Document 06k0zv1X6kKVzV5mJoRQN5R4k

MOODY'S MANUAL OF INVESTMENTS AMERICAN AND FOREIGN INDUSTRIAL SECURITIES JOHN SHERMAN PORTER, Editor-in-Chief Editorial Board A.Joseph Dittrich M.David Ellinwood Arthur W. Herrmann Max Frupbacher Walter F. Hahn I.George Blair Frank J. St. Clair 1944 COFYMGHT, 1944, BY Moody's Investors Service, New York All BIGHTS BISSXVKD Public Librarg ,JUL 8 1944 Dallas Texas MOODY'S INVESTORS SERVICE 65 BROADWAY, NEW YORK 6, N. Y. PHILADELPHIA BOSTON CHICAGO LOS ANGELES PITTSBURGH SAN FRANCISCO Stock Exchange Bldg. 75 Federal St. 105 W. Adams St. Hollingsworth Bldg. Union Trust Bldg. Russ Bldg. LONDON: MOODY'S INVESTORS SERVICE, LTD. MOODY'S MANUAL OF INVESTMENTS 333 PAID-- tax reserve applicable to preceding year, $9,- CORNING GLASS WORKS 766: total. $809,766. ,, . History: Incorporated Dec. 24. 1936. In New a, S^1932-34 NU. Note: Company Is subject to renegotiation of York, as a consolidation of a company of the contracts for year ended Sept. 30 1343. same name, incorporated in 1911. and Mac- jjo HJIWU- Sl-10HU937_ $1.60 Earnings: beth-Evans Glass Co. Originally established AIL shares: 0 !r poiQ44 - 0.20 * % si 00 In 4% certificates of In^(subsequently retired). Fisca'l Year 1941____ 1940____ 1939------ Net Sales $6,416,506 3,958.220 2,652,985 Net Income $658,667 635.987 183,721 Eani. in 1868. on Com. Properties: Company has eight plants, one $2.48 each located at Wellsboro, Pa.. Central Falls. 2.40 R. I., Charleroi. Pa., and five at Coming. N. Y0.69 having a combined floor area of over 50 acres. JRLiVsOOO shares) at $18 per share .Q40 bv a syndicate headed by Jfr Vew York. Proceeds applied to * poo.000 bank loan and for working 1938------ 30,744 0.12 Consolidated Paid-in Surplus Account year ended Sept 30. 1943: Balance, Sept. 30, 1942. $809,863. Atld: Excess of principal amount of 4',4% conv. debentures retired through conver Business: Manufactures glasses of special chemical composition with unusual proper ties, for spepial purposes, with brands as fol lows: "Pyrex," "Corning," "Steuben." "Ther mo," "Monax," "Galax." and "Vycor." oaNGE-- 1943 1942 1941 19400)1939 BANG 15 1214 1874 25>4 18*4 .............. 974 874 9?4 15)4 10*4 common. Range for old common in sion ($1,264,325) over par value of common stock issued therefor ($148,093). $1,116,232 other. $765; total, $1,926,860. Deduct: Excess of common stock purchased over par value thereof. $1,598: balance, Sept. 30. 1943. $1,925,262. Company's subsidiary, Pittsburgh Coming Corp., has developed a new type of opaque glass with buoyant and Insulating properties Subsidiarie--s: <C>--on<t--rol's- Steuben rG'7la--ss. Inc.. Corning Realty Corp.. and Corhart Refrac 5lt?Ants: Central Hanover Bank & C^New York, and Peoples Pittsburgh Consolidated Balance Snheeti,i a. s of Sept. 30: Assets: 1943 1942 Cash $4,456,541 $3,196,810 tories Co.. Inc.; owns 50% Dow Coming Corp., Midland, Mich. (Incorporated Feb. 17,1943). In Mar., 1937, company and Pittsburgh Plate Chase*Natlonal Bank, New York, Receivables, net.. 2,140.280 1.406.354 Glass Co. (see general Index) formed a new tfSvational Bank. Pittsburgh, adrr,^th classes): On New York Stock common also listed on Pittsburgh JSrrschange. [DInventories___ Total current. Plant & equip. .. 