Document XOnmjmR8bO5bQeZJJr4oq1Q8R

\ . * MOODY'S MANUAL OF INVESTMENTS AMERICAN AND FOREIGN INDUSTRIAL SECURITIES JOHN SHERMAN PORTER, Editor-in-Chief Editorial Board Joseph A. Dittrich David M. Elunwood Nelson Schaenen Max Brupbacher Walter F. Hahn George I. Blair Frank J. St. Clair 1943 Public Z-trarg .1 'Co - i.~ ~ corniGBT, 1943, it Dallas3 Texas Moody's Investors Service, New Yore ALL RIGHTS BASERVXD MOODY'S INVESTORS SERVICE 65 BROADWAY, NEW YORK j PHILADELPHIA BOSTON CHICAGO LOS ANGELES PITTSBURGH SAN FRANCISCO Slock Exchange Bldg. 75 Federal St. 105 W. Adams St, Hollingsworth Bldg. Union Trust Bldg. Russ Bldg. I LONDON: MOODY'S INVESTORS SERVICE, LTD, MOODY'S MANUAL OF INVESTMENTS 985 Annual Meeting: Second Tuesday in May. MoTof Stockholder*: Dec. 31.1941, 270. Mo. of Employees: Dec. 31,1941,100. Mice: Cleveland. Ohio, income Account; years ended Mar. 31: ,n 1942 1941 Met sales------------Post of sales .-- $633,686 376,080 $485,201 303.865 Selling, etc., exp. .-roper- profit ---other deduct, net. 233.166 24,440 1,316 214,978 d 33.642 4,577 Loss subsid. co. .. 3,292 12.822 Met income -------- 19,832 d 51,041 gamed per share. $0.48 d $1.24 mo of shares------- m41.u11i7 __ 41,117 " mAfter deprec.: 1942, $52,642; 1941, $39,914. Balance Sheet, as of Mar. 31: Assets: Cash -------------- - -- Fed. stamps, etc.. Receivables, net-- 1942 $9,255 13.317 1,918 1941 $3,804 5.596 3.787 Inventories 60,962 34,966 Z Corning Class Works common; par $10: Authorized. 750,000 shares; outstanding. 642,768 shares; par $10. Closely held. Transfer Agent: Preferred, Union Trust Co.. Pittsburgh. _ Registrar: Preferred, Fidelity Trust Co., Pittsburgh. Transfer Agent and Registrar: Common transferred and registered at company's office. DEISEL-WEMMER-OILBERT CORP. History: Incorporated Jan. 22, 1929 under Ohio laws to acquire the assets of The DeiselWemmer Co., which had been operating as a partnership and later as a corporation in Ohio since 1890. In Mar., 1930, company purchased the manu facturing and sole rights for Odin cigars. As of Sept. 30, 1939, Bernard Schwartz Cigar Corp., for many years a subsidiary of com pany, was dissolved and after retirement of such of its preferred and common stock as mainder of inventory at cost, not above market. Accounts certified by Peat, Marwick, Mit chell & Co. Bank Loans: Outstanding, Dec. 31, 1942, $1,050,000. Maturing $150,000 annually each. Sept. 15, to 1949, incl.. at 2)4% on $300,000 and 3%% on $750,000. Partially secured by assign ment of life insurance policies, $750,000. Capital Stock: 1- Deisel-Wemmer-Gilbert Corp. common; par $10: AUTHORIZED--275,000 shares; outstanding, 190,781 shares; par $10 (changed from no par in 1930 share for share). VOTING RIGHTS -- Has exclusive voting power. DIVIDENDS PAID-- 1929__ $1.12)4 1930__ $120 1931__ $125 1932__ 0.25 1933____ NU1934___ 0.25 1935__ 0.87)4 1936____ 2.50 1937___ 2.00 1938-39 1.25 1940____ 2.00 1941-42 1.50 01943. 