Wall Street Sees Mixed Close After Three Day Rally
Wall Street's three day rise to new 1958 highs faltered with a near standoff. The Dow and S P 500 edged up or flat as oil and chemical issues led gains while rails and some industrials retreated. Investors noted strong volume and offshore funds moving into oil stocks and long term plays.
MENTIONED IN THIS ARTICLE
New York
Middle East
William Street
Motors
Associated Press
Standard & Poor
Lorillard
North American Aviation
Shell Transport and Trading
Royal Dutch
Wys
American Telephone
Babbitt
New York City
Dresser Industries Reports Sharp Drop in Quarterly Earnings
Dresser Industries Inc reports a net income of 1,832,704 dollars or 41 cents a share for the quarter ended April 30, down from 4,889,905 dollars or 1.09 a share a year earlier. Net sales fall to 55,960,000 dollars from 64,199,749 dollars. For six months ended April 30 earnings total 4,968,470 dollars or 1.11 a share vs 9,421,554 dollars or 2.10 a share last year. Sales are 114,365,493 dollars against 127,371,176 dollars. Chairman H N Mallon and President J B O Conn or say an early upturn to normal levels is anticipated.
MENTIONED IN THIS ARTICLE
New York
Dresser Industries, Inc
H. N. Mallon
J. B. O'Connor
North Tonawanda
N. Y
Buffalo Eclipse Corp
Abbott L
Goodyear
Declin- Admirat Ida
Air Reduc
Sl.Grace & Co
Greyhound
Gram Aire
Mieg
Gulf Mob
Oza
Allied Chab
Allied Strs
Allis Chal
Heyden Not
Uwie
Mum Ltd
Homestic
Alcoa
S Houst
Poe
Howe Snd
Amerada
Bosch
St . A
Am & Fpw
Tel & Tet
M&fdy
Johns Man 2A
Am Motors
NS Gas
Jones &L
Kaiser A
Kennecott
Am Smelt
Tel & Te
Bai Rasconda
Armco Sl
Ligg
Armour & Co
St Az
Lowe
Atchison
Martin
tMengel
Merck Ja
St. Bendix Av
Siu Benguet
Arty
Mayr Cha&es
Middle S
Beth Steel
Boeing
Borden
Borden Bobb 64Y Mo Pat A Jag . 3 28%, 2? Borg Warn
Monson Chub
Mont Duti
Bullard
Yar
Asfonter
Mont Ward Ga
Motorola
Burroughs
Cda
Nat Gros
NH & Hart
Ches & Oh
Smith, Ramsay & Ohm
Sp&pac Rye
Chrysler
Cir Finan
Bankers Trust
jNor Pac
Bank of N
Coca Cola
Chase-Manbatn
Colo F & Ir
Sayy Chemical-Com
Ao Empire
Columbas
Oliver Ca
Guaranty Trust
Pac
G & MI
Hanover Bk NY
Pan AW
Flying Trust
US Trust
Phelps
el? Vic
Als
Crane Co
Philco
Curtis Pub G
Mith, & Y
Curtis Wr
Aetna Insurance
Atra Aetna
Amer
Deere
Hartford Fire
Publick
RCA Ta
Dow
Saiway Aay
Raytheon
du Pont
Ray American Exchange
East Air L
Reyn Atet
Krom A. M. Kidder & Co., Inc
Bale EL & Mus
Felmont Petralecm
Harvey Hubbell
Kaiser Industri
Firestone
ES Safeway
Fe PY Wrens
Food Fair
Su San Fay
Cai
Ford
Seab AL BR
United Aircraft Products Se
Wg Rh
Sears Roeb Ip
Folsa Ib
Cay Shell OU
Gen Motors
Sinclair
Socony
Godrich
Son Cal Edis
Southern Co
Tae Fou
Sperry
Swit & Co
Texas Co
la Oy
Tex
Tex Inc Cf
Tex P
Jte
Thewat OU
AG Agn
Transarm
Contacher m
Mith, Ramsay & Co
Air Din
OAN United Co
Maine
US. Steel
Hild
Elec
Ace Varad Cp
Ya Caro Ch
Hous
New Haven
West UN Teleb
Weste
South NE
Wilton
Woolmorth
Worthington
Obey United Mlum
Sangamo Electric Declares 30 Cent Dividend
Sangamo Electric Co. in Chicago declared a 30 cent dividend on common stock payable July 1 to holders of record June 13. The firm had paid 45 cents in prior quarters and expects higher sales and earnings in the second half of 1958 with prospects for further improvement in 1959.
MENTIONED IN THIS ARTICLE
Chicago
Sangamo Electric Co
C. H. Lanphier
New York
American Zinc,’ Lead & Smelt Co
Atchison Recall Rehires 58 Workers Due to Livestock Movement
Atchison Topeka and Santa Fe Railway division HQ recalls 58 employees to handle a surge in livestock traffic. Cattle from Mexico and sheep drive a 30 percent rise in hauling vs 1957, while gains were expected to be only 10 percent.
