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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Jan 01, 1957
Page
13
Detroit car buyers face rising optional costs as heaters air conditioning fuel injection and power features add hundreds to thousands of dollars. Manufacturers cut sticker prices on some options while raising base prices, but overall car cost includes all components in the listed price.
Admiral Corp reports 1956 sales about 30 percent below 1955 with earnings unclear yet though executives note declines from 1955. Nine months 1958 show 76 cents a share on 134.2 million in sales versus 1.43 on 146.7 million in 1955.
Bath Packing Co. posts a record net income of 3,628,629 dollars for the year ending Oct. 27, equating to 42 dollars per share, up from 2,637,300 dollars or 2.53 per share the prior year. Other firms show varied quarterly and yearly results, including Wessom Oil and Snowdrift Co. Inc., Wentworth Mig. Co. and Sherman Products, with gains, losses, and per share changes detailed.
Dividend details for Wrown-MccLaren Mig and United Wallpaper Inc. show pays on February and January dates with record dates in January and December. Century Food Markets declares stock dividends and prior split history. Portland Gas Light Co. pays 25 cents on common with a January 15 payment date and December 31 record.
London stocks closed firm on forecasts the Suez Canal may reopen to shipping in March. Government bonds and oil issues led gains, with noon trades up to a dollar and more and late profit taking leaving some industrials modestly lower. Bond activity rose on strong investment demand.
Crucible Steel Co reports 1936 earnings near 3,132,096, or 7.21 a share based on 1935 shares. Sales in 1936 projected over 250 million, beating 238 million record in 1955. Company expects 1957 to remain strong with high demand through mid year and notes enlarged facilities to start production in 1957.
New York stocks closed 1955 with a strong late surge on heavy volume the highest since February. The Associated Press average rose 80 cents to 181.50 as rails and oils led while motors and aircraft lagged. Strong gains came from Lukens Steel Bethlehem Steel and Gulf Oil with renewed buying tied to year end reinvestment and hoped 1957 profits.
Bethlehem Steel Co announces a contract with Orion Shipping and Trading for three 65 000 deadweight ton tankers at about 55 million dollars. Each ship will be 838 feet long 115 feet beam and 42 feet loaded draft, to be built at the Quincy Massachusetts yard for delivery in 1960.
Louisville and Nashville Railroad reports 11 month net income of 22,836,269 or 9.76 a share, versus 25 619,254 or 5.92 for 1955. President John E. Tilford says 1956 net may reach about 25,060,000, with gross revenue rising due to wage, material, fuel costs and higher taxes.
Public notice announces hearings by the Bridgeport Zoning Board of Appeals on multiple petitions affecting properties in residence and business zones. Items include requests for variances, enlargements, and new or expanded uses at locations such as 13 1956 Madison Ave and 157 Main St.
Commerce Department forecasters predict a generally high level of production and sales in the first half of 1957. They warn slowdowns may arise in some lines due to material shortages, notably steel plate and structural and tubular goods.
The United States reaches a foreign currency sales agreement with Brazil worth 138.7 million dollars. The pact covers wheat flour and other commodities with delivery over three years, notably including 14.5 million bushels of wheat in the first year. The deal is the second largest under the program, following India's wheat purchase.
Syracuse New York December 31 Smith Corona sees higher sales and earnings in the first half of the new fiscal year Edwyn L Smith president reports six months ended December 31 1985 sales 19284000 profit 866357 Klein Schmid Klein acquisition August boosted results Backlog includes government telecom orders integration progressing
Budd Co states it will diversify to broaden its activity base and reduce income dependence. President Edward G. Budd Sr says growth will come from financing and managing selected diversification rather than buying sales volume. Budd hints 1956 earnings may improve. nine months show $7.50 million income on $31.3 million sales and full 1955 earnings of $13.79 million on $16.57 million? sales.
New York December 31 DJ Steel production this week is set to reach 2 508 000 tons per American Iron and Steel Institute. This is higher than last week but below the December 17 record. Operating rate near 8 percent of 1957 capacity and about 4 316 percent of 128 363 990 net tons for 1956. Clarence F Wentworth, Zoning Commission chair, comments on changes. Notice Requimican Association meeting set for January 6 1957 at Wilcoxson School at 8 p m to discuss site, votes, and related business.
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