Document pB5mZzknDYpnwn1maE83jyo7

PLAINTIFF'S EXHIBIT K-1769 MOODY'S INDUSTRIAL MANUAL AMERICAN and FOREIGN FRANK J. ST. CLAIR, Editor-in-Chief Editorial Board Lloyd C. Sweet W.Arthur Herrmann David M. Day George H. Parsons M.David Ellinwood C.Albert Esokait Richard Olney LahftwMff 1963 UULl 11963 Dallas Publio Library Robert H. Messner, Publisher MOODY'S INVESTORS SERVICE, INC. 99 CHURCH STREET, NEW YORK 7, N. Y. PHILADELPHIA BOSTON CHICAGO LOS ANGELES WASHINGTON SAN FRANCISCO Suburban Station Bid*. 75 Federal St 135 So. La Salle St 606 So. HU1 St Woodward Bid*. Ruu Bid*. LONDON: MOODY'S INVESTORS SERVICE, LTD. Arthur Street, London E.C. 4 Copyright, 1963 by Moody's Investors Service, Inc., New York--All rights reserved I I JLU MOODY'S INDUSTRIAL MANUAL Operating & Financial Ratios Current assets 4- current liabilities.. % Cash and securities to curr. assets % Inventory to current assets.____ _ tnet current assets to net worth..-- property depreciated____________ % annual deprec. to gross property-- Capitalization: % capital stock and surplus_______ Sales 4. inventory________________ _ Sales 4- receivables % sales to net property ----,,.... t sales to total assets ... net income to total assc_ net income to net worth. ^Analysis of Operations Cost of products~sold!... [^Marketing & admiTi. expenses . Operating profit. Other income , TtJo. tsa.l income_____________ _____ St Canadian income taxes.__ Net income_____ --____ ___ , __ KINot available: Included In "marketing 053 weeks ended Aug. 3, 1958. 1962 3.79 1721 51.40 46.85 47.49 6.73 1961 3.98 22.19 48.63 51.61 46.46 7.18 1960 329 921 51.53 51.06 42.72 7.13 1959 420 5.42 63.69 53.93 39.90 6.66 i .1 01958 3.63 1439 59.77 5331 3738 624 1957 3.77 11.70 67.77 5531 35.75 4.93 1S5S 4.00 25.66 5733 6319..8244 523 100.00 100.00 100.00 100.00 100.00 100.00 moo 5.15 5.19 426 3.95 4.96 3.54 3.96. 9.58 458.11 143.97 10.89 9.28 483.35 14822 11.37 9.05 450.66 145.97 1127 8.53 44824 152.42 10.58 1034 473.84 163.08 10.26 ! 1222 45621 150.72 1024 mi 567.76 155.15 1026 12.75 13.36 1323 12.37 1233 1228 12.73 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 106.00 10^00 71.53 1227 1610 71.43 12.17 16.40 71.54 11.94 1622 7329 11.36 14.75 75.07 11.75 13.18 74.34 11.56 1420 74.66 1126 14.08 16.10 8.54 727 10.40 8.73 7.67 1622 820 7.72 14.75 721 6.94 0.03 1321 6.92 629 14.10 721 6.79 0.15 1423 7.43 6.80 and administrative expenses" above. 0Includes "other Income" not reported separately. CAPITAL. 8T0CK On $1.80 par shares in calendar years: stare on Nov. 17,1954, by First Boston Corp., L Campbell Soup Co. stock; par $130: AUTHORIZED--12300,000 AaresloutstMding. July 29, 1962, 11,163,642 shares; reserved for options, 126,500 shares; reserved for employee 1955-58 1.50 1959 1.65 1960 125 1961-- 2.00 1962 BjTo May 1. 