Document Er0enL1LMy7kgGJZkjkqb7QV

1652 MOODY'S MANUAL OF INVESTMENTS ci.rnert ni hook value of $50,502 (including `INKING FUND--company shall pay to trus each $1,000 bond: held: and to.holders of al SjO.oo:' applicable to subsidiaries in bank* tee on March 15. 1945. the sum of $515,745. and lowed unsecured claims, on basis of $139 in ruptcyi However. In addition to the values annually thereafter whichever be greater of come bonds, together with eonunon- stock and Oiown bv the hook* of the subsidiaries, the a) an amount equal to amount of unpaid in cash, fur each $1,000 of claims. 55U.DU0 Ticmont Coal Co. bond* represent a stallment of prtncipal. if any. due on succeed TAX STATUS--No provision for assumption lien on certain coal lands which were sold ing Apr. 1 on all income bonds the outstand or refund of any Federal or state taxes. in 1933 fubinct to the related mortgages. ing. or (b) an amount equal to 10 cents oer LISTED--On New York Stock Exchange. ibt Accounts cerufled by Hastcm* <* Sell*. FUNDKDDEBT L Philadelphia A Heading Baal A Iron Ce> general incavne to, due serially In UM: AUTHORIZED--S10.ni4.900; outstanding. Apr. 2. 1945. $9,720,765; held by subsidiaries. $78.390; retired. $515,745. DATED--Jun l. 1945. MATURITY--Apr. 1. 19C4 and payable in 20 'Qun! nnnual installments. Apr. 1. 1345 to 1964. incl Each bond has attached thereto 2(1 prin cipal coupons, each representing 57*. of pnn- gross on all coal mired or taken by company or its lessees or licensees during preceding calendar year from all property owned, or an amount equal to one-third of net earn ing- for next preceding calendar year. Fund shall be applied, first, to payment of installment of principal due on ensuing April M. and. second, anv excess, at company's notion, to purchase of Income bonds if ob tainable at not in excess of unpaid principal amount or to payment of unpaid installments of principal in order of maturity. Mortgage Stab*: Predecessor company's re funding 5s. due I973i for which above-income bonds.In part/ were issued tn exchange; were returned to holders with legend: stamped thereon or attached thereto, In accordance with a supplemental indenture dated Dee. 30, 1944, releasing present company from all lia bility therein and restricting.the Hen' ofthe mortgage thereunder to certain, property, rep resenting approximately 120,000 acres; of . idle, coal ana barren lands, not turned over to the new company. Successor trustee under the cip.il; payment cf any installment may be With consent of holders of mi* All bonds and share certificates so acauired shall he cancelled and common shares repre mortgage, Schuylkill Trust Co., also holds ap proximately: $50,000 representing proceeds of iivri:v :.f income bonds, company moy post sented by such certificates shall not be reis earlier sales of such lands. Rights-of owners pone maturity date of any one or more prin- sued. of refunding 5s are limited ;to net proceeds rinal counons. but not later than Apr. 1. 1964. SECURITY--A Hen no all fixtd assets acquired from remaining property. Bonds :-are traded INTEREST PAYABLE--Annually on Apr. 1 to bv the company lother than assets acquired as Philadelphia & Reading Coal & Iron Co. 5% the exp-nt earned anti cumulative from .Tan. frrm Readinff Iron Co.) or hereafter acquired. mortgage bond stubs. 1 mlercst due Apr. 1, 1945 to cover pe riod from Jan. l. 1945. Interest payments may he onticiDated and any installment of iniiTr*r. nui paid when due shall be uncondition All capital stock and funded debt of subsidia ries owned fire pledged and deposited as addi tional security. Property may be released as provided. OAPITAL rroox Philadelphia * Reading Ceel * cssnssa;iMrtli: Iren Cs. al^ payable on Apr. l. 1964. Unpaid installmcnw nf interest shall In turn bear interest. Principal and interest payable in U. S. lawful money to holders cf record 10 days preceding rxnrt n.'vmrni date INTEREST PAYMENTS--Initial interest of 1 `ar- paid Apr. 1. 1945. TRUSTEE-Girard Trust Co.. Philadelphia. FISCAL AGENT--DrexeJ 8c Co.. Philadelphia ;n<! Now York is fiscal agent, registrar of the bond* and transfer agent of common shares attached ro bonds DENOMINATION -- Registered. S100. $500. Sl.rnr. and multiples: interchangeable. SHARE CERTIFICATES--Each bond has atinch.-d thereto a share certificate for common at*rate of jo shares for each $100 bond. Until bonds are retired, neither bonds nor rci tifientr* nmy be transferred separate i-d api.rt from the other. ' AUUABL.F-- As a whole at any time on SO lav' notice at principal amount plus accu RIGHTS UPON DEFAULT--In event of de Authorized, 1,031.490 shares: outstanding, 1.- fault. trustee may declare bonds due and pay- . 031.490 shares, including 7.B30 shares held by able. Holders of not less thon a majority of subsidiaries. outsUnding Income bonds will be required to Has full voting rights, cumulative for elec cment to waiver of any past default and for tion of directors. conducting any proceeding for any remedy Issued-pursuant to reorganization plan {see Available to trustee. History above) to holden of predecessor com r.YDENTUFE MODIFICATION--Consent by holders of 75% of outstanding. Income bonds shall be required to niter or amend the provi sions of the indenture, except as provided, or create any mortgage or lien on any or all of the mortgaged property ranking parlor or on a parity therewith. purpose --Issued pursuant to plan of reor ganization (see History above) to holders of predecessor company's refunding 5s, 1973. on basis of $270 income bonds, together with com mon stock and cash, for each $1,000 bond held: to holders of predecessor company's deben ture 6s. 1949. on basis of S12S income bonds, pany's refunding 5s,. 