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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Jan 19, 1958
Page
32
The 1957 market shows Lorillard topping active stocks with a 113 percent gain from 1956 to 1957, while Magic Chef soars around 1600 percent in smaller firms. Havey and IBM also post big moves with IBM’s 16.7 percent rise yet a 19 percent drop from its 1957 peak. Superior Oil also climbs 37 percent from 1956, though loses 16.5 percent from its 1957 high.
About 100 representatives from Ohio pulp and paper firms are invited to a one day community relations seminar at Miami University. Officials from Champion Paper, Oxford Research Associates and Miami will discuss hear learn and communicate aspects of community relations. Sessions run 9 a.m. to 4 45 p.m. with multiple discussion rounds.
Paul Pieratt named stage manager of KRCA-TV Los Angeles affiliate NBC He joined the station October 1 1956 after Middletown High School and Wilmington College graduation He served a four year Air Force tour with assignments in Orlando and later worked in NBC Burbank engineering and local TV operations
William G. Shaw treasurer of Raymond Bay Corp joined 17 top business executives at a January seminar in Dayton held by National Cash Register Co. The program covered the latest developments in business methods.
United States Steel Corp announces curtailment at its National Tube Division in Lorain Ohio and plans temporary layoffs of 1500 to 2000 workers. About 2500 of the 11000 total workforce have already been laid off.
A rough measure indicates sea water contains a little more than a quarter of a pound of salt in each gallon. The fact highlights the high salinity of marine waters and has implications for desalination and marine chemistry.
The 1957 calendar year ended with Series E and H Savings Bond sales of 4.507 billion, up slightly from 1956 in December but below the prior year’s total. Redemptions rose to 5.469 billion, up 13 percent from 1956, with holdings reaching a record 41.578 billion as about 40 million Americans owned these bonds.
Roger Babson warns college graduates face a tighter job market this year due to automation, government cuts, and productivity gains. He cites 20 percent of last June’s grads not finding preferred full time work, notes some hires are being excessed, and urges early, thorough prep and targeted interviewing.
Auto industry experts at the Society of Automotive Engineers meeting argue higher maintenance costs come from consumer demand for more comfort and power accessories. They note larger high speed engines reduce fuel economy by about 2 percent, with air conditioning cutting up to 10 percent. Driving habits and traffic jams further waste fuel, though highway testing at 45 mph may yield better economy.
At the annual meeting of Citizens Building Loan & Savings Assn officers and directors were re-elected. Dave Finkelman as president, Allen H. Bechtel as secretary, and John F. Galeese as chairman will serve one-year terms, with Erle Hanson as vice president, Rita Fitzwater as treasurer, and Mary Ann McGill as another officer remained in place. Directors Galeese, Finkelman, Hanson, Thomas A. Galeese, Joseph S. Thomas, Bechtel, and Robert B. Dell were returned to three-year terms.
Ohio's sales tax in the first half of the fiscal year reached 124,077,726 with Dec 31, 1957, a 0.8 percent rise from 123,104,171 in the prior year. Ten day December 1957 receipts totaled 12,075,853 a 15.67 percent increase over 10,439,610 in 1956. Butler Montgomery Preble and Warren counties showed mixed gains.
Federal mediator says details will wait on union ratification. Los Angeles bus drivers, 1200 strong, must approve a 40 hour week and wage terms before the proposed end to a 49 day strike on Metropolitan Coach Lines takes effect. The dispute began December 1 and affected about 250,000 riders.
The Ohio Chamber of Commerce estimates the 1958 59 federal budget would cost Butler County 87 504 103 dollars with nearby counties Warren 15 619 208 Montgomery 235 566 892 and Preble 10 047 444 also bearing large shares Ohio would pay about 4 567 020 000 in federal taxes or 493 02 per resident and 1 972 08 for a family of four The analysis notes Ohio taxpayers fund 6 18 percent of federal taxes and compares state spending to the national total for context and highway, school, and infrastructure costs.
Corporate leaders are increasing charitable gifts to higher education, with 1957 gifts projected around 150 million dollars. The plan pools funds via state groups, distributing roughly 60 percent outright and 40 percent by enrollment, to aid 39 non tax supported colleges and hold down tuition while boosting faculty salaries. Bank and industry support, led by executives like Robert E. Wilson and Thomas C. Boushall, emphasizes the mutual benefit of stronger colleges for corporate well being.
Banana harvesters pick fruit while green to prevent skin rupture and insect invasion as fruit ripens on the tree, preserving the crop and reducing spoilage.
Clayton reports drugs as the best industry of the year with a 23.81 percent gain. Copper and steel stocks fell sharply with copper down 42 percent and steel off 32.8 percent. The tobacco group led by cigarette shares showed resilience with a 12.5 percent year to year rise, while airlines, copper and aluminum lagged, each down above 35 percent.
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