report of the *<°' c % e \ £ ^rc S o« K / "Ever since our nation was founded, New York has maintained its position of industrial leadership." Hudson-Mohawk Valleys CONFERENCE ON INDUSTRIAL MODERNIZATION OCTOBER 15, 1964 Sponsored by GREATER ALBANY CHAMBER OF COMMERCE EMPIRE STATE CHAMBER OF COMMERCE ASSOCIATED INDUSTRIES OF NEW YORK STATE and the Albert F. Martin, President Empire State Chamber of Commerce U.S. DEPARTMENT OF COMMERCE Business and Defense Services Administration SPONSORS Greater Albany Chamber of Commerce, 450 Broadway, Albany, N. Y. Empire State Chamber of Commerce, 16 Park Street. Albany, N. Y. Associated Industries of New York State, 30 Lodge Street. Albany, N. Y. Business and Defense Services Administration, U. S. Department of Commerce, Washington, D. C. (Field Office: 350 5th Ave., New York City) COOPERATING SPONSORS Amsterdam Chamber of Commerce blnghamton chamber of commerce Colonie Chamber of Commerce Endicott-Vestal-Endwell Chamber of Commerce Glens Falls Chamber of Commerce Hudson Chamber of Commerce Oneonta Chamber of Commerce poughkeepsie chamber of commerce Rome Chamber of Commerce Saratoga Springs Chamber of. Commerce Schenectdy Chamber of Commerce Syracuse Chamber of Commerce Troy Chamber of Commerce Utica Chamber of Commerce Watertown Chamber of Commerce U.S. Department of Commerce Business and Defense Services Administration washington, d.c. 20230 OFFICE OF THE ADMINISTRATOR FOREWORD A continuous quest for greater productivity and therefore more profits is in the national interest. Achievement of national goals depends on a vigorous and strong industrial economy. The bases of an aggressive industrial establish- ment are modern machinery, dynamic leadership, and flexible procedures. Our competitive, private free enterprise system has built the most successful economy man has ever known. Yet, in the past fifteen years or so others, developing large contiguous markets and new technology, have become our successful competitors, largely because their equipment was newer and their methods less orthodox. This successful conference, summarized in the following pages, is one way in which private enterprise and Govern- ment can work together. We want to be sure that U. S. technology, U. S. productivity, and U. S. ingenuity stay out front. Academicians, businessmen, trade associations and Government alike benefit from a sound and expanding economy. Removing the roadblocks to business expansion is Government's job. Business must do the rest. V. George Donat Administrator Hudson-Mohawk Valleys CONFERENCE ON INDUSTRIAL MODERNIZATION Schine Ten Eyck Hotel MORNING SESSION 9:30 AM EMPIRE ROOM PRESIDING Albert F. Martin, Jr., President, Empire State Chamber of Commerce. GREETINGS Erastus Corning, II, Mayor, City of Albany, N. Y. "MODERNIZATION — KEY TO NEW MARKETS" George Donat, Administrator, Business & Defense Services Administration, U. S. Department of Commerce, Washington, D. C. "WHAT IS OUR COMPETITIVE POSITION?" Richard F. Torrey, Director of Area Development, Niagara Mohawk Power Corp., Syracuse, N. Y. "INDUSTRIAL SCIENTIFIC RESEARCH" Dr. John C. Fisher, Manager, Liaison and Transi- tion Section, Research Application Department, General Electric Research Laboratory, Schenec- tady, N. Y. CASE STUDIES IN MODERNIZATION Arthur Snyder, Controller, Behr-Manning Com- pany, A Division of Norton, Company, Troy, N. Y. Eugene R. O'Haire, President, Albany Universal Auto Parts Corp., Albany, N. Y. CONSULTATION PERIOD 11 :00 AM HARLEQUIN ROOM 12:15 PM LUNCHEON PRESIDING EMPIRE ROOM Lester W. Herzog, Jr., President, Greater Albany Chamber of Commerce. "BUSINESS AND GOVERNMENT — A PARTNERSHIP FOR PROFITS AND GROWTH" An address by Jack N. Behrman, Professor of International Eco- nomics, University of North Carolina, and former Assistant Secretary for Domestic and International Business, U. S. Department of Commerce, Washing- ton, D. C. AFTERNOON SESSION 2:00 PM ROOMS TO BE ANNOUNCED PRESIDING Joseph R. Shaw, President, Associated Industries of New York State. WORKSHOPS Management Donald D. Deming, Associate Professor, School of Management, Rensselaer Polytechnic Institute, Troy, N. Y. Marketing Irving Storch, Sales Manager, Syracuse Orna- mental Co., Inc., Syracuse, N. Y. Finance Frank H. Odell, Vice President, State Bank of Albany, N. Y. Plant and Equipment William W. Beardslee, Manager Manufacturing Engineering Service, General Electric Company, Schenectady, N. Y. PROGRAM ALBERT F. MARTIN — As President of the Empire State Chamber of Commerce, which is one of the sponsoring organizations for this meeting, it is my pleasure to welcome you to this Conference on Industrial Modernization. All of us are interested in a growing, thriving economy for New York State. We are here to discuss some facets of the problem of how to con- tinue to adapt ourselves to change. MAYOR ERASTUS CORNING, II — The tremendous number of top people in industry here is an indication of the great importance of modernization to all of us. Every industry should be as competitive and modern as possible. This modernization conference is good for