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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Jan 17, 1980
Page
5
Insure collectibles separately via scheduling and floaters attached to homeowner policies. Keep valuations up to date, obtain expert authentication, and report acquisitions and sales promptly to adjust premiums. Forgeries exist. provide detailed descriptions to agents and store copies safely. Also notes on Noland Co dividend and rising worker-hunter figures.
John Cunniff notes the 1960s stock boom faded faith in paper money as investors move toward real assets like real estate oil metals and trees. Hoarding gold silver platinum copper links to resource stocks, yet buyers cannot consume or convert their holdings into products.
The American Stock Exchange admitted Crown Central Petroleum Corp. Series A cumulative convertible preferred stock to trading under symbol CNP.PRC WI. The issue opened at 54 44 on 100 shares. Crown’s Class A common trades as CNP.A and Class B on a when issued basis moved to regular trading as CNP.B. Crown operates refinining in thirteen eastern states plus Texas, with a Texas refinery capacity of 100,000 barrels per day and exploration in the continental U S including Gulf of Mexico offshore. The firm also holds coal interests in Virginia and Kentucky.
Frederick businesses report miscellaneous updates with a focus on local commerce. The brief covers market movements, small business activities, and upcoming economic events in Frederick Maryland on Thursday January 17 detailing notable local enterprise developments.
First American Bank of Maryland reports 1979 income before securities transactions of 2.53 per share and net income of 2.327 million on assets of 300.054 million. Deposits totaled 285.077 million, with 1979 results topping 1978 and prior years. Quarterly results show 670,000 income before securities transactions for the just ended quarter, up from 571,000 in 1978. The firm cites a 14.5 percent rise per share for the year and the highest earnings level in its history. The office is on Baughmans Lane, Frederick.
Ike Fogel of Classic Corp. in Jessup says millions seek waterbeds with 9 million units in U.S. homes and California dominance. The firm operates plants in Beltsville and Thomasville, selling since 1970s with 750000 units sold and last year’s revenue of $12 million, aiming for $16 million this year. Also notes Bell Labs remote switching system enabling rural custom calling options.
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