SHIPBUILDING: Rise of Consolidated

California's Consolidated Steel Corp. Ltd. this week flopped the frigate U.S.S. San Pedro into the Pacific Ocean, wrote down a fat new total of ship launchings —268. With satisfaction the 40,000 Consolidated employes (up from 800 in 1938) went to work to add a white star to their blue Maritime Commission "M" flag.

With equal satisfaction Consolidated stockholders fingered the latest financial report of young (42), blond Alden Gallup Roach, harddriving, quick-thinking Consolidated president. In the six months ending last February, the 241,617 shares of common stock earned $2.81 apiece (in 1935...

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