Document QMbK4eeZQ6eV9wvrQdJe463O8

--------------- - 1 ' ___ 11 -- ---- -- -- --'--' -- ' ' --- MOODY'S INDUSTRIAL MANUAL AMERICAN and FOREIGN TRANK J. ST. CLAIR, Editor-in-Chief Editorial Board Lloyd C. Sweet George H. Parsons Arthur W. Herrmann David M. Ellenwood David M. Day Albert C. Esokait Richard Olney 1963 Robert H. Messner, Publisher MOODY'S INVESTORS SERVICE, INC. 99 CHURCH STREET, NEW YORK 7, N. Y. PHILADELPHIA Suburban Station Bids. BOSTON CHICAGO LOS ANCELES WASHINGTON SAN FRANCISCO T5 Federil St- 13S So. La Salic St- 606 So. Hill St. Woodward Bid*. Ruai Bids. LONDON: MOODY'S INVESTORS SERVICE, LTD. Arthur Stmt, Us<)*a E.C. 4 Copyright, 1963 by Moody's Investors Service, Inc., New York--All rights reserved i H 1848 MUUD1 i> ll\JJlJdJL XlLjtLXj ilLLL\ LIABILITIES Accounts payable Accrued payroll . Miscella_n_e_o__u_s__a__c_c_r_u_e__d UabOltlea. BJProv. for estimated Income taxe 1962 916.425 480222 721.726 1535,840 1961 $783,420 449.329 745,705 1,440,629 1960 $886,885 461.950 822.640 1397,871 1959 $923353 488.370 715.685 2316327 1958 $857217 496.472 741.690 1.735.055 1957 $934,099 483.470 759368 1,013.868 1956 $953,752 506 .ITS 800,109 3.639.095 Total currant llablllUas . Deferred Income tax . mCapital stock -------Surplus______________ $3.654213 2250.000 30.984205 43.602.121 $3,419,083 2,369.000 30,984.205 40,573.735 $4,069,346 2.468,000 30.984205 37,875,713 $4.444335 2,177,000 30364205 35,798,019 $2,830,434 1308.000 30.984.205 34.167355 $3491,305 1.108.000 30.984205 35.048.386 5299J25 1.035.000 30384205 40409.455 Total NPRetOcPuErrReTnYt aascsectso--u--n---t-------a---n---a--l---y--s--i--s S80.590.539 $47,467,707 $77,346,023 $43,046,979 $75,397,264 $38,635,347 $73,403,489 $35,954,199 $70,489,994 $34,856,479 $70,331,897 $37.102266 $78,027,795 $43315.050 Additions at cost---------------------------- Retirements or sales... $814315 144241 $826,001 35,496 $1,753,303 113,481 $1573,660 149451 $2,783,093 None $2639,140 8,826 $3,427,935 3.014 dspbec. reserve--analysis Additions charged to Income. - - $2388361 $271,054 $1368,977 $2,184470 $1,942305 $1,785,943 $1372,443 Retire, renewals charged to reserve Other -------------------------------------------- 214.776 19.629 247571 98525 236326 3.467 2,752 None 7426 1,661 QJAt cost Market value: 1962, $28,79869. 5)Income and other taxes. mined, calculated on basis of book value of IH1962: Metals (at lower of cost or market-- finlsbed and In process). $1.158,159; materials and supplies (at average cost), $3,997,368; total, $5,155,527. E1960-59: Metals sold under contract Depreciation Policy: Annual provision for depredation Is based on quantity of ore ex tracted, In amount to equal book value of de preciable assets within estimated productive mining claims and land and estimated ton nage of ore recoverable therefrom. Caneral Note: Above accounts consolidate Churchill River Power Co., Ltd. in all years other subsidiaries are considered insignificant. S1962: Book values were: Mining claims Company's equity In net assets of Churchill lands, $11,821,429 mine and metallurgical Depletion Policy: Policy is to provide a River Power Co., wholly-owned subsidiary, plants and equipment, $47,346,715; powreerserve equal to book value of mine at time as shown by books of that company a*. Dec. Slant transmission line and equipment, $13,- that ore estimated to be recoverable from 31, 1962 amounted to S3.718.599, which is S3.- 557,646; total, $72,725,790. mine shall have been exhausted. Method of 218.099 in excess of company's investment in gjBspreaented by 2,757,973 no par shares. applying this policy is to charge against such subsidiary; excess is included in consoli operation a depletion provision per ton of are dated earned surplus. FINANOIAL. a operating data lamed per share. r*..K Row per share--common Dividends per share____________ Price range--N. Y, S. E.. -CanaAa Net *-ngfht assets per share --Number of shares___________________ Financial A Operating Ratios Current assets current liabilities.. % cash and securities to curr. assets % inventory to current assets--------% net current assets to net worth-- % property depreciated-------------------% nn depr.. depL & amt. to gr. prop. 1962 $4.10 S432 $3.00 SCTi--43Yi 59>,i-4654 $27.04 2,757373 13.99 60.73 10.08 63.64 7427 3.03 1961 $3.98 $4.73 $3.00 58 (i-45 57^4-45 $2535 2,737,973 13.59 63.44 1136 60.16 72.03 2.87 1960 $3.75 S4.46 $3.00 54(i-43`i 52-43 S2437 2,757,973 10.48 55.88 12.24 56.11 69.60 3.10 1959 $3.59 $427 $3.00 66-50>i 64-47(2 S2421 2,757,973 9.09 55.73 11.89 5a.73 6822 2.71 1953 S2.68 S3 23 $3.00 63-40U 62-39U $23.62 2,757,973 33.67 58.90 24-35 5330 66.45 2.S5 1957 $251 $3.45 $4.75 90-43 86(z-42(i $23.44 2,757,973 12.62 59.67 14.99 5C.19 66.30 2.73 1956 $7.62 SsS-25 $6.00 99-64 97^i-W $25.76 2,757,973 6.43 62.92 2U0 61.63 66.25 3-14 Capitalization: % Common stock and surplus--------- [ESales 4- Inventory--------------------------B% tales to net property. sales to total assets_____ % net Income to total assets. % net Income to net worth__ Analysis of Operations Sales of metals 6c mlsc. other Inc. Freight, refining expenses, etc..-- Cost and expenses______________-- Operating profit___ Income from investments_____ Total Income Provisions for Income taxes, etc. Net Income_______________________ 100.00 958 263.98 61.29 14.02 1545 % 100.00 14.00 60.67 2523 2.11 27.44 456 2228 100.00 908 237.81 61.96 14.18 1523 % 100.00 13.76 60.75 25.49 1.89 27.38 4.43 22.89 100.00 9.01 21733 62.44 13.73 15.03 % 100.00 13.73 58.73 27.54 2.01 2955 757 n.98 100.00 9.63 209.07 63.03 13.49 14.83 % 100.00 13.63 57.49 28.88 1.71 3059 9.18 21.41 100.00 7.41 379.55 54.SS 10.49 1135 crp 100.00 14.52 62.69 22.80 1.3C 25.16 7.20 17.96 100.00 6.93 189.85 59.51 11.43 12.17 % 300.00 13.95 6227 23.78 151 25.99 5.78 1951 100.00 11.14 290.04 76.77 26.92 29-55 % 100.00 9.05 4SJ9 45.06 0.93 45.99 11.81 34.18 revenue from treatment of custom ore and miscellaneous other income. CAPITAL STOCK L Hudson Bay Mining & Smelting Co., Ltd. capital stock; no pan AUTHORIZED--3,000,000 shares; issued and outstanding, 2,757,973 shares; no par. Dividend Record (In $) 1928-34 Nil 1935-36 1.00 1937___ 1.75 1938__ 150 1939___ 1.75 1940-45 2.00 1946-- UtS 1947___ 3.00 1948______A00 1949-- 4.00 1950-52 5.00 1953-54 LOO 1955__ 5.00 1956__ 6.00 1957 -- 4.75 1958-62 3.00 E1963___ 0.75 ETo Mar. 15. Dividends payable In nniMT' funds. PREEMPTIVE RIGHTS--Governing Instru ments contain no express provisions as to preemptive rights. OFFERED--(75,000 shares) Apr. I, 1959, at S60 per share by White, Weld & Co., New York and associates. Offering did not represent company financing. LISTED--New York. Montreal and Toronto Slock Exchanges. TRANSFER AGENTS -- Morgan Guaranty Trust Co., New York, and Royal Trust Co.. Winnipeg. Toronto and Montreal. REGISTRARS--Chase Manhattan Bank. New York, Montreal Trust Co., Montreal, and Crown Trust Co.. Winnipeg and Toronto. DIVIDEND DISBURSING AGENT -- Royal Trust Co.. Toronto. IMPERIAL CHEMICAL INDUSTRIES LTD. Iflitory: Registered tinder laws of Great Britain, Dec. 7. 1926. Business: Principally engaged In the produc tion of acids, alkalies, drags, dyestuffs, ex plosives, fertilizers, synthetic fibres, leathercloth, non-fexTous metals, paints, pesticides, petroleum chemicals and plastics. Property; Company operates over 100 fac tories in the United Kingdom, including Wilton development In North Yorkshire, covering 2,000 acres, and on which 23 plants were in operation in 1960, * Expenditure during 1961 amounted to 73 million, compared 'with 40 million ii i960. Among the larger projects sanctioned were extensions of manufacturing capacity for dyestuffs, para-xylene, 'Terylene' filament 5jrm polypropylene (including film), poly- lalt ?^0ind.e*; methacrylate, dendritic smaultdeanodn ldeiastthilleartdioonthp; lathnet ocnoTnsetSruSctiieonwohficil wlli iupply petroleum feedstock and fuel oil ^e rfr^hboulin*, worl" ot the company imil iVi ot Metals Division's strii --truction A filament ^hlt^Sf.arture. of `Terylene 1*61, will beat^Olram^, "nctioned durini starts production.!