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Newspaper
New Castle News
Location
New Castle, Pennsylvania, United States of America
Date
Dec 07, 1964
Page
9
Allied Stores Corp of New York announces a 77 percent rise in earnings for the nine months ending October with earnings at 4.2 million against 2.6 million a year earlier. The firm operates 10 department stores including the New Castle Store and notes 1964 sales at about 508 million.
A UPI report notes small investors are cautiously reentering equities for the first time since the 1962 crash. Stocks show mixed signals with IBM and AT&T hitting 1964 lows, while overall NYSE paper profits rise and mutual funds rebound, signaling a restrained recovery.
Blaw-Knox of Pittsburgh reports a hopeful 1965 business outlook. W Cordes Snyder Jr says auto and railroad demand will lift vehicle sales and equipment orders. Growth in power and highway construction, container industry, and food chemical processing fuels metals demand. Risks include possible stoppages affecting company or customers.
New York stocks opened firm with active trading. Phillips Petroleum fell 1 percent to 54 54, Tidewater declined to 49, Socony Mobil rose to 88 1/2, U.S. Steel slipped to 52 7/8, Republic eased to 43 1/2, Youngstown dropped to 44, Bethlehem Steel gained to 35 4. The market edges higher on early dealings.
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