Stocks Hit 1958 Peak in New York Market Rise
The stock market surged to a 1958 high with the Associated Press index up 1.90 to 167.70 as rails, steels, oils, aircraft and metals led gains. The Dow closed at 455.86, while the S and P 500 rose to 43.44, amid strong volume and 122 new highs for the year.
MENTIONED IN THIS ARTICLE
New York
Senate
Associated Press
New York Stock Exchange
Standard & Poor
el Paso Natural Gas
Shell Transport
Royal Dutch
General Motors
U.S. Steel
Chadbourn Gotham
Wall Street Stocks Mixed As Firms Report Quarterly Results
The market shows mixed movement with Dow Jones averages fluctuating amid quarterly earnings from Ralston Purina, Paramount Pictures, Allied Stores and others. Investors weigh industrials, utilities and rails as prices, nets and per share figures are reported for March quarter and six month periods, with several firms posting gains and others easing.
Market Snapshot for AMERICAN EXC and Partners
A compact summary notes readings from AMERICAN EXC and related entries. Items include AMERICAN EXC from A ML Kidder & Co at 1957 dig 15 percent stake, Harvey Hubbell Kaiser Industries connections, Pantepee, United Aircraft and Technicolor values. Names and figures indicate a financial ledger style briefing.
Connecticut Industries stock dividends and payment dates
Connecticut Industries lists several companies with regular quarterly dividends and payment dates. Entries include G. He Walker & On at 35c, White Motor Co at Tic lon 36c, United States Borax at 15c, Borden Co at 6c, International Petroleum at 35c, Iron Fireman Mig. at 15c, National Starch at 25c, Washington Steel at 10c, El Paso Natural Gas at 32.5c, Parmelee Transportation at 12.5c, Marshall Field at 50c plus 25c extra, American Gas and Electric at 40c, United Industrial at 15c, and Pacific Finance at 60c. Pay and record dates shown alongside each quote.
MENTIONED IN THIS ARTICLE
Tung-Sol Electric Inc
White Motor Co
United States Borax & Chemical Corp
Borden Co
Teg
International Petroleum Co. Ltd
Iron Fireman Mig. Co
National
Washington Steel Co
el Paso Natural Gas Co
Parmelee Transportation Co
Marshall Field and Co
American Gas and Electric Co
United Industrial Corp
Pacific. Finance. Corp
Dividend Schedules For Several Corporations
Calaveras Cement Co announces a regular quarterly dividend of 2c on common stock with payment May 20 and May 23 as the record date. A B Chance Co sets 30c quarterly on common with payment June 10 and record May 23. Dorr Oliver Inc issues 15c quarterly on common with payment June 1 and record May 15. Federal Mogul Bower Bearings Inc declares a usual quarterly 1c on common with payment June 10 and record May 23. Filtrol Corp declares a regular quarterly 1c on common with payment June 14 and record May 15.
MENTIONED IN THIS ARTICLE
Calaveras Cement Co
A. B. Chance Co
Dorr-Oilver Inc
Federal-Mogul-Bower Bearings’ Inc
Filtrol Corp
Tcommon
American Chain & Cable reports lower quarter earnings
The American Chain & Cable Company posted a decline in earnings and sales for the quarter ended March 11. Net income fell to 1,042,927 from 2,110,493 a year earlier, with earnings per share at 0.91 on 1,143,249 shares. Consolidated sales stood at 27,080,022 versus 31,479,725. The board declared a regular dividend of 2.14 per share payable June 14 to June records.
MENTIONED IN THIS ARTICLE
Ie lAmerican Chain & Cable Company, Inc
Cyrug N Johns
Board of Directors
INCO Reports 1958 First Quarter Earnings Outlook
Dr. John F. Thompson announces at INCO annual meeting that first quarter 1958 earnings will be substantially below the $1.38 per share on $20.1 million for Q4 1957. Lower nickel demand and copper price dips contribute, while 1958 capital spending is projected at 60 to 70 million. Supplies exceed 1958 consumption, with 1957 earnings at 23.5 million.
MENTIONED IN THIS ARTICLE
Toronto
John F. Thompson
International Nickel Co., of Canada Ltd
Thompson
Inco
United States
American Gas and Electric to be American Electric Power Co
American Gas and Electric Co forecasts a 10 percent sales rise in 1958 and higher earnings after accounting for last year’s stock dividend. President Philip Sporn said recovery will be slow but underway, and shareholders approved changing the corporate name to American Electric Power Co. Inc., effective May 12. The parent company controls six electric utilities and has owned little gas properties for over three decades.
MENTIONED IN THIS ARTICLE
New York
American Gas & Electric Co
Philip Sporn
American Gas & Electric
American Electric Power Co., Inc
Bowser Inc. Directors Elect ten from Fort Wayne meeting
Bowser Inc. management retains control of the fuel equipment and electronics firm electing 10 of 11 directors at the annual meeting in Fort Wayne Indiana. Two directors represent Texas interests as preferred stockholders. A Penick led opposition slate was proposed but Penick was not present at the meeting.