our State, good for the Nation, and for the world. The Department of Commerce is providing a real service to this area by helping sponsor this conference. GEORGE DONAT- -"MODERNIZATION— KEY TO NEW MARKETS" BUSINESS IS LIVING IN AN AGE OF INTENSE EXCITEMENT AND CHALLENGE. THE WORLD OF TOMORROW WILL BELONG TO THE DYNAMIC MANAGER OF TODAY. Never in the 150-year history of manufacturing has a businessman had to know so much about so many things, and never has he had as many opportunities to expand his markets and reap greater profits as he has today. Business survival today is measured in terms of business growth. To just get along is no longer enough. This only means dying a little each day. A society to be great must have the resources to become great. In our free, competitive, private-enterprise system, a high level of business activity at a more than adequate level of profitability is the key to greater job opportunities, broader education, a higher standard of living, and more cultural attainment for all. Profits have turned the corner and hopefully will continue to rise. Modernization of plant, equipment, methods, systems, and management phi- losophy all can play their role to improve profits, as have the invest- ment tax credit, the revised depreciation guidelines, and the income tax cut. It is important that northern New York be competitive around the world. A market of evergrowing proportions awaits the venturesome, the productive, and the efficient. World trade can be expected to increase to $200 billion by 1975, and the U.S. population to increase to 216 million by that time. We can expect Gross National Product to reach $1 trillion by 1977, and we can expect tariff and non-tariff barriers to be substantially lower than now. In view of all these expectations, the world of tomorrow will belong to the dynamic manager of today. It is Government's job to remove the obstacles in the path of business--it is the job of business to take full advantage of the open road. RICHARD F. TORREY— "WHAT IS OUR COMPETITIVE POSITION 1 ' IF WE ASSUME THAT OUR PLANTS, OUR EQUIPMENT, AND OUR PROCESSES ARE SO FAR AHEAD OF THE REST OF THE NATION AND THE WORLD THAT WE NEED NOT FEAR COM- PETITION—WE WILL NOT BE GETTING OUR SHARE FOR MODERNIZATION, AND WE WILL LOSE GROUND TO OUR COMPETITORS. We are not competitive enough. We consider the northeastern section of the United States to be the world's finest market. Located in this area is one-third of the Nation's in- dustrial complex, yet only one-fifth of total national investment for expansion and moderni- zation is being spent here. America's industries are now shifting their emphasis toward increasing production capa- city, instead of concentrating principally on new equipment. During 1964 about $44 billion will be invested in new plants and equipment, of which one-third is earmarked for expansion. Next year the figure for ex- pansion will increase by $2 billion to a total of $18 billion. As the general level of business operations rises closer to capa- city, the needs for expansion become more apparent . A review of our local industries indicates. many exciting expansion projects are under way. Some of these new plants will be devoted to new industries, and the rest will serve to expand or modernize established ones. In the machinery, transportation equipment, aerospace, fabricated metals, and instrument industries about 20% of sales in 1967 will be in new products resulting from research and development. The drive to modernize will continue as industry seeks to reduce costs and become more efficient. About one-third of industry's capital investment will be in automated machinery and equipment. If your company is not committed to a program of industrial modernization and expansion within the immediate future, perhaps this may be the most important time for reevaluation. Will you be able to compete in the near future with companies which have modernized and increased their capabilities? Companies cannot stand still. If they do not advance, they retrogress. Both Federal and State Governments have recently taken steps to help you through liberalization of tax laws relating to investment. Some people are beginning to take advantage of this program. If not you, perhaps your competitors. Our company has launched a new profit plan, called the "Double 0" program, to develop profitable opportunities from abroad. It is designed (1) to find new products of foreign design for Empire up-State manufacturers to produce, and (2) to find foreign buyers for products of up-State industries. We publish listings of foreign products of new design that are available under license for manufacture, and information on export opportunities in our Empire up-State. Key indicators point to an ever increasing investment in new plant and equipment, but the statistics indicate that our area is not getting its share. This is the world's richest market, and it is the logical and prof- itable area for a manufacturer to locate. Competitive we are today .. .Competitive we must be tomorrow. . .Only you can determine how competitive