The WALL STREET of CHEMISTRY Colgate-Palmolive-Peet Co. directors have authorized the call for redemption April 1 of an additional $2,520,000 of 6 per cent preferred stock at $102.50 a share, reducing the outstanding preferred to approximately 8 cents per share of common stock. The company called $3,000,000 of preferred for redemption February 1, 1940, and $5,000.000 for redemption August 1, 1939.
American Agricultural Chemical Co. and subsidiaries for the six months ended December 31, 1939, show net loss of $198,718 after depreciation, depletion, reserve for self-insurance, taxes, etc. This compares with net loss of $285,003 for the six months ended December 31, 1938. For the quarter ended December 31. 1939, net loss was $104,085, compared with net loss of $123,504 in the December quarter of 1938 and $94,633 for the quarter ended September 30,1939.
share of Fisk common is awaiting the dissolution.
Dow Chemical Co. and subsidiaries report for six months ended November 30, 1939 net profit of $3,445,110 after interest, depreciation, estimated income taxes, etc., equal, after dividend requirements on 5 per cent preferred, to $3.19 a share on common. This compares with $1,428,372 or $1.35 a share for the six months ended November 30, 1939. For the quarter ended November 30, 1939, net profit was $1,995,586 or $1.86 a share on common, comparing with $589,669 or 54 cents a share in the November quarter of 1938.
The Celotex Corp. reports net earnings for the fiscal year ended October 31. 1939. after all charges and provisions for federal income taxes, of $741,756, compared with $518,358 in the previous year—an increase of 43 per cent. This was equal, after dividend requirements of preferred stock, to 93 cents a share on common, and compares with 58 cents a share in the previous year. Net sales were the highest in the history of the corporation, amounting to $12,317,936 or 35 per cent over the previous year. Sales increased in all general departments of the business and particularly in asphalt roofing materials and gypsum products. The plant of Celotex, Ltd., London, England, had net earnings after all charges of $60,310. During the year the company increased its holdings in the common stock of Certain-Teed Products Corp. and now holds 23.6 per cent.
Fisk Rubber Co. has called for redemption on February 23 all its outstanding preferred stock at $110 a share and accrued dividends. This action is pursuant to the plan of selling the company to the United States Rubber Co., which was approved by stockholders December 29, 1939. Dissolution of the Fisk Co. has not been voted by stockholders, and distribution of $6.75 in cash plus one fourth share of U. S. Rubber common for each
Freeport Sulphur Co. and subsidiaries for the year ended December 31, 1939, show net profit of $2,200,762 after depreciation, depletion, federal income taxes, etc., equal to $2.76 a share (par $10) on common. This compares witn net profit $1,506,059 or $1.87a share in 1938, after dividens on 6 per cent preferred. Lindsay Light & Chemical Co. for the year ended December 31, 1939, shows net profit of $68,928 after depreciation, federal income taxes, etc., equal, after 7 per cent cumulative preferred dividends, to 89 cents a share (par $10) on common. This compares with net income of $26,168 or 17 cents a share on common in 1938. For the fourth quarter of 1939 the company earned 47 cents a share. Procter & Gamble Co. and subsidiaries report for the quarter ended December 31, 1939, net profit of $7,634,697 after depreciation, federal income taxes, etc., equal, after dividend requirements on 8 and 5 per cent preferred, to $1.17 a share on no-par common. In the December quarter of 1938 net income was $5,784,750 or 87 cents a share on common. For six months ended December 31, 1939, net profit was $14,586,538 or $2.23 a share on common.
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