The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

Rnd There In Business PAGE 23 - PLAINDEALER - FRIDAY. MAY 30, im Adds Firms GRAND (MPENINGrLut Saturday marked the grand opening of the Spring Grove Cash-n- Carry Lumber Co., of Spring Grove. Shown above at the ribbon cutting Ceremony are, from left, John A. Kathrein, president; David Shoemaker, manager; Lyle Thomas, mayor; Earl Miller, township knitting inspector; a„d Chris Erickson, yard foreman. The business is a division of Industrial and Wholesale Lumber Co. of Schiller Park. Disclose Deposits Up At First National Meeting M.J. Marty, Jr., chairman of the board of The First National Bank of McHenry, presided over the 1980 an­ nual meeting held May 21, at the office of the bank. Ronald L. Graves, in his president's report, provided a summary of banks operation's for 1979 as well as the progress made during the first quarter of 1980. Graves stated that total deposits at year end 1979 now stand at $22,734,871, a 4.71 percent increase over the previous year. High interest rates has caused an un­ precedented growth in Certificate of Deposits. Some new money was at­ tracted to the bank but much of the money came from existing customers' passbook savings having the effect of increasing the im-A terest expense to the bank. Loans, which are analyzed in three elements: com­ mercial real estate, and loans to individuals for household, family and other peibonl expenditures declined approximately 5.57 percent during 1979. However, most of the > decline was. experienced in the latter category. This decline was due to essentially two factors: first, slumping automobile sales and second, a shift by bank management* from indirect automobile dealer originated loans to direct bank generated loans. Real estate loans increased by. 13.8 percent in 1979, thus exemplifying the deep commitment on the bank's part to serve the community and the banks customers' needs Investments are com­ prised of four different types of securities: U.S. Treasury, U S government agencies, municipal bonds and porate bonds. Graves ex­ plained that funds that are deposited but not lent are invested During 1979 dollars channeled to investments totaled $287,167. Earnings for • • 1979 rose to a record high of $220,384 or $6.69 per share. This represents a return on beginning equity of 28.6 percent and a return on average assets of 94 percent which is in line with industry standards. , Stockholder equity in­ creased from a book value per share at year end 1978 of $23.32 to a book value at vear end 1979 of $29.99 per share, a 28.6 percent increase. On the personnel side, G r a v e s i n f o r m e d shareholders that the bank employs seven officers, 21 full time employees, and two part time employees. This represents a decrease of two employees over the previous year^ this decrease made possible by improved operating efficiencies. It was also announced that the bank has just completed a renovation of the loan department. This should provide the bank with suf­ ficient room for loan departmgnt personnel as well avi providing convenient and cor dential surroun dings for «*n customers. As to the first quarter of 1980, Graves informed the shareholders that deposits as of March 31, 1980, showed no appreciable movement since year end, however, operating earnings for the .first quarter of 1980 were 19 percent above the same period last year. This was most gratifying, especially in light of many previously announced' downturn in earnings from other financial institutions. The stockholders were advised that the Federal Reserve Bank of Chicago has approved the First McHenry corporation to become a bank holding company through the acquisition of 80 percent or more of the voting shares of the First National Bank of McHenry. Graves explained that whereas no change will be made in the manner of business, management, Or location of the bank it will give the bank increased flexibility to meet com-= petition in the market place. Should legislation change the" current restrictions placed on bank holding companies, the bank will be positioned to meet those changes with perhaps aquisitions of other financial institutions, although presently there are no such plans under consideration. The stockholders reelected the following directors until the next annual meeting: Marian H. Busse, a private investor; William J. Busse, executive vice-president, First National Bank of McHenry; Ronald L. Graves, president, First National Bank of McHenry; David T. Kent, secretary and treasurer, the Kent cor­ poration; M.J. Marty, Jr., president of Chicago Mfg. Co Donald C. Stinespring, attorney at law; Harry P. Stinespring, III, attorney at law; and Mae Stinespring, a private investor During an organizational . meeting following the annual shareholder's meeting M J. Marty, Jr., was elected chairman of the board and Mae Stinespring was elected secretary of the board Additionally, the following officers were appointed: Ronald L. Graves, president and chief executive officer; William J. Busse, executive vice-president; Neida Rechisky, cashier; Guenter O Scheel, assistant vice- president; Helen J Hen- drychs,; assistant cashier- operations; Virginia Orr, assistant cashier-Loans and Diane K. Basile, operations officer-auditor. Hold Energy Seminar The McHenfy county chapter of the Chicago and I l l i n o i s R e s t a u r a n t association will be holding an energy seminar for any managerial personnel in the food service business. This seminar will show how to control utility costs without spending a great amount of money on energy saving devices. Any interested person should contact Evan Archos, 6607 Northwest highway, Crystal Lake at 455-1200 or Brigid Brennan 312-372-6200, for more details. The seminar is scheduled to be held at John Evans Ion June 16 from 10 a.m. until 4 p.m. Make Funds Available r K For Mortgage Deposits Unfortunately, the home building industry in Illinois has been the hardest hit in the nation. In an effort to alleviate to some extent this problem and to help to some degree the economy of this state, Jerry Cosentino, state •treasurer has announced that he --is making funds available to all financial institutions for deposits to be used for mortgages. Deposits will be made under the following criteria: 1 - The mortgages made with these deposits will be for newly constructed homes whore building commenced prior to Dec. 31, WW- J-The initial deposit will be for one year at t percent. It it agreed that such deposits will be renew*) from year to year at prevailing rate* if the funds are not needed for expenditure -f * Mortgages* madt under tMo program will bo at the rate of IO»* percent and 'he institution will agree to charge no more than three points to the home buyer. 