Word: mille
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Dates: during 1950-1959
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...auto upsurge, sparking a huge demand for metal, was firing up furnaces all through the steel industry. Mill output last week was at 77.5% of capacity, highest in ten months and a full 20% over the summer level. Steelmen were also receiving big orders from such other metal-consuming industries as machine tools and appliances. TV setmakers for example, hit a record monthly output of 948,000 units in September and were pushing higher still...
...parade will then continue on Mill toward Winthrop and Lowell, and after a five-minute serenade at the foot of Holyoke, will return to the Yard...
FOLLANSBEE STEEL mill will finally be moved to Gadsden, Ala., after a battle with the townspeople of Follansbee, W. Va. and a last-minute bid by Cleveland Financier Cyrus Eaton (TIME, Sept. 27 et seq.). By a vote of 360,442 to 25,212, Follansbee stockholders have agreed to sell their money-losing company with its $5,000,000 in liabilities for $9.3 million to Manhattan's Frederick Richmond. He, in turn, will sell the mill and inventories to Republic Steel Corp. for the move south, expects to make a fine profit...
...Ohio steel producer, told the SEC that they were willing to pay $21 a share for Follansbee, topping Richmond's offer by $1 a share. They would buy 51% of the stock immediately, and the rest within a year. Furthermore, Eaton and Berkman would keep Follansbee's mill operating right where it is. Would SEC kindly order a re-solicitation of stockholders so that they might make a "democratic choice...
...Richmond hoped to do. Richmond had offered Follansbee a gross price of $9,286,620. But since the company had $4,030,405 in cash and bills receivable in the till, the actual out-of-pocket cost to Richmond would be only $5,256,215. By selling the mill for $1,500,000 to Republic, and selling Follansbee's inventories for another $3,090,000, Richmond would reduce his net outlay to a mere $666,215. Richmond would also receive a tax refund of $970,000 due to Follansbee for 1952-53 losses, giving him a cash profit...