Word: processor
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...turn of the century, has been expunged from its corporate history). It has had to test its advice in action. As controlling stockholder, it has had to step in to straighten out management problems, at times has found itself running an insurance company, a machinery maker, a food processor, a coal-mining firm, and a molasses company. To settle the estate of one wealthy New York lawyer, the bank merged three small cement companies he controlled, formed General Portland Cement Co., which in 13 years has jumped from $15 million in sales to $59 million...
...Harry L. Wildasin, Laboratory Director for Hood, said tests have been run on milk from every Hood processor in New England. Some samples have shown no measureable radioactivity, while others have shown measurable but very low radioactivity. No milk so far is considered dangerous by Wildasin and public health officials...
...Holt, Rinehart & Winston, Inc. But retiring Secretary of Agriculture Ezra Taft Benson, who has had mountains of surplus corn on his mind through his eight hectic years in office, elected to linger in familiar pastures. Last week he became a director of Corn Products Co., world's largest processor of that troublesome crop...
International Business Machines' quarterly earnings of $2.40 a share (v. last year's $1.91) hiked the company's 1959 total to a record $7.97 a share. General Foods Corp., the nation's largest food processor, rose 17.3% to set a new quarterly record of $1.12 a share v. 95? a share last year. Bulova Watch Co. ticked its way to an impressive 69% hike for the first nine months, largely on the strength of higher earnings in its third quarter...
Mortimer wants products with the widest popular appeal, shies away from the specialized or offbeat food. At General Foods, this policy has resulted in a pretax profit of 10? on sales v. 6.8? for the No. 3 processor, Standard Brands (Chase & Sanborn, Royal desserts, etc.), but well below the 14.8? of Campbell Soup, the No. 2 company. Overall, General Foods profits have risen from $28 million in 1954, when Mortimer took over, to an estimated $60 million this year. But Mortimer is still not satisfied with some of his products, notably the Gourmet line, intends to make some changes. Says...