Wall Street Mixed as Aluminums Lead Decline
Wall Street closed with a mixed and sluggish tone as aluminum price cuts weighed on the market. The Associated Press average rose 20 cents to 3162.70, with volume at 1.93 million shares. Beekman Instruments led activity, while Aluminum Ltd and Reynolds Metals faced declines amid price cuts. Trading resumed in Alleghany Corp. 6 percent preferred after a 1955 injunction was vacated, closing weakly.
MENTIONED IN THIS ARTICLE
New York
Associated Press
Beckman Instruments
Olin Mathieson
Aluminum Ltd
Safeway Stores
Alleghany Corp
Beekman
Olint Mathieson
Morgantown
W. Va
Aluminium Ltd
Alcoa
U. S
Reynolds Metals
Alleghany
American Stock Exchange
Diners’ Club
Create Petroleum
Thiokol
Scurry Rainbow Oil
Anacon
Steel Plans to Close Clairton Works Temporarily
U S Steel will idle Clairton works starting next week due to low orders. The plant will shut down four of 32 operations and the 40 inch blooming mill beginning April 5, with finishing mills continuing. Officials said furnaces may stay idle at least four weeks, affecting 400 to 500 workers per union estimates.
MENTIONED IN THIS ARTICLE
Pittsburgh
Marchae
Clairton Works
U.S. Steel Corp
U.S. Steel
Clairton
Afl-Cio
Uniwd Steelworkers of America
Schenley hikes six month net and plans Park tilford merger
Schenley Industries reports six month net income of 8.745 million dollars ended February 28, or 1.86 dollars a share, up from 7.193 million and 1.53 a share a year earlier. The period includes 1.391 million dollars or 29 cents per share from Bark & Tilford Distillers Corp. Schenley directors vote to merge Park & Tilford into the parent company and offer to buy the remaining P and T stock at 43 dollars a share. Schenley had acquired about 70 percent of P and T since 1954.
MENTIONED IN THIS ARTICLE
New York
Schenley Industries, Inc
Bark & Tilford Distiers Corp
David A. Schulte
Schulte Fawwarte
Sperry Rand Wins $63 Million Missile Contract Awards
The Navy awarded Sperry Gyroscope Co division of Sperry Rand Corp three contracts totaling 63 million dollars for major components of the Talos and Terrier guided missiles.
MENTIONED IN THIS ARTICLE
Navy
Sperry Gyroscope Co
Sperry Rand Corp
Permanent Position For a Man Age 25 45
Job notice seeking a permanent position for a man aged 25 to 45. Mentions a liberal contract with advancement prospects and confidential consideration. Indicates an appointment will be arranged after a persontent conference with a contact address in Stratford, Connecticut.
MENTIONED IN THIS ARTICLE
Albernate
P.O
Stratford
Conn
Copperweld announces Alumo weld aluminum covered steel rod
Copperweld Steel Co introduces Alumo weld a aluminum covered steel rod that can be redrawn into wire and may become a key item for the wire and cable division production expected to start in April a company spokesman said. Fannie Mae begins cashing in on mortgage portfolio selling 20 million since February with 70 million in contracts. lower mortgage rates boost demand. Cigarette consumption hits new high 442.4 billion with strong filter tips offsetting non filter declines per Agriculture Department data.
MENTIONED IN THIS ARTICLE
Copperweld Steel Co
Alumoweld
Alamoweld
Copperweld
Fannie May
Federal National Mortgage Association
Fannie Mae
Agriculture Department
Multiple Companies Announce Interim Quarter Dividends
A list of 14 firms declares regular quarterly dividends on common shares with payment and record dates. ECKO Products Baldwin Rubber Empire Millwork Hartford Electric Light Dodge Mfg Eastern Industries Fiduciary Mutual Investing Illinois Brick Minols Power Partias Fund Stauffer Chemical Wheeling & Lake Erie Sargent & Co Stubaitz Greene Whiting Fenestra DIVIDENDS shown with per share amounts and record dates.
MENTIONED IN THIS ARTICLE
Ecko Products Co
Baldwin Rubber Co
Empire Millwork Corp
Hartford Electric Light Co
Dodge Mfg. Corp
Eastern Industries
Fiduciary Mutual Investing Co
Hlinois Brick Co
Minols Power Co
Partias Fund Inc
Stauffer Chemical Co
Wheeling & Lake Erie Railway Co
Steel Output Slated Lower at Youngstown
Youngstown district steel production set to fall two points to 45 to 46 percent capacity next week. Youngstown Sheet & Tube Co plans to close the Brier Hill Works Friday through Sunday and suspend finishing operations for the three days. Good Friday is an industry paid holiday, with occasional suspensions previously only on Christmas and the Fourth of July.
