Word: half-year
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Steel directors met in Manhattan to announce half-year earnings and take action on the preferred dividend...
...heavy industry orders, have benefited from mounting sales of flat-rolled steel for light industry uses. By last week nearly every important steel company had reported six months' earnings. These indicated that on the whole the junior members of heaviest of heavy industries had enjoyed a spanking half-year recovery...
...Some half-year earnings...
Bullish as were the half-year earnings of most steel companies, they were not bullish enough to account for last week's spectacular rise in steel shares on the New York Stock Exchange where no less than 14 steel issues broke into new high ground. One was U. S. Steel preferred which soared to 100¾, to sink only three-fourths of a point after earnings were announced. Reason was the counter-seasonal boom in steel. While everyone supposed that, as usual, steel operations would wilt in July, late July production turned out to be nearly a record...
...Commercial Credit. The companies finance industrial equipment sales including machines and heavy goods, sales between textile manufacturers and merchandisers, hundreds of other miscellaneous transactions. However, automobile financing is the biggest part of their business and it is the current automobile boom which enabled Commercial Investment Trust to announce record half-year volume and profits last fortnight and Commercial Credit to report a similar achievement last week...