Document 0jOg5KJRma6BN07JV7d5pyjb

FILE NAME: ICI (ICI) DATE: 1967 DOC#: ICI040 DOCUMENT DESCRIPTION: Excerpt-Moody's Industrial Manual ? branch t C a n a d a fc*, Lin te re s t] ia. T r u s t Co., % 10 a n d S ij j lly register i p a r t a t r* ic e a t 106 h :h y e a r then e a f t e r a t 1 be redeen-- ro u g h sink! h a n 6% int3 s i n k in g fu* ig. 15, 1960ifc in excess^ 972. sufTitigl ^ debentnig' i t i l to t a l pa illy. Compaq p r o v id e d thg a s s e ts belo* deem deba, a n d secca* a s s e ts , pres l a y b e issue* le a ss e ts phi res equal * l e d d e b t and 3 fiscal yean } im es inters* be outstani > m p an y may f te r M ay'll id paym ent y a n d (bfck e s h a v e bei L n e t currest 00,000. lstruction* d undergrm nd ng capital i o n May-4 is, W inm pel v e n tu re s ffl er unit. ' finding. Dp. le debenture b y Western try , stokbg n to commt* 3 share f* 0 b a n k - kn* ducers JM* ,000,000 sB*i m s h iJW - ie ra l indesi 0 S to c k ? r: N atie s * M ontJeala a t d .t Toronto 1 1963 . 1 .U & * preci 10... MOODY'S INDUSTRIAL MANUAL 2645 a? IMPERIAL CHEMICAL INDUSTRIES LTD. History: R egistered u n d er law s o f G reat p ita ln , D ec. 7, 1926. jusinoss: P rincipally engaged in th produc tion of a c id s , a lk a lie s , c o a te d fa b r ic s , d ru g s , IC I (O rganics) Inc., U. S. A. (see ap p en d ed statem ent). ? IC I A m erica Inc. C hem ical M an u factu rin g Co. of D elaw are O fficers: S. P. C ham bers, Chnrn.; R. H ol- ro y d , P .. C. A llen, L. H. W illiam s, L ord B eech in g , D ep. Chinn.; A . G. W oods. Sec.; A. E. F rost, T reas. dyestuffs, ex p lo siv es, fe rtiliz e rs, s y n th e tic Xbres, p a in ts , p e s tic id e s , p e tr o le u m c h e m ic a ls |pd pilastics. p ro p erty - C o m p a n y operates over 100 f a c tories in t h e U n ite d K in g d o m , in c lu d in g Ilion d e v e lo p m e n t in N o rth Y o rk sh ire , Covering 2,000 a c re s , a n d o n w h ic h 23 p la n t s *ere in o p e r a t io n i n <1960. Capital E x p e n d itu re s in 1966 a m o u n te d to gl97 m illio n (in c l. 5 2 m illio n o v e rs e a s ) jfaihfit 180 m illio n i n 1965. M a jo r p r o j e c ts yere ex p an sio n of e th y le n e an d p la stic p ro duction. - Principal S ubsidiaries: British V is q u e e n L td . (U . K .) K2 F ibres L td. (U. K.) Imperial M e ta l In d u s trie s L td . (U. K.) This g ro u p c o m p r is e s 47 c o m p a n ie s , in cluding Im p eria l M etal In d u stries (K ynoch) L td., L ig h tn in g F asten ers, L td., Range B oilers, L td., M arston E xcelsior, Ltd. Scottish A g ric u ltu ra l I n d u s tr ie s L td . Industrias Q um icas A rg e n tin a s S. A. Imperial C h em ical I n d u s trie s of A u s tra lia & New Z e a la n d L td. Imperial C h em ical I n d u s trie s of C a n a d a L td . Canadian In d u s trie s L td . (see a p p e n d e d s ta te m ent). ------ -- ICI (E u ro p a) L td . Alkali &: C h e m ic a l C o rp . o f I n d i a L td . Chemicals & F ib re s o f In d ia L td. Magadi S o d a Co. L td . (K en y a) ICI (S o u th A fric a ) L td . Principal Affiliates: U nited K ingdom : E nglish Sew ing C otton Co. L td., Im p e ria l A lu m in iu m o. L td ., B ritish T itan P ro d u cts Co. L td., K lin g er M an u factu rin g Co. L td., L ister 8c Co; L td ., P h illip s -Im p e ria l P e tro le u m Ltd.',. C a r rin g to n Sc D e w h u rs t G ro u p L td ., V iy e lla In tern atio n al L td., Y orkshire Im p erial M etals L td. B o rd er C hem icals Ltd. S o u th A frica: A frican E xplosives & C hem ical In d u stries L td., S outh A frican N ylon S p in n e r s (P ty .) L td ...... U. S. A.: F ib e r In d u strie s, 3hc.t R u b ic o n C hem icals, Inc. I n O ct., 1962 j o i n t l y w ith E m p re s s a N a c io n a l C alvo Sotelo, an d Sociedad A noning C ros of B arcelona, Spain form ed A lcudia E m pressa P a ra L a In d u s tria Q uim ica, S.A., fo r m a n u fa c tu re and sale of petro-chem icalg. and plastics in Spain. I n 1963 jo i n tl y w ith C e la n e s e C o m . o f A m e r ic a fo rm e d Ic a ta l P la stic s L td . o w n in g 59% in th e new com pany. , I n J u l y 1964 B r it is h N y lo n S p in n e r s L td . (form erly ow ned jo intly w ith C ourtauids, Ltd.) becam e a fully ow ned subsidary. In consideration thereof holdings of C ortaulds o rd in a ry sto c k (37%%) w e re co n celled an d c o m p a n y a g r e e d to p a y 2,00(1,000 a y e a r f o r 5 yrs. I n 1964 j o i n t l y w ith P h illip s P e tr o le u m Co. form ed Phillips Im perial Chem icals Ltd. S yd ney, A u stralia to m an u factu re sy n th etic ru b b e r and carbon black. Directors: S. P .. C h a m b e r s , P .. C. A lle n , M. J. S. C lapham , V iscount. A m ory, S. F. B urm an, V iscount C handos, L ord G lenconn er, G. F. W hiteby, P . T. M enzies, H. Sm ith, D. J. R obants, F. C. B ag n all, E. J. C allaxd, J. D. Rose, J. E. Sisson, R. S. W right, L ord B eeching, S ir R onald H olroyd, L. H. W ilham s, Vdsoount B oyd of M erton, H. G. L eslie Lazell, J.,H . Tow nsend. Auditors: P ric e W a te rh o u s e & Co., and T hom son M cL intock & Co. A n n u a l M eeting: M arch 30th. N o. o f S to c k h o ld e rs : D ec. 31, 1906: P r e f e r r e d , 50,701; c o m m o n . 562,115. No. of E m ployees: (group in U. K.) D ec. 31, 1966,1124,000. O v e rs e a s , 47,100. T ra n sfe r Offices:D ean B rad ley H ouse, H o rseferry , L ondon. S. W. 1, E ngland. H ead Office: Im p e ria l C hem ical H ouse, M illb a n k , L o n d o n , S. W . 