Sarnoff Calls Automation Vital Asset to Economy
Brig. Gen. David Sarnoff, RCA chairman, told the Life Office Management association that automation can be a vital asset to the U S economy and the fight against communism. He argued it boosts productivity, creates more and better jobs, and helps economies keep pace with population and living standards. He dismissed fears of unemployment, citing history of machine-age revolutions creating jobs.
MENTIONED IN THIS ARTICLE
Sarnoff
Washington, D.C
INS
America
David Sarnoff
Radio Corporation of America
Life Office Management Association
Communist Party
Nikita Khrushchev
Wall Street Journal ad promises profit and advice
An advertisement recounts a salesman noting WSJ readers as successful. It extols the paper’s daily business reports aiding income growth and tax savings. It pitches a trial three month offer for six dollars and provides subscription details for The Wall Street Journal.
MENTIONED IN THIS ARTICLE
Wall Street Journal
Wall Street
Business Daly
The
Wall, Street Journal
Broad St
New York
Sharp drop as New York stock market hits multi-year lows
The market fell to its lowest levels since October 1955, with major averages down 1 to 3 points as heavy volume surged. Analysts cited weak fall business prospects, tight money, the Syrian crisis, and bond yields, noting the drop was largely technical and could portend a rally or further decline.
MENTIONED IN THIS ARTICLE
New York
Eisenhower
New York Stock Exchange
Wall
Market Barometer and Bank Shares Signal Mixed Trading
The Dow Jones market report notes Buick laying off 6100 workers at Flint and Fisher Body strike idling 6100, with bank shares urged by ABA chief to list on exchanges. World Bank borrows 75 million from Germany as U S markets end lower, led by declines in utilities and rails, while overall breadth shows 351 up issues.
MENTIONED IN THIS ARTICLE
Dow Jones
Detroit
Buick
Sanya Motors
Flint
Atlantic City
Associat Cocke
Fisher Body
Colorado
Colorado Interstate Gas Co
Erle Cocke
Fulton National Bank
Chrysler Ie
Naturalleas
Atlanta
Corp
Cocke
Dianapolis
Benguet
Beth Steel
Cooke
Cilic Northwest Pipeline Corp
Royal Dutch i
S. O.N
Sperry
U.S. Steel
Chrysler
Alleghany Corp
Curtiss Wr
Washington
World Bank
U. S
Germany
United States
International Bank For Reconstruction
Associated Press
Deutsche Bundesbank
Frankfurt-Am-Main
Daily stock dividends and market declines noted
Dividend payouts listed for many firms including C G Conn Gustin Bacon and Maryland Casualty with payment dates in October. Market activity shows Benquet leading losers, Bethlehem Steel, and General Motors down, Dow Jones at 458.96, volume 1.18 million with broad bond declines and U S government bonds higher in OTC trades.
MENTIONED IN THIS ARTICLE
Ben-, Guet
Bethlehem Steel
General Motors
Royal ‘Dutch
Standard Oil
U.S. Steel
Chrysler
General Dynamics
Baltimore & Ohio
Phillips Petroleum
Standard & Poor
Freeport Sulphur
International Business Machines
Firestone
du Pont
Kennecott
Southern Pacific
Gulf Oi
Ford
Caterpillar
Douglas Aircraft
General Electric
International Nickel
American Stock Exchange
Pacific Petroleum
Creole Petroleum
Bunker Hill
Woodley Petroleum
Fairchild Camera
Mesabi Iron
U.S
New York Stocks Rise Amid Corporate Flyers and Deals
Connecticut issues updates on stock prices as Thomas Maguire and Western Traffic association members discuss rate study. Curtiss-Wright President Hurley denies paying taxpayers $25 million for the Studebaker-Packard deal. National Tea expands by acquiring Logan's Super Markets in Nashville. Link Radio assets acquired by L A Young Spring & Wire. GE wins $5.1 million Air Force contract for over the horizon gear. Solar Aircraft lands up to $5 million for turbine powered airborne gensets. Transcontinental Gas Pipe Line seeks $53.7 million expansion. J P Stevens plans 280,000 new shares to buy Forstmann Woolen and Forstmann Co. Geopolitics and credit tightening loom over six months.