4,092,637 $10,689,458 1,540,335 2.073,082 jointly owned company, Pittsburgh-Coming Corp. On Oct. 31, 1938. company and Owens-Illi $6,676,246 nois Glass Co. (see general Index) formed a 1,331,702 new Jointly owned company. Owens-Comlng- jJJJhell-dubilier electric Depreciation____ 778,473 624.769 Flberglas Corporation. __ , _ __ Net property .. 761,862 706.933 Officers: Amory Houghton, Chairman: G. W. ^SnT'lncorporated Oct 22. 1936. under Trade names, etc. 194,181 194,181 Cole, Pres.: G. D. Macbeth, W. C. Decker, C. Unamort. improv. JStn laws as Comell-Dubllier Corn.: Post-war tax refd. STchanged to above June 23. 1937. Deferred charges. 36,067 227,574 48.824 D. La Follette, E. W. Ritter, H. M. Hosier, W. 60.000 C. Taylor. J. T. Littleton, Vlce-Pres.; W. H. 135.726 Curtiss, Vlce-Pres. and Sec.: J. L. Ward, STaf Oct 31. 1936. company acquired bust* of Comell-Dubllier Corp. (Incorporated KS J933, In New York). To 8 Aug. 27,1937. purchased for $32,500. the capital stock of Condenser Corp. of lea which waa held jointly by Dublller Corp. and Cornell Electric Mfg. Co.. Total................ Liabilities: Accts. payable__ Income tax res___ Other accruals ... $11,909,142 $676,355 5,100,0001 425,301/ Treas.; C. H. R. Young, Asst. Treas. and Asst. $7,821,909 Sec.; W. W. Slnclaire, Asst. Sec. Directors: G. B. Hollister, E. C. Sullivan, $363,659 Amory Houghton, A. A. Houghton, Jr., G. W. 2,879,862 Cole, J. L. Peden. W. H. Curtiss. G. D. Mac beth. Coming, N. Y., A. D. Falck. Elmira. N. Y. Annual Meeting: 2nd Tuesday in Feb. M details of acquisitions by predecessor Total current. gir from Dublller Condenser and Cor- Deb. 4`is. 1952___ S Ccctrlc Mfg.. see Moody's 1937 Industrial Post-war tax refd. *Vjune. 1941. company acquired patents Com. stock ($l) .. Paid-in surplus -- Mi patent rights owned by Dublller Con- Earned surplus .. Eqer Corp. for $7,500. $6,201,656 3126.675 412.636 1,925,262 3,242,913 $3,243,522 1.461,000 60.000 264,620 809.863 1,982,905 No. of Stockholders: Dec. 31, 1943. 486. No. of Employees: Apr. 5, 1944, 10,300. General Office: Coming, N. Y. New York Office: 718 Fifth Avenue. Chicago Office: Merchandise Mart. Capital Stack: 1. Coming Class Works eom- mAutori!di 750.000 shares: outstanding. S#PfcjlIncityfunrnltagnnatnheoeteystrnisipmq:tnesuifCs.snoisproroPieommnfrnuotepcsdnaeeacuntqpocIyuanmatiscpnmpirtmdaoaasnroednsoylniudottohf,aaercacnarofrtdnieumxedreelmbmedfsylcuuaetnaonrCliinerucceodcaafsnattlrcidscoieeceItnunlannlssr-tsleedrrNaineefArfdetlc&ATcccaatouocCalutrcloearprn..udlptase_rs_fodo_scx_ereiin_tmrsr_ttee_iaf._drit.eeeedsmct.obpsyt$ito$1nB4n1o,,a49tJr80aer79onx,,81wc.04e22,1e,Wd19ian4dg4$$e37ma,,,48tGa321r21uk0,,79t5eh20%t49. 642.768 shares: par $10. Closely held. Transfer Agent and Registrar: Company. _ Preferred Stock Retired: Entire issue of 6% preferred stock was retired at $100 per share (plus accrued dividend of $1.50 per share) June 30,1943 at Union Trust Co., Pittsburgh. Ort. of America (a wholly owned subsldKf). ffl the year ended Sept. 30. 