1, E n g la n d . C o n s o lid a te d S a le s , y e a r s e n d e d D ec. 31 ( ) : 1959 ... 508,508,900 1963_____ 624.000,000 1960 1961 -- 558,428,000 1964_____ 720.200,000 -- 550.402,000 1965_____ 815,900,000 1962------- 578,928,000 1966_____" 885,900,000 D istribution of Sales, years (1,000,000): 1966 U . K . ------------------- 442.8 A b r o a d --------------T o ta l ------------------ 442.4 885.2 ended 1965 422.9 393.0 815.9 D ec. 31 1964 373 8 346 4 720.2 INCOME A C C O U N T S C O N S O L ID A T E D 1965 Ifa n u fa c tu rin g & t r a d i n g p r o f it_____ . A u d ito rs' f e e s _________ _______________ 189,868,000 268,000 Employees' p e n s io n f u n d , e tc ________ O bsolescence 8c d e p r e c i a t i o n ______ _ 14,000,000 76,800,000 Net tr a d in g p r o f i t ________________ _ Bevenue fr o m a s s o c ia te d co s., e tc ___ Revenue f r o m s e c u r i t i e s ____________ Bevenue f r o m p r o p e r t i e s _____________ M iscellaneous in c o m e ________________ 98,800,000 7,500,000 900,000 L50.CI0 Total i n c o m e _______________________ 108,700,000 - - INCOM E ACCOUNT, YEARS ENDED DEC. 1965 HU964 1963 194.120,000 185,400,000 149,610,000 >220,000 200,000 168,000 12,200,000 10,800.000 10.596.000 68,300,000 61,300,000 54.145.000 112,900,000 7,400,000 800,000 113,100,000 S 10,800.000 1,100,000 84.701.000 013,593,000 780,000 2 ,200,000 123,300,000 2,500,000 127,500,000 1,895,000 100.969.U0O 31 1962 126,136,000 157.000 8.813,000 44.489.000 72.677.000 09.706.000 969.0001 1,223,000j 84.575.000 1961 114,809,000 151,000 8.287.000 40.505.000 65.866.000 6.152.000 2.236.000 74,254,000 1960 139,490,000 140,000 8.463.000 37.258.000 93.629.000 5.565.000 1.841.000 101.035,000 `Provision f o r ta x e s , e t c . .............--. D ebenture 8c lo a n I n t e r e s t ____ - _____ Employees p r o f it s h a r i n g ____ ____ HI 28,000,000 17,000,000 6,000,000 22.500.000 11.600.000 10,600,000 47.200.000 8,800,000 10.300.000 41.575.000 9.180.000 6.880.000 .G roup n e t i n c o m e _________ ________ M inority in t e r e s t , e t c . _______________ Undlstrib. su b sid . p ro f, a p p llc . to I.CJL 57.100.000 4.900.000 1.600.000 78.600.000 4.400.000 5.600.000 61.200.000 3.600.000 7.400.000 43.334.000 2.838.000 5.414.000 f-N et in c o m e ( c o m p a n y o n ly ) _____ E" Bevenue r e s e r v e ______ ;______ ______Capital r e s e r v e __ __________ ____ __ e r e n c e d i v i d e n d s _______________ n a r y d iv id e n d s _____________ _ B aelatnacxe of onr dyiev ai dr e__n_d_s___________;_________ QjNe a f t e r d e d u c ti n g in c o m e ta x . E lric lu d irig ~ 3,200,000 d i v i d e n d fro m " 50.600.000 600,000 11,000,000 32.400.000 16.600.000 N il C o u rtau T d s; 68.600.000 22.900.000 13,000,000 1, 000,000 31.700.000 50,200,000 4.100.000 13.000. 000 1.100.000 32.000. 000 35.082.000 2.795.000 6,000.000 1.064.000 25.223.000 U" .N il ______________________ _ 1963; 4 ,7 2 9 ,TOO;' 1962, 2,876,0Od S I n c lu d e s B r it is h N y l o n S p in n e r s L td . f r o m A u g . 1. * `S A f te r d e d u c tin g p r o p o r tio n o f in c o m e ta x . BALANCE 8 H E C T 8 ASSETS fflLand, b u ild in g s , e t c . _______________ Obsolescence 8c d e p re c ia tio n N et p r o p e r t y _____________ Patents, e t c . _-- -- - ___ _________ ____ B lnvest. in asso c , c o m p a n i e s __ _____ jnv. in su b s , n o t c o n s o lid a te d ________ Tax re s e r v e c e r t i f i c a t e s _____________ G o o d w i l l __ _____________________ ___ a h o rt-te rm d e p o s its ________________^ M a rk e ta b le i n v e s t m e n t s _,,________ fiI n v e n t o r i e s _____________________ . . . . Sundry d e b t o r s ____________________ __ ' T o t a l ________________________ ____ CONSOLIDATED BALANCE SHEET. AS mWG 01965 1964 1,307,300,000 1,121,100,000 948300,000 428.600.000 362.800.000 304.600.000 878.700.000 758.300.000 644.200.000 1,900,000 1,700,000 1,700,000 118.900.000 108.200.000 90,800,000 O F D E C . 31 1963 807,231,000 239.287.000 567.944.000 1,774,000 147.240.000 38.700.000 6,700,000 19.200.000 24.100.000 195.800.000 197.700.000 1,481,300,000 38.700.000 7,000.000 12.900.000 l-r.. 26.900.000 186,600,000 180,000,000 1,320,300,000 38.700.000 8,800.000 28.700.000 34.100.000 . 156,000,000 162,600.000 1,165,600.000 7,863,000 35.019.000 25.995.000 129.902.000 131.098.000 1,046,835,000 LIA BILITIES P referen ce s to c k . . . . . . . . _____________ O rdinary s to c k _______ _______ _____ Capital a c c o u n t ______________________ J jv e n u e a c c o u n t __ __________ _______ Minority I n t e r e s t _________________1;____ D ebentures 8c s e c u r e d l o a n s _________ -future U. K . in c o m e t a x __________,, fa n k o v e r d r a f ts ___________________ ___ Sundry c r e d ito r s , e t c . _____ ;______ _ Provisions fo r diva., ta x e s , etc. 34,700,000 441.500.000 73.600.000 253.200.000 71.800.000 54.200.000 125,000,000 . 94,400,000 184.200.000 148.700.000 34,700,000 437.900.000 34,700,000 418.700.000 60.800.000 42.800.000 157.800.000 . 151,500,000 49.600.000 32,600,000. 