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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Mar 14, 1959
Page
8
A sole owner considers investing twenty thousand dollars for growth versus income. The analyst warns market levels may be high relative to earnings, suggests caution, and compares a 16 times 1959 projected earnings multiple to the Dow Industrial Average with recent highs.
A new Drive In restaurant will be built at the former Spitzer Used Car Lot at Cleveland Street and Bellfield Avenue in Elyria, part of a nationwide McDonald’s rollout. Franchise Realty Corp. will lease the site for a 125000 dollar unit with about 30 employees, featuring a self service setup and standard menu. no juke boxes or carhops.
Eldotread Co at 107 Broad St advertises crankshaft reconditioning as an economical alternative to replacement. The process restores bearing surfaces and alignment for connecting rods and main bearings, saving time and shipping costs while ensuring precision. The ad notes mechanics use high precision machines to achieve exact tolerances.
C B Smythe, president of Thew Shovel Co, predicts first half 1959 sales will rise 15 to 20 percent from late 1958 levels. A 15 percent gain would lift sales to about $12 million from $10.4 million in the July December period. Dividends on common stock are not expected until the latter half of 1959 after 1958 saw no dividends beyond the first quarter.
Gold Jen Hamburger Drive In Corp officials announce plans to build 51 units nationwide valued over 5 million. W Edward Devine of North Olmsted named as one of two franchise directors for northern Ohio. Elyria unit location to be announced after contracts close. Sites leased, not purchased.
Rassler Realty Co of Elyma brokered an 850000 investment purchase of the four story Park Chester Medical Building in Cleveland. The 25000 square foot, air conditioned property with elevator service was sold by Park Chester Co to 10605 Chester Co led by Jack Mandel of Premier Autoware. Tenants include 50 doctors and dentists with offstreet parking for 200 cars.
The West Cuyahoga Coin club will hold a meeting and auction on March 25 at 8 p.m. in the Coe Memorial Building at Butternut Ridge and Lorain Roads. Displays will be shown and the public is invited.
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