1941, company (Wired over 2.400 customers and not more pn Id. of total sales were made to any one wwmrr. Debenture 4)4| Retired: Entire issue of con vertible sinking fund debenture 474s, due 1952, was retired Jan. 1, 1944 at 105 at Central Hanover Bank Sc Trust Co., New York. Capital Stock: 1. Comell-Dubllier Electric DIAMOND T MOTOR CAR CO. History: Incorporated under Illinois laws in Nov., 1915. Business: Manufactures heavy duty com mercial motor vehicles sold under the trade Company's present activities are mainly de wed io war needs. Corp- $5-25 cumulative preferred, series A; no name "Diamond T". par: Company has assigned specific selling ter leases plant located at wm Plainfield. N. J., covering 33 acres and mint floor space of about 165.000 sq. ft and For details, see Addenda. 2. Cornell-Dubilier Electric Conn common; par 51: ritories to about 700 domestic dealers and 100 foreign dealers. In Mar. 1939 company took over on an ex- wni M0.000 sq. ft plant at New Bedford, a*w- ol."cr Plants have been opened at Prov- Sff' " ,, Worcester and Brookline, Mass. C*lc#r: Buell Hollister. Chairman; Octave f*nr?s: wi,,lam Dubilier. 1st Vlce-Pres.: u,vCnne , 2l*dVlce-Pres.: W. M. Bailey, "riff- Deeley. Vlce-Pres.: Halm Beyer. Sec. P' Geiser- Asst Treas.: K. E. Hr4jAi LStJ sc : J-A- Bertolacci, Controller. B^le.u Hollister. William Dublller. iRyan y ' ctave Blake. H. V. Mitchell, K. jjjjjua* Meeting: Second Wednesday In o Stockholders: Feb. 1. 1941, 2212. A3300U00.,T0000H00ORsshhIZaarrEeeDss --JJ5aa0nn0..,0022088s., ha1199re44s22 (Iaannncddreaffrrsooemmdfro2200m00 shares June 23, 1937); outstanding, Dec. 27, 1943, 419,909 shares; par $1 (changed from $100 par June 23. 1937). Issued 202,760 shares to holders of 200 old $100 par shares In exchange therefor in June, 1937. At Dec. 29, 1941, unissued shares Included 35,360 shares authorized prior to Nov. 25, 1941 in respect of which stockholders have no preemptive rights. DIVIDENDS PAID--Initial dividend of $470 per share on old $100 par shares paid Dec. $0, 1936 (in 4% notes due Dec. 30.1938). Car deUver,tyh^truc11?ka. The Pak-Age-Car continues to be manufactured in Connersville. Ind., plant of Pak-Age-Car Corp. The truck is a rear engine "stand-drive" unit built for house-to-house delivery service. Substantially all products sold to U. S. Gov ernment. Properties: Plant at 4517 West 26th St.. Chi cago. owned in fee, contains about 250.000 sq. ft. of floor space covering about 25 acres. Additional facilities purchased and leased about 5 miles from plant. Company also has a retail branch in Chicago and a wholesale branch In Queens County. S5ii,rn- *n--of Employees: Dec. 31. 1943, 6,700. * J**: 333 HamiIton Blvd., So. Plainfield. hSt?n!.,dated income Account years ended gwwq i ....... profit------- JJop.ee.t.c.r....,..p.e.r.xo..of.i.t .. .. SJer income___ income _ i*"**ctlons taxes " gS** prof, tax SLb`wire. Sid Income .. gjyends __ KE'**s lor year! $22,346292 8,251,934 1.493.104 6.758,830 54.901 6,813.730 22.994 300.000 5.225,000 cr 525.000 1.790,736 405.521 1.385.215 1942 $12,484,750 4,411.894 1,276.670 3.135,225 m.......... 3,135225 ID-........ 476.000 1,800.000 _______ QJ859.225 119.088 740.137 Initial dividend on $1 par 'shares paid Sept. 28. 1937, 27*4 cents: 1938.10 cents: 1939. 40 cents: 1940, $1.15: 1941. nil; 1942, 85 cents; 1943. $1.10; Mar. 10. 1944. 20 cents. PREEMPTIVE RIGHTS--Stockholders have no preemptive right to subscribe for unis sued shares authorized prior to Nov. 25. 1941. but have such rights as to unissued common shares authorized thereafter. VOTING RIGHTS--Entitled to one vote per share. OFFERED--(60.828 shares) Aug. 2. 