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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Oct 01, 1973
Page
6
An AP report notes many firms show takeover signals such as low price earnings ratios and weak earnings. Coopers & Lybrand highlights targets may trade below book value, with concentrated ownership and excess debt enabling easy acquisitions, while European buyers grow active in the U.S. market.
Prices in the Canadian export sector rise as softwood kraft pulp gains 25 a ton to 235 in Canadian and U S markets. Fine paper prices up about 16 percent. Bowater seeks 15 a ton newsprint rise from January 1 with a possible extra 10 later in 1974. Hardwood kraft pulp may rise 27 to 205 Canada and 210 U S.
Ronald L. Garver of Middletown promoted to trust officer by First National Bank board. He has served since 1964, previously customer service manager and assistant trust officer, with ties to Miami University and Ohio life underwriters group. Board also notes Donald Osborne resignation and increases quarterly dividend to 37 cents payable Oct 5 for record date Sept 25.
Wall Street rose near opening as the market retraced Friday losses and continued the broad upward movement. The Dow Jones industrial average edged up with more advancing issues than decliners.
Livestock in Cincinnati shows slaughter steers steady to $1 lower for heifers, cows and bulls steady, hogs up to 25 cents higher with mixed demand. Weaners scarce, small loads of steers and heifers approaching arrival. A circus employee from England, Harry Yelding, uses 22 foot stilts in his act, claimed tallest mastered.
A total of 178 scouts from Middletown Monroe and Trenton took part in the Wanita Coup weekend event at Camp Hook. The Rat Patrol of Troop 11 sponsored by the Fraternal Order of Eagles Middletown won the 10 contests after leading with scoutmaster Dick Weber assisted by Richard Weber Jr and Robert McCray.
Washington AP report notes a proposal to more than double tuition at publicly supported colleges and universities. The plan by the private Committee for Economic Development draws strong protests from student groups and officials. Allan W W Ostar of AASCU calls it a direct attack on middle and lower income families. Layton Olson of the National Student Lobby labels it a severe blow to publicly subsidized higher education.
Joseph W. Johnson aged 22 of 1100 Baltimore St was cited for careless operation after his car left the road and entered a yard at 3504 Glencoe Street. The crash at 3 20 am caused 1100 dollars in vehicle damage and 300 dollars to John Kramer property. He was later found at 3405 Glencoe Street.
The U S Parole Board denied parole to former New Jersey Representative Cornelius E Gallagher. It ruled he must serve his full tax evasion sentence and stay in federal prison at Allenwood Pennsylvania until his term ends January 24 1975. No reason was given for the decision.
U S Rep Chalmers P Wylie reports on the IMF annual meeting in Kenya saying the conference may help the United States. He notes no reform talks but cites support from Germany Canada and France for the U S dollar position in the world market. He hopes to be better positioned by next year to effect beneficial change.
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