Galesburg Register-Mail from Galesburg, Illinois on July 19, 1973 · Page 14
Get access to this page with a Free Trial

Galesburg Register-Mail from Galesburg, Illinois · Page 14

Publication:
Location:
Galesburg, Illinois
Issue Date:
Thursday, July 19, 1973
Page:
Page 14
Start Free Trial
Cancel

14 .folgjbuffl J^l^j ^l ^lejbufo,1II. _ ThurgdQv, July 19, 1973 i i I v > Butter Manufacturing Co. re; ported today that sales tor the S nt halt of 1973 were $104,208,.M compared to $81,815,000 in : f .rl#W. Net earnings^ere $5,002,• 0000 for the first half of the year gainst $3407,000 in 1072. ; In a report to shareholders, President George C. Dillon said, „ ''Economic demand for all of ; $ir products remains at an ex- tremely high level and we con^ Unue to be able to make the ,,most of that opportunity. Second quarter sales increased 24 9 s Sales, Earnings Soar per cent from a year ago and net earnings were up 70 per cent. For the first six months of 1973 versus the same period a year ago, sales increased 27 per cent while earnings rose 83 per cent. "During the first six months of this year the pre-engineered buildings industry experiencd an unusually large increase in sales," Dillon said, "Compared to the same period in 1972, industry sales, for the first half oS 1973 are estimated to be up 40 per cent. Our domestic buildings business increased by about the same amount and pro- v vided the largest dollar increase to the company's first half earnings." Dillon went oh to say, "Our Agricultural business continues to perform at a very high level of activity in farm buildings, grain storage, dairy and beef cattle feeding equipment. Sales and earnings for the six months exceeded the high levels of the same period a year ago. Despite poor spring planting conditions, we currently anticipate strong demand for farm storage of grains. A new three year labor agreement for the Jamesway plant was negotiated in early April. ' Dillon went on to say that International business continues strong at all three subsidiaries in Canada, the United Kingdom and Mexico. Me expects higher earnings for the year and a larger contribtuion to total corporate earnings that 1972. Firm: Sales, Earning Hit ^ Santa Fe Industries, Inc. re,,ported record revenues and net ^income for both the first six months and the second quarter r of 1973 in an announcement .made today by John S. Reed, 'chairman and chief executive officer. Sales and revenues of this ^transportation-natural resources- real estate company rose 25 I per .pent over the first six .months of last year to a new , high of $570.4 million, while r net income rose 20 per cent to ,L $43,9 million. The resulting rec- , prd earnings per share of $1.72 compared with last year's $1.47. The 1973 amounts include Robert E. McKee, Inc., a general construction contractor acquired in January 1973, which "contributed $964,000 to net in- - _^ "corrte" on revenues of approxi- Mafiv * t*f \r %\c* Tnately $38 million. UM€*MRJ J. Jr Second quarter 1973 earnings A ^ • j " were "a record $23.6 million or AFC UVeTOaiCl "S.92 "per share, topping both • Hast'year's $.73 figure and the A J IT I ;$.80 reported for the first quar- /YVLQ. UlliUippy aillllllfllilllllffiffllllllill New Parking Lot Home Savings & Loan Assn. is adding a new parking lot tion's customers. General contractor is Gunther Construe- behind its building at 50 E. Main St. The project, which is tion Co. In addition to the new lot, the existing 18-car lot *" u " completed in six weeks, will provide - ! " L expected to be completed in six weeks, will provide 33 additional parking spaces for the savings and loan associa will be resurfaced. Many employes are being overpaid, and they are not enjoying it. At least, so says one expert. According to a Chicago Trib- "ter of'this year. The'transportation group, consisting of railroad, trucking, pipeline and air freight forward- •""ingy reported a 14 per cent in" crease in revenues from $422 o o „ *'m)Nibn to $480 million for the U ne article, SaUl W. Geller- •'balf,' although the group's con- man , president of Geilerman "tribution to Santa Fe Indus- Kay.Corp. of Harrington Park, "Hies? income was slightly be- JM j., sa 'ys that salary in- •loiV the 1972 contribution. creases for outstanding per- Reed pointed out that rail formance in a particular year "operations make up the pre- and not for long-term contri- 1 dominant part of the transpor- butions to the corporation — -tatidri group's activities. The tend to bring some employes Railway .handled an 8.6 per to the overpaid condition, cent increase in carloads during i n normal times, these em- the first six months of 1973, but plcyes become a burden to the increases in wage rates, fuel management salary structure and material, costs, and payroll aiid their relations with the ^,tax,es have decreased the rail- company are strained, bring- ; -way 's contribution despite the ing dissatisfaction. Geller-increase in volume handled. man's solution is granting of Moreover, the railway in- generous bonuses for perfor- ,purred substantial additional mances, rather than salary in;expenditures as a result of ex- rrease. •-.traordinary measures taken to _ ..