MENTIONED IN THIS ARTICLE
Bethlehem
Eales Salon
Navy
Abbott
Alco
NY Central
Ny-Nh & Hart
Alcoa
Amerada
Nia M. Pw
North West
de- Am
Vas
Nor Pac
Am & F Pri
Am Gee & el
Ma&Fdy
Oliver Co
Chi- Am Motors
Pac G & el
Pw & JA
Ata Tel & Tel
Phelox
Conde
Philco
Armeo
Armeo Stl. 3 93 54% 52% 53% 23 4" 14% Armour&Co
Philip Morars Alyais
Ashi OH
Phill Pet
Atchison
Aby Publick
Ind
Ayco Mfa
BI Pullman
Bald Lima
Raytheon
Bendix
Repub
Benguet Oy Boe
M Repub
Rohr Alrc
Budd Co
Royal
Bullard
Schenley
Schering
Case
Sears
ASV
Southern, Co
Ches & Oh
Cbm Sp&pac
Chrysler
Sperry Rd
Spiegel ‘ Sey
CIT Finan
Algay
Climax Mo
Coca Colm
Colo F& Ir
Col Gas
Advaby
Sunray
Swift & Co
Texas Co
Tex PC
Textron al
Tidewat
Decca Reel
Transamer Fy
Deere
del L& WY
Dow
Ma& M
Fl & Mus
Ford Met
Wilson & Co
Gen Motors
Woolworth
Ie OM
Worthington
Gillette
Sh &T
Goodiich
G. H. Walker & Co
Ria
Gull Mob
Gulf Oil A
Heyden Npt
Bankers Tr
Arrow-Hart Hegeman
SAY
Bank of NY
Associated Spring
Homestic
Chase-Manht
Howe Snd
Aly
Empire Qs
Eng
Aly Alys Als Birst
City Bk
Bay
Sgestle
Engcom
Inland Silven
BOY
Guaranty
Dictaphons Corp
Han BK NY
Farrel Birmingham
Mirs ‘Trust
NY Trust
Handy Harman
TelsTel
US Trust
Johns Man Ja
al Hy
Landers, Frary
Jones &L
Marlin Rockwell
Kaiser al
New Britain Machine
Kennecott
Alk Narth Dudd
Lehigh C&n
Vamy Vath
Peter Part
Y Plume
Atrood Ae
Safely Industries
LOF ‘Glass
Joslic Stanley Works
Lib McN &L
Smith, Ramsay & Co
Dig. T Su. Lorillard
Oy Mann M&m
Vy Martin, Co
Merck
Hou
New Haven
Monsan
South NE
Motorola
Mass Co
Nat Dairy
Pacific Gas Files for Rate Increase
Pacific Gas and Electric Co has applied to the California Public Utilities Commission for a gas rate increase to yield about 9.22 million dollars. The request aims to offset a 9.348 million dollar rise in gas costs, with the action filed in San Francisco on September 23.
MENTIONED IN THIS ARTICLE
Pacific Gas Files
San Francisco
Pacific Gas & Electric Co
California Public Utilities Commission
Admiral Radford Joins Bankers Trust as Consultant
Admiral Arthur W. Radford, former chairman of the Joint Chiefs of Staff, has joined Bankers Trust Co. as a consultant starting Jan. 1. The appointment, announced in New York, follows Radford's retirement from El Paso Natural Gas and relates to the bank's developing foreign and domestic business under an FPC rate filing.
MENTIONED IN THIS ARTICLE
SLALE
el Paso Natural Gas
New York
Dj) Co
Texas
Arthur W. Radford
el Paso
PG & Elcently
Bankers Trust Co
Ness
Northeastern Creditors Vote Toward Carpenter Shakeup Plan
Carpenter Steel moves to absorb Northeastern Steel Corp pending a federal court approved reorganization. Creditors must vote two thirds in favor, with final transfer likely by late October. Court action will confirm the arrangement and execution could take two to four weeks after approval.
MENTIONED IN THIS ARTICLE
Philadelphia
Carpenter Steel Company
Northeastern Steel Corporation
Bridgeport
Conn
Dow Jones
Northeastern
Federal District Court of Connecticut
Carpenter
Reading
Isl
Delco Employment at High for Year
Delco Appliance division of General Motors reports employment at its highest point in more than a year. After starting the year with 3,400 workers it has surpassed 3,800 and expects to reach about 4,000 in the coming weeks. General manager Paul H. Rutherford cites increased production of electric windshield wipers as a key factor.
MENTIONED IN THIS ARTICLE
Rochester
N. Y
Delco
General Motors
Paul H. Rutherford
Also Mentioned on This Page
Ard Kradc
Sac
Broag ST
Wember
OLE Esos Mortgage CO
State ST. Re
Bonn
By ED Morse
ABA
Fisher
Dow Jones News Service
Mr. Cocke Mage
C. G. Conn
Gustin-Bacon Mig
Gorin
Manhattan Bond Fund Inc
Maryland Casualty Co
Plastic Wire & Cable Corp
Steel Parts Corp
Toro Mig. Co
Fireman's Fund Insurance Co
McGregor-Doniger Inc
Schwitzer Corp
Leeds & Northrup Co
Miz. Co
Trane Co
A. M. Bayers Co
Superior Steel Corp
Boston Edison Co
Okonite Co
Consumers Power Co
General Mills Inc
Goodman Mig. Co
Lithuim Corp of America, Inc
Warren Brothers Co
Bathurst Power & Paper Co. Ltd
Atlas Steels Ltd
Combined. Enterprises Ltd
Connecticut
Thomas 4. Maguire
Western Traffic Association
Studebaker - Packard
Roy T. Hurley
Curtiss-Wright Corp
Studebaker-Packard
Special House Armed Services Investigating Subcommittee
Hurley
Subcommittee
Herbert
D-La
National Tea Co
South
Logan’s Super Markets, Inc
Nashville
Tenn
L. A. Young
L. A. Young Spring & Wire Corp
Link Radio Corp of New York
Link
General Electric Co
Air Force
Solar Aircraft
Solar Aircraft Co
Transcontinental Gas
Federal Power Commission
Transcontinental Gas Pipe Line Corp
J. P. Stevens
J. P. Stevens & Co
Forstmann Woolen Co
Julius Forstmann & Co
New Jersey
Stevens
Forstmann
Federal Reserve Boards
Mutual F
Norman F.pacer & Associates
Atomic Development Fund
Commonwealth Investment
Eaton & Hard
Mass Investors Trust
Pioneer Fund
Wellington Fund
ADM
Radford
Otes
Bridgeport Hydraulic City Trust CO
Bridgeport Hydraulic Company
Chas. W. Scranton & CO
United Illuminating
BPT
Hydraulic
Hincks Bros. & Co., Inc
Main Street
Telephone
Edison
Midwest Stock Exchange
Andrew Wilson Company
Lawrence, Mass
Brooklawn Avenue
Bridgeport, Connecticut
Metropolitan
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