Detroit Steel Cuts Dividend In Half Amid Slump
Detroit Steel Corp reports 1957 net of 3,004,362 or 0.98 per share on sales of 123,353,700, down from 747,082 or 2.78 per share a year earlier. The firm declares a 12 1 2 cent quarterly dividend payable March 2 to record March 5, with 25 cents paid in prior quarters. President Max J. Zivian cites no clear stimulus for a sharp earnings upturn before Q4, noting inventory reductions as a factor.
MENTIONED IN THIS ARTICLE
Detroit
Detroit Steel Corp
Younguysid & Parmepters
Detroit Steel
Max J. Zivian
Grumman and Kennecott Dividend Declarations Reported
Grumman Aircraft ups dividend to 37 1 2 cents and Kennecott Copper Corp declares a $1.58 per share distribution with payment scheduled for March 24 to stockholders of record March 4. Both firms previously paid similar amounts in prior quarters.
MENTIONED IN THIS ARTICLE
Grumman Aircraft
Kennecott
New ‘York
Kennecott Copper Corp
Ford to idle 14,000 at River Rouge plant in Dearborn
Ford Motor Co announces layoffs totaling about 14,000 workers at its River Rouge plant with a further 4,000 to be laid off next week. The plant now employs around 32,000, as production is adjusted to inventories. Final assembly was down this week, idling about 4,000 workers. 400 Rouge glass plant workers face four to five weeks off later this month.
MENTIONED IN THIS ARTICLE
Dearborn, Mich
Ford Motor Co
River Rouge
Rouge Glass
Koppers Co forms two new divisions plastics and chemicals
Pittsburgh report states Koppers Co Inc creates two divisions to replace its former chemical division. The plastics division and the chemicals and dyestuffs division will focus growth areas, aiming to concentrate efforts and boost volume across manufacturing sectors.
MENTIONED IN THIS ARTICLE
Koppers CO
Pittsburgh
Koppers Co., Inc
Dry Geeds Co
Pew
Remer Chemical Division
Cord
Fred C. Foy
Plastics
Koppers
Mr. Foy
Burndy Net Drops for Six-Month Period
Burndy Corp of Norwalk reports six months ended Dec 3 net income of 282 968 dollars or 30 cents a share versus 612 333 dollars or 65 cents a share a year earlier. Shipments for the period total 19 722 million dollars? 11 514 178 the prior year.
MENTIONED IN THIS ARTICLE
Burndy Corp
Norwalk
Utility Earnings From Major U S Gas Firms
American Gas and Electric reports 12 month net income of 44.2 million dollars or 2.24 a share on 19.7 million shares versus 40.0 million and 2.04 on 19.1 million the prior year. Gulf States Utilities posts 14.7 million dollars or 2.25 a share on 4.52 million shares versus 11.2 million and 2.23 on 4.32 million. New York State Electric and Gas shows 11.8 million or 3.08 a share versus 11.5 million and 2.38. Michigan Gas Utilities records 1957 453,779 dollars or 3.22 on 0.45 million shares, down from 534,? thousand dollars and 1.45. One of South Africa's largest dams planned on Fish River near Mariestal, South Vent Rica.
