Carrol Daily Times Herald from Carroll, Iowa on March 26, 1976 · Page 15
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Carrol Daily Times Herald from Carroll, Iowa · Page 15

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Carroll, Iowa
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Friday, March 26, 1976
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Page 15
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Five Largest Total $148 Million- Assets of Financial Institutions Increase Assets of five major Carroll financial institutions soared to $148 million in 1975, up from $114 million last year, figures released by the institutions show. With the addition of a second savings and loan association which opened recently, the six major institutions in Carroll had a 1975 total of $183 million in assets. Here is a breakdown: Home Federal- Home Federal Savings and Loan of Denison is the newest addition to the Carroll financial community. Jim White, office manager, and Mrs. Carol Conner staff the office. The savings and loan, with a branch in Missouri Valley and headquarters in Denison, had growth of assets last year of $6,373,033,. compared to one year ago. 65th Year is Marked by P.E.O. "As American as Apple Pie" is the bicentennial year program theme for Chapter EB, P.E.G., which noted its 65th anniversary last November. The local chapter of the philanthropic and educational organization currently has 74 active members, according to Mrs. P. R. Tilton, president. The P.E.O. Sisterhood, started in Mt! Pleasant, Iowa, in 1869 by seven college women, has grown to include 20,015 members in the United States and Canada. Mrs. Tilton attended the 83rd annual convention of the Iowa state chapter last June on the Iowa Wesleyan College campus, where P.E.O. originated. Convention theme was "Let Your Light So Shine." In November, State Organizer Maurine Heilman of Indianola visited local officers at a late-afternoon session and was present at a regular meeting of the chapter. Meetings, which include business sessions and programs, are held the second" and fourth Tuesdays, October through May. Chapter EB contributes to the Supreme Chapter's general projects. One of the most recently-instituted of these is Continuing Education, whereby assistance is given to women in need who are desirous of continuing their education. Most recipients of this assistance have had some college work. Other projects are the support of Cottey College which the P.E.O. owns at Nevada, Mo.; the International Peace Scholarship; the Education Fund, a revolving loan fund of more than $1 million used to aide women in attaining higher education; retirement homes; and a Welfare and Trust Fund for indigent members. The Massachusetts state chapter hosted the 52nd convention of the Supreme Chapter last fall in Boston. A "Boston Tea Party" bicentennial theme prevailed at the parley, attended by 1,415 delegates and 904 registered visitors. Convention members considered 100 amendments and recommendations to the Supreme Chapter's constitution, by-laws and standing rules. Savings were in excess of $29 million and total assets were more than $35 million. E. A. Norelius is chairman of the board, and G. W. Halverson is president. "It is the intent and philosophy of Home Federal that its growth and assets be returned to the community in the form of first mortgage real estate loans in order to provide a sound and progressive financial base for a growing community," according to White. PCA- Assets in 1975 for the Perry Production Credit Association (PCA) were $50 million, an increase from $35 million a year earlier. The Carroll PCA office continued to be the largest farm lender in Carroll County with about $20 million in loans outstanding. This compares with riearly $15 million a year earlier. The PCA office made loans totaling $60 million in 1974, a figure which increased to $87 million last year. This is about $2 million a week and $363,000 each day. Carl Stuckenholtz is first vice-president and Carroll office manager for PCA. The PCA office has a total net worth of $7 million, a $1 million jump from 1974. The Carroll County director of the local PCA office is Leonard Frischmeyer of Glidden. Mid-States- Mid-States Enterprises, Inc. had assets of $12 million, compared to $9,600,000 in 1974. Mid-States, with offices in Carroll, Lake City, Des Moines and Algona, has its leasing office in Carroll. The revolving credit division Timei Herald, Carroll, la. tj Friday, March 26, 1976 « processed in excess of $6 million in charge accounts during 1975. This is a decrease from $8.5 million in 1974. The company added an additional computer in 1975 to help ease the workload. Another, bigger, computer will be added in the future. Dr. R. W. Collison is chairman and president of Continental