AT&T Plans Second Atlantic Cable Linking North America and Europe
AT&T announces a new undersea transatlantic cable system with joint ownership by AT&T, France, and Germany agencies. The 36‑circuit line will connect Newfoundland to Brittany, cost about 40 million dollars, start now, and finish in 1959.
MENTIONED IN THIS ARTICLE
New York
American Telephone and Telegraph Company Today
North America
Europe
At&t
Ministry of Posts, Telegraph and Telephones
Federal Ministry of Posts and Telecommunications
Atlantic
Newfoundland
Brittany Peninsula
France
Germany
European
Clarenville
Oban
Scotland
United States
Sydney Mines
Nova Scotia
Cabot Strait
Penmarch
Gulf States Utilities Bonds Awarded to Halsey, Stewart
Halsey, Stewart & Co. won the bid for 17 million dollars of Gulf States Utilities first mortgage bonds due 1987. The issue priced at 100.619 for a 4 percent coupon and will be re-offered at 101.50 to yield 4 percent.
MENTIONED IN THIS ARTICLE
New York
Halsey, Stewart & Co., Inc
Gulf States
First
Halsey, Stewart and Associates
White Motor plans furloughs as orders drop in Cleveland
White Motor Co to cut back No 1 line production to eight units daily from 356, furlough 27 to 300 workers in Cleveland. Tilt-Cab line not affected. Diesel Engine division in Springfield to stay at peak operations with backlog, and overall industry sales down about 15 percent from 1956.
MENTIONED IN THIS ARTICLE
Cleveland
White Motor Company
Jones
Tooseph Novak
United Auto Workers
White Motor
Springfield
Con Edison Lines Up $100 Million Bank Credit
Stock market drifted lower amid firmer energy and industrial notes. Con Edison of New York announced a $100 million bank credit while Bartlesville Oklahoma's Phil lips Petroleum disclosed a new NGL processing unit near Borger Texas with completion planned in early 1958.
MENTIONED IN THIS ARTICLE
Dallas
Phillips Petroleum Company
Bartlesville
Okda
New York
Borger
Tex
Wall Street
Tax relief urged for small business from cabinet committee
Witnesses call legislation a priority as the 1956 cabinet committee report on small business proposes cutting corporate income tax from 30 to 20 percent for incomes up to 25 000. Sen Smathers leads hearings on a four point program from the New England Council's Philip W Hussey of Hussey Manufacturing.
MENTIONED IN THIS ARTICLE
Chianet Committee
Smathers
D-Fla
New England Council
Philip W. Hussey
Hussey
Hussey Manufacturing Company
North Berwick
Maine
Connecticut Industries and stock market roundup
The report notes irregularly lower prices on the American Stock Exchange with 610000 shares traded versus 570000 Friday. Losers include British Petroleum St Lawrence New Jersey Zinc International Petroleum and Molybdenum while A&P Glen Alden and Imperial Oil rose. corporate bonds were irregular and U S government bonds declined in over the counter dealings.
MENTIONED IN THIS ARTICLE
American Stock Exchange
British Petroleum
St. Lawrence
New Jersey Zinc
International Petroleum
Molybdenum
A&p
Glen Alden J
Imperial Oil
U.S
Jin
Consolidated Edison Secures 100 Million Credit From 15 Banks
Consolidated Edison of New York announced arrangements with 15 local banks for a 100 million credit line running Oct 8 to Oct 7, 1958. The facility funds current needs and anticipates permanent long term financing, with notes for up to 90 days at the prime rate. First National City Bank of New York acts as clearing agent. Banks include Bankers Trust, Chase, Chemical Bank, City Bank, Irving Trust, J. P. Morgan, Manufacturers Trust, Marine Midland, New York Trust, and others.
