December 10, 1941
NEWS
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E D I T I O N
1433
AIR INS7ANTLY
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Write for Bulletin No. 2 44 8-D.
ILLINOIS T E S T I N G LABORATORIES, I N C .
BlSIiBllgaimKi^i^^!S»^^ifWi December Journal of Physical Chemistry
429 N . LaSalle St.
Chicago, I I I .
THE WALL STREET Of
1 H E December issue of The Journal of Physical Chemistry contains t h e following articles a n d reviews of new books:
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E. D . PARSONS, H . H . CUDD, AND H . L .
LOCHTE. Synthetic Corrosion Pits and the Analysis of Their Contents. C.
BURKE
M I L E S AND H E R S C H E L
Heats of Combustion. bustion of Acetone.
HUNT.
I. Heat of Com
S. W E L L E R AND J . FRANCK.
Photosynthesis
in Flashing Light. RALPH E . MONTONNA AND L. T . J I L K .
The
Action of Light on Cellulose V I . A Method for t h e Measurement of the Os motic Pressure of Colloidal Solutions. F. W. BERNHART. The Effects of Heat on Dry Proteins. I. The Kinetics of the Formation of Insoluble Egg Albumin. W. G. EVERSOLE, G. H . WAGNER, AND G. C .
BAILEY Surface Tension, Liquid Den sity, and Vapor Density of Sulfur Dioxide Solutions of Potassium Thiocyanate a t 10°. 15°, 20°, and 25° C. W. G. EVERSOLE, J. DONALD PETERSON, AND
H. M . KINDSVATER. Diffusion Coeffi cients in Solution. An Improved Method for Calculating D as a Function of Concen tration. CHARLES J. PLANK AND H E R S C H E L H U N T .
Rate of Inversion of Sucrose as a Func tion of Dielectric Constant of the Solvent. -S^yS-
T H E Premier Mill Corp., announces t h a t its Chicago office is now located a t 332 South Michigan Ave., where F . T . Greaves and H . W . M u n d a y are established.
T h e Abbott Laboratories a r e consider ing a plan for t h e issuance of 30,000 shares of authorized b u t unissued preferred stock and possible retirement of t h e present 12,922 shares of 4.5 per cent preferred outstanding. T h e proposed new issue would be a nonconvertible 4 per cent, SI00 par value. If p u t into effect, t h e plan would make available additional working capital to provide expansion occasioned by a n increase in sales about 25 p e r cent ahead of 1940. During t h e nine months ended Septem ber 30, n e t profit was Sl,814,901 after charges a n d provision of §1,418,900 for federal income a n d excess profits taxes. This is equal t o $2.34 a share on common and compares with net profit of §1,815,192 or $2.34 a share in the first nine months of 1940, after provision of $772,763 for taxes. Aggressive development of t h e m a r k e t in Latin America has proved a factor i n the growth of t h e company. A new plant has been opened in Mexico City, and sales branches are maintained in t h e principal South American centers. T h e Canadian headquarters in Montreal have recently been enlarged. Directors of M e r c k & Co., I n c . , sub mitted to stockholders a proposal t o issue
dates
For the first nine m o n t h s of 1941 orders booked by the Westinghouse Electric & Manufacturing Co. reached a record high of $450,242,292, a 7 2 p e r cent increase over the corresponding period of 1940. Provision for federal normal t a x a n d ex cess profits tax came t o $29,442,045, a 356 per cent increase over t h e 1941 figure. Net income for the first nine m o n t h s of 1941 amounted to $15,860,252, a gain of 9 per cent over 1940. E m p l o y m e n t is a t an all-time peak. T h e company plans to use money from the sale of additional stock t o p a y off $21,000,000 borrowed for working capital and to add the balance to the cash surplus.