123.900.000 97.100.000 176.700.000 149.200.000 56.400.000 17.700.000 96.100.000 85.800.000 137.800.000 124.000,000 34.737,000 415.749.000 42.291.000 132.734.000 40.781.000 i 18,594,000 66.081.000 1161,.290243..000000 115.741.000 1 T o tal _____________________________ 1,481,300,000 .1,320,300,000 1,165,600,000 1,046,835,000 31.975.000 7.487.000 6.719.000 38.394.000 2.381.000 3.173.000 32.840.000 3.604.000 5.500.000 1.064.000 22.672.000 N 27.739.000 3.668.000 8.734.000 34.113.000 1.738.000 3.574.000 28.801.000 784,000 4.500.000 01,064,000 0)22,453,000 N il 1962 755,386,000 197.586.000 557.800.000 1,364,000 129.204.000 183.000 219.000 1961 700,743,000 159.230.000 .541.513,000 2.573.000 56.748.000 1.204.000 , 350,000 77M20 11.493.000 18.188.000 128.672.000 117.440.000 7,8087000 17.038.000 7,960,000 137.510.000 ,V 108,413.000 971,645,000 881,117,000 *.11. 34,737,000 . 269.202,000 40,543,000. . 140,261,000 . 33.512,000 t i ' 11,446,000 59.237.000 58.097.000 215.693.000 108.917.000 971,645,000 34,737,000 266,608,000 39.744.000 58.751.000 .. 31,583,000 10.281.000 62.332.000 70.006.000 203,797,000 `fr 103,278,000 881,117,000 40.472.000 4.427.000 8.564.000 47.572.000 2.378.000 5.494.000 39.700.000 13.447.000 4,000,000 3)1.064.000 021,189,000 N il 1960 641.483.000 124.026.000 517.457.000 2.418.000 49,988,000 3.832590,.000000 9.078.000 5.649.000 - 6,153,000 237.243.000 93.397.000 825,562,000 34,737,000 -251,589,000 el 36,478,000: ? 60,110,000 *-141,947,000 9,328,000 53,676,000 1 ` 67,579,000 - 169,583,000 . 100.535.000 825,562,000 >V ite w BASIC INDUSTRIES the Manual. This feature; kept up-to-date and revised from year to year, should prove a valuable source of reference to bankers and investors, as w ell as an indis pensable compendium of industrial statistics for the preparation of special reports and economic studies. 646 MOODY'S INDUSTRIAL M^N L Q] T h e s e ' in v e stm e n ts h a v e b e e n ta k e n198a6t-91. O ffered a t 98%% t o o rd in a ry , p re -cost, le ss a m o u n ts written o ff. -[__J f e r e n c e and- lo a n sto ck h o ld e rs. S ep t. 1965. *32 M a r k e t v a l u e : 1966, 24,100,000: 1965, * 2 7 ,- L i s t e d o n L o n d o n S to c k E x c h a n g e .................... "500,000; 1964, iSL33.700.000;:1963, 26,365,000; 1962, P r ic e R a n g e: 1966, 10S%-fl2%J 1965, 1W % - 19,306,000; 1961, 8^43^00; 1900; 6 ^ 0 ^ 0 0 . 102% , ; BIAt or under'cost. . / 7. U n s e c u re d L o a n S t o c k , 1970-81: R] AH&i4ng e n tir e ly f rom conanffiidtton o f O u ts t a n d in g , S w . F e s . 50,000,000. O f f e r e d i n 3 n u S h N ylon S pinner* XAAj 1966 a t 99%. L iste d o n Z u ric h B o u rn e. . [f]At co st or a s rev a lu ed . U ]In c lu d e s 257 BubBddlairiieB (19 6 5 ,2 1 7 ). LONG-TERM DEBT .P r ic e R ange; 1966. 100%-97%. 8 8% Unsecured Loan Stock, 1988-93: O u ts td g . 60,000,000. O ffe re d a t 96% w ith p re fe re n c e to sto c k h o ld e rs rand b o n d h o ld e rs 1 . 41/ 2% U n s e c u r e d L o a n S to c k , d u e 1972-74: A u th o rized an d o u tsta n d in g , - D ec. 31,' 1966, 30,000,000; d u e M ar. Si. 1974. O ffered t o sto c k h o ld ers M ar. 10, 1954. C a llab le a s a w h o le or In any part at par on or at any tim e after Mar. 31, 1974. O n liq u id a tio n o f co m p a n y e n titled to 101. Listed on London Stock E x change. P r ic e R a n g e : 1966, 84-75% ; 1965, 86-77%. Z 5*/2% Unsecured Loan Stock, 1977-79:A u th o riz e d , 40,000,000; o u ts ta n d in g , D ec. 31, 1966, 254,750; r e d e e m a b l e aft p a r J a n . 1, h i U .K . S e p t. 21. 1966. L isted on L ondon S tock E xchange. P r i c e R a n g e : 1966, 107%-106%. 9. 61/ 2% B e n d k d u e 1982: O u ts ta n d in g U . S. $30,000,000. O ffe re d a t 99 % i n E u r o p e b y J. A . S c h r o d e r W a g g & C o., L td ., L o n d o n a n d g ro u p o f b a n k s, M a rc h 1967. 10. Subsidiary And Other Loans: C om pany has b an k loans o u tstan d in g at 8Va% d u e 1973-74 f o r 8,000,000 a n d 2,500,000 a d d itio n a l loans. 1979; r e g is te r e d a n d tr a n s f e r a b le i n a m o u n ts L o a n s o f s u b s id ia r ie s a r e o u ts ta n d in g in a n d m u ltip le s o f 5 0 . I n t e r e s t J & J 1. C a lla b le U .K . a n d a b ro a d in c u r r e n c ie s o f r e s p e c tiv e as a w hole o r in p a rt on 3 m o n th s' n o tice a t a n y t i m e o n o r a f t e r J a n . 1, 1977 a t p a r . O ffe re d a t 96% i n D e c ., 1956, to p r e f e r e n c e c o u n tr ie s fo r a to ta l e q u iv a le n t o f 77,600,000 a t 4 t o 8% p a y a b le v a rio u s ly t o 1991. a n d o rd in a ry sto c k h o ld e rs o f re c o rd N o v . 23. C A P I T A L 1956. R ig h ts e x p i r e d J u n e 2. 1957. L isted on L ondon S tock E xchange. P r i c e R a n g e : 1966, 86% -80; 1965, 91-84. 3. 4%% Swiss Franc Bonds, due 1977: D a t e d J u n e , 1962; o u ts ta n d in g , D ec. 31, 1966, S w F e s 60,000,000; d u e J u n e 30, 1977 a t p a r . N o n - c a ll a b le d u rin g firs t 4 y e a rs . I n te r e s t J u n e 30. L isted in Z u rich B ourse. P r ic e R a n g e : 1966, 95% -8% ; 1965, 102%-90. "Sw iss F r a n c B o n d s , d u e 1982: Is s u e d J u l y 15, 1964: O u t s t a n d i n g S w F e s 60,000,000 d u e 1982. C a ll a b le b e g i n n i n g J u l y 31, 1968 a t 103 a n d d e c l i n i n g p r i c e s t h e r e a f t e r . . L isted o n Z u rich B ourse. P r ic e R a n g e : 1966, 100-89%: 1965, 104% -93% : 1. Imperial Chemical Industries, Ltd. 5% cumulative preference: par 1: A u th o riz e d , 34.736,773; is s u e d a n d p a id u p , 34,736,773; p a r 1 . Has preference as to assets and dividends. D iv id e n d ra te ch a n g ed fr o m 7% to 5% J u n e 17. 1954. Issu e d in exchange for shares of acquired com panies. The shares w ere con verted Into sto c k in 1935.