***.!*1 JjrtJlern Ireland factory >oTu*. 1962 A ne' rtvoplrt. fertilizer* c0J,c'ntratet JtVh.ra.on. V-tUUerlAd lel,lart bj lb nd of lacx. *"**- wms finished a Subsidiaries and Affiliates: Company has a controlling interest In the following com panies: Principal U. K. Subsidiaries: Almin Ltd. British Visqueen, Ltd. Cooke's Explosives Ltd. I.CJ. (Hyde) Ltd. Imperial Aluminium Co. Ltd. (51%) Imperial Chemical Industries (Export) Ltd. Imperial Metal Industries (Kynoch) Ltd. Imperial Metal Industries Ltd. Irvine Harbour Co. Lightning Fasteners Ltd. Marston Excelsior Ltd. Plant Protection. Ltd. Richardson's Fertilizers Ltd. Scottish Agricultural Industries Ltd. Settle Limes Ltd. Steatite & Porcelain Products Ltd. Ulster Fertilizers Ltd. Weardale Lead Co. Ltd. Within's Paper Staining Co. Ltd. auc loiiowwg suusjuuiry compaiues <luw alia) operate outside the United Kingdom: S. A. Azamon, Madrid; "Duperial" Argei tina; "Duperial" Uruguay; "Imperial Chen leal Industries" companies in Australia ar view Zealand, Belgium, Brazil. Chile. Franc Holland, Hong Kong, India. Israel, Japa Malaya. New York. Pakistan. Peru, So. Afric nanvnoJ^ur,e,?' .Magadi Soda Co. Ltd : con c5 in Arnold Hoffman KhewTa^oda^Co`*Ltd rtfttme^l Jointly with De Beers Industrial Corp Ltd., owns controlling interest in African Explo sives and Chemical Industries Ltd.; together with Courtaulds Ltd. all capital of British Nylon Spinners Ltd.; together with York shire Copper Works (Holding) Ltd. all stock of Yorkshire Imperial Metals. Ltd.; together with Celanese Corp. of America I see ge neral index) all the stock of Fiber Industries Inc. (formed in 195S to make polyester fiber in U. S. A.); jointly with Atul Products Ltd., entire stock of Atic Industries Ltd (India); jointly with Aluminum Co. of America (see general index) 50% in Almin Ltd., an English holding company for International Alloys Ltd., a secondary aluminum smelter and several fabricating concerns. Also owns over 38% of voting stock of Courtaulds Ltd. (see general index). In Oct.. 1962 jointly with Empressa Naciona] Calvo Sotelo, and Sociedad Anorung Cros of Barcelona, Spain formed Aloudia Empressa Para La Industria Quimica, S.A.. for manufac ture and sale of petro-chemicals and plastics in Spain. Officers: P. S. Chambers, Chinn.: R. Hol- royd. E. A. Bingen. L. H. Williams Dcp. Chran.; A G. Woods. Sec.; A. E. Frost, Treas. Directors: S. P. Chambers. Viscount Slim, P C. Alien. R. A Banks. A. Caress M J _ S. Clapham, E A. Bingen. S. F. Burmar Vis count Chandos. Lord Glcnconncr, R H'f"oyd, P. T Menzies, C. Paine. H. Smith B J Robarts, W. D. Scott, J. S. Gouriav James Tavlor R. C. Todhunter. L H. WiEizms, C. M. Wright, G K. Hampshire. Auditors: Price Waterhouse A Co., and Thomson McLintock A Co. VJlKJKJXJ J. <J JLii Annual Meeting: In May. No. of Stockholders: Dec. 31, 1961: Pre ferred. 63.655: common, 392.530. No. of Employees: (U. K.): Dec. 31.1961,114,- 229. Transfer Offices: Dean Bradley House, Horselerry, London. S. W. 1, England. Head Office: Imperial Chemical House, uiTihawir. London, S. W. 1, England. Consolidated Sales, years ended Dec, 31 {): 1955____ 411.000.000 1959_____ 508.508.900 1956___ . 435,300.000 1960_____ 558,428.000 1957____ 462.887.826 1961_____ 550.402.000 195_8_.._._..... 462.677.074 1962_____ 579,000.000 Distribution of Sales, years ended Dec. 31 (1.000,000): 1961 1960 U. K_____ 298.1 303.1 Abroad___________ 252.3 255.3 Total_____________ 550.4 558.4 INCOME ACCOUNTS Manufacturing & trading profit__ Auditors' and other fees Employees' pension fund, etc___ Obsolescence Sc depreciation ___ CONSOLIDATED INCOME ACCOUNT 1961 1960 1959 114.809.000 139.490.000 120,566.632 151.000 140.000 125.779 8.287.000 8.463.000 7,548.088 40.505,000 37.258.000 33,137,611 i ENDED DEC. 31 1958 1957 85,539.237 93528,642 116.883 111.194 7,342,262 7,217.698 29579.894 24,484572 1956 84.119.202 108.847 7.106.298 23.459.049 1955 83.463,797 101961 6,629.400 20,379,824 Net trading profit_____________ ____ Revenue from associated cos., etc-- Revenue from securities____________ ] Revenue from properties______________ f Miscellaneous Income______ ___________ J 65.866.000 6,152,000 2536,000 93.629.000 5,565.000 1,841,000 79,755,154 4.638.471 [ 251,443 j---- --- ---( 296.363 51500.198 3.161,791 366501 565590 61515.178 3.000594 376.455 607.686 53.445.008 2,621523 304,630 378551 56,352,612 2195,479 449,073 133159 491929 Total income Provision for taxes, etc. Debenture Sc loan interest Employees profit sharing------------------- 74.254.000 27,739.000 3.668.000 8,734,000 101,035,000 40.472.000 4,427.000 8564,000 84,941,431 31530.860 4,725.314 7,100,157 55593.780 20,658.837 5,673.809 5,406,177 65.499313 26528.078 5,406523 4,958594 56.749.712 23,764534 3.481.630 3446.643 59.822952 23.900,433 3,409.700 2933,467 Consolidated net income__________ Minority dividends, etc. Undistnb. subsid. prof, applic. to LCJ. 34,113.000 1,738,000 3,574.000 47,572,000 2,378,000 5,494.000 41585.100 2570,121 5.459549 23354,957 2,130.160 4,070,356 28.807.218 1,972,870 4.692552 26556.605 2.184.868 4.878598 29,678.652 1928991 3.872.898 Net income (company only)--------- Revenue reserveGeneral reserve______________________ Capital reserve Revenue reserve--Stock replace.____ Preference dividends_________________ 'Ordinary dividends___________________ 28,801,000 784.000 4,500.000 El.064,000 E22.453.000 39,700,000 13.447,000 4.000.000 El.064.000 021,189,000 33,855,730 12.352,642 3.000.000 _B1.163.814 . GJ17.339.274 17,634.441 2,751,090 3,000,000 0983502 010,899,849 22,141,794 5,220,584 8500.000 CT 2500.000 0969.128 09,952382 19593.139 5,665,035 9500.000 CT 750,000 0969,128 08525.113 23,977,163 .2 000,000 10,000,000 3.000,000 E969.128 0)8,167,631 Balance for year--------------------------- Nil Nil Nil Nil Nil d 4516.137 d 159996 0Net after deducting Income tax. BALANCE 6HEET8 ASSETS Land, buildings, etc. ------------------------- Obsolescence Sc depreciation_____ -- Net property________________________ ETools, equipment, etc. Patents, etc. ilnvest. in assoc, companies Inv. in subs, not consolidated Tax reserve certificates ___ ~ Cash --- Short-term deposits Government securities-- J Marketable investments rinventories. Sundry debtors_______________ _______ CONSOLIDATED BALANCE SHEET, A) 1961 1960 1959 701.283.000 641.483.000 598,286572 159,770,000 124.026.000 101,197,589 , 541.513.000 517,457,000 437,088.983 OF DEC. 31 1958 562,808,005 70,428,086 492,379,919 2.573.000 56.748,000 1,204.000 350.000 7.808.000 17,038,000 2.418.000 49,988,000 829,000 3,250.000 9,078.000) 5.649.000 [ 915.598 40,320.371 3,416.989 3,115,350 15565535 561,450 34,543.141 278,250 5,602,473 7.960.000 237.520.000 108.413.000 6.153.000 137543.000 93597.000 5,903.394 115521,947 86,771585 4,949,130 113,713.149 72.042.380 1957 527.807300 129.547,972 398559528 16.878.537 19,080527 4.400.000 12910,911 1956 467,419.761 108.633.988 358,785,773 16.585,954 16.768566 3,100,000 7,072926 4,799,398 115930,073 68.744939 1955 409,645,631 88,527,012 321.118,619 3.877,464 16.645.736 13.885,536 4,100,000 17,661959 1127995 5,542,170 105264,714 63.090992 Total 881,117,000 825,562,000 768,719.455 724,069,892 655,605147 591.086929 552913985 LIABILITIES Preference stock -- Ordinary stock___ Minority interest . Debentures Sc secured loans Future U. K. income tax 34,737,000 266.608.000 39,744.000 58.751.000 31.583,000 34.737.000 251.589.000 36,478.000 60.110.000 41,947.000 34,736,773 246509,422 25.841,929 86.108.267 37,063,028 34.708,773 236.953960 25,043,085 93.416,382 26.318,746 33,708,773 144233,090 23,196,189 117,361,613 26,970,002 33,708,773 143,045.436 21.199.962 70,544,672 24.432.682 33,708,773 142,045,750 19.514,369 68.376.026 27534,713 g!Provision tor final dividends (net)-- ank overdrafts Sundry creditors, etc. _______________ Contingency provision, taxes, etc. -- Capital account Revenue account _____________________ 10581.000 62.332,000 70,006.000 203.797.000 103578.000 9.328.000 53.676,000 67,579,000 169.583.000 100.535.000 7,081,615 49,032.471 52584517 146592.438 83.668,995 8.982,855 47,926,420 48.691.283 134.854.731 67,174,357 10,058,523 50,752,899 49575.072 128.314.665 71,434,321 14.850.135 46,716.241 50,123.672 121.847,088 64,617,670 .385.143 4,928,775 44,179,060 39578553 106,573525 60.689,498 Total . . 