Word: artloom
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...hours after Hoffman President Harold Roth, 47, who will take over the post of chairman, threatened to have him removed. A onetime mathematics teacher who won control of U.S. Hoffman in 1953, Marcus was charged by the Securities & Exchange Commission with manipulating trading in stocks of U.S. Hoffman and Artloom Industries Inc., of which Marcus is also chairman (TIME, Sept. 15), and thereby running up prices...
...most heavily traded stocks on the New York Stock Exchange last week was that of a little Philadelphia rug firm, the Artloom Carpet Co. From a low of $3.75 a share earlier this year, Artloom has soared to a high of $27.63, even though Artloom's business has been as threadbare as a boardinghouse hall carpet. Last week the Securities and Exchange Commission lifted the rug to see what went on, found an old familiar face in an old familiar pattern of action...
Next Marcus began buying Artloom stock, in June got himself elected chairman of the board. Thereafter he repeated his old spiel about big mergers to transform Artloom into a diversified manufacturing company. As before, the stock started up. When SEC looked closely last week, at least part of the reason was apparent. Not only did Marcus hold, at last report, 50,000 of Artloom's 504,982 outstanding shares, but the Manhattan brokerage firm of Van Alstyne, Noel & Co., of which Marcus is a partner, was reported to have had registered 225,000 shares for its own account...
...soon as SEC's investigation started, the Stock Exchange also moved in to brake any big drop in Artloom stock. It banned the use of "stop orders"; i.e., orders placed in advance by stockholders to sell (or buy) when the stock reaches a certain price. Such orders to sell, as they are successively executed, often send a stock plummeting. Nevertheless, Art-loom's price sagged last week...
Moths & Saran. Today, such firms as Masland, Firth, and Artloom have all switched over to the new tufted rugs. Besides cotton, the industry is now using new synthetic yarns. Masland has an allrayon rug that, it says, wears better and stays clean longer than cotton and has about the same resiliency as wool. Cost: about $10 a sq. yd. Firth has coated wool with vinyl plastic to make it wear longer; Nye-Wait and others have brought out nylon rugs that cost more than wool ($15 to $45 a sq. yd.) but wear better, are mothproof, and have a rich...