Grand Rapids varnish firm renames to Guardsmen Coatings
Grand Rapids Varnish Corp. will rename to Guardsmen Chemical Coatings, Inc., reflecting its true nature as a coatings and plastics producer. President Joseph A. Hager announced plans to pursue acquisitions and expand outside the current sales territory. The firm reported 1962 first half total sales of about 2.006 billion with insurance in force rising 26 percent. varnish sales were a minor share of total, with research spending at 6.2 percent. The company held its annual meeting in Grand Rapids, Mich., and discussed future branding and growth strategy.
MENTIONED IN THIS ARTICLE
Grand Rapids Varnish Corp
Joseph A. Hager
Guardsmen Chemical Coatings, Inc
Grand Rapids
Mich
Hager
Downtowner Corp
Maxson
W. L. Corp
Drexel Entreprises
McLean Industries
Iatronics
Metrotek Elect
Ms Eastern Util Moore Handley, Hdw
Economic Laboratories Natl. Dev. Corp. Electronic
National Food
Fidelity Bankers Life Pd
Nationwide Homes Com
Aveer
First Sou
Jive Nationwide Homes
Olask
First Sou. Co
Life & Accident
Frontier Finance
First Union Natl Bank
Old Line Life Seeesses
Soroban Engineering
Florida Gas
New Britain Machine Co
Southern Nitrogen Wa
State Capital Life
Fox Stanley
Franklin Life
C. Natl. Bank
Aerotron
Allied Securities Inc
Garfinckel J
Futterman Corp
OCC
Stevens Markets
Occidental Life
Stevens
General Shale
Ohio State Life
Amer. Comm
S. E
Overnite
Superior Cable
American & E
Atlanta Gas Light
Gulf Life Insurance
P&n Wy
Obeneva
Tidewater Natural Gas
BBS Studios
Hamilton Sibesevceveoce
PS of
NC. Time, Inc
Bassett Furniture
Jhanes, P. H. Knitting
Pyramid Life
Towmotor Corp
Huyck Corp
Rowe Furniture
U. S. Leasing
Brush
Savannah Elect. & Pwr
U. S. Realty
Co. M. C. Finance Fees
Interstate Life& Accid, Waesees
Savannah Sugar & Mere
Wachovia
Watson Bros. Frans
Zonolite Co
Carolina Steel
Kaiser Steel
Acteen Absnissiennes
Carolina
Tel & Tel
Kavanaugh Smith
Central Telephone Eee
Life & Casualty Ins
Colorcraft Corp
LII General Stores
Consolidated Credit
Craig System
Lilly & Company
Lone Star Steel
Culligan, Inc
WM Donnelly, RR. & Sons
Lowe’s Companies
Lucky Stores
Confidence Rises As Washington Actions Boost Markets
The business world welcomed three Washington moves: margin requirements cut from 70 to 50 percent, Senate Finance Committee actions decrying tax withholding on interest and dividends while approving a 7 percent investment credit, and new tax depreciation schedules saving about 1.5 billion in taxes. Stocks jumped on each development, reflecting hope for the economy more than immediate effects.
MENTIONED IN THIS ARTICLE
Darden Chambliss
AP Business News
New York
Washington
Senate Committee
Treasury
Douglas Dillon
Kennedy
Kennedy era depreciation shifts spark optimistic business read
The passage notes government tax changes, including depreciation schedules and investment credits, as a potential growth spur. Treasury Secretary Dillon argues the administration is not anti business, while Ford executives tout recovery and job expansion.
New Depreciation Schedule Seen Helping Small Furniture Plants
Washington announced tax depreciation schedules that will assist smaller furniture plants in replacing old machinery. Larger plants are not expected to rush replacements, while many manufacturers anticipate gradual gains from faster upgrades and better facilities before the Greensboro woodworking machinery show next May.
MENTIONED IN THIS ARTICLE
American Woodworking Machinery and Equipment Show Inc
Greensboro
W. M. York
Washington
Also Mentioned on This Page
By Joe Brown
Hardce
G. Ilderton Inc
Automotive News
Ilderton
Carey Ilderton
Pilot Life Insurance Co
Joe Honeycutt
Life Insurance
Wickcliff Ave
Occidental
North Carolina
Raleigh
National Association of Securities Dealers, Inc
Ford Motor Co
Itate
Dearborn
Lee A. Iacocca
Ford di
M. D. Keith
Hayden Place
College St
Meinhard & Company Inc
Park Ave
Southern Rep
Otis L. Holland
Professional Life Insurance Service
George P. Clark
C.L.A
NEW England Life
Mutual Life Insurance
America
N. Main St
Charles E. Diffendal JR
Allied Securities Corp
High Point
Robert A McCuiston
Edgar T. Docbrow
Life Accident & Health Group Pension Plans
First Mortgage Loans
Wachovia Bank & Trust CO
Piedmont Natural Gas
North Carolina National Bank
Thermoplastics Corp
Dickson & CO
Charlotte, N. C
J. Sturgis
May &C
Nxt
North Carolina Bank Bldg
High Point, N. C
Powell, Kistier
Ckn