we will be. JOHN C. FISHER- -"INDUSTRIAL SCIENTIFIC RESEARCH: ITS ROLE IN INDUSTRIAL MODERNIZATION" IN OUR CONTINUING COMPETITIVE STRUGGLE TO MODERNIZE AND GROW, WE MUST BE SURE THAT WE ARE FULLY EMPLOYING THE TREMENDOUS ARRAY OF OUTSTANDING SCIEN- TIFIC AND TECHNOLOGICAL RESOURCES THAT ARE AVAILABLE. It is easy to attribute the recent surge in foreign competition entirely to lower wage rates abroad or to new postwar manu- facturing facilities, but we should not overlook the importance of new scientific discoveries made in research laboratories and the growing ability of our overseas competitors to adopt new ideas. Thus any conference on industrial modernization must recognize the international nature of research and development (R&D). In evaluating R&D and developing a research strategy, a manager should periodically ask himself: 1. What is the basis for my business? 2. What discoveries could make this per- formance or service I sell obsolete? 3. Which technologies could help improve my product to serve my customers better? 4. Which technologies could result in a new product which provides the service better or more economically? 5. Where can I get help in appropriate technological areas? Regardless of the size of an organization or its R&D resources, numerous ways exist to tap the world of science and technology: 1. A one-man staff may be appropriate. 2. A team laboratory may be most productive. 3. A consultant plus contract research program. 4. An industrial research institute. 5. Suppliers of materials for the product. 6. An inventor of special processes and equipment. Invention continues to be an important factor in American business and world trade. But we must remember: First, Americans have no monopoly on ingenuity; second, ingenuity is increasingly marketable everywhere in the world. New materials will be an area of opportunity for competitive manufacturers. Development of new lower cost materials with improved properties is a permanent objective of a significant fraction of all industrial R&D and is frequently realized. Likewise, information systems--computers--can sharply reduce costs and improve the effectiveness of total business operations. Their use ranges from the fully automated steel rolling mill to the automatic control of an individual machine tool. As the trend toward design of larger and faster computers continues, the need grows for information handling centers serving many customers on a contracted schedule basis. The materials revolution and the information systems revolution are going on right now. It is very important for the U.S. businessman to evaluate carefully the significance of these developments to his own operations. Regardless of the product or service involved, doing business "the same old way" may no longer be economically possible. ARTHUR SNYDER- -"MANAGING CAPITAL EXPENDITURES FOR MODERNIZATION " THE PRICELESS INGREDIENT IS STILL THE ABILITY OF MANAGEMENT TO SENSE AND PROMOTE THOSE OPPORTUNITIES FOR CAPITAL INVESTMENT WHICH PERMIT THE OPTIMUM UTILIZATION OF CORPORATE FUNDS. Investment of corporate funds has always been one of management's principal responsibilities and headaches. Acquisition of new equipment or major commitments for the expansion or modernization of facilities requires a continuous stream of decisions. They form the framework for a company's development, future course, and profitability. Accele- rated technology and changing market con- ditions have narrowed the time span between the creation and obsolescence of products and processes. Formal systems of capital budgeting and expenditure authorization have taken the place of the "one-man show" in most businesses. New and more comprehensive methods have emerged to challenge the "off-the-cuff" method of decision making. Top management has to understand, sponsor, and give personal leadership in investment decisions to make certain that they are properly administered. Few other executive ARTHUR SNYDER responsibilities play a more important role in determining the financial health of a business, and in an overall sense, the industrial health of the Nation. The basic prerequisites of good capital management are: 1. Careful study of capital requirements. 2. Sound appraisal of proposed projects. 3. Close control of expenditures. 4. Post audit to verify forecast savings, reveal reasons for failures, and aid in assessing future proposals. In making capital expenditures for new equipment we should consider: 1. Investment and potential return. 2. Service life and salvage value. 3. Future alternatives. 4. Accounting and timing of purchase. 