Document gD87RRL5k7Yg6eZb535N9QLLa
*%i i.M
TO Ol'R SHAREHOLDERS:
The Company's program of expansion and di versification, initiated several years ago, proved advantageous to shareholders during 1057.
Net sales for the fiscal year ended Novem ber 40, 15)57 were at an all-time high.
Net profit, while adversely affected by depressed conditions in the non-ferrous metal industry, was almost double dividend requirements.
Dividends paid were the largest..-in the Com pany's history.'
At. the end of the 11)57 fiscal year, our financial position was exceptionally.strong. Working capital and not worth were at, new peaks.
In lf)f>7, .the Company acquired (lie assets of The Cora-Dee Corporation; commercial produc tion of silicon was started; and construction of a new diatomaceous earth/plant was begun.
.Sale's .
Net. sales for the fiscal year ended Novem ber 40, 15)57 amounted to $1 17,752,65)4 compared with $11 (5.407,000 for the previous year. Sales of the Mining and Smelting Division declined more than 2()ry, reflecting lower prices for zinc and lead during seven months of the fiscal year, and lesser tonnages of metals sold, due in part to a four months' strike at; the Henryetta smelter.
Earnings
Net profit tor tile iiscaiy.ii <-nded Novcm her )(), 15)57 amounted to $4,2(10,70(5, or $4.25 per share, compared with net profit from operations of $5,45)6,75)4, or $5.47 per share, for the 15)5(5 fiscal
year, based on the number of shares outstanding at the end of each period. I deluding non-recurring net. profit, from special items of $405M54(5, or 41 cents per share, net profit for the 15)5(5 fiscal . year was $5,5)0(5,440, or $5.88 per share.
The'Company has six operating divisions, earn ings of which fluctuate considerably from year to year. The industries served by these divisions-are numerous and represent a broad cross-section of the 'American'economy; As a result, the Company in recent, years has experienced within its own operations many of the "rolling readjustments" which have characterized the economy as a whole.
Operations of the Chicago Vitreous Corporation, acquired by Eagle-Picher on November 40, 15)5(5,
are included in the Company's statement for
the first time in 15)57. Two divisions
the
Mining and Smelting Division and the Insulation
Division"-.-, showed lower profits in 15)57 than in 15)5(5. The former was adversely affected by sharp declines in zinc and lead prices starting in May, and for the balance of.the year its operations
TEN-YEAR SUMMARY OR OPERATIONS
Ye a r s En d f .i) No v e mb e r 40
15)57
4 Ye a r Av e r a g e 4 Ye a r Av e r a g e 4 Ye a r Av e r a g e
15)54- 15)5(5
15)51 15)54
15)48 15)50
No t Sa i.io s
$1 17,752,(55)4
No t Pr o f it Ta x k s
bef o r e
In c o me
7,541,70(5
Nio t Pr o f it .
4,2(5(5,70(5
No t Pr o f it p e r Sh a r e (on Present Capitalization).............
4 .25
De p r e c ia t io n , De p l e t io n a n d Amo r t iz a t io n .............................
4,21(5,858
Ca s h Ge n e r a t e d (Net Profit Plus Depreciation, Depletion and Amortization ). . ...... .
7,484,5(54
$104,70(5,5)87 8,877,562 4,452,440 4.44 2,685,461
7,147,801
$84,004,2(54 6,594,472 4,660,805 4.65 1,555),242
5,220,047
$70,(550,817 4,215,50(5 2,179,915 2.17 1,45)51,412
4,575),427
were :i drain on the Company. Substantial inven tory write-downs were.-largely olfset by credits derived from base-stock reserves. Lower profits in (lie Insulation Division resulted from unsatis factory conditions in the aluminum storm en closure industry, a decline in new housing starts dicing a contributing factor.