MENTIONED IN THIS ARTICLE
American Gas & Electric ‘Co
Gulf
New York State Electric & Gas Corp
Michigan Gas Utilities Co
Motorola
Allied
Kennecott
Am Bosch
Eng
Amar
Nia
NM Pw
Dearm Gesell
WU Ay
Am M&fdy
NorthWest
jNer Bia
Am TelatTel
Olin
Associated Press
Oliver Cp -46
Pac G&el
Armcoa
Pa PwaLt
Prin Mor
Bendix
Benguet
Standard Oil
New Jersey
Zen
Pullman
Moat
Beelin Air
Aces Aee
Aly
Gary
RCA
Lorillard
North Bedd Co
Repub Av
American Aviation
Ballard
Va 1A
Burl Ind
Rex Drugs
Azn
Burroughs
Reyn
American Motors
U.S. Steel
Cin Peeta
Jane Kennecott
Dodge
Parker Rust Preef Co
Quarog
Anaconda
Reymonds Tobaccol
Ceros
Paz
Rez
Schering
Tobacco
Reynolds
Dollar Arsenal
Cy M Sprp
Seab AL RR
Sears Roeb Ib
Grumman Rose
Carisler
Shell Ol
Fey
Pacific Far East
Binclair
Ember
General Electric
Rose
Cole Pum
SM Southers Co
Sle Chara Lannua
Oso Falr
du Pont Cel Bra
Colum Gag
Sou Ry
United Aircraft
Sperry Ra
Distivers
Coston
Good Jcrane Co
Sunray
Douglas Aircraft
Curts
Oh Am
Arly Ay
American Telephone
Peat- Curtes
Switt & Co
Hota
Sylvania Railroad
Johns- Décca Rec Texan Co
Dour Aire
Textron
Thiokol
Humble Oil
Wood
Dow Chem
Tidewsl
Petroleum
Ind
Transamer
Én Pont Ae
Creole Petroleum
Dag
Kersey
Ast Air
UN Carbide
Fatrch & Pte
van Aire
Firestone
United Op
Gilette
Seyen
My Mi
Sou
Geadrich
Ory
Vanad Cp
Geedsear
Il Grace & Ca
Thy
Wilson & Co
Worthington
Hawe
SS Intendim
A.M. Kier
Bec
Harvey Hubbell
Kaiser Industries
Sealth
Ramsar & On
Korn
Dr. We Hehe Lemien
Rt Gan
Ayareulie Lis McNat
United Atrerat
Maine Pw
Lect Aire
Carl Vt Pubay
Ah Leew
Ges
Graith
Ramsay & Oy
I. Bi
Aetna Insurance
Bray Remy A
Martford
Peeriess Bane
United
U Ma Security
Travelers Am
Traesemt Gee
Market Dips in Dull Day
In New York on February 21 ED MORSE reports a dull trading day as the stock market slips modestly. Investors show little conviction amid cautious trading, with only a handful of issues moving.
MENTIONED IN THIS ARTICLE
ED Morse
New York
Market Barometer Shows Earnings Dip At Major Firms
United States Gypsum Co. and subsidiaries report 1957 net income of 38,756,752 or 4.78 a share, down from 40,613.65 or 5.01 in 1956. Net sales fall to 249,666,019 from 265,011,168. Reynolds Metal Co. posts record sales but income slips to 37,809,712 or 3.28 a share from 41,239,902 or 3.60 in 1956, with sales at 446,578,767 versus 485,206,005. A
MENTIONED IN THIS ARTICLE
United States Gypsum Co. and Subsidiaries
Reynolds Metal Co
Pennsylvania Road Notes January Loss
January losses for Pennsylvania Road are reported at 2,527,127 against a prior year net income of 307,205. The notes show revenue of 322,174 for January and a net of 98,022, down from prior figures. The report also cites Rideway and its subsidiary, Leuliens, with an eight month loss of 2,095,000 versus 1,117,000 the previous year.
MENTIONED IN THIS ARTICLE
Wabash Teed
Ty Heaters Rideway
Leuliens
Celek
Rouivnall
Earnings Roundup From 1957 Corporate Results
A survey of 1957 earnings shows Flintkete Co reporting net income of 7 046 million on 1 689 million shares, and United States Pipe & Foundry Co with 9 556 million on 109.7 million dollars of sales. First National Stores posted 2 164 million for the quarter ending December 28. Other firms include Steep Rock Iron Mines and Udylite Corp with varying per share figures. A notable rise in mail to and from abroad highlights Austria’s postal receipts.