1973, on basis of 27 shares, together with income bonds and cash, for each 91.000 bond held: to holders of ^prede cessor company's debenture 6s. 1949. on basis of 125 shares, together with Income bonds and cash, for each 31,000 bond held:, and .to holders of allowed unsecured-xlaims, on basis of 12.5 shares; together with income bonds and cash, for each 31,000 of claims. Stock certif icates are attached to income bonds and may not be transferred apart from bonds until au bonds have been retired. -- Tiansfei Agent: Drexel & Co.. Philadelphia and New York. mulated interest. together with common stock and cash, for Listed: On New York Stock Exchange. PITTSBURGH PLATE GLASS COMPANY CAPITAL STRUCTURE aPITAL STOCK Issue 1. Common_____ ....... Par Value Amount Outst*nrhnr 2.211.306 Shs. Earned per Sh. 1944 1943 $6.08 3846 Dlvs. per Sh 1435 *4J Call Price Price Range 112233^4^-9955 114477^12^ HISTORY operating by a continuous process and In In .1939 began fabricating ufety glia at Incorporated in Pennsylvania Aug. 24. 1833 and retneorporated In Pennsylvania Nov. 3. 192n upon merger with the Patton-Pitcalrn Co. and Columbia Chemical Co., both Incorpo rated in Pennsylvania in Nov.. 1320. For de tail* of stock Issued In 1920 see Capital Stock s--iinntogIscwskchusoeicmdoh.fpTaPilhnilteytsPPobawuatrttnetgoinhnngP-PPaialaaxIaitinclnntclematto0iiCGCmffoolatt.Clhhsoooseeo.ffpwooMMuuuariicttllswwsshttaaaaaasuunnhnekkddoodeetiilenndeesgga,-* 49% Ftock Interest In 1900 and subsequently ccqulrrd a majority (2) Rennous.. Kleinle at Co . bru?h manufacturers of Baltimore, in which Pittsburgh Plate Glass acquired a 48% stock Interest In 2900 and subsequently ac quired a majority f3> Pitcairn Varnish Co.. and t4) Corona Chemical Co. In the latter two concerns. Pittsburgh Plate Glass acquired o minority slock Interest as a result of stock dividends reresved. These subsidiaries owned the entire capital stocks of Red Wing Linseed Oil Co and several smaller sub-cornpanles. At the time of merger, Pittsburgh Plate Glass owned 54% of the capital stock of Pfltton-Pitraim Co Columbia Chemical Co was first nrrarlxed in 1899 by John Pltco:m. fh^n Chairman of the Board of Di rector* of Pittsburgh Plate Glass Co. It* al 1926 completed the second unit In May, 1324 completed construction of a Portland cement plant at FuHonham, O.. with a daily capacity ol 2.500 barrel*. In May. 1927 plant capacity was Increased to 5,000 barrels dally at a cost of about $1.500.000. 1 early 1924 began the sale of nitrocellulose lacquers. In the same year Increased the productive capacity of its Portland. Ore. paint factories and acquired the factories-of Sunset Paint Co. of Los Angelas. In 1927 comDieted a four-year expansion program at the Milwaukee lacquer plant. In 1929 began opera tion of a lacquer plant at Newark, N. J. Zn late 1927 the company and a subsidiary of E. I. du Pont de Nemours each acquired a 50% stock Interest in Pittsburgh Safety Glass Co. (name subsequently changed to Duplate Corp.). which constructed a 31.000.000 plant at Creighton. Pa. (or the manufacture of s__a_f_e_t.y _g_la_m__*,__u_s__in_g _th__e comkpany's. plate clan and du Pont's plastic Interlayer,. In 1931 ac q- uired full c--on*t-ro-l o`f --Du-p-la--te- --C-oro. In Ju__n_e_.__1_9_2_8__a_c_q_u__i_re__d__D_ _l_tz__l_e_r_C_o_ lo_r_Cc. of Derttrroolit manufacturers of automobile finniisshhes. In July. 1929 completed the rebuilding and modernization of its Ford City. Pa. plate glass plant at a cost of $5,500,000 and In Mar.. 1930 C^eta^City.'Mo. 1937 constructed a renin plant *t Mil waukee and acquired the factor, and buil- nen of The Tkruher Vamlih Co. at Day* ton, O. In Mar., 1937, jointly with Corning Glass Works (see .g.e--ner--al -i-n--d--e---x-)--f-o---r-m---e- -d- -Pittsburg--h Corning Corp. to manufacture: glass building blocks, glass tile,- etc., at a newly-constructed plant at Port Alleganyt Pa.. Each, comparer owns 50% of tha SMO.OOb outstanding-eairital stock of this concern. .. In 1938 exercised an optlontopurehaaaW,- 000-shares of American Cyanamld Co. class B stock at $20 per share under an option Is sued In 1931. . . _ . ____ On June 10. 1933 dissolved Duplate Corn.:* wholly-owned subsidiary, manufacturing safetv glass, and acquired its asset*. In July. 1942. Pittsburgh Corning Gian Corp: announced development of "Foamglass. a new type of opaque glass thatrflostsTike-cork and can be . used as buoyant element In-con struction of lifeboats, life preservers and pontoon bridge, supports. Federal agencies are Investigating Its use- as. a substitute for cord, balsa wood; cellular rubber snd kapok. It is also a heat Insulator anwdtSishEdvisStrhibPulateted kali plant at Barberton. O. began production In 1900 Upon formation of the company in 1883 the first commercial plate glass factor* in the United Stole* was constructed Creighton. Pa. In 1895 additional plate glass factories were acquired. Including those of Diamond Piste Glass Co with factories at Kokomo and Elwood. Ind. comple..t.e...d. ...a....s..i.m....i.l.a. .r program at the Crysta.l City. Mo. plate glass plant. These plants re placed old ones at these locations. In June. 1931 comoleted a plant at Ford City to manu facture Carrara glass, heavy polished plate glass and spectacle and special glasses. In 1928-29 began production of sheet and window glass under a new process at Clarksburg. W. Va.. and ML Vernon. O. In 1929 bepan operation of a new sheet and window Glass Co. aince 1941. C* a d plttIburgh pute Zn 1943. company's paint division developed several sealing types designed for use in the aircraft industry: Fabeeai." "Chromseal" and "SI_tn_ra_1t_9o_4_s4_e_aa_cl.q_"_u_ir_e_d majority Interest in Murphy n.o8tfsUPinBatScCiIfDloe..IAAALlSRtkdIaI.'U,mliarCCn!oo?d.. the business and factory Seven branch warehouses were Inaugurated glass plant at Henrvetta. Okla. In 1934 addi Parent functions chiefly as an operating tn 1836 nr.rt shortly thereafter the business tions were made to all three window glasa company, the principal subsidiaries' being expanded to include the distribution of plants. Columbia Development Corp:. which holds all kinds of -heet and window glass pur- In 1929 began production of "WaUhida." a securities (Incl. those of Southern Alkali rha*cd from others new Interior paint. Corp ). non-current receivables, etc.; and the In !:*r? hrenn the production of plate glass In 1931. lolntlv with American Cyanamld Belgian subsidiary* which operates-the plate at Con-re!le". Belgium. 