Rnluiicc Sheet
Shandoidei'.-'' iiei worth at. Nm'eniiier til). 1057 was $40,858,4(52, or $`10.74 per share., 'an "increase of $1,07)0,1 IS over net. worth at the end of t lie previous year.
Patents, at cost, less amortization, valued at. $1,000,544 at the end of 107)7, arose from purchase.' of d'lie Cora-LeeCorporation, discussed below.
Working capital at. November 40, 107>7 amounted to $27,78(5,595, a new all-time high, (dish and I mited States Government. securities aggregated $11,472,701, a decrease of $2,474,207), inventories of $17,024,084 at. November DO, 107)7 wen' $770,441 higher than (he corresponding figure a year ago.
Net fixed assets of $24,7)40,877) at Novem ber 40, 107)7 were $840,474 below the comparable figure of $24,480,440 a year earlier. While depre ciation, depletion and amortization charges, for 107)7, totaling $4,210,87)8. were not fully re invested, it should be pointed out that these charges included a substantial amount, of acceler ated .depreciation,' and the increase in patents, from the (Company's standpoint, was equivalent to an increase in fixed asM'ts.
Dividends
Dividends declared during 3 9.77 omounu-dio $2.20 per share, a new high, compared with $2.00 per share declared in 197(5, $1.80 per share in 1955. ;md $1.7)0 per share in 19.5-1.
'file Company has now paid dividends in each of the last 21 years, and the dividend payable in March 1958 will mark the 72nd consecutive quarlerly paymi-nt.
New Vein ilies
For a number.of years,, the,'Insulation Division has .been, mining and processing dialomaceous. earth from its deposit near ('lark. Nevada, which it sells to the ammonium nitrate fertilizer industry as a conditioning agent in high-analysis fertilizers; to manufacturers of calcium silicate insulation prod-nets.; as a filler in the' manufacture-of'paper; and as andil absorbent in factories. After 'exten sive exploration, the'-Company has'-discovered and leased for a long-term a large deposit of filter-aid material which is used by the pharmaceutical, brewing, sugar relining, and other food industries. An independent-'geological survey showed the new deposit to be sizable and of high quality. A works plant was built in late'1956 and the product was successfully tested in the field during 107)7. The Company is now building a processing plant near Lovelock', Nevada, scheduled for completion in August 107)8. Investment in new.plant and equip ment, will be about, '$2,7)00,000, which constitutes a major addition to the facilities of the' Insulation Division.
SUMMARY OF NFT WORTH
NOVBMBKK 40, 1057
No v u mb u r 40, 105(5
Amo u n t
1 'HR SHARIT Amo u n t
I'b r Sh a r i-;
KHARBIIOI.DBKS' Nu t Wo r t h . .
$40,87)8,4(12 $40.74
$48,800,244' $48 71
Th is ()WNKitsiiii> Was Rb p u k s bn t s i) nv:
Working capital `current assets less current liabilities! .
Net fixed assels. . Other assets. .
Total...........
$27,78(5,7)07) 24,7)40,877) 5,7)87,(540
$5(5,024,1 10
$27.71 24.48 5 57
$5(5.7(5
$27,208,811 24.4S0.440 4,17(5,8(55
$7)4,8(55.025
$27.1(5 24.27 4 1(5
$54.50
Fr o m Wh ic h Mu s t Bk Dh d u c t h d ; Long-term debt. Reserves..
... " .
Total................................
SlIARHMOI.IlKRS' NWORTH . . .
$15,000,000 1,0(55, .757
$1 (5,0(55,757 $40,858,4(52
'$14.0(5 1.0(5
$1(5.02 $40.7-1
$15,000,000 0(55,781
$17),0(55,781
$48,800.2-14 '
$14.02 0.0(5
$15.88 $48.71
Thi" Ohio' Rubber Company Division entered into an agreement with.The Gora-Fee Corporal ion in lP5-`> for cxcludvo license in the I'mod Stated of it.s automatic molding machines, designed to produce1 a wide variety of high-precision molded rubber ,Marts at a rapid rate. After developing a number of items for various industrial uses. The Ohio Rubber..Company in February 1 !>r7 pur* chased all of the assets of Gora-Fee, including "patents and its Strat ford, Connecticut, plant.. This acquisition has already broadened The Obit) Rubber Company's product line and offers further attractive growth possibilities. Purchase, price of (.lit* patents,'which run for eleven years, amounted to approximately $2.000.000 and is being amortized over their life.'
