Word: textron
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...share. After a poor third quarter, Reynolds Metals did so well in the last quarter that it actually increased its full-year earnings slightly, to $3.25 per share. Du Pont had the best fourth quarter in three years, with profits 20% better than the same quarter of 1957, while Textron's net jumped 24% to a record $2.51 per share...
Mascoma Mill. This mill, also in Lebanon, is presumably another Goldfine property. In 1955, Textron Inc., then Mascoma's owner, served notice that it planned either to dismantle or sell Mascoma. Into the picture stepped Lebanon's First Selectman Joseph Perley, another Goldfine friend; Perley was a prime civic mover in reducing local taxes on Goldfine local properties, with the result that Lebandale Mills, listing assets of nearly $1,000,000, paid only $2,528 in town taxes last year. Perley said he knew of an Ohio textile firm that would buy Mascoma-although he declined to reveal...
...Rupert Campbell Thompson Jr., 51, chairman of the executive committee of Textron, Inc., was elected president, will continue as chief administrative officer in charge of Textron's non-textile operations, which have grown to 13 divisions, now account for 75% of all sales since Textron began its rapid diversification program. Thompson will be right-hand man to Royal Little, 61, peppery chairman of the board, who has run a growing empire almost singlehanded since Textron Inc. merged with American Woolen Co. and Robbins Mills, Inc. in 1955. Last March Little hired onetime Textron Director Thompson, a personal friend...
...Chicago district for a strong president capable of commanding the respect of affiliated bankers, yet not so independent-minded as to cause the Washington FRB difficulties. Illinois-born and Dartmouth-educated, Allen was president of Campbell, Wyant & Cannon Foundry Co. of Muskegon, Mich, which was acquired by Textron, Inc. this year...
...TEXTRON DIVERSIFICATION is going so well company will get out of textiles altogether. After spreading out to a dozen different divisions (electronics to auto parts), Textron is making so much money in other businesses ($2,300,000 in 1956's first quarter) and losing so much in textiles ($404,000 in first quarter) that it will spin off Amerotron textile division into separate company, keep no interest except a few bonds...