FEBRUARY 25, 1940
NEWS EDITION
The W A L LSTREETof CHEMISTRY The Atlas Powder Co. for the year ended December 31, 1939, shows net income of $1,299,137 after depreciation, federal income taxes, and other deductions, equal, after 5 per cent preferred dividends, to $3.82 a share on no-par common. This compares with $1,013,056 or $2.69 a share in the preceding year. Sales for 1939 were $16,531,245 against $15,001,530 in the preceding year. Current assets at the end of 1939 were $9,413,792 and current liabilities $1,303,153, compared with $8,813,415 and $905,451, respectively, at the end of 1938. The Blaw-Knox Co. has filed with the SEC registration statement covering $3,000,000 first mortgage bonds, 3.5 series, due February 1, 1950. Proceeds are to be used to pay off short-term bank loans of $2,500,000 and to provide additional working capital. The company's net profits for the 10 months ended October 31, 1939, after all deductions, are given as $486,870, compared with loss of $1188 in the year 1938, a profit of $2,115,511 in 1937, and a profit of $1,256,359 in 1936. Commercial Alcohols, Ltd., for the nine months ended December 31, 1939, shows net profit more than 20 per cent ahead of the corresponding 1938 period. Devoe & Raynolds Co. and subsidiaries for the fiscal year ended November 30, 1939, show net profit of $397,256 after depreciation, interest, federal income taxes, etc., equal, after dividends on 7 per cent cumulative preferred stock (par $100), to $2.05 a share on combined Class A and B shares. In the preceding year the net loss was $214,232. The company is celebrating its 185th anniversary in 1940. E. I. du Pont de Nemours & Co., Inc., for its 138th year, ended December 31, 1939, reports net income of $93,218,664. This is equivalent to $7.70 a share on common, after provision for dividends on outstanding debenture and preferred stocks, compared with net income of $50,190,827 or $3.73 a share in 1938. Earnings and dividend distributions during 1939 were the largest in it* history. Sales showed an increase of about 27 per cent over 1938. During 1939 approximately $27,700,000 was expended in plant construction, about 59 per cent for additional capacity, and larger expenditures are contemplated for 1940. Total wages and salaries paid during 1939 amounted to $97,600,000, an increase of about 8 per cent over 193S. Hercules Powder Co. reports 1939 earnings of $5,324,992, a 20-year high. For preferred dividends $524,928 was paid, saving $4,800,064 or $3.65 a share applicable to common stock. This compares with earnings of $3,089,017 or $1.95 a share in 1938. Capital expenditures of approximately $4,981,000 were more than double those of 1938. Physical volume of business for the year showed an increase of approximately 28 per cent, beginning the advance in September.
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From a leading Processing Company. . .
Mathieson Alkali Works (Inc.) for the year ended December 31, 1939, shows net income of $1,095,962 after depreciation, depletion, obsolescence, federal income taxes, etc., equal, after dividend requirements on 7 per cent preferred stock, to $1.12 a share on no-par common. This compares with $999,473 or $1.01 a share in 1938. Taxes paid during the year amounted to $505,558, equal to 61 cents a share on outstanding common. Plans for 1940 include increasing facilities at the Lake Charles plant to provide for increased production of synthetic salt cake and at Niagara Falls for manufacturing a new product, sodium chlorite. Sales during the last four months of 1939 showed a marked increase. New Jersey Zinc Co. for the year ended December 31, 1939, shows net income of $5,299,055 after federal taxes, depreciation, depletion, contingencies, etc., equivalent to $2.70 a share (par $25) on common. This compares with $3,220,314 or $1.64 a share in 1938. The Pennsylvania Salt Manufacturing Co. for the 12 months ended December 31, 1939, shows net profit of $1,577,569 after depreciation, depletion, federal income taxes, etc., equal to $10.52 a share on common. This compares with $943,210 or $6.29 a share for 1938.
Koppers Co. Awarded Large Contracts I HE Koppers Co., Kngineering and Construction Division, has been awarded a contract by the Carnegie-Illinois Steel Co. for the construction of 142 KoppersBecker underjet coke ovens at Gary, Ind. Construction is to start immediately and the ovens are scheduled to be completed by the end of the year. The company has also been awarded a contract for a Seaboard process type of liquid purification plant at Borger, Texas, for The J. M. Huber Corp., manufacturers of gasoline and carbon black. The plant will be employed to remove hydrogen sulfide from natural gas which is to be used in the manufacture of carbon black. This will be the largest plant ever built for the purification of natural gas, it is stated, with a capacity of 70,000,000 cubic feet of gas a day. Polystyrene Price Reduction A MAJOR price reduction in polystyrene plastic molding materials has been announced by Monsanto Chemical Co.'s Plastics Division, effective February 7. The reduction, amounting to 5 cents a pound on clear molding compound and 4 cents a pound on colored molding material, brings polystyrene into a strong position in relation to some of the longer established types of plastics. Sale of this material was begun by Monsanto early in 1939. Polystyrene first achieved wide notice because of its high dielectric strength, being surpassed as an electrical insulator only by fused quartz.
Here ere a couple of orders for acid-fondling pumps that entitle somebody to do a little shotting, particularly as they came in after Hie buyer had operated Olivites for a number of years. Several features in addition to its hydraulic efficiency and capacity make the Olivitc Acid-Handling Pump a good investment. It's durable, tough, and strong. The special lining OLIVITE is firmly bonded to the castiron impeller, casing and cover. The floating stuffing box and spring-tensioncd gland make the packing do its work propedy. The shaft is protected by a sleeve, selected to meet conditions involved. There are three sixes of Olivite Pumps (1 V i ' , 8 ' and 4 ' ) and each carries the above features. Each can be furnished with direct, flat or V-belt dri*«. Bulletin 308 gives full details. Jht stvtnty Pumps reftrrtd to tbove were divided as fellows: fifty 8-mch, sixtrtn 1 ^4-4fKhf snd four 4-inch.