The Mining and Smelting Division during. 1957 expanded its Rare Metals Plant at Miami, Okla homa, -to- produce silicon, which is now being made and sold commercially in small quantities. Usage of this metal has been increasing rapidly in the semi-conductor field, particularly in applications where high .temperatures are found. Generally speaking, it is complementary to, : rather than, com pet it ivy with, germanium, of which KaglePicher is the- largest domestic producer. This further broadens the activities of the Mining and Smelting'|)ivision which, in .addition-to.zinc-lead find rare nietals, produces and sells chat and cadmi um, and owns The Northeast Oklahoma Railroad Company and the Consolidated Supply Company.
Shareholders
At November 22, 1 DAT, the Company had 7,(IT) registered shareholders as compared with 6,91 f> shareholders a year earlier. These figures do not include the many hundreds of beneficial share-, holders whose shares are registered in the names of brokers or nominees of banks. Neither do,they include some 500 salaried employee, shareholders who are paying for their savings plan shares through payroll deductions and whose shares are held by a nominee.
DIVIDENDS PAID PER SHARE . .--..rsCalondar Yvuri:.'.;, CiTC, TfSTfeC
NET WORTH PER SHAKE A: .V-.fjnlw-T
1949 1950 1951 195? 1953 1954 1955 1956 1957
Directorsand Oflicers It is with sincere sorrow that, we report the
passing on August 24, 1057 of Mr. Joel M. Bowlby. Mr. Bowlby served its President from 1041 to 19-19 and as Chairman of the Board from .1940 to 1955; he w;is a Director of the Company from 1941 until his decease. He consistently rendered loyal andintelligent and; constructive Service to The Kagle Picher.Company, and his loss is deeply felt.
Mr. Robert S. Johnson, formerly Vice President of the Warner-Lambert Pharmaceutical Company, was elected a Vice President, of The Eagle-Picher Companv as of July 1, 1957 < ioncral
All oflicers, all members of the Board of Direc tors and a large; percentage* of salaried employees ore shareholders of The Eagle-Richer Company, in some eases to an important extent-in .relation to their net worth. It is more than a-platitude, t herefore. to say that, this organization is definitely profit-minded and desirous of increasing the return on shareholders' investment. Our primary objective in expanding and diversifying the Company's business.is. to increase per-share earnings.
In pursuit of these objectives, the Company ..during the past, five years has expanded both from within and from without, the latter including the purchase of three of its present six operating divisions. As indicated by developments during 1957,-opportunities- to expand from within the Company are constantly growing, and we have every confidence that such opportunities will con tinue in the future. ...
(/ Cincinnati, Ohio January 27, 1958
---- -
President .
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Tin-; KACLK-riniKii c o m i'a x 'a :
/-<'()XS()f.i:l;iATIvi>: HAmKrivSIlKKT^ :;V:;
AY ! .....
ASSFTS v .vTSe.Yc.'*!y': YT.v '
Y' - " '
1 i,,V
Y'Y'Yv -y "Y.-Y ..'V.'S. '
('I'KliKN'T .* ITS
Cash
; l . S. Covernment obligations at. cost
. (approximate-market
^ V >.
Accounts and notes receivable, less allowance lordoubtful receivables,
$850,260and $204,221
. , : ...
,. :
Inventories ol raw- materials, vvork in process, finished products, and
supplies mote 11
... . . .5. .. . .
