Berkshire had poor operating results for 1975...
The banking division of Illinois National Bank and Trust of Rockford is one of the most profitable banks in the nation...Eugene Abegg does an outstanding job running the bank...The bank's return on assets was almost four times the average bank's return...The bank remains very liquid...In 1932 Illinois National Bank earned $8,782 in its first full year of operation...Eugene Abegg started the bank in 1931...The bank started in 1931 with $250,000 capital...
The insurance division had its toughest year...The property and casualty had its worst year ever...Again, inflation, inadequate insurance rates, and other insurance companies not reserving enough against losses help produce unsatisfactory results in the division...Warren mentions the that insurance premiums will be up...
The textile division had a bad year...This would carry over into 1976...The textile industry is becoming increasing more difficult to make money...
Despite the textile industry problems, Berkshire buys Waumbec Mills and Waumbec Dyeing and Finishing Company...Two textile mills in New Hampshire...
Despite the textile industry problems, Berkshire buys Waumbec Mills and Waumbec Dyeing and Finishing Company...Two textile mills in New Hampshire...
No comments:
Post a Comment