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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (May 19, 1958)
Utile Improvement Iniecond Quarter Corporation Profits By ELMER C. WALZER United Press Financial Editor New York (IP) Noting that the recession probably is bot toming out, Standard & Poor's sees little promise for over-all improvement in corporation earnings in the second quar ter. It is conceivable that earn ings comparisons might begin to improve in the third quar ter, but Standard notes that hopes center chiefly on the closing months of the year. "By that time " it says, "the economy might be show ing the first signs of revival nothing pronounced but rep resenting some progress from current levels. Moreover, profits will be measured against the sliding 'results of the fourth quarter of 1957. On the latter basis alone, year to year comparisons should become less unfavorable." It could well be, the statis tical agency adds, that the de cline of some 31 per cent in the total corporate profits for the first quarter might be trimmed to a decrease of 15 per cent to 20 per cent for the full year. Important Dividends But it adds this sour note: "On a historical basis, 1958 is likely to be the poorest year since 1952." Apparently Wall st. is less concerned over earnings than it is over dividends. The street continues to bring out the tabulation on dividends paid in the first quarter by companies listed on the New York Stock Ex change. This dividend payout to taled $2,179,860,580, a first quarter record, and an in crease of $43,369,950 or 2 per cent over the total cash divi dends paid by the same com panies in the first quarter of last year. For all corporations, the Department of Commerce re ported that the dividend pay out for the first quarter in creased by one-half of 1 per cent. Any increase at all con sidered highly important. It reflects some influence of the recession, however, since com panies are spending less on plant expansion and paying stockholders a greater per centage of their income. Decline in Earnings Dividend news in recent stock market sessions has been more influential in swaying stock prices of indi vidual shares than have earn ings reports. In many in stances declaration of the usual dividend on a stock whose company has reported poor earnings has sent its price up sharply. The street, of course, is in terested in earnings but it considers the over-all totals with only academic interest for the purposes of record. That is the analysis when div idends are retained. Standard & Poors first quarter calculation showed 662 industrial companies had an aggregate decline in earn ings of 36.1 per cent. When a group of utilities was- add ed, however, this percentage decline for all the companies was cut to 30.5 per cent. Three out of four groups suffered decreases in the cal culation. Declines of 50 per cent or more appeared in au tomobile, auto part, metal fabricating, carpet, oil well equipment, rail, steel, textile and apparel industries. Increases centered on such lines as utilities, food, drugs, confectionery, grocery chains, soaps, tobacco products and finance companies. MAIL TRIBUNE, Medford, Oregon, Monday, May 19, IMS 3 Visiting Reporter Employed of Paper A visiting reporter from Bend, Ha S. Grant, , today began a two-week association with The Mail Tribune. Mrs. Grant will cover -the city hall and special assignments dur ing her stay here. She is a member of the staff' at The Bend Bulletin. "I am happy to have an op portunity to spend time in Medfofd and get acquainted with newspaper people here," Mrs.' Grant said. "I have al ways enjoyed southern Ore gon on visits fer the Shake spearian festival, and it's a real pleasure to be here." Baker Air Field Work Bids Opened , Seattle (IP) McCormack Construction c o m p any of Pendleton is the apparent low bidder for construction of re ceiver and transmitter build ings at the Baker air station, Army Engineers said today. The McCormack bid . was $47,110. "I Never NEVER Have ANTS In My House" "Sprinkle it freely in my Jam Closet so safe no worry of poisoning'" lays Danville. Calif, lady. BU II AC II California' Groat Insoct Powder Safo lasy To Uso Itonomleol SPECQAL OFF! THIS WEEK' 0 ers SLY featuring KROEHLER Cushionized Furniture CHOOSE FROM OUR ENTIRE STOCK O LARGEST SELECTION IN SOUTHERN OREGON. UP TO 24 MONTHS TO PAY Plus . . . mm Exactly as shown. Select any suite or sectional from our stock, regardless of price, and we'll give you this comfortable Kroehler Swivel chair worth $59.50. EASY BUDGET TERMS ?22o DOWN M500 PER MONTH Rugged construction with a modem flair design. Slant arm for additional com fort . . . nylon frieze for long wear and easy cleaning. 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