A look back in time

By

Local News

June 27, 2018 - 11:00 PM

40 Years Ago

June 1978

According to the Iola Industries, Inc. annual report, all of the industries in the area appear to be prospering and creating new jobs. Noted actions include: Recent efforts to sell the Lehigh quarry to the state for a fishing lake were unsuccessful; half of the medical clinic Iola Industries built and owns adjacent to the Allen County Hospital is rented by Dr. David Hanson and Dr. Willis Dick and the other half is leased to the hospital for use as office and storage space, but the rents do not provide enough income to retire the debt, and the bankruptcy of FEEM, Inc. die-casters cost Iola Industries $35,000, which it paid to the Small Business Administration in a settlement of the debt on the building and equipment. The SBA decided to cancel $117,862 of the debt. The corporation has property leased to several firms. General Portland Cement is on its second year of a five-year lease of the storage silos; Richman Industries occupies the old bag building. T & E Manufacturing occupies the clinker storage building. Three of the buildings formerly occupied by FEEM are leased to Iola Metal Fabricators. Berg Manufacturing is using the former storage building for a remanufacturing operation on an experimental basis. Iola Industries continues to serve as an agent to facilitate construction of new buildings for existing industries and is now involved in the office building for Quality Packaging and is helping Columbia Metal Products in its plans to build a new manufacturing plant on the North Industrial Park.

Related
October 1, 2021
August 20, 2015
October 30, 2010
October 6, 2010