MENTIONED IN THIS ARTICLE
Chicago
Bowser Inc
Fort Wayne
Ind
T. J. Penick
Penick & McClure Inc
Dallas
Sev
Bowser Board
Penick
Jing
Bowser ‘|Management
Texas
Ferro Corp Sees Lower year Earnings At $2.00 to $2.25
Ferro Corp executives forecast 1990 earnings between $2.00 and $2.25 a share, down from $2.38. Chairman Weaver said second and third quarters appear to bottom out with improvement hoped in the fourth quarter, aided by foreign subsidiaries. A 2 percent stock dividend will be paid June 27 to record holders.
MENTIONED IN THIS ARTICLE
Cleveland
DJ IR
Weaver
Ferro Corp
American Tobacco Reports Higher First Quarter Profit
American Tobacco Co reports first quarter net income of 12,439,000 or 1.79 a share. The year ago figure was 12,262,453 or 1.45 a share. Dollar sales declined about 7.7 million to 247,022,000 as Western Light and Telephones posted 12 month net of 1,734,558 or 2.73 a share. A 1,919 pound white shark was landed off Australia.
MENTIONED IN THIS ARTICLE
New York
American Tobacco
Long Island Lighting Co
Western Light & Telephones
Australia
Evans Products Delays Dividend Decision in Detroit
Evans Products Co. announced no action on the common stock dividend due at this time. President Edward Evans Jr. said first quarter consolidated net income totaled $182,618 or 15 cents a share, compared with $606,441 or 51 cents a share a year ago on the same basis.
MENTIONED IN THIS ARTICLE
Kennecott
Kennecott Copper
Firestone
Eastman Kodak
United Aircraft
Standard Oil
New Jersey
Youngstown Sheet & Tube
Goodyear
Air Reduction
Western Maryland
Nickel Plate
Baltimore & Ohio
Chesapeake & Ohio
Southern Railway
Lukens
Caterpillar
Boeing
General Dynamics
Lorillard
U.S. Gypsum
Phelps Dodge
Anaconda
Gulf Oil
Texas Co
Monterey Oil
Evans Products
American Tobacco
Cigarette Company
R. J. Reynolds Tobacco Company
American Stock Exchange
Detroit
Evans Products Co
Edward §. Evans,Jr
Westinghouse Off Pays Usual Dividend
Westinghouse Electric Corp reports lower first quarter earnings than 1957 but declares a regular quarterly dividend of 50 cents payable June 2 to record May 12. Q1 income was 12,903,000 or 73 cents a share on 16,946,912 shares versus 14,198,000 or 82 cents on 16,748,388 shares a year earlier, with sales falling to 449,329,000 from 475,686,000.
MENTIONED IN THIS ARTICLE
New York
Westinghouse Electric Corp
Westinghouse
Quarter Net Slumps for Cities Service and Firms
Inland Steel reports March quarter net of 7.96 million dollars or 1.40 a share on 5.71 million shares down from 14.61 million or 2.59 a share. Sales fall to 150.28 million from 203.65 million as capacity runs at 64 percent. Other companies also post declines in March quarter earnings.
MENTIONED IN THIS ARTICLE
Chicago
Inland Steel Co
Inland
Joseph L. Block
Wheeling Steel Faces First Quarter Slump Then Pickup Hopes
Wheeling Steel Corp reports sharp first quarter sales and earnings declines from 1957. Net income was 505,000 dollars, three cents a share, on 45.9 million in sales versus 4.56 million or 2.12 a share on 71.3 million in 1957. Shipments in April exceed March, with May order volume seen rising. plant capacity used at 37.7 percent.
