The White Falcon - 13.05.1961, Blaðsíða 2

2
WHITE FALCON
Saturday, May 13, 1961
Interest Still Accruing
All of the outstanding older Series E savings bonds have been
extended beyond their original maturity dates, and continue to
accrue interest until redeemed. Bonds issued between 1 May 1941
and 31 May 1949 were extended for 10 more years when they
originally matured, and a second 10-year extension was authorized
this March by Secretary of the Treasury Douglas Dillon. Thus,
these early bonds now have an interest-earning life of 30 years.
Bonds issued from 1 June 1949 through 30 April 1957 also
have been extended 10 more years. Their new maturity dates range
between 1 June 1969 through 30 April 1977. Of course, savings
bonds may be redeemed at any time—the extension just allows the
bonds to accrue interest longer.
Few people realize just how much their Series E savings bonds
are really worth today, particularly if their impressions are based
on the bonds they bought during World War II. The first Series
E bonds accumulated interest at the rate of 2.9 percent a year if
held to maturity—10 years after purchased. As mentioned before,
current Series E bonds, bought since 1 June 1959, pay 3% percent
interest if held to maturity—seven years and nine months after
purchase.
Interest rates on Series E bonds have been boosted over the
years, and all the older ones are worth more today than their
original face volue. Consequently, the 10-year redemption tables on
the back of older bonds understate their true value today. For
instance, the $25 bond President Roosevelt bought for $18.75 on
1 May 1941 to inaugurate the Series E savings bond program is
worth $33.63 today. It hqs almost doubled in value over the 20-year
period.
When the Government extended the life of its oldest Series E
savings bonds for another 10 years, it also set their interest rate at
3% percent, compounded semi-annually, for that period. Thus, that
first bond bought by President Roosevelt 20 years ago for $18.75
and which is now worth $33.63, will be worth $48.76 on 1 May 1971
after earning interest for 30 years.
Series E savings bonds also have certain tax benefits. First
of all, their interest is exempt from State and local taxation. Just
as important is the fact that bond owners can postpone payment
of Federal income tax on the bonds’ acrued interest until they are
redeemed. For example, an individual holding a bond issued in the
1940’s can now wait until the 1970’s before cashing in his bond
and paying income tax on the interest.
Telephone Etiquette?
(From the Kindley AFB Skyliner)
There are thousands of phones in base shops and offices. These
handy instruments save time and effort in conducting Air Force
business. They have, in fact, become so much a part of our everyday
lives, that we take them for granted.
Unfortunately, when people take something for granted, they
often don’t give it much thought and become lax and inconsiderate
in their attitude.
In this case, being inconsiderate when using the telephone
means being rude to someone on the other end of the line. This
can cause ill feeling or unnecessary delay in business transactions.
Telephone etiquette can be summed up in five simple rules:
Answer as promptly as possible, before the second ring, if
you can.
Identify yourself, clearly and briefly, when calling someone
or answering the phone.
Hold the mouthpiece directly in front of your lips.
Wait for the dial tone before dialing.
By following these simple rules, everyone will not only transact
their business in minimum time, but will also earn the reputation
for courtesy and efficiency.
★ ★ ★
c
THE
omman
CALLS
Frequent and widespread non-
compliance with USAF Training
Prospectus (AFM-50-5) has re-
sulted in training delays, unneces-
sary administrative exercises and
personal hardship, Hq. USAF
cautioned all commands.
Publishing a new Air Force
regulation (AFR 121-6) Mar. 24,
USAF told commanders to insure
that all candidates selected to at-
tend service schools meets the pre-
requisite qualifications.
In particular, students selected
for a classified course must meet
the security requirements and
have a statement of security clear-
ance in their orders.
The regulation will be a special
subject for inspection until Sept.
30 when it will be removed, the
USAF announcement said. The
new “reg” itself spells out in
full detail the necessary steps to
comply with its provisions.
* * *
The Air Force has established
a new “Safe Driver Award” that
is open to all USAF military and
civilian drivers, including foreign
nationals.
To be eligible all drivers must
be properly licensed (U.S. Gov-
ernment Operator’s Identification
Card, Form 46), have operated a
government vehicle for 12 conse-
cutive months and 5,000 miles
without a traffic ticket or involv-
ment in a reportable motor ve-
hicle accident (AFR 32-2).
Additional criteria for military
personnel will be “A Very Good
Airman” statement or better. In
the case of civilian personnel,
“Satisfactory” or better meets
this requirement.
The new directive on motor ve-
hicle driving (AFR 32-11) also
outlines additional criteria for 5,
10 and 20 year safe driving
awards.
The regulation gives base com-
manders, or comparable authority
* * *
A revolutionary radar unit on
SAC’s newest bomber—the B-52H
—has a magic eye which looks
ahead and shows the aircraft com-
mander the exact profile of ap-
proaching terrain still miles away.
* * 4=
HOW YOUR "E” BOND DOLLARS ACCUMULATE THROUGH PAYROLL SAVINGS
Save All the Work of Saving ... By Saving Where You Work
BUY U. S. SAVINGS BONDS
THE WHITE FALCON
Col. Benjamin G. Willis, USAF
Commander, Air Forces Iceland
The WHITE FALCON is an official Class II Armed Forces newspaper published weekly at
Keflavik Airport, Iceland by Air Forces Iceland of the Military Air Transport Service for
all contingents stationed at Keflavik Airport. The WHITE FALCON receives AFPS and
AFN8 materials. Views and opinions expressed herein are not necessarily those of the
Department of Defense.
