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Bridgeport Telegram in Bridgeport, Connecticut

04 Dec 1957

Page 17

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Bridgeport Telegram December 4, 1957 Page 17 old newspaper archives

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Newspaper

Bridgeport Telegram

Location

Bridgeport, Connecticut, United States of America

Date

Dec 04, 1957

Page

17

Market News on Foam Production and Mergers

Scott Paper Co. begins urethane foam production, its first nonpaper product for insulation cushioning and mop or sponge manufacture. Housing contracts in October rise sharply with awards at 1.165 billion dollars, 1H percent above 1926. ten-month total nudges to 11.37 billion, up 1 percent from 1956. Copperweld Steel and Superior Steel merge, effective Nov. 30 after state approvals. Federal Pacific Electric to acquire Roller-Smith Co. exchange 25,000 Federal shares for Roller-Smith’s 1,000 common and 2,480 preferred shares.

MENTIONED IN THIS ARTICLE

Scott Paper Co F. W. Dodge Corp Copperweld Steel Co Superior Steel Corp James M. Carbaker Copperweld Virginia Corporations Commission Andj Pennsylvania Department of State Federal Pacific Elec Federal Pacific Electric Co Roller-Smith Co Bethlehem, Pa T.M. Cole Federal Roller-Smith Associated Press Abbott L Mont Ward Motorola Alco Proda Allez Allied Allis Chal Alum Ltd Nat Tory Alcoa Nat Supply Amerada Congrés- Am Airlin NY Central Eisenhower Am Cay Sooner Am Cyan North West Am & F Pw Am Gas & el Am M&fdy Nor Pac Am Motors Nor Sta Pw Ohio Edis Ag Bath Iron Works Am N Gas Ohio Oil Olin Am Smelt Oliver Co Ashlall Atchison Philco Martin Philip “Mor Tor Vanguard Avco Mik Phill Pet Bald Lima Balt G& BE E&g Aerojet-General Balt & Oh Rendilx Pullman 3A General Tire Benguet Tees Ue Yeshee Mo- Beth Steel Boeing Air 1B Borden Agaee Raytheon Borg Warn Repub Briggs Rex Drugs International Business Machines Budd Co Bullard Butland Washington Grumman San F Schenley PN Schering Beach AL RR North New Haven Gas QM Chrysler New Haven Ag Abm American Aviation Souther Ca Boeing and Tenn Gas Va MA Douglas Transcat Gas P Coly Palm ATV Sperry Ra United Islart Qa Colao Fd& Ir Ye Spiegel Ba West Mass Co Ar Youngstown Lukens Col Gas Gulf and Royal Sara AG Cami Solv Texas du Pont Con Altsay Goodrich Good- Curtis Curliss Western Mary- Decca Rec Land del L&w Baltimore Western du Pont Maryland UN Carbide International X Fast Air Ltd UN Pac East Red el & Mus Wall Street United Cp American Telephone Erie RR Fruit Telegraph M&m Firestone US Steel Gen Dynam 2 Vanad Cp Elec Va Caro Ch Olin Mathieson Gen Motors W Penn E Borax Goodyear Wilson 4 Co Grace & Co Woolworth Worthington American Stock Exchange Greyhound Thiokol Yaust S&t Gram Alte Z Zenith Rad International Petroleum Mob &Q Humble Oil Val- Gult Oil AttMated Fund Bus Med Atomic Development Fund ABA Commonwealth Investment TAY Tel&Tel Eaton & Hard Chicago Link- Johns Man Ba Fundamental Investors Jones & L All Mey Incorporated Elt Co Kaiser AL Mass Investors Trust Kennecott Kern Ld Pioneer Fund Creas Lehigh C&ny Wellington Fund Men&l Ling & My Bay Leckh Ayre Loew's Tower Gas City ‘Trust Lorillard Mack Bankers ‘Trust Marina Mid Bank of NY Qi Martin. Co Chase-Manhal tMenuel Merck VA Merc Ci Empire Qi City Bk Mo Kan Tex Guaranty Trust NY Trust Monter Oil US Trust
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American Can and Marathon Merger Ratified

Stockholders of American Can Co and Marathon Corp approve a merger in separate meetings. American Can increases authorized common stock to 25 million and adds five directors to 20, earmarking part for Marathon purchase. Exchange ratio sets up to 2,970,810 Canco shares for Marathon stock.

MENTIONED IN THIS ARTICLE

New York American Can Co Marathon Corp Canco Marathon Rothschild Wis American Can
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Cooper Tire Declares Dividend And Stock Split

Cooper Tire and Rubber Co declares a 12 1 2 cent quarterly cash dividend and a 5 percent stock dividend payable December 31 to shareholders of record December. Sales run at all-time high with profits improving over the first half of the year, says secretary treasurer K C Frost.

MENTIONED IN THIS ARTICLE

Cleveland Cooper, Tire & Rubber Co K. C. Frost
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Market Barometer Connecticut Industries Price Watch

Connecticut market barometer reports price movements from G. H. Walkers Co. for local industries. Prices reflect shifts in basic commodities and manufacturing inputs affecting regional business conditions.

