Stock Market Declines on Lightest Volume Since August
New York shares fell on Monday as trading slowed to 6.71 million shares, the lightest since August. The Dow rose 1.22 to 827.27 as 12 of 30 components advanced. 13 declined, 5 unchanged. Broader indexes fell, with 716 issues down and 506 up. new highs were 15 and new lows 168 for the year.
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Allied Stores and peers post higher year profits and sales
Allied Stores Corp reports year ended Jan 1 net income of 24.759 million or 3.2 per share with sales of 1.084 billion, up from 22.707 million and 1.024 billion. Hart Schaffner & Marx, J. J. Newberry Co., Jim Walter Corp and others show varied profits and sales increases across retail and related firms.
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NEW York
Allied Stores Corp
Hart Schaffner & Marx
J. J. Newberry Co
Jim Walter Corp
Ozite Corp
Clany Corp
Cognitranics Corp
United Aircraft Products
Puchler Corp
Leeds & Northrup Co
Citroen Near Merger With German Car Firm
French automaker S. A. Andre Citroen and NSU Motorenwerke AG of Neckarsulm are in talks on a possible merger. Informants say NSU would raise capital to about 16 million and Citroen could gain over 25 percent, potentially becoming NSU’s largest single shareholder. Negotiations aimed to present plans at NSU’s July annual meeting.
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Frankfurt
S. A. Andre Citen
NSU Motorenwerke AG
Neckarsulm
NSU
Citroen
London Stock Index Hits New High While Up
The Financial Times daily index of 40 London industrial stocks rose to a 1968 high of 434.31, up 11.5. The broader 500 London stock average stood at 145.37, a 3968 high, rising 2.86.
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US Trust Vises i