'Closed early la 1940. Co., formed Southern Alkali Corp- (In which glass plant in that country. As of Dee. 31.1944. after German invasion of Belgium.) the company owns a 51% stock interest owned 160?. of the voting control of the fol In 1/17 betran operation of q plate glass fac through Columbia Development Corp. and lowing: tory pi Ford City. Pa Citv Mr* and In 19C9 at Crvsta! American Cyanamid 49%). Tills company completed a f7.O0O.r>O0 soda ash and caustic Allied Paint & Glass Co. Altoona Glas* A Paint Co.. Inc. Production of sheet and window glasa be soda plant at Corpus Christl, Tex. in Oct.. 1934. Canonsburg Paint 4k Glass Co. gan In 190" at Mount Vernon. O.. through ac In Mar.. 1938. Southern Alkali completed con Charleroi fir Belle Vernon R.R Co. (Inactive) quisition of the plant of Chambers Window struction of a liquid chlorine plant at this Crystal City Mining Co. (Inactive) G1as Co Additional sin***! and window glass location. Columbia Development Corp. factories were built in 1914 at Clarksburg, W. In Aug.. 1936 began operation of a new li Southern Alkali Coro. (51%) Va . and in liP.Q at Henryetta. Okla. quid chlorine plant at the Barberton, O.. fac Southern Minerals Corp- (26.32%) In I'JZI! dissolved bed Wmg Lii'serd Oil Co. tory of the Columbia Chemical Division and Southern Pipeline Corp- M00%> and acquired its linseed oil and other prop in Nov.. 1936 at this location began operation Southern Minerals Corp- (37.59%) erties. of a bicarbonate of soda fACtory. In Oct., Geneva Paint ft'Glass Co. At Creighton. Pa late in 1974 completed the 1937 capacity of thr liquid chlorine plant at Ivorold Mixed Paint Co. (Inactive) first unit of a new polished plate glass plant Barberton was doubled. R. W. Johns Paint Mfg. Co. (Inactive) PLAINTIFF'S EXHIBITS U-682 MOODY'S MANUAL OF INVESTMENTS leas Kingston Paint at GUu Co.. Ino. Ntvtui Palau, lac. Patton Paint Corp. (Inactive) mem. dry colors, insecticides. fungicides and iraln aulntoeunii. Produeta are dla- trlbuted through 183 warehouses aftd atom fNOOME AOOOUMT Tsitnirom report to stockholders; ter prior Pittsburgh Plate Glass Co. of Michigan located tiirougnout thecountry. years (a*1 reported to SBC),, see below: Pittsburgh Plate Glass Co. iTenn.) Although company is primarily a producer Poughkeepsie Paint St Glass Co.. tee. (for* of civilian goods, the production of direct ____ ||; 1944 1943 marly Thomas V. Lackaye Paint 4k Glass and indirect war materials has. since the out- Net oper. profit. . Co.) break of the war, become a substantial pcr- (her income, net SQueen City Paint St Glass Co. tion of Its business. Total income..... $23,789,552 2.126435 25)912,197 $21403*542 aiSj*! Sewick/ey Hardware* Paint Co cS?de (Belgium) Courcelle. PHIWOIPSL PLANTS A FftOratTUU For stalls on property acquisition, con- it2KSL0lW!* *?:: Plate glass manufacturing -plants are lo* Income flaxes:-----Excescpro?tax.. Post-war tax cred. RiivSrilk ' 7,843*551 5.353.000 : or 53r,000 CD13.450,63* 9493,292 7,4641*00 3,000,000 300,000 U4694M. *,834492 Sunset Faint Corp. (Inactive) 4.057*344 4,554,096 The Thresher Varnish Co. Triplex Corp. ivw. azter ucmin inviam w aw a* sb ~ --- ---Unfontown Paint St Glass Co. VA^:ofPDt a.G|4. SlnedCis Him 10O* Crystal City plants is used In the fabrication ;'dis?v-ou"a contro the foiiowini *ub- ssssv*s!n. "*SdraSss"w.Sri. velEniAfatuwrn^'dqipuri5atldn, 66a15,.n89d50T16,r45d39e95pletldH5n74':4ST9iM694*M4m, $5.45947$; 1941 $5.682427 (seenoto (d) below). and general taxe 1944, $2.877458 (1943. $*.491478). 3 After $750,000 reserve for contingencies. Gurley.Com.tock Core. <53.125?,,) JJX'PSSSHTS * _N_o__t_e_s_:__(_a__)__C_o__m__p_a_n__y_,;_1__s_^_u__b_j_e_e__t _t_o__r_e__n_e,g_o_t_i_a- Southern Condensate. Corp. 151%) rn. u.: ,,ou.m, tow; i*. Cal. and 1 n5r <b) Ccmpi?J?Muiiy In undistributed net In addition, had voting control of Joseph ?".? ml? n5KSUhS*-* " ' pnrroomflttasooffuunnceoonnssonliUddaatetMd fssuubbssididiaiarireiesstfoorryreeaarr AJ. MBaUli. mInec. u(lniacciltOlvBa)j,ebuy/ all Its poreferred stock. Thils* pntrereea.ifsseovrnirievodifahussovuiladmiinneAgd iTM-iMV2i--JbL-i^,?vSfj5"_*SAaiPi?-S. KTLKSLrSt A6??.1)***1*, ifLfifn^sSeeJdZSoiLl JmSilwls__Va__reanodpteoyrastuicb,saidt iaRreyd to Dec. 31: 1844. $$82,043; 1943, $750,193; ... S6aiileMs ffonrr yvemarm19u44i wubetrea 1if9i%% hhilgihheerr tthhaann voO-tiwngns_coS__nO_t'*rool fupvoontindg_ivicd. oenntdrodl eoffauPlitttsburg_h jI*:Jt,--Sfc _y -n.,lPTMaJiS,JJta*nni5LfisaASSttUhhl?*iHnviSI(d) In addition to this provision company Corning Corp. (see Hfotory). fiTwSS'ri expects .to claimadditional', amortisation in In 1944 acquired half interest In Vlcry-Pitts. store front n**tol factory Is located atKoko approximate amount of Sl;40b,0WrforA7*edexal burgh de Vidros e Crlstais. a Brazil warehouse a'iu^h* nthM .kM-u.1* *. income Ux purposes* Additional amortization comncermn: nnd a minority interest In Companhia ^_4*^5JJi2hS?UJSESdr o iwSlvJS?5USS#r?ff!l?fe# a'.?'wlJ*Tiwi!wiS^mu claimed in 1943 for, takpurposes was $1456^26. Pauliita de Vidro Plano with a new window it , jyJ2*5fi!J]-!iifc" ^2^5**?