Abilene Reporter-News from Abilene, Texas on March 8, 1957 · 7
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Abilene Reporter-News from Abilene, Texas · 7

Publication:
Location:
Abilene, Texas
Issue Date:
Friday, March 8, 1957
Page:
7
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t i A ft -$ - S J t 1 1 ‘4 4? J r J TIIE ABILENE REPORTER-NEWS Abilene Texas Friday Evening Mink I MS7 7-A BUSINESS OUTLOOK By J A LIVINGSTON Phltedelphteiu Suddsnly Find How Hotel In Kidsl Sheraton Goss All Out PHILADELPHIA March I -When yen ur Ihcn'o m biancas like shew tew you're wrong Yeu’d admit you aro wrong too if you’d boon with Perlt Meita Gcorgo Jtood Zm Zsa Gabor Gov Robert Uqfwr of If J Sen Clinton Anderson of New Mexico Wharton School protasaora the Andrews Sisters pretty models and assorted Philadelphia bankers industrialists retailers and representatives of the Chamber of Com- move when Mayor Richardson DR worth snipped the ribbon to formally open Philadelphia's first big rooming house since 112 the hotel Sheraton This three-day extravaganca set Vie Sheraton Carp back $130000 according to Robert L Moore chairman and Ernest Henderson president The tab included the price of a chartered plane which brought in stars from Hollywood: publicity Some travelers always want the latest This adds a dollar a night to the price of lodging according to Moore On 130 rooms that means nearly a thousand dollars extra per day sr some $300000 a year assuming full occupancy This is a big assumption Philadelphia hotel eccupancy slipped from 00 per cent to 00 per cent la 1160 Good bet: Occupancy win drop further But the Sheraton also will increase Philadelphia’s hold business Sheraton bookings for the next fire' years for conventions amount to $3000000 Some of that would have gone to other hotels But some wouldn't have come to Philadelphia without the Sheraton Now Philadelphia caa offer plenty of first class rooms The building of the Sheraton has reused other Philadelphia holds transportation for newspaper and vhe Bellevue and the Warwick have magaaine writers TV and radio commentators TV time purchased free winiag mid dining of guests fees lor entertainment and the coot of not wing the hotel for paying easterners There's purpose to all of thia A new hotel has to got Re name around Otherwise out-of-towners win ask for the old Philadelphia standbys — the BcUevueBtntferd Warwick Barclay Benjamin franklin John Bertram Zylvaala and se on Hence the aeeont on been rearranged and refurbished The eulslae of all holds has smart-aned up Waiters aro more alert Bright fellow he who said “Competition's the Ule of trade ' Since Boston the homo bam of the Sheraton Corp and Philadelphia aro colonial cities a colonial motif dominated the opening A colonial style - newspaper inter viewed Moore no follows: "Q How was your beginnings in the hostelry business? 'A Ernest Henderson Esq my partner and co-founder with myself in the company were in aludica together ' at Harvard College hi Cambridge Maas Wo ilso per formed service la World War first: and with our veterans’ rewards in combination we commenced ourselves into various diverse businesses one ef which the World Radio Cs i network of radio shops became highly successful Then wo undertook real-estate" ‘ To Henderson and Moore the hold business is an Inflation hedge Their first venture was the Hotel Continents! in Cambridge la 1934 They now have 41 la the U S and Canada The Philadelphia Sheraton ia the first they've built! The others were bought as going hotels Another is under construction in Dallas Henderson figures Sheraton Corp rales at lisoOMooo a year Total assets are rarrled at $212-M00M Estimated market value $290 0M OOOi ' Earnings are put at about $123 I share from operation! Because of accelerated depreciation the cash flow is great-er— $344 a shore Ts finance a hotel property the corporation gets up a separate company vis: The Sheraton Louisiana Corp The Sheraton Mayflower Corp the Philadelphia Sheraton Corp In Philadelphia a Massachusetts Insurance company took a first mortgage of S6OMMO supplemented by $30M0M hi debentures A group of Philadelphia hanks has promised a tt5MeM five-year term loan guaranteed by the parent company The Sheraton Corp win put In the equity $3JM 0M to M3M0M to cover the rest of th cost - When all the bills for land construction furnishings and promotional efforts are in the tote will be between $I3M00M end 111-000 0M Shop Lifters' Low AUSTIN March to - Shoo lifters may find their "work" tougher if a bill Introduced by Sen Ottis Lock of Lufkin Is passed It would allow owners or employes in a retail store to bold anyone "for a reasonable period of time" if the person is suspected of shop-lifting 50-Foot Triple Tube Sprinkler 3 95 Time to start watering for a beautiful grean lawn this spring This triple tube flexible sprinkler r o a c h e o hantto-water spots eovsra 1000 square foot with a fine mist-kko spray Use as a sprinkler or soak- r complete with storage reel -L 'if " ’ ' thrna locations: Downstairs 4th L Oak 8 14th Jk Barrow Elmwood West Official Little Leaguie Shoes boy s 4 men's 5 Safety spikes af molded robber so soles and bate toko the danger out of slides Staunchly protective aro the hard too papa FuB-praof eyelets cool uppors of heavy washable duck In Mack -sizes for boys youths and men Sporting Good! S 4th k Pecan iweiiiHwe n largest selection in town! - j - Men's Western Shirts - i 49 il 9 If you like the odor and comfort of western dress you'll want several of these wsutern style shirts Thera aro chocks plaids stripes and solid color chsmbray in grey tan blue white and red 6izes 1314 to 17 ' - Frontier Dept 4th & Oak i I T plenty of 1 free parking V ' I space always r y This Gigantic Sale of Washers and Dryers is being held over because of the great demand plus a brand new stock! i MAKE YOUR SPIRITS AS BRIGHT AS YOUR WASH COME THIS WASH DAY WITH A NEW GE WASHER & DRYER SPECIAL " t -i- ' GE Superfasf NOTHING DOWN 180 WEEKLY GE Automatic Washer ' Tremendous Savings! s ! W 1 Rr $23195 Aad Old Operating Washer NOTHING DOWN $796 Monthly Buy the Pair - & Total Price on Pair Only:299" t And Old Operating Washer Pair ' ' -i 60 Gauge 15 Denier i Nylon Hose f f25 k 1 for each lady who comes in and watches a demon-stration of one of these GE Washers Furniture 102 Elm Ph OR 4-6242 iid & w - Appliances - 1109 N Mockingbird Ph OR 4-5401 r- h 4 a 4-4 4 4-4 H I I t I '4 I i ntei h i ' ' ' i : V 2 1-i at f 3 q 9 to t ‘m J fJL 'ft i- MONTHLY sion 265 Chestnut Ph OR 37821 v - V -' tSi t r ' 1 S' ' X:

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