Penn-Texas Increases Holding in Fairbanks Morse
Penn-Texas Corp led by German born financier L D Silberstein expanded its stake in Fairbanks Morse Co of Chicago, adding to a previous 9,900 share purchase to reach 443,650 common shares. May 1 total outstanding was 1,372,170. A May proxy fight settlement split board seats and A C Allen aligned with management. Silberstein is barred from control efforts for five years. J A Cuneo, Fairbanks Morse vice president, was noted by the Exchange.
MENTIONED IN THIS ARTICLE
New York
Penn-Texas Corp
L.D. Silberstein
Fairbanks, Morse & Co
Chicago
New York Stock Exchange
Exchange
Penn-Texas
Fairbanks, Morse Common
Fairbanks, Morse An
Fairbanks, Morse
A.C. Allen
Silberstein
the Stock Exchange
J. A. Cuneo
Westinghouse Develops High Output Fluorescent Lamp
Westinghouse Electric Corp announced a new fluorescent lamp that generates two and a half times more light than standard lamps. The efficiency gain comes from applying a mixed gas principle in the lamp design developed in Bloomfield New Jersey.
MENTIONED IN THIS ARTICLE
Bloomfield
N. J
Westinghouse Electric Corp
Pro-management director buys debentures and shares
A pro-management director acquired $10,000 of the company 5.34 percent convertible subordinated debentures during July and August and also holds 500 shares of Fairbanks Morse common stock.
MENTIONED IN THIS ARTICLE
Cuneo
Fairbanks
Morse
Realty commission dispute over Wilton land sale
Judge Mabel S. Glass reserved decision in Danbury on a dispute involving Florence and Charles Hoefle of Wilton and land sale profits. The plaintiffs claim the Hoefles agreed in January 1956 to pay a $7,000 commission for arranging a sale and for securing a buyer willing to pay about $66,000, with several attorneys to file briefs.
MENTIONED IN THIS ARTICLE
Merino Passero
Norwalk
Cision
Areali
Charles
Florence Hoefle
Hoefles
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