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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Jul 07, 1957
Page
30
Prosperity seems likely as 52 of 57 economists foresee steady capital spending and housing growth into 1958. They anticipate inflation modestly above 2 percent annually, with wages rising and unemployment edging up. Consumer spending should lift department stores and overall output to new highs by end of 1958.
A 1950s guidance piece explains self-employment credits under Social Security for those turning 65 or 62 by October 1957. Six quarters are needed, earned after 1954 but before July 1 1957, with many cases delaying eligibility until after January 1 1958. Some groups like self-employed farmers ministers and Christian Science practitioners may qualify sooner if conditions met.
Rover Babson argues non taxable turnpike bonds offer security and marketability at low prices. He notes tax free state bonds trade near 65 percent of par, driven by rising interest rates, and asserts turnpike revenues and growth in autos support continued value. He also says only one major issue, West Virginia Turnpike, has failed to perform. He cites labor stability and potential government involvement in widening highways as factors.
The university conducts a program on standards of credit union excellence and leadership, covering basic credit union policies, wealth concepts, money management, and related governance topics for members and staff.
In Cincinnati a 15 hour meeting of about 500 concrete mix and dump truck drivers ended without agreement after a new wage offer from contractors. The plan would raise wages by 35 cents over three years and cut the work week to 40 hours, but fringe benefits were reduced. Local 100 of the Teamsters will consider the offer, with union leaders noncommittal. Mayor Taft seeks mediator input as construction work remains halted.
The week's stock market surge sets new highs across indices with the Dow reaching 516.09, the S&P 50 at 48.69, and industrials at a record 277.30. Chrysler reported record first half sales and earnings while Havey Industries’ volatility triggered NYSE stop order bans. Major gainers include Foster Wheeler, Revlon, Bell & Howell, and American Machine & Foundry.
An arbitration panel of three will review 19 Ohio Consolidated Telephone Co employees discharged for alleged violence during a lengthy strike. Hearings set in Columbus starting August 7, panel members include Ronald Haughton of Wayne University, D Emmett Ferguson, and Marion Judge W Dexter Hazen. The panel may sustain, reverse, or reduce penalties after hearing all cases.
The first half of 1957 in Middletown shows a sharp drop in building permit valuations to 2,586,910 from 3,229,621 in the second half of 1956 and 4,977,401 in the first half of 1956. Commissioner Frank Ludewig cites fewer high priced residences, slower remodeling, and less industrial work. Dwelling permits remain at 100, total permits 440 first half 1956, 307 first half 1957. The June 1957 valuation of 622,591 leads year totals. largest single permit 138,000 for the Greek Orthodox Church.
Lt. James Combs of the Traffic Bureau says any bicycle transfer requires the new owner to purchase a license tag. Tags are sold at Middletown fire stations 8–11 am and 1–6 pm daily except Sunday. old tags must be turned in for destruction. Pedal bikes require a tag, excluding three wheeled tricycles. Violators face Traffic Court for adults or Bicycle Court on Saturdays at 10 am for juveniles.
Thilmany Pulp & Paper Co in Kaukauna Wisconsin plans to start operation of a new 65 inch fourdrinier Yankee dryer as part of a 5 million expansion. The machine, built by Black Clawson in Watertown New York, will be one of the largest Yankee dryers in North America and is expected to produce up to 65 tons daily of machine glazed kraft specialties.
State Treasurer Roger W. Tracy reported prepaid tax receipts totaling $4,525,517 for the week ending June 22, beating the prior year’s $4,446,679 by $78,838. Butler County led with $91,733.07, while Montgomery, Preble, and Warren counties showed declines. The fiscal year total reached $225,701,990 for 51 weeks, $3,286,811 above last year’s pace.
A new study by the Forest Products Division of the Commerce Department analyzes future pulp paper and board supply and demand. Prepared at the request of the Interstate and Foreign Commerce Committee, House Report 573 was discussed at a June 17 public hearing. Copies are 55 cents from Cincinnati U S Post Office Building. In Athens and Rome bankers dealt in foreign bills and deposits.
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