Word: detroits
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Dates: during 1950-1959
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...Robert Osborn is so right. Would suggest that the Detroit planners make a survey on what the American people desire in the way of a design instead of trying to outdo each other in seeing who can put the most of what on which and where. MRS. R. B. FROCK Pasadena, Calif...
...Detroit the Institute of Arts has on display its newest (and sixth) Rembrandt, the small (8½ by 6½ in.) A Woman Weeping, donated by Henry Ford II, president of the Ford Motor Co., and his wife. Last year Mrs. Ford spotted the small Rembrandt in Manhattan's Rosenberg & Stiebel Inc., felt that it was "one of the most beautiful pictures I have ever seen." The Fords decided to buy it, paid an estimated $50,000, and made it their first gift to the Detroit museum...
Last year Jessop Steel netted a hefty $1,500,000. It has a new Canadian subsidiary, a new Detroit plant, new modern equipment, 1,300 employees. Its sales last year climbed above the $25 million mark. The 1950 RFC loan was retired in 16 months; a subsequent $1,000,000 loan from the Bank of New York was paid off in full last month, and Jessop now is debt-free...
...Free Headache. Of the 656 corporate domestic bond issues traded on the New York Stock Exchange in 1956, only 44 showed price rises for the year. Among them: Bethlehem Steel (up 30?), Southern Natural Gas (up 16½), Detroit Edison (up 11), General Dynamics (up 8?). Tax-free municipals were even more of a headache. In 1956 alone, $5.4 billion in tax-exempt bonds were floated, bringing the total municipal debt to nearly $50 billion. This flood of issues, competing for an already restricted money supply, forced the market down further...
Steelmakers still estimate that they will operate close to capacity in the first half of 1957, then level off to 85% in the second half, when plants slow down for vacations and Detroit closes for model changeovers. That would add up to a record 120 million-ton year. U.S. Steel, Inland Steel and Pittsburgh Steel expect to pour near capacity in the first half; Jones & Laughlin figures 100% through March, 90% in the second quarter. Said Inland President Joseph Block last week: "Steelmen are rediscovering a little pessimism. But there is no cause for alarm...