881,117.000 825,535,000 768,719,455 724.069,892 665555,,660055..1147 591.0*65*9 552513585 EThese investment* have been taken at or than 20% of original issue is outstanding, com- includes 9% prior to stock dividend. @Also ?under cost or as revalued in 1928, less amounts written off. EMarket value: 1961, 8143.000: 1960, 6,- any will have right on 60 days' notice during 50% stock paid before cash div. an. or Feb. in 1964 to 1966, to convert loan Price Range: 1962 1961 I960 19591958 stock into ord. shares, with holders having High-______ 62/0 82/9 76/ 6 62/7 % 38/ 3 620,00; 1959. 6.639,747; 1958, 5140.433: 1957, right to repayment at par. Low_______ 47/0 54/4% 53/11 33/1% 23/11 7.857,472; 1956, 5,690,306; 1955, 7,450,997. Callable at par, beginning June 30, 1972 on Registrar: W. N. Lacon. EAt or under cost. 3 months' notice. Interest J6cD. Listed: All classes listed on London Stock @1956 to 1961. Not reported separately and Issued in Feb.-Mar., 1962 as an alternative Exchange and quoted in Birmingham. Bristol, Included under "Land, building, etc." offer for ord. shares of Courtaulds Ltd. on Dublin, Edinburgh, Glasgow, Liverpool, Man E1956-61: Not reported separately and in basis of 25 of loan stock for each 10 of chester. Cardiff, Oldham, Newcastle and Shef cluded under "Contingency provision, taxes, Courtauld's ord. stock. field. Ordinary also quoted in Belfast, New etc." Listed on London Stock Exchange. port, Paris and Amsterdam. LONG-TERM DEBT 1. 4'/io Unsecured Loan Stock, due 1372-74: Authorized and outstanding, Dec. 31, 1961, 30.000,000: due Mar. 31, 1974. Ofiered to stock holders Mar. 10, 1954. Callable as a whole or In any part at par on or at any time after Price Range: 1962, 110Ti-99. CAPITAL L Imperial Chemical Industries, Ltd. 5% cumulative preference: par L Authorized, 34,736,773; issued and paid up 34,736,773; par 1. American Depositary Receipts: There are outstanding American depositary receipts for ordinary registered shares issued by Morgan Guaranty Trust Co., New York, on a share for share basis. Outstanding. Jan. 17. 1963, 1533.791 shares. Dividends (payments since 1929 follow): Mar. 31. 1974. On liquidation of company en titled to 101. listed on London Stock Ex change. Has preference as to assets dividends. Dividend rata changed from 7% to 5% Juna 17, 1954. 1930__ 1055 1933__ 0.179 1936-- 059 1931-- 10.128 1934___ 0579 1937__ 0502 1932___ $0,124 1935__ 0592 1938-- 0587 Price Range; 1962 , 8S%-77; 1961. 83-75. 2. S'/j% Unsecured Loan Stock, 1977-79: Authorized, 40,000,000; outstanding, Dec. 31, 1961, 254,750; redeemable at par Jan. 1, 1979; registered and transferable in amounts and multiples of 50. Interest JScJ 1. Callable as a whole or in part on 3 months' notice at any time on or after Jan. 1, 1977 at par. Offered at 96% in Dec., 1956, to preference and ordinary stockholders of record Nov. 23. 1956. Rights expired June 2, 1957. Listed on London Stock Exchange. Price Range; 1961, 93%-84; 1961, 93-84',i. 3. 414% Swiss Franc Bonds, due 1977: Dated June. 1962; outstanding, Dec. 31, 1962. S\v Pcs 60.000,000; due June 30, 1977 at par. Non-callable during first 4 years. Interest June 30. Listed In Zurich Bourse. Price Range: 1962. I04%-103%. Issued In exchange for shares of acquired companies. The shares were converted Into stock in 1935. Regular dividends paid TScA 1. Price Range: 1962 1961 1960 1959 1958 High----------- 16/10 16/1 18/0 19/1% 17/S Low---------- 13/ 6 13/7 ',4 15/414 15/6 15/1 2. Imperial Chemical Industries LnL ordi nary-, par 1: Authorized. 375,000,000; Issued Mar. 16, 1962, 266,607900 ordinary stock in units of 1. Is entitled to surplus assets afterrepayinent of all capitaL Is entitled1 to profits distrib utable by way of dividend, after payment of 5% plus arrears (if any) on the preference stock. Has one vote per 1 of stock. Is sued in exchange for shares of acquired com- Sanies. The shares were converted Into stock i 1935. 1939___ 1942__ 0534 0152 1948__ 0161 1950___ 0139 1953___ 0197 1956__ 0.141 1959__ 0.136 @1963. 0.119 1940__ 1943-44 1947-48 1931__ S195457__ 1960___ 0.18 0154 0505 0.161 0180 0.14 0516 1941-- 1945__ 1949-- 1952___ 1955___ @1958__ @1961-62 0.149 0.153 0.180 0509 0140 0.158 0516 JDAlao 100% in stock; cash Includes $0,129 prior to stock: ddiivvidl'end', @Also 50% in stock; $0.12 paid prior to stock div. SIncludes- $0,095 proceeds sale of rights In 1961. @To June 10. Ujnnl"isted Trading on American Stock Ex change. SPrice Range: High---------- 1962 1961 1960 19592)1958 8A 11% 10% 8%5% Low---------- 6% 71* 7,. 4%3% 4. 6'/,% convertible unsecured loan stock Dividends paid: 1927 to 1929. 8%; 1930, 6%; BAmerican depositary receipts. due 1972-77: Dated Feb., 1362; outstanding, 1931. 4%%: 1932, 6%; 1933, 7%%; 1934, 1935 and @After stk. div.; before. 6%-5. Dec. 31. 1962, 75.951,805. 1936. 8%: 1937. 814%: 1938 to 1945. Inch. 8%: Subscription Rights: Ordinary stockholders Convertible into 32 ordinary shares per 100 1946 to 1949, 10%; 1950, 12%; 1951 and 1952, Of record Jan. 20, 1961, had right to subscribe loan stock in Dec., 1963, into 31 ord. shares in 13%: 1953, 15%; 01954 to 1956, 10%; 1957, 12%; to a maximum of 12,910,000 shares of 1 each Dec., 1964. and into 30 ord. shares in Dec., @1958, 8%; 1959, ll>i%; 1960 to 1962, 13%%. at 55*. per share, on basts of one new chare 1965. If on or before Feb. 28, 1366 not more. (IIAlso paid 100% In stock In June, 1954; lor each 20 shares held. I MOODY'S INDUSTRIAL MANUAL 3047 asets of IShaTCS. mi Dec. - Dt tr shares itect Ini loss on Lumber end lor let com-, legation . it* split v dr 3750.- ; anent ol >pllcable ol 122.2-50 per TRANSTEB AGENT AND REGISTRAR -- AUTHORIZED--240,000 shares; issued and Guaranty Truet Co. ol Canaria. Toronto. , outstanding. 156,075 shares; no par (no par LISTED--On Toronto Stock Exchange. shame split 4-lor-l in June, 1956). - OTTERED--(4.500 shares) in in And. 1956 by Masters Smith A Co. Ltd. and Ham- Canadian rntj.--.H/,-,.! Paper Co. owns eon fic Co- LtcL. Toronto, at $190 par ahare over 99% of stock. . (proceeds to company, ISO per share) with erarrants (since-expired). .* -m-i*.. ./ PRICE RANGE------1985 1964 1963 *1963 1961 - High--------tiu-----. 0112 t'108 '.109 li'108 102 DIVIDEND RECORD-- 1947__'|0JO -1945-53 SL98 -1953-55 $L38 __ le0v.75. A, b, ............. - rid'j Low------------Lti`-:10S - 106 106-hlot r'96 , `i--Ho par thares (after 4-far-l split);. 2. Henderabet Paper Prediicte. Ltd.' 1956-_Z$0J2%.-t 1967___;|0.40 " SO JO 1959-65. . XD: VOi idG RIGHTS -- Has exclusive voting power, on vote par share, with restrictions (see preference. No. I)."' - 7" "'1 ".:j. TBAltSm AGENT AND REGISTRAR -- Guaranty Trust Co. of Canada. Toronto. ISSUED--In connection with purchase of as sets of G. W. Hendezahot Corrugated Paper Co- Ltd. i-j.'.-.Iiils br-: tr'.--.'-Tram -t-n. OJTXRZD--Se CAPITAL STRUCTURE LONG TEHM DEBT ' . Issue ... IS. 1 debenture 3%s, 1976 2. Cone, subord. deb. 4a, 1990 . 1 6%% note, due 1980 _______ A 4%% note, due 1990 ______ 5. Other notes_-_______ -- A Subsidiaries' debt ________ CELANESE.; CORPORATION -:f. S-5.-- s,;n;. `rt JM'-V, ---:t rT Vti- L-.'r - t Stcirlrti a 1.13 : aJ.^t-Times ' Amount ebarres Earned Ratine' "'l Outstanding' 1965 1964 iz ..u.'c,. *-.i i'i. .tv., T-'hbhv- Tatareat Dates t O.nd:PrCicaell Price Ran*e ,V'.' 1965 - 1964 Bee 'L" 38,988.0001 AScO 1 91V*- 87% 91%- 90 a 76J59J001 AlcO I ' 1I5%-104% _______ ____ * ** 80.000,0001 ____ . , 75,000,000 A06 7_3_7_; AAO 1 ' 150,000 *77,620,029, CAPITAL STOCK Issue L 4%% cum. prelerred, A _ .2. S3 Cum, eonv. preference . 3. 