MACHINERY MAKERS SEE
4.6 PERCENT GROWTH IN SALESARLINGTON, Va. - The Packaging Machinery Manufacturers Institute estimates that the U.S. economy will sustain slow-to-moderate growth without a recession or a serious rise in inflation, leading to a 4.6 percent growth in sales over the next three years.
The increase will amount to $3.94 billion by 1998, the PMMI said in its second annual Machinery Shipments and Outlook report.
In 1995, the industry reported $3.82 billion in sales, a 10.9 percent increase over 1994. This was due to U.S. manufacturers improving efficiency and profitability by installing more automated machinery. But much of this increase was the replacement of older machinery with equipment designed generally for faster operation, easier diagnostics and greater flexibility for product or container size changeovers, PMMI said.
INDIANA TOWN MOURNS
REMOVAL OF TRACKS
SCHERERVILLE, Ind. - Residents are mourning the removal of railroad tracks laid down in the late 1800s. The tracks provided a way for milk, cattle, Army troops and travelers to arrive in this northern Indiana town.
''It's a sad moment to see it (tracks) removed. It's sentimental,'' said Art Schweitzer, president of the Schererville Historical Society.
Conrail Inc., which abandoned the tracks three years ago, is paying to remove them; more parking spaces will be added in the downtown.
The tracks were installed in Joliet in 1865 by the Chicago Great Eastern Ohio Panhandle Railroad Co., which later became the Pennsylvania Railroad. It and five other bankrupt carriers were later incorporated into Conrail.
$6 MILLION IN SMALL BILLS
HIDDEN IN CALI SHIPMENT
MIAMI - Federal agents needed three full days to count more than $6 million in suspected drug profits hidden in electronic equipment, U.S. Customs officials said Friday.
Customs and the Drug Enforcement Administration seized $6.27 million from a warehouse operated by freight forwarder Universal American Cargo Inc. They found the cash stuffed inside stereos, microwave ovens, televisions and toys. The goods were to be shipped to Cali, Colombia.