MEMO

Total construction activity in Missouri was down in December but finished the year ahead of 1993 levels.

The F.W. Dodge Division of McGraw-Hill, an authority on the construction market, reported total construction for 1994 at $5,468,712,000, up 7 percent from 1993 totals of $5.1 billion.

State nonresidential construction, which includes commercial, manufacturing and other buildings not designed for shelter, was reported at $1.96 billion, up 1 percent from the $1.85 billion in 1993.

Residential construction was up 7 percent, at $2.5 billion in 1994, compared to the $2.3 billion in 1993.

Nonbuilding construction, which includes streets, highways, bridges, river and harbor developments, airports and a few other projects, was reported at $989,918,000 for the year, up 21 percent from 1993, at $815,090,000.

December totals in nonresidential construction were about the same as a year ago, at $124,115,000 in 1993 and $124,035,000 in December. Nonbuilding construction was reported at $31,689,000 in December, down a whopping 70 percent from the $104,217,000 of December 1993. Residential construction was down 40 percent in the state in December, at $124,008,000, compared to the 1993 December totals of $208,181,000.

Total construction for December was down 36 percent, from $279,732,000 this year compared to $436,513,000 during December 1993.

The Small Business Development Center at Southeast Missouri State University has become a satellite office of the World Trade Center of St. Louis.

The World Trade Center of St. Louis opened in February 1993 and is one of the more than 280 world trade centers in more than 81 countries.

Each center's goal is promoting and helping to establish international trade. The centers are supported by, and cater to, the international needs of their clients and local communities said Stacy Engles Wipfler, international trade specialist with the St. Louis center.

The satellite office at the small business center, 222 N. Pacific, will be the fifth affiliated with the St. Louis center. Other satellite offices are in Springfield, St. Peters, Jefferson County and downtown St. Louis.

The Greater Cape Girardeau Development Corp. will elect new directors and review the past year's activities during a meeting Feb. 13, to be held at Drury Lodge in Cape Girardeau at 7:30 p.m..

Directors whose terms expired Dec. 31 include A. W. Birk, Raymond Buhs, Charles Hutson, Fred R. Wilferth and Jim Rust.

Other directors include S. Cordell Dombrowski, Mike Edwards, James Lansmon, Charles "Bud" Leming, Mike Richey, J. Ronald Fischer, Robert B. Hendrix, Harry Rediger, Gary Rust and Clarence Lee Shirrell.

The Fastenal Co.'s net sales for 1994 were $161,886,000, an increase of 46.98 percent from 1993 sales of $110,307,000.

Fastenal, national distributor of threaded metal products and related construction supplies, is headquartered at Winona, Minn., and has a branch facility at 2228 Bloomfield Road in Cape Girardeau.

The company's sales were up 48 percent during the fourth quarter of 1994, at $45,008,000, up from $30,334,000 during the same period a year ago.

Fastenal opened 68 new stores in 1994, bringing the total number of stores to 324.

ST. LOUIS -- Worthen Banking Corp. of Arkansas will change its name to Boatmen's Arkansas Inc., bank officials said.

The name change goes into effect March 1. It reflects Boatmen's Bancshares Inc.'s purchase of Worthen, a $3.5 billion bank holding company based in Little Rock.

The acquisition of Worthen was approved two weeks ago by the Federal Reserve. The St. Louis-based Boatmen's is buying Worthen and its 112 branches for about $510 million in a one-for-one stock transaction.

Boatmen's also announced last week that Charles B. "Chip" Dudley III, 47, head of Boatmen's operations in Memphis, Tenn., will be the new chairman and chief executive officer of Boatmen's Arkansas.

Curt Bradbury, chairman and chief executive officer of Worthen, said a shareholders' meeting on the merger has been scheduled for Feb. 24, and the deal should close Feb. 28. That day would be Bradbury's last day as head of Worthen.

Roosevelt Financial Group Inc., headquartered at Chesterfield, Mo., and Mutual Mortgage Corp., Kansas City, have jointly announced they have agreed to form an alliance to market mortgage loans in the Kansas City metropolitan area.

Mutual Mortgage Corp. is a privately held mortgage brokerage company, headquartered in Overland Park, Kan. Mutual originates mortgage loans primarily in the Kansas City area.

Under the terms of the agreement, Roosevelt will assume an equity interest in Mutual, which will change its name to Roosevelt Mortgage.

Roosevelt Financial Group Inc. is the holding company for Roosevelt Bank, Missouri's third largest financial institution with more than $8.4 billion in total assets and 79 full service offices including a branch at Cape Girardeau.

Roosevelt Financial also announced a quarterly dividend on common stock of 14 cents a share, payable Feb. 28, to stockholders of record as of Feb. 14, an increase of 27 percent from the 11 cents a share paid last quarter.

"Business After Hours," will be held Feb. 21, at the Show Me Center, from 5 to 6:30 p.m.

The monthly gathering, sponsored by the Chamber of Commerce's Membership Committee, is designed to unite chamber members in a relaxed atmosphere and encourage members to meet, mingle and make new business contacts.

This month's meeting is sponsored by South East Missouri Bank, 111 S. Broadview.