To TAI, ('11K!! :.N"I' A.SSKTS
$ 7,200,204X : $; 8,500;i48 V
815,855
11,215,752
12,862.87!).'
17.02-1.084 26,555,086
16,244,648 27,706,665 t
OTHFR ASSFTS
Repair, parts and maintenance >
867,276
Investments, at or below cost and niscellaneotis accounts and advances
1,442,872
; 2,810,64!)
818,250 1,007,458 1,015,708
PRGPFRTY, PLANT AND FQtHPMFKT, AT COST...:. .'. , ... :
62,105,!)28
/.css: Allowance for depreciation, depletion, 'etc.
7.7. t 88,556,048 v
/, /".y c /
Yy YY' ;
28,540,875 sc
61,520,051 87,180,708 24.880,2-4!)
l-ATKNTS. AT COST kws amiirtiziilion, l:ll.i3
..................
....... 533
YYY?
YY, YY
s ;ar
;Y:.; YV;
PRFPAII) AND DFFKRR Prepaid freight, insurance, etc7.-.y..." .V................7.7.- , 7/"
Miscellaneous deferri'd charges....................................................................
TvV.- `-V:'/'
-c, ^;
581,246 786,221 1,867,467 $65,602,610
, , ,, . v,; 408,578 762,570
1,261,157 $65,272,870
"Cth V. l-
ys
t '.
775- accompuai/iiii] notes arc an v.tcijrai
-w
'A N I) I) OM: E S T I C SU HSI ill: ARIES
A-.'
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ITT AT NOVKMliKR MO,
AND lOAO
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. T'.
A A,.'A. a 'V ' A
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A. " ..AA -A.,'A A;.A; 'A..... -
' N. At ;
... ,
A- A.-:.
-'T - .. -
' 'iAVx a
a-Aa'
I.IAHU.ITIKS
' I'T'i VT- A 7
A ; a a .-AvAa ' . ;.;i: ... . a v
CFRRHXT FIABIFITIFS
Accounts payable. , .
'A'A a -.A- >
Dividend payable . .
l!ir.7
i.n......
: a a v a ,.; ;
a .a
aA , ..
K: . ,v . :
,,-T
"A'AAA. .a -a a a ^a
;
. : ' s/
, v A,-;./- -Ay,,,;,.,-';:'A, ...
...
$ a,295,OPT
$ 6,522.942
551,685
552,848
-V
Accrued' liabilities. . .
2,921,759
2,707,901
Federal taxes on income, less F S. (lovornmont obligations at, cost,
: $8.257t 542 and $5;847;942, :
X;,a . .
.... .;,r;: .E**. w2
614,162
'1'OTAl, CURRKNT FJABIUTIKS(
. ....
8,768,491 -
10,407,854
A
A LONG-TERM DKBT (note 2k . . .
, .a " ,
2:! ; notes, maturing serially to July 15, 1974 X 15,000.000
15,000,000
RKSFRYFS FOR S R I,F-1ESERANCR
1,065,757
965,781
STOCKHOLDERS' FQFITY
Capital stock par value $10 per share; authorized .1,500,000 shares; issued and outstanding 1,013,077 shares (note 8)... ... .... ....
10,120,770
10,120,770
Surplus: Capital surplus
.. ..
................................................................
Famed surplus (note 2)............................................................................
Less: Treasury stock, 10,305 shares -- at cost...........................................
2,009,780 28,127,827 41,268,877
410,015 40,858,862 $65,692,610
2,998,619 26,070,822 89,190,211
290,967 _28,899,244 $65,272,879
i. ir.leyral part of this balance sheet.
7-
TIIK EACLK-IMC 'IIi:i! COMI'AXY AX I) DOMKSTIC Sl'HSIDlAIMKS
s t a t k mk n t s o f coNsoi.m.vn:i> p r o f it . a n d l o s s a n d i:a k m:j > s i r im.i s
YKAKS ):XI)KI > NOVKMHKIi :!(),
AM)
IXUOME Xet s;ikis. . ()t Ih t income.