0.37)4 0To Mar. 25. Total current, plant & equip-- Depreciation ------ Net property -- Containers, net .. Goodwill, etc. -- Invest, in subs. .. Other assets----Deferred charges. Total -----------Liabilities: Notes payable -- Bank overdraft -- Accounts payable Accrued tax., etc. Conting. reserve . $85,452 808209 357.484 451.325 103.455 19,081 176.497 5,401 .8,933 $850,146 $17,465 44,899 26,435 2.000 $48,153 807250 was publicly held, its business and net assets were transferred to Delsel-Wemmer-Gilbert OFFERED--(40,000 shares) at $25 per share in Jan., 1929, by H. W. Noble & Co. and J. D. 339.196 468,053 113.916 Corp. Business: Manufacturers of cigars. Brands manufactured are the "San Felice," "El Ver Currie Sc Co., Detroit. TRANSFER AGENTS--Bankers Trust New York: Detroit Trust Co., Detroit. Co., 19.081 so," "Dubonnet," "Odlns," "Custom Made,' REGISTRARS--Bank of the Manhattan Co., 194.929 "Donalda," "Emersons," "R. G. Dun," "Brad- New York; National Bank of Detroit, Detroit. 6217 street," and "Golden Arms." LISTED--Common listed on New York and 7.933 Property: The company operates 8 modern Detroit Stock Exchanges. Slants, located in wapakoneta, Findlay, St. PRICE RANGE-- 1942 1941 1940 1939 1938 $858,283 [arys. Delphos. Van Wert and Lima, O. (2), High.................. 13)4 18)4 19% 18)4 17 $21,772 4,130 60,520 26227 and Detroit, Mich. Officers: S. T. Gilbert, Pres.: Norman Schwartz, 1st Vice-Pres.; G. L. Sneck, Compt.; S. H. Rootes, Treas. and Sec.; A. E. Wemmer, Asst Sec.; J. W. Gilbert, Asst. Treas. Directors: S. T. Gilbert, Norman Schwartz, Low--------------- 9% 9)4 11)4 11)4 9 HONOLULU OIL CORP. Histonr: Incorporated in Delaware, Mar. 31, 1930 as Honolulu Oil Corp., Ltd.; present title became effective May 26, 1937. Acquired 944,- J. W. Gilbert, S. H. Rootes. Detroit. Mich.; 900 shares of Honolulu Consolidated Oil Co. Total current. $90,799 $112,948 George Glover, Lima, O.; C. C. Hossellman, through an exchange of stock on share for Prov. for deps... 15,501 11,708 A. E. Wemmer. , _ share basis, and the net assets were trans Notes payable -- 9.088 General Counsel: Stevenson, Butzel. Eamon ferred to this company. Honolulu Consolidated SCapital stock .. 41,117 41,117 & Long. Oil Co. was incorporated under laws of Cali Paid-in surplus .. 936246 936.346 Annual Meeting: First Monday in April. fornia April 19, 1910 as successor to Lakeview Earned deficit__ __ 233.617 252.924 No. of Stockholders: Mar. 31. 1939. 1,803. Oil Co. of Midway, incorporated June 28.1909. Total _______ $850,146 Net curr. assets . d $5,347 041,117 no par shares. $858,283 d $64,795 Capital Stock: 1. Cleveland-Sandusky Brew ing Corp. common: no par: AUTHORIZED -- 50.000 shares; outstanding, 41.117 shares; no par. DIVIDENDS--No dividend payments had been reported on predecessor company's no par common shares Issued in 1932. No dividends paid on present stock. PURPOSE -- Issued (approximately 36,400 shares), under a reorganization consummated as of Mar. 31, 1937. to holders of former Cleveland Sc Sandusky Brewing Co. first 6s. due 1948, on basis of 40 shares for each $1,000 bond and unpaid Interest due Jan. 1, 1933, and thereafter: additional shares were issued to bank creditors and unsecured creditors of former company and former subsidiary. Shareholders of former company received the right to purchase, on or before July 1, 1941, at $26.74 per share, one share for each 4 shares held. TRANSFER AGENT AND REGISTRAR -- Cleveland Trust Co., Cleveland. O. No. of Employees: Mar. 31,1939,1,807. Office: 2180 E. Milwaukee Ave., Detroit. Mich. Income Account, years ended Dec. 31: 1942 1941 Net sales Cost of sales Oper. expenses .. HNet oper. profit Other income___ Total income___ Interest, etc. Fed. income tax.. $8,721,806 7.186,243 739,393 796,170 8,602 804,772 49.214 311,000 $6,914,825 5.583,551 780.075 551,199 7,687 558,886 45245 161,000 Post-war reserve Net income-------- 50,000 E394258 *352,641 Common dlvs.