1937. at S10.75 per share by Swart. Brent & Co.. IncNew York, and Mitchell, Herrick & Co.. Cleve land. In addition. 1,500 shares were offered to certain officers and employees at $8.55 per share. Shares offered were subject to subscrip tion rights given stockholders of Dubilier Condenser Corp. and Cornell Electric Mfg. Co Officers: C. A. Tilt, Pres, and Treas.: S. A. Cook, Vice-Pres. and Sec.: J. R. Cardwell, T. C. Huxley, Jr., C. A. Peirce, E. J. Bush, Vice-Pres. Directors: C. A. Tilt, J. R. Cardwell, F. J. Birk, J. B. Westcott, R. O. Lord. S. A. Cook, E. J. Bush, C. A. Peirce, H. C. Emberson. Annual Meeting: In May. No. of Stockholders: Dec. 31, 1943. 2,150. No. of Employees: Dec. 31, 1943, 2,700. Office: 4517 West 26th St- Chicago. 111. Income Account, years ended Dec. 21: 1943 1942 Net sales $123,826,552 $102,720,278 Renegot. ref. prov. ID........ - 4,000,000 Balance 123,826,552 98,720,278 Cost of sales___ 112,366,744 86,472,010 Sell, etc., exp.__ 2,258,785 2,637,024 EOper. profit___ 9,201,023 9,611,244 1.982,905 1.241,298 lne. Other income___ 1,004 8,359 >hits .............. ISJWP.. 3-307-' H684,559 1809.766 ,249.913 18,359 Transfer Agent: Registrar and Transfer Co.. Total income___ 16,889 15 Exchange Place. Jersey City, N. J., and 2 Interest 1.982.905 Rector St.. New York. Fed. income taxes 9,202,027 59.368 290,000 9,619,603 61,704 402,189 Per share $4.34 3$3.24 Registrar and Dividend Disbursing Agent: Excess prof, tax-- 7,040,000 7,341,770 shares ___ 4112,635 Jb5*irePorted separately, 264,619 Chaser National Bank. New York. Listed: New York Stock Exchange. Debt retire, credPost-war tax ref. cr 704,000 cr 200,000 cr 530,000 hart,. ea net Income, after renegotiation re- Subscription Rights: Comell-Dubllier Elec Contingency res-- 500,000 Mon' to SEC, amounted to $696,824, tric Corp., common stockholders of record Net income 2,51*6,659 2,043,939 S2 63 per share. Jan. 23. 1942 (other than Dublller Condenser Common divs.__ 526,574 421,259 toj ades $616,662 excess of Federal Income Corp.) and common stockholders of Dubilier Surplus for year. 1,990,085 1.622,680 end-rf profits taxes provided for year Condenser Corp. of record Jan. 28. 1942 had Earn. surp., l-l ,, 3.793,007 2.170,327 *etnrin?npt: 30- 1942 over amount paid (due the right to subscribe for. Comell-Dubllier Pr. yr. reneg., net 1388.223 to adiusted Income resulting from Electric Com. debenture 414s. 1952 at 100 as Earn, surp., 12-31- 5,694.869 3,793.007 fffiwi! .0P Payments made to government). follows: $5.71 of debentures per share of Cor- Earn., com. share- $5.97 $4.85 7e*r ,,,,Jr7s*ng renegotiation payment for nell-Dubiller Electric Corp. common and $1.90 No. of com. shs. -- 421.259 421.259 pended Sept. 30. 1942, $700,000; additional of debentures per share of Dublller Condenser HIAfter depreciation and amortization: 1943, Tens jj*$"nProflte taxes appllcable to prior Corp. common. Rights expired at noon on $375,581: 1942. 266.480. 