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Financial problems hit Pocono Raceways, Inc.

• The Pocono Record 'The Stroudsburgs, Pa. Mon., Jan. 9, 1967 9 But Montgomery optimistic Financial problems hit Pocono Raceways, Inc. MT. POCONO Pocono In. ternational Raceways, Inc. needs more financing but could open Its gates this summer, according to David Montgomery Its president. The timing, howover, will depend on when necessary mortgage money can be obtained, How much more is needed? Montgomery paries but says, "The tight money situation around the country is easing. At prosent we are continuing talks with two interested sources which could provide us with the • mortgage." Montgomery says ho remains "highly confident" that every Invester in the Raceway will be more than pleased with the de. cision to become a stockholder. Tocks historical program defended ed STROUDSBURG - Historical purposes of the Delaware Water Gap National Itecrention Area (DWGNRA) were defended by the president of the Monroe County Historical Society Saturday at ils annual business meeting. Dr. Alfred D. Sumberg in a. president's report, said, "critics DWGNRA have done their very best to mislead the public about the historical prograns planned far the recreation arca." lie was answering comments by Mrs. Nancy Shukaltis, secretary of the Delaware Valley Conservation Association, that the historical aspect was brought up because (she said) "it sounded nice, and might al- tract people with an interest in history to back their cause." Sumberg said the local society has been challenged by DWGNRA with developing now programs, new publications, now historic sites and encour. aging historical zoning within Monroe County. Horace G. Walters was elected president of the socicty; Dr. Kurt Wimer, first vice president and Jesse R. S. Flory, second vice president. Directors elected were: Mrs. Robert Haigh; Mrs. Loring Cramer; Mrs, Elwood Grant: Mrs. Elmer Christine, and Francis R. Drake, The new officers and directors will be installed al the socicly's dinner meeting Saturday al East Stroudsburg State College, Ecumenical first at Barrett Jan. 15 CANADENSIS - The first ecumenical program In Barrett Township will be held on Sunday, Jan. 15, at the :Pocono Catholic Missions School, follow. ing a covered dish supper, The meeting will be in the form of a panel discussion on the subject of ecumenism, moderated lle hinted counter action Is ahead in the current suit by the Schwarlz and Baker contracting firm of Scranton to collect money the firm says is due from the Raceway for construction at the racing strip. The suit charges that $176,219 is unpaid and overdue. The huge racing complex at Long Pond has had ils share of headaches. Conceived secret 311 idea in 1957, the 1,025 tract has advanced In a 10-year span to a stage where the main racing track is a banked and graded dirt rond. The track's opening was once slated for last August. But a soggy Spring cut down construetion progress, Montgomery says. The Vietnam conflict has raised the price of steel. Tight money then delayed the laying of conoreic on the 2½ mile oval track this past year. But Montgomery considers the outlook for the raceway at the present lime as "extremely good." Last fall the raceway was named official lost track o! 111e Raybestos Division ol Raybestos • Manhaltan, Inc., Bridgeport, Conn., a brake man• ulacluring concern; Monlgomery notes. In a letter dated Dec. 12, 1960, from Harry 11. 1. Brainerd, Pennsylvania Commissioner of Traffic Safety to Willis W. Jones, executive vico president, Scranton Chamber of Commerce, the department expresses great in• torest in the establishment of a Traffic Safety Center at the racoway. Montgomery said that the interest in motor vehicle safely and testing at the racoway is very high from both private and government sources. "Besides Raybestos, there are others," he says. "Inciuded are Thermoid, Dunlap Fire and Rubber, Goodyear, Mack Truck and Ashland Oil, all of which have expressed a definite interest in the raceway for the testing ol their products," Mont• gomery said, It is planned that future programs .will discuss similaritles and other phases of the three denominations, in an effort to join the congregations of the churches in their Christian service, worship and prayers for world peace. Lay members of the churches
Article from 09 Jan 1967The Pocono Record(Stroudsburg, PA)
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