****1*X*3* Note: 1944 profitxsubject to;renegotiation glass plant at Sao Paulo, Brazil. Also, togethcr with Corning Glass Works, acquired JS0? i5rnJJ5?i.fSouthern Alkali Corp. buitt effect not exppeecctt*ed to be material.5 No refund for. 1948. - , BALANCE SWEET - flao pfufo")0-" Alrc5) "d Sanw Marino co Taken from report to stockholders; for prior years (as reported to SEC), see below. aufiiNCsa, aT. pp#rRoOdDuUcCtTs 4W # fuwnajurtkceide;u.saannddsemedingeesrmatdlCatrovfsaUctlanCtsitay.t MMUo*.: Pi-mcipal industries served are the .utomo- limtiione quarrlea at rultonham. O.. and na bile, which consumes the company, safety pron,rtJea and gaa line, at Ford City. Pa in glasa and finishes nd the bulldln*. which addition. 155 warehouse, and atora. ara oper- use. paint., varnishes, brushes, window *iau. .ted for the distribution of (law. paint, etc. plate class nnd mirrors. Research laboratories are located aa follows-. Hank* as one of the two eadinrprodueCTs Glass at Creighton, paints at Milwaukee. New ~` Assets: Cash U. Si Govt sec., mother mkt. sec.. Receivables, net.. iXlnventorlas .... -fcaet, m *4 0*. 32s 1944c- 1943 $134161868 818.212432 23461.880 13.133,670 5,190.498 5.708,77$ 10.465494' *9411485 27,191.672 24.86643$ of plate glass (capacity lOO OOOSW; sq. ft. yearly). wh!ch U used principally by the automobile Industry In the form of safety g ass which comprises two zheeta of plate glast pressed together with p plastie Interlayer. Plnie glass Is also used for store fronts, mir rors. etc. Ranks as one of the leading pro ducers of sheet or window glass, sold under the trade nomt Pennvernon. Chief raw ma ark and Detroit. chemlcaU at Barberton. Pittsburgh Coming Corp.. a 50% owned com- Total cur.r.e.nt. -any. has a glaaa block producing plant at fflESfiJSS?:; "5;-- Pori Allegany Pa. mldle plants, etc.. company's property in Belgium waa liber- f U*S.Ar^1 to * ~q""oni bF ?In5vieJsPt, sRub`. "cSos'TM... 31Mlsc. Invest------ MANAGEMENT Secur. on deposit $79,826,110 56,902.164 1.406460 X 1 7493,033 6.608456 501.464 terials of this division nrc soda ash. sand, limestone nnd vinyl plastic Ranks as one of tne leading producers of pamt. varnish lacquer and brushes, which are sold in large quantities to automobile companies nnd other industrial consumers as well as for general trade purposes In paint ing of new houses and in home rehabilitation. Chief row materials of (hi* division are lin seed ell and other solvents, colors, metallic pigments, ntr. Ranks as one of the leading producers of soda ash. which la used in the manufacture of glass, soap, oil, textiles, drugs, pulp and paper, and m water softening, purification processes and cleaning operations, and of caustic soda, which la used in the manufac ture of soap, chemicals, raynn. lye. textiles, and In petroleum refining and rubber re claiming. Other products of the chemirAl di vision include (1) liquid chlorine, used largely In the production of chemicals, textiles and pulp, and in water purification (2) modified sodas '3) special alkalis <41 calcium chloride Hennig's purifier and soda briquettes, used for-desulphurizing pic and cast Iron (6) salt for industrial uses *7) calcium hvoehlorlte. Officer* C. M. Brown. Chairman R. L. Clause. Vice-Chairman H. B. Higgins. President R. B. Tucker. Vice-President E. T. Asolundh, Vice-President Lcland Hazard. Vice-Prea. A (Sen. Couns. J. H. Heroy. Vice-President F. W. Hudson. Vice-President E. D. Griffin, Vice-President J. A. Wilson. Mgr. Glaaa Mlf. w. V. Simmons, Treasurer H. B. Brown. Secretary C. R. Fay. Comptroller Directors mciarence M. Brown. Philadelphia Howard B. Brown DIE. T. Asplundh. Pittsburgh. M)R. L. Clause. Pittsburgh QjE. D Griffin. Pittsburgh J. H. Heroy, New York 33H. B. Higgins. Pittsburgh . Richard K. Mellon. Pittsburgh rpHarold F. Pitcairn, Philadelphia Raymond Pitcairn, Philadelphia CDR. B. Tucker. Pittsburgh. Other rcc.. net.... Post-war tax refd. Deferred charges. 532422 648472 1.645,767 Total .............. Liabilities: Accounts payable Acer, wages, etc.. Accrued taxes___ Other accruals__ Fed. inc. tax accr. *155:465,350 $5482.837 1.785*253 1.761,433 261.424 13*839.163 Total current.' Insur. reserves... Res. for contlng... Maint. 8b repairs, res. Other reserves... Deferred credits.. Cap. stock (925).. Paid-in surplus... Earned surplus... $23,230,132 2468.45$ 5.681465 1.832477 155,649 235.495 55482.650 7704*5 65.908439 Total .............. $155,465450 Net curr. assets.. $56.695472 XAt-costMess depredation. $71429.799 58.765,134 1425411 .937410 3425458 457,89* 761490 . 302*785 1,701*977 6146,208,162 84.686.T2f l.OHXM 1,6074*4 297.183 11,620412 >19.227,686 2,4*2, Ilf 4431.365 1.736423 1407 254,492 55418475 525,000 61451495 $146408.162 $52,602,413 used for water purification (8) Calcenc or CDMember of Executive Committee. $At less than cost or market, SHenc. used for mbber compounding, and (9) Qaneral Ceuneefc Leland Hazard. ft At cost or less.. Borax uvrd in cleaning. Principal raw ma Annual. Meeting: First Wednesday tn April 4 At lower of cost or market: market value: terials of this division are salt and limestone. Na. *4 Stoekhelden: Dee. 31. 1944. 8424. 1944. S5.736.946; 1943. $6,028450. Kelativelv minor divisions of the business Na. of Employees: 1944. average. 19439. TAt lower of cost or market. comprise the manufacture of Portland ce- D< era! Office: Grant Bldg.. Pittsburgh. Accounts certified by Haskins St Sells. INCOME ACCOUNTS -- COMPARATIVE CONSOLIDATED INCOME ACCOUNT. YEARS ENDED DEC. 31 /Taken from rermrts tr> Securities and Exchange Commission) (For 1944 figures from report to stockholders, see above) 1943 1942 1941 1940 1939 fT*Net sales.................................................-- 3119483.S30 3106.B3S44S 8128.004.011 897440.631 883,189.621 fTCost of goods sold...................................... 67.958.181 58.883439 63446.845 48.932.7HS 45466.945 Other manufacturing costa........... 