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Another cheery note for 1960's second half is international trade. The National Foreign Trade Council forecast that U.S. exports (excluding military aid shipments) will exceed imports by $3.4 billion by the end of the year. During 1959 the surplus was just under $1 billion. Aided in particular by foreign sales of commercial aircraft, and of copper and iron and steel products, exports in 1960 are expected to total $18.8 billion, against imports of $15.4 billion. This export surplus will help the U.S.'s balance of payments, and the U.S. trade deficit is expected to drop from...
...conceded that in places a third of the winter wheat was destroyed and would need to be replanted for even a partial harvest. Western agricultural intelligence sources estimated that even with excellent weather conditions for the rest of the year, Russia's 1960 grain harvest is unlikely to exceed last year's 124,800,000 tons (which was down from 1958's record 141,200,000), and might go as low as no million tons...
EXPORT SURGE in April brought U.S. total for first four months to $6.3 billion, a rise of 22% over the same period last year. Imports totaled $5 billion. Exports in 1960 are now expected to exceed imports by at least $2.5 billion, thus come closer to ending U.S. deficit ($3.7 billion in 1959) in balance of payments...
...annual meeting, American Tobacco Co. stockholders approved a 2-for-1 split, with a planned quarterly dividend increase of 7½? per share, to 57½? on the new shares. Company President Paul M. Hahn told shareholders that sales and earnings in the first quarter this year would exceed the first quarter last year, when American Tobacco earned $1.85 per share on sales...
...Westinghouse Electric Corp. expects first-quarter profits to exceed the 1959 period, when the company earned 40? per share; sales are running 5% to 10% ahead of last year...