__ Surplus for year-- Earn, surp., 1-1 -- Credits, net 286.176 108282 2.173.338 0139,879 286,180 66,461 2.044,878 0162.000 tP-r..--y- r".utranx" a12d-3j1.E-arn., scuormp". 1share No. of com. shares 10,144 2211.456 $2.07 190,781 27173.338 $1.85 190.781 [TIAfter depreciation and amortization: 1942, $56,365: 1941. $60,538. (IjNet refund of Federal processing taxes. BlPrior years depreciation adjustment During 1930, company with Standard Oil Co. of Cal. as a 50% partner, purchased entire capital stock of Kettleman Oil Corp. Through this acquisition, company acquired a 50% in terest (25% each for Honolulu and Standard) in production from 1,760 acres of land on the North Dome of Kettleman Hills; 1,440 acres of this land is considered productive territory, of which 1,050 acres is proven. To extent of the 1,440 acres, company entered the Kettle man North Dome Assn., under regulations of which property will be developed on a unit plan, company receiving approximately 8% (4% each for Honolulu and Standard) of total production from lands operated by the Asso ciation. Company has an additional Interest In Kettleman North Dome Assn, through hav ing acquired (May, 1935) a one-half interest (Standard Oil of Cal. acquired other half) in Kettleman & Inglewood Corp. which receives approximately 4)i% (2)4% each for Honolulu and Standard companies) of total production from lands operated by the Association. Ket tleman Sc Inglewood Corp. also had substan tial holdings in the Inglewood field. As of Oct. 1, 1940 the assets of Kettleman Oil Corp. and Kettleman & Inglewood Corp. CORNING GLASS WORKS History: Incorporated Dec. 24. 1936. in New York, as a consolidation of a company of the ESDue to change in method of valuing in ventory of tobacco, net income was reduced by approximately $60,000. Note: No provision for excess profits tax were distributed to their two stockholders. Honolulu Oil Corp. and Standard Oil Co. of Texas, both of which owned a 50% interest in the two companies. fame name, incorporated in 1911. and Mac-- * deemed necessarv beth-Evans Glass Co. Originally established in 1868. Properties: Company has eight plants, one each located at Wellsboro. Pa.. Central Falls, R. I.. Charleroi. Pa., and five at Coming. N. Y,, having a combined floor area of over 50 acres. Business: Manufactures glasses of special chemical composition with unusual proper ties. for special purposes, with brands as fol aeSeamleesQannedc Eaarnryin'gs: Gross Net Year Sales Income 1940.......... $7,254,795 $564,838 1939________ 7,009.421 496,142 1938................ 5,347,175 491,132 1937________ 6.041,194 546,655 1936_____ Not stated 625,443 _ Earn. on Com. $2.96 2.24 2.21 2.46 2.81 lows: "Pyrex." "Coming," "Steuben." "Ther Balance Sheet, as of Dec. 31: mo." "Monax," "Galax," and "Vycor." Assets: 1942 1941 Company's subsidiary, Pittsburgh Coming Cash ____________ $629,586 $388,364 Corp., has developed a new type of opaaue Accts. rec., net -- 705,354 724.086 glass with buoyant and insulating properties. 