Word: six-months
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When the Treasury auctioned off its latest weekly offering of 91-day bills, the interest rate averaged 4.166%. On six-month bills, the rate hit a record high of 4.796%. Meanwhile, the yields on already issued Government bonds soared to new highs. Their prices had dropped so much that nine issues were yielding 5% or better, the fattest yields on Governments since...
Sanctuary. In Edmonton, Alta., arrested for causing a disturbance in a family squabble, Mark Wing got a six-month suspended sentence after he pleaded: "Please, I want to spend my life in jail rather than return to my wife...
...orders, prime indicator of industrial activity, rose 38% above May to hit a new two-year high in June, one of the most significant gains since the orders started to turn up last fall. The June total of $67.3 million was more than double last June's, pushed six-month orders to $307.2 million v. last year's $179.8 million...
...earnings rise came from a strong demand for oil products that exceeded earlier industry forecasts. With record six-month sales of $621 million, Sinclair Oil Corp. boosted profits to $1.76 per share, v. $1.45 in the first half last year. Second-half prospects, noted Sinclair Chairman P. C. Spencer, are even brighter. Said he: "In July gasoline prices began to strengthen appreciably, and if this trend can be maintained, it is reasonable to expect that the remainder of 1959 should continue to show improvement...
...last year's second quarter. But he also noted that the $676 million spent by the company on cost-cutting, modernization and expansion in the last decade has a lot to do with the record profits. Kaiser Steel credited its $214 million expansion program with lifting its six-month profit 122% over last year, to $2.61 a share...