Word: nationalization
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Dates: during 1950-1959
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...Westinghouse Electric Corp. With the company's nine months' earnings soaring ($3.17 per share v. $2.79 in 1958) on only slightly higher sales than last year, its directors recommended a two-for-one stock split, boosted the annual dividend rate from $2 to $2.40. For Westinghouse, the nation's oldest (73 years) and second largest electrical equipment maker (first: General Electric), the split climaxed a three-year drive to reorganize the company and recover from a crippling five-month 1955-56 strike...
...nation's steelmakers, the strike's effect on earnings was all too apparent. All continued to report heavy third-period losses, though most showed nine-month results ahead of last year. Top ranking U.S. Steel had its first quarterly loss in 21 years, and its largest ever. Big Steel lost $31 million in the July-September period, but had nine months' earnings of $3.80 per share v. $3.56 last year. Other nine-month steel earnings: 1958 1959 Bethlehem Steel $1.68 $1.75 Jones & Laughlin 1.45 3.15 Wheeling Steel 1.80 2.78 Inland Steel 1.86 1.99 While second-quarter earnings...
With U.S. consumer debt at a new high, a top Government economist last week issued a stern call for credit caution. Raymond J. Saulnier, chairman of the President's economic advisory council, told the nation's bankers not to go "overboard" in increasing consumer installment buying. Said Saulnier at the American Bankers Association's annual convention in Miami: "I hope we do not get involved this year or next in a great splurge of consumer expenditure propelled by credit expansion...
...rise was viewed without alarm by the nation's bankers. The A.B.A. found that the increase has not brought any decided boost in interest rates since June. Even though the prime rate on business loans has been raised to 5%, most banks said that they were keeping installment rates at about the same levels as early in the year. The Chase Manhattan Bank, in its bimonthly letter, also saw no danger in the increase in installment loans. Although the rate of installment credit is growing faster than in 1955, said the Chase Bank, consumer income is now larger. Despite...
...Street, put and call options have long been among the most baffling to investors. Many market players shy away from the options, consider them as risky as a crap game. But that is just not so, says jaunty, white-haired Herbert Filer, 65, head of Filer, Schmidt & Co., the nation's largest stock option dealer. This week, in Understanding Put and Call Options (Crown; $3), the first book on the business to be published in the U.S., Filer presents a case for using options to reduce stock market risks as well as for speculating...