NEWS EDITION
A P R I L 10, 1938
215
The Wall Street of Chemistry AIR
REDUCTION C O . a n d
subsidiaries
report for 1937 t h e largest n e t profit in their history, $7,326,835 or $2.85 a share on stock, compared with $7,064,533 o r $2.79 a share in 1936. Total taxes p a i d — state, local, a n d federal—amounted t o $2,118,500 in 1937, compared with $727,000 in 1929. Current assets as of December 3 1 . 1937, amounted t o $19,531,899 a n d current liabilities t o $4,276,360, compared with $21,709,791 a n d $4,215,047, respectively, a t t h e e n d of 1936. Inventories were $3,037,852 compared with $2,358,095. ALLIED C H E M I C A L & D Y E C O R P .
for
t h e year ended December 3 1 , 1937, reports n e t income, after taxes, deprecia tion, a n d expenses, of $24,770,845, equal t o $11.19 a share. This compares with $25,323,834 o r $11.44 a share in 1936. T h e dollar value of t h e company's business in 1937 was t h e largest in its history, ex ceeding t h e total in 1929. In comparison with 1929 t h e company's selling prices of heavy chemicals, alkalies, a n d nitrogen products were reduced b y about 2 4 per cent, while total taxes were u p approxi mately 60 per cent. Hourly wage rates a t t h e end of 1937 were 20 per cent higher, and n e t income diminished about IS per cent. During t h e first half of t h e year business was a t a record rate, b u t a reversal in trend in July resulted in a sharp a n d continuous decline in sales throughout t h e remainder of t h e year. COLUMBIAN
CARBON
C O . and
coveries) suffered by the company in connection with t h e sit-down strike. In spite of t h e strike and t h e recession affect ing November and December operations, the aggregate volume of business during 1937 exceeded that of 1936 by 23 per cent and 1935 by 56 per cent, largely because of substantial gains in t h e tantalum field. During the past year there has been much activity on t h e part of t h e research, engi neering, and sales staffs towards t h e de velopment and marketing of new products, several of which are now in regular pro duction.
sub
sidiaries for t h e year ended December 3 1 . 1937, reports n e t profit of $4,466,249 after depreciation, depletion, interest, federal income taxes, provision of $33,529 for surtax on undistributed profits, minority interest, e t c . , equal to $8.31 a share on no-par common. This is t h e largest in t h e history of t h e company a n d compares with $4,021,137 o r $7.48 a share in 1936. N e t sales for t h e year were $15,736,247, a record high, compared with $13,872,389 in 1936. EASTMAN KODAK C o . a n d subsidiaries
for t h e 52 weeks ended December 25, 1937, show n e t profit of $22,347,345 after depreciation, U. S. a n d foreign income taxes, $430,729 surtax on undistributed profits, a n d other deductions, equivalent after 6 per cent preferred dividends, t o $9.76 a share on common. T h i s was t h e largest in t h e history of t h e company, a n d compares with $18,906,371 o r $8.23 a share in 1936. N e t sales for 1937 totaled $136,114,878, compared with $119,800,209 in 1936. Current assets as of December 25, 1937, amounted t o $89,790,230 a n d current liabilities t o $24,197,120, com pared with $91,763,167 a n d $18,685,705, respectively, December 26, 1936. I n its report t h e company s t a t e d t h a t the decline in general business in t h e last quarter of 1937 did n o t affect operations to any great extent, and with t h e exception of a sharp decline in t h e sales ot acetate products, sales volume has been well maintained during t h e closing months of 1937 and u p t o date in 1938. F A N S T E E L METALLURGICAL C O R P . a n d
wholly owned subsidiaries h a d n e t earn ings, after full provision for all reserves and taxes, of $120,044. This compares with $161,056 in 1936. T h e earnings for 1937 a r e stated after a deduction of $30,664 representing t h e n e t direct ex pense (after crediting insurance re
GENERAL
REFRACTORIES C o .
for
Edward
the
year ended December 3 1 , 1937, shows net profit of $1,503,450 after depreciation, depletion, interest, amortization, extraor dinary charges, federal and s t a t e income taxes, and surtax on undistributed profits, equivalent t o $3.20 a share. This comares with $1,578.773 or S3.47 in 1936. The first nine months of 1937 showed a profit of $1,516,000 or $3.23 a share. Dur ing t h e year t h e company's funded debt was reduced from $2,700,000 t o $2,100,000 through retirement of $600,000 in bonds, paid for by funds provided through the sale of investments during March, 1937.