7% cum. second preferred A Common -- Par Amount Value Outrtandinj S100 908,602 she. No par 100,000 she. 100 32J98 shs. No par HJI3J07J94 aha. Earned per Sh. 1965 1964 |6A40 $54.45 1J69J9 L559.T0 5.10 - A2S Dlvs. per Sh. .. 1965 1964 .. /34.50 34.50 1 LOO____ 7.00 7.00 L95 L70 Price Range 1965 1964 99 - 90% 97%- 93 V* 73 - 67 67%- 65 156 -150 151>i-140 92 - 72% 75%- 57% (DChjtstasjdtn* Apr. 5, 1906. Q)9ubjeot to change; also callable far sinking fund. test 3) Privately plaoed. HISTORY Incorporated In Delaware, Jan. 5, 1918, as The American Cellulose Sc Chemical MIR. Co.. Ltd.; name-changed to Celanese Corporation of America Apr. 28, 1927; present title adopt ed Apr. 13, 1966. In 1927 acquired control of Celluloid Pen Amcel Co., Inc., Del.--Export rhemeell Ltd. (formerly Chexncell (1963) Ltd.) (Ca__n_a_da--57%). --(. see appended statement) Petrochemicals, cellulose acetate and chem- --leal fibers. --------------------------------- ----------Western Chemicada Ltd. of Canada. Columbia Cellulose Co. (B. C.) (87.6%) upon turning over to the latter a l owned subsidiary. Safety Celluloid Co. hxloid Carp, was merged with company in Dec- 194L On April 9. 1941, stockholders of Celanese Corp- approved plan dated March 7,1941 pro Skeens Kraft Ltd. Qulnhoa General Mexico--(40%)-- viding for merger with Celluloid Corp. Merger was consummated Deo. 5. 194L Tot complete details of merger plan, see Moody's 1941 Industrial .1 On Feb. 7. 1948, stockholders approved plan for merger of Tubiza Rayon Corp. Stockhold ers of latter company approved plan on Feb. A 1948. Under terms of merger holders of Tubixe Rayon 4%% preferred stock received In exchange 5A75 preferred stock ol Celanese Corp. on a share for sham basis la exchange Celanese Venezolana S. A., Venezuela--(55%) --acetate yarn and polyester resins. Cel Euro N. V. (The Netherlands) Amcel (United Kingdom) Ltd. ChampUn Petroleum Co. (DeL)--Produces, refines and market oil and gas. FESCO Inc. (Del.)--Manufactures and mar kets plastic housewares. ~elanese Coatings Co. (formerly Devoe fic Reynolds Co., Inc.) (DeL)--Paints and re paints; operates some 100 company-owned consumer branches. Produces odl and gaa from wella throughout the Mid-continent region; refines and pro les raw materlsli and., operates some 1200 sendee stations in the Mid-west In forest products, Columbia CdJuloae Co. Ltd., an 87% subsidiary; farms forests and produces and sells high alpha dissolving pulps and paper pulps, and Kraft pulp for papers and paper board. Major operating divisions and subsidiaries re Celanese Fibers Co.. Celanese Fibers Marketing Oo- Cekaneee Cbemical Co., Celan- Plaaics Co.. Celanese Coatings, Co., ChampUn Petroleum Co. PRINCIPAL PLANTS Sk PROPERTIES Company and its domestic and foreign subsidiaries own 59pl.a...n...t.s......t.h...r.o...u..g...h...o..u...t.....t.he world. Amcelle plant near Cumberland, Md. (2,800,000 sq. ft.). Produces acetate and Arnel triacetate filament yarn, Celaperm acetate tor each 3 rnmiwin shares of Tubixe Rayon holders received 2 common shares of Csltnesa Carp. _ lated products. Celanese Colombians S. A., Colombia--(51J%) --acetate yarn, and polyester resins. yarn and Fortiaan rayon yarn. Celeo plant near Narrows, Va. (1,400,000 sq. ft.). Produces cellulose acetate compounds On Dec! L 1947, company took over isQ aetivltlea formerly conducted by Celanese Co- Inn. Sayles-BUhsore Bleacherles, Inc. (DeL)--dyelof *yw4 ftniahiaf. acetate filament yarn and staple fiber, acetate tow for cigarette filters. -- Celanese Plastics Corp- Celanese Chronical Fiber 'Industries, Inc. (DeL) (52%%)--Pro Celriver plant at Rock Hill, S. C. (1.300.000 Corp-- Tubiza. Inc.. Staunton Textile Corp. duces _Tortrei filament yam and staple sq. ft.) Produces cellulose acetate and triace and Bridgewater Textile Corp. All _ sldlarles were dissolved Nov. 29, 1947. t mo _ V, , Amoel Europe. Belgium--Triacetate yam. tate compounds; acetate and ArneL triacetate filament yarns and. staple fibers, t e? In May, 1953 acquired Marco .Chemicals. Other Affiliates: _____;i; ' * Chemcei plant at Bishop, -Tex. produces Inn, Linden. N. J- a producer of polyastar raalna. In 1959 acquired stock of Amcel Propulsion, -Inc. (dissolved Mar., 1962). ' In Aug- 1959 formed CnemcelCLtd.' to co ordinate all foreign activities (dissolved In Jan.. 1963).-Also-acquired Royal MU. Co,, ~Presoottr~Arlzr~(RoyaI-diaaulvwd~Jungri99l. Substantial stock Interests were held direct ly or indirectly In the following; , Celanese Mexicans:. S. A-'Mexico (483%)-- --Acetate, triacetate rand nylon yirss and acetate tow :fom cigarette filters, cello- ;~tphane and purified cotton linters. Affiliate: _-._tampco de Mexico, S. A.--Plastics. ^ from butane- and propane- a- wide- range of petrochemicals! and Celoon acetal co-polymer resin______ --> -,, ^ Pampa, Tex. .plant produces from-butane and propane a wide range of petrochemicals. Newark, N. J. (900,000 . sq. _ft.)-. Produces acetate film and sheeting. " - - v Houston. Tex, plant produces Tartlflex hlgh- Canadian Chemical Sc Cellulose Co.' Ltd., a holding company-subsidiary, was dissolved in indirectly lru Cia Petroquimica Braaileira Copebras," Brazil- (carbon black). Mitsubishi In May, 1960, acquired net assets of Flastio Horizons, Inc., manufacturers of polyethylene film with plants is Paterson, N. J.: and Bata via. HL j In Aug. 1963. acquired "<< in Mar..1964. dis solved, Yardley Plastic Co., Columbus, O' In Dec. 1963 acquired control of Fiber Industries, Inc. .(formerly 50% owned). Da Acetate Co- Ltd- Japan (acetate filament yarn and fibers). Ticona Folymerwerke Gm.bJS.. Gesmany (acetal copolymer plastic). C. A. Flbraa Qoimicaa Coperbraa Polyplastics Ltd. Joint vesture of subsidiary, Columbia Cell ulose Oo. Ltd. and Sveneka CeTlnlnse AJctlebolageC Sweeden, will build a 380,000.000 at Prince Rupert, B. CL Canaria, Joint venture of company arid KonfakUJxe .Zout- 1963 also acquired majority interest la. Cbesn- ceU (-1983) Ltd. -V, ... --------t. Do Aug. 1964 acquired net ssin'rti of Devoe fit KatJem.'-'N. ~V. will ., construct, a.s chemical pleat In'the Netherlands. ..cuc.iS Reynolds Co.. Inc. for 960J94J4A h BUSINESS: iA-' PRODUCTT In Oct. 1964 merged ChampUn OR Ski Re fining Co. by Issuance ol 2J48J8Z . commoo . Ranks as a major diversified' teternatibnel Cbemical Company speciaMiing In proce ensity'polyethylene molding compouiUDC Rome, Ga. (1200,000 oq. ft.) producing'black acetate yarn and rayon filament yarn; staple fiber and tow.-- " ----- -- -- -- Bridgewater, Va( (97.000 sq: ft.)--warp knit fabrics .from acetate and Arnel - triacetate yam. Belvidera, . N.'-J" (147,000 sq. ft.)r.'-I-AAc--et+ate film, sheet, tirlacetate photo-base film. - Bay CltrJ Tex.--Acetyl : chemicals from oxygen ana ethylene gsa. - t-----'sh. - New Castle, DeL; Batavia-in.--Polyethylene film for-packaging, snri blow-molded bottles and containers.,-.-^:*MQi;~T*- ,. \ , . Alta ' Loin*., ; Calif. '<--? Polyethylene, blow molded bottles and^containers and. film for iu>2''tnanU- and 100.000 new convertible preference shares of - 2349.987 common and loojJlX) XP-new.____ petroleum hydrocerbone and . cellulose facture o^ highvenergy fuelx jaad: propulsion ertlble preference shares. o-P^TtbTyri'A ngx lln Npv..: 1964. 300,479 common'share*'were i; Greer, it--Polyester film plazrLVA'-'''- issued-; for ownership of . two : corporations i Ognpeny Is loading producer of cellulose K-Bertavia. HL-=Plastics_plant.-"tt't^SW whose: principal, asset was- the'.outstanding acetate-Clamant hna staple1 .yarns and .is , -McKees Bocks! Pa^-rPleeticIlonsewsres.----- stock of Federal' Enameling, fit. stamping now carried ona__s_F__E_S__C__O_,_f_e_e__. Co.it sole..producer . of AmieL aberr.Also makes rayon, triacetate -'apparel ! -Ssyles Blltznore Bleacherles, Inc.; Asheville, N. > <L -Palstine--Dyeing Cn.*ic^St. .'Johna- In "June 1964,".Cbe3neeIL (1963) lALTacqatred I'-Marketa polyeeteri and'sjrhm 66 fibeftnade' viTie N'y.