2832 MOODY'S MANUAL OF INVESTMENTS CAPITAL STRUCTURE OWENS-ILLINOIS CAPITAL STOCK Par Amount Issue Value Outstanding 1. Common *12.50 2,661,204 shs. CDS12.50 par common--after 2 for 1 split-up in 1937. GLASS COMPANY Earned per Sh. 1943 1942 *3.56 *3.46 Divs. per Sh. 1943 1942 *2.00 *2.00 Call Price HISTORY Name, place of incorporation and business: The Muncle plant la Incorporated in Ohio, Dec. 13, 1907 as The Owens Bottle Machine Coro., successor to a New Jersey corporation of the same name, in corporated Sept. 3, 1903. Charter is perpetual. Name changed to The Owens Bottle Co. May 1,1919 and to Owens-Illinois Glass Co. Apr. 17, 1929. During 1912 acquired assets of The Owens West Virginia Bottle Co. and Northwestern Ohio Bottle Co., and on Jan. 1, 1915. assets of The Owens Eastern Bottle Co., wholly-owned subsidiaries. In 1916 acquired control of Amer ican Bottle Co. and Graham Glass Co. In 1917 acquired Kanawha Manufacturers Gas Co. During 1918. acquired assets of subsidiary Whitney Glass Works. In 1919 acquired con trol of Charles Boldt Glass Co., manufacturing bottles, cartons, etc. During 1923 acquired control of Closure Service Co. On Jan. 1, 1926 took over assets and control of Charles Boldt Glass Co. In May, 1929 merged assets of Illi Owens-Illinois Can. Co. (Del.)--Metal con tainers, etc. __ Madison Warehouse Co. (Mass.)--Warehouse Owens-Illinois Distributors, Inc. (Ohio)-- Warehouse .. Lauterbach Corp. (Del.)--Plastic molding ma chinery Company owns 50% of capital stock of the Owens Stapletied Brush Co. and 49.77% of common and 7,161 preferred shares of Owens- Coming Fiberglas Corp. (see below). Owens-Corning Fiberglas Carp.: incorpo rated under Delaware laws Oct. 31, 1938, and acquired all the assets of Owens-Illinois Glass Co. and Corning Glass Works which had been devoted to production and development of glass in fibrous forms. Engaged in produc- tion of "Fiberglas" materials for a wide va- riety of applications, including insulation, dust-stop air filters, and decorative and Indus- trial service fabrics. Company is practically Insulux Division. Plant Co. is located at TolSi' acolsnotaminaenrusf.acMtuerteasl craTZ conducted at the Gl_ Owens-Illinois r>- more, Md., Clearing, inMBaodsistoonn,W__arehouse Ca NIantecwT. oolYepoderorak,t,eOsLL. awuatere.r.hb..oa. uc.she Jointly with Libber (see general index) - e__rt_i_e_s__in_ _W__e_s_t_V_T______ ing fuel to the Chaxleatm panies. On Dee. *i SKowned or held under acres, on which there (book value was *930 v\ nois Glass Co. (III. 1873) and Chicago Heights Bottle Co., Including stock of Carlyle Paper ?.' mTM?," ChoousTInavCp0rn PtooCrAirpScrtaa,nnrii9Pl9nabnnsrdfoMrt,aeddioSna?nSW^saarop-f erates government-owned plants. Common pottle manufacturing Gtassd^IeS' Americal' BottIe ^ and Graham busTnESS AND PRODUCTS 1^ pridultag1"^^' On Jan. 1. 1930 acquired assets except cer- Directly and through subsidiaries manufac- weUs? bookroYi?e tain natural gas properties of Berney-Bond tures, warehouses and sells a general line of was *319 078 * " Aw* Glass Co. In Nov., 1930 acquired principal as- bottles and other containers for medicinal. ----- sets of Atlantic Bottle Co. toilet, pharmaceutical and proprietary prepa- MANAGEMENT As of Nov,_30, 1931 purchased assets of Dll- rations; for products of manufacturing chemnois Pacific Coast C--o.; properties were trans ists; and for foods, condiments and beverages; Officers ferred June 1, 1932, Owens-Illinois Pacific Coast Co. being organized to operate them. also for other purposes. Also manufactures and sells glass insulators used in electrical and