DOW-JONES AVERAGE will add four companies (Anaconda, Swift, Owens-Illinois Glass, and Alcoa) to industrial index, drop four (American Smelting & Refining, Corn Products, National Steel, and National Distillers & Chemical) to broaden number of industries represented among 30 stocks that comprise list.
CORPORATE PENSION FUNDS rose $2.8 billion last year to record $22.1 billion. Companies added $1.2 billion in common stocks to portfolios, raised amount of funds in common stocks to 39%, v. 30% in 1957.
RENEGOTIATION ACT giving government right to recapture excess profits from defense contractors was extended four years by House, is virtually certain of Senate approval. U.S. now nets...
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