Word: laughlins
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With furnaces pouring steel at record tonnages, the steel industry reported profits high, and still on the rise. Jones & Laughlin reported first-quarter earnings of $1.97 a share (v. 17? last year) on record sales of $236.4 million, predicted the second quarter will be even better. Armco Steel announced first-quarter earnings of $1.43 a share, more than 100% over a year ago. Equally soaring reports came from Inland Steel ("new first-quarter records"), Kaiser Steel (76? v. 46?), Pittsburgh Steel (66? v. a loss last year), Detroit Steel (83? v. a loss last year), Allegheny Ludlum...
...shore, will wedge National into the big-league Chicago market. It will process steel from National's Great Lakes Steel Corp. in Detroit, where National will add 500,000 tons of capacity, boost its total to 7,500,000 tons, only 500,000 tons behind fourth-ranking Jones & Laughlin. Counting further expansion at Steubenville, Ohio and Weirton, W. Va., National will spend $300 million through...
...Jones & Laughlin stock that Manhattan's Harry Schweitzer bought in 1955 at 38¾ is up to 60¾. His Continental Steel has gone from 33⅜ to 57¼, his Hecht Co. from 29¾ to 42⅝. All in all, the 895 shares in the Schweitzer portfolio were worth $21,000 and represented a handsome $12,000 profit, not to mention Harry's $1,600 savings accounts chunked together from dividends...
...Steel will average 79% of capacity in 1959, says Jones & Laughlin's President Avery C. Adams. He figures a steady rise to 91% of capacity in the second quarter, total production of 115 million tons, "and J. & L. will do better than these rates...
...seventeen ragged minutes in the second period, play raged with nothing but an occasional offside whistle, before each side exploded with a sterling offensive play. With Dan Dolan of B.U. resting in the penalty box after tripping Mc- Laughlin, Fischer broke around the defense on the left and shot on Tanner. The puck bounced off the backboard, but the center grabbed his own rebound and stuffed it in the cage...