Word: ingot
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MERRITT-Chapman & Scott, one of the top-U.S. construction and salvage firms, is going into the steel business. Having recently bought the Milton (Pa.) Electric Steel Corp., it now wants to buy a second steelmaker, the $31 million Newport (Ky.) Steel Corp., which has an annual ingot capacity of 709,000 net tons. The offer: one share of Merritt-Chapman stock (value: $28½ per share) for every 2.1 shares (1,078,547 outstanding) of Newport Steel...
...many new products-ranging from manhole covers to springs for cigarette lighters-that its rail and fastening business, which once accounted for 70% of its tonnage, now represents only 20% of production. Since 1945, C.F. & I. has risen from twelfth place to ninth among U.S. steelmakers, doubled its ingot capacity (2,466,570 tons...
...remained one more duty for Elizabeth II to perform: to receive the Lord's Supper. The liturgy of the Holy Communion was said as the Archbishop led the Queen to the Communion rail. Kneeling, she removed her Crown and offered the oblation which custom demands of monarchs: "An ingot or wedge of gold, of a pound weight," and "a pall or altar cloth." Philip, her husband, stepped to her side, and while the choir sang the hymn, All People That on Earth Do Dwell, man & wife received the bread and wine. Together, they led the prayer: "Our Father, Which...
After earmarking 60% of their production for defense and Government stock piling, aluminum's Big Three in the U.S. (Alcoa, Reynolds, Kaiser) cannot meet booming U.S. civilian demand. No foreign competitor knows this better than Canada's Aluminium Ltd., world's biggest producer of primary aluminum ingot. Its salesmen have been calling on the Big Three. Last week, Aluminium Ltd. closed deals with Alcoa and Kaiser to supply them with a whopping 713,000 metric tons of aluminum during the next five years. Price: more than $300 million...
Steel. Hard hit by strikes, which cost 6,900,000 ingot-tons production, U.S. Steel's sales fell 11% (to $3.1 billion), and profits dropped from $184.3 to $143.6 million. Jones & Laughlin's earnings fell from $30.9 to $19.5 million...