MENTIONED IN THIS ARTICLE
Youngstown
Youngstown Sheet & Tube Co
Brier Hill
Distillers Corp Reports Six Month Earnings Decline
New York March 28 Distillers Corp Seagrams Ltd reported six month net income ended Jan 31 of 17.763 million dollars, down from 20.609 million a year earlier. The report includes first time interim earnings of subsidiaries in Canada and the United States not wholly owned.
MENTIONED IN THIS ARTICLE
New York
Distillers Corp
Seagrams Ltd
United States
Canada
Sterling Drug Sets New Highs Across 1957 Results
Sterling Drug Inc reports record income of 18.8 million and sales near 199 million for 1957, with earnings per share of 2.38 and a drop in net income for Chile Copper to 18 thousand from 47 million the prior year. Eastern Air Lines shows revenue gains but earnings fall to 9.38 million on 2.92 million shares. Other firms cited include Twentieth Century Fox, Western Massachusetts Ca II, South Penn Oil, and Interstate Oil Pipe Line with various 1957 and prior year figures.
MENTIONED IN THIS ARTICLE
Sterling Drug, Inc
Chile Copper Co
Eastern Air Lines, Inc
Twentieth Century-Fox Film Corp
Western
Massachusetts
South Penn Oil Co
Interstate Oi
Pipe Line Co
Beech-Nut Faces $55 Million Damages Suit Over Baby Foods
A federal district countersuit seeks 55 million dollars in trebled damages against Beech-Nut by Gerber Products Co. alleging unlawful sales tactics in baby food. Gerber claims Beech-Nut bought California retailers’ Gerber stock and sought special promotions payments.
MENTIONED IN THIS ARTICLE
ReechNut Lite Savers
Tne
Corber Products Co
Gerber
Beech-Nut
California
Gerber Baby
Beech-Nut Baby Foods
Insurance Stocks and 1957 Earnings Highlights
A rounded list of 1957 net results and per share figures for multiple firms including Green Cananea Copper Co Chesebrough Ponds AMP Incorporated Fifth Avenue Coach Lines Andes Copper Mining Colonial Sand & Stone Warren Brothers White Sewing Machine Henry Holt American Seal Kap Lithum Corp Hupp Consolidated Copper Mines Lamson. Each entry compares 1957 net and per share data against prior periods or alternatives.
MENTIONED IN THIS ARTICLE
Green Cananea Copper Co
Chesebrough-Pond’s Inc
AMP Incorporated
Fifth Avenue Coach Lines Inc
Andes Copper Mining Co
Colonial Sand & Stone Co., Inc
Warren Brothers Co
White Sewing Machine Corp
Henry Holt & Co., Inc
American Seal-Kap Corp
Delaware
Lithum Corp. of America Inc
Hupp Corp
Consolidated Coppermines Corp
Lamson Corp
Revlon plans new product series this year in cosmetics
New York March 28 Revlon Inc plans a series of new cosmetic products this year including a hair spray shampoo a women s roll on deodorant and Thin Down its first reducing aid Chief executive Charles Revson said in the annual report 1957 net sales rose to 95174546 from 85767651 and net income to 8999347 or 437 a share from 8975502 or 314 in 1956
MENTIONED IN THIS ARTICLE
New York
Revlon Inc
Charles Revson
Rev. A Son
Imperial Chemical to Pay 12 Percent 1957 Final Dividend
Imperial Chemical Industries Ltd in London declares a final dividend for 1957 of 12 percent on ordinary stock, paid May 31, with a proposed bonus stock issue of one new fully paid share for every two shares. The plan would capitalize 72,177,205 pounds of reserves for the issue, subject to shareholder approval at a May meeting.
MENTIONED IN THIS ARTICLE
London
Imperial Chemical Industries Ltd
Union Electric to issue 30 million common stock in late 1958 or 1959
Union Electric Co plans to market about 30 million dollars of common stock in the latter part of 1958 or the first quarter of 1959. At the April 21 annual meeting stockholders will vote to increase authorized common stock from 10.5 million to 12 million shares. The company also plans 38.75 million dollars in construction spending this year.
MENTIONED IN THIS ARTICLE
ST. Louis
Union Electric Co
Alleghany Issue Returns to Trading Restored
The Exchange announces Alleghany issue back in trading with regular way contracts settled on April 2 for all deals. When issued contracts in the issue will also settle April 2. Contracts dated March 28 or later proceed as regular way unless specified.
MENTIONED IN THIS ARTICLE
Alleghany
Uniform
The
National Association of Securities Dealers, Inc
Copper price hike by Belgian producer in Brussels
Brussels March 23 Union Miniere du Haut Katanga raised copper prices to 25 Belgian francs per kilo 22 68 100 cents and per pound in New York and Antwerp marking the second weekly increase. The move lifts the price by about 14 of a cent from March 25 level and by roughly 12 of a cent from the previous week.
