St. Louis Post-Dispatch from St. Louis, Missouri on January 11, 1970 · Page 108
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St. Louis Post-Dispatch from St. Louis, Missouri · Page 108

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St. Louis, Missouri
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Sunday, January 11, 1970
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Page 108
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811 ST. LOUIS POST-DISPATCH Sun, jaQ. 11, 1970 Emerson Will Stress New Product Search An intensified search for new products consumer and industrial will be an important objective for Emerson Electric Co. as the diversified St.. Louis-base d electronics firm moves into the 1970s. Addressing h i m s e 1 f to this concept, W. R. Persons, chairman of the board and chief executive officer, said in Emerson's recent annual report, "The challenge of the '70s for major American companies is internal growth with new and unique products and systems, produced more economically and with more quality than can be achieved by either the competition or the customer. The Emerson objective is to meet that challenge." Emerson engineers are at work on a broad frontier of product research and development which many new concepts are drawn directly from the environmental needs of society. Special Areas For example, the company has focused on such items as waste disposers that can accommodate bottles, cans and other types of "throw away" packaging, mobile home sewage systems, and control devices for automotive air pollution equipment. A spokesman for E m e r s o n notes that one area of new product development that appears to hold particular promise is that of "packaged" heating, cooling Ostertag Optical Has Biggest Year Of Growth By THOMAS F. OSTERTAG President, Ostertag Optical Service, Inc. Consummation 1 n November of a merger with the C. C. Caldwell Optical Co. of Kansas City capped the biggest growth year i n Ostertag Optical Service's history a year which saw 20 new locations added to our 11-state network of stores and laboratories. The additions Increased the total number of locations to 58, including 12 in the St. Louis area. More important, the y e a r 's rapid growth enabled us to ac-c e 1 e r a t e our timetable for a planned public stock issuance. This is now expected within the next 24 months. New retail stores opened in 1969 include our new Lansdowne Medical Building store, our twelfth store in St. Louis, opened In February; a store in Paducah, Ky., our first in that city, opened in May; a second store in Little Rock, Ark., opened in June; and one in hi . .: " . iN m raft !; s.vi iv. . ; t m i i.ia suttf tin? iri fmm mm Hlili For business or pleaivr rerv h "Hospitality Route". . . then travel itl It's a comfort to know before you go that evening will bring the fireside family atmosphere, fine dining, and consistently good lodging of Holiday Inn. Whenever, wherever, however you travel, for fast, free advance reservations, CALL . . . TOLL FREE ":';v"i W. R. Persons and electrical components for the home building industry. The units would "snap in" to new mass-produced homes and could be installed by unskilled workers. Emerson has joined a group headed by Republic Steel Corp. of Cleveland to d e v e 1 o p new techniques of mass-producing homes for families with low and moderate incomes. ' , $628,427,000 Sales Emerson sales in the fiscal year ended Sept. 30 were $628,427,000, compared with fis cal 1968 sales Of $583,899,000, a Kansas City's Blue Ridge Mall, the city's biggest shopping center, also opened in June. In addition to Caldwell, which operates eight stores, Ostertag acquired Vollmer Optical Co., Independence, Mo., in March; Physician's Optical Co., operator of three stores in San Rafael, Calif., in August; American Optical Company's laboratory in Paducah, Ky., in September; and a majority interest in Speer, Killmon & Evans, operator of two stores in Denver, Colo., in November. The Caldwell acquisition gives a boost to our thriving wholesale business, also. Caldwell op erates a wholesale laboratory and is actively engaged, as we are, in the manufacture of industrial safety glasses and the distribution, installation and maintenance of ophthalmic equipment. The Caldwell merger is further significant because it gives us representation in the last major Missouri population center in which we did not have coverage Springfield. 