^dyeingand fieiimnr.textiles. stock of WesternChemlcela LteLTWMUS; cas-lc by,, FQ>r-^S3uatrii--Inc-;a.Ifi2J% .owned Fiber Industries,dScTSheltoT N.'C-^Fortrel lln . May 1965jtscqulred, through^ ai snbsJdV 1 ysmrfirf stapie fiberA'-rf ^ s3 dociandl1 MOODY'S INDUSTRIAL MANUAL 2645 i rear 3 after aa an o-T. B .Intriwy a ay be J ; assets j es equa ed debt fiscaLy Ties inti >e out npany(j ter May paying and (b s have r net 0.000. tructioa nder_ g capita on May . Wi: nture-' IMPERIAL CHEMICAL INDUSTRIES LTD. Registered under laws <xf Great ICl (Organics) Inc., U. S. A. (see appended Officers: S. P. Chambers, Chum.; F- Eol- _____ tec. 7. me. statement). royd, P. C. Allen. L. H. Williams, Lord easiness: Principally engaged In the produo Id America Inc. 6j- of acids, alkalies, coated fabrics, drugs, Chrmical Manufacturing Co. of Delaware Beeching. Dep. Chinn.; A. G. Woods. Sec.; A. E. Frost. Treas. --... ^-Stuffs, explosives, fertilizers, synthetic ^ paints, pesticides, petroleum chemicals [plastics. ......... _ rcperty; Company operates over 100 lac es - In the United Kingdom. including fawn development in North Yorkshire, EJSlng 2,000 acres, and on which 23 plants Ef In operation In 1960. ,. _ fg^pital Expenditures In 1S06 amounted to Principal Affiliates: United Kingdom: Wiigll.li Sewing Cotton Co. Ltd.. Imperial; aAjluuminium - Co. LtdBritish -Titan Products Co. Ltd., Klinger Manufacturing `Co. Ltd- Lister Sc Co. Ltd- Phillips-Imperial Petroleum Ltd., Car rington 8c Dewhurat Group Ltd- Vlyella International Ltd- Yorkshire Imperial Metals Ltd. Border Chemocaip Ltd. Directors: S. P. Chambers, P. C Allen. M_ J. S. Clapham. Viscount Amory. S. F. Burman. Viscount Chandot, Lord Glenconner G. T. Whiteby, P. T. Menzies, H. Smith, D. J. Robarts, T. C. Bagnall. E. X. CalVard. J. D. Rose. J. E. Sdason, R. S. Wright. Lord Beerfling. Sir Ronald Holroyd. L. K. Williams. Viscount Boyd of Merton. E. G. Leslie lazeJL J..H. Townsend. Ftg? million (Inch 52 million overseas) tfinst 180 million In 1965. Mayor projects j^re expansion of ethylene "'< plastic proDftlon. tijndyal Subsidiaries: Sash Visqueen Ltd. (U. K.) O Fibres Ltd. (U. K.) nperial Metal Industries Ltd. (U. K.) -- This group comprises 47 companies, indeluding Imperial Metal Industries (Ky- noch) Ltd., Lightning Fasteners, LtdRange Boilers, Ltd., Marston Excelsior, _?- Ltd. m Scottish Agricultural Industries Ltd. South Africa: African Explosive* & Chem ical Industries Ltd., South African Nylon Spinners (Pty.) Ltd. U. S. A.: Fiber Industries, Inc., Rubicon Chemicals, Inc. In Oct., 1962 jointly with Empressa Nacional Calvo Sotelo, and Sociedad Anoning Cros of Barcelona. Spain formed Alcudia Empressa Para La Industria Quimica. S.A., for manufac ture and sale of petro-chemicala and plastics in Spain. In 1963 jointly with Celanese Corn, of Amer ica formed Icatal Plastics Ltd. owning 59% in the new company. Auditors: Price Waterhouse Sc Co., *nd Thomson McLlntock 8c Co. Annual Meeting: March 30th. No. of Stockholders: Dec. 31. 1986: Pre ferred, 53,701; common, S62.115. No. ef Employees: (group in U. K.) Dec. 31, 1966. 324.000. Overseas. 47400. Transfer Offices: Dean Bradley Eouse, Horseferry, London. S. W. 1, England. Head Office: Imperial Chemical Eouse, Mill hank, London, S. W. 1. Tnglawrt psiustnas Quimicas Argentinas S. A. Imperial Chemical Industries of Australia 8c 'SJiew Zealand Ltd. Imperial Chemical Industries of Canada Ltd. Canadian Industries Ltd. (see appended stateTmentl. JQ (Europa) Ltd. In July 1964 British Nylon Spinners Ltd. (formerly owned jointly with Courtauids. Consolidated Sales, years ended Dec. 31 (): Ltd.) became a fully owned subsidary. In i 1959_____ 506.50S.900 I960_____ 624.000.000 consideration thereof holdings of Cortaulds ; 1960_____ 558.42S.000 ordinary stock (37)i%) were concelled and \ 1961_____ 550.402.000 company agreed to pay 2.000,000 a year fori 1962_____- CT8.92S.000 1964 ......... 720.200.000 1965.......... 815.900.000 3966--.. 885.900.000 5 yrs. Distribution ef Sales, years ended Dec. 31 Mkali & Chemical Corp. of India Ltd. .Oienucals 4: Fibres of India Ltd. "Kagadi Soda Co. Ltd. (Kenya! yi (South Africa) Ltd. In 1964 jointly with Phillips Petroleum Co. , (1.000,000): formed Phillips Imperial Chemicals Ltd. Syd- \ U. K....................... ney, Australia to manufacture synthetic rub Abroad________ ber and carbon black. Total ___________ 3966 442.8 442.4 8852 1965 422.9 393.0 815.9 11964 373.8 346.4 720.2 10ICOME ACCOUKT8 CONSOLIDATED INCOME ACCOUNT. YEARS ENDED DEC. 31 1965 1965 E1964 1963 1962 Useufacturing & trading profit 189.868.000 194,120.000 185.400.000 149.610.000 126.136.000 .-i.'aitors' fees 268.000 220,000 200.000 168.000 157.000 knployees' pension fund, etc________ 14.000,000 12.200.000 10.800.000 10.596.000 &.813.0OO 4-Otoolescence 8c depreciation________ 76.800.000 68.800.000 61,300,000 54.145.000 44.489.000 "-Net trading profit_______ ______ levenue from associated co- etc___ .terenue from securities____________ - Sevenue from properties__" _________ Miscellaneous income_____ ___________ 98.800.000 7,500.000 900.000 1.500.000 112.900.000 7,400.000 800,000 2.200.000 113.100.000 E 10.800,000 1.100.000 2.500.000 84.701.00fi ffil3.593.000 780,000 1.895.000 72,677.000 E9.706.000 969,0001 1^23.000J E 2?Total Income 108,700,000 123.300.000 127^00,000 100369.000 84,575,000 1961 114,809.000 151.000 8^87.000 40.505.000 65.866.000 6.152.000 2.236.000 74^54,000 I960 139.490.000 140 000 .462.000 37.256 000 93.629.000 5,^6u ,00v 1,841.000 101,035,000 don for taxes, etc. ebenture 8c loan Interest_____ nmployees profit sharing S28.e00.000 17.000.000 6.000.000 22.500.000 11.600.000 10.600,000 47^00.000 6.800.000 10300.000 41,575.000 5.180.000 6.880.000 : Group net Income onty Interest, etc.________________ strib. tubaid. prof, appllc. to LCX 57JOO.OOO 4.900.000 1.600.000 78,600.000 - 4.400,000 5.600.000 61300.000 3.600.000 7.400.000 43.334.000 2-838.000 5.414.000 Net ineeme (company only)______ venue reserve_________ I__________ _ ioltal reserve Preference dividends gOntmary dividends________________ ae tax on dividends_____________ 50.600.000 . 600,000 * i'So.So 62.400.000 16.600.000 66.600,000 50.200,000 35,082.000 22.900,000 " 4.100,000 " ' 2,795.000 - ? 13,000.000 13.000.000 - - 6.000.000 -1.000.000 * ' 1,100.000 --------- 1,064,000 'v 81,700,000 82.000.000 j -25,223.000 'Balance for year________________ - ~ Nil Nil Nil .. -NU QJNe*' after deducting Income ' -.eluding "2200.000 dividend frbm~CblirtffIlrdltri963. 4)729,000;19tU, EkJUb.OOOT Includes British Nylon Spinners Ltd. from Aug. L iAfter deducting proportion of Income tax. . . `J\ 31.975.000 7.487.000 6.719.000 27.73S.000 3.668.000 8.734.000 38.394,000 2^81.000 3.173.000 34.113.000 1.738.000 3.574.000 32.840.000 28.801,000 3.604.000 784,000 5.500.000 4.500.000 ----1,064,000 - - EDI,064,000 22.CTE.000 - ID22,453,000 NU Mil 40.472.000 4.427.000 8.564.000 47.572.000 2.378.000 5.494.000 39,700.000 "12.447.000 4.000.000 El.064.000 E21.18S.000 NU RLANCE SHECT8 ASSETS ad, buildings, etc. * oiescence 8: depreciation________ property________________________ plnvest. in assoc, companies_______ v._ In subs, not consolidated________ -J* reserve certificates____________ __ JGoodwiU_________ ______ ____________ ort-term deposits ________________ rketable investments____________ nventoriesI___________ debtors CONSOLIDATED BALANCE SHEET, AS Or DEC. E1966 E1965 1964 1207,300.000 1.121.100.000 946800300 428.600.000 - - 362.800.000 304.600,000 ` 878.700.000 - 758300.000 644300,000 1.900.000 - ' 1,700,000 1.700.000 118.900.000 _ .-108300,000 90800.000 38.700.000 38.700,000 ' 38.700.000 6,700200 ' 7.000,000 8.800.000 ' 3 7863.000 19.200200 ~ 12.900,000 . 28.700.00C - -35.019,000 24.100,000- r- 26,900.000 34,10C .001 25.995.000 195300.000 .- 186,600.000 a .156.000.000 ,o. .129802.000 197.700,000 180.000.000 _ . 162.600.000 ui 13L098.000- 1961 . 700,743.000 - 869,230.000 ..541313.000 2.573.000 J 56.748,000 : 1304.000 ..;, 350,000 J 1960 641.483.000 124,026,000 517.457.000 . 2.418.000 49,988.000 829.000 `' 3.350,000 - 7.082.000 11.493.000 18.188.000 128.672.000 117.440.000 r tTmsTooo' - . 