MENTIONED IN THIS ARTICLE

Connecticut Industries G. H. Walkers& Co
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Bank Stocks Steady As Market Indicates Unchanged Average

Prices from Smith, Ramsay & Co. show bank stocks holding steady with only slight, if any, movement. Market indicators hint at stable activity as averages remain unchanged.

MENTIONED IN THIS ARTICLE

Smith, Ramsay & Co Smith, Ramsay *& Co Fron Smith, Ramsay & Co Mena Drv Aetna Insurance Aetna Life Gen Life Bartford Fire National Tire
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Western Maryland Declares Initial 75 Cents on Common

Western Maryland Railway board declares an initial quarterly dividend of 75 cents on common, pay Dec 27 to record Dec 7. Preferred dividends also paid on Dec 27, with $1.75 on 7 percent first preferred, 37.5 cents on 5 percent first preferred, and $1 on second preferred.

MENTIONED IN THIS ARTICLE

Maryland Anchor Post Products, Inc First National City Bank of New York Tronite, Inc United Stores Corp National Linen Service Corp Federated Department Stores, Inc Helena Rubinstein, Inc Duroley Coz Rez al Union Twist Drill Co Bastian Blessing Co Mead Johnson & Co Phoenix Insurance Co Hartford Craig Systems Inc Bangor & Aroostook Railroad Seaboard Air Line Railroad Co Emerson Electric Mfg. Co Baltimore Western Maryland Railway Western Maryland Arthur Grotz Mr. Gr
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Andes Copper Plans New Stock Issue

Andes Copper Mining Co. to hold a special stockholders meeting on December 20 to amend the certificate of incorporation and authorize 2,500,000 shares of a new class B stock par value 35 dollars. The issue aims to exchange stock for debt incurred by the parent company in financing the El Salvador copper mine project in Chile.

MENTIONED IN THIS ARTICLE

New York Andes Copper Mining Co Anaconda Co el Salvador Asdes Chile
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Wall Street Ends Flat After Mixed Trading

Wall Street seesawed throughout the day and closed with little overall change. Stocks in steels oils and rails slipped about a point while metals and other sectors showed minor movements amid a varied session.

MENTIONED IN THIS ARTICLE

William Ferris New York
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GE Expands Missile Division Workforce in Philadelphia

General Electric raises the Missile and Ordnance Systems staff by 10 percent at its Philadelphia facility. Overtime shifts will double to support a growing Air Force missiles program. The division is under a $150 million contract to develop ICBM Atlas and IRBM Thor equipment.

MENTIONED IN THIS ARTICLE

New York Dec General Electric Co Missile and Ordnance Systems Department Philadelphia Air Force
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RCA boosting prices on classical discs

New York December 3 RCA announces price hikes for all RCA classical red seat long play records by 1 to 4.98 dollars effective February 1. Spokesman cites rising production costs and notes the rise applies only to classical LPs not pop or jazz. Columbia Records says no price increase planned for its 3.98 dollar classical LPs.

MENTIONED IN THIS ARTICLE

New York Radio Corp. of America
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Also Mentioned on This Page

Dow Jones News Service Scott Paper J Canco Cooper Tire Baldwin Pearson N Realtors State Street Edison Office Mart Ansonia Derby Newtown Redding Westport Enterprise Dow Jones Mixseer Nor Am Avia Percy Eeeeeenes SON J Terae Gen Tire Grumman Tae Oline Math Bees Sperry Rand Saeries Siverees Seeenae Texas Gulf Setereenee Stern Ener Re Eeseneraeenvenens Eee Ay Askee Arrow-Hart Hegeman Nedaae Farrel Birmingham Handy Harman Kerlle Landers Marlin Rockwell New Britain Machine North Judd Peter Paulney Safety Industries Aay Lestk Stanley Works Torrington Co T Veeder Boat Connecticut Mutual Funds Norman K Dacey & Associates Beneficial Standard Life Insurance Co California Packing Corp Central Mlinois Securities Corp Central Indiana Gas Co Federal Insurance Co Halle Brothers Co Institutional Income Fund Inc Mississippi Glass Co J. Ray McDermott & Co Inc North Penn Gas Co Plough Inc San Diego Gas & Electric Co Sangamo Electric Co Scarsdale N.Y National Bank & Trust Co Stop & Shop Inc Reg Verio Co Tri-Continental Corp International Packers’ Ltd New York Shipbuilding Corp International Shoe Co Lehigh Coal & Navigation Co Cerro DePasco Corp Andes Copper RCA Columbia Records Columbia Broadcasting System EAGLE Crescent Ave Congress St Noble Ave Central Maine CAMEO John Street Chas W. Scranton & Co Bridgeport Cameo Parking Lot Chas. W. Scranton& CO NEW York Stock Exchange Norwalk Norman,j. Gaynor Arthur ‘C
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