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Newspaper
Middletown Journal
Location
Middletown, Ohio, United States of America
Date
Jan 26, 1960
Page
5
Armco Steel Corp. announces 1959 net earnings of $76,849,800 or $5.19 per share on 14,754,400 shares. Sales totaled $1,022,396,000 up from $867,390,909 in 1958. The board declares a 75 cent dividend payable March 4 to record holders February 7. The year included a 116 day steel strike reducing output to 80 percent capacity.
Armco Steel announces a 15 year research breakthrough with a new one coat enamel iron named t'nivit. The mineral porcelain enamel now bonds directly to metal without a ground coat, reducing costs and expanding markets for appliance and industrial finishes. Production will be licensed to other steel firms and ramp up as capacity allows.
U S Steel Corp the nation’s largest steelmaker reports earnings for 1959 with mills shut July to November due to a strike. First six months earnings hit a record while the next three months showed a loss. nine month earnings totaled 223 million dollars.
Champion Paper & Fibre Co. reports higher sales and earnings for the quarter and nine months ended Dec 3. Quarter net income per share rose to 3 cents from 49 cents prior year after preferred dividends. Nine month net income per share increased from 1.22 to 1.63 with sales up 15.9 percent to 143,926,348.
AP reports a new steel industry contract adds an agency shop provision requiring workers outside right-to-work states to pay a service charge equal to regular union dues. The rule may face court challenges up to the Supreme Court, with potential implications for other industries.
Readable catalog listing coat sweaters, dresses, slacks, jackets, and accessories with multiple price points. Highlights include leather and fashion handbags, wool coats, corduroy pants, flannel shirts, robes, and sleepwear for men women and children, across whole store. Prices range from 19 cents to about 49.95, with various sale markers and floor locations noted.
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