FINANCE Stock M a r k e t Record This Summer
Allied Chemical American Cyanamid Commercial Solvents Diamond Alkali Dow
June 30 119*/ 4 59*/, 22V 4 447/s 573/4 229»/ 229s/4 120V 4 il2V4
Price High for 1955 122 3 / 4
Du Pont Hercules Powder Minnesota Mining · 48 Monsanto" Nopco 335V» 5lA 57 Olin Mathieson Pennsalt 51V4 467/s Stauffer 102 Union Carbide 34 Victor Chemical " Adjusted for 3-for-1 stock split split 3-for-1 stock
63
26»/ 4 453/4 58V8 2493/4 129Vo 115
52*/ 8 383/ 4 64V8 W W
6G 3 / 4 102 8 / 4 37V8
iîecenf Recent Level 106
561/, ΛΛ.1
/
7c (change from from June 30 1955 High -11
—5 —9
40
-11
51 1 /.,
— 11 - 5 -h 4 4-
218 125 101 42
32V2 5 7 1V/ . 48
5S11Jo 58 /*
98
β /. SIΐ11/ο
-10 -12
- 8 -h 1 —6 +25
- 4 —7
-14 -10 -23 -13 -13 -13
-
3
-12 -20 -16 -11
-
9 4 4
-17
Summer Slump on W e l l Street Chemical shares, hit by August doldrums in stock market, have shown a general decline from year's high Minnesota Mining and Mfg. is an other stock that rumors have suggested not in past years the summer months as a candidate for splitting in recent months. With no action materializing, have been marked by a market rally. however, higher earnings have not kept This year, however, the strong push in prices during late May and June it from edging downward since its high of 115 early last month. topped out early, and the dog days of For Monsanto, even positive action August have shown the market usually hasn't provided more than a temporary on the downside. Daily trading, too, has shrunk in volume to the lowest lift. A three-for-one split authorized levels of the year. A tightened money early in July stimulated a quick spurt situation seems to h a v e outweighed fine upward for the stock. But now that earnings reports and other good news split is a reality, the upturn has since been reversed. in investors' decisions. A rundown of 15 representative Chemical shares have been no ex ception. Despite a rash of companies stocks shows how chemical shares have reporting record first-half income and fared since the end of Tune. The a goodly number of dividend boosts, majority were down in July; only one either declared or seemingly in the in five could boast a higher price at offing before the end of the year, mid-August. Some two thirds of the chemicals have slipped off in recent stocks -were off more than 10% from weeks—often when good news did not their highs for the year. live up to investors* greater expecta The current reaction may be only a tions. brief interlude in the great bull market Considerable interest centered on of the past two years. Opinion is di But lately, at least, a waitD u Pont's board meeting Aug. 15. vided. With D u Pont stock selling at record and-see attitude seems t o be upper most while the market makes up its levels well above 200 and first-half earnings totaling $3.98 per share, a mind which way to bounce next. stock split seemed a good prospect. N o split was forthcoming, however, a n d although the directors raised the t Molybdenum Corp. plans to split interim dividend on Du Pont common common stock two-for-one. Stock to $1.50, up 2 5 cents from the previous holders will be asked to increase au payment, the stock slid off 5 points in thorized shares from 750,000 to 2,500,t h e next two days. 00O at a meeting Sept. 15. Company
USUALLY is a bullish time for S UMMER the stock market. More often than
3628
also plans to sell 50,000 shares of com mon stock to Kennecott Copper. Kennecott and Molybdenum recently an nounced plans to jointly develop a large columbium-tantalirm deposit near Mon treal, Que., with Kennecott having an option to acquire 5 1 % interest in Molybdenum's rights in the property. • Harshaw Chemical will ask stock holders to approve a proposed two-forone common stock split at its next an nual meeting, to b e held next January. Shareholders will be asked to increase authorized capital stock to 1,500,000 shares from 600,000 shares at present. Company also plans to apply for listing of its stock, now traded in the overthe-counter market, on New York Stock Exchange. • Fansteel Metallurgical^ net profit for the first half of 1955 climbed to $1.2 million, up sharply from the $374,000 earned in the like period of last year. N e t sales also were higher, totaled $13.5 million for the first six months of this year against $11.0 mil lion for 1954 through June. • Chemical stocks are popular invest ments with N e w York mutual savings banks. At the end of June, the second most valuable block of common stock held by the fund through which 6 9 New York State savings banks invest jointly in common stocks consisted of $505,450 worth of D u Pont shares. Holdings in Eastman Kodak were close behind D u Pont in market value. United Carbon, Union Carbide, and Hercules Powder were also high on the list. • American Research & Development Corp., which specializes in providing venture capital for new enterprises working on the commercial application of technical developments, reports a sharp rise in its net asset value during the first half of the year. According to the company, its 300,000 shares had a value of $44.76 each on June 3 0 , compared with $36.66 at the end of last year. Biggest gains were made by investments i n Ionics, Inc., High Volt age Engineering, Airborne Instruments Laboratory, and Tracerlab. • Procter & Gamble, in reporting rec ord sales of $966 million and earnings of over $57 million for its fiscal year ending June 30, cites role of research and success of new products in boost ing sales in face of keen competitive conditions. The company says it is now getting benefits of its research and development program of the past few years, and that volume of overseas business is growing.
