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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Aug 03, 1963
Page
3
The House Ways and Means committee formally adopted its plan to hike taxes on executive stock options. It kept the three year holding requirement that would make gains taxable at a 194 percent rate, with an amendment favoring executives if the stock declines but is sold within three years.
Dividend declarations cover Dividends Champion Papers Inc Usual quarter on common stock with Sept 1 payment and Aug 12 record. ACF Industries Inc 70 cents on common with Sept 14 payment and Aug 23 record. Annual meeting Aug 2 to consider a proposed 3 for 1 stock split. Hawaiian Telephone Co 16 cents on common with Sept 12 payment and Aug 23 record. Generak Battery and Ceramic Corp 10 cents on common with Sept 5 record Aug 15. Thompson Ramo Wooldridge Corp 38 cents on common and 1 cent on ent, Sept 15 payment. record Aug 8. Kern County and Land Co regular quarterly on common, Sept 3 payment. record Aug 12. KYP Sutherland Paper Co quarterly on common. Sept 10 payment. Aug 12 record. Montana-Dakota Utilities Co usual quarterly 3 cents on common, Dec 2 payment. record Aug 30. West Chemical Products Inc 23 cents on common with Sept 1 payment. record Aug 16. Bush Terminal Co Stock div 2 percent on common, Sept 18 record Aug 2. Studebaker Corp regular quarterly 25 cents on dis convertible preferred and 5 cents on second preferred series A. Oct payment. Sept 36 record. Giant Food Inc regular quarterly 1 cent on class A common. Aug 21 payment. record Aug 45.
London notes July reserves rose by 18.8 million dollars to a total of 2.7328 billion, after June saw a debt repayment affecting positions. Officials call July gains satisfactory, with seasonal factors and a gentler U.S. rate impact cited. End of July reserves stood at 2.0148 billion dollars and reference the prior June adjustment.
Phelps Dodge Corp reports six month net income ended June at $20,205,510 or $1.99 a share before depletion, down from $21,048,528 or $2.13 in 1962, with depletion of $549,074 vs $563,479. Sales fell to $108,066,501 from $172,579,604. Other firms listed include Ralston Purina, Richfield Oil, Torrington, Keystone Steel, Newmont, Cleveland-Cliffs, Pabst, Minnesota & Ontario, Carborundum, Fireboard Paper, Fram, New Process, General Cigar, Allied Chemical, Bucyrus-Erie, Leesona, Sonova, Howe Sound, Ryuk Cigars, and Western Union. Western Union reports six month net income of $5,910,250 or 7 cents a share for period ended June 20, with an extraordinary credit of $225,930 in 1983. Ford up 38, GM up 1-4, AMC and Studebaker mixed. bonds and government yields higher.
A Virginia firm will continue as a consultant to Davidson. Mr. Robertson stated the chemical firm will generate about 17 million dollars in the current year.
Premier and Communist party chief Umi yagin Tsedenbal of Mongolia arrives in Sofia Bulgaria for an official visit, Radio Sofia reports on August 2.
United Whelan Corp directors met in New York and again took no action on a common stock dividend. The latest payment was 714 cents in January. An unrelated report notes anthropologists claim a game with hat and ball was played in Egypt over five mills ago.
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