Word: corpe
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Dates: during 1950-1959
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Leaders in other industries made equally good showings. Westinghouse Electric Corp. reported profits of 82? a share on record first-quarter sales after suffering a loss in the strike-idled first quarter of 1956. General Dynamics Corp. showed a profit rise of 103% (from 56? to $1.13 a share) on a sales increase of 93%. The Union Pacific Railroad Co. increased its profits from 67? a share to 73?, and Northern Pacific Railway profits rose from 54? to 73?. Earnings of Mack Trucks, Inc. rose 33% above the 1956 first-quarter level (from 89? to $1.18 a share...
...paper and packaging industry, which had been booming along, showed the toll of lessened demand. Both sales and earnings drops were reported by St. Regis Paper Co. and Union Bag-Camp Paper Corp.; profits were also down for Crown Zellerbach Corp. (66? a share v. 1956's 86?), Scott Paper Co. (66? v. 72?) and Allied Paper Corp. (90? v. $2.30). High costs of labor and materials hurt Crane Co., Borg-Warner Corp., Carborundum Co., and Owens-Corning Fiberglas Corp...
...starter, Phillips blocked Young and other stockholders in his Alleghany Corp. from exchanging $40 million in 5½% preferred stock, on which dividends were in arrears, for new 6% convertible stock on which Young and the shareholders could start drawing dividends. Then Phillips won a lower court decision holding that Alleghany Corp. should be regulated by the Securities and Exchange Commission, not the Interstate Commerce Commission. ICC had allowed Young to use the Alleghany Corp. in his fight for the Central in ways that the stricter SEC rules would have forbidden...
...Ernest Tener Weir, 81, last steelman still running a major steel company he founded, stepped down as chairman and chief executive of National Steel Corp. because of ill health. At 15 Weir started working for a Pittsburgh wire company for $3 a week, at 30 acquired a broken-down West Virginia tin-plate mill and built it into the nation's sixth largest steel company, with 1956 assets of $675 million and $664 million of sales. In his career Weir fought the Government, unions and fellow steelmakers; his is the only sizable steel company not organized by the United...
...Automatic Teamaking. An automatic teamaking machine has been developed by Food Machinery & Chemical Corp. for the Tea Council of the U.S.A., Inc. and the National Restaurant Association. By infusing fresh tea with 200° F. water, the stainless-steel pushbutton brewer makes 500 cups of hot tea or 400 glasses of iced tea an hour. Teamen see a potential market for the $850 machine in 241,000 high-volume restaurants, note that tea is one of the most lucrative restaurant items, with iced tea grossing an 85% profit. Using a pilot model, one restaurant boosted hot tea sales 125%, iced...