C'OSTS AX'D EXPEXSES Production :md manul'act urin.u costs Selling, ireneral and administrative expenses Provision for depreciation, (U'plvtinn and patent amortization. Interest .
PROFIT FROM OPERATION'S Stale taxes on income
before Federal and
FEDERAL AXD STATM TAXFS OX INCOME. .
NET PROFIT FROM OPERATIONS. . .
...
X FT 'PROFIT" FROM SPECIAL PI'Id MS
Non-recurring profit from Mexican subsidiaries, less special charges ....
1057
105(5
$117,752,604 207.420
1 is, 120.12*1
$116,407,000 542,71
116,050,712
00,878,872 0,017,180 ' 3.216,858 57:7.4 US
no,5ss,.ns
02,145,560 8,(554.(551 2,006,227 572,4(52
105,4(58,0 1 0
7,521,70(1 2,2(55,000 1,2(5(5,70(5
11.481,704 5,085,000 5,40(5,704
400,62(5
NET PROFIT FOR VFAR
4,266,706
5,006,420
FARXFI) SURPLUS AT BEOINNINC, OF VICAR. ('ASH OIVIDFXDS PAID AND ACCRUED
26,070,822 20,227.528
2,200,701
22,170,061 28,077,201
2,006,560
FARXFD SURPLUS AT END OF YEAR (note 2>................ . . $ 28,127,827 $ 26,070,822
The aeeompamjing nolo* are an integral part of this statement.
TIN-: KAGLK-PK'IIKR COMPANY AND DOMKSTIC SIBSIDIARIKS
NOTKS.TO FINANCIAL STATKM KN I S
NOVKMRKR ISO, 1977
1. Oros,' metals and metal bearing products have boon valued at the lower of cost or market which has been reduced to state basic quantities of lead and zinc, 9,000 and l(>,000 tons respectively, at fixed prices, based on (i.7 cents per pound for lead i New Yorki and 7 cents per pound for zinc (Mast. St. I.miisi, undortho basestock method of inven tory valuation adopted at-November 00, 19-19,
Other inventories have been valued at average and standard costs, or lower,' which approximate re placement market. '
J. Coder the provisions'of-the' loan agreement. per
taining to the d1! % notes due July Id, 197-1, the
company is required to prepay $1,000,000 on -July Id of each .year do'.maturity commencing in 1900. . The | */(' - notes contain a covenant which, so long as any of the notes remain outstanding, restricts the amount which may be declared, as dividends (other than those payable in capital stock of the company i or applied to the purchase, redemption or retirement of the company's capital stock. At November :I0, 19d7, the amount not so.restricted was approximately $10,1270.000.
:t.Under a stockoption plan approved by the stock holders, of the company on March 'JO, 197,1, key employees of the company may be ((ranted options', to purchase an aggregate of 77,000 shares of capital stock of the company. Options ((ranted under this plan shall be for terms not to exceed ten years and shall not be exercisable until one year from the date ((ranted or at any time unless the last sales price ('market, quotation! before the date of exer cise is at least :20fT above the option price, the option price being the .fair, market, value but not less than the* last sail's price of such stock on the
New York Stock Kxchange at the dale of granting. The shares subject to each option shall become purchasable to the extent of thVT on the first, and each successive anniversary of t he date on ..which the option was granted, the installment rights being cumulative. As of November lit), 1977, options have not. been granted for 12,000 shares of the capital stock nuthorized to be-issued. At November :i(), 19d7, there were outstanding options entitling the holders thereof to purchase 10,.'170 shares at $ 19..'!7d j xshare, 7," 70 shares at $'.!(>..'177 per share and :t,d00 shares at $:i9.7d per share.