220 011963 LIO Dividends payable quarterly about Jan. 31. New York, and associates. Offering did not represent company financing. fl.000,000 shares) at $50 per share on Feb. 17, 1960, by First Boston Corp., New York and plans, 163,486 shares: par $1.80. etc., to stock of record about Jan. 15, etc. associates. Offering did not represent com Shares changed from no par to $1.80 par PREEMPTIVE RIGHTS--None. pany financing. Nov. 16, 1954 by 10-for-l split. ISSUED--(21,379 shares) In Nov. 1954 for TRANSFER AGENTS -- Morgan Guaranty As of Oct. 2, 1962, trustees under will of Dr. John T. Dorrance owned approximately 64% of stock. VOTING RIGHTS--Has one vote per share. DIVIDENDS-- Payments In fiscal years ended July 31: no gar shares (adjusted to ft-SO par): $5-5214 1M0-- $0.85 1941-46 $0.60 1947-49 0.80 1950-51 1,60 1952-64 120 acquisition of Joseph Campbell Co. (641,000 shares) In May, IMS for acquisition of C. A. Swanson & Sons and certain related properties. (357,413 shares) in Jan. 1961, for acquisition of Pepperidge Farm, Inc. LISTED--On New York and PhiladelphiaBaltimore-Washlngton Stock Exchanges: un listed trading on Boston and Pacific Coast Stock Exchanges. OFFERED--(1200,000 shares) at $3925 per Trust Co.. New York; Camden Trust Co., Cam den, N. J. REGISTRARS---First National City Tinny, New York; First Camden National Bank & Trust Co.. Camden, N. J, DTrIVusIDt ECNo.,DCaDmISdeBnU, RNS. IJN.G AGENT--Camden Stock Options: Held- by certain executives at July 30, 1962 on 88,450 common shares at grtcesfrmn $50.94 to $122.05 per share expire CAPITAL STRUCTURE CORNING GLASS WORKS ' .W- LONG TERM DEBT Issue 1. Income debenture 3%s, due 2002 -- CAPITAL STOCK Issue 1. 3%% cumulative pfd., 1945 series.. 23.. 3C)foc%m. mcuomn_u_l_a_ti_v_e__p_f_d_._,_ _1_9_4_7__s_e_r_ie_s,-- 'QjPrtvately held. Rating Q]l_ Far Value $100 100 5 Amount Outstanding $8,70M0T Amount Outstanding 20,850shsn 29,135 shs.j 8,791285 shsi Times 1962 1961 3726 6222 Earned per Sh. 1962 1961 $562.10 $479.09 401 3.79 Interest Dates A&O 1 Dlvs. per Sh. 1962 1961 f$320 $3.50 1 320 320 2.00 3.00 Can Price Seetext CaQ Price 101 102& . Price Range a19i6-2 m19--61 ,,1962Price Ran19g6e1 90 - 87 89 - 83)4 96)4- 92V, 93)4-88 194)4-105)4 194)4-145)& HI8TORY | Incorporated^! New York Dee. 24. 1936, as a consolidation of a New York company of same name originally incorporated In 1875 and Macbeth-Evans Glass Co. incorporated In Rgnsylvania In 1899. Business established In 1851 and 1869. On Sept 12, 1945, merged Corning Realty Co., a wholly-owned subsidiary owning Corn- VYo*r^k uaUnd5llclfeLrtaat,inTrleftahltAyvaet. Caonrdni5n6gt,hNS.LY, .New In Aug. 1956 purchased remaining 50% In Owens-Corning Flberglat Corp, (8121% owned): See general index. pmr Corning com, (50% owned): Incorpo rated in Mtehtgan in 1943 in association with Dow Chemical CO. Operates plant at Mich, for manufacture of electrical insulating resins, greases, fluids and elastomers re sembling natural or artificial rubber, all gen erally known as silicones. Dow Corning AG (50% owned): Incor porated In Switzerland in 1960 in associate with Dow Chemical Co., to finance and man insulators, lantern globes, optical glass, re fractory products for chemical, metallurgical and electronics industries, etc. Most of com pany's products are sold under trade marks. Corning, Pyrex, Pyroceram anrf Vycor. Sales offices at Coming, N. Y., New York, Chicago, San Francisco, Los