WJ. .PE. .LLeevvisis, ,,PCi_re_h_sa_iid_r_me_n_at_n^ In Oct., 1932 purchased, as of July 31, 1932, Root Glass Co. of Terre Haute, Ind. In 1932 telephone wiring; Insulux glass blocks for in dustrial and residential construction; caps and C. B. Belknap,W. L Cole, Vice- absorbed business of subsidiary Carlyle Paper Co. closures for glass containers; and plastics. Company also engages in fabrication of straw- As of Jan. 31.1933 acquired substantially en board into corrugated cartons for shipping tire assets and business of O'Neill Machine Co., glass articles, and makes wood packages. Sub developing automatic bottle blowing ma sidiaries manufacture, warehouse and sell F. J. Solon. ViceF. T. Nesbitt, VlceC. R. Megowen, C. G. Bensinger, Garland Lufkin, chinery, using the vacuum process. As of Mar. thin blown (paste mold) tumblers (Libbey 31,1933 acquired Hemingray Glass Co. special Safedge and Libbey No-Nik), used as drinking izing in grass Insulators. In Apr., 1933 exer glasses and as jars for packing food products; cised option on 16,000 ' shares of Container stemware; glassware for hotels, restaurants, Corp. of America (see general index) 7% cafes, clubs, bars and soda fountains; cut and cumulative preferred, subsequently receiving engraved glassware; and tin cans and related through recapitalization 50,000 common shares metal products. for part of this holding. In May, 1933 pur chased entire assets of Illinois Glass Co. Dur Company is engaged in the manufacture of war materials. ing 1933 organized in Ohio Owens-Illinois Dis tributors, Inc., engaged in warehousing and sale of certain products. On Dec. 31, 1935 purchased entire assets of Libbey Glass Mfg. Co., Toledo (founded in 1888), transferring properties to new subsid iary, Libbey Glass Co. (Ohio 1935). In Feb., 1936 acquired Enterprise Can Co., McKees Rocks, Pa., through exchange of stock, Owns interests in natural gas properties which supply some of the plants with fuel. Glass sand requirements are purchased from outside interests. Company owns a substan tial Interest (book value 83.174,066 on Dec. 31, 1943) in Owens-Coming Fibreglas Corn., in terested in glass fibers for air filters, insulation and other purposes. S. J. L. H. WRarilgrdhot,n.VWiee.-. H. S. Wade, Vice- J. H. McNemey, 5 E. F. Martin, Asst F. G. Morfoot, Asst f A. J. Rledmayer, Ass W. G. Thomas, C. B. Ralrdon, C. O. Dawson, Directors C. B. Belknap, Toledo Harold Boescnenstela W. H. Boshart, Miami H. E. Collin. Toledo W G. F. Greenhalgb * W. W. Knight, TOio J. P. Levis, Toledo and assets of Tin Decorating Co. of Baltimore Company is divided into two distinct parts, W. E. Levis. Toledo (subsidiary of American Tobacco Co.) for (a) Owens-Illinois Glass Co., including three F. H. McAdoo, New cash, forming, to operate these properties, of its wholly-owned subsidiaries and (b) C. J. Root, Terre Owens-Illinois Can Co., which bought for cash Owens-Illinois Can Co., also a wholly-owned F. W. Schwenck. uo assets of St. Louis Can Co. subsidiary. The four subsidiaries function as C. J. Wilcox, Toledo In Aug., 1936 sold entire stock of Tavern Rock Sand Co. tor 15,309 common shares of Pennsylvania Glass Sand Corp., etc. Subse quently company bought sand requirements from outside interests. follows: Owens-Illinois Can Co. manufactures and sells general line and