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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Nov 07, 1961
Page
3
A reader asks why a Sperry Rand dividend declared for Sept 29 1961 did not go to a buyer who traded August 10 1961. The answer explains record dates ex dividend settlement rules and the need to settle by August 16.
National Gypsum Co. says third quarter sales 65.99 million dollars and earnings per share 1.12, down from 1960. Nine month earnings 16.84 million dollars or 2.62 per share, down from 18.68 million or 2.98. The company plans 25 million dollars in capital expenditures for 1962 and projects 60 million housing units in five years.
Twenty five years ago the Lorain County courthouse planned a full interior cleaning and renovation with a $4 019 cost funded by federal money. Lorain County taxpayers began payments toward a $1 000 000 federal fund for a new bridge on Ene Ave in Lorain. Mayor Thomas Conway paused his election duties while his daughter sustained a broken leg. Nearly 4 000 farmers gathered in Ca. The Associated Charities hosted events in Venezuela and formed a farmers congress with advisory committees to address next year’s problems.
The city council approved vacating portions of Fillmore Street north of Belmont Street, Courtland Street at the turnaround, and Williams Street north of Buckeye Street. An ordinance also changes Second Street Alley to Commerce Court. Harvey Altfeld spoke at hearings urging Williams Street action for added tax revenue while noting plans to fence railroad property to keep children off.
The GOP swept most city offices as Mayor Henry W Ault won a third term. Elyria voters approved a 2.5 mill school operation levy for five years and a two mill levy for current operations. The county half mill levy for one year to fund building improvements passed locally but failed overall.
Gary Sabo son of Mr and Mrs Theodore Sabo 334 Longfellow Sr is a junior at Purdue University elected vice president of his class and to the Junior class cabinet He is a premed student on a partial scholastic scholarship and a member of Acacia Fraternity He previously served as varsity football team manager during freshman and sophomore years and was Elymia High School class of 1959 vice president and a former Chromed-Tel-telegraph carrier
In a North dealer contract with North-South vulnerable the 14 bid passes to 2 and 3 and then 3NT follows by the sequence. East shows no action and West remains passive as the final contract 3NT is reached.
The report describes a bridge hand where West opened diamonds, declarer won with the queen, and South attacked clubs to maximize tricks. East shifted to hearts after the sack, West discarded a diamond, revealing no interest in that suit. South then pressed spades, but West's cover on the nine of spades and a 3-3 break left declarer unable to take more than eight tricks.
The City Council approved an ordinance to pay Lo tham County Welfare Department half of 25 000 with an emergency clause. Councilman John Katko opposed advancing full obligation now while the finance committee plans to pay the remaining 12 3500 before year end. Other measures include park funds transfer for year end spending, downtown waste receptacles with advertising panels, and a new tractor and mower with trade in not to exceed 800.
Kenneth Bryant, 18, Milan, was placed on two years probation in common pleas court for driving a motor vehicle without the owner's consent. The charge was reduced from auto theft to a misdemeanor due to a new state law. Bryant pled guilty before Judge James L. McCrystal on Sept 21.
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