MENTIONED IN THIS ARTICLE
Wheeling
W. Va
Arvil 10
Wheeling Steel Corp
John L. Neudoerfer
Copperweld Steel Co
Eastern Stainless Steel Corp
Sont Ay
Also Mentioned on This Page
Vice Chemical
Dow Jones
Vick Chemical Co
Ried A MO Mans
Seemonth
Immune Eetien HS Uemmes Oo
TRL
TESS
Ralston Purlna Co
Riga
Commercial Credit Co
Paramount Pictures Corp
Warner-Lambert Pharmaceuti
Chadbourn Gotham Haile Tet NM
Olin Math Chem
North American Aviation, Inc
Ltd
OH NJ
Amer Motors
el Paso Nat Gas
Getty Ol
Broadway-Hale Stores, Inc
Associates Investment Co
Spencer Chemical Co
American Potash & Chemical Corp
Atlas Power Co
Mot
Yreal Co
Ner Ava
Clark Equipment Co
Beech-Nut Life Savers, Inc
Dodge Mig. Corp
Banco Inc
Permanente Cement Co
March
Republic Aviation Corp
Ray Oo
Allied Stores Corp
Abbott L
Admiral
Ays
Houst Lb & P
Air Redue
Rowe Lnd
Alco
Atte
Nick
Vr Va
Alum Ltd
Paper
Bay
Alcoa
Erie
USA
Tel & Tel
Ya Amerada
Am Bosch Jb
Jones & Ly
Az E
Kaiser al
Baees
Lehigh
Am Gas & Bl
Mé&Fdy L
Kong
Marine Mid
Sb Mengel
Armco Sil
AB Armtur& Co
Muster Chas
Atchison
Stonian
Ffont
Wavy
Bald Lima
VY Monterollo
Balt G & B
Bont Ward
Motorplay
Bendle Av
Nat Bisc
Benguet
Beth Seel
Barden
Borg Warn
Budd Co
Bullard
NY Central Asses
Walny Ch & SL
Burl Ind
Walworth Co
Burroughs
NH & Hart
NY Shipba
Yale & Towne Mfg. Co
Nor Pac
Stanley Warner Corp
Oliver Cp
Chis Sp&pac
Pac G & el
Pan AW Alt .Bo
Chrysler
Va Az
Pw & Lt
Abs American Thread Co
Cica Cola de Ve
Coleg Palm
Colo F & U2
Pizer
Col Bra
Phelps D Ga
Abbott Laboratories
Columbas
Philco
Philip Mer
Paul Pet
E&gay
Publick
Pullman 3A
SY Cosden Pet
Crane Co
Raytheon
Mutual Funds
Curtis Pub
Repub
Curtiss Wr
Free Neeman F
Bacey & Associates
Cutler
Decca Rec
Rex
Deere
Reyn Ber
Aso
Veca
Richard Olta
Atomic Developme Ad
Rohraire
Canada General Fund
Commonwith Income Fund
Douz Aire
Niet Commonwealth Investment
Safeway Ft
Schenley
Easton & Herd
Pont
Schering
Fidentity Fund
Dug Lt
Fundamental
East Air Lab
East Air Lab Vas
Seab AL RR
Incorporated
East Kod
Scars Roeb Jb A
Byass
Invstrs
el & Mes Vores
Shell OW
Investors Trust
Yi.ag
Emer
Sinclair
Socony
Southern Cu
Piomeer Fund E Athe
Fatech
Sou Pac
Television-Electronics Fund
Fee
Mm Wellington
Food Fair
Sperry
Spiegel i
Sealy
Goodrich
Staute
Dictaphone Corp
Grace & Co
Senray
Emhart
Swht & Caga
Farrel Birmingham
Grerhound
Handy Harmanny
Grum Alic
Tenn Gas
Tex G
Landers
Heyden
Rockwell
Seeeneee
New Britain Machine
North Judd
Tex PF Cie
Peter Paul
al Tex
Plume Atwood A
Textron Aes
Ste Safety Industries
Stanley Works
Torrington Co . S
Bridgeport Brassway
Twenteen
Veeder Root
Ovary
Bullard Company A
Boy
Casco Products
Smith, Ramsay & Co
Harvey Hubbell
Locke Stow
Gait
Alre Vee
United Co
Rid
Dy City Trust
US Steel
Smith, Ramsay & Om
Bankers Trust Qi
Vanad Cp
Hild Gas Org
Org
Bank of No
Hous Pub Syc
Aetna Insurance
Penn
Joy
New Haven Gas
Aetna Lite
Chase-Manhat
West UN Tel
I: Wy
New Haven Wats
Chemical-Com
Weaty A Bk
Amer Fid Cas Pt
Empire
Wests el
Ay Ab
Fuss
City Bk
Sey
South
Hartford Fire
Guaranty Traat
Wiser
Woolworth
Tex Gen Trans
National Fire
A5u
Irving Trust
Aay
Worthington
Transent Gas
Peerless Insur
United Brum
Mits Trust
Zenich Rag
NY Trust
A. ML. Kidder & Co
Connecticut
Connecticut Industries
G. He Walker & On
A. BL Kidder & Co
Ine
Gramesy & Co
Ingo
Newnan
Turner & Seymour Manufacturing Company
Joseph Shure
New Haven
Cott
Church Street
University
Charles H. Huntley
Econo Uthlts
Commonwealth Edison Co
American Natural Gas Co
General Telephone Corp
Southwestern Public Service Co
Texas Eastern Transmission Corp
Iamerican Tobacco
Cities Service Co
International Petroleum Co., Ltd
Signal Oil & Gas Co
Sinclair Venezuelan Oil Co
Skelly Oil Co
Nland Steel
Ernst & Ernst
Baker, Goodyear & Company
Certified Public Accountants
Winsted
Frederick G. Fischer
C.p.a
West Srook & Smith
Bridgeport
Conn
Edison
THE
QNE William Street Fund, Inc
Lehman Brothers
Securities and Exchange Commission
State Street
Forest
William Street
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