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cent stock split, on fewer shares outstanding. Whitaker is a major supplier of electrical wiring systems to the motor car industry and the Ford shutdown affected profits. In addition, the company had to pay premium prices for copper, a result of the copper strike. . 7 * * So Authorize Stock SHAREHOLDERS of Katz Drug company have authorized an increase in the common shares to 22 million from 1 mil lion and gave directors authori ty to issue up to 200,000 shares of preferred. Morris R. Shlensky, president, said that none of the additional ly authorized shares will be is sued at this time that no nego tiations are under way that would involve the issuance of either the common or preferred. “The additional shares are now available in event business opportunities or financing re quirements arise that make it feasible to use the equity route,” he advised shareholders. Stockholders also approved a modification of pre-emptive rights of common and permitted the issuance of script in the place of fractional shares. Commenting on current busi ness, Shlensky said the active pace of 1967 is continuing and that the first quarter of 1958 will show a sales increase of 25 per cent over the same 1967 period. Directors have voted the usual quarterly dividend of 12% cents a share, payable June 20 to holders of record June 3. _ 2. * * _ Double Authorization A MANAGEMENT-SPONSOR ED proposal to increase the number of authorized common shares of 3,200,000 from 1,600, 000 was approved by sharehold ers of Butler Manufacturing company at the annual meeting here yesterday. George C. Dillon, president, s said the action will make avail able stock for future stock splits or other uses, although manage ment has no plan or arrange ment at this time for issuance of the stock. C7 “ ~ ' Boon in Research IN A SPAN of 10 years a large part of the increase in Cook Paint and Varnish company’s industrial business—chemical coatings and resins sold to man ufacturing firms and finishes to the motor car industry—has been related to new products from its own research department. John S. Ayres, president, told share holders at the annual meeting here. In 1958, Cook began commer cial production of polyester res ins. In that year sales amounted to 323,000 pounds; last year, the volume was over 18 million pounds. Polyurethane foam, which was introduced in 1962 accounted for over 334 million pounds last year alone, he said. Prior to 1958 Cook Paint had no licensing arrangements. To day, he noted, the company has licensees supplying its products in most countries of the free world. The main emphasis has been on specialized industrial finishes such as those related to automotive and can manufactur ing. The royalties received “make a fine contribution to profits,’ he said, adding that the “growth experienced on new products will continue into the future.”’ Directors have ordered the usual quarterly dividend of 30 cents a share, for payment June 1 to holders of record May 10. — LIVE STEER FUTURES Chicago (AP)—Choice steer futures ranged ® points higher to 10 points lower yesterday: June pri 97.75 27.70 27.70 27.62 24.95 26.87 26.90 25.87 Avgust! 26.52 26.50 26.52 26.50 October 26.55 26.47 26.52 26.50 December 26.50 26.45 26 . 55 February pri 62 0 2 5 B— 26.70 26 70 i ‘80 Bid; A Asked? N Nominal POTATO FUTURES New York (AP)—Maine potato futures closed 2 cents higher to 1 cent lower at the New York Mercantile exchange. Sales 3,708 contracts. April, 1.62; May, 2.18; Novem ber, 2.33; March, 2.69.
Newspaper Details
Kansas City Times
Kansas City, Missouri, US
Thu, Apr 11, 1968
Page 48
Full Page
Clipped by
Anonymous
USA 12 May 2026
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