-- R e g u l a r d iv i d e n d s p a i d F & A 1. P r i c e R a n g e : 1966 1965 1964 1963 1962 H i g h ______ 1 5 /3 16/1 1 6 /3 17/0 16/10 L o w ______ 1 3 /3 13/10 4 4 /0 14/7 13/6 5. 6%% convertible unsecured loan stock due 1972-77: D a t e d F e b ., 1962; o u t s t a n d i n g , D ec. 31, 1966, 18,900,060. C a lla b le a t p a r, b e g in n in g J u n e 30, 1972 o n 3 m o n th s' notice. In te re st J& D . 2. Imperial Chemical Industries Ltd. ordi nary; par 1: A u th o riz e d a n d o u ts ta n d in g , D e c . 31, 1966, 441,507,796 o rd in a ry s to c k u n its o f 1 . I s s u e d in F e b .- M a r ., 1962 a s a n a l t e r n a t i v e offer for ord. sh ares of C o u rtau ld s L td., on basis of 25 of loan stock for each 10 of C o u r t a u l d 's o r d . s to c k . L isted on L ondon Stock E xchange. P r ic e R a n g e : 1966, 96% -85% ; 1965, 1113/8-93%. 6. 7Vi% Unsecured Loan Stock, 1986-91: O u ts ta n d in g 50,000,000. R e d e e m a b le a t p a r Is en titled to surplus assets a fte r rep ay m en t of all capital. Is en titled to profits d istrib u tab le by w ay of dividend, a fte r paym ent of 5% p lu s a rre a rs (if an y ) on th e p re fe re n c e s t o c k . H a s o n e v o te p e r 1 o f s to c k . Is* su ed in exchange fo r sh ares of a c q u ire d com- Sa n ie s . T h e s h a r e s w e r e c o n v e r t e d in t o s to c k 1 1935. CANADIAN INDUSTRIES LTD. D iv id e n d s p aid : 1927 t o 1929. 8% ; 1930, 6%: un, \i 2. 6 ' 1933, 7%%: 1934. 193S tn d 1936, 8%; 1937. 8 }>L/%v ,i i38 t-wo 1945; i*nTMch.., 08%/c ; 1946 t o 1949, 10%: 5 0 , 12%; 195f a n d I9"53S2 $ 13%; 1953, 15%; Q31954 t o 1956, 10%; 1957, 12 S31958, 8%; 1909, n y 4%; I960 to*1962, 13%%j 0 1 963, 12%%; 1964-66, 12%%; t o A pr. 5, 1967 ?%% - ' * `Also p aid 100% i n s to c k In J u n e , 1654; c a sh In clu d e s 9% p rio r t o s to c k d iv id en d . Q}Also' 50% sto ck p a id b e fo r e c a s h d iv. P r ic e R ange: 1966 1965 1964 1963 1962 H igh______ 45/3 . 49/3 49/7 50/10 62/0 L o w _____ S3/1 4 1/9 41/0 35/10 47/0 Registrar: W . N . L a c o n . Listed: A ll c la sses lis te d o n London Stock E xch an ge and q uoted in Birm ingham , Bristol, D u b lin , E d in b u rgh , G la sg o w , L iverpool, Man ch ester. Cardiff, O ldham . N ew castle and Shef field. Ordinary also quoted in Belfast, New port, Paris and Am sterdam . - 1 American Depositary Receipts: T h ere are ou tstand in g A m erican d ep ositary receipts for o rd in a ry re g iste re d sh a re s issued by M organ G u a ra n ty T ru s t C o., N e w Y o rk , o n a sh a re for sh are basis. O u ts ta n d in g , J a n . 1, 1967, 879,559. Dividends (paym ents 1930__ $0.25 1931__ 1933___ 0.179. 1934__ 1936__ 0.29 1937__ 1939___ 0.234 1940__ 1942__ 0.152 1943-44 1946__ 0.161 1947-48 1950__ 0.139 1953___ 0.197 3951___ 031954. 1956__ 0.141 1959__ 0.136 1957__ 1960___ 0 1 9 6 3 _ 0.216 0 1 9 6 4 ___ 1966__ 0.181 0 1 9 6 7 ___ s in c e 1929 fo llo w ): $0.128 0.279 0.302 0.18 0.154 1932__ $0.124 1935__ 0.292 1938-- 0.287 1941__ 0.149 1945__ 0.153 0.205 1949_,,_ 0.188 0.161 0.180 0.14 0.216 1952__ 1955__ E 1 9 5 B __ 0.209 0.140 0.158 B 1961-62. 0.216 0*165. 0.168 1965___ 03A lso 100% in sto ck ; ca sh In clu des $0.128 prior to stock dividend. 0 A lso 50% i n s to c k ; $0.12 p a id p rio r to sto ck div. 0 In c lu d e s $0.095 p r o c e e d s s a le o f rig h ts in 1961. -- - 0 T o A p r il 13. 0 A lso 50% in stock. []A f t e r s t o c k d iv i d e n d . U nlisted T rad in g on A m erican change. S to c k Xx- - VJ* 0] P r i c e R a n g e : 1966 1965 196401963 1962 H i g h ----------------- 6% 6% 7% 7% L o w ....................... 4 % 5U 5% ,6& Si [^A m erican d ep o sita ry receipts. 0 A fte r stk . div.; b e fo re , 9%-7%. (Controlled by Imperial Chemical Industries Ltd H istory: In co rp o rated as C anadian In d u s tr ie s (1954) L td . u n d e r C o m p a n ie s A c t o f C a n a d a F e b . 10, 1954 to c o m p ly w i t h U . S. D istric t C o u rt o rd er, u n d e r w h ich E. I. du P o n t de N e m o u rs & Co.. Inc. w as re q u ire d to term in ate jo in t in terest w ith Im perial C hem ical In d u stries L td. in C anadian In d u strie s L td . P r e s e n t n a m e a d o p te d D e c . 30, 1955. I n 1962 a s u b s i d i a r y a c q u ir e d a s s e ts o f I n t e r p ro v in cial C hem icals L td., E dm onton, a cu s tom p ack ag in g com pany; com pany acq u ired su lp h u ric acid p la n t a t C u tler, O nt., fro m N o ran d a M ines L td. I n 1964 f o r m e d M i ll h a v e n F i b r e s L td . t o consolidate com panys m an-m ade fib res activ ities, su b s e q u e n tly sold 40% of co m m on s to c k o f M illh a v e n to C h e m c e ll (1963) L td . I n F e b . 1965 a c q u i r e d o u t s t a n d i n g s h s . o f C a m p b e ll M fg . Co. L td . f o r 50,000 c o m m o n s h s . ( v a lu e d a t $20 a sh .) a n d $51,000 c a s h ; also acq u ired on A pr. 1 th e D e S a la b e rry p la n t of C an ad ian A rsenals L td. at V alley fie ld , Q ue. fr o m th e F e d e r a l G o v t, f o r $1,500,- B ritish A m erica P a in t Co. L td., C -I-L (L am bto n ) L td. A lso in te re st in P in tu ra s IC I de M exico; W est A frican E xplosives C hem icals L td., L i b e ria , S etterington F e rtiliz e r S ervice L td., P e tro lia G rain an d F eeds L td., CEL-CIL F ib re s L td. Officers: P . C. A lle n , C h m n .; L e o n a r d H y n e s , P res.; E. L. H am ilton, W. T . D. Ross, J. H. S h ip ley , G. S. R o b erts, R. B. W insor, V iceP res.; B. I. M cG reevy, Sec.; E. H. K em p, T reas. D irectors: P. C. A llen, C hm n.; Jam es S in clair, G. B. G ordon. E,, L. H am ilton, L eonard H y n e s , H. a e M . M o ls o n , W*. T . D . R o ss, J . A . M acA u lay , J. H. S hipley, R. B. W insor, G. S. R o b e r ts , T. D 'A r c y L e o n a r d , H . G . R e id , W . G. C. C ashford, G. F. W hitby. Auditors: T o u c h e , R o ss, B a il e y & S m a r t Co. Annual Meeting: I n 1 s t 4 m o n t h s o f y e a r . No. of Stockholders: D e c . 