Atchison newspapers sold

ROCK PORT, Mo. | Two years of discussions between cousins resulted in the sale of two weekly Atchison County newspapers. W.C. Farmer and Mike Farmer of Rock Port have purchased The Tarkio Avalanche and the Fairfax Forum from Will and Joy Johnson of Tarkio, Mo.

“We’re going to keep all three papers as independent operations,” said W.C. Farmer, publisher of the Atchison County Mail.

The Farmer family purchased the Atchison County Mail in 1984. The Johnson family purchased the Tarkio Avalanche in 1981.

The two families have been talking about the subject for two years, Mr. Farmer said.

Atchison County is witness to a fair amount of outside investment in the last few years.

The positive signs suggest it would be a good time to buy the other two papers, the publisher said.

The Johnsons will continue working in the newspaper business, too. Their son, Adam Johnson, publishes the Mound City News in Mound City, Mo.

“We’re in the process of finishing a new building by Sept. 1 for an eight-unit Goss Community web press,” Adam Johnson said. The presses will give the Mound City News full-color capabilities, he said.

There are discussions about having the Mound City plant print color editions for Fairfax and/or Tarkio.

Business prospect on horizon?

Business attraction prospects have dipped nationwide since the economic downturn hit with full force in late 2008.

St. Joseph is no exception, but economic-development officials are hoping to reel in a big fish. St. Joseph could hear word on a significant economic development prospect this week.

A manufacturing company has made three site visits to St. Joseph and is expected to make a decision on a location of a new facility that could ultimately employ 300 people. Some local officials discussed the potential of luring the comany following an economic-development meeting last week at the St. Joseph Area Chamber of Commerce, which leads business attraction efforts in St. Joseph.

“We hope to have some exciting news other than the Chiefs,” said R.T. Turner, presiding commissioner of Buchanan County and a member of the Chamber’s board.

Foreclosure rates rise

Foreclosure rates in St. Joseph increased for the month of June over the same period last year, according to a company that tracks real-estate trends.

CoreLogic, based in Santa Ana, Calif., said the rate of foreclosures among outstanding mortgage loans in St. Joseph was 1.47 percent for the month of June, an increase of 0.49 percentage points compared to June of 2009 when the rate was 0.98 percent. Foreclosure activity in St. Joseph is lower than the national foreclosure rate, which was 3.06 percent for June.

Also in St. Joseph, the mortgage delinquency rate has increased. CoreLogic said 5.12 percent of mortgage loans were 90 days or more delinquent compared to 4.48 percent for the same period last year.