FINANCE INDEX OF STOCK MARKET f^HlCES NONFERROUS 245
IV!ETALS
MINERALS
& FERTI
ÎlZER^
245 •
•
225-
225
205-
205 ·
-185 ·
185 •
V*
'VAVWIVI
165
1-45 •
JAN
1st Q t r ( 1 9 5 5 )
5-1 OFENiNG PRICES EQUAL 100
2 n d Qtr
3rd Qtr
4 t h Qtr.
145 •
1st Qtr. ( 1 9 5 5 )
JAN '54 OPENING PRICES EQUAL 100
2 n d Qtr
3 r d Qtr.
4th Qtr.
This break is accountable mostly on the week's psychological news and r e flects how even the least sign of worry can cause premium stocks to flutter. Nonferrous metals show greater decline than other Many of the companies included in t h e chemical indexes in week after Eisenhower's illness index were featured in t h e news as showing better profit and dividend pictures than ever before. Others a n would continue t o be implemented a n d nounced expansion of existing plants JL w o DISTINCX TRENDS were noticeable last week as t h e market dropped on the the progressive recovery of Eisenhower and facilities to keep pace with the curhimself. whole. First i s the Tuesday flurry by rent industrial boom, which, to all presa number of investors to cash in on The delicacy of this market recovery, ent appearances, is still continuing to "bargains" that had been going the however, was amply borne out on t h e boom. day before. Many of these investors following Monday opening. Over t h e While the minerals and fertilizers inhad sold out o n Monday with the news weekend came reports the President dex did drop, its decline w a s nothing of Eisenhower's illness. Total effect had suffered a mild setback. Monday's like that of the general market or nonwas to recoup almost half of the marmarket again broke and wiped out most ferrous metals. There is probably a ket worth that had been lost in the of the gains which h a d been made over two-fold reason for this. I n the first Monday rush. the previous Monday's decline. "Bar- place, this selected list has been reactSecond trend is that a number of in- gains" were no longer bargains. ing only slightly to tjie market trend all vestors have remained cautious. This At the market's close last Friday, t h e year. Strikes plus a poor year for agrihas led to a mixed market on t h e re- nonferrous metals index showed what cultural chemicals has kept the index maining days of the week as investors is probably the biggest break on all of relatively low. In fact, it might be said watched a n d waited for word on proC&EN's chemical indexes. While most generally that current prices for such gress of the President's recovery. Come of the other indexes had regained some stocks at this time represent investors' positive stimulus was noticeable both of their drop o n t h e Monday break, close appraisal of an individual comfrom the word of other administration nonferrous metals remained 1 5 points pany's book value in cold cash. Little, leaders that the President's policies below average of the previous week. if any, stock premium would be ac-
Stock Market Seesaws on Health Tips
433S
C&EN
OCT.
10,
«95 5
Companies that make up C&EN's stock price indexes MINERALS AND FERTSUISE F!£MS
American Agricultural Chemical Freeport Sulphur International Minerals & Chemical International Salt Jefferson Lake Sulphur Tennessee Corp. Texas Gulf Sulphur Virginia—Carolina Chemical NONFERROUS
METALS FIRMS
Aluminum Co. of America American Metal American Smelting & Refining Anaconda Climax Molybdenum Consolidated Mining & Smelling Eagle Picher International Nickel Kaiser Aluminum & Chemical Kennecott Copper National Lead New Jersey Zinc Phelps Dodge Reynolds Metals St. Joseph Lead
countable to hopes of a better proStThe second contributing factor to t l i e minerals and fertilizers index's small d e cline is the fact that companies on t i i e index are extractive industries for tfie most part. As a result, they are b a s i c suppliers whose products will a l w a y s b e in demand to a great extent n o matter what the economic climatre. Thus, in the minds of many investors, the stocks are impervious to marlcet whims.
• Kaiser
Aluminum
and
Chemicol
earnings were up $3.5 million in i t s first fiscal quarter ending Aug. 3*1, 1955. Kaiser n o longer has preferred shares outstanding as o f the same d a t e . As a result, earnings this quarter n o w equal 61 cents p e r share on 14.6 million shares of common stock as against la-st year's 35 cents per share on 13.9 m i l lion shares of common. • Hercules Powder has declared a regular quarterly dividend of 1.25%, equal to $1.25 per share, on its p r e ferred stock, payable Nov. 15 to stockholders of record Nov. 1. • Parke-Davis h a s declared a d i v i d e n d of 35 cents a share payable Oct. 3 1 . This is the company's 272nd c o n s e c u tive payment since 1878. This p a y ment makes t h e company's d i v i d e o d total for the year $1.40, the same ^ s last year. Net earnings in the first haJf of 1955 totaled $6.3 million againust ^4.5 million in the same "^eriod la_st year.
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Arizona ( I N C O R P O R A T E D )
3 0 Rockefeller PJaza, New York 2 0 , Ν. Υ.
World's largest supplier of chemicals based on tall oil