31, 1965: P r e f e r r e d . 765; c o m m o n , 10,400. No. off Employees: D e c . 31, 1965, 10,400. 000 cash . Head Office: C IL H o u s e , 630 D o r c h e s t e r I n 1965 a c q u i r e d B r i t i s h A m e r i c a n P a i n t Co. L td ., V ic to ria , B. C. Business: E n g a g e d I n m a n u f a c t u r e o f a g r i cu ltu ral and in d u strial chem icals; explosives, am m unition, p ain ts and coated fabrics; p las tics and te x tile fibres. In addition to p roducts m an u factu red In Its ow n plants, com pany d istrib u tes a w ide ran g e of chem icals and allied p ro d u cts su p p lied by a n u m b er of leading C anadian, U nited K ing dom , U nited S tates and o th e r m an u factu rers. P ro p e rty : O p e ra te s p la n ts a t 45 lo c a tio n s throughout C anada. Construction Expenditures I n 1966 t o t a l , $44,700,000 (1965, $52,000,000) in c lu d in g a m m o n ia and fe rtiliz e r p la n t n e a r S arn ia, O nt. an d S u lp h u ric acid p la n t a t C opper C liff, O nt. Control: I m p e r ia l C h e m ic a l I n d u s tr i e s o f C anada L td. ow ns m a jo rity of v o tin g com m on stock. Subsidiaries: A lc h e m L td ., C a n a d ia n H a n s o n & V an W inkle Co. L td., C an ad ian S afety F u se Co. L td., C hip m an C hem icals L td., C -I-L P ro d u c ts In c., U. S. A. M illh av en 'In v e s tm e n ts L td., D efense In d u strie s L td., C -I-L In te r n a tio n a l L td ., M illhaven F ib re s L td., C u tler A cid L td ., C a m p b e ll M a n u fa c tu rin g Co., L td ., C -I-L (D alhousie) L td., C o n tin en tal E x p lo siv es (A lberta) L td., D efen se In d u strie s L td., B o u lev ard W est, M o n treal, Q ue., C anada. Consolidated Income Account, years ended Dec. 31 (in C a n a d ia n d o ll a r s ) : C osts & expenses. 1966 $262,478,000 228,612,000 1965 $236,414,000 207,705,000 D e p r e c i a t i o n ______ N et oper. incom e _ I n v e s t , i n c o m e ___ T o t a l i n c o m e _____ 11,670,000 22,196,000 871,000 23,067,000 10,355,000 18,354,000 1,978,000 20,332,000 D eben-t. in t., etc. _ I n c o m e t a x e s ____ M inority interest _ Net income ____ R e ta in , e a rn ., 1-1 _ P r e f e r r e d d i v s . _- C o m m o n d i v s . ____ R e t a i n , e a r n ., 12-31. S T im es chg. earn. E arn ., pfd. sh are - E arn ., com . sh are _ 3,656,000 8,901,000 d65,000. 10,575,000 44:671,000 174,000 6,367,000 48.705.000 6.32 $227.42 1.06 3,596,000 5,878,000 1,024,000 9,834,000 41,214,000 174,000 6,203,000 44,671,000 5.37 $211.48 0.99 C ash flow , com . sh. No. of pfd. sh ares. No. of com. shares E B ef. ine. taxes. 2.25 46,500 9,794,161 2.05 46,500 9,794,161 Sales and Earnings, years to Dec. 31 (in $): N et N et No. of Earn. 1964 Sales In co m e S h ares on Com. 212,232.000 9.703,000 8,655,921 1.10 1963__ 184,207,000 7,704,000 8,655,921 0.87 ) 1962.. 1961.. 1960.. N et S a le s 171.629.402 164.876.026 170,737,206 N et N b. of Earn* . In c o m e S h a re s on Com. 6.224,116 8,655,921 0.70 5,281,418 8.655,921 0.59 6.575.270 8,655,921 0.74.* Consolidated Balance Sheet, as (in C anadian dollars): A ssets: C a s h ______________ 1966 $14,762,000 @ M a rk e t s e c u r . __ 495,000 R e c e iv a b le s , n e t __ 39,063,000 0 1 n v e n t o r i e s _____ 53,120,000 P r e p a y m e n t s _____ 1,733,000 of Dec. 3$ 1965 $6,938,000 19,703,000 37,981,000 47,743,000 2,338,tH T otal c u rre n t. [iJN et p r o p e r t y ___ L a n d .................. M tge. receiv ab le _ T a x r e f u n d _______ In v est, in oth. cos. D eferred charges _ $109,173,000 151,615,000 5,105,000 --------- 636,000 4,880,000 1,106,000 $114,703,000 119,522,000 4,252,000 245,000 --i 2,902,000 790,000 T o ta l _________ $272,515,000 $242,414,000 L iabilities: N o te s p a y a b l e ____ A ccounts pay., etc. D iv s . p a y a b l e ____ Incom e tax r e s . _ $12,496,000 26,131,000 2,002,000 9,665,000 $5,682,000 27,670,000 2,042,000 2,401,000 T otal c u rre n t. D e b . 3% s. 1974 ____ D e b . 5% s, 1977 ____ D e b . 5 % s ,'84 _____ D e b . 7%S, 1986 ____ F u t u r e in c . t a x ___ M inority in te re st _ 7% % p fd . s tk . ($20) 0 Com m on stock R etained earnings $50,294,000 19,951,000 20,000,000 30,000,000 15,000,000 2,713,000 9,661,000 2,325,000 73,866,000 48,705,000 $37,795,000' 20,645,000 20,000,001 30,000,0. -M g 2,713,000 10,399.000 2,325,000 73,866,000 44,671,0jj0 T o ta l -------------- $272,515,000 $242,414,000 N et cu rren t assets $58,879,000 $76,908/# N e t ta n g . com . sh._ $12.31 $12.10 0 D e p r e c ia t io n _ $119,909,000 $110,013,000- 0 L o w e r c o s t o r m k t . 09,794,161 n o p a r sh* B M k t. v a l.: 1966, $495,000; 1965, $19,696,000: N o te : A b o v e a c c t s . in c l . c e r t a i n sub*. 0 b a s is of fis c a l y rs . e n d e d S e p t. 30 or.Nov^SO* Debenture*: Canadian Industries Ltd* sink* ing fund debenture 3%>, due 1974: A U T H O R IZ E D -- A n d i s s u e d $25,000,000; out s ta n d in g , $20,931,000. D A T E D --N o v . 