CHEMICAL
AND
ENGINEERING
NEWS
chemicals exchange ETHYLENE (koWng
IMINE
one of the many special chemicals we manufacture Write for complete listings
and T r i e t h y i e n e M e l a m i n e now available in semi-commercial quantities
driertie
C!TY C H E M I C A L C O R P .
QueiuiiDiin CORPORATION Laurel, Maryland
1 3 2 W . 2 2 n d St.
N e w York 1 1 , Ν .
** S Τ f .1
ômpcma
FORMAMIDINE
I I F I I
I » I 11 : I I . I I 1 . #: \ ι -. V -^ \ •» - \ "»*/»
Efficient—Dries all organic liquids in stantly in liquid or vapor phase. Gases retain only O.OOS mg. H2O per liter. Versatile—An all-purpose desiccant. ΝΓοη-Wettixig—Does not become wet on saturation, nor: crystallize to walls of tubes, towers or- desiccators. Neutral—Dries without reacting with either acid or alkaline materials. Inert—Except lo-ward water. Does not de compose, polymerize, or catalyze organic substances by contact. Insoluble in or ganic liquide, Regenerative—-Repeatedly after any nor mal use, by deHydxation at 235 to 250° C. Economical—Lowest priced high grade desiccant. Available in quantity for Industrial Processes. G r a n u l e Sizes: 2 , 4, 6, 8, 10-20 and minus 20 mesh.
RESEARCH LABS.
P. O. Box 4699
III
S"»$S3Svo-scinDn-sflnos-s3SvosQinons4no "The Versatile Desiccant"
Υ.
For Drying SOLIDS—LIQUIDS- -GASES
N1NHYDRIN SOUTHEAST
lfDS-UQUIDS-CA$ES-S0HDS-LIQUiDS'OASE$-SOUD| SOLIDS-
POTASSIUM FLUOSTANNATE
range £5° to 57° C)
Miami 41. Florida
mmmmi
b0ttR dS10 Ν ^ÎFÏΟ0 F^ C ÉM ÉI4ÎSÎ
offer complete resistance to both ocids ond alkalies in steel mills, chemical plants ond ι processing industries. Send blue-prints or 1 sketches, so we may recommend proper f cement to use. Write for latest catolog TRIAL ORDER FOR ACID AND· ALKALI USERS H a n d y q u a r t cans f o r making com- $ " 2 ^ S O p a r a t i v e tests — 8 differeni cements. Jf
•
A m m o n i u m M o l y b d a t e , Reagent, A.C.S.
•
M o l y b d e n u m Trioxide (acid anhydride) A.C.S., powder
•
Molybdic Acid, 8 5 % , A.C.S., powder
•
S o d i u m M o l y b d a t e , r e a g e n t , crystalline
molybdic
•
Potassium M o l y b d a t e , C.P., anhydrous
•
S o d i u m P h o s p h o m o l y b d a t e , C.P.
Write
for littérature
and
quotations
W. A. Hammond Drierite Company 120 Dayton A v e n u e , Xenia, Ohio
^SàuerJeisèn Cements Company£*£ Pi|tsburgh;-i S r f a ^
equipment
mart
(See Used Equipment For Sale or Wanted, Page 3639) Lowest Prices —biggest selection on the market welded construction equals New seamless or spun — entirely stainless (no solder) — s m o o t h surfaces — sturdy 24 gauge type 304 analysis — improved shape for easier carrying, better balance. Backed by Metalsmith's 30-year reputation. SEND YOUR ORDER TODAY!
10 12 14 16 20 24
1
Q U A R T - -$ 9.25 e a . QUART— - 10.25 e a . Q U A R T - - 11.25 e a . QUART— - 12.25 e a . Q U A R T - - 13.50 e a . QUART— - 17.50 e a . Discounts in Quantityr
567 White Street
Of ong·, N, J.