Information Officer.........Capt. Warren J. Papin, USAF
Editor ....................... TSgt Wylie Mason, USAF
Isafoldarp.-entsmlOJa h.l.
Aerospace Power for

s4ih
Space Role Outlined
(This is the second of a series of articles based upon testimony
before Congress by the Secretary and Chief of Staff of the Air
Force covering Air Force policy. Editor.)
“No discussion of the posture of the Air Force can be complete
without emphasis on the changes which are coming so rapidly with
man’s knowledge of space,” Secretary Zuckert said. “He will soon
be able actually to leave the Earth and traverse above its atmos-
phere.”
“There is no turning back. We do not explore space for pur-
poses of national prestige, nor strive for mastery of space for
aggressive purposes. Space is a new avenue to knowledge and can-
not be blocked off. Man cannot deny himself knowledge of his
universe.”
Following Mr. Zuckert, General White outlined his views,
pointing out that on the subject of space “the military missions
that I visualize in space are all extensions of those that we are
now performing in the atmosphere. In accomplishing a mission
above the surface of the Earth, it makes little subjective difference
whether it is accomplished in the atmosphere or above it.”
The Air Force Chief of Staff prefaced his remarks to the
senators by noting that “it is obvious to me that the Soviets no
longer walk in our footsteps. On the contrary, they are breaking
new ground on their own, after an apprenticeship during which
they have forced the pace through a combination of native ingenuity
and maximum exploitation of the free world’s own research and
development results.”
Indicating a solution to the threat of growing Soviet aerospace
strength, General White continued: “Despite this threat I feel that
the future demands of a sound national security position can be
met if we maintain, as a matter of first priority, ready and secure
aerospace forces with war winning capabilities; if we continually
modernize these forces in pace with new technology; and if we
exploit to the fullest the long term opportunities that this same
technology offers.
“It is, in truth, a national effort,” he declared.
General White then embarked on a ‘nuts and bolts” discussion
of the various aspects and weapon systems of the modern-day
Air Force.
“Our current airlift capabilities are generally adequate to sup-
port approved critical wartime requirements,” he said, “but the
lack of modern airlift aircraft does not allow us to support our
combat forces at the speed and rate that might be needed in certain
types of emergencies.
“Recent action to expedite the production of C-130Es—a range-
extended model of the C-130B; the diversion of a portion of the
KC-135 production to a cargo version of the same aircraft; and
the development of the advanced cargo aircraft, the C-141, are
important strides toward the early attainment of the naional air-
lif capacity we need.”
(Next week, Tactical Air, New TAC mission plane, and SAC
Alert, will be discussed.)
★ ★ ★
Space Summary Released
Washington (AFPS)—The National Aeronautics and Space Ad-
ministration has released a summary of satellite and space probes
launched by the United States and Russia as of March 29, 1961.
Following is a list of space vehicles in orbit and their launch
dates.
Explorer I (U.S.) ................................... Jan. 31, 1958
Vanguard I (U.S.) ................................ March 17, 1958
♦Lunik I (USSR) ....................................... Jan. 2, 1959
Vanguard II (U.S.................................... Feb. 17, 1959
♦Pioneer IV (U.S.) ...’............................. March 3, 1959
Explorer VI (U.S.) .................................. Aug. 7, 1959
Vanguard III (U.S.) ................................. Sept. 18, 1959
Explorer VII (U.S.) .................................. Oct. 13, 1959
♦Pioneer V (U.S.) .....................................March 11, 1960
Tiros I (U.S.) ...................................... April 1, 1960
Tx-ansit I-B (U.S.) ................................. April 13, 1960
Spacecraft I (USSR) ................................... May 15, 1960
Midas II (U.S.) ....................................... May 24, 1960
Transit II-A (U.S.) .................................. June 22, 1960
NRL Satellite (U.S.) ................................. June 22, 1960
Echo I (U.S.) ........................................ Aug. 12, 1960
Courier I-B (U.S.) ................................... Oct. 4, 1960
Explorer VIII (U.S.) ................................ Nov. 3, 1960
Tiros II (U.S.) ...................................... Nov. 23, 1960
Samos II (U.S.) ...................................... Jan. 31, 1961
♦Venus Probe (USSR) .................................. Feb. 12, 1961
Explorer IX (U.S.) ................................... Feb. 16, 1961
Discoverer XX (U.S.) ................................. Feb. 17, 1961
Discovei’er XXI (U.S.) ............................... Feb. 18, 1961
Transit III-B & LOFTI (U.S.) ......................... Feb. 21, 1961
Explorer X (U.S.) ................................... March 25, 1961
♦In solar orbit; others in earth orbit.
COMPLETE SUMMARY (Launched by March 29, 1961):
Earth Orbit: U.S. 37, USSR 11**, Solar Orbit: U.S. 2, USSR 2;
Lunar Impact: USSR 1.
♦♦Lunik III apssed once around the moon, then into earth oi-bit.
Peace Through Deterrence