Business: Profits & Effects

Amidst the third-quarter earnings reports and stock-split announcements last week there was a standout: Westinghouse Electric Corp. With the company's nine months' earnings soaring ($3.17 per share v. $2.79 in 1958) on only slightly higher sales than last year, its directors recommended a two-for-one stock split, boosted the annual dividend rate from $2 to $2.40. For Westinghouse, the nation's oldest (73 years) and second largest electrical equipment maker (first: General Electric), the split climaxed a three-year drive to reorganize the company and recover from a crippling five-month 1955-56 strike.

Credited with Westinghouse's climb...

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