Page Six One Of Dean Trabue To Give Talk At Atlantic City , Marion R. Trabue, dean of the >1 of Education, will act as chair* of one of the section meetings (liege teachers at the American Association of School Administration conference at Atlantic City from Thursday. I ,, el)riiary --1, to Friday, March Others from the School of Educa tion who will attend the conference are Or. Palmer C. Weaver, Dr. Clar ence 0. Williams, Dr.'Arthur S, Hur rell, Or. Charles C. Peters, and Dr. Frank Jl. Kons. Miss Charlotte E. Ray, Dean of Women, Miss Ellen 11. Burkholder, ami Miss Betty Bell left State Col lege Wednesday for Hnddon Hall, Atlantic City, where they will attend a deans’ convention. New Spring Suit Styles A VARIED ASSORT 31 ENT OF THE NEW EST AND FINEST WOOLENS, -MADE IN DIS TINCTIVE COLORS AND PATTERNS FROM WHICH YOU CAN 'MAKE YOUR SELECTION AND HAVE YOUR SUIT TAILORED TO INDIVIDUALITY IN FIT AND FASHION. . I FROM $20.50 MEN'S APPAREL 110 South Allen Street, THE BEST ADVERTISEMENT IS A RECOMMENDATION FROM THOSE WITH WHOM YOU DO BUSINESS HENRY E. BATON, Inc. GENERAL CONSTRUCTION Manufacturing Plants tote Authority’s $5,000,000 Program Second Only To Finance Building Started At State Capital Last November 10 When Coventor George 11. Earle turns tite first shovelful of earth at the clliciul gruouwl-brenking ceremonies in Recreation hall this afternoon, he will launch not only the greatest building program in the College’s his tory hut also one of the General SUite Authority's biggest undertakings among the 79 projects comprising its ?(J5,U00,U00 construction program. With a loin) or sr»,<K>o,ooo allocated to the College last August, the pro gram here is second only to the state government’s new scven-million-dollar Finance building at Harrisburg, uu-‘ dor way since last November 10. Authority Created In 11)35 . •. Today’s ceremonies also will murk the completion of another chapter in the history of the State Authority, which has barged through a maze of legislative and judicial somersaults to become one of the most important fin ancial organs in the state govern- 1713 Sansom Street, Philadelphia, Pa. mental setup. Thu Authority was created as a public coriwration aiul governmental instrumentality by the statu legisla lure on June 28, 1980, in order to provide a means whereby the com monwealth could avail itself of the Federal Emergency Administration of Public "Works funds, despite the constitutional interdiction on the state'iy borowing capacity. Declared Unconstitutional With the Authority declared un constitutional by' the State Supreme Court scon afterward, the state leg islature voted to place a $12,000,000 bond issue on the ballot in a state wide referendum to finance the gram. Mea n w h Me, Attorney-General Charles G. Margiotli was granted his petition. for a rehearing before the Court.. Doubtful of Court sanction, however, the legislature voted the re ferondum proposal a second time, as required by' the state's constitution. On February 4 last year, after re view of the act, Justice Kephart handed down the Court’s opinion, re versing its original stand and de claring that “the General State Au thority Act and the undertakings in pursuance of its are constitutional.” Purposes of Authority Two months later—on May 18 —the act was amended by the legislature, clarifying the purposes of the Au thority: "The Authority'is created for tne purpose of constructing, improv ing, maintaining, and operating sewers, sewer systems, and sewage treatment works for state institu tions of every kind and character (heretofore or hereafter construct ed), public buildings for the use of the commonwealth, state arsen als, armories, and military re serves, state airports and landing fields, state institutions of every kind and character (heretofore and PRESSER BUILDING THE' PENN STATE COLLEGIAN - reatest Undertakings Launched Today Old Main, With And Without Chimes ‘ Although duly one wing of the original "Old Main” (above) had been.built when Dr. Evan Pugh, 31-year-old chemist, became the first president of what is now the Pennsylvania State College in 1859, the building was completed in its entirety five years later, when the institution was officially renamed to the Agricultural Col lege of Pennsylvania and desig nated by the slate legislature as the land-great college of Pennsyl vania. Twice remedied, the build ing finally* was rebuilt with the same stone in. 11)25) into the pres ent structure (left). hereafter constructed), additions and improvements to land grant colleges, state highways, and bridg es, tunnels, and traffic circles on state highways, swimming pools, and lakes on state land, and dams and improvements to river em bankments' (any and all of the foregoing being herein called ‘pro jects’) . . .**■ '• Bond Issue Opposed Meanwhile, with the act’s consti tutionality established by the Court, the 942,000,000 bond issue became meaningless, inasmuch as the Au thority was given tho power to man ipulate state .retirement funds in such a way as to save an estimated $12,Ooi),000 for the'treasury. Voted by two legislatures, howcv Institutional Buildings er, the question-could not be erased off the ballot. Consequently, the ad ministration -advocated its inter-dc partmental savings plan and opposed, the bond issue. Minus any organized ■backing, tlie issue was snowed under at the polls. v J2xisting Setup Under the existing setup, the work of the Authority is being financed by approximately 945,000,000 worth of special Authority bonds, plus an additional federal outlay of 000 to 920,000,000. The bonds, or iginally slated to be sold to the fed eral government at 4 per cent inter est, hove been sold to the teachers' and employees’ retirement funds. It is.in this shift of sales that the ad ministration estimates a 912,000,000 saving to the commonwealth. Under the * law, the retirement funds must earn 4 per cent on their investments, with the state required to supply any deficiency. Approxi mately $35,000,000 of' these funds are invested in government and munici pal bonds, yielding an average of 2.8 per cent interest and, leaving a 1.2 per cent deficiency for the state to niakc up. Savings Realized Thus, it is pointed out, with the) >:a'e of the bonds to the two retire-j ment funds at the same rate as -was j scheduled under, the federal-govorn- ‘ merit plan means no loss to the Au thority, but on the contrary, leaves, the taxpaying public 912,000,000 richer, inasmuch as the retirement funds are earning their required in terest without any assistance from the state’s general fund. The Authority receives an outright grant of 9t0,b00,000 from the feder al government, plus a provisional grant of another $10,000,000, c)m ditioned upon the Authority’s use of certified relief labor,, the costs of which arc meant in a ratio of $1,331-3 to every dollar spent by the Authority. Executive director of thp Author ity is Col. Augustine 'S: .laneway, with Joseph A. Cunningham 'as ad ministrative assistant and Janies B. ■ Welcome Governor We Appreciate Your Efforts HILAND SHOP Launderers .. Phone 3171 - Cleaners We Heartily Welcome Gov. Earle . and His Staff to State College • CASSIDY BARBER SHOP 210 S. AM..EN ST. PHONE 3494 Special Work Saturday, February 26, 1938 Kelly, assistant executive director
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