^expedite the massive export Business Week magazine .grain,.movement under extreme- r.oted recently that "Hewlett- ; iy congested conditions exist- Packard became the first big ving.at. the Gulf ports, Reed said. U.S. company to adopt fle'x- The., major activities of Santa time, the European system ...Fe's matural resources group that permits workers to set are the oil and mineral produc- their own working hours, tion companies located through- About 12,000 employes can vout the western states and the start work anytime between ,HoiJstpn-based Kirby Lumber 6:30 and 8:30 a.m. and quit Corporation. eight hours later." Offers Big Savings on Gas, Oil Neiv Cycle Shop Opens Fuller Cycle Sales, 624 S. Chambers St., which opened for business recently, is offering a full line of Benelli motorcycles and! mini-bikes. The new business is in the process of remodeling its shop. Next year Fuller Cycle Sales hopes to build on the corner of Knox and Chamber streets. An experienced mechanic is on duty at the shop, according to Donald L. Fuller, owner and manager. Fuller acquired the Italian motorcycle dealership June 20. Finish Banking Courses Several employes of Fidelity Federal Saving and Loan Assn., corner of Main and Cherry streets, recently completed college level courses in banking. The employes attended evening classes held by the Peoria Chapter of the American Savings and Loan Institute and Carl Sandburg College. Completing a course in the introduction to savings association business were Debbie Anderson, Jim Eager, Terry Ewing, Marcella Harden, Donna McKillip, Cindy McLaren, Richard Strader and Nancy White. Terry Ewing, Karen McLaughlin, Clara Monson, Geraldine Royse and Shannon Sullivan completed a course in sayings accounts, while Connie Bolduc, Eager, Patty Ostrander and Janice VanUnnik completed a course in teller operations. Head Lockman Retires Herbert C. Stolz, 56, of near Joy, recently retired after more than 27 years of service with the Rock Island District, U. S. Army Corps of Engineers. Stolz began working for the district in 1940 as a launch- man. He later became a deckhand and painter before entering the Merchant Marine in 1944. Stolz returned to the Corps of Engineers in 1945. Twelve years later he became a lockman at Lock and Dam 18. In May 1958, he was promoted to head of a shift of ' lockmen at Lock and Dam 14. Local Banker Attends Meet At Madison Mr .and Mrs; Ray Kreig of near Galesburg recently attended the American Society of Farm Managers & Rural Appraisers annual summer meeting. Members of the group, including Mr .and Mrs. Kreig, voiced their opposition to Presi dent Nixon's Phase III embargo on certain agricultural exports and also to the price ceiling on retail meats and livestock products. Hoping to prevent the recur- rance of such controls in the future, Kreig said it was resolved that "the ceiling prices on retail meats and livestock products should be removed immediately so that the economic incentive to produce livestock and livestock products will encourage the desired expansion." Except for beef, President Nixon's price freeze was lifted today. Kreig, who is vice president and farm manager at First Galesburg National Bank and Trust Co., and his wife, Wanda, were the only persons from this area to attend the conference. The Kreigs visited several typical farms in the area, in addition to the experimental arms at the University of Wisconsin, Energy May Be Used For Direct Heating, Cooling The direct heating and cooling of buildings may well be the first large scade use of solar energy, according to a study by the National Science Foundation arid NASA. ' About 25 per cent of our present energy consumption is used for this purpose, mostly from oil' and gas. The NSF-NASA Solar Energy Panel estimates that solar heating systems are now competitive with electric heating systems and, with ths expected increases in the cost of'fossil fuels and improved technology, will become competitive