15. 1954. P M A T U R IT Y --N o v . 15. 1974. . _ IN T E R E S T --M & N 15 a t a n y b r a n c h o f B s of M ontreal in C anada. P rin cip al and inter* payable in law fu l m oney of Canada, > MOODY'S INDUSTRIAL MANUAL 2647 fR U STEE--R o y al T ru s t Co., M o n treal. D EN O M IN A T IO N -- C o u p o n , $1,000: r e g is te r able a s to p r in c ip a l; f u l l y r e g is te r e d , $1,000, $5,000. $10,000 a n d a u t h o r i z e d m u l ti p le s o f $1,gOO in e x c e s s o f $10,000. C & R i n t e r c h a n g e a b l e . CALLABLE--A s a w hole o r in p a rt on a t least 30 d a y s ' n o t i c e a t a n y t i m e t o N o v . 14. in c l.. is fo llo w s: 1967TM 101.00 1968____ 100.80 1969____ 100.60 1970-- 100.40 1971____ 100.30 1972____ 100.20 1973-- 100.10 1974_____100.00 C om pany m ay also p u rc h a se d e b e n tu re s in open m a r k e t o r b y p r iv a te c o n tr a c t a t n o t exceeding ab o v e re d e m p tio n p ric e p lu s u p to 14 o f 1% o f p a r o f d e b e n t u r e s so p u r c h a s e d . Also c a lla b le fo r s in k in g fu n d (w h ic h see) It 100. SINKING FU N D -- A n n u a lly , cash (o r d e b e n tures! s u f f ic i e n t t o r e t i r e a t 100 o n e a c h M a y 15 d e b e n t u r e s a s f o llo w s : $500,000, 1960 to 1963: 750.000, 1964 to 1968: $1,000,000, 1969 t o 1971: $1,250,000, 1972 t o 1974. SECURITY--D ire c t o b lig a tio n s o f th e c o m pany b u t n o t se c u re d b y m o rtg a g e . CREATION O F A D D IT IO N A L D EB T--E x cep t for p u r c h a s e m o n e y m o r t g a g e s o r a s s u m p ti o n of e x is ti n g li e n s o n p r o p e r t y h e r e a f t e r a c quired, c o m p a n y m a y n o t (1) m o rtg a g e a n y assets u n le s s d e b e n tu r e s a r e e q u a lly a n d ratably secu red , e x c e p t fo r a n y se c u rity (other th a n on fixed a sse ts) g iv en to se c u re cu rren t lo a n s: o r (2) c r e a te a d d itio n a l fu n d e d debt of w h ic h th e m a n d a to r y re tir e m e n t p r o vision in a n y 1 2 -m o n th p e r io d w o u ld r e t ir e b g reater p ercen tag e of such additional funded d e b t th a n p e rc e n ta g e of d e b e n tu re 33As d u e 1974 r e q u i r e d to b e r e t i r e d f o r t h e sinking fu n d in sa m e p e rio d ; p ro v id e d th a t the c o m p a n y m a y c r e a t e f u n d e d d e b t e n titled to s in k in g fu n d p a y m e n ts of p ro p o r tionately g re a te r a m o u n t th a n th o se re q u ire d for d e b e n t u r e s so lo n g a s f u t u r e p a y m e n t s in each c o n c u r r e n t 1 2 -m o n th p e rio d a r e in creased p ro p o rtio n a te ly ; p ro v isio n s u n d e r th is clause (3) d o n o t a p p ly to a d d itio n a l fu n d e d obligations u p to a m o u n t e q u a l to 25% o f to ta l funded o b lig a tio n s to b e o u tsta n d in g . DIVIDEND R E S T R IC T IO N S -- C o m o an y m a v not b y p a y m e n ts P n , o r d i s tr i b u ti o n s to , c o m mon, r e d u c e th e a g g r e g a te o f (1) a m o u n t p a id up o n c o m m o n , (2) c o n s o l i d a t e d c a p i t a l s u r plus a n d (3) c o n s o lid a te d e a r n e d s u r p lu s (a s defined), b e lo w $50,000,000 n o r m a k e a n y s u c h p aym ent o r d is tr ib u tio n w h e n a g g re g a te Is below t h a t a m o u n t* n r n v id e d t h a t if a n y p r e ferred o r o th e r sto ck is issu e d o th e r th a n fo r cash to c o m m o n , s u c h is s u a n c e is d e e m e d a payment o r d istrib u tio n to com m on. PURPOSE--P ro ceeds, to g e th e r w ith com m on itock fin a n c in g , f o r r e p a y m e n t o f $18,000,000 loan f r o m p a r e n t c o m p a n y ; to a c q u i r e a n d co m p lete *JT e r y l e n e " p l a n t a t M i llh a v e n a n d for p la n t a d d itio n s a t C o rn w a ll. B e lo e il. Brow nsburg an d S haw inigan. O FFER ED -- ($25,000,000) i n C a n a d a a t 100 ( p r o ceeds to c o m p a n y , 98% ) o n O c t. 26, 1954 b y A . H A m e s 8c. C o ., L td .. T o r o n to . . EBPRICE R A N G E -- 1966 1965 1964 - H ig h _____________ 85% 88% 88% "Low ____________ 81% 85 87 {^C anadian funds. 1963 1962 8% 88 86% 83 2. Canadian Industries Ltd. debenture 5%*, tee 1977: ^AUTHORIZED--o p e n : o u ts ta n d in g . M77 se ries, $20,000,000. DATED-- D ec. 1. 1957. Ma t u r i t y -- D e c . l . 1977. IN T E R E S T --J& D 1 a t a n y b ra n c h in C an ad a of B ank of M ontreal. P rin cip al and in terest payable in law ful m oney of Canada, T R U S T E E --R o y a l T ru s t Co., M o n treal. D E N O M IN A T IO N -- C o u p o n , $1,000; r e g i s te r a b l e a s to p r i n c i p a l : f u l l y r e g i s t e r e d , $1,000, $5,000, $10,000 a n d a u th o r iz e d m u ltip le s o f $1.000 in e x c e s s o f $10,000. C & R I n te r c h a n g e a b le . C A L L A B L E --A s a w h o l e o r i n p a r t a t a n y ti m e o n a t l e a s t 30 d a y s ' n o tic e a t 110 to N o v . 30. 1967, in c l., a n d a t 1% le s s e a c h y e a r t h e r e a f t e r to 100 a f t e r N o v . 30, 1976; p r o v id e d , h o w ever. no d ebentures m ay be redeem ed before D e c . 