Word: lorillards
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...Stock Exchange last week tobacco stocks took a deep dive. At the end of the week Liggett & Myers Tobacco Co. was 53, ten points below its Monday high. American Tobacco Co. was down eight points to 61. R. J. Reynolds Tobacco Co. dropped from 31 to 28⅞. P. Lorillard Co., low already, held fairly steady, closing five-eighths of a point off at 13. Wall Street buzzed with rumors of impending price cuts on the four leading U. S. cigaret brands&-American's Lucky Strike, Reynolds' Camel, Liggett & Myers' Chesterfield, Lorillard's Old Gold-whose...
...made $1,916,000 against $1,893,000. Its big competitor, LL S. Tobacco (Copenhagen snuff, also chewing, smoking, plug tobacco and cigarets) made $3,020,000 against $2,950,000. George W. Helme Co- (Navy Sweet, Square Strong snuff) made $2.147,000 against $2,331,000. P. (Pierre) Lorillard Co (Old Gold), which recently paid its first dividend since 1926, made $4.846,000 against $3,614,000. A big Lorillard stockholder is Selected Industries with 102,580 shares...
Last week P. (for Pierre) Lorillard Co. moved into a class by itself as the only major industrial concern in the U.S. to resume dividends in 1931. Lorillard shares had not paid since 1926. From 1925 through 1929 when most companies increased earnings, Lorillard showed a steady decline to a low of 29? per share, but last year they jumped to $1.48. The dividend resumption was partly made possible by the calling, last fortnight, of $13,758,000 Lorillard 5½% bonds (TIME...
Nobody was more pleased than Benjamin Lloyd Belt, oldtime, Virginia-born tobaccoman. In the business 40-odd years, he has been with Lorillard since it became independent in 1911, a result of American Tobacco Co.'s dissolution as a trust. In 1925 Lorillard got a thorough shaking up and Belt for president. When he took hold he found the company had everything except a popular cheap cigaret. Beech-Nut, Lorillard's first venture into the blended field, had failed. American Tobacco Co. had its Lucky Strike, Liggett & Myers its Chesterfield, R. J. Reynolds its Camel. Fat and quick...
...Lorillard Co. duplicated Standard Oil's move last week, announced it would retire $13,758,000 of its $33,679,000 funded debt Jan. 1. The called bonds are those remaining from an issue of 5½% ten-year debentures sold in 1927. The saving to the company will be about $756,000 annually, without adjusting for sinking fund operations. Lorillard's balance sheet as of Dec. 31 showed an exceptionally strong position. Current assets equalled $73,000,000 of which $17,000,000 were in cash, current liabilities $1,474,000. Famed Lorillard products: cigarets-Old Gold...