0Inventory cost. 4.189242 4,659,027 Subsidiaries: Controls Steuben Glass. Inc., and Coming Realty Com. In Mar.. 1937 com Total current. $5,524,182 $5,771,478 pany and Pittsburgh Plate Glass Co. (see gen Plant Sc equip.__ 1,444,001 1211.337 eral index) formed a new Jointly owned com Depreciation ___ 804257 728.608 pany, Pittsburgh-Coming Corp. Net property__ 639.743 582.729 On Oct. 31. 1938, company and Owens-Rll- Leased mchy.___ 92.154 79.399 nois Glass Co. (see general index) formed a Goodwill, etc.__ 1.863.150 1.863.150 new Jointly owned company, Owens-Cornlng- Investments ____ 58.725 59,692 Fiberglas Corporation. Adv. to employees 33.520 40.362 Officers: Amory Houghton, Chairman; G. W. Insur., cash value 72.832 64,291 Cole, Pres.; G. D. Macbeth. Exec. Vice-Pres.; Deferred charges. 70.027 49.622 A. A. Houghton. Jr., W. C. Decker, J. L. Peden, P. W. Jenkins, Vice-Pres.: W. H. Curtiss, Vice- Total _______ $8254.334 $8,510,723 Pres. and Sec.: C. D. La Follette. Treas.; C. H. Liabilities: R- Young, Asst. Sec. and Asst Treas.: W. W. Notes payable__ $900,000 $900,000 Sinclaire, Asst Sec. Accts. pay., etc. .. 370.524 643.588 Directors: G. B. Hollister, E. C. Sullivan, Fed., etc. taxes .. 324,000 245.443 Amory Houghton, A. A. Houghton. Jr.. G. W. Cole, J. L. Peden. W. H. Curtiss. G. D. Mac Total current. $1294,524 $1,789,030 beth. Coming. N. Y.. A. D. Falck. Elmira. N. Y. Adver. approp___ 59.000 59.000 Annual Meeting: 2nd Tuesdav in Feb. Bank notes 900.000 1,050,000 No. of Employees.- Dec. 31, 1942, about, 8,750. Post-war reserve. 50.000 General Office: Coming. N. Y. Com. stock ($10).. 1.907.810 1,907,810 Hew York Office: 718 Fifth Avenue. Capital surplus -- 1,531.544 1.531.544 Chicago Office: Merchandise Mart Earned surplus -- 2211.456 2.173238 Caoital Stock: 1. Corning Glass Works 6% preferred; par $100: Total _______ $8254,334 $8,510,723 Authorized. 50.000 shares; outstanding. Dee. Net curr. assets .. $3,929,658 $3,982,448 31 1<M2 93 774 cborpc* rtar 3100. Closelv held. mLeaf tobacco at cost on last-in. first-out Honolulu Pacific Co., former subsidiary, was dissolved on Dec. 29, 1941. Business: Company is essentially an explor ing and oil and gas producing company. Oil production from the Buena Vista Hills, and natural gasoline output, is sold on con tract to Standard Oil Co. of Cal. Gas produc tion is sold to Southern California Gas Co. Properties: Plant and equipment includes storage tanks, oil, gas and water lines, gaso line extraction plants, and various shops. At Dec. 31, 1942, in its own operations, cor poration had 581 wells (501 producing; 46 shut in; 34 idle); in addition owned partici pating interest in 370 wells (305 producing, 59 shut in; 6 idle); located in the East Coalir.ga, Kettleman, North Dome and Inglewood fields in California and in the Slaughter and Wasson Fields in West Texas: total 951 wells. Subsidiaries and Affiliates: Industrial Research Laboratories, Ltd.: In corporated in Nevada In 1931. Plant and lab oratories located in Los Angeles, Calif. Manu factures "XALOY" metal. Entire capital stock owned by Honolulu Oil Corp. Fourbear Development Co.: Incorporated In Wyoming