5. Potential relationship to other equipment, and effect on work flow. Financial considerations are only part of the factors which management must consider in determining how best to modernize. Others here will develop these ideas more fully. E.R. O'HAIRE— "MODERNIZATION AT ALBANY UNIVERSAL AUTO PARTS CORPORATION" FIND A NEED AND THEN OFFER YOUR SERVICES TO FILL THAT NEED. Immediately after World War II the automotive parts wholesaler had problems and opportunities. Not only were few or no cars being produced, but parts also were scarce. Parking facilities were lacking. Mass merchandizers had advantages over the independent merchandiser. Diversification seemed in- dicated, but how could it be accomplished. In 1956 we decided to specialize in shop work. The next year we selected a new location and enlarged our shop facilities. We entered into extensive training and retraining of salesmen. We conducted transportation conferences. Direct mail advertising helped quadruple the number of our customers. We now provide convenient parking for our customers, thus making it easier for them to bring us their business. As our shop work increased, we enlarged the facilities and improved the machines and equipment for our work. We have amortized the cost of new equipment out of profits. Since 1957 our volume has grown by 132%, or about double the rate for the industry. This growth has helped us acquire some national accounts, which represent a sturdy support for our level of business. Our publicity has led to national and international recognition. We are constantly looking toward the future, and regard the projections in new motor vehicle sales with optimism. We are interested in diversifi- cation as a means of supplementing our business. We try to approach change gradually to avoid mistakes due to haste. Above all, we try to find the need and then offer the service. LESTER W. HERZQG, JR. - I want to express my thanks -- as President of the Greater Albany Chamber of Commerce — to the others who have cosponsored this Conference with us -- among them, the Empire State Chamber of Commerce, the Associated Industries of New York State, and the Business and Defense Services Administration of the U. S. Department of Commerce. JACK N. BEHRMAN— "BUSINESS AND GOVERNMENT--A PARTNERSHIP FOR PROFITS AND GROWTH " IMPROVEMENTS CAN REPRESENT GREATER TURNOVER AND LESS LEFTOVERS, SPEED-UPS IN PRODUCTION AND DISTRIBUTION, MORE GOODS FOR THE SAME MONEY OR THE SAME GOODS FOR LESS MONEY. Decisions of Government and business are often interrelated. We want to sell pro- gress and modernization to you. Modern technological tools insure improvements to help meet and beat competition at home and abroad. Your Government is interested in your progress and success. It wants to help overcome any complacency which today's prosperity may be inducing. Often, the help your Government can provide may be the margin between success or failure. The tax cut, the investment credit allowance, the liberalized depreciation program and other Government tax changes can and have helped many companies modernize. These actions have substantially increased corporate cash flow and permitted drastic changes in corporate capital spending programs. Besides the tax benefits, there are several other ways the Government can assist in normal business activities. In addition to these Modernization Conferences, there are export development and promotion activities which are extensive and frequently very helpful. The trade fairs and exhibits around the world include U.S. exhibits which are assembled and supported by the Department of Commerce. We have permanent Trade Centers in five major cities around the world. Trade missions are constantly being organized to acquaint U.S. businessmen with export market potentials. Perhaps the most exciting export possibilities are in the European Economic Community countries. These six countries are growing at a tremendous rate, in part because of their progress toward ecnomic inte- gration. Many U.S. businesses have found this growing market and pros- perity an excellent opportunity to expand exports. Aggressive U. S. firms are also finding important new or expanded markets in other European countries. As our total exports increase, each company should ask itself if it is getting its share of this expanding export market. Modern management should ask if it is preparing today for tomorrow's markets, not just at home, but all around the world. These questions and activities suggest ways in which your Government can assist in normal business activities. The answers cross organizational lines and indicate the sophistication of the relationships between various departments within a business and they suggest how the Government can be useful. The several workshops, led by your outstanding industrialists and business- men, should point you toward improved management and increased production. In that direction also will come greater profits. DONALD DEMING--"MORE EFFECTIVE MANAGERS FOR MORE EFFECTIVE PLANTS " NEARLY EVERY CASE OF BUSINESS FAILURE IS DUE TO SOME INADEQUACY IN MANAGEMENT, For every successfully launched business, there are a large number that fail. Generally the failures occur among the small businessmen who need to be experts in so many fields, and whose lack of know-how in any of a large number of areas can and usually does spell diaster. Many of today's companies, after a successful launching, improve in earning capability to a certain point and then seem unable to advance further. A few companies will grow and develop to the full potential of