9.078.000 17.038.000 -.5.649,000 - 7.960.000 ,, 6.153.000 137.510.000 - `107.243.000 ^^108.413.000 3 93397.000 J Total___ :___________________ liabilities , -1,481300,000 1320300.000 1465.600.000 1,046,835800 .'97L645,000 Tr881417,000 ';; . 825.562.000 . -au-*, - - Terence stock '. ~___ ' 34,700.000 .';: 34.700.000 ` 34,700,000 34,737,000 , 34,737.000-_ 34,737,000 - 0J834.737,000 nijNIJ stock 4--________-- -44X500.000 837,900,000 ._,, .418.700.000 ;. 415,749,000 ^ 269302,000 .-.v-266.608,000~ ,25L58S.OOO I^Pltal account u._____________ venue account _!_______ :__ - ' ijv- 73.600,000-7.---' 60800.000 " 42.800,000 " ' i'flS3300.000-5 157,800,000 " 4239L000:J"` 4-0-.5-4-3-.-0-0-Q v. . 3rc9,744,-0-0-0----(V"3'6,.141708,,0O0O0Q ortty i..n..t.e...r..e..s.t................... .........................=i?:..71,800,000 JSfv 49,600,( ,947,000 Jbenturea 8c secured loans ___ E_22X,rrj"" 54300.000 2s --r 32.600,6w IMU gt, , -.Q ^ ,WU fl ~ . g 32S 000 - ture U. K. Income tax___125.000.000 (^--123,900,000' 96.100.000 ,000 zr`7T' 62 332.000 "^^Tfe.CTC.OOO " overdrafts 2.,5 2.________ _____- Ai -f* 9E4T.M0AI0^3A0Al0- :ai'n^'4- 97,100,000 M8,5O.8V0U0,U.0W00 68,923300 58.097-,0--0--V--- - 7--0-,-0--0--6-.-0--0-0- ?--4fl 6--7--.-S-7--9--.0--0-0- *y creditors, etc. ___' * 1843--003--0--0--3*5-*vTT6.700.000 . Jr.-.-137800.000 4^"lU304300rf&l 215.693.000 avriP'203.797.000 Orff069,583.000 * ions for dlv*., taxes, etc.- 148,7003002grv-i'I43300.0Qg.lL-124,000.000 Total Tru'.'rv.V-'v-l-l. >-.6` -------------- tmDi30mix>wfW&mM2 5"7.'tie fcoutataurttTMpSw. 3906 a490%:x2stod no Zn ./Ofitarad': LONO-TERJIDEBT S3S?-ffyj%vljuscuraid UbTiUHt. Jw 1*72-74: -''Butbanzed ad 1 oirtstaraUng. Dec.-' 30.'J*6*. 30,000,000; due Mar.Tl,1974. Offered to Stock- v O'Qteidg.PCdO.noOjOOC. OttailiJi 96% with preference to stoetboldes and boodbotden UX Sept. XL. 1966. rirahan-ru t Aetari on London Stock TExrhsnge. Jgji.-T* : P74oe Benge: 1966. Iff7%-1%. iar.imr-ar/:. SSsSBtoacnk9g%5erx-^lSbedfe-oS*roe-JsSctaoOsch*k' dirldez^.-- dISirM. *-'______, .t High -T--rfr 45/3 T 49/3 c49/7-' 'BO/lfft.; -rLowJ_pUm-SS/l'h4L9f -C/9;* 86/10 " Beglstrar: W. If. Xaeoa.*' ,^V' ` ) boldars Mar. 1*. 1954. CallaMa aa a whole or A 6V4% Bsads fine lMH '*h*bl> *.v3iaC 3d. r Listed: AD ri seses -listed on London1' la-aar -part at par -on or at any time attar OtrartandtagU. & $30,000.000. Offered at Trph*n|* *wH quoted i& Mar. iL 1974. On lionldatl ` ---------------- titled to 101. Lietad on________-- "* - - -VW -j'v-f 9*'* a-- Price Range: 1904.94-76%: 0M5, 06-77%. Xw 99% in Xurope by J. A. Schroder Wagg A Dublin. Edinburgh, Glasgow. Liverpool, Co., Ltd.. London end group of banka, March Chester. Cardiff, Oldham. Newcastle ana 1 1*07.: - .vr V field. Ordinary also quoted in Belfast, Nr , 14. SabsMlavy Awl Otkar Leans: . " port, Paris and Amsterdam.- ' f'i. SVi% Unsecured Loan Stock,. 1977-70:-- Authorized. 40,000.000; outstanding, Xtoc. 91. 1966. 264.750-. redeemable a* - par Jan. 1. Oouuiwny has bank loans outstanding at S%% cfue 1*73-74 for 8,000,000 wal 2300300 additional hums Asmrlraa papasHary Bseelptn There* outstanding Amailcan depositary rscaiiila ordinary registered shares Issued by Mori 1970; registered and tranaferable In amounts and multiples ol 50. Interest JdcJ 1. Callable Loam of eubsAUarten are outstanding in UX sod abroad in currencies of respective Guaranty Trust Co.. New York, on a share! share basis. _ - as a whole or in part on 3 months' notice at countries for a total equivalent of 77,600,000 any time on or after Jan. 1. 1977 at par. at 4 to 9% payable vanouaiy to 198L , Outstanding, Jan. 1.1967. 179369. Ottered at 96% In Dec.. 1956. to preference Dividends (payments since 1*7* taHowft* and ordinary stockholders of record Mot. 23. CAPITAL 1930__ 90.25 1931___ *0-128 1932... I 1956. Bights expired'June 2, 1157. , Listed on London Stock Exchange. ' .Price Range: 1966. 66U-90; 1905, 91-04. X 4Vi% Swim Franc Bands, due 1977: Dated June, 1962; outotanding, Dec. 31, 1966, Sw Pea 60.000.000; due June 30. 1977 at par. Non-callable during first 4 Tears. Interest June 30. Listed In Zurich Bourse. * * Price Range: 1966, 95%-Sff%; 1966. 102U-90. ^4, -fYgnr~onitr~~rint TW?' July 15. 1964: Outstandlngsw Fes 60.000,000 due 19S2. Callable beginning July 31, 1968 at IImiperial Chemical Industries, Ltd. 1% cumulative pi ce; par 1: Authorized, 34.736.,773; issued and paid up, 34,736,773; par 1. Has preference as to assets and dividends. Dividend rate changed from 7% to 1% June 17. 1954. - _ ............... 1133__ 0.179 1936. 039 1939. 0334 1942___ 9332 ` 1946__ 0361 1950.. 0339 1953___ 0397 1956__ 0.141 1934___ 0379 1937____ 0302 1940____ 031 1943-44 0334 1947-41 0305 1931____ 0.161 0)1954. 0.1*0 1957____ 0.14 ins__ 1938___` 1941__ 194$_m 194X1^ 1952__ L"-4 1K5_H 11958. Issued In exchange far shares of acquired companies. tv -h.tvs were converted into 1959__ 0336 JE1963__0-216. stock tn 1935.-------- 1966... 0.161 1960___ 0316 11961-62.: _ E1964-_. 0365____1965. .-LttJ D1967____ 0368 Regular dividends paid F8cA L IBAlao 100% in stock; cash includes : 103 and declining prices thereafter. . . ... Price Range: 1966 1965 1964 1963 1962 prior to stock dividend. mi Listed on Zurich Bourse. Price Rsoge: 1906. 10b-89)i: 1966. 104%-93%: Nigh . Low______- 15/3 13/3 16/1 16/3 17/0 13/10 44/0 ; 14/7 16/10 13/6- 01Also 50% stock dlv. In stock; $032 paid ............. ............---------. . X C%% convertible unsecured Ican stock due 1972-77: Dated Feb., 1962; outstanding. Dec. 31. 1966, 16.900.000. Callable at par, beginning June 30, 1972 on 3 months' notice. Interest JAD. Issued in Feb-Mar., 1962 as an alternative offer for ord. shares of Courtaulds Ltd., on basis of 25 of loan stock for each 10 of Courtauld's ord. stock. Listed on London Stock Exchange. Price Range: 1966. 96',i-8S%; 1965, 112J,i-93V*. 6. 7Vi% Unsecured Lean Stock, 1964-91: Outstanding 50,000,000. Redeemable at par ~Z Imperial Chemical Industries Ltd. erdL nary: per 1: ------------------------------- Authorized end outstanding, Dec. 31, 1966, 441307.796 ordinary stock units of L Is entitled to surplus assets after repayment of all capital Is entitled to profits distrib utable by way of dividend, after payment of 5% plus arrears (If any) on the preference stock. Has one vote per 1 of stock. Is sued In exchange for shares of acquired com- ffisnies. The shares were converted into stock 1935. 91Includes $0,095 proceeds sale of rights? 1961. - ..... .------ - ------------- - BJTo April 13. SiAlso 50% in stock. (SAfter stock dividend. Unlisted Trading on American Stock 1 change. ODPrice Range; 1966 1965 096*0)1963 High___________ 614 6% 7% 7%. i Low___________ 4% 5jl 5?i .6,1 [DAmerican depositary receipts. EAfter stk. div.; before, 97,-7)4. CANADIAN INDUSTRIES LTD. (Controlled by Imperial Chemical Industries Ltd.) History: Incorporated as fTan.itl.T, Indus tries (1954) Ltd. under Companies Act of Canada Feb. 10. 1954 to comply with U. S. District Court order, under which X 1 du Pont de Nemours A Co., Inc. was required to terminate joint interest with Imperial Chem ical Industries Ltd. in Canadian Industries Ltd. Present name adopted Dec. 30, 1955. In 1962 a subsidiary acquired assets of InterpTovincia) Chemicals Ltd., Edmonton, a cus tom packaging company; company' acquired sulphuric acid plant at Cutler, Ont. from Noranda Mines Ltd. British America Paint Co. Ltd., C-I-L (Lambton) Ltd. Also interest in Pinturas ICl de Mexico; West African Explosives Chemicals Ltd.. Li beria, Setterington Fertilizer Service Ltd., PeCroha Grain and Feeds Ltd., CEL-CIL Fib res Ltd. Officers: P. C. Allen, Chmn.; Leonard Hynes. Pres.; E. L Hamilton, W. T. D. Ross, J. H. Shipley, G. S. Roberts. R. B. Wlnsor, VicePres.; B. I. McGreevy, Sec.; E. H. Kemp, Treas. Directors: P. C. Allen. Chmn.; James Sin Net Sales 1962- 171.629.402 1961-- 164.876.026 I960-. 170.737306 Consolidated Balance Sheet. (in Canadian dollars): Assets 1966 Cash______________ $14,762,000 SMaTket recur.