1 - imiin J'li' 1 . drill's vk.!? - i'" '' Y ' ? .1 ' " ,r., gain of 7.6 per cent, after restatement on a pooling of interest basis for c o m p a n i e s acquired last year. Net earnings in f i s c a 1 1969 . were $49,935,000, or $2.02 a common share, a 1 1 o w i n g for full conversion of preferred stock, compared with $1.83 a common share in fiscal 1968, again allowing for full conversion and a restatement of earnings based on pooling of interests of firms acquired last year. It is 'expected that the emphasis on product development and internal growth will dampen the prospects for major acquisitions by Emerson in the coming year. The company has become in-creaslngly selective in the merger market in recent months and Emerson's management noted recently that the company "has reached a size and financial strength that permits rather sophisticated developments in engineering manufacturing and marketing." Few Acquisitions Last year Emerson acquired only two major firms: Browning Manufacturing Co. of Mays-ville, Ky., and Fisher Radio Corp. of New York. Both were acquired early in the year. Emerson also acquired two smaller firms, Alco Controls Corp. in Hazelwood and Quality P r o d u c t s Co. in Clarksville, Tenn. A m o n g the more Important secondary objectives of Emer 97 YEARS; EST, 1873 St. Louis' Oldest and Largest Loan Co. Our 97th Year DIAMONDS JEWELRY BINOCULARS MUSICAL INSTRUMENTS WATCHES J EXPERT WATCH AND JEWELRY j I REPAIRING I L J CONVENIENT TERMS ARRANGED UNN' 801 PINE ST. if k. lJiJrei.'..'. '('! o f-C .J' '4H!r. Mft Uft M OH. 800238 - THB WONLO I W f son's management in 1969 was an intensified program of cost control and improved operating efficiency. The company's annual report notes that the margin of profitability the ratio of pretax earnings to net sales climbed from 15.5 per cent in fiscal 1968 to 16.8 per cent in fiscal 1969. The ratio, generally regarded by financial analysts as a guide to management efficiency, has risen steadily since fiscal 1961 when it was 9.4 per cent. Emerson, which spent $23,946,000 for plant, office space machinery and equipment in 1969, currently occupies owned and leased facilities with a total area of more than 9,700,000 square feet. The company occupied about 8,300,000 square feet of area at the end of fiscal 1968. In terms of 1968 sales, Emer son ranked 187th among Fortune magazine's list of 500 largest industrial firms in the United States. The company is the seventh largest firm in the St. Louis area in terms of sales. Buys Coal Company Dow Jones Newi Service (HOUSTON, Jan. 10 - Gulf Resources & Chemical Corp. said it completed the previously-proposed acquisition of C&K Coal Co., Clarion, Pa., for 624,223 common shares of Gulf. Since 1873 8TH and PINE 5 SHOTGUNS, RIFLES, ETC. RADIOS, LUGGAGE AND SILVERWARE j DIGNIFIED AND PRIVATE FACILITIES ARE PROVIDED FOR LOANS 231-5136 "''df lit'! h l..'.l"WJI! . Li I. ' A i ' zik mm Wm m 5222 jL kill! TIIN IP Lumber Output May Increase Special to toe Pot-DUpteh WASHINGTON, Jan. 10 -Lumber production this year may increase S per cent to 38.5 billion board feet, assuming that residential construction will at least maintain the 1969 level, the United States Department of Commerce reported. Imports may decline without the stimulus of the high prices paid in the early months of 1969. Domestic production last year was about 36.8 billion board feet, a slight decline from 1968. Intertherm Income Net 1 n c o m e of Intertherm, Inc., formerly International Oil Burner Co., in the 39 weeks ended Sept. 26 was $1,198,000, or 69 cents a common share, on sales of $29,601,000. In the comparable 1968 period, net i n c o m e was $788,000, equal to 46 cents a share, on sales of $21,017,000. i3iuii a Minium iu suae. sinltiiiUnnUinni mmmmumii mmmmm Or gain. Mil MmBMmM ? t ? i, l ! l i '. 