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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jul 28, 1978
Page
15
MCA Inc bought 165,500 Cedar Point shares, about 5.3 percent of the amusement park’s common stock, signaling possible merger discussions with Cedar Point management. Cedar Point CEO Robert L. Munger Jr. noted the move while authorities assess antitrust implications.
The note asks if your current insurer is licensed in the destination state and whether the move requires switching to a licensed local carrier. It highlights verifying licensure and compliance with new state requirements for ongoing coverage.
Trustees of Penn Central asked a federal judge to set an early September date to wind up the nation’s largest corporate bankruptcy. Judge Fulham would oversee a final reorganization plan that aims to satisfy about 3.7 billion in liabilities through cash and stock, with Penn Central renamed and operating via subsidiaries.
New York stocks opened mixed as the Dow fell 34 points to 850.23 after gains, while advances slightly outpaced declines on the NYSE. Fed data showing a $2.8 billion money supply drop clashed with a 0.9 percent June CPI rise, and gold rose above $200 as the dollar weakened.
The Joseph and Feiss Co will return to the German Building in Lorain in September, reviving a facility it occupied in the 1980s. A company official confirmed the move from its current address at 145 Keep Court.
Lorain National Bank reports record assets deposits and loans at mid year with total deposits up 12.3 percent to 144.3 million and loans at 98 million up 16.6 percent. Resources reach 159.6 million as earnings rise 7.5 percent to 631 thousand and per share to 1.76 amid a growth expansion program including an Amherst office remodel and a MoneyMate 24 hour teller.
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