Capital, The (Newspaper) - May 3, 1982, Annapolis, Maryland
Economic Index Dow Jones Avg. 848.36 Money Market Avg. ('r.m fund 13.6% Ai rows indicoti change from previous week 6Mo.T-Bills 12.4% 10.37% NO CHANGE 17.52% NO CHANGE April 33-29 86 NO CHANGE 16.5% NO CHANGE April U-24 408 Business MONDAY May 3, 1982 Page 23 small shopping center coexist By ANNETTtfLICITRA Staff Writer The merchants of Olde Severna Park Village Center held each others' hands in the days they thought doom was when their center's W T Grant Co store closed in 1976 and the Severna Park Mall set up In fact, doomsday did not arrive While the mall was carving out its turf across Route 2, the village center went about its business drawing on a cadre of loyal customers and crowds attracted by the mall "The mall said Betty president of the Severna Park Merchants' Association based in the village center "The more traffic we have coming through here, the better it is Whereas the mall's 35 merchants pride themselves on selection and convenience, the 64 business owners in the village association including peripheral shopowners strung around Dawson's Corner consider it essential to provide personal, neigh- borly service The result is an almost symbiotic relationship between the clusters of stores poised on either side of Ritchie Highway Their seemingly com- fortable co-existence may stem from the fact that R Stuart Armiger, the mall's landlord also manages the village center Village merchants say they get an occasional referral from the mall shopkeepers, but note that Severna Park residents tend to patronize the shops on whichever side of the high- way they live The center's merchants also like to emphasize intangible differences, such as the way casually garbed customers can stroll into their stores without feeling embarrassed. "We know our customers by their first said Mrs Wmkelmeyer-Wells, who operates a secretarial service in the Maranto Building She still gets calls from people who patronized her father's hardware store for 31 years on Baltimore-Annapolis Boulevard The personal touch is recognized quickly by v illage patrons "We find a lot of our new customers Vvill depend on us to refer them to doctors and said Bee Darrow owner of The B-hive arts and crafts shop a 10-year-old enterprise SEVERNA PARK MALL is "surging ahead" while many mails across the nation are suffering, according to mall Promotion Director and piano store owndr Steven Cohen PERSONAL, friendly service is the advantage at the merit's potential rival, Olde Severna Park Village Center, say businesswomen Betty Winkel- meyer-Wells and Bee Darrow "The greatest compliment I ever got was thislady who was very irate with me because I was conversing visiting with my she said "They were all customers." What the village center needs, merchants say, is a face lift- More trees, more benches and resurfacing of the parking lot New facades, such as those along the west side of Boulevard, would be ideal, Mrs Darrow said, "But that's just not going to come about, so we have to rely on our own resources." What the village center lacks in appearance and creature comforts, Severna Park Mall counts as a natural advantage. The mall's promotion director, however, says he thinks a bigger factor makes the mall successful: Severna Park's wealth. With an upper-midole-class clientele, the mall, anchored by -Woojco and a Giant supermarket, is "surging ahead" while many malls across the nation are suffering, ac- cording to Steven Cohen, owner of Jason's Piano and Organ Co. Several other Severna Park mer- chants agreed that the recession combined- with persistent cold weather diminished Easter season sales, but Cohen said the blow was softened in this suburban community of government workers and professionals. Malls in Annapolis and Glen Burnie boasting major department stores have had little effect on Severna Park because "we never had the depart- ment stores to begin Cohen said. But he and other mall merchants say they would "love" to see the property behind the mall developed into "a J.C. Penney, Montgomery Ward or Sears, Roebuck Co. store, where state plans for an expressway fell through. If the state can be persuaded to sell the land, Cohen added, the mall could extend its parking lot, which becomes so jammed on some days that em- ployees have been asked to park behind the buildings. This has resulted in several cars being van- dalized, employees say. Nevertheless, merchants like the success that comes with the parking headaches, and the newly-elected president of the mall's merchants' association says she wants to do more promotions such as fashion, home- improvement and craft shows, Mary Beth Nichols, manager of 6. Briggs clothiers, said she would like the mall "to make more inroads" into the community, convincing residents "that they do not have to go to other malls." She admitted that major stores in the Annapolis and Harundale malls make it "hard to be since the largest places, such as Columbia Mall, mat spend as much money on Easter advertising as Severna Park Mall does for an entire year. Still, Severna Park's smaller size means less red tape for merchants. And like the village center merchants Ms. Nichols asserts that Severna Park residents never need to stray from the com- munity for goods and services. One thing Ms. Nichols wants to see for the mall is more of the neighborly appeal of the village center. "Since we're right smack hi the middle of the communi ty, we do want to support she said. "We don't want to be mass producers. That causes1 problems." The manager of Ambach's Linen and Bath, Joann Lengal, agreed, saying mall merchants need to become more cooperative an aim the village center merchants say 'they've achieved over years oi business dealings, ironically strengthened during the mall's first year. "Each (mall) store is great in its own right, but if they were together it would be even Ms. Lengal said. "We just haven't reached that point yet." Meanwhile, the village merchants are planning more mall-like events such as their annual Halloween promotion ones that can be done outdoors. And what Paul Darrow, owner of the village center's Frame of Mind picture-frame'shop, would like to