Federal Leather Company Is Sold to Textron Corporation
Total Page:16
File Type:pdf, Size:1020Kb
Look M a ; N o Hands Announce Merger O f7 Federal Leather Company Is DeW itt Savings And Sold To Textron Corporation N o rth Belleville G roup Sale Of Local Plant Involves Two Local Savings And Loan Associations Reveal LOCAL DEMOCRATS Proposed Merger Approved By Directors; Special About 000,000; Fusion To Meetings Called For Full Membership Apprival ATTEND NATIONAL The proposed merger of the North Belleville Savings and Take Effect On August 31 Loan Association into the.DeWitt Saving? and Loan Associa PA R T Y CONVENTION tion has been jointly .anüapnced of th e The Federal Leather-Company, whose expanding pro*:; two'jnstitutions. Joseph King, president of the DeWitt Sav Town Chairman Ralph Vara perty and plants in River Road-and East Centre street lie osj ings, and H. Willard Sawyer,, prudent of the North Behe- both sides of the Nutley-BelleVille line, was acquired fora ville Savings, revealed that the merger has already been ap- M b. Mae Mead Mazza, And about $7,000^000, this week, by Textron, Inc., the fusion tp| proved by the Board e'f Directors ef- both ins^ptions.------ Leonard Ronco At Chicago become effective- on AugUst Di. In announcing' th e toaiisaoii The m erger, approved by th e Directors, would become ef tion, Louis M. Plansoen, president of the Federal Leather.! fective October 1, and would ir - Town democratic, chairman Company, said that it will not affect the operation of the subject ' "to ’ the approval of th Ralph Vara; state committee- firm ’s plant which, has now expanded to 800 employees. 1 complete membership of both or woman Mae Mea.de Mazza, Plansoen and Royal Little, chairman of Textron, Iric., in ganizations „a,nd of ' the Commis announcing the fusion, yesterday, explained that the tw<|| sioner, of Banking and Insurant; and attorney Leonard Ronco of Belleville were among the —— ^firms have entered in t o an a-| t>f the. State of New Jersey greement whereby Textron wijl aefi Letters have been sent by bop numerous residents of Essex .Handji oiD^id .dig in! This was the signal for ÿôüngsterB to quire, On August 31, the businss|t| presidents to t h e i r respectlv County who attended last SCHEDULE GIVEN and assets subject to the liahili-Sieifl membership informing them o. watermelon- a t the’ annual Watermelon Festival, held at Jackie’s'M arket on .Belleville A v e week’s national democratic of The Federal Leather GompaUja the proposal and calling a specia nue on Monday afternoon. Jackie’s customers took care of s o m e 40() watermelon^, while Convention in Chicago. ' The tb^ee for. 800,000 s h a r e s of Textron! meeting to consider the merge many of the. town’s parents probably took care of stomach, aches as a result of their-young local residents attended the ses and take action. FOR SCHOOL NO. 7 sters’ over-indulgence. Everyone'was a winner,;however,. When th8.’spéedihrfe.afn‘ï s tw< sion as observers. In view of th'e very substantiiffi| As specified, ..the m e m b e r home prizes (donated by local méchants, and the slower ones'digested m o r e watermelon Top social event for Essex pre-tax earnings and the underly-,1 meeting of the North Bellevill County’s delegates was ■ Tuesday DOUBLE SESSIONS ing vàiüe ô f Federal’s assets, they! S a v in g s and Loan Associatioi than m ost people eat in a month. phobo br • a .. pfaff night at Dohl’s Restaurant in the pointed oüt, thfe transaction as- J will be held on September 4 a Morton Grove suburban section sures no dilution of the common® 7 p.m. and the members meetiU] ;of ■ the Windy City, where dem - Plans Call For Four Hour stock. Textron, Inc., shares have a,g of the DeWitt.Savings and Loa; ocratic chairman Dennis F. Carey current market value in excess of Association will be field on Sep was host’ tos all - Essex County 'Morning And Afternoon $23;, having clpsed, yesterday, on;| tember B at 7 p.m. Final actio: D aniels Defends Board O n RAIMOTO ATTEND visitors at a réception and steak the Wall Street Exchange at| is expected to be taken here b; dinner.. Alternate Grade Sessions 23%...... the 7,000 members of the' DeWit Started In 1919 Savings and by the,. 