their markets and then find ways of growing in new directions. Their success is almost entirely attributable to the competency and alertness of the key managers. What makes successful managers? They must have a strong desire to succeed. They need knowledge and experience. They need the determination and ability to acquire even more knowledge and experience. While the school of hard knocks is considered a good training ground by many companies and managers, most effective organizations want men with experience supplemented by formal learning. The manager who wants to succeed can learn much from books, teachers, and students concerned with business problems similar to his but whose work backgrounds differ. IRVING STORCH— "MODERNIZATION OF OUR MARKETING EFFORTS AND TECHNIQUES" IF THE SAME DEGREE OF APPRECIATION WERE GIVEN TO THE STUDY OF MARKETING AS IS GIVEN TO TECHNICAL CHANGES MANY BUSINESS PROBLEMS WOULD NOT EXIST. When statistics indicate that many companies fail to produce profitable sales, this doesn't speak too well for their marketing techniques. The business which maintains the status quo in its product lines, because they sold well in the past, is selling "old hat." Small and medium-size com- panies must recognize the importance of an organized, updated marketing effort in maintaining a profitable growth pattern. If they cannot afford the necessary staff, they can seek outside help. The marketing division must keep abreast of what the consumer and the dealers are seeking. Because their desires change, the marketing manager has to anticipate needs and communicate them to production, so that the company produces what is wanted. Development of new products is risky, but essential to continued expansion of markets. Seeking a larger share of an existing market can be very costly, because increasing the volume of sales can become too costly. On the other hand, developing allied products can facilitate marketing and permit expansion at a profit. Customer service can be an important marketing tool. Once a company gets a reputation for service, its customers will stay with it. Invading new markets can lead to greater production and profits, but it requires specialized merchandising. Export markets are perhaps the most important new markets to be exploited. Inflation in many areas of the world increases the competitiveness of our products. While each area of the world has its specialties, Europe is undoubtedly our best market potential. The new exporter can call on many businesses and Government agencies to assist him in entering foreign markets. Getting into export can be a pleasing and profitable experience, but it may be a slow process. Specifications and general requirements may differ. European pruchasers may distrust U.S. sellers and want price cuts. They move slowly. Modern marketing could be described as a "state of mind." But it must be well trained and disciplined. Adequate research, feel of the market and customer preferences, and the support of sufficient publicity and adver- tising are all a part of successful marketing. FRANK H. ODELL- -"FINANCING MODERNIZATION AND VICE VERSA" THE FINANCIAL FUNCTION HAS MORE URGENT RESPONSIBILITIES THAN IT HAD A FEW YEARS AGO. Financial management has to be as modern as the plant and facilities in order for a business to remain competitive. A business should ask; 1. Are we doing the financial planning we should? 2. Are we exercising financial control effectively? 3. Where do we get funds to modernize? 4. Can we provide a lender with informa- tion necessary to make decisions on a long-term loan application? A company should not only maintain up-to-date record keeping systems, but it should also know its costs. Projections of finances are essential in setting goals and in evalu- ating programs. Profits, depreciation, and cash flow involve tax as well as other considerations. Liberalization of depreciation charges, investment tax credit, and reduction of income tax rates all tend to generate larger cash flows and to stimulate investment in plant and equipment. Small businesses can use their independent accountant to help assemble such information. There is a wide range of possible sources of funds, both internal and ex- ternal. Internal sources commonly considered are profits, tax savings, investment tax credit, and depreciation, but little attention is given to the possible sale of unneeded assets such as an obsolete plant or a piece of equipment. Funds may also be supplied by an increase in owner invest- ment. External sources of funds include: 1. Capital or equity from private or public investors, 2. Term loans. 3. Mortgage loans. 4. Equipment loans. 5. Leasing. 6. Small business investment corporations. The banker is often the first resort for external finance; however, he may turn to other supplementary sources for the capital needed, possibly taking a part of the loan himself. Often owners can obtain external credit by adding their endorsements to corporate obligations. Other external sources of funds are insurance companies, local brokerage firms, real estate investors who will buy and build on a lease contract, and the several cooperative or Government agencies such as: 1. New York Business Development Corporation. 