with oil and gas. Big Savings The addition of refrigeration systems would tend to make soilar heating systems even more competitive. The panel estimated annual oil and gas savings on the order of $3 to 4 billion per year by the year 2000 if Jarg.e scale use of solar energy for both heating and cooling purposes were realized. Twenty buildings are now being heated with solar energy in tfie U. S. None of the solar-heated homes have solar-powered air conditioning, and with the addition of air conditioning they could then be used nearly 12 months of the year. Solar-powered air conditioning will also help reduce summer peak-load requirements. In areas and buildings where solar energy is used, it is estimated that solar energy will supply an "average •of 75 per cent of the buildings' thermal energy needs. Soiar energy can be used for heating and cooling of buildings by using flat-plate collectors with a black surface to absorb the sunlight. This surface is covered with one or several panes of glass which reduce re- radiation and convective heat losses. The collector is insulated on the sides and back to prevent conduction and convection losses. Water, air or some other fluid is passed through the collector and can reach temperatures from 140 degrees F to greater than 200 degrees F. The thermal energy from the fluid is then stored in a heat storage container to provide energy for night time and inclement weather. The thermal storage can be in the sensible heat of water or rocks or in the latent heat-of- fusion of certain salts. Two Systems Coupled to ths heat storage system is a heating loop and a cooling loop. The heating loop takes - heat from the thermal storage system to. heat the building. The cooling loop takes heatfroon the thermal storage to operate an absorption or mechanical air conditioning system. Also connected to the heat storage loop is an auxiliary heater. The purpose of this heater which uses conventional fuel is to supply thermal energy to either the heating or cooling system during periods of inclement weather. The principal factor limiting the adoption of solar heating and cooling systems for buildings is the lack of well-engineered, reasonably priced systems. Key technology areas needing attention include low cost, long life collectors, low cost, cooling systems, and system optimization. NASA Research NASA is working on the collector problem and is seeking means for increasing efficiency and reducing costs to one or two dollars per square foot of area versus the current $4 per square foot. In addition, a system optimization study is planned. Finally, as part of NASA's contribution to conserving energy in our own installations, consideration is being given to installing experimental collectors as an add-in to an office building to be built at the Langley Research Center. As a part of this study, the savings in energy consumption possible from improved insulation and better operating practices will be determined. This study will establish a basis for more widespread applications at our other centers and at the same time will provide a realistic test facility to guide ths design of practical systems and to define operational problems. Bank ts Changing Hours Community Bank tit Galesburg, 1380 N. Henderson St., will expand its business hours effective July 23. the bank will be open Monday through Thursday from 7 a.nv? p.m. and Friday from 7 a.m>7:30 p.m. Saturday's business hours will be 7 a.m.-noon. 513,510 Tons of Cargo A total of 513,510 tons of cargo passed through Lock 15 at Rock Island last week, according to the Rock Island District, U. S. Army Corps of Engineers. Northbound through the locks were 180,960 tons of cargo including 89,500 tons of coal; 45,900 tons of petroleum products and 45,560 tons of miscellaneous freight. South' bound through the locks were 324,750 tons of grain and 7,800 tons of miscellaneous freight. IRS Offering Tax Help Individuals with income tax problems may receive help with them on the fourth Friday of each month, Robert H. Forsee, manager of the Galesburg Internal Revenue Service office, said today. The day is set aside for attention to pfoblems of any sort with returns, accounts, or other matters. Forsee said that an IRS representative will be available from 9 a.m.