Word: eastwoods
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...booming meat sales, the packers' profits have been less than those of other food processors. After paying its first common dividend in ten years in the first quarter of the year, Armour decided not to pay a dividend this summer. Said Armour's Board Chairman George A. Eastwood: "Our earnings on meat last year were at the rate of about one-fifth of a cent a pound. Obviously a profit of one-fifth cent cannot be responsible for the increase which has taken place in meat prices since before the war." Nevertheless, the suit helped drive packing shares...
...this prospect of more beef failed to cheer dapper, brisk George A. Eastwood, 65, president of Armour & Co. In words as sharp as a cleaver stroke, Eastwood told Armour stockholders that total packinghouse production would probably drop...
...packers disagreed with Eastwood's gloomy forecast. The rush of cattle to market was temporary. Apparently it was just the disgruntled cattle raisers' and feed-lot operators' way of expressing their dissatisfaction with the new ceiling of $18 a 100 lbs. on cattle. The feeders were saving expensive feed by selling their stock, and in their hurry to get out from under, they were shipping animals that averaged 40 to 65 lbs. less than 1944's marketing weights. Should the feed-lot operators trim their herds too sharply, the gristle-tough outlook would be for something...
...supply of other types of meat will be just as lean, Armour's Eastwood reported. Said he: "Our best information now is that we will have 30% fewer hogs than came to market in 1944. The lamb outlook is for a reduction...
This week the American Meat Institute went Packer Eastwood one better. A.M.I. reckoned that, during the second quarter of this year, civilians will get only 151 million lbs. of meat a week v. 263 million lbs. a week last year...