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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Oct 14, 1962
Page
7
Business Week surveys 35 economists predicting a mild recession early in 1963 with recovery by year end. A minority expect a deeper drop into 1964, but a larger group foresees no recession. Growth is seen as steady with moderate recession and gradual rebound. Consumer spending should rise, capital outlays advance, housing may dip slightly, public construction could rise.
John W. Holderby Jr. starts Holderby Advertising Design at 6084 N Main St to specialize in advertising art furniture illustration and package design. A Reidsville native he earned a commercial art degree from Richmond Professional Institute and worked three years at Industrial Lithographic Co. Inc. and one year at the Southern Buying Syndicate. He is married with one child and a member of First Methodist Church and the Furnitureland Kiwanis Club.
The Piedmont Chapter of the National Association of Accountants will hold a technical meeting at the Oldtown Club in Winston-Salem Thursday at 6 p.m. About 200 area accountants are expected. Harvey B. Schwalbach of GE's outdoor lighting department will address Need for Continued Training and Development of Accountants.
Named Agent Phillips-Davis Inc. will supply upholstered furniture and bedding manufacturers in a 10 state area. Paul H. Holmberg of Du Pont says a wide range of upholstery patterns is stocked in the Phillips-Davis warehouse to provide immediate local supply for manufacturers and Du Pont distributors serving reupholsterers. He notes rising importance of the High Point area in the furniture industry and new vinyl upholstery types.
Named manager Fred A. Cassie, appointed by Childers Manufacturing Co of Houston, will supervise sale of pre engineered structures to car dealers drive in restaurants fleet owners and school bus operators. Cassie a High Point resident since 1960 has been selling in commercial and industrial chemicals prior to his new appointment.
Limerick Finance starts a High Point consumer loan and financing service after buying Eastern Finance at 211 E. Commerce. George Rinker to manage the new Charlotte area office, part of six North Carolina branches. The firm operates 170 branches in 16 states offering loans up to 600 dollars and financing for autos, furniture, farm equipment, and household goods.
Witz Furniture Industries Inc has begun construction of a new office building valued at $240,000. The project advances the company’s expansion plans and is detailed in the BUSINESS section.
Daisy Mills Inc of High Point becomes the first Morpul licensee to ship over one million pairs in August. A B Crew of Morpul announces the record, noting 1 019 832 pairs in total. The article traces the Bollinger family leadership, plant expansion from 5 000 to 65 000 square feet, and a new 10 000 square foot addition.
The article lists unofficial bid and asked prices from NASD and other sources as a market guide dated October 12 1962. It names numerous firms across industries including Franklin Life General Shale Jefferson Sidney American Sterilizer Wachovia Telegraph and North Carolina institutions among others indicating security values and ranges.
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