__ 495.000 Receivables, net -- 39.063.000 Elnventoriea_____ 53.120.000 Prepayments _____ 1.733.000 In 1964 formed MilJhaven Fibres Ltd. to consolidate company: man-made fibres activities, subsequently sold 40% of common stock of Millhaven to Chemcell (1963) Ltd. In Feb. 1965 acquired outstanding shs. of Campbell Mfg. Co. Ltd. for 50.000 common shs. (valued at 520 a sh.) and 551.000 cash; also acquired on Apr. 1 the De Salaberry plant of Canadian Arsenals Ltd. at Valleyfield, Que. from the Federal Govt, for $1300,000 cash. In 1965 acquired British American Paint Co. Ltd.. Victoria, B. C. clair, G. B. Gordon, EL L. Hamilton, Leonard Hynes, H. deM. Molson. W. T. D. Ross. J. A. MacAulay, J. H. Shipley, R. B. Winsor, G. S. Roberts, T. D'Arcy Leonard. H. G. Reid, W. G. C. Cashford, G. F. Whitby. Auditors: Touche, Ross, Bailey A Smart Co. Annual Meeting: In 1st 4 months of year. No. of Stockholders: Dec. 31, 1965; Pre ferred, 765; common, 10,400. No. of Employees: Dec. 31, 1965. 10,400. Head Office: CtL House, 630 Dorchester Boulevard West. Montreal, Que., Canada. Consolidated Income Account, years ended Total current. $109,173,000 [TJNet property -- 151,615,000 Land _____________ 5.105.000 Mtge. receivable - Tax refund 636.500 Invest, in oth. cos. 4.880.000 Deferred charges -____1__.1_0_6_.000 Total _________ $272,515,000 Liabilities: Notes payable____ Accounts pay., etc. Dlv*. payable____ Income tax ret.__ $12,496,000 ,26.130.000 2 002.000 9.665.000 Business: Engaged In manufacture of agri cultural and industrial chemicals; explosives, ammunition, paints and coated fabrics; plas tics and textile fibres. In addition to products manufactured in Its dom. United States and other manufacturer*. Property: Operates plants at 45 locations throughout Canada. . Construction Expenditures in 1966 total, $44,700,000 (1965, $52,000,000) including ammo nia and fertilizer plant near Sarnia, Ont. and Sulphuric acid plant at' Copper Cliff, Ont Control: Imperial Chemical Industries of Canada Ltd. owns majority of voting com mon stock. Subsidiaries: Alchem Ltd., Canadian Hanson A Van Winkle Co. Ltd.. Canadian Safety Fuse Co. Ltd,, Chipman Chemicals Ltd., C-I-L Products Inc., U."S. A. Millha veh Investments Ltd., Defense Industries Ltd., C-I-L Inter national Ltd., Millbaven Fibres Ltd., Cutler Acid Ltd., Campbell Manufacturing Co,. Ltd., C-I-L (Dalhousie) Ltd., Continental Explo sive* (Alberta) LAd., Defense Industrie* Ltd., Dec. 31 (in Canadian dollars); 1966 195 Sales ------------------- $262,478,000 $236,414,000 Costs A expenoes 228.612.000 207,70S,000 Depreciation______ 01,670,000 10355.000 Net oper. income . 22.196.000 18354.000 Invest, income__ 871.000 1.978.000 Total Income_____ 23.067.000 20.332.000 Debent. Int., etc. . 3.656.000 3.596.000 Income taxes_____ 8.901.000 5378.000 Minority interest . d65,000. 1.024.000 Net income______ 10.575.000 9.834.000 Retain, earn., 1-1 _ 44)671,000 . 41314.000 Preferred divt.__ 174.000 174,000 Common ddv*.___ 6367.000 6303.000 Retain, earn., 12-31... 48.705.000 _ 44,671,000 HITimee dig. earn. Earn, pfd. share _ Earn, com. share - 6.32 $227.42 1.06 537 $211.48 0.99 Cash flow, com. sh. 235 2.05 No. of pfd. shares. 46.500 46,500 No. of com. shares 9,794,161 9,794,161 EBef. Inc. taxes. Sales and Earnings, yea to Dm. 11 (In 5): Net Net No. of Earn. Sales Income Shares on Com. 1964.. 212332.000 9.703,000 8.656.921 1.10 1963.. 184307,000 7.704.000 8.655.921 0.87 Total currerrt. Deb. 3Lt. 1974 ____ Deb. 5%, 1977 ____ Deb. StU.'M_____ Deb. 7>,is. 1986 ____ Future inc. tax__ Minority Interest 7%% pfd. stk. ($20) ECommon stock __ Retained earnings $50394.000 ,19.951.000 20 000,000 30.000.000 15.000.000 2.713.000 9.661.000 2325.000 " hi . 73,866.000 1^. 48.705.000 hi Total' _i--$272,515,000Tj Net current assets , $58,879,000 _ Net tang. com. ah_ $12.91 . - ffiDepredatioo - $119,909,000 $1 DDLower coat or mkt. 0)9,794.161 -no- BMkt. val.: 1966, 6495,000; 1965 , 619,696,' Note: Above accts. incl. certain basis of fiscal yrs. ended Sept. 30 p; Debentures: Canadian Industries lTM- - Ing fund debenture 3%s, due 1974: AUTHORIZED--And issued 625,000, standing, $20,951,000. -- DATED--Nov. 15. 1954, MATURITY--Nov. 15. 1974. . INTEREST--MAN 15 at any braneh-m, oU1f MiliVoUnUtrCeCaJl I4Un4i CVraiinuaadua*.. Pf irUinlbciiHpa--l - , payable in lawful money of Canaoa- MOODY'S INDUSTRIAL MANUAL 2647 rUSTEE--Royal Truat Co., Montreal. INTEREST--J8cD 1 at any branch in Canada Capital Stack: L Canadian Industries Ltd. ^NOMINATION--Coupon, J1.000: reglsier- of Bank of Montreal. Principal and interest 7%% cumulative preferred: par *50: Sjle aa to principal; lully registered. *1.000, payable In lawful money of Canada. AUTHORIZED -- 46,500 shares; outstanding. KoOO. *10.000 and authorized multlplei of II.In excess of *10.000. C&R Interchangeable. _ 3LE--As a whole or In part on at least days' notice at any time to Nov. 14, lnd.. ( follows: 7-- 101.00 ' 1968 ; 100.80 IMS 100.80 TRUSTEE--Royal Truat Co., Montreal DENOMINATION--Coupon, *1,000; regie:erable aa to principal; fully registered, *1.000, *5.000, *10,000 and authorized multiples of *1,000 In excess of *10,000. CAR Interchangeable. 46900 shares: par *50. PREFERENCES--Has preference for assets and dividends. DIVIDEND RIGHTS--Entitled to cumulative dividendr of *3.75 per share mc-iLl. DIVIDEND RECORD -- Initial dividend of J70 100.40 1971 10030 m2 100.20 CALLABLE--As a whole or in part at any 93% cents paid Oct 15. 1954 and quarterly 873__ 100.10 1971... 100.00 time on at least 30 days' notice at 110 to Nov. thereafter. ___ {.Company may also purchase debentures In 30. 1967, incL. and at 1% less each year there VOTING RIGHTS--Has no voting power.ex en market or b*- private contract at not after to 100 after Nov. 30. 1976; provided how cept on questions affecting rignts of pre .seeding above redemption price plus up to ever, no debentures may be redeemed before ferred. aale or merger of company or Increase . of 1% of par ol debentures so purchased. Dec. 1, 1972 through borrowings at an Interest or decrease of capital or failure to earn pre ; Also callable for ainiriny fund (which see) coat of less than 590% per annum. ferred dividend for last preceding year, whan t100. ____ Company may also purchase debentures in it la entitled to 10 votes per share. TCENG FUND--Annually, cash (or deben- open market or by private contract at not LIQUIDATION RIGHTS--In liquidation, en __sl sufficient to retire at 100 on each May exceeding above redemption price plus cost titled to repayment of capital in priority to ( debentures ar follows; *500.000, 1960 to 1963; of purchase, up to % of 1% of par of deben common shares. 50.000. 19G-. to 1968; *1.000.000, 1969 to 1971: tures so purchased. Debentures acquired to be CALLABLE--Not callable. .250,000. 1972 to 1974. cancelled. ISSUED--Issued together with DuPont of tCUKITY--Direct obligations of the comfwny but not secured by mortgage. F CREATION OF ADDITIONAL DEBT--Exeept [ jot purchase money mortgages or assumption Erf existing Hens on property hereafter ac- SECURITY--Direct obligations of company but not secured by mortgage. CREATION OF ADDITIONAL DEBT--Same aa debenture 3%s due 1974. Canaria Securities Ltd. preferred in exchange for Canadian Industries Ltd. preferred under plan of segregation, one share of each issue for one share of Canadian Industries pre ferred. t suited, company may not (1) mortgage any DIVIDEND RESTRICTIONS--Company may LISTED--On Montreal and Toronto Stock Ex insets unless debentures are eaually and not by payments on. or distributions to, com changes. jstably secured, except for any security mon. reduce the aggregate of (1) amount paid TRANSFER AGENT--REGISTRAR--National i (other than on fixed assets) given to secure up on common, (2) consolidated capital sur Trust Co.. Ltd-. K-. utreal, Toronto and Van . oirrent loans: or (2) create additional funded plus and (3) consolidated earned surplus (as couver. [debt of which the mandatory retirement proL-ruion in any 12-month period would retire , i greater percentage of such