1, 1972 t h r o u g h b o r r o w i n g s a t a n i n t e r e s t c o s t o f le ss th a n 5.90% p e r a n n u m . C om pany m ay also p u rch ase d eb en tu res in open m ark et or b y p riv ate contract at not exceeding above red em p tio n price plus cost o f p u rc h a s e , u p to % o f 1% o f p a r of d e b e n tu re s so purchased. D eb en tu res acquired to be cancelled. SECU RITY --D irect ob lig atio n s of com pany b u t n o t secu red b y m ortgage. C R E A T IO N O F A D D IT IO N A L D E B T --S a m e a s d e b e n t u r e 3 % s d u e 1974. D IV ID EN D R ESTR IC TIO N S-- C om pany m ay n o t by p ay m en ts on, o r d istrib u tio n s to. co m m o n , re d u c e th e a g g re g a te o f (1) a m o u n t p a id u p o n co m m o n , (2) c o n so lid a te d c a p ita l s u r p lu s a n d (3) c o n s o lid a te d e a rn e d s u rp lu s (as d e fin e d ), b e lo w $65,000,000 n o r m a k e a n y s u c h p a y m e n t o r d i s t r i b u t i o n w h e n a g g r e g a t e 1M below th a t am ount. PU R PO SE--P ro ceed s to p ay b an k loan an d fo r p la n t expansion. O F F E R E D -- ($20,000,000) in C a n a d a a t 98% ( p r o c e e d s to c o m p a n y , 95% ) o n N o v . 14, 1957 b y A. E. A m es & Co. L td., T oronto, an d a s s o c ia te s. 3. Canadian Industries Ltd. debenture 5%s. due 1984: O u ts tg ., 1984 s e r ie s , $30,000,000. H e ld p r i vately. P roceeds fo r new and expanded p lan t facilities for am m onia, fertilizer, chlorine and c a u stic soda: fo r e x p a n sio n of T.N .T. p ro d u ctio n and to im p ro v e fe rtiliz e r d istrib u tio n facilities. D a te d D ec. 1, 1964: d u e D e c . 1, 1984; p r i n cipal an d in te re st (J& D 1) p ay ab le in law ful m o n e y o f C a n a d a . R o y a l T ru s t Co., M o n tre a l tru s te e . C a ll a b le a t a n y ti m e a t 105% to N o v . 30, 1969; re d u c e d p ric e s a n n u a lly th e r e a f t e r to 100 a f t e r N o v . 30, 1983; h o w e v e r , n o t c a ll a b le b e f o r e D e c . 1, 1974 f r o m f u n d s b o r r o w e d a t in te re st cost of less th a n 5%%. Co. m ay also p u rch ase debs, in open m a rk e t o r by p riv ate contract at n o t exceeding above re d em p tio n p rices p lu s cost of purch ase, u p to % o f 1% of p a r o f d eb s, p u rc h a se d . D ebs, acq u ired not to be reissued. N ot secured. F o r restrictions on creation o f a d d i t i o n a l d e b t , s e e d e b . 3 % s, 1974. Co. m ay n o t by p ay m en ts on, or d is tri b u tio n s to, com m on, red u ce th e aggregage of (1) a m o u n t p a id u p o n c o m m o n , (2) c o n s o li d a t e d c a p i t a l s u r p l u s a n d (3) c o n s o lid a te d e a r n e d s u r p lu s (as d e fin e d ), b e lo w $75,000,000 n o r m ake any such pay m en t or distrib u tio n w h en ag g reg ate is below th a t am ount. I s s u e d ($30,000,000) p r iv a te ly a t 100 on. N o v . 27. .1964_________ ______________ ___________ Subsidiary Debt: M illh a-w n F ib re s L td . oortstg. $15,000,000 7%s f i r s t m tg e . b o n d s d a te d D e c . 1, 19G6, d u e D e c . 1, 1986, J& D 1 . C a lla b le to N o v . 30, 1967 a t 107.50 a n d d e c lin in g p r ic e s th e r e a f te r . Issu e d ' in C a n a d a a t 100. Capital Stock: U Canadian Industries Ltd. 7Vi% c u m u l a ti v e preferred; par $50; A U T H O R IZ E D -- 46,500 s h a r e s ; o u ts ta n d in g , 46,500 s h a r e s ; p a r S50. PR EFER EN C ES--H as p referen ce fo r assets an d dividends. D IV ID EN D R IG H TS--E n titled to cum ulative d iv id e n d s o f $3.75 p e r s h a r e a n n u a lly . D IV ID EN D RECO RD -- In itial dividend of 93% c e n ts p a id O ct. 15, 1954 a n d q u a r t e r l y th e re a fte r. V O T IN G R IG H T S--H as no v o tin g p o w er ex cep t on q uestions affecting rig h ts of p re ferred , sale or m erg er of com pany or increase o r d ecrease of cap ital o r fa ilu re to e a rn p re fe rre d dividend fo r last p reced in g y ear, w hen i t is e n ti tl e d to 10 v o te s p e r sh a re . LIQ U ID A TIO N R IG H TS-- In liquidation, en title d to rep ay m en t of cap ital in p rio rity to com m on shares. C A L L A B L E --N o t c a lla b le . ISSU ED -- Issued to g e th e r w ith D u P o n t of C an ad a S ecu rities L td. p referred in exchange fo r C an ad ian In d u strie s L td. p referred u n d er p la n of segregation, one sh are of each issue fo r one sh are of C anadian Industries p re fe rre d . LISTED -- O n M o n treal an d T oronto S tock E x changes. T R A N SFE R A G EN T--R EG ISTR A R --N atio n al T r u s t Co., L td ., M o n tre a l, T o ro n to a n d V a n couver. D IV ID E N D D IS B U R S IN G A G E N T --N a tio n a l T ru st Co. L td., M ontreal. PR IC E RAN GE-- H i g h ___________ L o w ___________ 1966 1965 81 82% 74 80 1964 1963 83% 86 78 80 1962 80 76 2. Canadian Industries Ltd. common; no par: A U T H O R IZ E D -- 13,500,000 s h a r e s ; o u ts ta n d in g , 9,794,161 s h a r e s ; n o p a r. Im p erial C hem ical In d u stries of C anada L td ., o w n s (73.4%) o f sto c k . V O TIN G R IG H TS-- H as one vote p e r share. D IV ID E N D S -- ( P a y m e n t s s in c e 1953. f o llo w ) : 1954___ $0.10 1955___ $0.45 1956-62 $0.50 1963__ 0.65 1964___ 0.60 1965___ 0.65 1966__ 0.69 [j]1967___0.37% S T o M a y 1. LISTED -- O n M o n treal and T oronto Stock E x change T R A N SFER A G EN T--R EG ISTR A R --N atio n al T ru s t Co., L td ., M o n tre a l, T o ro n to a n d V a n couver. D IV ID E N D D IS B U R S IN G A G E N T --N a tio n a l T ru s t Co. L td., M ontreal. P R I C E R A N G E -- 1966 1965 1964 1963 1962 H ig h ___________ 26% 27% 24% 18% 16% L o w ___________ 15% 19% 17% 13% H % O f f e r e d 887,671 s h s . in C a n a d a a t $23 a sh . o n A p r. 12, 1965 b y A . E. A m e s & Co. L td ., M ontreal, and associates. Shs. being offered a re th o se going u n su b scrib ed b y Im p erial C hem ical In su strie s L td., L ondon. Subscription Rights w e r e b e in g o ff e re d to s t o c k h o l d e r s o f r e c o r d A p r , 9, 1965 t o p u r c h a s e a d d i t i o n a l c o m . a t $20 a s h . o n b a s is o f o n e sh. fo r each 8 shs. held. R ights ex p ire A p r. 30. U . S. h o ld e rs w ill n o t b e elig ib le to p u r ch ase ad d itio n al shs. as th e issue w as n o t reg iste re d w ith SEC; how ever, th ey m ay sell th e ir rights. .