FINANCE Leading Processor
W A L L STREET OF CHEMISTRY
Cuts Kettle 65 TO Tim t^? FROM 45 MINUTES
Dollar volume of Swift & Co. 1949 fiscal year dropped although tonnage volume increased . . . Cities Service Co. to redeem debentures Sales and net earnings of Swift & Co. during the 1949 fiscal year which ended Oct. 2 9 were slightly below last year, the company's annual report has revealed. Total sales were $2,213,160,242 com pared to $2,361,114,041 for last year. The 6.3Ç£ dip in dollar volume resulted from lower market prices of most products handled by t h e company. Total tonnage handled in 1949 was 5.9*7' larger than a year ago. Net earnings in 1949 from all company operations were $25,826,129 compared to $27,889,210 for 1948. Earnings on the average Swift sales dollar amounted to 1.2 cents per dollar of sales. Earnings per share were $4.36. Distribution of the average Swift sales dollar, in 1949 was similar to that of previous years. Producers of livestock, dairy and poultry products, oilseeds, and other raw materials received $1,707,235,012. This represents 77.1 cents out of the average sales dollar. Swift's 75,000 employes received the next largest share. 10.7 cents, or a total of $237,519,974.
with jwn je?*^j*Q Nicholson^-
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Traps
Records of a f*v ; recent larse installation of Nicholson steam traps show they cut processing time 3 0 % . They are keeping equipment f u l l of five steam because: operate on lowest temperature differential; have 2 to 6 times average drainage capacity. 5 types for every proc ess, power, heat purpose/ size VA" to 2 " ; press, to 2 2 5 lbs. BULLETIN 1047
W.H. NICHOLSON & CO. 1 8 6 Oregon Si., Wilkes-Barre, Pa.
Cities Service Redeems G o l d Debentures
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M A S SCO, McCOOLl
Grinds laboratory samples to ISO m e s h in o n e p&js. Gyratory action insures long d i s c life. G r e a s e c a n n o t contaminate samples. Easy, positive, self-locking adjust* ment; anti-friction bearings; chamber housing, rotating and fixed discs a l w a y s aligned. Quiet — no gears, no vibration. Only 2 HP re quired. S e n d for illustrated Booklet.
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: 128
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T h e hoard of directors of Cities Service Co. has authorized the redemption of all outstanding Cities Service Co. 5% gold debentures, aggregating $41,569,700 in principal amount. T h e debentures are due in 1958, 1963, 1966, and 1969. Privilege of immediate payment was extended to all holders beginning Jan. 3, 1950. Funds for the payment of the debentures will b e derived from proceeds of the sale by Cities Service Co. of its remaining stock of the Ohio Public Service Co. in the sum of $35 million plus a loan of $6.6 million from the First National Bank of N e w York and J. P. Morgan and Co., Inc. T h e board of directors of Hercules Powder Co. has declared a regular quarterly dividend of $1.25 a share on its preferred stock, payable Feb. 15 to stockholders of record Feb. 3 . Standard Oil Co. of Ohio has declared a 93.75-cent dividend on their 3.75% preferred stock payable on Jan. 13 to stockholders of Dec. 2 3 . A 37.5-cent dividend on the common stock was paid b y Merck & Co., Inc., along with 87.5 cents on the $3.50 preferred and $1.00 on the $4.00 preferred on Jan. 3 to stockholders of Dec. 12. Nopco Chemical Co. paid a year e n d dividend of 70 cents to stockholders of Dec. 6 on Dec. 15. Stockholders of Dec. 2 of Union Carbide & Carbon Corp. were paid a 50-cent dividend o n Jan. 3 .
CHEMICAL
Houston Oil Co. of Texas paid an extra dividend o f 50 cents and a quarterly dividend of 50 cents on Doc. 2 8 to stockholders o f Dec. 9. Koppers Co., Inc., has paid a dividend of 50 cents on common stock and $1.00 on the 4c/t preferred. Both dividends were paid on Jan. 3 to stockholders of Dec. 12. Atlas Powder Co. paid a $1.00 dividend on Dec. 10 to stockholders of Nov. 28. A year-end dividend of $1.50 was paid to Du Pont C o / s stockholders on Dec. 14. Standard Oil of Kentucky paid an extra dividend of 60 cents and a quarterly dividend of 5 0 cents to stockholders of Nov. 30 on D e c . 10. An additional dividend of 50 cents and a quarterly dividend of 7 5 cents was paid on Texas Gulf Sulphur C o . stocks of record date Nov. 2 8 on Dec. 15. This brings the 1949 total to $5.00. Davison Chemical Corp. paid a quarterly dividend of 37.5 cents o n Dec. 31 to stockholders of Dec. 9 . International Minerals & Chemical Corp. paid quarterly dividends of 50 cents on the common and $1.00 o n the preferred t o stockholders of D e c . 9 on Dec. 3 0 . Mathieson Chemical Corp. paid a 62.5ccnt dividend o n the common and a quarterly dividend of $1.75 on the preferred on Dec. 23 to stockholders of record Dec. 1. Chas. Pfizer & Co., Inc., has paid an extra dividend of 75 cents and a quarterly dividend on t h e common stock of Nov. 2 5 of 5 0 cents. Both dividends were paid on Dec. 8. O n Dec. 30 a quarterly dividend of 87.5 cents was paid o n the preferred stock of record D e c . 15. Earnings for the nine months ended Sept. 30 were $6,184,524 or $4.09 a common share as compared to the $7,402,889 or $4.91 earned in the similar 1948 period. Pennsylvania Salt Mfg. Co., paid a year-end dividend of 90 cents on D e c . 15 to common stockholders of record Nov. 30. Visking Corp. paid a 50-cent quarterly dividend on Dec. 15 t o stockholders of record Dec. 5 . Sept. 3 0 quarterly earnings reported by the company amounted to $721,778 or $1.22 per common share as compared to 1948's $596,662 or $1.00 per common share for the same period. Earnings o f $3,804,000 for the Sept. 3 0 quarter and $11,486,000 for the nine months ending Sept. 30 were reported by the American Viscose Corp. This amounted to $1.72 and $5.19 per share for t h e respective periods. Earnings in 1948 were $8,504,298 or $4.01 share and $24,132,822 or $11.36 for similar periods. (Continued on page 139)
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ENGINEERING
NEWS
