Armco first quarter earnings fall 30.8 percent
Armco Steel Corp reported first quarter earnings of 15.19 million dollars 1.03 a share on sales of 281.33 million down from 21.94 million dollars 1.48 a share on 297.09 million sales a year earlier President William Verity cited weaker demand for steel mill products especially in autos and appliances plus higher costs as causes He forecast a second half upturn but said 1967 earnings would likely not match 1966 shipments fell 4.4 percent to 1.25 million tons and capital improvements are on schedule with key facilities due this year full benefits not until 1968.
MENTIONED IN THIS ARTICLE
Armco Steel Corp
William Verity
Armco
Verity
Steel firm outlines 1967 costs and 1969 facility completion
Chicago Grain third quarter at the Ashland Works and the new 86 inch hot strip mill start production in the fourth quarter at Middletown Works. Verity notes startup costs will show in 1967 costs while benefiting from facilities in Houston Kansas City Ashland and Butler. Johnston cites a stronger second half 1967 and potential tax credit boost with 87 million tons expected. Shareholders approve annual director elections and authorize more preferred shares.
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Ashland
Middletown Works
Verity
Houston
Kansas City
Butler
Cincinnati livestock market Report from USDA Auction
In Cincinnati the USDA market notes cattle 200 and calves 25 were inadequate for testing. Hogs 1 200 barrows and gilts opened moderately active and closed very slow with 25 lower. Barrows and gilts 1 3 including 1 2 at 190 230 lb 18 25 18 50. Sows 325 550 lb 14 50 15 25. Boars 13 14. Sheep untested.
MENTIONED IN THIS ARTICLE
Cincinnati
USDA
Egg Price Report From Ohio and Indiana Farms
Ohio and Indiana egg prices posted after candling and grading. Jumbo eggs mostly 27 28 cents, large 24 25, medium 16 17, small 12 14. Undergrades 9 11. Country packing plants paid 14 19 for large, with loose grades 29 41 cents for carton large A. Sales to retailers in major cities continue.
MENTIONED IN THIS ARTICLE
Columbus
Ohio
Indiana
U.S
Firm Files 1 Million Dollar Damage Suit
The McLean Trucking Co of Sharonville files a $1 million damage suit in U S District Court Cincinnati against Local 100 of the Teamsters Union over a continuing work stoppage tied to the national lockout ending April 12. The suit seeks $200000 per day for the stoppage and accuses the union of violating working agreements with 400 employees. George Starling of Local 100 says the stoppage is unauthorized.
MENTIONED IN THIS ARTICLE
Cincinnati
McLean Trucking Co
Sharonville
Teamstere’ Union
U.S
George Starling
Local 100
Mclean
Market Opens Higher Amid Cautious Trading
The New York market rose at the opening Friday in moderately active trading. Gainers outweighed losers though many stocks opened tardy and investor caution lingered after six straight advances. Notable first quotes include General Dynamics at 59, Chrysler at 42, Sperry Rand at 32, International Telephone at 95, and Kennecott at 38.
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New York
General Dynamics
Chrysler
iSperry Rand
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