In 1937, is 100% owned: Kettleman Oil Corp., Ltd. and Kettleman & Inglewood Corp., both inoperative. Assets dis tributed to stockholders Oct. 1, 1940. Each was 50% owned. Officers: (Honolulu Oil Corp.) A. C. Mattel, Pres.: P. F. Brown. A. P. Welch, L. A. Cranson, Vice-Pres.; W. P. Roth, Vice-Pres. and Treas.; R. H. Wright, Sec.; J: G. Walling Asst. Sec. Sc Asst. Treas., San Francisco, Calif. _ Directors: H. W. Clark, L. A. Cranson, A. C. Mattei. J. D. McKee, G G. Montgomery, W. P. Roth, J. W. Speyer, A. P. Weld:, San Fran cisco: P. F. Brown, Midland, Tex. Annual Meeting: Third Tuesday in May. No. of Stockholders: Dec. 31, 1942, 2282. No. of Employees: Dec. 31, 1940. 271. Office-- 215 Market St., San Francisco, Calif. - 1970 MOODY'S MANUAL OF INVESTMENTS SINKING FUND--Aug. 2, 1940 and annually Dividend Record (in $) shares which may be sold to emolowZT^ thereafter, cash and/or preferred (credited at (Old 3100 par shares) common, preferred or other stock entSui * par plus August dividends plus premium of 1915__ Nil 1916___ 5.00 1917__ 10.00 voting rights in ordinary circumstance4 * 5%) in amount equal to the sum of (1) 3% of (21918__ 7.50 1919___ 7.50 ` any securities convertible into or maximum par value of preferred theretofore (No par shares) a right to purchase such stock. '"On, issued prior to Jan. 1 of the then current year, (21920-25 2.00 1926___ 3.00 1927__ 3.00 LISTED--New York Stock Exchange (2) amount equal to dividends thereon from 0)1928 3 00 TRANSFER AGENT--Irving Trust Co, ^ Aug. 1 to Aug. 31, (3) a premium of 5% of < On'no par shares after 4 for 1 stock split) such par value. Cash shall be applied to sink 1928__ 025 1929___ 1.40 1930-31 2.00 REGISTRAR--City Bank Farmers Tm - ing fund tenders at not exceeding 105; any 1932__ 1.50 1933... 1.20 1934... 1.80 New York. TMst 0. balance unexpended on Sept. 1 shall be ex 1935__ 2.87)4 1936-37 5.00 1938____ 3.00 PRICE RANGE-- 1942 1941 pended as directors determine. Sinking fund 1939__ 4.00 Common------- 32-20)4 33)4-27)4 riir*)*,. preferred shall be retired. (Present 31 par shares) Subscription Rights: Holders of enmiS* TRANSFER AGENT--Irving Trust Co.. New 1940__ 2.25 1941___ 2.25 1942____ 2.00 stock of record April 6, 1936 had the riSk? York 01943__ 1.00 subscribe, at $104 per share, for 4)4% DreKL* REGISTRAR--City Bank Farmers Trust Co,, [APlus $2.50 in preferred stock. stock on the basis of 6 shares for eart'X New York. [2Plus 310 in preferred stock. shares held. Rights expired April 27 SJ" ISSUED--In accordance with recapitalization QJPlus 50.70)4 per share in 6% first preferred Recapitalization: On December it ,,- (see below). 5PRICE RANGE-- 1942 1941 and $1.41 per share in 6% second preferred stockholders voted to exchange each 1940 (both issues since retired). All payments made old $5 par 6% preferred for 11/200 of a sha Preferred .......... 