MENTIONED IN THIS ARTICLE
New York
Consolidated Edison Co
First National City Bank of New York
Bankers Trust Co
Bank of New York
Chase Manhattan Bank
Chemical Corn ‘Exchange Bank
County Trust Co
Federation Bank & Trust Co
Guaranty Trust Co. of
Hanover Bank
Irving Trust Co
Manufacturers Trust Co
Marine Midland Co
J. P. Morgan & Co, Inc
New York Trust Co
United States
Trust Co
Smith-Corona OKs 2-for-1 stock split and debenture issue
Smith-Corona Inc shareholders approve a two for one common stock split and a 12 million dollar convertible debenture issue at the annual meeting. The split takes effect Oct 7 and authorized shares rise to 1.6 million. About 6 million of the debentures may be offered to stockholders later this year. Proceeds will fund expansion diversification and working capital. A modified stock option plan for key employees is also approved.
MENTIONED IN THIS ARTICLE
Syracuse
Smith-Corona Inc
Smith- Corona
Eexarel
Dividends and stock payments from multiple firms
A list of quarterly and stock dividends from firms including Klein Department Stores, Chemical Products Corp, General Dynamics, Crown Cork and Seal, North Shore Gas, Shawinigan Water and Power, Sargent & Co, Mansfield Tire and Rubber, Price Brothers, Warner Co. Construction Materials, and Northwest Airlines. Details cover dividend amounts, payment dates, and record dates.
MENTIONED IN THIS ARTICLE
Klein Department Stores Inc
Chemical Products Corp
General Dynamics Corp
Crown Cork & Seal Co Ltd
North Shore Gas Co
Illinois
Shawinigan Water & Power Co
Sargent & Co
Mansfield Tire & Rubber Co
Price Brothers & Co. Ltd
Warner Co
Northwest Airlines Inc
New Park Mayflower Mine Closes in Utah City
New Park Mining Company halted operations at the Mayflower mine east of Salt Lake City on Sept 27, laying off about 200 workers. President W H H Cranmer cited losses from foreign ore imports and said reopening next year would require federal aid to domestic minerals. The plant had produced 6000 tons monthly since 1932.
MENTIONED IN THIS ARTICLE
Salt Lake City
New Park Mining Company
Park City
W. H. H. Cranmer
Utah
Granmer
New’Park
Mayflower
Aboriginal Tiwi Lands Granted In Perpetuity
The remote Melville and Bathurst Islands off Australia’s northern coast have been deeded in perpetuity to the Tiwi Aboriginal people, one of the world’s most primitive communities remains.
MENTIONED IN THIS ARTICLE
Melville
Bathhurst
Australia
Michigan's extremes touch in Porcupine Mountains
Michigan presents its highest point in the Porcupine Mountains of Ontonagon County and its lowest point nearby. The first U S canning operation started in New England with an export canning business opening in 1820 in Boston.
MENTIONED IN THIS ARTICLE
Michigan
Porcupine Mountains
Ontonogan County
New England
United States
Boston
Canco Comments On Merger Reports In Latest Talks
New York reports detail statements from a CanCo official confirming Marathon Corp as one of about a dozen firms in merger discussions. Marathon president John Stevens had said talks occurred, while CanCo's William Stork noted plans for a new paper mill project tied to Dixie Cup and other equipment needs.
MENTIONED IN THIS ARTICLE
New York
American Can Co
Marathon Corp
John Stevens
Marathon
Canco
American Can
William C. Stork
Dixie Cup Co
Norman F. Decey & Associates
Atomic Development Fund
Commonwealth Investment
Eaton & Hwrd
Incorporated
Mass, Investors Trust
Pioneer Fund
Wellington Fund
House 70 probe targets second mortgages hearings planned
Washington Sept 30 Congress will open a leasing investigation led by Rep Albert D Rains to probe second mortgages. The hearings in Miami Oct 8 9 and additional sessions in Washington in December may yield legislation to curb costly second mortgage financing and ease city financing for sewer water and facilities for growing communities.