Angeles, Dallas. Pittsburgh, Houston, AtlantaTwashington, lPa-nCd.., Cleveland, Raleigh and Zurich, SwitzerPLANT AND PROPERTIES terest In Corning Fibre Box Corp. age certain Interests outside XT. S. Main Plant: Coming, N. Y.: Railroad, ma- On Nov. 28.19, merged Steuben Glass Inc., Industrial Reactor Laboratories, Inc.: rine and aviation signal ware; thermometer a subsidiary, now a division. Formed jointly with nine other companies and other tubing; coflee makers; piping, spe 8UB8IDIARIE8 A AFFILIATE8 Cortart Refractorim Co, Inc. (wholly- owned): Organized In Delaware In 1927. Owns and operates refractories plant at Louisville, Ky. and Buckhannon, W7 Va. On Dec. 27, 1958, acquired refractories business of parent. Corning Glass Works of Canada; Ltd. (wholly-owned): Organized In 1945. Owns 105,- to provide facilities for atomic energy re search programs of constituent companies. Began operation early In 1969. Corning Mexicans S. A. (wholly owned): Oiganized In Mexico In 1951 (inactive). Corning Fibre Box Cora. (100% owned): Fabricates substantial part of paper packing material used by company in snipping prod ucts to customers and oistributors. In 1962 cial industrial glassware; optical ware; nnrf technical glass, filters, ovenware. top-of-stove cooking utensils. Pilot Plant No. 1 is located In this plant. Floor space, 1,021200 so. ft .bu^lbTs<t."F*;loaoror PspI"ac"*e:, C33o1m20in0gs,q.Nf. tY/Televlslon Fall Brook Plant: Coming, N. Y.: Machlnegab ftg 8114 smaU bulbs' 51001 *wce. faor* 5th?*e*5C;aPn*a8?di*aan*mInasrkideet .isOpnrot.ceCsosrendinagt wLaerae- entered the foam plastic packaging field. James A. Jobling Co. Ltd. (England) (40% Pilot Plant No. 2: Coming, N. Y.: To/Studv new manufacturing methods under produc wde; and plant is used as a warehouse ar|f* distributing point for Canadian market. owned): Stock Interest acquired by company tion conditions. Floor space, 55,800 sol ttT In 1954 from Pllkington Brothers. Ltd. Manu Glass Center: Coming, N. Y.: Employee's J5""?1?* "**, ln*entatiwial, SA. (wholly factures Pyrex brand ovenware, tableware recreation center and Hill of Science and ovmed by Corning Glass Works of Canada. chemical ware, and industrial specialties in a Industry. Floor space, 57,500 sq. ft 7-,: incorporated in Panama in 1959 with plant at Sunderland, England. xr AMPneeHn* Building: Coming, 2,<VltSL2t Panama, R.P., Zurich, Switzerland, 717 Fifth Ave., New York and Corning, N. Y, to coordinate export of all Corning and Corhpt products in all countries outside of the U S. and Canada. Societe des Verrerie* Industrielles Rennies du Loing "Sovirel" (Franca) (formerly La Pyrex, S. A.) (32% owned): Manufactures Pyrex brand ovenware, television bulbs, chemical ware and other products at plants at Bagneaux-sur-Loing Aniche, France* Signetics Corp, Sunnyvale, Calif. Majority Interest acquired in 1962. Operates plant at Sunnyvale, Calif. Manufactures microelec tronic Integrated circuits for the computer and ooiTVTTYiiTiifgvHrmg industry. N. Y.: Central machine shop and machinedevel^pment departments. Floor space, 57,700 Houghton Park: Coming, N. Y. Includes in addition to Steuben