additional funded debt than percentage of debenture due 1974 required to be retired for the Vni-inr fund In same period: provided that defined), below *65.000.000 nor make any such payment or distribution when aggregate la below that amount. PURPOSE--Proceed! to pay bank loan and for plant expansion. OFFERED--(520,000.000) in Canada at 98% DIVIDEND DISBURSING AGENT--National Trust Co. Ltd.. Montreal. PRICE RANGE-- 1966 1965 1964 1963 1962 High____________ 81 82% 63% 86 80 Low___________ 74 80 78 80 76 the company may create funded debt en titled to sinking fund payments of propor tionately greater amount than those required 'tor debentures so long as future payments In .each concurrent 12-month period are in. ceased proportionately; provisions under this ; clause (3) do not apply to additional funded ' obligations up to amount equal to 25% of total : funded obligations to be outstanding. ' DIVIDEND RESTRICTIONS--Company mev , not by payments hn. or distributions to. com mon. reduce the aggregate of (1) amount paid rp on common. (2) consolidated capital surjdus and (3) consolidated earned surplus (as -defined), below *50.000.000 nor make any such '"payment or distribution when aggregate la below that amount- nmvided that If any pre^ierred or other stock is Issued other than for jcash to common, such Issuance Is deemed a ^payment or distribution to common, tPURPOSE--Proceeds, together with common fitock financing, for repayment of *18.000.000 Oban from parent company; to acquire and Complete Terylene" plant at Mlllhaven and (lor plant additions at Cornwall. Beloeil. fcfirow7isburg and Shawinigan. _____-(*25,000.000) In Canada at 100 (pro to company, 98%) on Oct. 26, 1954 by A. nes Sc Co.. Ltd- Toronto. _ - ICE RANGE--1966 {[High___________ 85 lb TLow______________81% ; IDCanadlan funds. 1965 1964 88% 88% 8S E7 1963 1962 88% 88 .86% 83 (proceeds to company, 95%) on Nov. 14. 1957 by A. E. Ames Sc Co. Ltd., Toronto, and as sociates. 3. Canadian Industries Ltd. debenture 5%s, due 1984: Outstg.. 1984 series, *30.000,000. Held pri vately. Proceeds for new and expanded plant facilities for ammonia, fertilizer, chlorine and caustic soda; for expansion of T.N.T. prod uction and to improve fertilizer distribution facilities. Dated Dec. 1. 1964: due Dec. 1. 1984: prin cipal and interest (JScD1) payable in lawful money of Canada. Royal Trust Co., Montreal trustee. Callable at any time at 105% to Nov. 30. 1969; reduced prices annually thereafter to 100 after Nov. 30. 1982; however, not callable before Dec. 1, 1974 from funds borrowed at interest cost of less than 5%%. Co. may also purchase debt., in open market or by private contract at not exceeding above re demption prices plus cost of purchase, up to % of 1% of par of debs, purchased. Debs, acquired not to be reissued. Not secured. For restrictions on creation of additional debt, see deb. 3%s, 1974. Co. may not by payments on, or distri butions to. common, reduce the aggregage of (1) amount paid up on common. (2) consoli dated capital surplus and (3) consolidated earned surplus (as defined), below *75.000.000 nor make any such payment or distribution 2. Canadian Industries Ltd. common; no pari AUTHORIZED--13.500,000 shares; outstanding, 9,794.161 shares; no par. Imperial Chemical Industries of Canada Ltd., owns (73.451) of stock. VOTING RIGHTS--Has one vote per share. DIVIDENDS--(Payments since 1953. follow): 1954-- *0.10 1955___ *0.45 1956-62 *0 50 1963__ 0.65 1964___ 0.60 1965___ 0.65 1966--. 0.65 B31967___0.37% ETo May 1. LISTED--On Montreal and Toronto Stock Ex change TRANSFER AGENT--REGISTRAR--National Trust Co., Ltd., Montreal. Toronto and Van couver. DIVIDEND DISBURSING AGENT--National Truat Co. Ltd.. Montreal. PRICE RANGE-- 1966 1965 1964 1963 1962 High______________ 20% 27% 24% 18% 16% Low___________ 16% 19% 17 % 13% 1)1% Offered 887.671 shs. in Canada at *23 a sh. on Apr. 12, 1965 by A E Ames 8c Co. Ltd.. Montreal, and associates. Shs. being offered are those going unsubscribed by Imperial Chemical Insustries Ltd., London. Subscription Rights were being offered to stockholders of record Apr. 9. 1965 to purchase additional com. at *20 a sh. on basis of one ah. for each 8 aha. held. Rights expire Apr. 30. U. S. holders will not be eligible to pur chase additional shs. as the issue was not reg _.^2. Canadian Industries Ltd. debenture 5%*, when aggregate is below that amount. istered with SEC; however, they may sell pfce 1977: Issued (*30.000,000) privately at 100 on Nov. their rights. ZL-1964_ __ Imperial Chemirial Industries. Ltd. Tendon. AUTHORIZED--Open; outstanding, 2977 Subtidiary Debt: Mfllbeven Flbrea Ltd. owns 73.4% of Canadian Industries com. shs. -*,*20,000.000. enztstg. *15.000,000 7first mtge. bonds dated Imperial acquired only a small proportion of 4TZD--Dec. 1. 1957. Dec. 1, 1966. due Dec. 1. 1986. J8cDl_ Callable the additional common shares to which It to Nov. 30, 1967 at 107.50 and declining prices was entitled, and the rest was offered for 4TURITY--Dec. 1. 1977. thereafter. Issued in Canada art 300. public sale in Canada. I.C.I.--- ORGANICS--INC. (Controlled by Imperial Chemical Industries Ltd.) n^RIstery: Incorporated in Rhode Island Nov. Counsel: Hinckley, Allen, Salisbury 8c Par Land______________ 115.616 114.020 1899. as successor to Mason-Chsptn 8c Co. sons, Providence. Construction_____ 937.683 : 15.919 driess established In 1815 as Arnold, Hoff1 8c Co., Inc. Present name assumed July 1, Auditors: Ernst Sc Ernst. Annual Meeting: Third Thursday in Feb. Other assets Deferred charges - - 43.848 ' 83.144 ' 114351 25,189 No. of Stockholders: Jan. 13,1966, 245. -- u .Total *19,561,645 *17,535 361 1948, acquired Harkness Sc Cowing Co., Innati. now operated aa a division. No. of Employee*: Dec. 31. 1965. 483. 'J Liabilities: Accounts payable. *617343 - ' *348331 [uslneas: Manufacturing chemists. Products iude dyestuffs, sulphonated oils and fata, 't repellents, defoamers. synthetic deters. plasticizers, organic esters, cationic rners. etc.; also wetting agents, a phar- ceutlcal chemical and chemicals for use in, . Main Office; 55 Canal St-. Providence 1, R. L Consolidated Income Account, years ended Seph JO:--------- ... 1965 , 1964 Net sales --._____-j . *17,427381 *15,586.452 Other income __ '* - - 250.026 ' . -- 208,245 Total income -..l--' - 17,687,907 - 15,794,697 Accruals, etc._____ Taxes _______.--^ Debt due _______ __ Uue affiliate ...._ ".v; Total current - 239,474 --'1,518.508 334.000 878.990 *3368.515 219,417 '' L610.619 ' 332,000 888.815 *3,199.082 T, plastics and rubber Industrie*. Main- Cost Of sale* ':____ ii. 5 *8,592,927 u-'-7355.111 Notes payable _____ 2476,000 ' ..`f-2,510,000 i tales offices in Providence. Charlotte, Sell, etc, exp. 1--SV 3,748380 3311.104 ^.Atlanta, GaL*/**' ' ' o.' aoS.801 b Depredation, -LPaJ -.V--.*39-255 864378 2JS3Q:Owns-plants--at Dightonj Mast., wintered 2.~_7.3. ' 2733*.a-*.-285.768 _ 260,000 sq. ft. floor apace on 75- Affiliate Com. stk. note____ T 3350,000 (*100).__~ ^7,_.23. 24350 - 7, ^i'. 3,650,000 2.324350 Capital surplus 2930a1m,6i3n3 923a0m1.4m33 . Earned arplua____ 5.021,047 .t; i-3.0*3,996j , 1 site:. Charlotte, N. C. with 44.000 aq. ft[4% acres- Bayonne, N. J. with 10,000 aq. fb; 1.608,000 Ferial Cincinnati .-plant .with approximately sSAiSKraSfc' " " " utThoma*- Rldhardson," Relance tbei ` JiTtrm Leent DutstandirigLbepI.3oJl9e50jz,awoOLf % %4hated)ArJq4 kem^anaaaRyy.tdt . _. .Msrchant. Sec.;- C, W. OaatriEii------------------ tTo^*j9j'^T*etoatraereaiT^n'TcTehh.oojMnmiissjrtiR,irRISceIlceiil.ii-srdIrjdcscobc' LTTT- jdrt-aj^wjp Market pecnrri *385,632 .OJTntfc5oXmr19m73o.nC-ionmepxeneys*4sB^olaPjrnneott->eaayrnt idnlgvtsd' qanftde^KVl?:- * I36ES>J-S356.63E Pec} 31, 1952 plus 0<lC006 fcd'nef ch"prb , eeeda or sale of stocJr and eubordinatedjielt,'; & Bruns. A. R, Stewart. M. Bp MirchaxrfS *&' 8zuL-* after* that date; also Agreea-tc hialntalj] - cony.; r fA- ^ .4 J a v m_______a a m ^ --. V t , fpA a ,TIZ - X Jt. . pfa afiff fuvwlVr, Me 9 if i hnA