2. New York Job Development Authority. 3. Area Redevelopment Administration. 4. Small Business Administration. Regardless of the kind of investor or the source of the additional capital funds, the information needed before funds can be made available generally is the same: 1. Balance sheets, operating statements, and a statement of surplus reconcili- ation. 2. Business reports covering the past several years. 3. Projection of business after loan funds have been used for their planned purpose. 4. An indication of how proposed changes affect the operating statement. In addition, an applicant for a loan should be prepared for the lender to tour his facilities and ask about his product, competitors, suppliers and other creditors, channels of distribution, and similar nonfinancial factors in- fluencing the appraisal of his business. WILLIAM W. BEARDSLEE— "PLANT AND EQUIPMENT MODERNIZATION" YOU CAN'T HAVE YESTERDAY'S PLANT AND EQUIPMENT IN TODAY'S MARKET AND EXPECT TO BE IN BUSINESS TOMORROW. Several major factors motivate management to invest in new plant and equipment: 1. The increasing difficulty of selling the same old products in today's marketplace. Over a third of General Electric' s current sales are derived from products which didn't even exist 10 years ago. New plant and equip- ment is needed to produce these new materials and require new processes and equipment in order to be produced competitively. 2. The need for far more flexibility in production processes because of the emphasis on new products and meeting consumer desires. The number of our appliance models has increased by 11 times in the past decade. Models of washers, for example, have increased from 1 to 100. To avoid excessive inventories, our company has had to transform its "long run-single product" production facilities to flexible shops "capable of turning around on a dime." 3. The "cost-price" squeeze. Although our company has greatly improved the quality and performance of our products, our prices have remained almost steady in the past decade. Yet our labor costs have risen by 44% and materials costs by 10%. Increasing productivity has been our only way to offset these rising costs. 4. International competition. This also has forced our company to find new ways to be competitive. Our very existence is dependent upon having the lowest worldwide cost. Through investment in every segment of our business, we have succeeded. 5. The necessity for each business to keep alert to the opportunities to reduce cost and increase quality through incorporating appropriate new pro- cesses and equipment into its manufacturing operations. Computers, electro- lytic grinding, electro-discharge machining, plasma arc welding and cutting lasers, and many other new processes have emerged from recent research and development. ************* ******* Additional copies and further information can be obtained from U.S. Department of Commerce Field Office 61st Floor, Empire State Building 350 Fifth Avenue New York, New York 10001 This Office exists to serve you. In addition to assisting and promoting industrial modernization, this Office is responsible for helping foster, promote and develop our foreign and domestic commerce. PENN STATE UNIVERSITY LIBRARIES EXHIBITORS* ADDD0712fi7SS3 International Business Machines, Inc (J.L. Sherry) 560 Broadway SCM Corporation (Jack Elliot) 85 Watervliet Avenue Martin Business Furniture, Inc c (Duncan Martin) 350 Broadway Humble Oil and Refining Company (Karl Fink) P.O. Box 1840 REA Express (Walter C Virkler) 520 Broadway Sager-Spuck Supply Company, Inc« (Bernard Murphy) 432-444 S Pearl St. Graybar Electric Company, Inc. (Henry Fitzpatrick) 40 Van Woert Street Albany Business Machines, Inc. (Elmer Parker) 285 Washington Ave. Automatic Retailers of America (Alan Sweeney) 1623 Central Ave. Xerox Corporation (Thomas McCobb) 1648 Western Avenue Albany Designing, Inc. (Adam Becker) 927 Broadway Frank G. Shattuck Company (A. Bruce MacDonald) 50 West 23rd St., New York City Lawrence Warehouse Company (David Williams) 200 Park Ave. New York City U.S. Department of Commerce Field Office (Arthur Rut z en) 350 Fifth Avenue, New York City G. E. Credit Corporation (Leo L. Ross) 570 Lexington Avenue, New York City New York Telephone Company (Russell Scofield) 158 State St. New York Chapter Association of CPA'S (Floyd Curtis) 111 Washington Avenue Eastern New York Chapter American Institute of Architects (George Vikre) 434 State Street Schenectady Eastern New York State Chapter Association of Consulting Engrs. (Robert Ganley) 6 Plaza American Society for Quality Control (John Goodrich) 1 River Road Schenectady Albany Port District Commission (Frank Dunham) Administration Bldg, New York Business Development Corp. (David Duggen) 11 N. Pearl St. Area Redevelopment Administration (A. Yakely) 100 State St. Small Business Administration (Frank Mentillo) Chimes Bldg. Syracuse * Unless otherwise specified, exhibitor is in Albany.