Western' Industries, the parent company of Mid-States. Robert A. Feldmann is president and chief operating officer of Mid-States. Other directors are Russell S. Wunschel and D. N. Johnson, who heads the revolving credit division. First Federal- Assets of First Federal Savings and Loan Association of Carroll jumped to $37,060,641.01 in 1975 from the 1974 mark of $27,225,655. First Federal deals primarily with first mortage loans — a category which jumped from $22.8 million in 1974 to $31.1 million last year. Deposits were $33 million last year. Interest paid during the last six months of 1975 totaled $964,299.36. The savings and loan has paid $8.3 million in interest since its formation in 1936. The firm now has 7,000 sq. ft. of floor space after the remodeling of the old part of the building and the addition of a new wing. The $338.000 building permit for the project was the largest issued in 1974 in Carroll. Some of the new aspects of the building are a sit-down customer counter, inside garden, two-way drive-in windows and more personnel. The new facilities were opened in mid-February. First Federal has a satellite office in Carroll's Westgate Mall and branch offices in Manning and Lake City. Commercial Bank- Commercial Savings Bank reports assets of $25,043,732.74 in 1975, compared with $21,987,482 in 1974. Deposits last year, including $10.6 million in demand deposits, totaled $22.6 million. A remodeling program and new drive-in banking facility were completed last year. Officers of the bank are Robert M. Moehn, president; Frank J. Liewer, vice president; Patrick Moehn, vice-president; James F. Kerwin, cashier; JackStangl, Dedham office manager; Paul Zimbeck, Lanesboro office manager; and Thomas C. Rogers, assistant cashier. Carroll County- Carroll County State Bank also reported a growth in assets from $19,708,327 in 1974 to $23,881,458 last year. Deposits totaled $21.5 million in 1975 — $11.3 million in demand deposits and $10.2 in time and savings deposits. Bank officers are Joe 'I. Gronstal, president; John F. Gronstal, vice-president; L. A. Pershau, vice-president; Leo C. Schwwers, vice-president; Norma Bromert, assistant vice-president and trust officer; Jerome Rolfes, cashier; Mary E. Jochims, assistant cashier; William A. Vonnahme, installment loan officer ; Sharon Gute, assistant cashier; and Bonnie L. Schug, assistant cashier. Personal Lenders- Personal Lenders, Inc. is a Carroll-based company with Walt Wernimont serving as manager. Wernimont declined to give any figures indicating progress of the firm. Metropolitan Life— Thomas Gaffney of Metropolitan Life Insurance Co. said the total loan volume of his office has increased, as has the size of most loans. The loans are for farm mortgages for the purchase of land and farm improvements. The local office's territory includes the western half of Iowa, southwest Minnesota and southeast South Dakota. The Carroll office employs 15 persons. Financial House— Delbert Patrick is branch manager of Financial House in Carroll. New Fairview School Addition to Be Completed by Mid-July Agriculture continued to play an important part in area business as shown by this newly constructed building just —Staff Pholo west of Carroll. The Carroll Co-op Co. built this fertilizer blending facility just south of U.S. 30 during the past year. Next school year should bring about several changes at the Carroll Community Schools because of work started in 1975. The expected completion of an addition to Fairview Elementary School in mid-July will mean changes both at Fairview and the old central building. Fifth and sixth grades will move to the addition in the northeast part of Carroll. Kindergarten students attending St. Francis' facilities in Maple River and special education students at Grant No. 5 also will be housed in Fairview. This will open up seven or eight classrooms in the central building and help alleviate overcrowding there. Construction at Fairview is more than half completed, according to Supt. Allen N. Stroh. Classes should meet on time at the start of the 1976-77 school year, he said. A composition-type floor will be one of the last things installed, he said. Movable walls have been ordered and will be put up later. The added space will make a juggling of classrooms in the central building possible to give some programs more space or perhaps to add more programs. The new addition, plus the old Fairview, will house all kindergarten through sixth grade and special education students attending Carroll public. The central building will house grades seven through 12. Estimated cost of the addition is $1.297 million. 