Word: lorillards
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Philip Morris (Parliament, Marlboro) and Lorillard (Kent, Old Gold) test all cigarettes down to a bare inch of butt. Other companies criticize this system because it produces higher tar yields for longer cigarettes. Another argument rages over what to report. American Tobacco measures "total solids" in smoke. Competitors have found that "solids" include tar, nicotine and some moisture; thus the advantage goes to American Tobacco's Hit Parade brand, whose tissue-paper-like filter absorbs more moisture than competing cellulose acetate filters. Hit Parade also claims "over 400,000 filter traps"; Lorillard says it could claim millions of traps...
...Crucible Steel, one of the most active, rose 4¼ points to 24. The few groups that did not benefit from Wall Street's afterthoughts on Lebanon and Iraq were defensive issues such as tobaccos and foods, which have been recession favorites. As investors switched to "hardware" stocks, Lorillard dropped 3½ to 67¼; General Foods slid 1¼ to 62¾. "A whole new set of uncertainties now faces us," said John W. Finley, vice president of Blair & Co. "A stock like Lorillard would really be hurt by an excess profits tax, because such a tax penalizes...
That kind of talk is profoundly disturbing to Elaine Lorillard, socialite wife of Festival Founder Louis L. Lorillard. Says she: "We've been chided for putting on a show, as if it were degrading for jazz to be played in theatrical surroundings for money . . . But we see no point in jazz being private and ingrown. Jazz is a full sphere, not an empty circle...
...there were fewer shares outstanding. Revlon's earnings edged up slightly to a new record. Fast-moving Polaroid's net jumped to 31?, up from 22?. In tobaccos, R. J. Reynolds (Camel, Winston, Salem) said profits were above the $1.25 a share of a year ago. P. Lorillard President Lewis Gruber, riding the phenomenal rise of filter Rents, reported that January-February earnings soared by 400% over 1957's first quarter...
...Figures? Hearing the blast, the U.S. tobacco industry quickly replied. Said P. Lorillard President Lewis Gruber: "Our advertising has been and is scrupulously honest and truthful. Our claim has been a simple statement of fact-Kent filters best of all the leading filter brands. These are facts, and they are documented." Added R. J. Reynolds President Bowman Gray: The figures used in the congressional report were published in a magazine (Consumer Reports) in March 1957; since then, Reynolds has improved its filter to reduce nicotine by 32%, tars by 27%. "It would appear that the figures quoted in the committee...