Word: laughlin
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Represented among the collectors are classmates David Rockefeller, Joseph Pulitzer Jr., George Franklin, Sydney Freedberg, Paul Geir, James Laughlin, Gordon Palmer, Albert Reiner, and Ernest Teves...
...meet its dividends at 55%-60% of capacity. Despite a drop in the profits shown in 1960 by the small steel companies-and hence in the industry's average profit-the big companies performed well even in recession. U.S. Steel's profits were up 20%, Jones & Laughlin's 12.4%, Bethlehem's 3.4%. Though 1961 sales are not expected to top 1960 substantially and another automatic wage rise of 7? to 10? an hour will go into effect in October, many analysts predict that the industry will equal or better its 1960 earnings next year...
...nation's steelmakers showed up just as poorly. U.S. Steel's earnings plummeted to 47? v. $1.97 in the first quarter of 1960, when they were making up for strike-lost business. Jones & Laughlin dropped to 28? v. $2.22 a year ago; Inland Steel slid to 46? v. $1.07, and Bethlehem Steel reported the lowest earnings for a nonstrike period since 1945: 14?, as against 1960's first-quarter earnings of $1.10 a share. "We had a bad first quarter," said Bethlehem's President Edmund F. Martin, "but production is up this month, and we expect...
...share in the first half of 1960, down from $4.50 last year. But Big Steel Chairman Roger Blough predicted a "modest and gradual rise" in output for the rest of the year, forecast that the mills would operate at 55% of capacity in the third quarter. Jones & Laughlin first-half earnings were $3.24 v. $5.31 in 1959. Bethlehem earnings dropped 92? from last year's first half to $1.72 per share, but Bethlehem President Arthur B. Homer, noting that July orders were running ahead of shipments, looked hopefully ahead: "This year isn't going...
...week up another 2.02, at 646.91. Whether or not this little bounce would prove the beginning of the summer rise, the surprising and heartening factor in the market's advance was that steels led the way. For the week, U.S. Steel rose 3¼, and Jones & Laughlin, Lukens and Youngstown Sheet & Tube all rose between...