•...perfecf
M
^ **
priceé at far less than reproduction cost/ Ideal for ch«mic*ls, g«s«s, pneumatic use, hydra»ulia end liquids. H I G H PRESSURE TANKS, 5Ο0 PSI (X' pipe threads each end) .1WJ 12"x24* stainlesi ste«l, has welded standup base for r i n c n ' " easy Riling and dnlnins· Wt. 20 lb JI3.3U G*l Same as above, lus base. Wt. 19 lb 516.50 fl-2 6'x24' magnetic type:. Stainless steel, Wt. 6 lbs J 8^5 .J 5K"x8* Stainless ited, K ' p i p * opening one COOK * end. Wt.lMlbi } 3.93 EXTRA H I G H PRESSURE, 3OOO PSI U.I 2'x9î^' Heavy Carbon Steel, 3^' port. Equipped with 11 ' stainless steel shut-oH valve and 0-3000 PSI pressure r c cn gauge. Wt. 8 Ibi > 3.»HJ .9 3 J^'x"!0'Heavy carbon steel. M ' p i p * thread port, ( l i e L Wt.Blbs J 4.13 η Same ai H-2 but 4'x24* heavy c wbon steel, 14' t C 7C
G
A
YOUR ANNOUNCEMENT of New Equipment for Sale a n d / or W a n t e d c a n carry YOUR MESSAGE to the readers of the leading publication in the chemical process industries. Rates on request. CHEMICAL & ENGINEERING NEWS Advertising Office 4 3 0 Park A v e n u e N e w Y o r k 2 2 , N . V.
VOLUME
3 3.
NO.
35
·
·
H Ε
'L pipe thread opening. Wt. 10 lbs j Ό.Ι* Send Purchase Ordtr. Terms: 2 % 1 0 days, 3 0 days net. A . C. T A N K C O . , D o p * . 102, P . O . B o x 3 8 9 BURLIMGTOM, W I S · Phone 1 2 8 9 speed u p repairs, prevent costly
errors
PYPE IDENTIFICATION SYSTEM
Permanent vlnyllte labels snap around pipes for positive Identification. Custom made to fit jour needs: any color, wording, size. Eliminates costly scrapincr, cleaning & protective coatings. Hi-corrosive resistance. Write fo»· labo- saving details. WILMINGTON PLASTICS CO. 8 1 0 E S . H e a l d St., Box 365, W i l m i n g t o n 99, Del. AUGUST
2 9,
1955
TÂUK'METÎR FOR MEASURING TANK CONTENTS ANY DISTANCE AWAD
INSTRUMENT CO. * 4 8 3 GETTY AVENUE · PATERSON, N.J.
SEND fO* BULUT1N 945
3029
^l^^i^^^mÊaÊ^^^ÊÊ^^Smssm
technical services CLARK MICROANALYTICAL LABORATORY Routine analyses in one week C H , N , S, Halogen, Fluorine, Oxygen, Alkoxyl, Alkifiiide, Acetyj, Terminal Methyl, etc., by special ists in organic microchemical analysis. Howard S. Clark, Director P. O . Box 17 Urbane, Illinois
SCHWARZKOPF MICROANALyTICAL LABORATORY Routine AnalysisWithin One Week C H , F, O , N , S, P, Si, H a l o g e n s , Group Analyses Molecular Weight a n d Others
56-19 37 A v e . , Woodside 77, N. V. TELEPHONE HAvemeyer g l U I I
LIQUID CHEMICAL BARGES FOR CHARTER We
will h a v e
barges constructed
' « S S T f LABORATORY SERVICES1 S£5£â5S! s project research and consultation in I i FOUNDATIONj B i o c / , e m i r f r > v Chemistry, Bacteriology ] and Insecticide Testing and Screening M i n e r a l determinations including sodturn a n d fluorirfe · P r o x i m a t e analyses • Vitamin a n d a m i n o a c i d assays * Food chemistry a n d microbiology · Enzyme investigations
WISCONSIN ALUMNI RESEARCH FOUNDATION
Write for price schedule i P. O . BOX 2059-E
·
MADISON 1 , W I S .
for
your special requirements which you m a y charter a t reasonable rates.
8-in. or 5-in. sieves. B e c a u s e the shaker a c c o m m o d a t e s u p t o six sieves^ plus cover a n d b o t t o m p a n , i t is p o s sible to separate a m i x t u r e , b y p a r t i c l e size, into six c o m p o n e n t s i n o n e o p e r a tion, a c c o r d i n g to c o m p a n y . Ell
NATIONAL BARGE COMPANY 3 1 6 Fourth A v e . , Pittsburgh 2 2 , Penna. Member: American
Waterways
Operator a Assn.
