Business Notes reports district loan declines and new appointments
Enterprise notes the Fifth District banks cut overall loans by 10.9 million in the last week of July with total loans outstanding at 956.1 million and a decline in demand deposits. It also mentions Adams Millis Corp dividend changes and several executive moves at Robey Department of Drexel Enterprises, Cosmopolitan merger activities, and new appointments in insurance and merchandising leadership.
MENTIONED IN THIS ARTICLE
Enterprise
Joe Brown
Enterprise News
Federal Reserve District
Federal Reserve Bank of Richmond
Robey Department
Drexel Enterprises Inc
Jeter S. Oakley
Oakley
Robert P. Phifer
Roy Braddock
Ray S. Waters
Ralph Logan
Nuclear Electric Plant Near Columbia Set to Go Online
The Southeast's first nuclear electric power plant, built by four investor owned utilities, will begin operation near Parr, South Carolina in fall. The $43 million reactor, to be loaded with fuel in October, is a joint venture by CP and L, Duke Power, SC Electric & Gas, and Virginia Electric Power, with AEC funding about 14 million for research. The Parr site sits on the Broad River about 25 miles from Columbia.
MENTIONED IN THIS ARTICLE
Columbia
S. C
S.C
Carolinas
Virginia
S. C. McMeekin
Virginia Nuclear
Er Associates Inc
Carolina Power and Light Co
Duke Power
South Carolina Electric & Gas Co
Virginia Electric & Power Co
Atomic Energy Commission
AEC
Parr
Broad River
Crete
CVNPA
Globe Furniture adds two new personnel
Globe Furniture Co. and Colony Tables Inc. president Henry A. Foscue announced two hires. James Bulla Adams and John C. Mackorell joined Globe on July 20 and June 18 respectively. Both are in training for future sales or administration roles. Adams, 22, UNC graduate, and Mackorell, Davidson College alumnus, live with their families in High Point and Morganton respectively.
MENTIONED IN THIS ARTICLE
Henry A. Foscue
Globe Furniture Co
Colony Tables Inc
Globe
James Bulla Adams
John C. Mackorell
Adams
Mackorell
J. Roscoe Adams
Arlington
High Point
University of North Carolina
Mackerell
Davidson College
Jane Smith
Morganton
Mackorells
Janie
Barbara Ann
Gordon St
Miller named new Lilly salesman in High Point
Ronald C. Miller is Eli Lilly and Company’s new salesman in High Point succeeding L. Craig Lewis who recently retired. Miller attended Tulane and Northwestern and earned a BS in pharmacy from Purdue in January. He is a member of the American Pharmaceutical Association and Rho Chi and is registered as a pharmacist in Alabama.
MENTIONED IN THIS ARTICLE
Ronald C. Miller
Eli Lilly and Company
High Point
L. Craig Lewis
Miller
Tulane
Northwestern
Purdue University
American Pharmaceutical Association
Rho Chi
Alabama
Tax Cut Suspense Grows as July Stats Stir Debate
The Kennedy tax cut plan faces a squeeze as July economic figures raise questions of immediate action. Unemployment fell by 450,000 to 5.3 percent, marking the best rate since May 1960 and leaving economists debating whether Congress will be asked to cut taxes now or next year.
MENTIONED IN THIS ARTICLE
New York
Kennedy
Congress
Arthur J. Goldberg
Goldberg
Urg
National Association of Securities Dealers, Inc
Economic outlook mixed as July data show slowing retail sales
Kennedy plans wait and review reports on retail sales and production as he spars with a cautious economy. June to July data show consumer spending softening. construction slips. inventories rise modestly while earnings hover near peacetime records.
MENTIONED IN THIS ARTICLE
Kennedy
Lenoir Man Joins Scottish Bank Staff
Danny M. Courtney of Lenoir resigns as assistant secretary and treasurer of Hudson Cotton to join The Scottish Bank in late August. He will also leave the North Carolina General Assembly representing Caldwell County. Courtney’s 25 year banking career follows work in stores and includes studies at The American Institute of Banking and North Carolina Bankers Conference.
