Word: youngstown
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WINIFRED SMELTZER Youngstown, Ohio...
...Absolute size," says Bicks, "is absolutely irrelevant. What is important is the power to control price and exclude competitors." Bicks defeated the proposed merger between Bethlehem Steel and Youngstown Sheet & Tube not because the two together would have controlled the market but because he felt such action would lead to a rash of mergers that would weaken competition in what is already a highly concentrated industry...
...Youngstown, Ohio...
...Buyers were loading up because all signs point to a banner year, e.g., December business set records and January department-store sales are running 9% ahead of the year-ago rate. Some of the freest spenders in Manhattan came from cities that the steel-strike settlement helped most-Pittsburgh, Youngstown, Cleveland, Birmingham, Detroit. "The buyers have a lot of money, and they are spending it like mad," said Felix Lilienthal Jr., president of a company that buys for stores with total sales of $850 million. "They are also trading up, buying better merchandise...
...nine-month earnings well ahead of last year. Third-ranking Republic reported a net loss of $24,861,406, biggest quarterly loss in its 60-year history. But because of a record second period, Republic's nine months' net was $2.69 per share v. $2.50 last year. Youngstown Sheet & Tube Co., No. 6 among the nation's steelmakers, had a third-quarter loss of $7,149,660. In the first nine months of 1959, Youngs-town's net was $6.20 per share v. $3.32 last year...