110-105 117-10714 122-104 prior to capital change. the above 35 convertible preferred and 2. Melville Shoe Corp. common; par $1: 0To May 2. change eacn share of the old no par com,;; AUTHORIZED--1.300,000 shares; issued 927.072 Dividends payable quarterly February 1, etc. for 1/10 share of the above 5% convertibleS! shares; outstanding, 927,162 shares; reserved to stock of- record about January 19, etc. ferred, plus 2 shares of new $1 par comnvT for conversion of preferred, 276,813 shares; par VOTING RIGHTS--One vote per share. At the same meeting the exchanges vti&lZ 31 (changed from no par in accordance with PREEMPTIVE RIGHTS -- Has preemptive spect to the' stocks of the J. F. McElwain S' recapitalization--see below). rights in any issue for cash (except 20,000 set forth under "History" above were voted OWENS-ILLINOIS GLASS COMPANY CAPITAL STRUCTURE , STimes FUNDED DEBT Amount Charges Earned Interest Call Price Range Issue Rating Outstanding 1942 1941 Dates Price 1942 19B-4I 1. Sinking fund deb. 2)4s. 1952________ ____ $2,500,000 127.79 58.89 F&A 1 Not stated (3-- a___ CAPITAL STOCK Par Amount Earned per Sh. Divs. per Sh. Call Price Range Issue Value Outstanding 1942 1941 1942 1941 Price 1942 293242 1. Common ___________________ _______ $12.50 2.661204 shs. $3.46 $3.40 $2.00 , $2.50 57)4-43)4 B1103VWV ^ (ES1220 par common--after 2 for 1 split-up in 1937. EBBefore income taxes and after depreciation, depletion and amortization. SJPrivitaJj HISTORY PRINCIPAL PLANT8 A PROPERTIES Number of Employees: Dec. 31, 1942. Incorporated in Ohio, Dec. 13, 1907 as The Owens Bottle Machine Corp, successor to a New Jersey corporation of the same name, in corporated Sept 3, 1903. Charter is perpetual. Name changed to The Owens Bottle Co. May 1.1919 and to Owens-Illinois Glass Co. Apr. 17, 1929. During 1912 acquired assets of The Owens West Virginia Bottle Co. and Northwestern Ohio Bottle Co., and on Jan. 1, 1915. assets of The Owens Eastern Bottle Co, wholly-owned subsidiaries. In 1916 acquired control of Amer ican Bottle Co. and Graham Glass Co. In 1917 acquired Kanawha Manufacturers Gas Co. During 1918 acquired assets of subsidiary Whitney Glass Works. In 1919 acquired con trol of Charles Boldt Glass Co, manufacturing bottles, cartons, etc. During 1923 acquired control of Closure Service Co. On Jan. i, 1926 took over assets and control of Charles Boldt Glass Co. In May, 1929 merged assets of Illi nois Glass Co. (Hi. 1873) ana Chicago Heights Bottle Co, including stock of Carlyle Paper Co, Tavern Rock Sand Co. and Madison Ware house Co. In Apr, 1929 absorbed assets of subsidiaries, American Bottle Co. and Graham Glass Co. On Jan. 1. 1930 acquired assets except cer Glass factories are located as follows: Alton, HI. Waco, Texas Bridgeton, N. J. Charleston, W. Va. Clarion, Pa. Terre Haute, Ind. Columbus, O. Gas City, Ind. Fairmont, W. Va. Huntington. W. Va. Glassboro. N. J. Muncie. Ind. Los Angeles, CaL Toledo, O. Oakland, Cal. Streator, HI. San Francisco. Cal. All of the above active plants except Muncie are used for manufacture of glass containers, and contain automatic machinery and other equipment for this purpose. The Muncie plant is used for products of the Insulux Division. Plant of the Llbbey Glass Co. is located at Toledo, O, where, company also manufactures caps and closures for glass containers. Metal bottle cap manufacture Is conducted at the Glassboro plant. Owens-Illinois Can Co. has plants at Balti more, Md,,Clearlng, HI. and McKees Rocks, Fa. Madison Warehouse Co. operates warehouse in Boston, Mass. Branch warehouses are lo cated In Cincinnati and St. Paul. Lauterback Corp. operates plant at