1. As of November '!(). I97(>, the company, purchased, for a cash consideration of $9.'!(>,12(!I in excess of the book value, till of the assets of the Chicago Vitreous 'Corporation; In the annual report for the year 1 97<>. this excess was charged against profits. At that time, an appraisal of the properties had not been, made and 'management considered it proper and conservative not to capitalize the excess, 'flu* company has now received an'ap praisal, which indicates that this excess could reasonably he allocated to property, plant,-and' equipment. In preparing reports to the Securities and Kxehango Commission, the excess has boon capitalized in property, plant, and equipment and is being depreciated on t he basis of t he estimated lives of such assets acquired, resulting in an in crease in income of $9.'i(i,l2(il in 1970 and a reduc tion of approximately $.'J0,000 in 1977.
7. A portion of the company's sales for the year ended November -'10, 19-77 is subject to renegotiation under the Renegotiation Act of 19.71. Manage ment is of the opinion that adjustment, if any, will not lie significant.
F I V F-Y ft A K Sl'M M A RV
FOR TUI*: FISCAL VHARS 1053 10A7
SOCItCE OF FI NDS
Net Profit. .
jp2o,Sf;(>,on:{
1 )epreciation, Depletion and
Amortization
12,800,000
Increase in Long-Term Debt. IVcroase in Foreign Investmoats
i, I2r>,t)00 930, nos
I)ispositionof Fixed Assets
4,0ri9,208
Ollier Sources.
(>79,009
APPLICATION OF FI NDS
Dividends Paid. Capital Additions Patents<& 1'atent Rights Acquired Increase in Working Capital Increase in Other Assets .. Other. .............................................
$ S,9S2,1 !)1 22.110,016 2,041.467 1,002,193 1,277,555 4in,oir>
$-10,792,437
$-10,792,437
o'oDC
; v : V.-.
7' F'" LC
Foil Tnio A'i-:a k s Kn p k p No y mmiik ii 20 9)57
1056;
1055
1054
1052
INCOME STATEMENT
Net. Sales .......
. $ 117,7:12,094 $116,407,000 $114,480,080
Depreciation, Depletion and Amor fixation ... . .......
3,210,898
2,006,227
2,060,260
Net Profit Before Income Taxes .
7,521,TOO 11,481,704 10,204,062
Net Profit .
4,200,700 5,006,420 5,004,062
Net Profit. Per Share .
4.25 5.88 5.06 ..
Dividend Per Share "-Calendar Year
2.20
2.00
1.80
$82,222,880
1.000,578 4,94(5.820 2,446.820
2.47 1.50
$85,022,402
1,557,272 5,052,066 2,242,066
2.28 1.50
As a t No v u m unit- 20
1057
1056
1055
1054
1052
BALANCE SHEET
Properly, Plant & Equipment, net. $22,540,875
Working Capital..................................... 27,780,505
Long-Term Debt
15,000,000
Net Worth. .
.............. 40,858,362
Net Worth Per Share ............
