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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Mar 04, 1962
Page
24
Endicott Johnson Shoe Co, a major U.S. footwear maker, posts a $12.2 million loss for the year, plans selling its hilltop estate and an 18 hole golf course to raise cash. The company trims employee benefits and halts various community subsidies while its leadership shift unfolds amid a failed takeover bid by Glen Alden Corp.
Despite Kennedy’s embargo, Cuban cigars remain in demand as smokers and manufacturers adapt. Some firms stockpile for up to two years and seek substitute tobaccos while Cuban imports from the Canary Islands, Canada and Mexico may still arrive. Tampa workers face impact from the cutback as embargo aims to strip Castro of about 35 million dollars.
More than 300 realtors and associates from 13 southwestern Ohio counties will attend the District 5 sales clinic of the Ohio Association of Real Estate Boards at the Manchester Motor Inn. J Vernon Groff Dayton association president opens with 62 Is the Year For You. Luncheon speaker William F Johnston Armco Steel Corp. Topics include Barnyard Economics and ethics discussion led by Wallace Nelgon Columbus. Final speaker Glen Massman Dayton human relations official closes the program.
The fragment notes a land bridge region named Swria linking Asia Africa and Europe across a geographic corridor. It hints at historical tectonic or cartographic significance without detailing events or dates.
Walter Lewis of the Middletown Penney store announced plans for the 60th anniversary of J. C. Penney Co. The chain includes 1,700 retail stores, started in 1902 by James C. Penney in Kemmerer Wyoming with a Golden Rule store. A major celebration is set for around April 4, Kemmerer’s opening date.
Pliny C. Brestel of 3808 Sherman Ave. received a patent application grant and a $50 check from Aeronca with potential $100 further earnings after patent grant. The invention relates to a parachute deployment system for the Upstart target missile tested at White Sands. Brestel now heads tests at White Sands Missile Range as Aeronca pursues multiple patent awards.
James H. Miller advanced from horizontal boring mill operator to management trainee at Manchester Machine Co. He resides at 544 Austin Smith Drive in Monroe.
Readers are invited to obtain a free copy by sending a coupon. The list highlights stocks that have paid progressively higher dividends for the last decade.
Havana dispatch reports Cuba’s main revenue source, sugar, facing a disappointing 1962 crop. By Feb 21, 7.81 million tons of cane had been ground toward a 10.52 million ton goal. An aging workforce and low pay drive skilled macheteros away, with many joining the militia.
The text notes droughts threaten Cuba's economy while the United States cut all purchases, leaving most profit from world prices unspent in Havana. It adds that Eastern bloc barter deals and Soviet-set prices largely determine goods exported to Cuba.
In New York AP reporting on the economy this week the consumer is likened to a reluctant dragon. Analysts debate whether household spending will help lift business or hold it back as indicators show a lull amid tentative gains.
Retail merchants see spring as a rebound driver as car sales surge with about 6 000 units sold in the first 20 days of February and a February total forecast near 460 000 to 470 000. Analysts warn of heavy inventories with about one million cars on hand as steel labor talks enter a second week with cautious progress and hopes for an early contract.
DE BORGIA Montana. Stop by the Keenans in their pine-paneled living room near the Atom Haven Cafe. The 56 year old former builder says they fled New York 15 years ago to escape atomic fear and now run a quiet, shelter free life with summer tourist business in their western Montana town.
J. T. Smith of 19 Magnolia Drive was named dealer of the year by the Dayton Dive-N-Sky organization. He received a plaque at a recent ceremony recognizing his contributions to the local scuba diving gear trade.
W D P Carey of Packaging Corporation of America told the Cleveland Society of Security Analysts that the paperboard industry has moved beyond the recession and should see new highs in business volume and profits. He projected fiscal 1962 sales of 142 million and net earnings near 6.5 million or 1.65 per share after preferred stock dividends, with 7 cents per share last year. The firm plans 7 to 10 percent price increases on corrugated and solid fibre containers starting Thursday from its Middletown plant at 1824 Baltimore St.
Marsh Supermarkets announced the sale of five Piedmont area stores in North Carolina South Carolina and Georgia to Winn Dixie. The move ends Marsh operations in three southern states while Indiana and Ohio units continue expansion with about 19 new stores planned.
The Plas-Tainer Inc. unit of Hoover Ball and Bearing Co. in Ann Arbor Mich is renamed Hoover Containers Inc. Board chairman Clifford Simmons announced the change. Hoover Containers makes rigid formed packaging containers with plants in Saline Michigan, Tampa Florida, Baltimore and Chicago.
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