4 M ( 1 1 4 ' ii mm 81 lltf 1 i usWWKh mi jolii jill lllliiiiiiiiii Ww m m il l liii Mm mm I i Mi? i i W i i ? i i ? (''MZ.'w'MO'- ?Wdnl 'ft tit A jai (hat ftii4F4nt.a iuKai, umi Kjiii m ' . ; . 4 K J t j u 1 i I 7 s !?.?? IMHWanl 'ft ma 'unn that rrtiarantoo uuhn urut Kiiu in. i l i ': , , Ki 5 1 1 i 1 1 i ApriitrnnS timMMM If It h llllmtyiVi'v month t' An average of two seconds a day; Other jjiHIJ ii;i;if:ii!i:s watches havetheirown notions about Mw long : M;iJH'l'i .)!.!'.! V '. V? J.. l 1.1 l 1' imm 5 p mmn nmmn liiiteiWiiiii mmmme i ;m& .' 7 4 7 ' s -v ? o :: s v v v Vi ;. v o n iWnllVi'm-' mriWwi isi, uniiini iiiejr jii'?!ii2f5ii hours and 56 minutes. Of make It NORTHUNDSOUTH COUNTY ( jeir ft llurd of ticinlury ti.-fH WEST execs? 'i Rm.- A Chamber Pushes Area By M. A. ATKINSON JR. Executive Vice President, Chamber of Commerce of Metropolitan St. Louis Total community development on a regional basis remains the No. 1 goal of the Chamber of Commerce of Metropolitan St. Louis as we move into the challenging 1970s. Strengthening of the economy, unification of effort for the orderly growth of the metropolitan area, respect for law and order, education, improved transportation, the American free enterprise system, a new convention facility, additional airport facilities, are just a few of the projects the Chamber will continue to work for. Personal Involvement The Chamber is confident its goals will be realized in this new decade because it now has the personal involvement of the community's business and civic leaders plus a competent staff. The Chamber is confident metropolitan St. Louis will grow and prosper in this decade. Economic and industrial development in metropolitan St. : '. I h I1: ViVlVl. IB (! 14K so)ld'gold''i!; - 4i.' S275.,; ;.w . iv!!ij; : j ? t i s t ? j j j p 5 ! li iHijiH mm P m ! m I ; i ! s ihm i i i ; acriirat to within miniitp mUinnHit .1 .1 1 A mm vm m : . : ;. : : ? : : : y COUNT? - k 8D fin SEED) mwm Louis continues to Improve. During the last two years, more than $600,000,000 was spent on new and expanding industries. The Chamber played an active role in many of those development projects and will continue to do so in this new decade. Establishment of Six Flags Over Mid-America in St. Louis County is a prime example of the Chamber's effectiveness, and there were many others. Many Firms The Chamber is working with many firms representing varied industries, which are planning to move into the metropolitan area, or are planning to expand current facilities. One of the more exciting projects undertaken by the Chamber in 1969 was the first Medal of Valor Awards luncheon, held to honor heroic metropolitan area police officers. More than 1100 persons attended this event that will continue to be held annually. An active legislative program, locally and with the state government, resulted in the Chamber taking positions when neces- 1,000 to SOLVE FINANCIAL MOM AVAILABLE FORLOANS MERCHANTS ' MANUFACTURERS REALTORS DEVELOPERS INDUSTRIALISTS Call or Visit CITIZENS BANK OF UNIVERSITY CITY 1 8021 Olive Blvd. 993-6040 F.D.I.C; "il Full Service Bank" Qa Oiippll 80 $ aat-xit uii join t, Goals sary, and then speaking out on those positions. Thirty-four committees were active in Chamber work this year and most will continue to be active in the 70s. As. new problems and projects emerge, the Chamber will add to its program. .Z The Chamber began preparing itself for the new decade two years ago by rewriting jfs bylaws, streamlining the board of directors and reorganizing the staff. .,..,' INDUSTRIAL BUILDINGS r Warthouse, Factories & j' Offices To Suit Your Need' Will Build for You or Lease Back -j Available Now r EU 9-9700. MIDWEST ENGINEERING & CONSTRUCTION CO.. s150,00000 YOUR i PROBLEMS E oi ii

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