14.3fl3.718 12.793,068 17,190411 14.427.406 9J37.435 1938 184455,034 36.404444 10,020,006 1837 $93415407 48.133,452 9.742.449 Gross pTv.fi: from rcL'ular products Gross profit from auxiliary oper......... 37.121.631 574.289 35 159.959 47.566.948 34480.440 27.895441 17430.784 35.439.406 Total profit........................................... ffiSelltng. general St admin, expenses 37.695.920 16.392.378 35.159.938 17471400 47.566.948 18.788.709 34.580.440 16.247,149 27.895^41 15.107^49 17.030.784 13,026400 35.439.406 15407472 Operating profit .................. Interest and dividends received...... Royalties received ............... Proceeds, sate of license rights........ ITOther tncome ..................... .......... ..-- Gro>s Income .................................... vIncome deductions...... Balance ......................... ........... ...... Federal income taxes .........______ Sta*a income taxes ........ Tederal excess profits tax.................... Post-war refund-excess profit tax.. Surtax on undistributed profits............ Net Income to surplus. 21.303.542 1.M7.450 46.977 25.804.013 249.825 2.3.S3|*.l SR MflO.OOO 361.600 3.0(I0.00 rr 300 600 13.389.5SS 17488438 1.109,911 59417 148JM 19.206.264 ___ 458.132 18,748.122 7.000.000 861.000 132A00 crSAOO 11437,122 28.778.239 1498.334 98.282 305.017 30.479.852 3*17.674 30.17*2.ITS 1.750.000 1.183.000 7.250.000 14.989,178 ) 8,333.291 1,037.223 118.535 834.0S1 20J23.240 687.729 19.635.411 4.853,024 1M,450 7004X10 13*793.937 12.787.692 822A93 146.701 14.513^74 1^27A38 13.285.734 2437,8401 1814831 10.766,412 4.903,884 770423 326.460 1482400 606446 8.182.013 139.445 8.032470 $1,543,663 6*488*907 20.131,735 856404 776411 ~mo!oo6 22.644427 74485 22469442 3.793.960 488413 18487*969 1654 MOODY'S MANUAL OF INVESTMENTS INCOME ACCOUNTS (cant'd) BEarnad niTpiu, Mffuuuig of rear-- GDOther surplus crMlti..................... Dividends .....--------- .....--------ftjOtnersurpiua rtisrgao ...... -- ,, 37.836.8*8 8M4.S92 1942 U.7C74** 7.707499 1941 51.05tt.658 io.mTHs 1.317.505 1940 48.420.987 10409.174 248.092 1*39 47*1s2aXj0700 8.872,8a1m1 1*32 44A0O8X UMg 2.770*71 IMI-s 41.140*** jjaeig rayw^i surplus. tld Of 7&T______ S61.Ul.5ft5 853.747,156 SS1.056.C58 841.442.S09 *47*1**07- ES &sggt\ *s1s3mS.DSPED$IP^1sun19tEnUaiqaigRaPL04RvXXvdrar8u2tqPiiroeeoeedudGwI.,Ieio4unnPt.mnymmenea3rySarvocciaLtonnc1a%tpne2inllcfsysl":Esiuoucddn0tc,rnnoS.isioednd1is.Mtseoeotfi..ne/.n09.erumesce.ssnnt.ofo3En7.hfsoaipss.rp9ae.rp1nama.ofNelrap.o.i:o.ataa.-nnrld.mr.ineel.8Tmce.o.ernncri.a.1s6rd.nno.qtAl.enmy9.yeh.t1abs..igreu4..'.Rn',t.tsua.tas7le.uu3*i.diaei.edg.n.rY0otn.nd..nbsmnn.ye.odse4c.s.lad.9ste.id.:temPflap.ud..1oun..at,p..n1tIcsrlb9a...d.fendebr.y9cou,oa.stfio1.e4iettnenbrot.sitJ5is0.mtduscoPd.ceatc8in.I.aboio.n*..ogo(oa.9aies..nncnfo.gum2rffs..Do.f.is.ote5r.ne.l.uetpnl-e.e,l.Aon-l.t0srb-oor.o.agstL.-t5l:eoT)--.sli,watf-m-9dt..--1iopAc--;atd..D-e-9iIero-Lo-e.nt.i1--3detae.a-n..r.9r7eg-.t.-.rm..ttten4._-ude.^i.y..1e..9.es'r,s*2sntaS4:sslb22eeh84es1ao8eJ5Nl91owr7n63nS10tow42:7dno5152x19*1;.t.....4...9399721281f2a4i3164247280668soimai1unl6980974S38302ei.tf.....d,t.9..4v43e4r415e8(I941Mse4n4De925i8e136710naem2d1.3510622265is0iernun19itaqte9m2aro13us.k1n99efi9e4tn3nsyNc1tp98aue.oo19a8obc,cm4t1I18Siantod8lu.J4742027e1e9p4cn2n8r654638708toMi3rfdus77416at3144io43inss.U'J444n4e4t44.14r1esee94411648449sdt7o4e9dndc182174400si33lsdua:ti;9dotrnNrWoiacidtrbifetkeeie1usiathNspnd1ctdoare118v.ooe3j44116lda4edund.t.s..444An2621.j464s1^ssseuMe12477568269dtiltts68rs4nn538s7m1704am6!..u.,.(t4.:.4to,30t47.46670dmsmeef2r3e566253567i8pll1d5n12804190n13sev1ilns.euu5tnt.cee.d.st7teotw2olnl0oaeafdNo,8fn.ldvt81i9topeme.jo2taU313s4uttro,..4.44tu0l2546511i0tssuau6n044v633b68616tte6l206s751a86--8,.03..:......147t440939705eS80697433655d3afIttd78o9520703ni5i969coneC0rcc0ngen1bloe:u*ai1)l*gua.d,4n94nnee03c0ptrrS-*aa;l6a*1rea.e4eu2310lA*,m,te*.Jv,4Xnbo24347AoM103fSaX*i7do04*914tas*o2na7Se43757442ou*Xo1l*ou.,..X**d****r1444pn1tf*t123ts317om343l0hSea7te2er012l4*4*130*lyeI.il.xr-o-o--OyrcicwarcDhlp-.uIo)*nayr*dnecFre.sig*vonao3oM1jtmKg1*9orn1li,.d3Jdl8,e0u421.-7tm0iM6a33t0l3abr,,o*7100ote00l3i*e*1,-y.j**9.d27Xrr3j3i324due7o*81a2120747^Iob*a,-*.nc1.wn2.Wo.ct4e2.mr3oava.d.maolil-^IdUuetMnynreW2XTportAjd*lI*a'ert.1r3e3UmyMbd*c31dttto.oi*.e4*our70v7nomch--*er140-fv-. ' $686,351: 1938. 8395,103; 1939. *502.6141940. 9427*- In 1*37, eoraprlMd: Aflugtomt rt torolEa aolidated In 194(ftl, lnel. In.l9 rfop*raUone. 8*3. As of Jan. 1. 1941. company adopted mbnidluy', property. ISOM'. M, roulniMI of this tubaldlary were..Included,., for only policy of taking up income from subsidiaries only when received as dividends, and elimi nated previously recorded equity in undis of rn.rket.Lle Mcuntics ond miicoUODaous tovesunenu. Mnto: mimUuMoa. *urplua charge,. *40,6X6; total. *1.0*3MS. eleven month, to Nov. 30, aa.compaay a Mcar year was changed The reaulta were ttmverteil . at the average-of leml-monthly retjesofvjnr. 8tpaA0nBr70amoli5s0A3bnh0.oo]u0LyI.-.1u0nct'sAs20enoe0Ndtne1ps9Csrwh(4nos1oEa0ao9uvltrs4tidreiSes2npani.Hclotuofoelfn8Culsft.d3dEf4iuoone2Tns.cdfr38udl0_pusb9i3_sedu5s;tnce0ird10hsidbi9.ia0o4us0irn1ni0tue,sebsadI8esnn3nicdn8dfdooi8eam.lrr3traei8eeCp51lIs1i)ria9Oce..9o4ci1t(3M&.wTc9CU,oaPhwo_SukiAcmaenIo.Rhsn-tf Afg2a0Tdr19oeneI72mVXmdnp;;dlErin1meeD1r9eC9cea3elI4i9u:pOptal2u,ado.1otN8ditar9or1StiSS3nats.n7,41Oag.9.tWp95cLo*7,hr9I4o.aDS.a755.vm35rA'e2gi;64scToe;1:iuErod1t4r1n9iD(izSt93ati.a4e3oBlS3.tsi.A13oc.3aLlSSnt.na83A1d98nUN1JtbIa;1.Chu7a1t7E;Jt9c1.13htMSo^*9an4e,DBH3n1'..^4.EogerS.*Bel0Eem1u18SpT:dC11.a*u,n.5iMoniAo}orm.g.s"S;-t nOiectire-lnheiFhs-nar(aatdlobaDtolniurub)znEgagles)ieRCshdNhe.psce1nodtro1dsevuent.grevtyihonmeBeatgiiorealtstnTntoitioolhotMgnanaujOxitnuooc.yf.drf-eTmewstshahrss*ere.xiivnadecccioofpcfmnerootreurefanlntdcttcfettjehsbd'arumeodscrortttbai^neoet9tonmeog0sn*.. ASSETS Cash ------------------------------------------- -- <U. S. Government securities.....