MENTIONED IN THIS ARTICLE
Arkansas City
Kan
Atchison, Topeka & Santa Fe Railway
Mexico
Dividend Declarations From Major Companies
A list shows dividends on common shares for many firms with payment and record dates. Firms include Time Corp Locke Steel Chain Co West Penn Electric Co Starrett Co Insuranshares Certificates Eaton & Howard funds Gisholt Machine Co Maryland Casualty Co Texas Water Natural Gas Pipeline Merritt-Chapman & Scott Corning Glass Works Cuban-American Sugar Pratt & Lambert Manischewitz Indianapolis Power & Light Bangor & Aroostook Hein-Werner Marine Midland Guaranty Trust Clevite Carroon Reynolds Federated Department Stores.
MENTIONED IN THIS ARTICLE
General Time Corp
Locke Steel Chain Co
West Penn Electric Co
Starrett Co
Insuranshares Certificates Inc
Petroleum Corp of America
Eaton & Howard Stock Fund
Gisholt Machine Co
Maryland Casualty Co
Sondsome Corp
Sun Life Assurance Co
Canada
Texas Wi Natural Gasl Pipeline Co
Merritt-Chapman & Scott Corp
Corning Glass Works
Indianapolis Power & Light Co
Bangor & Aroostook Railroad
Hein-Werner Corp
Marine Midland Corp
Guaranty Trust Co
New York
Clevite Corp
Carroon & Reynolds Corp
Federated Department Stores Inc
Jones & Laughlin Resuming Partial Dividends and Cleveland Operations
Jones & Laughlin Steel Corp declares a reduced quarterly dividend of 12 12 cents on common stock payable July 3 with a record June 16. In Cleveland, a limited recall of maintenance and production workers is planned to resume partial cold strip finishing and cold rolled sheet work in June, depending on orders, after recent expansion and modernization.
MENTIONED IN THIS ARTICLE
Filtrol
Olin Mathieson
Standard Oil
New Jersey
Phillips Petroleum
Atlantic Refining
Sangamo Electric
American Zinc
Lorillard
American Tobacco
Deere Preferred
Faraday Uranium
U. S. Foil “B
O’kiep Copper
Firth Sterling
U. S
Jones & Laughlin
Cleveland
Jones & Laughlin Steel Corp
Reamnethia
Cleveland Works
May Upturn Noted by Wheeling Steel
Wheeling Steel Corp reports May shipments of steel and products at their highest since October and expects June shipments to exceed May. May production ran at 68.5 percent of capacity versus the national rate of 54 percent, according to Alexander Shearer.
MENTIONED IN THIS ARTICLE
Wheeling
W. Va
Wheeling Steel Corp
Alexander Shearer
Mansfield Tire to Expand Stock and Debenture Issues
The Federal Trade Commission found Mansfield Tire Co may not automatically merge with Brillo Mfg Co and ordered a June 20 hearing on the Brillo Williamsport deal. Mansfield plans to issue $5 million sinking fund debentures and $2.5 million convertible debentures to retire debt and fund operations, with $3.4 million long term debt outstanding and 552,504 common shares. subscriptions for the convertible debentures will be to stockholders of record June 24.
MENTIONED IN THIS ARTICLE
Federal Trade Commission
Mansfield
Mansfield Tire Co
Brillo Mfg. Co
Agenta
Pres Cy
Coma
Pany
Brillo
Williamsment
SEC
Icc
London
Ohio
A. G. Becker and Co. Inc
Also Mentioned on This Page
Wall Street
Abriraor F Lacey
Tere, Wr, Esha
Dow Jones
Hi Lew
Scoees
Lorillard Ee
Rreteeens
Nor Am Avia
Shell Transp
Beth Stee
Phillips Petrol
Buffalo
Normvan F
Daces & Associates
Bit Affiliated Fund
Atomic Development Fund
Canada General Sind
Commonwith Income Fund
Commonwealth Investment
Eaton & Hird Binch Fund
Fidetics
TRS Fundamental Investors
Incorporated Tnvestors
Mass. Invsirs Gri Steard
Mass
Investors Trust
Fiereer Fund
Television Electronics Fund
Wieles Fon Fund
Connecticut
Connecticut Industries
G. AL Walker & Co
Dictaphone Corp
Fafnir
Farrel Birmleham Wyaay
Handy Harman
Rerite
Fracy Clark
Marlin Rockwerk
Ras
Xew Britain Machine
North Judd
Peter Paul
Ve — Plume Atwood Wy Way
Stk Safety Industries
Stanley Sorks
Torrington Co
Veeder Reet
Richman Bros. Co
Cook Coffee Co
3Pc
Walter E. Heller & Co
National Eisen Service Corp
Eaton & Howard Balanced Fund
Prom
M. Kidder & Co
Beenae
Bridgeport Brass Areas
Bullard Company Thane
Casco
Crane Company
Harvey Hubbell Ceevne Sl
Locke Steel J Tebe
McKestan & Robbing
Raybesiog Inc SP
Remington Arms
Underwood Corp
United Aircraft Se
Shaw
Main ST
Bridgeport
River Street
Milford
Eley
Spert
Pigekeen
Main Street
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