4 - The deposit and mor­ tgage rates may be adjusted from time to time to reflect market changes. 5 - Application for deposits will include a certification of a mortgage commitment by the institution, - listing the name and address of the borrower, amount of mor­ tgage and the interest rate. 6 - In the case of savings Students In Recital The piano students of Mrs. Cecil McGranahan win be performing in recital Sun­ day, June 1. The program will begin at 3 p.m. in the music room of Edgebrook elementary school. Those participating in the recital are Bridget Diedrich. Elisabeth D'Sousa, Lisa Hes* Billie Jo i/tbirutk) BANK HOLDING COMPANY The Federal Reserve Bank of Chicago has announced approval of the application of First McHenry cor­ poration, McHenry, to become a bank holding company by acquiring the First National Bank of McHenry. M c H e n r y . c o u n t y , reflecting overall industrial improvement in Illinois, gained 29 manufacturing or processing companies last year - a 8.4 percent rise to its current total of 372 firms. Crystal Lake, the cqun- try's largest industrial city with 101 firms, added 12 industry units during 1979 according to a business census conducted by Illinois Manufacturers directory. The 1980 directory, a 1,400- page business headcount involving 41,000 pieces of mail and 17,000 telephone calls, also revealed these McHenry county industry g£tins: McHenry, from 42 to 49 firms, Algonquin, from 26 to 27. Marengo, from 23 to 25, Harvard, from 20 to 21. County cities with losses: Woodstock, from 53 to 52, Richmond, from 14 to 13. Illinois Manufacturers directory, just published^ reflects these local changes and shows that, statewide, Illinois gained 487 manufacturing firms during 1979, bringing , the total to 19,419. This is the Land of Lincoln's first statewide industry gain since 1975. The new business answer- book shows 73 Illinois counties with manufacturing gains, 11 with losses and 17 with no change since 1979. The 1980 directory also lists 1,000 new firms that opened up their doors for the first time in Illinois last year. and loan associations, every effort will be made to deposit additional funds that will independently qualify for FSLIC. 7 - Multiple deposits will be made to coincide with loan commitments. 8 Funds will be allocated by regions as requests are received. 9 - To be eligible, the in­ stitution must have a current FEPC number. Rachel McGranahan. V;vian M i O . a ; . h a n . M e ' k M c G r a n a h a n . u r i a n McGi .»ahan and Rtt th Sveen The public is invited to attend the performance • • • • - Politeness is a virtue that seem* to be »>n the wane these &**«; A Pioneer In Art \ Each of the 950 limited edition prints must be numbered and signed by the artist. After 950 acceptable prints are signed the plates for their reproduction are cancelled. STAFF PHOTOS-WAYNE GAYLORD Scratch board (originated as an art form intended for illustrating m a g a z i n e s a n d newspapers. With the addition of color; it has since blossomed into a fine art form intended for collectors. A pioneer in the development of scrat­ chboard as a fine art form, Sally Miller, of McHenry, said working with the medium is essentially very simple. Basically, scratchboard is what it implies - the scratching or scraping of ink away from a board (usually a White surface). The end result is a white drawing on a black sur­ face The introduction of color into hei work started when she was working .with pencil and paper. "I love to draw" she said. "But drawings, particularly black and white, don't sell. So I was encouraged to put color in mv work." After adding color to her pencil drawings, she "took one step further" and added color to scratchboard. Once the white-on-black scrat- chwork is done, Sally goes "right back and paints over it." "It's no big deal, really," she said. "No one has ever really pursued the idea to find the proper chemical balances of the paints." Sally experimented for more than two years until those chemical balances were found. She pointed out that with some other art forms, months of work may lie beneath the end product. In oil painting, for example, very detailed drawings are painted over and hidden. The full color scratchboard, she ex­ plained, is a crossover between the traditional fine art media and graphics, realized in exceptionally clear and detailed works As of late, not many artists have reached beyond the point of dabbling with the "new medium " "As far as I know, 1 am one of three published artists in the U.S.," she said. Just as there are not many artists using the medium, there are not many publishing houses with the ability to reproduce these fine art works. The method of printing used for the full color scratchboard works is "screenless lithography." This method differs from the standard printing methods in that screenless lithography does not use "dots" (as are common in newspaper, photos), rather a full range of color tones. The process, she said, is long, painstaking, and for those reasons, rare. "There are only five publishing houses in the country that are capable of printing by screenless lithography," she said. A new business - Rennaissant Gallery Prints -- emerged at the Miller residence to handle the marketing of Sally's works "We (Sally and her husband. Roy) felt my work was not being marketed correctly so we formed our own business. " That business is now engaged in the marketing plans of the first limited edition prints by Sally Miller. "A limited edition print is not an original " she explained. With reference materials q^arby, Sally Miller is shown working on the next limited"edition print. A single print may take months to complete - from conception to the final stroke of the stylus, TTie scratchboard she is working on started as an entirely black surface without an "inkling" of white. They are a specific number of museum quality, si, ned and numbered prints, she said The works are printed on 100 percent museum cotton rag bond and "are meant to be looked at for ages." The paper won't yellow if (he same care in framing is used that went into the production of the prints. Each print is inspected, numbered and signed by the artist and are guaranteed by both the printer and the artist. AC^er the specified numfcfe\of prints has been product-ttxhe plates used in the reproduction are cancelled Each buyer is registered and knows how many prints exist and what number in the line of prints he or she owns. After the prints are sold out. and someone is in­ terested in buying one. galleries may contact the original purchasers to determine if any are interested in selling. "That's where these prints go up in price," Sally said. With the advent of the limited edition prints, Sally Miller will now have works available to all groups of collector: originals for collectors of substantial "means, limited edition prints for collectors of moderate means, and decorator prints for collectors who simply uant something to hang ori the wall "By having works available in all three areas, one will balance out the other," she said. Sally Miller has works throughout America and in Europe and is exhibiting her work through the Marshall ' Field company. Promoted Director Job Opportunities Limited WILLIAM E. WEBER William E. Weber of McHenry has satisfactorily completed his trainee period at TC Industries, Inc. and is now a floor supervisor in the Mill Products division. In addition to on the job training, Weber has been taking supervisor training courses yith the Industrial Management institute and at McHenry County college. He came to TC with prior ex­ perience in steel plants and in iriahagement training JOHN N. SIMON John N. Simon, Dolton has been appointed executive director of the Fox Valley G e n e r a l C o n t r a c t o r s association >FVGCA). With its offices in Geneva, the association has jurisdiction In Kane, Kendall and McHenry counties and is the local chapter of the Associated General Con­ tractors of America (AGC). IN TRAINING Nicholas J. Accettura, of McHenry. recently com­ pleted a two week training course given to new sales representatives for Com pugraphic corporation, a c c o r d i n g t o a n a n ­ nouncement made by John L. Peters».;t vice-president of the Cirav Arts division fr.- inters e sales course covered mai keting and sales techniques as well as a familiarization with the e*»simve range of »Mtc;otypese*!ing equipment NEW ISOLD Illinois Bell has introduced to Illinois telephone users the "Country Junction'" - a new "old phone" adapted from a 1913 common-battery wall model The ne* decorator phone is hand- Crafted in natural oak and has, a lathcturned solid oak handset. The phone has an authentic straight fabric- covered handset cord The phone is accented by an­ tiqued nickel bells atop its caiing The surging interest people have in nostalgia and a n t i q u e s i n s p i r e d t h e Country - sretion telephone Vacationing teachers and college students skilled in office work stand the best chance of finding short term, summer work during 1980, according to Manpower, Inc , the world's largest temporary help firm. ' ' N a t i o n a l l y , t h e availability of summer jobs has eased from the levels of past years," Mitchell S. Fromstein. president of Manpower, Inc. said, "but jobs, in more limited numbers, do exist These jobs will be harder to find and most will be in office work Manpower announced its offices nationwide will recruit 27.000 vacationing teachers and students for summer work - 87 percent of last year's needs. As a group, temporary services nationwide are expected to New Equipment Coordinator Bruce Morris has been promoted to equipment coordinator in the newly f o r m e d E n g i n e e r i n g department of Dearborn Chemical (U S ). In this new capacity, he will be responsible for developing chemical treatment feed systems and coordinating activities for all equipment used in the field. Mojrrjs is located at the executive offices of Dear­ born Chemical in Lake Zurich He is a resident of . McHenry hire more than 100,000 students and teachers "Sixty percent of the jobs available through Manpower offices will require skill or experience in office work", Fromstein said. Students •usually pbsses these skills, though they may not know H " To aid students looking tor summer work, and recruit the numbers of people the firm seeks to hire Man­ power has ins! ailed a national toll free W ATS line (800-331 1000', students from across the country can call to make an appointment with the Manpower office of their choice. Accoiding to statistics gatheied from the U.S. Department ot Labor, ap proximately. 28.000,000 students and teachers will be looking for summer work this year, the same number as last year Most will find work paying the minimum wage, eurrenth at $3 10 per hour. Tension and sup­ pressed,emotion kill many of our associates and may kill vou LOSE WEIGHT on our Summer Savings Plan lO Weeks only $35 2 Free Vacation Weeks Free « SUMMER SECRETS booklet M»ts y<x> •nfoy your favorite foods 0v0ry day On sale in ad classes weeks of June For more information ca CONNIE 338 6279 summer