Toledo, O. Jointly with Libbey-Owens-Ford Glass Co. proximately 19,500. General Office: Ohio Bldg., Toledo. O. Management Profit-Sharing: Executive! u4 department heads receive additional compw* sation under plan adopted Jan. 20.1930. u Or termined by the company's president out of i fund representing up to 8% of earning! in t* cess of 10% of capital and surplus at the 0* ginning of the year. Total of the parttcipsto* salaries shall not exceed 10% of the esrvo earnings for each year. Total bonus to *t participant in any year shall not exceed ka salary for that year. Payments made under the plan follow: 1933-'______ 3220,220 1938.'.......... ** 1934_______ 223.000 1939_______ 31*;* 1935.......... -- 1936_______ 348,910 526.958 1940----------1941_______ *" e*j* 1937_______ 342,192 1942............. SUBSIDIARIES Company Is primarily an operating POnDec. 31, 1942, held 100% voting power * the following subsidiaries: . ___ Name, place of Incorporation and buu*" Owens-Illinois Pacific Coast Co. (DeU**rr cific Coast manufacturing and sales Owens-Illinois Can, Co. (Del.)--Metal tain natural gas properties of Berney-Bond Glass Co. In Nov, 1930 acquired principal as sets of Atlantic Bottle Co. As of Nov. 30. 1931 purchased assets of Ull- > (.s-- e- e g_. eneral index), com-pan_y own.--s wga-1s2f p|/rIoUp)/erties in West Virginia and Kentucky, supplytag fuel to the Charleston plants of both comppaanniieess.. On Dec. 31, 1942 total territory so itGaliiniCelrws:, vewtci. ML Llbbey Glass Co. (Ohio)--Glass tumhieri. Madison Warehouse Co. jMass.)---w&rcn">-- Owens-Illinois Distributors, Inc. nois Pacific Coast Co.; properties were trans ferred June 1, 1932, Owens-Illinois Pacific Coast Co. being organized to operate them. In Oct., 1932 purchased, as of July 31, 1932, Root Glass Co. of Terre Haute, Ind. In 1932 absorbed business of subsidiary Carlyle Paper Co. owned or held under lease comprised 147,984 acres, on which there were 525 producing wells (book value was 3979,275). Company has other natural gas fields in Clarion. Pa. and Fair mont. W. Va.. supplying fuel as a service to bottle manufacturing plants at those points. Clarion field comprises 14,384 acres and 136 Warehousing and sales i Lauterbach Corp. (Del.)--Plastic mouu cChoimneprayny owns 50% o.f cap.i.ta,l stocz -j th^> Owens Stapletied Brush Co. and j? common and 11,331 preferred shares of Coming Fiberglas Corp. <see ` Owens-Cornfng Fiberglas ^Cor^.. timassetsand business ofOTJelUMachtae Co." 5,655 acr and^'producing wells boSk^aluS rated under DeWi laws Oct ^i1^ devrfoping automatic bottle blovring ma- of the two on Dec. 31, 1942 was 3319.078. aA' ass?&{ Works wWch * chinery, using the vacuum process. As of Mar. 31, 1933 acquired Hemingray Glass Co. special izing in glass Insulators. In Apr., 1933 exer cised option on 16,000 shares of Container Corp. of America (see general Index) 7% cumulative preferred, subsequently receiving through recapitalization 50,000' common shares for part of this holding. In May, 1933 pur chased entire assets of nllnois Glass Co. Dur ing 1933 organized in Ohio Owens-Illinois Dis tributors, Inc., engaged In warehousing and sale of certain products. MANAGEMENT Officers W. E. Levis, Chairman J. P. Levis, President C. B. Belknap, Vice-Chairman