Word: corticelli
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President Kramer was a troubleshooting merchandiser, an associate director in Amos Parish & Co., director of Hahn Department Stores. He promptly bought out Corticelli, one of Belding's few spool silk competitors, concentrated production in the efficient Putnam, Conn, plants, scrapped the unprofitable fabric and hosiery manufacturing division, wound up last year with a $500,000 profit. He continued to make money this year, paid off a bond issue. Last week the Belding Heminway directors declared a 50? dividend - their first in six years...
Died. Benjamin A. Armstrong, 85, board chairman of Corticelli Silk Co., president of New London National Bank of Commerce; at New London, Conn...
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