-- XOther marketable securities........ -- XNotes ft sects, recelv. sccrusd. ate. ^Inventories .--...-------------- ...... (For 1944 figure, from report to .toekholdarm, ieo above) 1943 818.212.532 13.132.670 5,706.773 9.911.285 24,666.539 10 813.871,480 5,118.846 6.395153 85456,118 1941 91140.770 5436.790 7.607400 11.608.068 25.455,005 1940 813484.894 2411472 11456.01 9.60.079 3140420 1*3* HO.m.MO 5*21,656 8*73X0*'. 8,609X8* 20X83,03* 1*2* *11.1X5X17 61**12 0*12.882 7X76.7*7 19,142.722 ran , *6X54*18 M36W 6*60,7*1. 6*65X06 2MI0.1M Tefal can set asssft ............................. SSee. ft advances to unconsol, subs.. Invest, in foreign subs, not consol.. Miscellaneous investments ........... Non-current notes ft accounts (net). KEProperty. plant ft equip.......------EftLess: Deprec.. depl- & amort res... Less: Extraord. obsol. res..................... 71.929.798 6,937.910 1 4.333,454 1.064.675 125.970.569 64.323.155 1.351,936 09,02530 4.007,00 853.439 134437.675 MA44.U6 1453.949 861,797,173 87409.792 SJ06J87 1.170490 221.174.100 54,720450 1453449 07484.056 87.70311 i 948431 1.051.063 853,465.871 87,127.819 2.114J01 ......7...4...2.....3....*0.. *68.071.107, 8262*23 1375*129 ......5...0...1......3...0... . *65X11*00 unxw. ijmAsi *20.110 ------- Net property ..................... Patents----- ----------------- --------------------Deferred chargee ........------------------ 60.290.444 1 1.701.977 644M410 140.361 65.099401 1 1.70.00 61,41905 22 1.095454 60,603,223 0.488 1.090.529 62X58*5* *.* *88*77 *1**1.U( 11*20 1*33.461 Total ........ LIABILITIES Accounts payable, trad*Notes payable ............ Accrued taxes.............................. Other payables and accruals.... _ 1146.208.162 84.572,903 18415 13.227,<67 1.408.402 813644640 0.790416 18415 10402.70 1474440 9141486.710 040.172 18.500 1740.013 1.41840 810.642.713 0.0140 204.600 7.169434 1,516437 *126.1*0*30' 0.992,10 121413 3353.089 1,40341 9118447436 0397341 146360 3.731,004 130373 *118,123*** *1.686.01* 1*1*0* 1X68X5* 1.653.14* Total current liabilities . 819427.386 SlCollected on installment sales...... 79.207 Deferred credits.......--...... 172.878 Reserve for contingencies............ 4.931465 Insurance reserve ................... 2.462,118 Pension and relief reserve........... ........ Reserve for maint. ft repairs, etc..... 1.738.130 Minority interest___ ................. ^ 2,407 Capital stock (par 825)------------- -------- 55,218.075 USurplU* .........._................ 62.376495 04438,640 896484 167447 40140 l47S* 0418.075 57,0140 822405.037 00.00 188.043 4.93140 3408491 1.930.079 3497 54.9G0.9M 54492.156 811.941488 8G39.708 174.710 4.0140 1.90416 2.042.188 1.641.053 5426 54,701.000 51481.658 173.10 4J3U0 1.796424 2.000,000 144440 5320' 54.00.600 49367.609 84320.779 91414,177 10.10 5.009407 13T4311 1300.000 1.04.472 5,80 53369.100 47313307 145399 43U30 1399319 1.090.900 130830 1370 0370325 4430930 Total ................................ Net current assets ...................... 8146.208.162 02,602,413 8156446.00 04,7040 8141488.710 09492.136 8129.642.713 80.442.10 8124.180350 845,073,539 8118.147.1M 8UR.t23.994 840,130329 . 05.719378 PROPERTY ACCT.--ANALYSIS Additions at cost.--................ Retirements or sales_______________ _ cOjDepreclaUon and depletion....... Other additions ...------- ............ $2,375,469 1.291.497 0,726.40 146740 4441 0.931.543 1.876.924 52.705.620 cr 6.123 $7,648,180 1.990.764 4.640.60 0.191.739 5X6,00 4.09,009 0333.490 469374 4,196,719 0.40491 90,10 931530 cr 563.895 DEPR . DEPL. ft AMORT. RES^ CHRO5SDDwnn8U.r1I>r5oHeeesAlConT701.hLrM4lctcseMt.a9or).Nhi't2.e.aAu4kA.drLsri-!2c-na.e.tcrnuoA337iio.uof.tl4rnm4.e-11d:dtwIrgw:L$n3c0.ien.cd.o;mlne6e:eYs2heoetr11;d;snofaC9gnSrtbr9ctsorltn.Jp4s^uti.soeoIts3d.og3ooSori.i.st,.nssun'..oapehtqf.ilet.nsa$psctSsro.earue1.ri.eeeolpc6oc.sdvt.n.:3.ds.nsohol.lpt.ff.e,i.i!*.s.1sdie..eoSs2se..stc.4:..Stats2wo.fSro.2,4f.t.Sf<,.a7seo.tao-3$.8F.1.5[5tl9d2c.rrG9si0.7Sil8n,.nc.4.o604o.-e.m3omc..i0.f5rS5s..scul4tP7<.S31hu.naHu,M$.m3nsr.7.redirr3r0..r.lto4.k;7kT.e6is4da.i.t8..Sp2nee78i.pdr.:Te.-.g,ekt.tg..t3ul8....s.a.6o.reJr6e.o.r7.t0.oct2Ma.o.ryM7r:..,d.)e.fewf...srat.a...opo,s..Ar.r..amutk.$k...amt.1..beierR0l34ts,tDat6s,.1e57i.t$uped.S2ve,sv686ehia4a43eara8,,.i5s93r2r9llarutuv.3.l0.i39s7d1leSe7ee.s1227)Sls5.s,.,-4,.0:-cl.86r356daaepS1!i1:p433211cc*n0s92nem5m.,.r19rr.r4215Uv:Sse253c4.e1ope0321ipe0*e97:l0ec0j7dr54pX.d.n1lst10eiJo1iean9Sis9tct10aan9ctyes4c3t2rhW03lcinie1itud8la5o.8eltuyc2:td;e7.o,dto-nde1oe.4is19c8naetpuR31d'2)pdr309.sac9ln.e5e9atu7esDrct4fm;t.sc4prnirstcssp9o8oSeoe1o,S1rd-3al1uur04e.a3cerraM40i4e9pb2ns$v94skes.42tc014u2eetise5dy4;uts.3i.(benaca0n3epe1N8rp1s$roA'vttfa'uapKsc9iioae9tporrst)n3lhe:Hseqc6rit0nudaniahau.1t.otor0ni-ue9pacedorppni86gc4enapxsn)ln7lrs:u0e*us$5)elort8t.:..sr1ba4es117^puapJ$.,.9wei:r.3tpa95s$s42envmor4d5l605de7e6lhoo13edra1r662r50e9.rddtowvd.e.,n5ye.,63216ni$.i0wi,S.7trs731:1n0v0t7i1S1.9s0oi5n00c099oaaoc17i0nw4;4.a<9nlrfr3bu0sf0y123tersri5.oe^e977crAid12it.4l.0eeoMto.fi7m1aROte1Srrd5bwe.se7t;7nTos1Sds,icouiD:01b.aan.tJaool3an7naenejtpIts0Sn5tU.,ecolsdet.-:..-:t Con:rurtHn (.`nu^ed fnci'ities. Oihcr property .. 715A74 T8S.5R5 2 994.095 cence reserve. Sl.353.94t). ' yiV.4H6 1940 and nrtor years: Credited to asset 1.752.883 atIncludes amounts charged to contineency reserve (note I to consolidated Total Jl2.96d.568 $64426.175 l income account). "SAt net'carrylng value of InvMtintnt la and advances to and from subsidiary [see General Nota fb) below I. . . __ Depreciatien Policy: provision for depre dation of depreciable assets was made-at various annual rates, which are based on the estimated useful lives of the respective items. Computed composite annual depredation rates for 190. based on provisions for year and balances in adjusted property accounts at beginning of year, plus one-naif of net additions for year, follow: Used in business: innd improvements. 