Senate Group to Plan Lead Zinc Stockpiling
A Senate Interior subcommittee will study a government stockpiling program for lead and zinc, with possible totals similar to a prior copper plan. Senators may finance the program via Interior Department borrowing authority. Also announced: Goodyear Aircraft won a 65 million dollar Navy Subroc anti submarine missile contract with Librascope and Kearfott as major suppliers. The stock market fell. American Motors led declines amid overall reduced volume and mixed gains among top issues.
MENTIONED IN THIS ARTICLE
Washington
Senate Interior Subcommittee
The
Interior
House
Senate Appropriations
Goodyear Aircraft Corp
Goodyear ‘Tire’ & Rubber Co
Navy
Subroc
Librascope
Glendale
Calif
Kearfott, Co
Clifton
Naval Ordnante Laboratory
Goodyear
FIRST NATIONAL SEES GOOD YEAR FOR HAY STORES
First National Stores reports a strong year with 12 month net income of 19.13 million or 3.01 a share on sales of 532.5 million up from 524.3 million. The year ending March 29 set new records for total revenue and net income of 8.799 million or 5.37 a share. Expansion continues with plans to open at least 30 new supermarkets in the current year.
MENTIONED IN THIS ARTICLE
May Department Stores Co
First National
Boston
National
Inc
Adrian O'Keeffe
O'Keeffe
Dang Corp
Guild. Films Co. Inc
Kroehler Mfg. Co
Barry Biscuit Corp
Inet
Delaware, Lackawanna & West Jetn’ Railroad
Iowa Southern’ Utilities Co
Missouri Public Service Co
RRA
Virginia Electric & Power, Co
Acquisition OKayed On Vick Chemical Purchase
Walker Laboratories stockholders approved the acquisition by Vick Chemical Co at a special meeting in Mount Vernon New York the deal takes effect July 2. Terms call for nine Vick shares for every 100 Walker class A or B shares. The move follows mixed quarterly earnings reports from multiple firms cited in the session.
MENTIONED IN THIS ARTICLE
Mount Vernon
N.Y
Walker Laboratories, Inc
Vick Chemical ‘Co
Vick Common
Walker
Steel production estimated for week at 1 685 000 tons
New York June 23 American Iron and Steel Institute reports weekly steel output at 1 685 000 tons, about 64 4-10 percent of capacity. Last week produced 4 751 000 tons or 64 9-10 percent of capacity based on 140 742 570 net tons annual capacity as of Jan 1958. Forecast for last week was 1 737 000 tons.
MENTIONED IN THIS ARTICLE
New ‘York
American Iron & Steel Institute
Institute
Bruce Co Says Control Remains With Management
Chicago June 23 The Bruce company general counsel says control is firmly lodged in management in a letter to Edward M Gilbert interests New York. Orville Taylor Bruce's counsel says Benjamin Javits failed to prove a Gilbert controlling interest at a May 28 meeting. A telegram to directors asks board to consult Gilbert interests before any action affecting the business or their controlling group.
MENTIONED IN THIS ARTICLE
Chicago
E. L. Bruce Co
Edward M. Gilbert
New York
Bruce Company
Orville Taylor
Bruce
Benjamin A. Javits
Gilbert
Taylor
Gilbert Group
Steel Prices Hover as Downturn Fears Grow
New York market notes uncertainties in steel amid a prospective summer downturn after eight weeks of rising output. Orders recede and producers expect lower operations into August as labor costs rise on July 1. U S Steel paused price action awaiting clarified competitive conditions and some fear boosts may not hold. Machine tools show May orders down again with signs of price cutting and five month bookings at 116 million, down sharply from a year earlier.
MENTIONED IN THIS ARTICLE
U.S. Steel
Big Steel
Textile mills see auto orders lift heavy cotton demand
Connecticut industries reports first rise in auto maker orders for heavy cotton fabrics in months aiding sales and curbing long- standing low price selling. Bell Aircraft president Leston Faneuf says Dyna-Soar man-carrying missile project could become a major Defense Department contract. five years before Dyna-Soar flies.
