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amAsked for F orgeBuyerSeveral Firms Interested, Letter ClaimsCity Council last night heard a letter from an official of Struthers Wells Corporation' asking that the city consider granting a three tofive-year tax ’concession to prospective purchasers of the local forge works,The letter, signed by D. P. Edwards, vice president, secretary and treasurer of Struthers, said that several possible buyers have expressed interest in purchasing the local fadlilry.Some of the interested parties, the letter said, have inquired whether they can expect any tax concessions from the city’’ the county and the school district.Councilman Charles F. Kindred explained that Council could give no answer to the query row because several factors are involved in the decision.He added, however, that Council is most interested in encourae-rring industry to come into Titusville.Individual SoughtThe letter also asked with whom the prospective buyers could get in touch to discuss tax concessions.Mayor C. M. Sonne remarked that the prospective buyers could contact any member of Council.The boiler works division of the local plant has been sold to Cleav-er-^rooks Co. of Milwaukee, Wts.Struthers officials have indicated that the liquidation of inventories in the forge plant is scheduled for completion this month.Officials are in the midst of negotiations with interested parties ■for the sale of the local forgingfacilities.A study was started in April by the Titusville Sharon Corporation to determine the feasibility of establishing a corporation which would forge ingots in Sharon and truck them here for machining and finishing.Estimates have placed the number employed at the forge works before the start of liquidation at 370.F‘TW;Motsisad’Cit*;tiotorKoGestnO ViFi iresrjsurtototai
Newspaper Details
Titusville Herald
Titusville, Pennsylvania, US
Tue, Jul 02, 1963
Page 1
Full Page
Clipped by
Connie T.
USA 22 Oct 2021
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