Newspapers / [The echo]. / July 1, 1947, edition 1 / Page 4
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PAGE FOUR THE ECHO July, 19^ Highlights Of The Fourth Of July Talk By Mr. Harry H. Straus In his opening remarks, Mr. Straus told the large audience that he was indeed happy to be present for this year’s picnic after having missed the occasion last year because of illness. He first paid tribute to the free dom loving men who drew up and signed the Declara tion of Independence. Then Mr. Straus told of the founding of Ecusta, complimenting “each and every one of you who has con tributed towards making Ecusta what it is today: ad mired, respected, by all of those who come in contact with you—be it customers, bankers, or a firm from which we buy.” Of his recent honorary degree of engineering, Mr. gtraus emphasized that “while the University honored me as the president of Ecusta, it actually honored our community and each and every one of you working here, because you have given our state an example of what freedom-loving men can accomplish by working together when they are determined to make the Amer ican dream come true.” “We have overcome obstacles one after another because all of you entered into the spirit of team work and cooperation, and because you were convinced that what we are doing is for the purpose of building sound ly and purposely for the future of all of us. “Our rewards have been manifold. We have devel oped—and this is the most important part of any sound business—many satisfied customers who are loyal to us, who appreciate the fact that we have kept them sup plied with cigarette paper, booklets, and belts during the long years of war, and who have assured us re peatedly that we can depend on their continuous sup port, as long as we give them a better sheet of cigarette paper tomorrow, than we did today, and that we will keep our cost within competitive range. “Now I want to tell you about some of the problems of our companies. As I told you before, it became neces sary for us to undertake a very extensive expansion program. Conservatively, this will cost us approximate ly $5,000,000. Ecusta is a young concern. It does not have a bank balance big enough to pay for the cost of this expansion work. So, I went to the bankers, and, in addition to what we still owe on our previous loans, I contracted for a new loan, and at the present time we owe about $8,000,000, and this amount must be paid back over a period of years, at regular installments. “I make this explanation to you because friends as we are, I feel that you ought to understand something about the financial condition of our company, and I hope in the future to tell you more and rnore about it. We are proud of our record. We are held in the highest regard by our banks, and they extend to us whatever credit we need. This is a reputation which, as you know, must be safely guarded. In our business lives, as well as in our personal lives, in order to be successful, we must firmly and soundly establish our financial condition, otherwise we may fail, at least in the material things of life. However, there are two other obligations and responsibilities that we must constantly think about: First, the duty which we owe to our customers to provide them’ with the best cigarette paper which can be made, at a price which is competitive, and by competitive, I mean at a price at which our competitor cannot under sell us; secondly, and which I wish you to know is one that is uppermost always in my thoughts, and that is, that we furnish steady, regular employment for all of us, and avoid, as much as possible, ‘lay-offs, shut-downs or other unproductive periods’, about which you have heard so much during the past months. “The surprise which I have to announce today—and MR. HARRY H. STRAUS DELIVERING SPEECH it is one of the happiest announcements I have ever ^ since you and I talked to each other—is that our c of production during the past six months turned g, be lower than we calculated, and consequently, our suits for the period turned out to be better than we ® , pected. For this wonderful result, I give credit thanks to you. By closer cooperation, by performing good and loyal job, and by giving us an honest work for an honest day’s pay, you have succeeded m creasing our production to a larger degree than we ticipated, in' ftp' ieS> “When a situation like this arises in most compaOLye —Turn To Fag® The Marse Grant Editor Jack D. Morgan Artist Jack Alexander Sports Reporter “Hank” Newbury Safety Reporter PUBLISHED MONTHLY BY AND FOR EMPLOYEES OF ECUSTA PAPER CORPORATION, CHAMPAGNE PAPER CORPORATION AND ENDLESS BELT CORPORATION AT PISGAH FOREST, NORTH CAROLINA PRINTED ON ECUSTA 30-LB. Echo Ciark- DEPARTMENT REPORTERS—Dot Banning, Emmett _ Bertha Edwards, Felicia Walden, Lillian Enloe, Helen K. Thelma Glazener, John Goolsby, Eula Gray, Bill Henson, Kay, Anne Kitchen, Harry S. Kolman, Dick Landeck, Sara ^ ^ tis, Ted Reece, Jack Rhodes, Maude Stewart, Dona Wright, ford Cooper, Andrew Harrell, Mary Sue Thorne, Rachel Mitchell Taylor, Margaret Smith, Betty Finck, Mildred Reba Rogers, Mary Martha Gardner, Ernest Burch, Betty Orr, Lucille Gossett, W. C. Bangs, Kenneth McDaris, MafS Loftis, Lucille Heffner. f' PUBLICATIONS COMMITTEE—Marse Grant, F. S. Best, ^ Bennett, Walter Straus, J. O. Wells, W. M. Shaw, H. E, Newo“ FLAX-OPAKE (BIBLE PAPER)
July 1, 1947, edition 1
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