Plant and Coming Glass Center an administration building, 11C400 so. ft.; research laboratory, 60,100 sq. ft: de velopment workshop, 68200 sq. ft/ Corning Fibre Bex Corp.: Coming, N. Y.: Fibre boxes Floor space, 170,000 sq. ft. In 1962 established a foam plastic package and plant at Frederick, Md. yc 5*5 a Slass plant at Santiago, Chile, andls prelusive licensee of company's parents in Corning Gian International 8. Ag Conducts sale of company products outside U. S. and Canada Big Flats, N. plant: Chemical and labora tory glassware and other miscellaneous in dustrial glassware. Floor space, 152,000 sq. ft. Other associated companies are Crlstale- _WeHborq. Pa, Plant: Machine-made bulbs: rias RigoUeau, S. A. (Buenos Aires), Cia. Vidraria Santa Marina, S. A. (Sao Paulo), 4C0h0rSisOtm. iats tree ornaments. Floor space, 298,- srs.gss '--U. 1 owned): Or- with Pittsburgh Plate Glass*Cion. aOswsoncsiaatinodn operatesplant at Port Allegheny, PaV-SedaUa! Mo. and Tyler, Tex. for manufacture of hollow glass building blocks, also cellular glass produetsrold under trade name of FoamglaLused tmoaa^t g^eratlon chambers"and! as*a flotation Cristalerias de Chile, S. A. (Santiago), LElectro Refractalre (Paris) jti<i Borosil Glass Works Ltd. (Bombay). BUSINE88 A PRODUOT8 . Engaged in manufacture of glass products, including fluorescent, electric light, tele vision and radio bulbs, electronic comply nents; tree ornaments, tumblers, lamp chim neys, tubing, vacuum bottle linen, tableware and lighting ware, Steuben line of stemware and art glass, cooking ware, laboratory ware, ' p,anfc Machine-made Kf'44U00 .WCUmn btae Unem 1,001 ware. lightingPaw"arpe,,a"mHiscHelolaunseeowuasreps,rodtaubcltes. Floor mace, 612,100 sq. ft. Bradford, Pa., Plant: Electronic components. Floor space, 142,560 sq. ft. ------------- w. Va. Plant: Machine-made au.xli\ UJLJL Laboratory jace 268,600 and ft. Corhart Refractories COu Louisville, Ky.: Re fractories. Floor space, 142500 m. ft Liverpool. Australia: Small plant for manu C. H. Kruldenler. Asslstant Treasurer HoS? ** facture of bulbs for television tubes. Floor Ttatoc ^t^r^rtLSManSartuTM bulbs and space, S0.000 sq. ft. Manufacturers 1962 Capital Expenditures totaled $17,970,000, and expenses for research and development Floor area, 103.- were $12,945,628. O.J pyre* ware plant. Floor MANAGEMENT Officers: ! _ Ck. fD-fMacbeth. HbnoraryVice-pISf64 W. C. Decker, Coming, n. y. Amory Houghton, Corning, 17 y Amory Houghton, Jr., Coming. N V Arthur A. Houghton, Jr,, New York m*. 2^*000 fidManufactures elecFloor area, 120,000 sq. ft. -ssfi^&a ksustshe Amory Houghton, Chinn, of Exec. Com. William C. Decker, Chmn. Amory Houghton, Jr,, President Charles D. LaFouette, Fin. Vice-Pres. William H. Armistead, V.-P. (Tech. Staff) Charles D. LaFoUette. Corning NY George D. Macbeth, Coming, n. y' ` George Mumane, New York RobertD. Murphy, New York Howard C. Sheperd, New York L. A. Amylon, Vice-Pres. Jlnd. Rel.) . John R. Kimberly, Neenah, Wise S5ffiSV% """" "*" Forrest M. Behm, V.