MENTIONED IN THIS ARTICLE
Bell Aircraft
Leston Faneuf
Bell Aircraft Corp
Defense Department
Bell and Martin Co
Air Force
Boeing Airplane Co
Faneuf
Bell
Dividends and Record Dates for Major Companies
List of regular quarterly dividends and payment dates for firms including Federal National Mortgage Association Firemen's Fund Insurance Kennametal Permanente Cement Falstaff Brewing and others with respective record dates and payment schedules. Some entries are partial or garbled.
MENTIONED IN THIS ARTICLE
Federal National Mortgage Association
Firemen’s Fund
S.F
Kennametal Inc
Permanente Cement Co
Mutual Funds Officials See Upturn in Next Six Months
New York June 23 Dow Jones National Securities officials expect an upturn in stock prices in the next six months with late third quarter or early fourth quarter gains. Henry J. Simonson Jr. of National Securities & Research Corp notes institutional buying and inflation as drivers, forecasts higher government spending in June, and predicts steady tax policy. He sees utilities remaining strong and railroads benefiting from rate-cut opportunities, while 1958 earnings may lag 1957 but payout ratios stay high. The firm’s seven funds hold large assets and have recently bought Telecom, United Fruit, Philip Morris, and various Telecomm stocks, with a strategy of investing new money rather than short-term debt.
MENTIONED IN THIS ARTICLE
House
Sam Rayburn
D-Tex
House Democratic
Senate
American Motors
Hupp Corp
Lorillard
U. S. Hoffman Machinery
Raytheon
Raytheon Rose
Union Oil
California
Merck
Republic Steel
U. S. Steel
Youngstown Sheet
Chrysler
Ford
General Motors
Thompson Products
American Tobacco
Johns- Manville
Montgomery Ward
Zenith
Anaconda
International Nickel
Douglas Aircraft
American Stock Exchange
U. S. Foil
Creole Petroleum
A&p
Thiokol
U. S
New York
National Securities Series
Henry J. Simonson, Jr
National Securities & Research Corp
Dow Jones Today
Simonson
Mr. Simonson
Simsonson
National Securities
National Stock Series
National Securities Group
Southern New England Telephone
United Fruit
Philip Morris
New England, Telephone & Telegraph
American Telephone &, Telegraph
Gimbel Bros
International Harvester
R. H. Macy, Montgomery Ward and
White Motor
Drastic Changes Reported In Relative Safety of 9 Leading Cigarettes
Nine cigarette brands show reduced nicotine and tar in comparison to some best selling filter tips. The Reader's Digest feature argues the cigarette industry has altered its stance and urges readers to reconsider before purchasing.
MENTIONED IN THIS ARTICLE
Reader's Digest
Fannie Mae Plans Major Offering of Debentures
The Federal National Mortgage Association will publicly offer 100 million nine month debentures on Thursday. Baughman said the issue dates July 10 and matures April 10, 1959, with debentures offered at par and a stated interest rate to be announced.
MENTIONED IN THIS ARTICLE
Washington
Federal National Mortgage Association
Fannie Mae
J. Stanley Baughman
Wall Street Journal Ad Promotes Trial Subscription
An old advertisement asserts the value of reading The Wall Street Journal for money earning and expense cutting ideas. It pitches a three month trial for $6, highlighting broad business coverage and suitability for workers and small business owners.