-- I m p e r i a l C h e m i c a l .I n d u s t r i e s ^ L t d .,, L o u d o n * , o w n s 73.4% o f C a n a d ia n I n d u s tr ie s com . sh s. Im p eria l acq u ired only a sm all p ro p o rtio n of th e ad d itio n a l com m on sh ares to w h ich it w as entitled, and th e rest was offered fo r p u b lic sale in C anada. I.C.I__ ORGANICS-- INC. (Controlled by Imperial Chemical Industries Ltd. ) . , ^H istory: In c o rp o ra te d in R hode Islan d N ov. r g . 1899, a s s u c c e s s o r t o M a s o n - C h a p in & C o. B usiness e s ta b lis h e d i n 1815 a s A rn o ld , H o ff- r & C o ., I n c . P r e s e n t n a m e a s s u m e d J u l y 1, *Jn 1948, a c q u ir e d H a r k n e s s 8c C o w in g C o ., Cincinnati, n o w o p e ra te d a s a d iv isio n . [ Business: M a n u f a c t u r i n g c h e m i s t s . P r o d u c t s ufelude d y e stu ffs, s u lp h o n a te d o ils a n d fa ts, *ater rep ellen ts, d efo am ers, sy n th etic d e te r<ents, p la s tic iz e rs , o r g a n ic e s te rs , c a tio n ic ofteners, e tc .; a lso w e ttin g a g e n ts, a p h a r m a c e u tic a l c h e m i c a l a n d c h e m i c a l s f o r u s e in paper, p la s tic s a n d r u b b e r in d u s trie s . M a in gins sales offices in P ro v id e n c e , C h a rlo tte , C,, A tl a n t a , G a.. , Property: O wns p lan ts at D lghton, M ass., i containing 260,000 sq . ft. floor sp a c e o n 75- *cre site; C harlotte, N . C. w ith 44,000 sq. f t . , ?n 3% acres: B a y o n n e , N . J. w ith 10,000 sq . ft.; I ?aaes C in cin n a ti p la n t w it h a p p r o x im a tely ^ *`00 s q ^ f t o n a b o u t 3% a cres. , jS Principal office and laboratory b uildin g la providence, R. L, la ow n ep . ' -O fficers: T h ofoai R ichardson. Pro*.: F. P . Exec. V lce-Bres.; H. G. Bruns, V lce- M ?es. and T rees.; A . B . S te w a r t, V icerP res.; < . & B. M erchant. Sec.; Ct W. K eefe, Comptr.; .1 ^ G. T orran ce, A sst, S ec. r W rectersi Thom as Richardson. T. P . R eed, a* G, B ru n s, A. R. S te w a r t. M. B .. M erchan t, 5- G,, C. C ash ford. A . L . C arrad , A . W. B a x te r , epa V ird on e, Counsel: H in c k le y , A lle n , S a li s b u r y & P a i sons, Providence. Auditors: E r n s t & E r n s t. Annual Meeting: T h i r d T h u r s d a y i n F e b , No. of Stockholders: J a n . 13, 1966, 245. No. of Employees: D e c . 31, 1965, 483. Main Office: 55 C a n a l S t.. P r o v i d e n c e 1, R . X. Consolidated Income Account, S ep t. 30: N e t sales --___ __ O th er i n c o m e ____ T o ta l i n c o m e ____ C ost o f s a l e s ____ S e ll., etc ., e x p . __ D e p r e c i a t i o n __ _ I n t e r e s t __ '__ _____ 1965 $17,437,881 250.026 17,687,907 8,592,927 3,748.260 839,255 273,295 O th er d e d u c t.1____ 3,980 F ed . in c . t a x _____ N et Incom e_____ S u rp lu s 1 - 1 _______ D i v i d e n d s _______ Earn, surp., 12-31 _ Earn., com. sh are. No. of com., sh ares 2,026,654 2,203,536 3,049,996 232.485 5,021,047 $9.47: 232.485 years ended 1964 $15,586,452 208,245 15,794,697 7,855.111 3,511,104 864,278 285,768 2,830 1.608,000 1,667,606 11,614,875 ` 232.485 3,049,996 . ** $7.17 232,485 C onsolidated Balam A ssets: C a s h ----------- ______f M a rk et s e c u r .------R eceivables, n et ( ^ I n v e n t o r ie s _____ Total current _ CDNet p r o p e r t y ___ Sheet* Sapk 31s 1965 -- $711,830 4,901,365. 2,328,053 5,356,745 1964 3,556,638 1,907,383 5,114,594 $13,297,993 5,083*371 $11,564,202 5.701.780 L a n d ______________ C o n s t r u c t i o n _____ O t h e r a s s e t s ______ D eferred charges - T o t a l _________ L iabilities: A ccounts p ay ab le . A c c r u a l s , e t c . _____ T a x e s ____________ D e b t d u e .................. D u e a f f i l i a t e _____ 115,616 937,683 43,848 j___ 83,144 $19,561,645 114,020 15.919 114,251 25,189 $17,535,361 $617,343 239,474 v . 1,518,508 334,000 878,990 $348,231 219,417 1,410,619 332,000 888,815 T otal c u rre n t - N otes p ayable A f f i l i a t e n o t e ____ C om . s t k . ($ 1 0 0 )___ C apital surplus Earned s r p l u $3,588,315 2,176,000 3,650,000 2,324,850 2,801,433 s 5,021,047 $3,199,082 , 2,510,000 3,650,000 2,324,850 ^ 2,801.433 3,049,996i (- T o ta l J_______ N et c u rre n t assets $19,561,645 . $17,535,361 $9,709,678 $8,365,120 ^ D e p re c ia tio n . _ $7,709,493 . $6.900,568 HJLower co st or mkt.;, finish product w o rk in p r o c e ss 8c. ra w m a il., 'i l i f o ^ b a l., . T erm L oan: Outstanding.S ep t. 30,. 1965; 12.- 510,000 4%% n o te s .p a y a b le se m i-a n n u a lly to J a n . 1, 1973. C o m p a n y m a y n o t p a y d iv id en d s on com m on in excess of net earnings after D ec. 31, 1952 p lu s $100,000 and n e t ca sh p ro ceed s of sale of stock and subordinated debt after that date; also agrees to m ain tain con solidated net w orking capital of at least SI .500,000.