REESE — Barton Stephens, owner of the True Value Hardware on Route 140 near Bethel Road, has closed the store and is moving much of his inventoryand tractor sales to a Hampstead site.
Formerly Heled's Reese Hardware until four years ago, the store was widely known as a family-run business where people could go for repairs and parts.
The business, opened March 1, 1958, was run by Ed and Helen Klotzof Westminster. All six of their children worked in the store at onetime or another.
Stephens said he decided to close the store because he was unable to compete with the mall and shopping center storesin Westminster. He could not garner enough sales to cover the costs of running the store, he added.
He also owns the True Value Hardware store on Houck Avenue in Hampstead, where he will concentrate on business. He has owned the Hampstead store 11 years, where he has donetwice the business that he did at Route 140, he said.
Stephens has laid off two workers so far and expects to lay off more when the move is complete. He will look then to sell the property with its two-story, 10,000 square-foot building.
The Route 140 store will re-open for a liquidation sale Saturday to get rid of left-over inventory. Stephens said the sale would last until everything is gone.
BANK GIVES A DIVIDEND
Carroll D. Myers, president and chief executive officer of Taneytown Bank and Trust Co., announced that the Board of Directors have approved
a cash dividend for the second quarter of 1991.
A dividend of 14 cents per share was paid on July 12 to stockholders of record June 25.
Taneytown Bank and Trust Co. has branches in Taneytown, Westminster, Keymar and Uniontown.
BANK FETES REALTORS
The Farmers and MerchantsBank recently had its first annual Real Estate Luncheon for more than 35 real estate brokers and agents from 11 different offices around the area.
Bank representatives explained many of the bank's loan products and how they can be helpful to potential homebuyers. The bankalso received input from the Realtors on the financing needs of the community.
Realtors from Westminster, Finksburg, Hampstead, Manchester and Reisterstown, Baltimore County, attended the luncheon.
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