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Steel. (Continued from Page One) Institute reports the industry's outlay for capital improvements in 1968 was a record $2.5 billion. It was the third consecutive year that capital improvements went over the $2 billion mark. While steel companies have generally relied on internal cap ital for improvements, Slesing er notes the price of steel stocks has remained steady over the past eight to ten years. Last year's figures are not yet available, but Iron and Stein In stitute figures show the indus try's 1967 total revenues around $17 billion. That resulted in net¢ incomes of over $800 million which returned dividends of more than $490 million to some 1.5 million stockholders. All of this has lead some ex perts to predict the industry will, sharply curtail future capital in vestment after 1970. Most of the companies start ed diversifying last year. Indus try sources attributed the move , to increased labor costs, brought on by the highest United Steel workers union contract ever ne gotiated, and increased foreign imports. (Journal Photos by Johnston) ‘The industry, sources say, was caught in a squeeze between high production costs and the neces sity to reduce prices. But now analysts say the world may be on the verge of a steel boom as orders continue to roll into mills above antici pated levels. And foreign pro ducers have voluntarily limited imports to 114 million tons of Eleven members of the Corry Area High School Future Farm ers of America were honored at a dinner at the school cafe teria last evening with Ivan Chaffee being named the Chap year. One of the top awards went to Steve Gates, the outstanding senior FFA member, who re ceived the Dekalb Award for scholarship and leadership, a medal and certificate. He plans to go into business with his father after graduation from high school. Winner of the Chapter Star Farmer, Ivan Chaffee, was chos en by fellow FFA members bas ed on the scope of his farm proj ect and leadership qualities in award was a $25 check and a medal. Michael Sekerak won his ‘Star Greenhand Farmer award based on his farming programs, a medal. Both were given by 'Magine Bank. Five youths received farm project awards: Wayne Mick, beef; Dennis Lindstrom, swine; Steve Gates, dairy herd; Daniel Reed, truck gardening; Larry Kalika, dairy calf. All received medals from the state and checks from the National Bank of Corry. The main speaker for the eve ning was William Ketner, of the Bureau of Markets, Pennsylva nia Department of Agriculture, who spoke on “The Importance of Agriculture.” FFA foundation awards of medals were presented by Ralph Swart and Wayne Mick to Den nis Wade, dairy; Ivan Chaffee, forestry; Mike Kuzma, live stock; Robert Graves, home im provement; Wayne Mick, farm mechanics, and Robert Cmiel, agri-business. Star Greenhand and DeKalb awards were handed out by Wil liam Ellison, teacher, and George Smith of the National Bank of Corry. ‘The Chapter Star Farmer award was presented by Lyle Hotchkiss of the Marine Bank. Leslie Curtis gave a talk on the Adult Farming Association activities on the state level. Entertainment was furnished by the “Summit Valley Boys,” and the welcome was by LeRoy Peck, and the invocation by Dennis’ Wade. Refreshments were provided by the high school cafeteria staff, steel a year. What affect this will have on future diversifica tion remains to be seen, The Spoken Word Is Like the Air The Printed Word Is Always: There. Star Farmer William Kenner, left, direc tor, Bureau of Markets, looks on ad Lyle Hotchkiss, repre senting the Corry Citizens Of fice of the Marine National Bank, right, presents the Chapter Star Farmer Award to Ivan Chaffee. Michael Sek erak, second from left, receiv ed the Star Greenhand Farm er Award. Outstanding Member George Smith, representing the Corry National Bank, pre sents an award to Steve Gates, who was voted the outstanding senior Future Farmer of Am erica member. Wayne Mick, left, received the FFA Founda tion award, and Daniel Reed, right, was a project award
Newspaper Details
Corry Evening Journal
Corry, Pennsylvania, US
Wed, Apr 09, 1969
Page 4
Full Page
Clipped by
Claire Y.
USA 10 Jul 2026
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