MENTIONED IN THIS ARTICLE
Bowater Paper
First Sou. Co
Brush
M. C
Finance First Union Natl. Bank
Cannon Mills
O'a
Florida Gas Co
Carolinas Capital
Fox Stanley Photo
Carolina Casualty Ins
Sauvavcece
Franklin Life
Carolina Natural Gas
Futterman Corp. Ae
Carolina P & L
Garfinckel J
Carolina Steel
General Shale
Carolina Tel Tel
S. E
Central Telephone Pesseees A
la International Serseeee
Wmentral Vermont Taee
IG Sou
Real Estate Sheetens
Con
Seeunee
Seer Betbsreseress
Colonial Stores
Green, A. P S Aeroton Me
Guif
Cities Gas Allied Security Beeace
Colorcraft Corp
Teeeee
Gulf
American Fidelity Life
Ie Donnelly, RR & Sons
Homes Enterprises
Scott Foresman American Lando
Downtowner Corp
WM Huyck Corp
Scott Mattson Farms
Drexel Enterprises
Intermin Tel
Atlanta Gas Light
Duffy Mott
Interstate Life & Accid
Security Group Bbs Studios Dbeoey
Dynatronics
Incia
Security Life & Trust
Bassett Furniture
Eastern Util
Ohio State Life
Sonoco
Western Petro
Economic Laboratories
Blue Bell, Inc
Inc. Syn. of Canada
Soroban Engineering
Boston Capital, Inc A
Fidelity Bankers Life
King Trust Co
Son
Frontier Finance
I Ivey, J. B. & Co Southern Nitrogen Wy
Jackson Minit Markets
Southland Life
Jefferson Ltd. Life
State Capital Life
Kaiser Steel
State Loan
Kavanaugh Smith
Sterling
Ketchum & Company
Stevens Markets
Lance, Inc
Lou Blower Ve
Still Man
Liberty Loan
Superior
Life & Casualty
Textiles, Inc
Lil General Stores
Thermo Plastics
Lilly & Company
Eti
Thmasville Inds
Lowe’s Companies
Tidewater Natural Gas
Time, Inc
Maxson, W. L. Corp. Lucky Stores
Towmotor Corp
McLean Industries 3M
Trans
Metrotek Electronics
Travelers Insurance
Moore Handley
Travelodge Corp
Natl. Dev. Corp. U. S. Chem. Milling Se National Food Sa
Nationwide Homes
U. S. Realty
Nationwide
Wachovia Bank
Mi Nat
Life & Accident
Walker, B. B. Shoe
Walter
Jim
New Britain Machine
Watson Bros. Trans
North American Life
Western Pwr. & Gas
N. C. National Bank
N. C. Natural Gas
N. C
Wright Homes
al Zonolite Co
Peninsular Life
Textile Corp
P&n Railway
Piedmont Aviation
Piedmont Natural Gas Wa
Public Service of
Pyramid Life
Republic Nat Life
Rose’s
Rowe Furniture
Savannah Elect & Pwr NM
Savannah Sugar
Danny M. Courtney
Hudson Cotton Manufacturing Co
Lenoir
Scottish Bank
John P. Stedman
Courtney
North Carolina General Assembly
Caldwell County
Henry M. and
Jennie Roderick Courtney
Collettsville High School
American Institute of Banking
North Carolina Bankers Conference
Economist Walter Heller Faces Senate Hearing Questions
President Kennedy adviser Walter Heller, head of the Council of Economic Advisers, is slated for a joint Senate House Economic Committee hearing. Chairman Wright Patman signals skepticism about immediate tax cuts while Kennedy backs a possible reduction after July data.
MENTIONED IN THIS ARTICLE
Washington
Walter W. Heller
Capitol Hill
White House
Heller
Kennedy
Council of Economic Advisers
Joint
Senate House Economic Committee
Wright Patman
D-Tex
Also Mentioned on This Page
Adams-Millis Corp
J. H
Durance Co
Chicago
James G. Cage
Southern Department
Southern
Martin L. Shape
John Twohey
Textile Insurance Co
Cosmopolitan
Shape
Twohey
Bob Reed
Reed Supply Co
Thomasvile
Institute For Essential
President's Council
G. Reid Marsh
Sherbrook Dr
New York Life Insurance Co
United States
Canada
Marsh
North Carolina Assn. of Life Underwriters
John A. Maxwell
State Farm Insurance Companies
Paul F. Crawford
Maxwell
N. Main St
West Virinia
University of West Virginia
Ohio Oil Co
State Farm
Navy
Lions Club
Masonic Order
American Assn. of Petroleum Geologists
Woodruff
O. K. McCarter
S. H. Kress and Co
McCarter
Reinhard & Company Inc
Park Ave
Southern Rep
Otis L. Holland
Greensboro
M. D. Keith
Hayden Place
College St
Professional Life Insurance Service
George P. Clark, C.L.A
NEW England Life
Mutual Life Insurance
America
High Point Enterprise
Jack Lefler
AP Business News
First National City Bank of New York
Universal Pub
First Southern Co
Piedmont
Pyramid Life Ins
Rowe Furn. Co
J. Sturgis May & Co
North Car
Bank Bldg
American Fidelity Life Jefferson Ltd
Life
Metrotek Electronics Textile Corp. Phillips Foscue
Thomasville Furn
Indus. Wachovia Bank & Trust
Living Insurance
Equitable
W. O. White
the Equitable Life
Joe Honeycutt
Lenoir Man
Danny Courtney
Renault
Max Bones
N. Main Street
Life Insurance
Wickcliff Ave
Occidental
Kyle OF North Carolina
Raleigh
Robert A McCuiston
Edgar T. Docbrow
Life Accident & Health Pension Plans
First Mortgage
Powell, Kistler & Co
New York Stock Exchange
Beeson Hardware Co
Charles E. Diffendal, JR
Southeastern Securities Corporation
Winston-Salem + Charlotte
Philadelphia-Baltimore Stock Exchange
North State Telephone CO
A. Sturgis May & CO
BANK
Thomasville Furniture
Drexel
American Furniture
Rowe Furniture Co
Thomasville Furniture Industries, Inc
Thomasville
U.S.A
Natl Bank Bldg
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