- 11:30 a.m. and from 12:15 p.m.r3:45 p.m. The IRS office is located in the Bank of Galesburg Building. Forsee advised that most problems can be solved by telephoning the office as easily as by personal visits, and he suggests calling 342-2101. Will Attend Conference Mr. and Mrs. Don Anderson, 70 Hackberry Road, will attend TELEFLORA Delivery Service's 11th annual conference July 29-Aug. 1 at the Hilton Hawaiian Village, Honolulu, Hawaii. The Andersons, who Own Anderson Florists, 128 N. Broad St., will be attending seminars presenting the latest trends in professional floral design, sales and marketing techniques, The Galesburg couple will also attend the TELE- FLORA Trade Fair, where representatives of all fields associated with the floral industry will be on hand to display their services and equipment. TELEFLORA, the world's largest publicly-owned flowers-by-wire service, has more than 12,000 retail florist subscribers throughout the United States and 15,000 foreign affiliates. Purchase Chateau West Two Galesburg men, Barry Barash and Tom Frankel, recently purchased the Chateau West apartment complex, 1301 Frank St. The 18-unit apartment house was previously owned by LaVerne Schwarz. Edward R. Kris, district manager of the Railroad Retirement Board, reported a change of service today for railroad employes and retirement beneficiaries in the Rock Island area. Effective this week, a full-time representative will be on duty in Rock Island at room G-31 of the Federal Building, 211 19th St. The board's representative will be available from 8:30 a.m.-4:30 p.m. to furnish information and help persons apply for benefits, This office will serve the following central Illinois counties: Rock Island, Bureau, Henderson, Henry, Lee, Knox, Mercer, Stark, Warren and Whiteside. Part of Stud ram David B. Shafman, son of Mr. and Mrs. H. M. Shafman, .921 Florence Ave., has qualified for the Walgreen Employe Pharmacy Study Program. Shafman is a four-year pharmacy student at Drake University, Des Moines; Iowa. He will graduate from pharmacy school in June, 1974. Shafman works part-time at the Walgreen Drug Store, 156 E. Main St. The Walgreen Employe Pharmacy Study Program has been growing steadily since its inception 28 years ago, company officials said today. They expect 110 employes to participate this year. -%; ^kj*"4 ^itefr^W '""'I I i llllllllllii,, < lull Terrence Snider Former Local Man Named V-PofFirm Terrence Snider, formerly of Galesburg, has been named vice president in charge of marketing for Blue Cross and Blue Shield of Indiana. In his new position, Snider, a Knox College graduate, will be rerponsible for all marketing and sales activities for the corporations. Snider has had considerable experience in the insurance industry, having formerly been associated with several nationally known insurance companies in marketing management positions. Whitenack Given Award ABINGDON — Robert Whitenack, owner of Whitenack Tire Sf.rvice, located on the south edge of Abingdon, was presented a special award recently by Gates Rubber Co. , The award, a plaque bearing two rare silver dollars and a specially minted commemorative coin set in an automotive design, was presented for exceptional-customer service by a representative of Gates. The Denver - based rubber company sponsors this nationwide contest to reward service station personnel who provide outstanding customer service. A fleet of Gates "mystery cars" has a purposely installed, worn fan belt. Award plaques are presented to station personnel who notice the/defective belt and offer to replace it. New School, Beling Tech, \ Is Started Formation of a new private environmental school to provide advance training for water pollution control operators was announced today by Reuben M. Peterson; president of the Illinois Association of Water Pollu- ion Control Operators, arid Earl H. Beling, president of BEC, Inc. The program" and curriculum were tentatively agreed upon at a June 18 meeting which was attended by Walter Buswell, plant superintendent of Galesburg Sanitary District and program coordinator for Carl'Sand- burg College. II I H giiniiinfiiiiiiii" 1 • ' ,l! 'ii!iiyii .i 'l.ij,: ".. .|||»N||I ft mil* 1 111 IIW" 1 ;,,,;;,. ..mil ' - Spt mce Recovery With manipulator arms extended, the shuttle orbiter—one of NASA's new projects—prepares to recover an orbiting satellite. Key features of the shuttle system will be the ability to retrieve payloads in orbit for re­ pair or maintenance in space, or for return to Earth. Orbiter, being developed for NASA by Rockwell International Corp., will be able to return up to 25,000 pounds of payload to Earth. .7

What members have found on this page

Get access to Newspapers.com

  • The largest online newspaper archive
  • 8,900+ newspapers from the 1700s–2000s
  • Millions of additional pages added every month

Try it free