Word: nettings
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Dates: during 1950-1959
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...gainer was American Telephone & Telegraph Co., which reported a net of $64,400,000 (up 20% from the same period of 1949). When A.T. & T. held its annual stockholders' meeting in Manhattan a few days later, one stockholder said he was worried lest the good earnings and the $9 dividend rate become a target for government regulatory bodies. Why didn't A.T. & T. split its stock three for one, he asked, and thus change the dividend to $3 a share...
Other industrial giants had also put on profitable weight. International Business Machines Corp. was up 10% over last year with a net of $8,606,336; General Electric Co.'s Charles E. Wilson reported first-quarter profits of $36.8 million, 38% ahead of 1949-5 period and highest in the company's history. (G.E. also boosted its quarterly dividend from 50? to 60?.) For Westinghouse Electric Corp., March was the biggest month in history for its appliance division, and its quarterly profit, which was up 9.4% from a year ago, was $11.8 million...
Clear Skies. The big housing boom had paid off for the building-materials men. A shining example: Johns-Manville Corp. had a net of almost $4,000,000 (v. $2,800,000 last year). The building boom also helped the sales of carpetmakers, while Firth Carpet Co. reported a new and unexpected ally. "Television in the home [means] more visitors . . . and a general realization . . . that many of the other house furnishings are in a somewhat shabby and outmoded condition, particularly the floor coverings...
...peak production at General Motors Corp.* and other auto plants was reflected in the steel and tire industries. Both Allegheny Ludlum Steel Corp. and Pittsburgh Steel Co. racked up bigger profits in the first quarter than they had in all of 1949, and Armco Steel Corp.'s quarterly net of $11.8 million was about 42% above last year's period. B. F. Goodrich Co.'s sales were up 12% over 1949's first quarter; U.S. Rubber Co.'s were...
...surprise, the booming chemical industry was also up. Monsanto Chemical Co.'s net rose from $4,400,000 to $5,800,000, Union Carbide & Carbon's profit was up from $24.5 million to $27.4 million and Du Pont estimated that increased sales had boosted earnings per share to $1.15 v. 91? in last year's first quarter...