary pohition and waste of money. In New Jersey there are over 200 bus companies of which only 22 received subsidfcs last year. It’s time to let all the bus companies compete fairly and without subsidies to aome. Let the companies concentrate on their business while the state turns its attention to more important matters. [ But in fairness the bus companies must also be freed from excessive regulations so they are flexible to take necessary adjustments. After the disaster of too much regulations, one is tempted to suggest that • period of no regulations, and hence maximum opportunity for innovation, is the sounded plan

of aD.

I would like to dose by two reminders. One is the AMTRAK experiment where problems and costs exceeded all expectations. The other is the airline industry where deregulation has brought major benefits to the dtizens These both suggest that the time is ripe for a bold new move in New Jersey - an end of bus subsidies and regulation i - an opening of the industry to the vigor and innovation of free markets. Sincerely yours, C.A. Haverty

WHERE YOU SAVE

DOES MAKE A DIFFERENCE r & Because we have you in mind, Union Trust is pleased to announce that effective Feb. 1st, 1979, interest on all new and renewed Certificates of De-

posits will be compounded daily.

Further, effective Mar. 1st, 1979, all interest on new or existing passbook savings accounts will be

compounded daily as well. .

Stop in at any of our five convenient offices and •have the manager explain these advantages to you.

THI CLUf TO EXTRA IARIIIIICS IS TO BANK WITH US. SHORT TERM INVEST/mif RIAN 6 Month Certificates (minimum deposit $10,000)

THIS WEEK RATE IS.

930

ANNUAL EFFECTIVE YIELD IS...

RATE IS EFFECTIVE FE& 8 THRU FER 14 AS DETERMINED BY THE WEEKLY AUCTION AVERAGE FOR 6 MONTH TREASURY BILLS. THIS RATE REMAINS CONSTANT TO MATURITY ONCE CERTIFICATE IS ISSUED. INTEREST IS COMPOUNDED DAILY AND PAYABLE AT MATURITY.

LONG TERM INVESTMENT PLANS

TERM

MINIMUM DEPOSIT

RATE

Effective Yield

90 days — 1 year

S1000

5.50

5.65

1 year — 2 H years

$1000

6.00

Eii

2 » years — 4 years

$1000

6.50

6.72 /

4 years

$1000

7,25

7.52

6 years

$1000

7.50

7.79

8 years

$1000

7.75

S.06 ,

GARDEN CLUB FLOWER SHOW

At the Jenuaiy meeting of the Women’e Community QuL of Cepe May held at the Hetorlcal Community Center. Cepe May, the Gerden Deputment exhibited l flower rhow

Interest compounded daily and payable quarterly, semi-annually or annually. On all short and long-term Investment plans. Federal regulations require substantial penalty on all certificates for early withdrawal before maturity.

featuring elaborate arrangements of winter evergreent. The Flower Show theme at the February meeting will be “I Love You” featuring miniature arrangements created for thfc

dispUy.

Individual accounts are Federally insured to $40,000

UNION TRUST COMPANY WILDWOOD, NEW JERSEY

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S)N PACIfK AVL, WHDWOM MM PACIfK AVL, WIUW000 OKT

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