MENTIONED IN THIS ARTICLE
Flintkete Co
United States Pipe & Foundry Co
First National Stores, Inc
Steep Rock Iron Mines Ltd
Udylite Corp
Missouri Portland Cement Co
Firth Sterling Inc
Lindsay Chemical Co
International Packers Would Acquire Armour Co Foreign Units
International Packers Ltd directors plan to buy Armour Co foreign meat packing plants in the United Kingdom Belgium Spain Germany the Philippine Islands and the Union of South Africa Delisted Uruguayan unit Arremarkis not included Prince says foreign trade has grown hard due to government policies Uruguay properties liquidating Armour will receive dividends and enable foreign assets to be marketable International Packers merger seen as beneficial for Armour and future dividends In New York Sperry Rand reports backlog up to 558 509 000 as of Jan 31 1958 with sales 148 506 000 for six months ended Dec 31 1957 and 91 cents per share versus 1 18 the prior year
MENTIONED IN THIS ARTICLE
Chicago
Dy) International Packers Ltd
International
United Kingdom
Belgium
Spain
Germany
Philippine Islands
Union of South Africa
Frigeritico Artikas
Armour Uruguayan
Armour
W.W. Prince
Ternational Packers
New York
Sperry Raed
Marre’. Wiese
R. F. Vickers
Vickers
Sperry Rand
LOCAL PRODUCE By The Cane Loot of Large Sized Eggs
Eggs advanced one cent a dozen while extra large and medium sizes held. Conn. Market Bulletin shows grade A eggs in car lots to retailers: extra large 52-57c, large 52-36c, mediums 49-53c per dozen. Conn and Maine potatoes priced up to $2 and $2.25 per 50 lbs respectively. stock of potatoes down 17 percent from a year ago. Prices for snap beans cucumbers peppers remain high. apples retain good value. Wholesale prices: Baldwin $3.25-$3.50, Delicious $0.50-$0.45 per bushel, McIntosh $2-$2.50 per bushel.
MENTIONED IN THIS ARTICLE
Conn
Conn. Dept. of Agriculture
Maine
U. S. Dept. of Agriculture
Baldwin
Delicious
McIntosh
General Contract Corp declares cash dividend amid reorganization
General Contract Company announces a cash dividend of 2 percent and 26 cent quarterly payouts replacing recent stock dividends as it proceeds with a reorganization. President Arthur A. Blomeyer cites cash conservation while the Federal Reserve orders divestment of non-banking subsidiaries and plans to spin off non-banking activities into a separate General Bankshares Corp. and a new General Contract Corp. to run financing and insurance units.
MENTIONED IN THIS ARTICLE
Eral
Arthur A. Blomeyer
General Contract
Federal Reserve Board
General ‘Contract Corp
Tthe
General Bankshares Corp
General Contract Corp
Also Mentioned on This Page
Mts
Bet
Parcraft Engineering Corp
Ford
Allied Artiste Pictures Corp
Amalgamated Co
Bleck, Sivall & Brysea, Inc
Bausch & Lomb Optical Co
Canadian Celanese Ltd
Di-Neo Chemical Arts, Inc
Weed N Machinery
Tennessee Corp
Carnation Co
Quar Sc
Shecoin National Life Insurance Co
Transee & Williams Steel Forging Corp
Acme Precision Predects, Inc
Driver Harris Co
Houston Natural Gas Corp
Tavvestment Co. of America
Lamten& Sésciens Co
Ford Meter of Canada Ltd
Mearee Ltd
Asbestos Corp Ltd
A. O. Smith Corp
Muskogee Co
Electric & Power Co
I Texas Utilities Co
3Com
Greed Rapids Varateh Corp
Continental
Texas Power Light Ce
South Africa
Fish River
Ner Mariestal
South Ventrica
Fairchester
Barney's
East Main Street
U. S
Dow Jones
Lew Canages
Peameaee Ue
Reynolds Metals
Ieeeme Raih
Ammson I Proper
Avia
Shell
East Gas & Fuy
Amer Tei Etek
I A
Pennsylvania Road
Bern
Remenr
Standard Financial Corp
Standard Factors Corp
Normal Inc
Pacific Indemnity Co
Drewrys Limited
U.S.A. Inc
A. C. Smith Corp
Embart Mfg. Co
Austria
Connecticut
Connecticut Industries
Priva
G. H. Warner & Co
Dictaphone Corp
Fafnir
Faerel Birmingham
Randy Harmant
Kertie Peete Grea
Landers
Frary Clark
Matin Rockwell
New Britain
Machias
North Judd
Peter Paul
Va m Fy
Plume Atwood
Int'l Packers
Armour Co
Ae Eee
Bullart Company
Casco
Crane Company
Harvey Hobbett En Eeae
Lacke Iteri
McKewen Robeing
Raybesten Inc Bt
Remington Arms
Underweed Corpy
Gen
Mass. Inventors Trust
Pioneer Fund
Esha Seee
TV Electronics Fund
Wellington Fund
Norman FD
Cileg Muilding
State Street
Post-Telegram
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