From the Washington (Pa.) Observer-Reporter, April 16, 1971:
Corporation Purchases Company Town
Searights, Pa. - Last February, Eva Angelo decided to sell most of this 750-resident "company town" which her husband purchased from a coal firm in 1937. Three men acting as a corporation bought the town Thursday ... They also have options on the remainder of the buildings and land excluding Mrs. Angelo's home, a 47-room building which also houses a general store and barber shop, and another house owned by her daughter. Mrs. Angelo's husband bought the town, which has never been incorporated, from Republic Steel Corp. for about $50,000, according to one of his sons. Since his death, his widow has been running things but she decided owning a town involved too much time. "I want to relax," she said.
The town was built by the steel company for its employees who worked its coal mines and coke ovens in this area. It was a boom town while the coal lasted, but now most of the residents are elderly couples and retired coal miners. "We plan to rehabilitate the town, not just the houses but the entire community," said [new owner] Lepore. He said current plans call for construction of streets, sewers and recreation facilities. "We picture this as a model community and if things work out right and we can get government subsidies the people residing here can continue to do so without much of an increase in their rent," Lepore said.