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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Mar 07, 1959
Page
11
Some production employees of Lorain Works National Tube Division of US Steel Corp are not members of Local 1104 USW. In minds of the average reader the question comes to
Perry Fay Co. reports 1958 sales of 1,903,409 with a net loss of 46,535 due to weak orders. Dividends of 25 cents a share were paid in Q1 last year, but none thereafter. The piece notes union shop dynamics at National Tube and labor contract forms affecting a small non union segment among 8,000 workers including about 200. Local 1104 expresses ongoing upset as USW contract nears expiration.
Local 571 Teamsters Local 129 Electricians and Lake Erie District Carpenters set meeting days. 1957 net income reached 23671 with 1958 equipment costs of 19200. Perry cites method and personnel changes cutting costs and lowering break even, inventories reduced, backlog rising. Local 1104 plans to pressure nonmembers to join amid talks with steel industry. union broad statement warns against weak spots. Russ Reisinger attends Harley Reese testimonial in Columbus after chamber events. coverage of Ohio chamber program for efficiency and admin policy.
The piece notes that U S males spend about 350 million annually on hair grooming products aimed at restoring hair. It also mentions a portion of men battling hair loss and forecasts related market activity. It also covers restaurant plans on Route 20 and a hotel conference in Toledo.
J A Frates president of Pudge Tool Co says this year looks like a good one. Ridge Tool held steady amid the 1957 58 recession with no records posted. Henry Ford II criticizes AFL CIO saying it acts less as an economic body and urges freeing unions from monopoly power to restore bargaining balance with management.
Lorain Banking Co at 600 Broadway rose 71 places among the 1,100 largest banks in the United States last year. The American Banker of New York lists it at 1,002 with 14,000 banks in the nation. Deposits totaled $23,900,716 as of December 31.
A Bureau of Labor Statistics report shows fewer work stoppages in 1958 than 1957 but with higher costs in workers involved and total man-days lost. A postwar low of 3,400 stoppages affected 2.2 million workers in 1958, compared with 1.39 million in 1957, totaling 23.5 million man-days of idleness versus 16.0 million in 1957.
New products from America in recent months showcase quirky innovation. A first adjustable electric shaver called Roll-A-Matic lets users tailor blade exposure by a tiny control panel. A light minder warns when car lights are left on by flashing words on the dial after engine shut off.
A disjointed clipping notes East Bank of the Mississippi checks drawn with signatures like U. R. Stuck, cited by the FBI as part of a national bad check racket. The bulletin calls fraudulent check passers a growing pestilence, urging victims and merchants to aid in the crackdown while unrelated items about local meetings and products are mentioned in passing.
New York dispatch reports economists foresee 1959 as the most prosperous year on record with all major indicators pointing higher. Dow Jones averages pass 600, construction dollars rise to new highs, and gross national product and national income are expected to set records.
George T. Yarmock of Amherst has opened the Lorain County Vacuum Cleaners Co in Elyria placing the shop on West Broad Street opposite the Lincoln Theater. He leases space from William Seghy and brings a decade of experience handling 14 brands with parts and service for all models. Yarmock previously ran a similar firm in Wellington and oversaw a Lorain vacuum cleaner business for five years.
Lear Inc. receives a 3 million order from Boeing for coordinate converter systems to be produced at Lear Grand Rapids plants. The project follows a 20 million total so far in the division’s output. A traveling training school will visit the area next Friday to study new thermostat devices for gas appliances, led by a Robertshaw Fulton instructor.
Mrs Edith Graham, longtime manager of the Ver Milion Kroger Co for 15 years, has resigned the post but remains with the firm as cashier for a period. James Barnes of Elyria, a Kroger employee for 10 years and former assistant manager at Shoreway Shopping Center, has succeeded her.
National Air Lines asked the Civil Aeronautics Board for permission to cut night coach rates by 24 percent for a four month trial beginning April 20. The plan would set air travel at about three cents per mile, with example fares of 35 dollars 10 cents for 7 100 miles New York to Miami and 2135 dollars for Washington to Jacksonville. The reduced rates would apply on Mondays Tuesdays and Wednesdays nights to Boston Philadelphia and Florida cities including Jacksonville Tampa Orlando St Petersburg and Clearwater.
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