Word: ponts
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...market not only recovered from its nine-point slide of two weeks ago. but kept on climbing. At week's end the Dow-Jones industrial average closed at 332.53, up almost five points in a week. This week the market was still climbing. In one day Du Pont, on the rumor of a stock split, jumped 15½ points to 1433½. Said Commerce Secretary Weeks: "I don't care what others think; I believe the stock market is still one of the best barometers of business this country has." Despite the rising barometer, the Administration was taking...
...usual, Wall Street, which has overlooked the decline in business, also ignored the pickup. The stock market suffered its sharpest break in four years. Many of the blue chips that had led the long advance tumbled, e.g., Du Pont dropped 4⅛ points. The Dow-Jones industrial average was chopped down 6.59 points to 321, slipped further the next day. By week's end, however, the market had stabilized. Most traders viewed the break, not as an omen of disaster, but as a much-needed "technical" reaction to the market's almost uninterrupted advance of 25% since last...
...First four: Du Pont, Union Carbide & Carbon, Dow Chemical, Allied Chemical...
...Pont from $56.7 million to a whopping $73.8 million. In the auto industry, General Motors roared ahead with profits of $189 million, $38 million better than in 1953, rang up the second highest first-quarter sales record (705,303 passenger cars) in history. Some companies had slipped. U.S. Steel dropped $4.6 million to $44.8 million, and the railroads were down. The pressure was also on the independent automakers, and they did poorly. Studebaker lost $6,000,000 and passed its dividend. Nash lost $750,000, Packard $380,000 during the first three months. Kaiser reported that it had lost...
Many a corporation has grown so big that unless a broad effort is made to "humanize" it through the officers, the public will see it as only an impersonal conglomeration of plants. Giant Du Pont is one of those that has realized the need for a more personal approach, has made President Crawford Greenewalt its public face and spokesman. On the other hand, there are many corporate executives who still feel that when they have issued a handout to the press, they have done their duty. They make no attempt to make themselves available in press conferences, thus are often...