see most of all is, "more events that tie all the merchants together, so it's big enough and fun enough to pull the people in." Wall Street Watcli ALLAN RACHAP Energy prices fell in April Stock market edgy over budget deficit Well, six out of seven isn't bad The stock market's string of consecutive weekly gams came to an end as April closed The 13 8 point decline in the Dow Jones Industrial average really w asn't all that severe, considering the background news environment What was hoped for was a breakthrough in negotiating session between President Reagan and House Speaker Thomas P 0' Neill, which ended in deadlock Congress will now attempt to wrestle with the budget and come up with something that can pass both chambers and receive a presidential signature. What has the markets is the prospect of huge federal deficits keeping interest rates up, and th- warting economic recovery The llth consecutive monthly decline in the government's index of leading economic indicators was reported last week New homp sales continued at an anemic pace Most analysts anticipate an upturn in the second half of the year, based on improved retail demand Vigorous oconomic growth is not likely, however, until the depressed automobile and housing industries perk up It is possible that when the latest unemployment statistics are released this week the numbers may be rather unpleasant Some knowledgeable observers look for the jobless rate to set new post-war highes at about 9 25 percent Over in tho omHif markets, losses prevailed but were fairly modest in the wake of the budget impasse. Short-term and long-term rates notched higher, but by only small fractions The U S Treasury Department made known its plans for the next quarterly debt refunding About billion in new debt will be added this quarter, and about twice that amount will be needed in the final three months of fiscal 1982, which ends on September 30. A part of the government's plans are next week's sales of three- and 10-year issues. Both of the securities should provide yields in the 13.5 to 14 percent range. In corporate news, for the most part, first-quarter earnings reports did not provide much in the way of pleasant reading General Motors managed to stay in the black, but Ford lost a bundle and Chrysler stayed in the red with some operating profit improvement visible. Actually, Chrysler made money, if you count the sale of its tank operations to General Dynamics Oil companies by and large posted poor first-quarter numbers under the influence of slack demand and falling prices It wasn't 100 percent bad ABC's earnings were up 89 percent, and Anheuser-Busch posted a 55- percent gam Could it be that in hard times people sit home, watch television and have a few beers? (Allan Rachap is a senior account 'ive at the Annapolis office of 1 ernll Lynch Led by lower prices for gasoline, fuel oil and natural gas, energy costs in the Baltimore area declined by 1 5 percent in March for the biggest one-month drop since October, the U S.Bureau of Labor Statistics has reported. As Annapolis-area gasoline prices hit a two- year low, the labor bureau said the cost of gasoline m the region plunged 2 6 percent during March the steepest decline since the govern- ment began keeping price records four years ago. Nevertheless, the average gasoline price of 34 a gallon in Baltimore was about 7 cents higher than the bureau's national average, and above what consumers paid in both Washington and Philadelphia The cost of home-heating oil fell 2 6 percent in March from the previous month, and 4 8 percent over the previous 12-month period Local prices averaged nearly a gallon, about 2 cents less than the national average and 6 cents below the Washington average Residential natural gas prices, which showed steady increases through 1981, dipped 1.5 percent compared to February, although gradual decon- trol of natural gas has pushed its cost up more than per cent in the past 12 months. One energy source failing to show any decline in past months is electricity which, with a 1.3 per- cent hike in March over February, finished March up nearly 20 percent. The average local price of for 500 kilowatt hours was almost more than the national average and above the cost in Washington. Energy prices in the survey reflect costs to the residential consumer, and include utility ad- justments and all applicable taxes Newsmakers Manager appointed William J. Post has been promoted to manager of the Annapolis sales division at Brown Williamson Tobacco Corp Post joined in 1976 as a sales representative in Philadelphia, Pa and in 1980 was promoted to field sales assistant in Baltimore. He attended Broome Community College in Binghamton, N.Y Post is married to the former Miriam Joan Gilson of Endwell, N.Y., and they have three children Brown it Williamson, which manufac- tures Kool, Viceroy, Raleigh, Belair and Barclay cigarettes, is the nation's third largest tobacco company Broker named Paul Burdett has joined Legg Mason's Annapolis office as an investment broker Burdett comes to Legg Mason after serving as president of a manufacturing and retail furniture corporation for eight years. A Teaneck, N J., native he is a graduate of the University of Maryland Burdett lives in Annapolis Retirement dinner After 33 vears of service to Nationwide Insurance Co Chester Harriman will retire WILLIAM POST in June. A retirement dinner in his honor will be held June 23 at the Annapolis HiltonJnn's main ballroom. The reception will begin at p.m. and dinner will start at p.m. The cost for dinner and gift will be If you wish to attend, send a check payable to Claim Gift Fund, Abe Vereide, 2500 Riva Road, S.E., Annapolis, Md. 21401. Send your reservation by June 4 if you plan to attend. LEBG MOW HAS YOUR IRA SOLUTION Multiple Choice Individual Retire- ment Account Plan offers several in- vestment options High-Yield Bond IRA Equity Investment IRA Cash Reserve Trust IRA Self-Managed Account Call 268-4700 or stop in to discuss the best plan for you LEGG MflSON Cash Reserve Trust LEGG MASON WOOD WALKER, INC 80 WEST-STREET ANNAPOLIS MD21401 Established 1899 Member New Yort Slock Ini Member SIPC Classified NEWSPAPER! A ifr'i i '.V NEWSPAPER!