MENTIONED IN THIS ARTICLE
Washington
Congress
Albert D. Rains
D-Ala
House Banking Subcommittee
Miami
Rains
Also Mentioned on This Page
Steel Institute
State ST
Bridgeport
Conn
White Motor CO
Tock
Dow Jones
Disdut
Igh
Alleghan
Blue Mondays
Con Edison
N. Y
Phillips
By ED Morse
General Motors
Associated Press
Lorillard
Northwest Airlines
Italy
Archangel Gabriel
Abbott L
Allied
Allied Sirs
WY Central
NY NH & Hart
NY Shipba
Alcoa
Senna
Amerada
My WA NorteWest
Airlin Ee
Isi
Bosch
Norsta Pw
Ohio
Am &F Pw Ar WU
lAm Gas&El
Oliver Co
M&fdy
Me Pac G & el
Am Motors
Toby
Pfizer
Philco
Armco
Philip Mor
Armour&Co
Phill Pet
Atchison
E&g
Publick Ind
Atl Relin
Pullman G& Eee
Lima
Balt G&e
Raytheon . Ee
Ball & On
Repub
Bendix Av
Renub
Beth
Steelei Ad
Reyn
Boeing Air Ib
The
Senate Small Business Com-Garden
Richard Oil
Phitton Borg Warn
Briges Mt
Ab, Budd Co
Safeway St
Bullard 1
SIL San F
Burl Ind
St Reg Pap
Burroughs
Schenley
Schering
Standard Oil
New Jersey
Sears Roeb
Case
Shell
Binclair
Id Socony
Cen & Bay
Sou Cal Hills
Alleghany Corp
Cer de Pas
Southern Co
Cert-teed
Amy Ay
Sou Pac
SEY
Aby
Hes
Chm Sp&pac
Sperry Rd
U. S. Steel
Chrysler
Spiegel
Insneree
Cir Finan
Aly AY
Royal Dutch
Sid Oo NJ
Jersey Standard
Cole F & Ir
Stan War
Swift & Co
Texas Co
Clint Can
Alleghany
Tex Pc&o
Cosden Pet
ICC
Crane Co
Textron
Con- Curtis Pub
Alleg- Decca
Deere
UN Carbide
del L & W
Air Lin
Doug Aire
Aire
Dow Chem
Youngstown
East Kor
Goodrich
Douglas el & Mus
US Steel
United Aircraft
Peake & Ohio
John
Manville
Greyhound
Gum Alrc
Guit Mob&o Va
Gult Oi
Heyden Not
Homestic
Houst L & P
Oh BY
Si' Howe Snd
al Jones & L
Kaiser
Kennecott
Kern
Ld A
Lehigh C&n
Val RR
McN&l
Wige & My
Mith, Ramsay & Co
Mann M&m
Marine Mild
Say Martin Co
Merck
Mao Kan Tex O 4%, By, 6% Hlfd Elec
KT Ptyk Ae
New Haven
Monsant Chibey
Mont Do Utt
New Haven Wat JJ
Monter Oil
South N.E
Mont Ward
Tenn Gas Trans
Motorolate
ASV
Tex East Trans
ROM Nat Risutooo
Av Trangent Gan P
Nat Dairy
Boh Oy United Tum Oy
Nat Distide
MaseCa
Connecticut
Connecticut Industries
G. H. Walker & Co
Acme
Arrow-Hart Hegeman
Dictaphone Corp
Vedas AZ
Fafnir Bearing
Safety Industries
Sosth Stanley Works
Torrington Co
Veeder Root
Bee
Smith, Ramsay & Co
Aetna Insurance
Atina Life Se QI
Amer Fid Cas Pt
Gen Life
Martford Fire
National Fire
City Trust
Bankers Tru
Bank of NY
Chase-Manhat
Chemical-orn
Empire Seeay
City Bk
Guaranty Trust
Hanover Bk NY
Irving ‘Trust
Mira Trust
N.Y. Trust
Ca Ae
Smith-Corona
Split
Philip van Court
New Park
House 70
Office Mart
Brooklawn Ave
Suburban Ave
National Bank
BPT
United Illuminating CO
Bridgeport Hydraulic CO
Hincks Bros. & Co., Inc
Main ST
Midwest Stock Exchange
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