MENTIONED IN THIS ARTICLE
The
Wall Street Journal
America
Broad St
New York
N.Y
Also Mentioned on This Page
Wall Street
Joodyear
By ED Morse
Louis Wolfson
Vick Chemical
Norman F. Dacey & Ansclates
Becen
Atomic Development Fund
Canada General Fund
Tividend
Eaton & Hwrd Bineed Fund
Fidelity Ord . Ry
Fundamental Investors
Incorporated Investors
Masa Invatra Geth
Masa
Norman Decoy
Cileo Building
State Street
Bertram Yarborough
Pade Oda
RSS
Bex
Tif
Sys
New England Lime Company Common
Dayton Haigney & CO
Incorporated
Boston Stock Exchange
Federal Street
Liberty
E. L. Bruce
Dow Jaffes
Amer
Motors
Connecticut
Connecticut Industries
HM. Walker
Salen
Abbott
Admiral Theewee
NY Central
Allied Ch
Ché&e SL
Allie’ Chal
Nia M Pw
Alum Ltd
Nor Pac
Ayeee Ag
Amerada
Am Alrtin
Ohio
Cyan
Oliver Cp
Am & F Pw
Pac G & el
Pan
Mé& Fdy
Pfizer
Tel & Tel
Phelps Db
Phila el
Ain
Armour & Co
Atchison
Pullman
RCA
Tee
Aveo Mig
Repub
Bendix
Cere
Noyn Met
Rey Tob
Beth Bleelsone
Richard Oilda
Borg Warn
Nay
Budd Co
Av Safeway
San F
Schenley
Beach AL RR
Sears Noch Ib
Shell Oil
Sinclair
Cen & BW
Ms Southern Co
Cha Sp&pac
Sperry Md
Cal
Coca Colada
Golo F & Ir
Bwiff & Co
Frvuiu
Pittsburgh Railways Co
Texas Co. 2A
Colden Pel
Crane Ca
Tex P Clows
Ed Schuster & Co Inc
Rew Curtit Pub
Tex PL
Curtisa
Textron
Culler
Tidewat
Decca Ree
H. I. Thompson
Cal & W Deere
Western Precipitation Corp
du Pontous
United Co
Whiting Corp
Unit Frait
Eton Sorinan
East Air Lefi Ae
Aly
EL & Mus Wyeree
M & Mo
Atta Wallpaper Inc
Va Cato CH Sess
Aro Equipment Corp
Penn
Weilg
General Mills Inc
Wilton & Co
Woolworth
Worthington
Gillette
Mfg. Co
Grace & Co
Bly
Greyhound
Smith, Ramsay & Co
Gem Aire
Gust Mob
Ala Atkest Burndy Vo
Way
Actna Insurance
Eng Coi
Hayden Nept
Amer Fid Caz Pt
Dictaphone Corp
Gén Life
Emhart Athe Aby
Houst Lb & P
Hartford Fire
Fafnir
Howe
Farrel
Birmingham
Mt Cent
National Fire
Sandy Ratman
Ots Thouland
Landers Frary Clark
Marlin Rockwell
New Britain Machine
North Judd
A. M. Kidder & Co., Inc
Peter Paul OM
Johns Man 2A
Plume Aline
Jones & 2B
Safety Industries
Kaiser al
Kenticcott
Hridgeport Brass
Pearl Hrewine Ca
Torrington Coene
Kern
Bullard Company
Veeder Root
Lehigh C&n
Casco
Val RR
Uh Botany Mills Inc
LOY Glass
Crane Company
Spe
Harvey Hubbell OM
Locke Steel
Tane
Underwood Carp
Cntil Maine
United Aircrafy
Catrl Vt
Marine Mid
Atle
Bu Arken
I7y
Martin Co
Aw American Exchange Chty Trust
Merck la
Samy
A. M. Kidder & Co
Ine
Conn
Hild Gas
Bankers Trust Qi
Taat Sale Bank of NY
New Haven Wat
Jeath
Felmont Petroleum
Empire
Hamp
Monson
Harvey
Mont Ward
Hanover
Bk NY
Transeat
United Thame
Mira: Trust
United Aircraft Products
South Coast Corp
Falstaff Brewing Corp
Reg Okonite Co
National Biscuit Co
Leeds and Northrup Co
Siisonson
Smith, Ramsay
Karachi
India
Pakistan
Ae An
Chas. W. Scranton & Co
New York Stock Exchange
John St
Bridgeport
Edison
Westport
Norwalk
Enterprise
Norman J. Gaynor
New Haven
Cameo Parking
John Street
Fitch Survey
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