4.76%; buildings, 311%: machinery and equipment, 5.56%: not-In op- rrution: building*. 10.`X%; machinery and equipment. <l.C7(.r; other real estate land and dwellings for employees (including land and \ dwellings under contraet of salw). and invest ment property: 'and Improvements. 3.60%: I huilriincs and building equipment. 1.85%; ma- I chincry and equipment. 0-03%. 1 provision for depletion of salt, limestone. ` H;iy and coal deposits for 1943 was equivalent i to cost of such resources recovered during MncmY'S MANUAL OF INVESTMENT& 1055 year, that coat twine computed on bail* ol ratio of resource* recovered to total recov erable resources estimated by company a enstneers. .,, . (a) Account* certified by Haskins It 8*Us. lb) Abova consolidated, statements include all subsidiaries whose business policies and operations are directed by the parent through Its orranlzetlan includes Southern ^kau Corp.31% owned). In 19*1, 1838 and 1839 ac- counts of one foreign subsidiary Included as of Ho. foreign su3f0atshidliaiInry 1_9w_3e_1nreetc`ocnuvrerertnetd aastsertastaofof exchange prevsi lime el Nov. 30.1938. The fixed iSKts were coionvv<erted. generally on Attest* ^Company's only fortllB lubtldliiT |B*Ii1ip) was notconsollda(e<On.lMO*4a, Incl. Earned surplus of this * subsidiary was eliminated from consolidated earned surplus as of Dee: 31, 1939. and net carrying value of the invest- meat and advance*-to end from ttb.tnhdSiary is nowstatadal 6L (c) Prior to JMl.-H wssgensrel poller of eompeny and eubsfatanes to mdlt sroviidaB m*'flfCTffliipofl awridM-te hwiWm of Mj| of the property direct to mated : " aeeounta. ln.lMl. company --* completed roajoraorttonof i accounts so. as (ormtsts. pr and . to -ael^esate amounts' of j dilton. numeiu. orawnna out* S-sEamcdpcr ahare................. Dlvldenaa.per share.................... ........... Price ranee ......................... Net assets per share__________ - Number of shares ....------------ ....... 1944 1u6.&08 12Si-95 155.15 2.21U06 1943 96.06 94.00 99-9448 953.24 2.208.723 1942 illl 1.722 1941 .3.00 96V-U 649.70 2.198.438 1940 J00 1MU-6S HM7 I.1U.040 ZJ38.TM Financial and Operating Ritin Currant ssscts-i-curr. liabilities------% cash & securities to curr. assets... % Inventory to curr. assets.......... .. a net curr. suets to net worth...... ipliaJxxatioa: % common stock it surplus........ Sales-*-inventory ..........------------ ... Sales-rreceivables sales to net property. sales to tLotal assets.. w net income to total assets.^ % net ineome to net worth...... Analysis ef Opentlens Net sales ....................... Costa, goods it manufacturing........ Gross profit from products.........--.... Gross profit from aux. operations..... Total profit................ -............................... Sell., gen. it sdm. expenses........... ....... Operating profit ...........--....... Proceeds, ale of license rights---------Other income------------ ....------------------Gross income ....------------ --------- Income deductions ....................... .. Net Ineome before income taxes, etc. provision for taxes on income ...... Net income......................... 3.44 52.B8 34.02 46.49 100.00 8.65 11.03 % ID--. 3.74 51.68 34.62 44.73 100.00 4.80 12.05 199.01 81.65 9.16 H-49 % 100.00 68.91 31.09 0.48 31.57 13.73 17.84 2*09 19.93 0.21 19.72 8.51 11.21 4.13 4243 43.46 2944 160.00 4.16 12.72 16641 7346 641 L94 10040 6749 3241 2241 16.17 13.74 TS 1747 Ml 17.54 7.03 1041 2.76 40.02 41.19 35.96 100.00 5.03 11.00 19643 9043 10.60 14.13 10040 6244 37.16 &ii 14. 22.46 Via 2341 044 23.57 1146 11.71 4.61 4348 37.54 42.76 10040 445 10.11 159.46 . 7645 1044 1240 % 10040 9449 3541 3541 1649 16.72 243 30.75 0.70 20.05 646 14:09 947 45.77 3943 4347 10040 446 946 13747 <741 6.67 1041 10040 9647 2343 3343 1646 1347 TS 1745 146 1547 643 2244 TJS <201 38X4 HS 10320 5447 141 10040 Till 2746 zfaa 814 743 L4i ZM 12.73 1*3 3X0 QJSeles not stated. CAPITAL 9TOOK 1. Pittsburgh Plata Class Co. stock;jiatr ta: AUTHORIZED--2.600.000 shares: Issue.._____ 723 shares: outstanding. Dec. 3L 1944. 221U06 shares: par 823 Ichanged from 3100 par Oct. 9. 1923. four $25 par shares issued in exchange for each 3100 par share). Dividend Naeaid (In t> ($100 par shares) 1683-93 NU 1699__ 5.00 CD1907-17 7.00 1916__ 10.00 X1920. 1340 1921__ 8.00 CC1923-26 18-00 1927__ 13.00 1900-06 6.00 1919... 7.25 1922... 13.00 1928__ 6.00 (625 par shares) 2H92S. 0.50 2929... 3 00 1930__ 2.00 1931__ 1.75 1932__ 0.75 1933-- 0.70 1934... 1J0 1933______ 2X0 1937... 630 1933______ 1.73 1940-41 5 00 1942______ 3X0 1936___ 1939---1943-- 1944_____ 4.25 [1945. 0.75 Plus 10% In stuck Apr- 1917. iiPlus 20% In stock Dec., 1920. JiPlus 30% in slock Jan.. 19*5. (T.Plus 10% In stock Dee. 1. 1928. $To April 2. BOO 4-00 4.00 Dividends payable quarterly Apr. 1. etc- to stock of record about max. 10. ate. PREEMPTIVE RIGHTS--As provided by the statutes of the Commonwealth of Pennsyl vania. LISTED--Pittsburgh Stock Exchange: also traded In unlisted suction of New York Curb Exchange. TRANSFER AGENTS-- Peoples-Ftttebungb Trust Co., Pittsburgh: City Bank Partasn Trust Co- New York. _____ __ REGISTRARS--Union Trust Go- Pittsburgh: Guaranty Trust Co.. New York. ISSUED--Upon relncarporetlon ln 1930. 307,- 343'sheres.of new sioo.par stoek'wcn land as follows: 247.500 shares to bolders M old 9100 par common on e share'lor snare basis: 1.340 shares to holders of old'12%rpr*ferr*d on the basis of two sharea for sack altar* bald; 47.788 shares to stockholders. Of Columbia Chemical:Co. on thothnsls of: B/JMaa&oshare for esch sbare held:10374 thxres-toTniscrtty stockholders (46%) of-Patton-PltcalTB Co. ns a share for share heals. PRICE RANGE-- 1944 1943 1948. Stock.............. ..... 