The WALL STREET
stroyer, production of sugar from cellulose» and a new vitamin preparation.
of Chemistry TWELVE
MONTH»* EARNING»
1943 Davison Chemical Co. International Minerals & Chemical Corp. Lehn & Fink Products Corp. McKesson & Robbins, Inc. Vick Chemical Co.
U . S. Rubber Expansion
$2.081.738 778.037 5,079.370 2.264,889
PER COMMONr SHARE
1944
194S
S2.016.037 697.845 5.161.069 2,460,916
$2 51 3.61 1.96 2.85 3.32
1944 $2 6 8 3.11 1.75 2.75 3.62
1.86 3.32 0.88
1.09 1.27 0.49
S i x MONTHS* E A R N I N G S
2,106,126 96,998 358,591
Merck & Co. United Dyewood Corp. Vanadium Corp.
Babcock & Wilcox reports that practically all its facilities constructed for war pro duction had been amortized as of June 30, 1944. The cost of a steel mill that began operations in 1942 is being amortized over a 5-year period. Orders are being received at a much lower rate than in 1943. Profit of $3,066,809 for 1943 compares with $3,104,779 in 1942. Barium Steel Corp· has acquired Clyde Iron Works of Duluth through purchase of 98% of 5% cumulative preferred stock and more than 97% of common stock, at a total cost of $1,400,000, and will operate it as a subsidiary. Clyde profits for the first half of 1944 were $736,700. Industrial Rayon Corp. is completing ex pansion program to boost production b y about 75%, involving capital expenditures of • about $14,000,000. Part of funds were ob tained by sale of $10,000,000 preferred stock early in 1944. International Minerals & Chemical Corp. reports that during the year ended June 30, 1944, all operations and plants were produc ing at capacity, with volume of goods, pro duced and sales greater than any previous year in the company's history. Lehn Jb Fink sales were at the highest figure on record at $17,143,337 during the fiscal year ended June 30, 1944, a gain of 29% over the previous year. Merck & Co. net sales for the first six months of 1944 totaled $27,368,973, as com pared with $30,568,960 in 1943. Stockholders of Tubize Rayon Corp. are asked to vote at a special meeting Oct. 20 on creation of a new issue of preferred stock in the amount of $10,000,000, $7,000,000 of which will be sold initially. Proceeds are to be applied to retirement of outstanding 7% cumulative preferred stock, a reduction in the principal amount of 3.5% sinking fund debentures, and addition of approximately $2,000,000 to working capital. Dividend rate on new stock will be between $4.50 and $5.
Z i n c Scrap Industry A new high in zinc scrap consumption was reached in Jury with 17,673 tons and in re covery with 11,061 tons, reports the Bureau of Mines. Although total scrap consumption rose, use of solid metal scrap declined t o a record low, and total zinc scrap receipts at consumers' plants fell.
VOLUME
2 2, N O .
1,337,585 37,160 197,756
Patent A p p l i c a t i o n s Prosecuted Alien Property Custodian James Έ. Markham has announced that· 2,048 of the 4,802 patent applications that he vested as property of nationals of enemy and enemyoccupied countries have been successfully prosecuted by his office and patents have been issued to him. As a result, many new inventions and processes have been made available for war production and to those interested in planning peacetime production. Some of the new scientific developments available include the manufacture of magne sium from magnesite, reduction of glare from lenses, a substitute for litmus, weed de
T o meet increased war production de mands, United States Rubber Co. has es tablished new manufacturing facilities in seven cities scattered in six eastern and middlewestem states, and is expanding present plant facilities at four of its 38 plants. The new manufacturing operations include production of rayon cord at Scottsville, Va.; Signal Corps wire at Lowell, Mass.; Army raincoats at Ligonier, Ind.; special military equipment at Worcester, Mass.; special invasion equipment at Manchester, Ν . Η. and Grand Rapids, Mich.; asbestos and footwear parts at Beacon Falls, Conn. A plant at Hogansville, Ga., built last year, is being doubled to permit expanded production of light-weight asbestos yarn for fire-fighting suits and other vital war items. Tire plants are being expanded at Chicopee Falls, Mass., and Los Angeles, Cal. At Eau Claire, Wis., the tire plant is being recon verted from the production of small arms am munition and greatly enlarged.
M o r e Fertilizer for 1 9 4 4 - 4 5 War Food Administration reported that farmers may get more fertilizer in 1944-45 if they order and accept delivery early. Of ficials expect 2 1 % more potash than in 1943-44, 25% more superphosphate, if new production facilities are completed in time and labor can be obtained, and more nitro gen than was actually used this season.
so he's using an *&«&
i-Sparking Safety Bung Wrench
This ail-purpose b u n g ~ w r e n c h is~ typical of more than 4 0 0 standard tools described i n the Ampco Safety Tool Catalog. Wherever a spark may ignite explosive fumes, gases, or dust—endangering men a t work a n d a fortune in plant e q u i p m e n t — i t pays to pro vide this protection. Tested a n d approved by Factory Mutual Laboratories and other insurance' authorities, frequently required to earn lowest insurance rate». Widely u s e d i n oil r e f i n i n g , c h e m i c a l m a n u f a c t u r i n g , Ordnance p l a n t s — i n mines a n d on ships at 'sea. e * StanSardize o n
19» «OCTOBER
10,
1944
Special types fabricated to your specifica tions when, necessary. Write for catalog·
A m p c o M e t a l , Inc» Department CE-,10 Milwaukee, 4, Wisconsin ftca.u.s.
non-sparking
y Tools 1iJ27
