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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Nov 26, 1957
Page
20
BF Goodrich officials forecast industry auto sales around 6,100,000 this year and 6,200,000 for 1958. General Motors had earlier estimated 6,000,000 for next year. Tire replacement sales should total about 59,000,000 in 1958 as buyers renew aging tires.
Oils and rails sparked a late stock market upturn with oils leading gains near four points and rails maintaining modest advances. After an initial dip the market firmed as oils and rails rallied and overall indices turned positive, with a mix of advancers and decliners in the period.
The Martin Co declares four quarterly dividends of 40 cents on common stock payable December 27 to holders of record December 3. A year earlier a per share dividend was paid in January 1957. A spokesman cited cautious times as reason to skip a stock dividend this year.
The document references a company declaring cash of 22 12 cents on class A stock and 25 cent stock with five cents quarterly intervals, plus a September payment or note. It mentions Mawes and Mata but details are unclear.
Ottawa Finance Minister Donald Flemin unveiled a new short term government of Canada bond issue totaling 250 million dollars for cash and 400 million for conversion of existing bonds. Cash 3 percent bonds due Oct 1 1959 priced 98 60 a hundred. conversion bonds 3 percent due Dec 16 1960 priced 97 60 a hundred. Conversion values set for 2 percent bonds due May 1 at 88 70 and 3 percent bonds due Dec 16 at 100 18. Proceeds refund 250 million of 2 1/4 bonds due Dec 16. New bonds offered through dealers and banks immediately.
Multiple companies list quarterly or extra dividends on common and preferred shares with payment and record dates. Names include Campbell Soup Co , Metal & Thermit Corp , A O Smith Corp , Waldorf System Inc , Ex Cell Corp , DeVilbiss Co , Garrett Corp , Temco Aircraft Corp , Armstrong Rubber Co , Mohine Manufacturing, Indian and Michigan Electric Co, Harvey Hubbell The, Joseph Dixon Crucible Co, Woodward & Lothrop, Inc, Fibreboard Paper Products Corp, F & Myers & Bro Co, Virginia Carolina Chemical Co, W F Hall Printing Co, Standard Railway Equipment Mfg Co, North American Aviation, Burgess Battery Co, Central Maine Power Co, Colorado Interstate Gas Co, American Express Co. Records and rates vary between cash quarters and stock dividends, with several payments in December and January.
A torrent of quarterly and stock dividends is announced by numerous firms. National Screw and Manufacturing, Electronic Associates, Life Railway, Rich’s, U S Truck Lines, Warner Co Construction Materials, Armstrong Cork, Detroit Stamping, Pittsburgh Consolidation Coal, Standard Products, Union Stock Yards Omaha, Simmons-Boardman, Associated Electrical Industries, Four Wheel Drive Auto, Helene Curtis, Andiana Gas and Water, Kansas Power and Light, Meyer Blanke, Pacific Telephone, Peninsular Metal, Piedmont Natural Gas, Purex, Peer Carbon, Sprague Electric, Thomas Industries, Vita Food, Whitehall Cement, detailing cash or stock yields with payment and record dates for December and January.
A reader recalls earning $100 weekly and dreaming of $10 000 yearly then boosts with rising prices and taxes. He credits The Wall Street Journal as a life preserver guiding advancement, protecting interests, and boosting income. The Journal markets itself as a premier business daily with broad staff and four big-press associations, offering trial subscriptions.
New York reports the steel operating rate for the week at 73.6 percent of capacity, estimating production at 1,884,000 tons. Last week’s rate was 76.1 percent with 1,945,000 tons produced, and an earlier forecast had called for 76.8 percent and 1,965,000 tons.
Hiram Walker-Gooderham & Worts Ltd and subsidiaries report net income of 22.48 million or 7.84 a share for year ended Aug 31, up from 21.08 million or 7.30. Net sales rise to 396.18 million from 370.93. President Howard R Walton notes U S legible consumption of distilled beverages up 5 percent to 216.298 million gallons. whisky varieties gain in the U S market. Wholly owned subsidiaries in U S Canada and Great Britain are included. Argentina unit is excluded due to exchange controls.
Whirlpool Corp posts nine month net income of 10.41 million and sales of 323.71 million, versus prior year figures. Royal McBee reports October quarter net of 930 thousand, Woodward & Lathrop shows 52 weeks to Nov 2 at 2.05 million, and other firms list varied nine month or quarterly results.
Ford Motor Co of Canada announced layoffs affecting about 17 percent of its 14,300 employees. Some 1,400 will be cut at the Oakville plant and slightly more than 1,000 at Windsor in the same week.
Regular Shell dividend: Shell Oil Co. declares a quarterly payout of 50 cents per share on common stock. Payment date set to December 36 for holders of record as of December.
Bridgeport Brass Co declares a regular quarterly dividend of 62 cents on common stock payable December 31 to holders of record September 16.
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