packers' cans; Owens-Illinois Distributors, Inc. services its customers from its warehouse in Long Island City. New York: Madison Warehouse Co. General Counsel! Morgan. Annual Meeting! Third W at Toledo, O. uthwpi In 1936 the name of Closure Service Co. was services its customers from Boston: Lauter Number of Stockholder* changed to Owens-Illinois Closure Co. bach Corp. supplies automatic machines for In Apr., 1937 acquired Lauterbach Corp. molding plastics. On NNoovv.. `1, 1938 company t.ran.sfer.red.sub stantially all of its assets for development and PRINCIPAL PLANT8 A PROPERTIES Number ot Employee* General Office: Ohio Bldg., Management production of glass fiber products to Owens- Glass factories are located as follows: department heade Coming Fiberglas Corp. for 49.77% of latter's Alton, 111. Waco, Texas saflon under Plan ad common and 17,586 preferred shares. Bridgeton. N. J. Charleston, W. Va. termined by the com. During 1939 sold Chicago Heights, HI. fac Clarion, Pa. Terre Haute, Ind. fund representing up to tory to Kimble Glass Co. for cash. Columbus, O. Gas City. Ind. cess of 10% of capital , During 1941 sold Brackenridge. Pa. factory. Fairmont, W. Va. Huntington, W. Va. ginning of the year.Td In 1943, two former subsidiaries, Owens- Glassboro. N. J. Muncie, Ind. salaries shall not tact* Illinois Pacific Coast Co. and Libbey Glass Los Angeles. Cal. Toledo, O. earnings for each year Co., were dissolved and their businesses con Oakland, Cal. Streator, 111. participant in any solidated with that of Owens-Illinois Glass Co. as divisions. SUBSIDIARIES Company is primarily an operating com All of the above active plants except Muncie are used for manufacture of glass containers, and contain automatic machinery and other equipment for that purpose. An 80-acre site salary tor that yw .tTjt Payments TMde udr 1935:::::::: pany. Is owned at Atlanta. Ga., where it is planned 1936------------ gJH On Dec. 31, 1943, held 100% voting power in to construct a factory for manufacture of 1937_______ M1.W* the following subsidiaries: glass containers when circumstances permit. 1938. INCOME ACCOUNT8 COMPARATIVE CONSOLIDATED INCOME ACCOUNT, YEARS ENDED DEC. 31 Net sales, royalties & other op. rev-- BCost of sales, royalties paid, etc____ (SSelling, general & adm. expenses.. (Taken from 1943 $172,132,405 129,386,861 11,866,729 repo$11r11t5s012,1.,042t983o347502.,,7S65002e927curitie*1s29955a,1..352n9853d41151,,0,8E1165x787chang*e87890,C1,.226U8o922A79m,.7,42m950086ission*)862270.-,)095121295553,.,0999968378 -<i>l-i*.t Operating profit Dividends received Interest received Discount & commissions Miscellaneous other Income Total Provision for management bonus___ Discount on sales Provision for bad debts Interest on bonds, debentures, etc._ Premium, debentures retired___ ____ SBSundry expenses & losses (net) 30,878,814 134.386 139.560 429.677 81,786 31.664.224 588.500 1.590,903 1.745 60,647 7,431 651.512 30,707,215 139,086 88.609 414.083 43,023 31.392,016 579.000 1,375,072 26,754 217,851 77,564 94.495 20,942,272 153,873 77.507 473,766 5,946 21,653.363 628.250 1,096.624 195.271 306,569 326576 10,384,958 212,175 81,249 300,039 dr 40.328 10,938.093 48.644 789.697 146,107 308,837 87,748 11.583.16J 50.578 81.348 66.673 ft '0;. 12,035598 188.750 723.471 78560 432577