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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Jan 08, 1957
Page
13
Gulf expects a 1966 net of about 28.614 million shares with an estimated 285.6 thousand dollars per share. Sales are anticipated to top 2 billion dollars for the first time, a new high. 1955 earnings were 218,064 dollars on 26,628,067 shares with sales near 1.88567 billion. The firm notes rising crude output with 1956 daily production around 950,000 barrels nationwide and Kuwait.
Sears reports 11 month sales at 3,458,844,493 up 7 3 16 percent from prior year and December 1955 sales of 44,954,571 up 4.16 percent. Woolworth posts December 139,724,996 up 12 from prior. American Stores five week sales end Dec 29 78,766,954 up 18 410 percent.
In New York the stock market opened with losses across key indices as steels oils and manufacturing shares declined. American Telephone advanced, while rails and government securities showed fractional gains, reflecting varied sector weakness and uneven early activity.
Westinghouse and Armour & Co. reported mixed earnings with 1957 results for several firms. Ralston Purina Co. declared a five for one stock split and raised common shares while noting a first quarter feed-sales record.
Esso Standard hikes crude paid in Louisiana Mississippi and Arkansas by 33 cents per barrel with about 400 600 barrels daily bought. Phillips Petroleum raises by 35 cents in all buying areas except three. Sunray Oil increases posted crude prices by 35 cents as supply shortfalls persist in Oklahoma and nearby states.
Chrysler intends to increase its production rate by about one third to meet a dealer backlog from the first quarter. The company’s assembly plants are geared to build more passenger cars, with 1956 first quarter shipments reaching about 24,333 units after a severe fourth quarter slowdown due to manufacturing problems.
Niagara Share Corp reported year end net assets of 45,806,941 dollars with a per share of 5 5 5 0 5 0 3 7 dollars on 9 2 9 0 9 0 shares. Eceme Comms Stock Fund reported assets at year end 62,386,278 dollars with 13 33 dollars per share on 4,957,163 shares. Fund Inc listed December 31 net assets 3,203,203 dollars and 156 52 dollars per share on 20,060 shares.
American Machine and Foundry Co reports a six year convertible subordinated note offer to common stockholders to raise working capital for expansion and debt reduction. Koehring Co files for 8 million shares of common stock with the SEC and plans an underwritten public sale led by Loewi & Co Inc. proceeds earmarked for debt repayment and growth.
Akron Canton Youngstown B A announces January 25 cent extra on common, record January 10. Arkansas Louisiana Gas and others set usual quarterly dividends with March and February pay dates and January records. Lenston Industries issues stock dividend 5 percent and payout February 11, with prior year note. Permanente Cement, Cement Corp, Tire and Rubber and National Air Phones list quarterly or regular dividends with specific pay and record dates.
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