FINANCE
WALL STREET OF CHEMISTRY Pittsburgh Coke & Chemical's net sales for the first half of 1953 were up 4 2 % . . . Neglecting effect of 1952 steel strike this would be a 2 1 % gain "PITTSBURGH Coke & Chemical Co.'s net •*· sales for the first half of 1953 amounted to $28,135,000, which is an increase of 42% over the volume a year ago, the last month of which was seriously affected by the nationwide steel strike. Pretax income amounted to $3,589,000 which was a realization of about 1 3 % on the sales reported. Sales for the first 5 months of 1953 as compared with the 5 months in 1952 (compared to exclude the effect of the steel strike) showed an improvement of 21%.
Cenco Sets Anniaal Sales Record N e t sales of Cenco Corp. and its two wholly owned subsidiaries, Central Scientific Co., Chicago, a n d t h e Refinery Supply Co., Tulsa, Okla., set an alltime record for t h e fiscal year ended April 30, according to the company's annual statement. According to the report, net sales of the company were $12,014,825, t h e highest in the company's history. N e t sales for the previous year were $11,946,678. Net income for the 1953 fiscal year totaled $344,019 and was equivalent to 3 5 cents per share o n t h e 980,956 shares of common stock outstanding. This compares with net income of $429,687, or 44 cents per share a year ago.
Heyden's N e t Sales Reach $12 Million H e y d e n Chemical Corp/s net sales in the first half of 1953 were $12,747,242 as compared with $10,662,397 in the corresponding period of 1952. Net income before taxes in the first half of 1953 was $1,742,077 as compared with $1,400,164 in the like period of 1952. After d e d u c t i n g taxes of $957,844, net income was $784,233 for t h e first half of 1953, as compared with taxes of $763,359 a n d net income of $636,805 in the first six months of 1952.
U. S. Steel Semiannual Income Up $40 Million Income for t h e second quarter of 1953 was reported b y U. S. Steel as $55,640,806, or a return of 5.6% on sales. Income for the first six months of 1953 is reported as $105,016,764, or a return of 5 . 5 % on sales. This compares with income of $65,753,134, o r a return of 4 . 5 % o n sales, reported for t h e first six months of 1952, which period was materially affected by
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the steel strike which, b e g a n J u n e 2, 1952, and other work stoppages. Shipments of steel products in the second quarter of 1953 a m o u n t e d t o 6,337,604 net tons. Shipments for t h e first six months of the year t o t a l e d 12,946,203 net tons, w h i c h represents an all-time record for any such period.
General Mills Earnings Up $2 Million in Pest Year General Mills has reported an increase in net earnings to $11,468,171 for the year e n d e d M a y 31, compared with $9,549,466 t h e previous year. Sales reached an all-time high of $483,067,000 as did payments for wages, salaries and retirement benefits a t $62,233,000. A sidelight o f the report was t h e story of General Mills' diversification. Flour accounted for 529
