The Republican. [volume] (Oakland, Md.) 1877-current, 1961-01-12
Mt. Top Chamber
Gives Annual Report

OlVeS Annual Report
The creation of the MT. Top
Chamber of Commerce Develop.
ment Trust organized to arrange
and facilitate the financing for the
IIarco Lumber company was listed
as the highlight of the year for
the organization in its annual re-
port made public by Frank Peters,
president
The project was handled by
Frank Mcdaniel, Earl Zepp and
Irwin Field, trustees with S. r.
Pagenhardt, as legal counsel. as,
sisted by Fred A. Thayer
Mr.. Peters, in evaluating the i'm
pact of gaining or losing a COM
pany like Harco, said that for
every 100 jobs such 4 company
provides it means 296 more people
can be supported in a community,
112 more households. 81 more
school children, more retail estab-
lishments, 107 more car registra-
tons, "a new jobs in addition to
the 100, S270,0O0 in bank deposits,
S360OO0 in retail sales.
He also pointed out that the re-
verse is true in the case Of long
strike or the losing of a business
such as the depled mine at
Crellin and the close-out of the
local motor freight terminal.
Peters said that progress on the
Harco project had been substantial
except for adverse weather on CON
struction. Harco has been in opera
ton at a leased mill for most of
the year and hopes to be in its
new location shortly.
Peters also cited the creation of
the Development Credit corpora
ton, a creature of the State Legis-
lature, which exists for the pur-
pose of providing secondary fl
nancing for new business and for
the expansion Of existing business.
The First National Bank and the
Garrett National Bank in Oak
land subscribed to the entire stock
available for the area so that quail
fed business endeavors could
qualify for secondary loans with
the corporation.
He pointed out this provides the
community with considerable
economic leverage and if an OPP
portunity appears for the right
sort of business to join the com
munity that there is an established
means Of financing.
The Chamber continued is
sponsorship and participation with
the Baltimore and Ohio railroad
in the annual Autumn Glory. A
number of sessions have been held
with officials of a packing COM
pany to stimulate cold weather
crops for shipment Last summer
one concern took S25,O00 Of these
crops from the community.
Provision was made Tor Christ
mas lighting, the chamber paying
the bill. Arrangements were made
for the Christmas treat with sub
stantial help from Charles L.
Briner as chairman.
The Chamber assisted in the
Promotion Councils first boat
parade on Deep Creek lake.
The board has maintained liai-
son with the Garrett County-Deep
Creek Lake Promotion council, the
County Commissioners, the Rura!
Development program and the De-
velopment Credit corporation.
Routine affairs Of the board
were handled through committees
which were headed by the follow
ing: Willis Shaffer signs; Howard
Naylor, publicity; c. w. Highlander,
membership; Frank Mcdaniel, fl
nance; Willard Hawkins, educa-
ton and economics; Irwin Rudy,
Jr., autumn glory; Edward Smouse,
mercantile and special Christmas
treat; Helmuth Heise, legislation.
In a detailed financial report
which appears in today's issue.
there were shown receipts of S.
556.36 and expenses Of S2,15O95,
leaving a balance Of S1,4O5.41
The report of activities is rem
dered annually to the people Of