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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Feb 01, 1958
Page
9
Armco Steel Corp in Cleveland reports 1957 net income of 55.0 million dollars or 4.59 per share on 11.99 million shares, down from 65.39 million or 6.03 per share on 10.18 million shares in 1956. Net sales set a record at 716.7 million vs 763.8 million prior.
Thatcher Glass Mfg Co declares a quarterly dividend of 35 cents per share payable March 15 to stockholders of record February 28. This follows a 30 cent payout in prior quarters. In other news International Business Machines Corp shifts 20 000 hourly employees to a salary basis effective tomorrow, under Thomas J. Watson's plan to unify domestic pay.
A compendium of declared quarters and semi annual dividends with payment dates and record dates for firms including Bayuk Cigars Inc Peoples Drug Stores Inc Monarch Life Insurance Co A B Chance Co Hobart Mig Co American Steel Foundries Acina Standard Engineering Munsingwear Trunz Durham Hosiery Mills Bankers Shippers Insurance Bates Mig Bishop Oil Calaveras Cement and others with last year’s similar payment noted for Bates Mig Co.
Standard Oil Co of California declares a usual quarterly dividend of 50 cents on common stock payable March 10 to holders of record February 10.
A data style notice lists closing prices and upcoming distributions for multiple mutual funds and securities. Entries include Rid Apked Affiliated Fund Alomc Develop Fund Canada Gen Fund Craw'hh Income Fund Eaton & Vow Bat. Fund Commercial Credit Co. Reg. Fund and more with record and payment dates in February and March.
Signal Oil Gas Co in Los Angeles declared a quarterly dividend of 20 cents on class A and B stock, payable March 10. Record date is February 7. Previous quarters paid 15 cents. An extra 10 cents and a 5 percent stock dividend have been paid in December in recent years.
New York January 31 AP The stock market closed a listless session with uneven gains and losses. The AP average of 60 stocks rose slightly to 162.50 while utilities dipped. volume totaled about 2.09 million shares. New highs for 1957 58 numbered 16 with five new lows.
New York stocks showed mixed moves as Phelps Dodge and In ternational Nickel rose while Consolidated Copper Mines sold Nevada properties to Kennécott. Polaroid and Bullard gained on rumors of buyer interest. Bath Iron Works jumped on news of a 34 million contract for two guided missile destroyers. Major names like U S Steel, GM, Chrysler, Goodyear, Westinghouse edged lower or held. Imperial Oil and Todd Shipyards advanced. Tri-Continental Warrants and Diner's Club fell. Bond markets were irregular amid light volume.
The Pennsy will cut about four percent of trains on New York Philadelphia Washington routes effective Feb 18, with further reductions on Pittsburgh routes. Philadelphia officials protested to ICC and PUC, noting expected weekend cutbacks amid a 16 percent drop in patronage.
Store sales in the United States last week fell three percent from the year earlier. Only New York Philadelphia and Minneapolis districts posted gains while Chicago area dropped seven percent and Dallas registered a one percent decline.
Inland Lighting Co shows net figures for 1957 and 1958 with per share results across common and preferred stock. The report includes other utilities data and a Cleveland market note on steel and iron ore demand, inventories, and consumption trends in 1957 amid price shifts and production changes.
Arthur Jenner of 391 Grovers Avenue was reelected yesterday to a tenth one year term as chairman of the zoning commission. The commission met in City Hall naming Erwin J. Parish as vice chairman and Henry L. Rowland as secretary. Jenner has served since 1948.
Broad Street Investing Corp reports year end net assets of 94.805 million or 19.69 per share on 4.614 million shares versus 94.518 million or 21.85 per share on 4.324 million shares. Axe-Houghton Stock Fund reports assets of 6.281 million or 3.28 per share on 1.915 million shares versus 7.142 million or 3.69 per share on 1.936 million shares. Centralbiltitles Securities Corp reports 12.060 million or 11.07 per common share on 791 thousand shares versus 15.945 million or 15.20 per share on 837 thousand shares. American Research & Development Corp reports assets of 9.827 million or 33.30 a share versus 10.811 million or 36.65 a share.
In a 5-4 decision the US Court of Appeals affirmed attorney Harry Sacher's contempt of Congress conviction from 1956. The ruling upholds a six month jail term and $1000 fine imposed by Judge Alexander Holtzoff, noting Sacher refused to disclose if he was a communist. Sacher, a New Yorker, defended 11 top Communist leaders in New York.
Union Carbide reports 1957 net income of 133.74 million and record net sales of 1.395 billion. Crown Zellerbach posts 53.051 million in 1957 net, with sales at 460.609 million. Other firms listed include Lilly, Hercules, Continental Baking, Sunshine Biscuits, MacBoanell Alttratt, Reithhold, Gladding Wichens, National Starch, American Steel Foundries, Chicago Daily News, Hagan Chemicals, Oliver, Rance, Shamrock Oil and Gas, Bayuk Cigars, Allied Kid Co, noting various year earnings and per share figures.
Keystone Steel and Wire Co reports a six month net income of 2 342 059 dollars or 1 25 a share ending December 31 down from 3 549 455 dollars or 1 89 a share in 1956. Sales fall to 43 273 992 dollars from 50 499 723 dollars. December quarter net is 1 198 804 dollars or 64 cents a share on 22 543 857 dollars in sales versus 3 821 740 dollars or 7 cents a share on 26 314 493 dollars in 1956.
Retired judge Nathan Cayton was named chairman of a three member board to monitor James R Hoffa activities as Teamsters president. Godfrey P Schmidt and L N D Nat Wells complete the panel in a compromise settlement of a lawsuit over Hoffa's presidency.
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