St Louis Flying Club Newsletter - 16 October 1997

From The President - By Mike Piccirilli

Dear Members,

The members, primarily Marlin, have been flying the plane so much that we actually will need to change the oil between annuals. That's great! Please give Randy a call if you could help out. Randy also mentioned that the ELT batteries were coming due. He will replace those as well. Apparently the Altitude Encoder is still acting up when it is on for an extended period. Randy has the authorization to buy a new encoder.

I have a friend that is showing interest in a share of our aircraft. I may decide not to sell my share at this time. If someone else is interested in selling their share let me know.

I have given my 2 week resignation notice at Boeing. I am going to work for Herb Lanese at the Behlmann Automotive Network. I will let you know my new work number next newsletter.

Happy Landings,

Mike Piccirilli

Treasurer's Report - by Marlin Sipe

I added the "Share Value" back onto the Balance Sheet. It's calculated the same way as before when the Share Value was shown. The share value is 1/7 of:

• Estimated value of the plane (using the appraised value from earlier this year) PLUS
• Current Treasury (extra funds that stay with the club when a share is sold) MINUS
• Desired Escrow for Annual (a buyer is willing to pay less as annual approaches).

The Share Value is only an estimate. It will vary as the Treasury changes (payments received, bills being paid, etc.).

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