Word: lorillards
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With profits recovering, many a board of directors saw fit to pass on to stockholders a traditional holiday treat: an extra year-end dividend. P. Lorillard Co., still riding high on the sales of Kent cigarettes, voted a 95? extra, bringing dividends to $4 v. $1.95 in 1957. Extra dividends and 2-for-1 stock splits were approved by Pet Milk and Kellogg Co.; growing drug sales gave Chas. Pfizer & Co. stockholders a higher dividend, a year-end extra of 60? and a proposed 2½-for-1split...
...Lewis Gruber, 63, president "since 1956 of P. Lorillard Co. (Old Gold, Kent, Newport), fourth largest U.S. tobacco manufacturer (first nine months' sales: $353 million), moved up to the vacant post of board chairman, but will continue as chief executive officer. Taking his place as president, and most probable successor to head Lorillard when Gruber retires in two years: Harold Francis Temple, 55, vice president and director of sales, who began as a salesman with Lorillard 30 years...
...clobbered Cornball Lawrence Welk when placed opposite him. Thus encouraged, says Kathryn, "we figured that if we were going to take a chance on being criticized, we'd rather do it on a winter show." This year the Murrays finally found a full-time evening sponsor (P. Lorillard...
Corporate profits, following just about everything else (see above), are turning up-and in some cases turning up sharply. Among the standouts last week was P. Lorillard Co. (Kent, Newport, Old Gold). President Lewis Gruber, who took over two years ago and soon started sales soaring, reported third-quarter earnings of $7,478,350 v. $3,076,028 last year. For the first nine months of 1958, Lorillard earned $19,303,199 or $6.46 a share v. $1.82 for the comparable 1957 period...
Sour went the notes in the love song of Louis and Elaine Lorillard, he a tobacco millionheir, they co-founders and sponsors of the splashy, noisy Newport, R.I. annual jazz festival. Filing suit for separation, blonde, pretty Elaine-who met him in Italy during World War II, when he was an Army major, she a Red Cross aide-charged that Louis had locked her out of their Manhattan cooperative apartment and packed her belongings off to a nearby hotel while she was away for a weekend...