Word: quarter
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Dates: during 1950-1959
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Both U.S. Steel Chairman Roger M. Blough and Bethlehem Steel President Arthur B. Homer said that, barring a long strike, the industry's pickup in production would continue; for U.S. Steel and the industry second-quarter production will run between 90% and 95% of capacity. Blough said the rate of production, barring a strike, would drop "somewhat" in the third quarter but "would continue reasonably good because there's been a recovery in the economy that involves an increase in consumption by our customers." And for the fourth quarter production "ought to be better than the third...
...other industries earnings were just as good. For some companies, such as Zenith Radio Corp., whose stock has spiraled from 67½ a year ago to 324½ last week, first-quarter earnings were so high ($3.37 per share) that Chairman Hugh Robertson facetiously told stockholders that he had qualms about announcing them. Explained Robertson: "We were fearful of putting out our first-quarter figures because they were so good. We don't think the stock is overinflated, but we don't want to add fuel to the fire...
Other first-quarter earnings (per share...
...Chadbourne, 89, only living daughter of Crane's founder, explained that Evans' chief argument with Crane President Neele E. Stearns was over Stearns's slowness in expanding the firm's inadequate network of independent wholesalers. Proof of Evans' complaint was Crane's first-quarter earnings (23? per share v. 21? last year), which did not show the strong comeback from the recession of Crane's chief competitors. Mrs. Chadbourne decided to back Evans and Landa with her 120,759 shares, and they agreed to put Grandnephew Robert Crane on the board...
Evans built his pyramid with cold cash. When he won control of a company, he nurtured it until it began to generate cash, then used the cash to buy yet another company. In the first quarter Porter's sales rose from last year's $32 million to $52 million, its profits from 51? per share to $1.30, after a merger with one of its subsidiaries. For Crane, Tom Evans hopes to turn a similar trick...