11000 mem Nutted . on the Chicago scene CONVENTION OF from Essex were these delegates: Classroom schedules 'for ,Yn 1919 when. F e d e-r a 1 waa,| bers of the North Bellevill th e double sessions a t School Buying Cafeteria Supplies Freeholder Bernard Rabinowitz established, the firm originallÆa group. No, 7 -have been released this finished real reather. Thèse aet^i The Vote of 'two-thirds Of th of Nutley,. Steelworkers Union ITALIAN W M VETS leader John Proto ’of Bloomfield, weèk by Superintendent of- ivifles were completely discontinu-f| members of each organization i ed in 1923 and the company s u b J persbn or By. proxy at the special U nder State Regulations Phelps Phelps of Newark," State Schools Evan H. Thomas. The State Commander Candidate AFL Secretary Vincent J. Mur sequently pioneered—in the fiel® meeting is necessary to consum Board of Education has pre of coated fabrics. Today FederaH mate tfie -merger. Members of phy, State Veterans Driector Sal Secretary And Business Manager Sends Letter For National Post At vatore A. Bontempo, and Harry viously approved plans for is one of the country’s leading pro-J each association include both sav the double sessions at t h e duceis in this field. ings m e m b e rs and borrowing To Members. Upholding Their Action Regarding Lemer, all of Newark; Mayor Twenty - First Conclave Edward, McKenna of Irvington, ■school until construction projects The offices and manufacturing , members.', Purchase Of! Milk, Food, And Other Supplies Maclyn S. Goldman of West there are completed. facilities occupy a total of moréH According ' to both King a?- Nicholas R a i m o; Depart- Orange, James D. Winans of than 360,000- square feet,- south of J Ruel E. Daniels, secretary and business manager of the Under the plan set forth by Sawyer, under t e r m s of the ment Commander of New South': Orange and James J. Mc East Centre Street and west of | m e r g e r agreement, the North. Board of Education, has sent letters to all Board members Thomas, all second, fourth, and Jersey for the Italian-Ameri- Mahon of .Montclair. sixth grades will meet for morn River Road,, in the two towns&s Belleville i n s t i t.u tion will be. defending the Board’s -âçtiôft' in regard to the purchase o f Alternates included Freeholder with- complete and modern ma-3 can World War Veterans of ing sessions only. These classes merged into DeWitt, which means cafeteria supplies. The action is in reply to a letter addressed will run from 8 a.m. to 1,2 noon. chinery for- all phases of produira that all assets of the former will the United States, Wilpattend ('Contltiuâd On Paste Four) tion. to the Board by Jam es R.Golden, in which he infers liliat the Doors will opeh in the morning at be transferred to DeWitt. -This the twenty-first naSphai^bn- : Sales in 1055 placed the locajJ Board has. not been complying with state regulations. 7 :46 o’clock. would be subject to the liabilities ventiph .of th at .gtpfap -.to. be firai^ among the ton-three pnssj of the Nerth Belleville grpqp.,,.. ■ The afternoon sessions Will be ducers of this type product. l t d —4 . Golden told the Board in hie letter that it was hia under- held a t the Hotel Osborn's in Furtítérfore, they stated thsf LOCAL GIRL WINS held for the first, third, and fifth operations are completely inte- ;. -standing that existing State Board, of. EducalsHp regulations Auburn,-"New Y o rit, ImgibB&s grades only. These sessions will all members of the North Belle call for competitive bidding Upon# grated ¡from the untreated raWi ville Savings would become mem August 01 and runjui^.’ -ffiroitgE run fro m 12:30 to 4:30 p.m. ■materials :ixs the finished state. Cafeteria supplies, such as. milk, ' September 3. School doors w ill,op en in', the Federal is a major supplier t«a bers of DeWitt, with each savings etc:, when -to • -.excess. : of$ 6 0 0 v IN SILVER CONTEST afternoon at .12:45 .p,cv4 Under,, the member, to be ,*§g ..■Comm/Mider BasEsr-wlil to 'Are- m'Sfeotive-Industry- for whicte Gfflden' asked-,' <‘Wfiÿ;WB'4itê' IqeSi P0UCECHECK the convention .with a. fuH dele proposed system, all gi-ades would th e y manufacture a variety, of book valti'e of his account as P" school district failed to comply Miss Constance Tobia Gets get in at least f o u r hours of September- 30. , , gation 6f 27 votes to rapment the coated materials for door panélÿl in, the past with this competitive mite-of’ New Jersey. Ifie -w i' at classes a day, which is the state and upholstery on passenger car#| Eithhr-checks will be issued by bidding requirement on the books minimum,' the North Belleville institution or THREE ROBBERIES tend the -conclave as a. candidate Reed And Barton Prize as Well as headlining and trunk for 25 years7” for national commander, and ’¡viil Approximately 450 students will lining materials for the interior there will be credited to the book be affected by the double sessions value of the sayings accounts the "Qblden xaidVit Would .