Document e5dzkbxGk0G77mdyBzgJ3mz6e

FILE NAME: Georgia Pacific (GP) DATE: 0000 DOC#: GP072 DOCUMENT DESCRIPTION: Newspaper Article - Wall-Repair Goods Are Said to Contain Carcinogenic Fibers ^ r ( W >ii ^ From Operations i\osei Wall-Repair Goods 49% in Second Quarter Are Said to Contain Set 'Half Corp. 'JM lecond Mkl It ex* stum to ? AM divers)- ament er ii cenu U mUJIon. tie lira p*. Million from M m to , from 04 75 first B-O billion Vy Wall 8 r * f r r JoUBffALf S U ff M e f r l e r MIi'iNEATOUS" - Honaywell Inc. re Carcinogenic Fibers ported a 49^ Increase In operating earnings tor the secondjjiijrter, clUngV strong world Compounds for Patching Paste wide performanco-in environrnental-cnntrols markets with continued steady Improvement In both residential and commercial building Have Perilous Asbestos, Studies Sav: Ban. Asked control sales." Earnings before a tax credit Were 117.1 million, or 84 cents a share, uplfrom the M f W al l St s b s t oi. i w a l $ t * f f Me f r i e r year-earlier *11.3 million, or 59 cents WASHINGTON-Some of the compounds share. A *2.2 million tax credit b< osted net used for patching and repairing interior income for the latest quarter to 19.4 mil wails contain cancer-causing asbestos fibers lion, or 95 cents a share; a *1.! million and should be banned, two public-interest credit lifted the year-earlier net toB12.7 mil organizations contended. lion, or (5 cents a share. Revenue rose 4' to In a petition to the Consumer Product *705.3 million from 78.8 million./ Safety Commission, the Natural Resources For the first half, operating earnings Defense Council and Consumers Union esti were up 138<7r to S29.7 million.' or 51.47 mated that between a third and a half of the share, from *12.8 million, o r' 84 cents patching compounds sold in the U.S. would share, a year earlier. A tax jfcredlt of *3.2 be subject to such a ban. It cited products million brought 1978 first half net to *32.9 sold by Mobil Corp.'s Montgomery Ward million, or *1.83 a share, and a tax credit of Inc. subsidiary and by Georgia-Pacific Corp. *1.2,million brought year-earlieK^proflt to *13.8 million, or 70 cents a share tevenue increased S'* to *1.35 biilion from 1.27 billion. as among those that allegedly pose a health hazard. When asbestos fibers are inhaled, they greatly increase the danger of cancer of the The second quarter's rate of tprove ment isn't expected to continue i the sec- ond half because of the co; tparative strength of last year's second Edson W Spencer, president, said. lungs, the lining of the lungs and the abdo men. The petition cited medical studies showing very high concentrations of the fi bers in the air after asbestos-containing compounds were used for dry wail repairs. Second quarter profit included a foreign- Asbestos gets into the air both when pow exchange gain of two cents a share, against dered compounds are mixed with water to a year-earlier foreign-exchange loss of two create a patching paste and when patched cents a share. For the first half, the foreign- places are sanded after the paste dries, the exchange gain was 19 cents a share, against studies showed. a year-earlier loss of 38 cenw a share. Honeywell said revenue lii world-wide in dustrial markets was about\e q u a l to the London Stock Prices Rise: year-earlier quarter and half. for the quarter and half increased, reflecting a gradually Improving level of capital spend ing, it said. Performance in the aerospace and defense segment of Honeywell's busi ness "continues to meet expectations." the company said. Quotesin Tokyo Decline Stock prices climbed in London and sank in Tokyo yesterday. On the London Stock Exchange, the F i nancial Times industrial share index rose 4.2 points to 393.3, with much of the moder Computer-systems bookings "nearly matched" the second quarter record set last year, but bookings for the half "lagged the comparable period," Honeywell said. Computer revenue for the quarter trailed the year-earlier period, but in the half was even with the 1975 first half. Rental and ser vice revenue in the computer business gained slightly for the quarter and half. Pur chase revenue improved from the first quar ter of 1978, but was down from the 1975 sec ond quarter and half, the company said. Margins in the computer business im proved in the second quarter from the first, but were below the six-month level achieved last year, Honeywell said. ate buying laid to trader expectations that the British government would curb spend ing. Among major issues, gainera included EMI, Burmah Oil and British Petroleum. But Distillers fell despite higher earnings. Gold mining shares also sagged, evi dently on trader diaappointment.with the re sults of the International Monetary Fund's latest bullion sale. The South African fi nance mining index sank 1.0 point to 101.0. On the Tokyo Stock Exchange Thursday, the Nikkei Dow Jones average lost 50.71 points in light dealings, to 4895.88, and the exchange index slipped 2.51 points, to 347.38. Brokers continued to cite concern about Lockheed Aircraft Corp. payoffs in Japan. Halliburton's Capital Budget Light electrical Issues were mostly lower, but Sony managed to post a gain. Autos also DALLAS--Halliburton Co. said its board were generally weaker, though Honda rooe. approved an Increase In its 1978 capital-ex Hitachi fell despite higher earnings. penditure budget to *292 million. It said the 1978 budget originally was set af *278 million and was Increased *2 million in February. The latest supplement was OPTIONS HOT LINE made primarily for a drilltng-flulds service barge for Imco Services division and fur ad- dlUonal construction equipment for Its 1 Brown A Root Inc. subsidiary, Halliburton | said. I +STARR <41S>421-TM*1 K L J g H L ptin specialists SArt Francitco M24417 Plo Aflo 3344350 -------------------------------------- - & NEWSLETTER FROM-- GYPSUM SERVICES CORP. Sanding and mixing of drywall taping compounds can causa serious asbestos risk ASBESTOS: Dangers in sanding IN SPITE of the introduction of asbestos-free insulation materials and the existing bans on the use of asbestos-containing spray fire- Croofung, a serious asbestos hazard remains 1 the construction industry with members of the Painters Brotherhood of the Building and Construction Trades Department being at greatest risk. Wallboard finishing compounds and spackle have been found to contain significant amounts of chrysotile asbestos, which is released into the air as dust either during the dry mixing of these compounds or during sanding. Drywall taping compounds came into wide spread use shortly after World War. II. Until fairly recently,most of the material used was mixed at the construction site, raising large clouds of dust. In the past few years, many contractors have switched to premixed com pounds. thereby eliminating one m ajor source of asbestos dust. This practice, though, de pends entirely on the contractor and what he supplies; several tapers interviewed recently by Mount Sinai personnel said they still had ocassion to use the dry-mix brands. Sanding can ba Dangerous The problem that remains, even when readymixed compounds are used, is that of the dust produced when the dried compound is 1 Ci i C^O ~C ^7 cr 2 D rn ! a s. h-- * o rn fl 5 @ It 2 m i ,,.{ere M'" 'i 'e 5c^r.i- 5 . s r y f ac 3o u2i ca-c -*<? h M,TM o - a sW S S * 5 s s g 5-| *?ga. E S . g O.K sSOT3>r_ S" (< 2s o . "' & *>2? sy ?"? 5 '2 - 5 - ? 7 ;i