Tobacco firms raise cigarette prices in major move
Three top tobacco firms announce higher wholesale prices forcing retailers to mark up. R. J. Reynolds Lorillard and Philip Morris lift wholesale costs by 50 to 70 cents per thousand, potentially adding 1 to 3 cents per pack. Industry execs say retailers will pad margins, with consumers likely paying a nickel more per pack.
MENTIONED IN THIS ARTICLE
New York
UPD
R. J. Reynolds
Lorillard Division
Loew's Corp. S
Philly Morris the
Lorillard
Milt
Bloonwasen
Reynolds
Winston, Salem
Camel
Doral
Vantage
Kent
Old Galt
Newport
Trim
Phillp Morris
Marlboro
Benson & Hedges
Virginia
Parliament
U S Steel profits hit record third quarter earnings
U S Steel Corp reported a third quarter net income of 214.6 million on record sales of 2.51 billion, doubling from the prior year. Nine month earnings reached 463.4 million with 5.15 billion in sales, while nine month shipments rose to 14.8 million tons as the firm noted high profits but lower return on sales versus mid-1930s levels.
MENTIONED IN THIS ARTICLE
Pittsburgh
US. Steel Corp
U.S. Steel Board
Edgar Speer
U.S. Steel
LS. Steel
ITT Accused of Default in Avis Stock Decree Case
The Justice Department accuses International Telephone and Telegraph Corp. of defaulting on a 1971 consent decree and seeks a trustee from Boston College professor Kenneth J. Frantz to oversee the divestiture of Avis Inc. stock. ITT would swap Avis stock with ITT stock, transferring control to independent Avis shareholders.
MENTIONED IN THIS ARTICLE
Washington
Justice Department
International Telephone and Telegraph Corp
U5 District Court
Hartford
Tevitt
Avis
ITT
Avie
Kenneth J. Frantz
Boston College
School of Management and Finance
Maheu seeks six million in damages from Hughes trial
Los Angeles jurors hear opening statements in a second phase to determine Maheu's personal damages from a defamation verdict. Attorney Morton Gatane says Hughes harmed Maheu's earning power and ability to secure work after a prior ruling in Maheu's favor.
MENTIONED IN THIS ARTICLE
Robert A. Maheu
Howard Hughes
Maheu
Los Angeles
Morton Gatane
Hughes
Antitrust Probe Expands Across Food Industry
U S Attorney General William B Saxbe announced a broad antitrust probe into the food sector. He said more criminal indictments for price fixing are possible as civil and criminal cases grow, including sugar eggs beef and bread. The department tracks regional and national inquiries into pricing conspiracies across multiple foods.
MENTIONED IN THIS ARTICLE
Washington
Justice Department
Willian B. Saxbe
Saxbe
Amey
Auticlrust
U.S. urged to pay Paiute Indians for legal costs
Senators Tunney Abourezk and Kennedy urged Interior Secretary Morton to reimburse the Paiute Tribe $106,000 spent defending water rights. The tribe had to petition the Supreme Court after Congress appropriated funds, for costs tied to the suit against the government over Pyramid Lake water diversions in Nevada.
MENTIONED IN THIS ARTICLE
Washington
UPD
Interior Department
Rovers
B. Morton
John V. Tunney
Morton
Supreme Court
Congress
Pyramid Lake
Nevada
Inflation impact worries on Ohlo farm employees
A clipped report from Ohlo farm notes concern over rising inflation and its effects on daily operations and workers. Investigations into price pressures are mentioned as a broader context for economic strain on local agriculture.
Also Mentioned on This Page
U.S. Steel Corp
Stepl Thay
Steel
U.S
Maheu Presses
Chitec Press International
T Hat
Saxbe Said
Awyers
Hat Heeft
Danse Hy Rulses Beef Calle
Ohlo
FK LN
Leely
CIA
General Electric
Evary
Amo
Ere
Long Beach
Gandin Grove
Tierica
Anaklim
N. Uee Meaer
F. Canson
YPER
SUN
Miavete
Qabdee
GRIO
Iran
Fiat Coleenys
Hays ‘Ony
Wryrius
Charge i
Eeces
Ssedemrata
Areiell
Borys
Weathan
Henry Bee
SPA
NISH
Ae Shell
Ms Thang Boutpiace
Tauan Doga
Uay
Ozeray Cott
Hollywood
San Gabriel
Pol
Eavan Availabe
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