MENTIONED IN THIS ARTICLE
Brussels
Union Miniere du Haut
Bristol Laboratories tests antibiotic Kalein in trials
New York March 28 Bristol Laboratories division of Bristol Myers Co reports Kalein has been used successfully on an experimental basis to treat patients with resistant bacterial strains. The drug is not yet on the market.
MENTIONED IN THIS ARTICLE
New York
Bristol Laboratories
Bristol Myers Co
Lykes Brothers Plans First Public Stock Issue
Lykes Brothers Steamship Co announces plans for its first public stock issue filing with the SEC to cover 400000 shares. TY. Lykes says 300000 shares will be sold by the company and 100000 by three unnamed stockholders. Underwritten by Morgan Stanley group, aims for NYSE listing. Proceeds to general funds for corporate use.
MENTIONED IN THIS ARTICLE
New York
Lykes Brothers Steamship Co.) Inc
TY. T. Lykes
SEC
Steamship Line
Sykes Brothers
Morgan Stanley & Co
New York Stock Exchange
Utilities Earnings Reported by Several Power Firms
Utilities earnings for the 12 to 42 month periods end Feb or year show mixed results. Consumers Power Co posted 32.77 million net or 3.30 a share on 8.79 million shares versus prior year. Texas Utilities Co reported 31.55 million net or 2.51 a share. LewalaiKeeis Gas & Electric and Lewah Electric Light & Power posted gains and year earlier comparisons. Mediasa Gas & Water Co reported 2.15 million net or 1.41 a share versus 2.25 million or 1.48 a share.
MENTIONED IN THIS ARTICLE
Aboo L
Mont Ward
Motorola
Alleg Pt
Allez Lud
Nat Gish
Allied
Allied Sky
Ry “Alum Ltd
Aleoa
Airlin
Boscn
Paria
Nor Pac
Lara &F Pw
Nor Fia Pw
Geshe
Ohio Edis
Jae M&fdy
Ohio
Far Motors Tha Oll
Lam x Gas
Kad
Oliver Co
A Tree
Pac G&el
Srivert
Pei&Tel
Pfizer
Armea Si
Phelps D Ga
Mt Armour & Co Ff
Yang
Phila el
Philee Tae
Philip Mor
Atchison
N Tay
Proct & G
E&g
Aveo Mfg
Artes
Kald Lima
Ind
iBalt G&r
Pullman
Bait & Oh
Bendix
Rastheon
Renguet
Reyn
Schenley
Sears Roeb Ib
Shell
Cert Leen
Sinclair
Johes & OF
Shygar
Sp&pac
Say
Chrysler
Sob Pac
Sperry
de Columbas
Sotv
Sunray
ATA
Swin & Co
Colden Pet
Crane Co Vin
Texas Co
Ar Ag
Curtis
Cutler Hoga. Ory
Necca Rec
al Ag
Seag
Ea Tidewat
Yan
Transamer
Atina Insurance
Doug Aire
Dow Chem
Hartford Fire
el & Muson
United Cp
Erie
Sia
Travelers GN
Fayeh
Firestone
Ford Mat
AL Mo Kidder & Cu
Lynam
Ameen Crain A
Flee
Vanad Cp
Amercian Clan
Connecticut Industries
Witton & Oe
Rey Matvey Peri Steascoirted Spring
Woolkarth
Presq Nermag
Becera Aveoraies
Grave & Co
Worthington
Bohra
Zenith Radja
Cate Farre
Birmingham
Hanay
Narnon
Gary
Meyden
Tasideng
Ae & Tomestk
Fidelity Bund i
Pundamertat Intuture American Exchange i
Fers
Beatsdark
Howe
Matin Reokwell
Invenors
Britain
Irs Eaters
al Asmnin
Paper
Torngton Co
Telaetel
Hannas & Ors
Power Co
Texas Utilities Co
lewaliKeeis Gas & Electric Co
Lewa Electric Light & Power Co
Stepan Chemical Stock Offer Subscribed and Closed
White, Weld & Co. announced in New York on March 28 that Stepan Chemical Co's 203,000 share registered secondary offering was oversubscribed and the books are closed. Shares were priced at 16 dollars.
MENTIONED IN THIS ARTICLE
New York
White, Weld & Co
Stepan Chemical Co
Also Mentioned on This Page
Wall Street
By ED Morsf
Steel
Sperry Rand
Lewsniied
Gace “Y ‘Mendes
Caco Bete Ie
Sargent & Co
Stubaitz Greene Corp
Whiting Corp
Fenestra, Inc
Sterling Drug
Smith
Ramsey & Co
Revlon
Connecticut
Tom Smth
Pamay & Cor
Imperial Chemical
Union Electric
Dow Jones
MOM
Ste Delete Ang
Ats
New York Stock Exchanges
Alleghance Chase
Seneee OH
Federal
Beckman
Olin
ASA
Transamerica Weeny
Bristol Myers
Lykes Bros
Stepan Chemical Stock
City Lumber’s
Mitre
Woodruff
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