40.74
Shares Outstanding at. Year-end . . 1.002,072
$24,280,240 27,208,811 15,000,000 38,800,244 28.71 1,005,000
$24,470,614 22,247,257 15,000,000 24,824,412 25.22 080,177
$25,824,400 18,447,048 15,000,000 21,610,017 21.06 080,177
$17,582,085 25,808,740 15.000,000 30,646,045 20.08 089,177
- 11 -
PRINCIPAL PROPLRTILS AXI) PRODUCTS
('H UMK'AL DIVISION
M AN I T'ACTl'HI N<! PI,ANTS:
: JOI'LIN, MISSorKI
u a l l n a , Ka n s a s : iiu.i.sinxto,, Il l in o is :
PH I NCI !'A I, PHtlDl ( TS Zinc and leadchemiralsand pigmenls: elrrironir
grade germanium, silicon, gallium; sulphuric arid: special purpose clrrtrir power supplies
(TIK'ACO VITRKOUS ( 'ORPORATION DIVISION
MAN l' IfAt 'TtJ li I N( i I'I, A.NT: ein,un, Il l in o is
PRINCIPAL PHODl.'CTS Ceramics: porcelain enamel frils fur home appliances such as ranges, refrigerators, washers, driers, freezers, spare heaters, water heaters, ; i In 1111 >i ti p: ware, mill fur lighting fixtures, iireliileeturnl paneling, outdoor sinus mill ot her'products rr<|uinng protective finishes; steel buildings (Luslrrlitr Corporation): manufacture and erection of nll-poreeliiin enamel service stations lor the petrolenm inilustry
FA HR I ('ON PRODUCTS DIVISION
MA..NUKA(HTHIXI5 PLANTS: . iiiv k h k o u o k , mic iik ia n : rim.ADKi.iMiiA,' riTTsiu'imii, i'k n n s v l v a n ia : l o s a n u k i.k s , o a l iI'OIin ia
PKINCIPAL PHODUCTSAutomotive: door trim foundation panels,' trunk lining boards, sound dendrnrr parts, Moor carpets, sunsiiadc visors, dash insulatormats, nlove boxes: plastics: "l.amin-Arl" decorative laminated sheets, molded polyester fiberglass or sisal parts, custom impregnated papers, textiles and glass cloth; packaging matdials: plain and printed waxed paper, printed cellophane and polyethylene
INSULATION DIVISION
MIN INC AND SM LUTING DIVISION
OHIO RUBBUR COMPANY DIVISION
MANUfACTliHINO PLANTS: joei.ix, Missorm
o l a iik , n k v a o .v : h o v k h , \i:w .ik iis k v ;
PHINCIPAIi PRODUCTS.....Mineral wool insulations: cements, blocks,
blankets, felts: aluminum storm windows and screens, storm and screen doors: dialomaeeous eari li products: fillers, aggregates, absorbimls, catalyst supports
MINUS: t k i-s t a t k nisTUKT (mis s o i u i, Ok l a h o ma , Ka n s as ); o a l i'.n a ,
ILLINOIS: Ll.NlllvN, SllliI,I,Slll!ll(l, WISCONSIN: PAItKAL, MKXH'O. /INC
S A11v I ,T ! ) U:: 11 ic x it y irrta , Ok l a h o ma . C( INCKNTR ATI NC. .MILLS: COMMlCItCi:, OKLAHOMA: UAI.ICNA, ILLINOIS; LINIIICN, SIlCI.LSIirUO, Wis c o n s in ; i-AiiiiAL, Mexico. 11AH K MKTALS PI,ANT AND HKSKAHCII liAMOUATOHA': ml a mi, Ok l ah o ma
CONSOlilDATKD SUPPLY COMPANY: t u bk c k , Ka n s a s
NOHTli LAST OKLAHOMA HAILHOAD COMPANY: Mia mi, Ok l ah o ma
PHINCIPAIi PHODUCTS--:Slab zinc,chat, cadmium, germanium, silicon,
zinc concentrates, lead concentrates
MANUKAOTIJHINCi -PIiANTS: il l o c c iiiiv , o mio : c o n n k a u t v il l i:,
I'KNNSYLVANIA-.: LONfi IlKACII, f\\ LI I'OIINI A ; STIlATKOHl), CON N KCTICtIT
PHINCIPAIi PHODUCTS -Custom-made rubber parts for manufacturers
in automobile, agricultural1 implement, electrical appliance,: toy and other industries; molded, extruded,' rubber-to-metal mechanical rubber parts: automobile Moor mats, miscellaneous mats, weatherstrip, tubing, vibration mountings, handle grips, semi-pneumatic tires (wheel goods, industrial,:agri cultural), defroster hose, tracks for track-laving vehicles (military and in dustrial), and flexible vinyl parts; produets are manufactured from natural, synthetic, polymethanc, and silicone rubbers