125>4-95 98-84% 8Slt-551i UNITED STATES RUBBER COMPANY ttlfimSu?CHCAI21AISn..PPcT8CIo<IOToTrrpARmAnoLYmLIorsaonSstSnu-eTcTedOuR-m-Ci-nU-K-u-C-Nl-aTetiUwveRJEe1rsset yp.rMefaerrcrhed3.0.,189V2P.a6**luMR0*f0e0u,O. bJnboeDre1SO.Cc7.5uSoA99tr.smp.0Tt9.a1o29nwI1u3J1dn9imtintShm.gaMtidree3.2Esam461na.93.za0r42nno44seuffdfeaHaprcIesT1tt5our9.S0s4rS9i3Tnh&bg. tpj_Fslal13aOzn963k4.tl04v400sFh_.rppaieSnn16r.ak981S4..030SWk0V9,.. SGoSCrsaan?CSo- .I1n5M5c041-%9P-4-l1MW4i3lewa0*skB--a. nPn117gr592os034d88-u;-4-1c34le:i}si In early tail acquired a controlling Interest in Gillette Rubber Co., with tire plant at Eau Clair. W's. On Feb. 29. 1940. stockholders of and tha^ assumption of Fisk's liabilities. Ac- Malayan-American pfiintstitms. LtcL, Fader* Gillette Rubber Co. voted in favor of dissolu ceptuci" thPoffer wss authorised by Flak atl Malay Stat--Qpexwtaderud. rubber tion and absorption by U. S. Rubber Co. At that time U. S. Rubber held 93% of Glllette'a p^^w^mci^'t^frt"9m1nlkP^2bbS MlAlSaalS?blr jt Woolro.MfJg. Co- Did- common <66.14% at the end of 19.16) including &?rp..I" c^mutatlV. pr.f.rred .took on Fkb. Sells Waterproof canvaa, iSgto anA fait purchases at 329 per share made since notice of stockholders meeting issued on Feb. 12. 1940. The offer of 329 per share was extended 23 1940 at $110 per share and dividend* with. footwear, woolen socks, and knitted the balance being equal to about 88.73 per fabrics.' __ .... ___ sharelncnsli onVtrk Rubber common, plus Nederland Langkat Rubber _ MsstschspplJ. to March 29. 1940 at which data substantially one-qu*rter uf a share of U. 9. Rubber com- Netherlands Vast Indies--Operated cxM* all the minority interest had accepted the of fer. Under dissolution, approximately 326 per share was received representing net book value plus 31 per share Jfpr good wlU. In early 1931, through formation of The Sam mon. On Mr.rch 12, 1940 stockholders of risk approved a proposal to dissolve the company. On March IB. 1940 Flak made an Initial distrlbutlon on Its common of IB In cash and onelourtb share of U. S. Rubber common tor rubber plantations. _ __ New York. Belting It Packing Co- DeL--Sells mechanics) rubber cootie si Pare Pare Rubber MsatschapplJ: Nettwr- lands East India*--Operated troll lubber son Corp.. acquired a controlling interest in Samson Tire it Rubber Corp. wtth tire plant at Los Angeles. Cal. In Jan., 1039. U. S. Rubber each share held. Payment (fractional shares in scrip) wns made April 2. 1940 at Central Honover Bank & Trust Co.. N. Y. On Apr. 1, plantations. _ United States Rubber Xxpcrt Co-Ltd- DeL-- Selling--foreign countries. Co. offered 39 per share for The Samson Corp. preferred and 34 per share for the common, thereby acquiring substantially oil the out standing minority amounts*. On June 15. 1939 stockholders of The Samson Corp. voted for dissolution. On June 3u. 1-39 the assets end businesses of The Samson Corp. end Samson 1911. a second distribution <>* <(> e?"**-o*t .hare was made and. on Mar. 18. 1843. a final distribution of 61i cents a share was made. As of Dec- 1. 1944. purchased assets and hu-.tncii ol I- H. Gilmer Co.. Philadelphia, manufacturer of flr.t rubber etc. Irwin )ivcstufT Corp.. Lid. of Montreal. Dominion Tyre It Rubber Co.. Ltd.. New Zealand--Sells rubber goods. S. A. de Predutt* en Caoutaooe. United SUtes Rubber Co.. Aktiebolac, Sire- den--Sells rubber goods. ., . United States Rubber Go- Aktleselakab. Denmark--Sella rubber goods. Tire 6c Rubber Co. were consolidated with Cm was a! o nuichasca in 1944. Untied States Rubber Co. (Smith Africa). U. S Rubber Co. In Nov.. IV35 purchased as&eu of Firestone Footwear Co. with rubber footwear plant at Hudson, Mass., from Firestone Tire it Rubber Co., paying therefor about S3.Q00.G00 This SUBSIDIARIES -^ Functions as both an operating and a hold ing companv As of Dec. 31. 1843 owned 100% 0,vhm.v nVar-e oM^TOrSfon indb?jnaa. Ltd.. South Africa--Sella rubber good*. United States Tire Co- Inc. Ind,--Irwctlve. As of Dec. 31. 1943 controlled lees than 1W% vDoltii5ngSpso'iwmesr 'oPf?thiie5. .f'olMllo,witn*9g:2-). Del.-Dta- plant was discontinued and its operations con solidated at other plants. On June 30. 1938. 16 subsidiaries were dis CoonVsoohhdd.P,teC"frRSLi:"-^---n--;-f---m----- rrVLtd,G. B--Holding coinpgny for certain foreign POM <? waxes and other materials. _. Latex Fiber Industries. Inc. <51%)* ~bb"M,, N. Y.-- solved and 16 additional sub.tidisrles were in cluded in ihe full consolidation for the first time including the r ihl**r plantations Later in 1939, 4 additional ub*{dianc. were dissolved, including the principal Ofgerotmg \;t>*idtery. U S Rubber Product* Ir.c In Dee 1913 *.nM its 23-slcry office building at Broadwav and 58th Street. New York, which Dominion Rubber C.. Ltd. <London>.C. B -- SelU fibber rood* Dominion R*ihher Co., Ltd., Conxd*--Mm- farturo and aeliv rubber good*.' See ap pended i.itcment Dominion Fi libber Munitions, Ltd. . ,_ Fabric Fire Hose Co- N. Y.--Manufacture Fibrous materisls. combined with latex, dispersions, etc., also paper, paper.board- and other paper products such as Lexlde, Laflex, tnsolex. ___ __ ..___ v/.djmsn Co. <38 63%). Mss*.--Produces rubber role cutting machine; During 1940 twelve-subsidiaries were liqui dated. Including Gillette Rubber Co., several it had owned since completion in 1912. and ThehFlsk Tl:c Co. Inc. ofthePhllipplne* Canadian rubsldiarie* and several which were moved t> leased space in L S. Rubber Co Bldg.. Rockefeller Center. N Y The Fisk T) re Co., Lkmllad (London). acquired in the Fisk transactioa la 1939. In