1,500 Subscribers for Carroll Cable System Pictured is the construction of the newest Bierl Development Corporation apartment building, located west of the intersection of 18th Street and Grant Road. The 1,872 square foot building has four apartments, -Staff Photo each with two bedrooms. The building was constructed with factory cut materials and assembled on the job, Harold Bierl, owner said. Construction should be completed by May 1, he said. Farmland Foods Tells of Operations Growth The Carroll Farmland Foods facility is an exclusive pork canning plant capable of producing about 700,000 Ibs. of canned hams and canned luncheon meats per week. The Carroll plant is a part of Farmland Foods' pork operations with headquarters in Denison. The facility there has the capacity to slaughter and cut up 4,500 head of hogs per day and processes consumer-ready food products such as smoked ham, sliced bacon and pork sausage. Since purchasing the plant from Crawford County Packing Company in 1959, Farmland has completed nine major expansions at the Denison facility. Pork canning operations began in Carroll in October of 1972 after nearly 10 months of remodeling and expanding the former Ocoma Foods Co. building here. Today the plant has 45.849 sq. ft. of facilities and is one of the largest ham-canning operations in the United States. In addition to the Denison and Carroll facilities, Farmland's pork operations also include plants at Iowa Falls, la. and Crete, Neb. Farmland Foods is the food Wiedemeier Expands into New Product Field said. "The demand has been tremendous. We'll be doing more machine sheds as we get time." The company, located just north ol Carroll, has prided itself in improvement. Over the past year, the double weight 25-gauge metal walls of both hog buildings and machine sheds have been color-galvanized and contribute to reducing heat loss problems and deterioration. With the Wiedemeier portable farrowing house and nursery buildings there is not a problem with poisonous gases from stationary waste collection pits or a cold draft from circulation of the gases. Built on wheels, the buildings dtf not require collection pits which means 20 to 30 times less labor, . .,.. ' When the land beneath the building becomes saturated with animal wastes, the entire structure may be moved to a fresh location. The system also reduces scours problems. The Merle Wiedemeier Company which has been constructing portable farrowing houses for four years has diversified into building double car garages which may be modified into machine sheds. The garages are "designed for little labor; they're easy to erect," Wiedemeier said. Sales of the deep-ribbed, double weight, galvanized metal buildings have been limited, Wiedemeier said. Fewer than a dozen have been erected within a 300-mile radius of Carroll, the main market, he added. "You don't rush into new products until they prove themselves," he stated. The building may be erected in less than one day by two men. Customers or Wiedemeier's employes may put up the buildings. "Our buildings can beat even remodeling costs and can be put up without a foundation," the manufacturer marketing subsidiary of Farmland Industries, Inc., a large regional farm supply cooperative — manufacturing and supplying the goods and services used to produce crops and livestock. It now ranks 162nd in the top 500 industrial corporations as listed by Fortune magazine. Farmland Foods started in Denison in 1959 and has grown into a major food processing and marketing organization involving pork, beef, turkeys and frozen foods with seven plants now in operation. The subsidiary, as it exists today, doing nearly $300 million dollars in annual volume, actually started in 1970 when the pork, beef and turkey operations were incorporated into one company under one management team. The Farmland Foods brand name first appeared on the market in 1971. Farmland's beef plant is located in Garden City, Kan. and the turkey operations are located near Cheraw, Colo. The company, through a subsidiary, Farmland Food Services, Inc. in Chicago, produces and markets cooked foods for both food service and retail outlets. Farmland Foods also has a number of scientific programs working directly with livestock producers in improving the quality of their herds. SIGN REDD FOXX NEW YORK (AP) — Metro- Goldwyn-Mayer says it has signed Redd Foxx to star in "Norman, Is That You?" the film adaptation of the stage comedy. George Schlatter will produce and direct. Carroll Cable TV, the most modern cable TV system in Iowa, is also the only one in the state which has standby power capability. The system can be operated for up,to two and oncjhalf hours a day on a battery system if electrical power is knocked out, according to William C. Arts, president of the local company. The system was completed ' and turned on April 22, 1975. About 1,000 households hooked up to the system at the start. Presently, about 1,500 households are hooked up to the system. There are