Word: stocks
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Dates: during 1960-1960
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...increase in sales during the trial period would cost the company $2.8 million; a 50% increase would cost it $18.7 million. The first Wall Street reaction was one of suspicion. By week's end A.M.C. stock was off one point. What the sellers failed to realize is that Romney cannot lose. He pays nothing if sales, down slightly in December from November, do not increase at least 10%. But if his gimmick makes them rise above that, the profit on the extra cars sold will more than make up the rebates...
After a bitter six-month struggle for control of the Baltimore & Ohio Railroad, the Chesapeake & Ohio last week won out over the New York Central. The C. & O. obtained tenders from B. & O. stockholders for 55% of the road's stock, enough to ensure control. The victory was a personal triumph for the C. & O.'s fast-moving President Walter J. Tuohy, who personally canvassed hundreds of B. & O. stockholders for support, twice flew to Switzerland to argue his case with Swiss bankers whose depositors held 20% of B. & O. stock (they backed him). The Central, which...
Next step for the C. & O. will be to ask the Interstate Commerce Commission to permit the exchange of stock to give C. & O. control of the B. & O. Tuohy insists on control as a first step toward merger, since he wants to make some changes in the financial structure of the debt-ridden B. & O., notably alter a clause requiring that a $23 million bond issue be paid up if the B. & O. merges. After that, he intends to push for complete merger of the C. & O. and B. & O., which would create a vast railroad net rivaled only...
...EUROPEAN STOCK MARKETS are losing their bullishness. Value of stock on the Milan Exchange has declined 40% in past four months. Paris Exchange has slipped 10% since its 1960 high last August; London has retreated 12% from record peak. Only West German market is still strong, is expected to finish the year with stocks 29% above 1959. One result of the decline: less U.S. money and gold will go abroad...
...long chase proves that Author Ustinov has not yet mastered the art of creating suspense, but it does give him a chance to do what he does best : hold up national types to clever, cynical scrutiny. His police colonel is cast as a stock Italian official, part scoundrel, part ingratiating humanist, both parts cemented by Machiavellian guile. The head of the German escape ring could be found in Central Casting along with all the lesser characters...