Renovation ceremony for building set for todayA renovation...

CARROLL COUNTY BUSINESS

November 03, 1994

Renovation ceremony for building set for today

A renovation ceremony for Winchester West, formerly the J. C. Penney's department store, will be held today at 10:30 a.m. in front of the building at 50 W. Main St., Westminster.

Robert and David Max, who also own Winchester Exchange on East Main Street, will be celebrating the renovations they plan for the building, which include adding another floor and peeling away the green-tiled facade.

When completed, one-fourth of the building will house Westminster's finance, housing, community development and personnel offices. The rest will be leased for offices.

Westminster Mayor W. Benjamin Brown and members of the City Council are expected to attend the ceremony.

Men's clothing store in Cranberry Mall to close

Beset by declining sales and increased competition from discount clothing stores, Gentleman's Quarters Men's Shop in Cranberry Mall will close Dec. 24.

"I do appreciate the loyalty of my employees and customers," said owner Ed Abrams, who began his retail career in 1962 and went into business for himself in 1976 when he opened a Gentleman's Quarters Shop in the Eastgate Shopping Center in Columbia. He relocated the shop to Westminster in 1988.

"I'll be sorry to leave, but after realizing that my business could no longer run profitably, I had no other choice," he said.

Maryland accountants publish business tip book

Small business owners can get advice on cash management, payroll and marketing strategies, and employee benefits from the "Small Business Tip Book," recently published by the Maryland Association of Certified Public Accountants.

All of the tips in the 12-page book come from CPAs who serve small business clients.

For a free copy, call (410) 296-6250 or (800) 782-2036.

Long & Foster honors six top agents in Carroll

Long & Foster Realtors has recognized six of its agents for listing the most properties, being the top sales person or being the top producer in Carroll County in September.

* Eldersburg -- Karl Porter was recognized as the top lister. Chris Centofanti was top producer and top sales person.

* Hampstead -- Clyde Utz was honored as top producer and top sales person. There was a tie in the top lister category between Mr. Utz and the sales team of Penny Wilson and Loretta Ness.

* Westminster -- Tom Hayes was recognized in all three categories.

Lutheran Brotherhood agent moves to Carroll

Lutheran Brotherhood recently announced that Russell A. Jensen, a district representative in the organization's Baltimore agency, has relocated his business to Carroll County and will work with James H. Fair in serving Lutherans in this area.

Mr. Jensen; his wife, Gretchen; and daughter, Leisl, recently moved to Manchester from Baltimore County, where he served as district representative for the past three years.

He has earned the National Sales Achievement Award from the National Association of Life Underwriters.

Lutheran Brotherhood, a fraternal benefit society, offers financial products and services to Lutherans nationwide.

Mason-Dixon Bancshares announces 3% profit drop

Mason-Dixon Bancshares, the parent company of Carroll County Bank and Trust, has announced a 3.3 percent drop in net income to $5,000,311 for the first three quarters of 1994. During the same period last year, Mason-Dixon's net income was $5,172,474.

The per-share results, which reflect a 3-for-1 stock split Sept. 28, are $1.15 each, compared with $1.19 for the same period last year.

Although the figures are down somewhat from the record levels achieved in 1993, they are higher than the company's projections for this year, said Thomas K. Ferguson, Mason-Dixon's president and chief operating officer.

The lower earnings were caused by a narrowing of the net interest margin and a decline in income related to mortgage banking, Mr. Ferguson said.

Also, the results were further dampened by securities losses that were recognized when the company's balance sheet was repositioned to diminish its exposure to rising interest rates.

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