Rosendabl
Better Results with Emulsions Many times a product can be improved, or the cost of production lowered by emulsifying it with the right emulsifying agent. If you are not using any emulsifying agent now, perhaps it would be an advantage to do so. If you are using one, you may find that a different material will do a better job for you, and produce a more stable and satisfactory emulsion. "But which emulsifying agent will suit my specific purpose best?"—In answer to this question, Glyco has developed a sample assort ment (l lb. each) of fifteen special emulsifiers. They have a wide enough range of properties and variations in character to cover all types of emul sions, liquid, paste, acid, neutral and alkali. With this complete assortment to work with you ran quickly determine the best one to use. The complete assortment is available at cost of materials and handling, and will be shipped immediately on receipt of your order. Descriptive literature will be included. Price $7.98 f.o.b. Ν. Υ.
p
INTERNATIONAL N I C K E L C o . a n d wholly
owned subsidiaries report for t h e year ended December 3 1 , 1937, net profit of $50,299,624 after depreciation, depletion, income and franchise taxes, provision for Many Important Uses for Diglycol retirement, e t c . , equivalent after 7 per Stearate and Diglycol La urate cent preferred dividends to $3.31 a share |l| Both of these materials possess a remarkably on no-par common. This compares with wide range of characteristics. And as a result new and unexpected uses are continually being $36,865,526 or $2.39 a share in 1936, discovered for them. Maybe their unusual prop For the quarter ended December 3 1 , 1937, erties will suggest a way that one of them will be net profit was $11,355,243 o r 74 cents a of value to you. Let's look at them. share, compared with $13,030,028 in t h e *DIGLYCOL STEARATE (Glycol Stéarate) preceding quarter and $9,836,446 in t h e Practically white wax-like solid. Melting point December, 1936, quarter. I n 1937 sales (capillary tube) 53-54° C. Disperses completely on stirring in hot water. Water dispersions are of nickel rose 23 per cent above 1936, stable emulsions. Soluble (hot) in alcohol, oils, despite decreased consumption in the waxes, hydrocarbons. Specific Gravity 25°/23° United States during t h e last quarter. C—0.959. Weight per gallon—8 lbs. A 3% Copper sales increased, and sales of plati dispersion in water has a pH of 7.1 at 2 5 ° C. Emulsifying agent for heavy emulsions. Connum metals approached record levels tains no free alkalies or amines. during t h e first nine months, decreasing Suggested uses: Lubrication, pigment and abrasive suspension, paper and cardboard lubrication, sharply in t h e final months of t h e year, cosmetics, thickening agent, protective coating in 1938 the company is planning expendi for hygroscopic powders, emulsifying agent for tures of $14,000,000 for plant improve oils, solvents, waxes, etc. ments. VANADIUM
CORP.
OF
AMERICA
and
subsidiaries for t h e year ended December 31, 1937, report net profit of $836,657, after depreciation, depletion, interest, federal income taxes, a n d $72,047 surtax on undistributed profits. This is equiva lent to $2.22 a share on stock a n d com pares with $152,193 or 40 cents a share in 1936. Current assets as of December 31, 1937, amounted t o $3,779,376 and current liabilities t o $669,114, compared with $3,192,216 a n d current liabilities of $400,030 a t t h e end of 1936.
*DIGLYCOL LAURATE (Glycol La urate) Light straw-colored oily liquid. Disperses completely on stirring in cold water. Soluble in lcohol, oils and hydrocarbon solvents. Specific gravity 25°/25° C.—0.963 to 0.968. Weight per gallon—8 lbs. Suggested uses: Emulsifying agent for the manufacture of liquid emulsions, solvent for oil, soluble dyes tuffs, dry cleaning soap base, foam reducer in the manufacture of low-foaming, acid precipitated casein. * Covered by U. S. Patents. If you want to experiment with Diglycol Stearate or Diglycol Laurate, we will gladly send you free samples.
a
Glyco Products Company 148 LAFAYETTE ST.
(Dept. 46)
NEW YORK CITY
W E S T O N ELECTRICAL INSTRUMENT C O .
and subsidiary for t h e year ended De cember 31, 1937, report net profit of $422,885 after depreciation, federal income taxes, and provision of $31,164 for surtax on undistributed profits, equal t o $3.10 a share on no-par Class A a n d $2.10 a share on no-par common. This compares with $256,301 or $2.22 a share o n Class A and $1.22 on common in 1936. Current assets as of December 31, 1937, amounted to $2,155,235 and current liabilities to $307,689, compared with $1,923,052 and $224,681, respectively, at t h e end of 1936.
COME TO GLYCO FOR Diglycol Stearate Diglycol Laurate Propylene Glycol Stearate (Prostearin Propylene Glycol Laurate (ProlauGlycol Bnri-Borate rin) Glyceryl Bori-BorPropylene Glycol ate Oleate (Prolein) Ammonium StearGlyceryl Monoate (Anhydrous) stearate Glyceryl MonoriGlycol Oleate cinoleate
