LISBON FALLS – It looks now as if the long talked of new mill would be a reality by another summer. It is to be a worsted mill and will be erected by the Worumbo Co. on their land near the site of the Androscoggin Water Power Co.’s office. This is good news to the people of this vicinity as probably 200 or more hands will be employed. This means a big boom to business here.
50 Years Ago, 1957
•WASHINGTON – The White House announced today King Saud of Saudi Arabia will visit President Eisenhower later this month for discussion of Middle Eastern problems. The King’s forthcoming visit will mark the first time a reigning monarch of Saudi Arabia has visited the United States.
•AUGUSTA – A thorough study of all industrial pension plans in effect in Maine was recommended today by the Maine Committee on Aging. “Retirement plans participation,” the committee said, “represents an important part of a person’s savings toward retirement and his livelihood after retirement. It would seem to be in the interest of the state and all citizens that these funds and investments be viewed with the same reverence as that awarded savings bank funds.”
25 Years ago, 1982
•The American Telephone & Telegraph Co. agreed to sell its 22 Bell operating companies, worth an estimated $80 billion, in the settlement Friday of the government’s 7-year-old antitrust case against the world’s largest corporation. Assistant Attorney General William F. Baxter said the agreement with AT&T will mean more competition in the telecommunication industry. But he conceded that local phone rates are likely to go up in those areas served by the Bell companies which AT&T must divest within 18 months.
•The Justice Department on Friday dismissed the government’s 12-year-old suit that charged the International Business Machines Corp. (IBM) with monopolizing the computer industry.