of Board R. H. Barnard, Executive Vice-President F. J. Solon, Vice-President F. T. Nesbitt, Vice-President C. R. Megowen, Vice-President & Compt. C. G. Bensinger, Vice-President G. Lufkin, Vice-Pres. & Gen. Mgr., Glass riety of applfcations, Including dust-stop air filters, and decoratn e a a. trial service `fabrics. Plants at N Ashton, R. I. and Coming. N- Y-^ additional plant facilities Capital stock all owned hy - Glass Co. and Coming Glars Work*. BUSINESS AND PRODUCTS On Dec. 31, 1935 purchased entire assets of Llbbey Glass Mfg. Co., Toledo (founded In 1888), transferring properties to new subsid Container Division S. L. Rairdon. Vice-Pres. & Gen. Sale; Mgr., Glass Container Div. Directly and through subsidiary). . tures, warehouuusaecos acun*"d s*e---lls a-- gen bottles and other, containers f iary, Llbbey Glass Co. (Ohio 1935). In Feb., 1936 acquired Enterprise Can Co., McKees Rocks. Pa., through exchange of stock, and assets of Tin Decorating Co. of Baltimore J. Hi McNemey. Secretary & Treasurer E. F. Martin, Asst. Sec. & Asst Treasurer F. G. Morfoot, Asst Sec. & Asst. Treasurer ritsoatitslieo; tna,snp;dhfoaforrmrpfaroocodeduusct,itcscalnodaf.inJnndieanP"'<ri0ss.Paaarn.di bo<tfl** A. J. Riedmayer, Asst. Sec. & Asst. Treas. (i_nclu_ding "S_ tubby and3 aSwte--inie1 ^^.p (subsidiary of American Tobacco Co.) for ' C. B. Rairdon, Assistant Treasurer. also for other purposes. Company cash, forming, to operate these properties, Directors Owens-Illinois Can Co., which bought for cash R. H. Barnard, Toledo idnus19tr3y7 swheiprem3e8n.0ts3.%A; losfoUm. Sa_nBgullaf"ac*^tu*jr*;e*A,^* assets of St. Louis Can Co. C. B. Belknap, Toledo glass Insulators used In fecJ,Tmr, In Aug., 1936 sold entire stock of Tavern Harold Boeschenstein. Toledo phone wiring, and 1 Se Rock Sand Co. for 15.309 common shares of W. H. Boshart. Miami Beach, Fla. industrial ana residential consir _ Pennsylvania Glass Sand Corn., etc. Subse H. E. Collin, Toledo sidiary manufactures, warehouse, quently company bought sand requirements G. P. Greenhalgh, Berryville, Va. thin blown (paste from outside interests. W. W. Knight, Toledo Safedge and Llbbey 1------- . Iot In 1936 the name of Closure Service Co. was J. P. Levis. Toledo glasses and as jars for packtag changed to Owens-Illinois Closure Co. W. E. Levis. Toledo stemware; glassware for now fagg; m In Apr., 1937 acquired Lauterbaeh Carp. F. H. McAdoo. New York cafes, clubs, bars and sodfl^ .^tqurTj On Nov. 1, 1938 company transferred sub C. J. Root, Terre Haute, Ind. and engraved glassware. mu stantially all of its assets for development and F. W. Schwenck, Cincinnati facture, warehouse and seua ^ production of glass fiber products to Owens- C. J. Wilcox, Toledo related metal products. Anotn{gr f Coming Fiberglas Corp. for 49.77% of latter's General Counsel: Williams, Evertman & manufactures caps and closure _ common and 17,586 preferred shares. Morgan. tainers. Company engages During 1939 sold Chicago Heights, HL fac Annual Meeting: Third Wednesday in April strawboard Into corrugated_c ^ tory to Kimble Glass Co. for cash. at Toledo, O. ping glass articles, and also During 1941 sold Brackenrldge, Fa. factory. Number of Stockholders; Dec. 31,1942,11.308. ages. Company also manuiac**-