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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Oct 08, 1966
Page
9
In the Elyria Lorain Medina County Area Business News, the index hovered around its all time peak for the fifth straight week at a strong 158.0 plus. Gains and losses remained mixed as output dipped 2.2 percent week over week but stayed 4.8 percent above the same week in 1965.
The index drifted as electric power fell 1.8 percent from the prior week while remaining 1.9 percent above the year earlier level. Steel eased, intercity rail down 1.1 percent, crude oil rose 0.4 percent, and overall output gains offset these dips. Auto output rose to 185,609 units, up 7.7 percent year over year and week over week, with freight movements up 5.4 percent from a year earlier.
Donald T. Turner of Avon Lake was named Mortgage Loan Representative for Lorain County by Panohio Mortgages Inc. The 15 year mortgage veteran will help serve brokers builders and investors in the region. Panohio, in business since 1917, services 135 million in first mortgage loans for 25 investors with offices in Columbus Cleveland Dayton and Cincinnati.
County Recorder Leota B. Mitchell reports slower recorded activity last month with 582 city deeds and 93 agricultural mortgages versus 619 deeds and 96 mortgages a year ago. Chattel mortgages totaled 814, while agricultural land plat activity rose 114 across subdivisions including Hillcrest No 1 and Cresthaven No 6 in Elyria Town.
In Columbus Ohio state chartered savings and loan firms boosted mortgage portfolios by 118 million and other loans by 12 million amid a tight money period. Total assets reached about 6.132 billion as of June 30 with 11 percent held in cash and investments, while net worth stood at 8.7 percent. In the same period Ohio coal and mineral output rose markedly and the mine safety record improved with eight fatalities in 1965, a rate of .20 per million tons mined, well below the national average of .49.
Akron Ohio AP Goodrich Co. will produce a folded space saver spare for 1967 model passenger cars that fits in half the trunk. The tire remains uninflated until inflated by a tube or air hose, expanding to full size. It saves room enough for an extra suitcase and may permit relocation of the spare to the fender or under hood area.
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