LaWali & Harrisson
food research laboratory
Ot* H. 1921 Walnut S t . Philadelphia 3. Pa
EQUIPMENT {Continued
from page
3618)
p a n y says a 9 5 % response is obtained in less than o n e minute. Sensitivity is 1 /'2% of full scale; accuracy is Ύ/{ίο of full scale. Ε5 • P o t e n t i o m e t e r , b y Perkin-Elmer, is a n e w 4 0 0 c y c l e small version of its a,c. p o t e n t i o m e t e r for use i n servo systems and analog computers. T h e 4 0 0 cycle m o d e l h a s a l o w output impedance, less than 1 3 0 o h m s , w h i c h eliminates the n e e d for isolation amplifiers i n many applications, according t o company. U n i t also h a s an extremely l o w phase shift. ' i €> • L a b o r a t o r y b a l a n c e , by Torsion Bal a n c e , is said to simplify a n d s p e e d u p w e i g h i n g operations. Features of the n e w balance include torsion bands m a d e of Elgiloy, a stronger corrosion resistant alloy w h i c h results in longer, trouble-free life for t h e b a l a n c e . A single b e a m w i t h vernier permits w e i g h i n g s from 0 . 0 1 g m . to 1 0 gin. without t h e use of l o o s e - w e i g h t s . Ca p a c i t y of t h e balance i s 2 0 0 g m . , and the sensitivity reciprocal is 0.2 g m . • H u m i d i t y c a b i n e t for corrosion pre vention tests has b e e n d e s i g n e d b y Pre cision Scientific. Cabinet m a y also b e 3630
used for other tests requiring e x t r e m e h u m i d i t y at 7 5 ° to 1 5 0 ° F . A revolv i n g s t a g e s p e c i m e n rack, motor-driven at V a r.p.m., h o l d s 3 3 test p a n e l s . A dual hydraulic thermostat regulates heat to within 2° F . T h e c a b i n e t is p r o v i d e d with a n air dispersion s y s t e m and an air flow meter. Ε8 • H o t p l a t e , b y Fisher Scientific, c o m bines a n agitator w i t h a h e a t e r so that b o t h operations are s i m u l t a n e o u s . T h e unit rotates 2 1 6 times a m i n u t e in a circle w i t h a 1 / i c - i n . radius. T o p of t h e hotplate is m a d e of a l u m i n u m , t h e 2 0 0 0 - w a t t h e a t i n g e l e m e n t b e i n g cast right into it. T h e t o p plate is regulated within a . nperature range from 2 0 0 ° t o 7 0 0 ° F. E9 • M i c r o s c o p e a c c e s s o r y , by Bausch & L o m b , m e a s u r e s strain in glass and plastics. K n o w n as t h e accessory slot c o m p e n s a t o r , u n i t m e a s u r e s retarda tions from 0 t o 2 7 0 0 m^t. C o m p a n y says unit performs w i t h greatest effi c i e n c y w h e n u s e d w i t h light h a v i n g a w a v e l e n g t h of 5 8 9 0 A. T o a c h i e v e this light value, a n interference filter is available for u s e w i t h t u n g s t e n illumi nators. Ε 10 • R e d e s i g n e d s i e v e s h a k e r , b y Central Scientific, is for m e c h a n i c a l analysis of industrial m a t e r i a l s , or for s i e v i n g h e a v y mineral p o w d e r s , light organic s a m p l e s or fine pharmaceutical p o w ders. T h e n e w shaker h o l d s standard
BOOKS (Continued
from
page
3613)
The Metallurgy of Zirconium. National Nuclear Energy Series. Division VIL Vol. 4. Benjamin Lustman and Frank H. Kerze, Jr., editors. xviii -f- 7 7 6 pages. McGraw-Hill Book Co., 3 3 0 West 42nd St., N e w York, Ν. Υ . 1955. $10. Fifty contributors present a n account of the occurrence, reduction, properties» and uses of zirconium and zirconium alloys. Paperbound Proceedings, American Petroleum Insti tute. 1954. Section I I I . Refining. 424 pages. American Petroleum Insti tute, 50 West 50th Street, N e w York 20, Ν. Υ. 1955. $1.00. Includes corrosion, training, refinery maintenance, oil storage-tank failures, waste disposal, motor fuels, petrochemicals, processes, and fractionation. World Development of Atomic Energy. Edited and compiled b y Oliver T o w n send with assistance of J. Robert Bar low, iv -f- 150 pages. Atomic Indus trial Forum, 260 Madison Ave., N e w York 16, Ν. Υ. 1955. $5.00. Report is based on a survey which covers 32 nations known to h a v e substantial atomic energy activity. Includes special supplements on U. S. bilateral agreementsand the U N Geneva Conference. Problems on the Design of Machine Ele ments. 3rd edition. Virgil M . Faires and Roy M. Wingren. vi -f- 1 4 8 pages. The Macmillan Company, 6 0 Fifth. Ave., N e w York 1 1 , Ν. Υ. 1955. $2.25. Methods for Determining L e a d i n Air and in Biological Materials. Second edition. 69 pages. American Public Health Association, 1790 Broadway, N e w York 19, Ν . Υ. $1.25. Includes collection of samples, preparation, of samples for analysis, recommend e d pro cedures, dithizone methods, physical: methods, and selected bibliography.
CHEMICAL
AND
ENGINEERING
NEWS,