about 2,500 households in Carroll, said a company spokesman. There are rigid Federal Communication Commission rules and city ordinances under which the cable system must operate. Rates which have been set by the company for subscribers are set in franchise and may only be changed with permission of the city council. Rates for the system are $6 Set County Road Budget Road construction will cost Carroll County $681,000 in 1976, the county engineer's office has estimated. The figure was contained in a five-year plan approved by the Iowa Department of Transportation (DOT) and submitted by the engineer's office. In 1975, $413,200 was spent on road construction. In the past, one-year plans have been produced by the engineer's office. However, this year the DOT required a five-year plan. One mile of paving is to be located near Fairview Elementary School, beginning at Grant Road and continuing east. About a quarter mile of paving is scheduled to be laid in front of the Farmers' Co-op Elevator near Arcadia. Carroll, a developer and the county will share costs of paving a two-block long stretch south of Carroll. Four and three-fourths miles of existing paving will be resurfaced, 10 and a half miles of grading is planned and bridges will be built in four townships. Four large culverts also are planned to be installed. The DOT plans to replace the Brushy Creek bridge four miles west of Coon Rapids on Iowa 141 this year. .-,- per month for the first TV in a home and an additional $1 per month fee for each additional outlet. The company pays three per cent of its gross receipts to the 'city as part ofthe • franchisementcost. A $14,0000 weather scanner is used to take weather readings which are programmed on the TV. Arts said the company has what it considered to be the best electronics company in the country build the system. The company has a 260-foot tower west of Carroll. The tower has 11 antennae mounted on it. Also, at the tower site is a 9 by 16-foot building which houses a majority of the company's large equipment. Channel 10, the Carroll station, offers 24-hours-a-day weather service as well as community service programming. Also, the system includes a full band FM. Stations offered in the Carroll system include: KMEG, Sioux City, channel 2; KMTV, Omaha, channel 3; KTIV, Sioux City, channel 4; WOI, Ames, channel 5; WOWT, Omaha, channel 6; KETV, Omaha, channel 7; KCCI, Des Moines, channel 8; KCAU, Sioux City, channel 9; KDIN, Des Moines, channel 11; KVFD, Fort Dodge, channel 12, and WHO, Des Moines, channel 13. The channels offered basically represent only three networks and the educational network, but surveys have shown there is a 62 per cent variation in non-duplicating programs among the stations, Arts said. Paul Collison is secretary-treasurer of the company, Mrs. Andy Carruthers is office manager, Greg Hoffman, systems engineer and Mrs. Jeri White, are company personnel. Carroll district voters approved the addition Oct. 22, 1974, by a 68.66 per cent margin. About six months earlier, voters turned down a request to build the same project. The addition includes 15 classrooms, a multi-purpose area which will be both a lunchroom and physical education area, offices, resource and library center, music room, art room and conference rooms. Much of the addition will be open space, with movable walls to fit classrooms to the teachers' needs. When this school year began, 764 students were enrolled in kindergarten through sixth grades and special education at Carroll public. In seventh through 12th, 713 were enrolled. Another accomplishment in 1975 was the purchase of 27 buses and hiring of 25 drivers in six weeks to handle private school transportation. Dennis Hornick was named transportation director to take care of bus scheduling for the 35 drivers. Sometimes, Stroh said, there are six to eight ball games in one day, when you count all the district's public and private schools. A state law required the change. . In the past, Carroll Community has cooperated with private schools concerning text books, but now the state requires the public schools provide books to private schools. But this additional expense of providing books was offset by the removal of public school teachers from private schools, Stroh said. Share the Carroll Story with Others Send the Carroll Daily Times Herald Progress Edition to Friends and Business Acquaintances Who Might Be Interested in Carroll. Extra copies of the Progress Edition are available at the Times Herald Office or by mail Single Copy Price 40* If we mail the papers for you, there is a 50** mailing charge. The Times Herald — Carroll, la 51401 Enclosed you will find $ (90« each) to send the Times Herald Progress Edition to: Name. Street. City. State. . Zip Code

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