BSaiela M3XEIIS For Chemicals and Food
IMPORTANT Publication a n d closing N e w s Edition
and sell an additional $5,369,000 of 4.5 per cent cumulative preferred stock in a re capitalization plan outlined November 12. The sale of preferred stock will provide additional working capital for t h e con tinued expansion in operations and enable the company t o p a y off existing bank loans. A special meeting of t h e stock holders was held December 3 t o vote on the plan, as well as o n t h e proposal t o re duce the dividend o n present preferred stock from 6 t o 5.25 per cent a n d raise t h e call price of this stock from $115 t o $120 a share for a period of three years.
o i the §
Issue οί the 10th closes— 25th of preceding month S Issue of the 25th closes— 10th of the month
Specially Designed Double Spiral AGITATORS WET—DRY or LIQUID MA TERIALS Constructed rigidly For continuous operation — Efïective power transmission arrangement, together with massive bearing supports a n d foundation. Stainless Steel, Monel Metal and non-corrosive Linings on specification. Built from SO-ib. Batch to 4-ton Batch Capacities Write for B u l l e t i n "SUCCESS"
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ICRUSHÊPS'PULyERIZEHS'CniHPEPSf
' Established in 1 8 8 5 '
GRUENDLER CRUSHER and PULVERIZER CO. 2921-23 N . Market S t . St. Louis» M o .
NEWS
1434
Vol. 19, No. 23
EDITION
Plant Executives Gather at Monsanto Conference P l a n t managers and operations e x e c u t i v e s of the M o n s a n t o C h e m ical C o . gathered a t t h e c o m p a n y ' s Central R e s e a r c h D e p a r t m e n t , D a y t o n , Ohio, for a t w o - d a y conference in N o v e m b e r . Pic-
Synthetic Magnesite Plant /"CONSTRUCTION work for the new plant ^ of the Northwest Magnesite Co. is actively under way a t Cape May Point, N. J. T h e company, jointly owned by the Harbison-Walker Refractories Co. and General Refractories Co., has acquired the rights in t h e United States t o the Chesny process of producing synthetic magnesite for refractory purposes. T h e process has been applied in England on a large scale and has rendered that country independent of imported magnesite of natural origin, formerly obtained from Austria and Manchuria. To operate the Chesny process, the company has acquired a large tract a t Cape May Point, together with extensive deposits of dolomite rock in eastern Pennsylvania, located conveniently for shipment either by rail or by rail and water. T h e capacity of the first unit will be approximately 40,000 Aic*i tons per annum. T h e layout, however, is such that additional units may be added as necessity requires.
from
tured a b o v e is Jay C . Harris describing the work t h a t is b e ing done in his laboratory t o Herbert J. Krase, A . T . Beauregard, E . A . O'Neal, F . N . Williams, L. K. Cowie, H . F . W e a v e r .
Owens-Corning Fïberglas Marks Third Anniversary
This process, protected by United States a n d foreign patents, consists essentially in replacing t h e lime content of calcined dolomite rock by magnesia through reaction with sea water. I t s commercial success is t h e result mainly of specialized knowledge of the involved crystallography of magnesium hydrate. This compound in its usual form is a gelatinous substance exceedingly difficult to filter. Only by t h e application of a highly specialized technique can i t be produced in a crystalline, readily filterable state a n d easily separable from sea water and the salts dissolved in it. T h e Office of Production Management has granted priorities to permit t h e completion of the plant within six months. During the late fall of 1939, t h e Northwest Magnesite Co. materially increased the capacity of its plant a t Chewelah, Wash. Still further facilities, including a system of concentration by flotation, have been under way for several months, and have nearly doubled t h e capacity prior to 1939.
our own laboratories
| ^ Λ Ν NOVEMBER 1, 1938, following seven ^^^ years of collaborative research and development activity by the Owens-Il linois Glass Co. and t h e Corning Glass Works, t h e Owens-Corning Fiberglas Corp. was organized. Celebrating its third anniversary, the company has issued an attractive brochure, discussing t h e progress t h a t has been made, and reprint ing interesting advertisements t h a t sig nalized its achievements during t h e period, and the varied applications of its products. Robert J. Howison h a s been appointed sales manager of t h e Automotive Divi sion, Morse Chain Co., Detroit, Mich. John J. Perkins, for t h e past year an in structor in biochemistry a t t h e Army Medical School, h a s accepted a posi tion as research chemist with the White Laboratories, Inc., Newark, N . J.
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