Middletown Business Scene - The thread of Middletown's November business did little to unite the confused pieces of the nation's economic picture. Figures related by the Chamber of Commerce and the Ohio State Employment Service last week continued to reveal no more than shadows on which to predict the city's business future. Crossing patterns included: 1. Bank activity that was heavier than the month before but lighter than a similar period in 1952. 2. Construction and postal receipts that dropped below the October level but were still higher than the November 1952 rates, and 3. Employment that showed a near steady decrease. Most of the indicators showed a drop from October to November this year. This is tempered, however, by the fact that a similar decline was in evidence last year during the October to November period...

Middletown’s Business - Middletown's part in the nation’s entangled business plot was not unravelled by the October economic indicators released last week by the Chamber of Commerce. Optimists searching for a foundation might note that sales tax and postal receipts were higher than September 1953 and October 1952. Construction, down from September but better than October of last year, also might be viewed with favor by the optimists. At the same time, the picture shown by banking and unemployment figures might add to the pessimist's woes. The local business totals could be viewed as indicating everything or nothing. Construction value in October dropped considerably from its September level, as shown on the accompanying chart. At the same time, last month’s total was well above the 1952 figures...

Middletown's Business - The slight recession that has characterized much of the nation's recent business activity is not reflected in Middletown's economic indicators for September. Local business appears steady with no sharp drops and, except for construction, no unusual leaps. The only hint of poorer times ahead comes from the Ohio State Employment Service, where Manager P. F. Johnson reports Middletown employment down and set to drop even further. But the city's two bank presidents, just returned from the American Banking Ass'n. convention in Washington, D.C., can see no large recession ahead. Calvin Verity, head of the First National Bank, says "I don't believe we’re going to have much of a slow-down.” He sees some lessening of production but not enough to mean anything...

Limited economic indicators relearned last week reveal that retail sales and employment in Middletown were up slightly in August but construction dropped sharply. Business as a whole appeared to be behind the early 1953 activity but still ahead of or as good as the pace of August, 1952. This means that Middletown's economy was similar to that of the entire nation, reported by U.S. News and World Report to be “holding firm somewhat below its high rate of early this year" and to be having its “best summer yet." Conclusions from the table of indicators must be reached with caution because the August banking figures are not listed. Roy Patterson, secretary of the Chamber of Commerce, which compiles the totals, reported that the Oglesby-Barnitz Bank had been delayed in turning in its monthly report this week...

Sales tax and banking figures released last week indicate that Middletown's July business activity dipped slightly below the June pace. These same figures, however, reveal a clouded picture of where business stands in relation to July, 1952. Sales tax receipts are up, but bank debits and deposits are down. At the same time, reports from the building commissioner’s office showed a marked increase in city construction. Orville Corson, building commissioner, reports an increase of building permits from 92 in June to 105 in July. The number of new homes to be built almost doubled, while the value of permits jumped from $396,366 to $684,831. The July figure is almost three times the value of permits for the same month in 1952 and higher than any recorded so far this year. It is swelled somewhat, however, by permits issued for two city fire stations...

No More 25-Cent Fines - The Middletown Federal Savings and Loan Association was 85 years old yesterday, and since that day in May, 1868, when William Sebald, grandfather of the 1953 president, G.W.A. Wilmer, headed the list of charter signers there have been lots and lots of changes. For one thing, the company, which is the oldest continuing loan and building association in Ohio, deals in sums of money that make the original investments look rather dwarfed. Total assets for 1952 were listed as close to $14 million dollars. In the early days of the company, the 144 original stock holders were not permitted to own more than ten $200 shares. In addition, the early constitution provided for such money collecting devices as a 25 cents a week dues charge, a fine of five cents for dues that came in a week late, a fine of 50 cents for refusing to assume office when so elected by fellow members, a fine of ten cents for not attending meetings and a similar ten-cent charge for not obeying the rules of the group...