-P. (Lamp Prod.) Paul T. Clark, Vice-Pres. (Tech. Prod.) John B. Cobum, Cambridge, Mass. B. Lee Waterman, Coming, N. v. epace. SO'^mSielVoffice building and Steu- j^ss.'SgjSSBSiasfffi-sa: 3ls.Sk*"S2^ " Works of Canada, Ltd.: LeaCoPlji?5. rS!*ewares: warehouse and dlsSSiUMiatot Floor space, 195,800 sq. ft. Allen W- Dawson, V.-P. .(Tech. Prod.) William H. Armistead, Coming. N v Malcolm H. Hunt, V.-P. (Electron. Prod.) Paul T. Clark, Coming, N, Y\" ` Xm . Lee Waterman, V.-P. (Cons. Prod.) Auditors: Price Waterhouse & Co. Arthur W. Weber, V.-P. jMfg. Svces.) Corporate Counsels Frederick H. Knight Thomas S. Wood, Jr,, V.-P. (Purchases) Annual Meeting: Second Tuesday In Apr. Frederick H. Knight, Secretary Thomas Waaland, Treasurer Number of Stockholders: Dec. 31.1962: Pfd * 384; common, 14,018. a'' Robert W. Foster, Controller Henry H. Sayles, Assistant Secretary Number of Employees: Dec. 31,1962,15,000 William W. S__in_c_laire, Assistant Secretary Main Office: Coming. N. Y. tributing COMPARATIVE CONSOLIDATED INCOME ACCOUNT, TEARS ENDED INCOME ACCOUNT Net sales |TCost of s^algeesn &'Fdmini3~'exp's.'------&&& development expenses - Dec. 30,'62 $--2-6--2-,-1-9--9-,-8-8--6 171,154,450 35,087,885 12,945,628 Dec. 31/61 $229,568,819 150,058,528 28,972,485 10,714,482 Jan. 1/61 $214,871,286 148,931,976 25,538,706 9360,782 ^ Jan. 3/60 $204,8 87,424 133,887.424 25,379,666 8,132,645 $D15e9c,1. 3278,7,5289 108,092,336 16,791,054 6,903,224 Dec. 29/57 $159,069,721 111,329,776 15,893,734 5,630,697 Dec. 30/56 $163,053,554 109,015,676 14,638369 4,792,272 Operating profit . Other income-------- Total Income -- Interest, etc. ------Federal income tax Estate income tax - 43,OH,923 9,592,589 52,604,512 1,407,903 23,100,000 39,823,324 8,835,473 48,658,797 731,897 21,490,000 511,000 " 31,039,822 10,159,769 41,199,591 710,850 18,026,000 408,000 37561,411 8,071,216 *'45,932,627' 875,728 20,300,000 421,000 27,351,115 6,162,427 33,513,542 749,999 15,600,000 "'26315,514 5,541396 ' 31,756,810 723,406 24500,000 34,607,337 3,832,717 38,440,054 707501 18,900,000 400,000 Net Income-------------------------ESpeciol charge------------------------ 28,098,M0 25,925,900 22,054,741 2334,924 *"24,335599 17,163543 16,533,404 ~ 18,432,753 Net income less special charge . Earned surplus, Jan. 1--------------- 28,096,609 97,789564 25,925,900 65,617,225 19,719,817 79,627430 24,335599 66,470,956 17,163,543 59,612367 16533,404 53502586 18,432,753 44,728,683 429,735 gSSSacSS&arT-----------Cofnwmn dividends -- 179546 13580,079 "l94"l33 13,559,728 201,252 13528,470 216,582 10,963,143 *228551 10,076,503 *231570 20,052.653 236.755 9,991,530 Earned surplus; Dec. 31---------- $112426,448 $97,789364 $85,617325 $79,627,130 $66,470356 $59.612367 $53562586 bppudmaGSenlonuUluefRMD[SBEa3ildrd^rOo3ns1PsaieIeJI1Iaen1fnwtnTsn11tnPaapso9irig9cac9ncot5xnr5Lf6sxllWite6l6aneuu".nu2eyEew::cm.S.sddend1RoMIihe,dnaeeu,aaeor1esoEooksctsprnud9ipt.lsolmtapNcln6urhyprnbewelt1edTe-ee.aF,ls:oilesAmirsa&yeotLwdtshRthitrnuecoeheonetcrYnnspsadedelaiodsltnlnu.daspPnapttdosnraae&.ittsyoounnirdixroru&ircercebsiptandibisisaonsuo.Limtststgmrtne,i.(i(ipSdbooa1dsDe1eoti9unra9t_s6tocALctc5r1ioteyf.2thoT,imd)odaiicA$tntpnoaeeroh3iatm,atnfeoa6an1rs2$"sf9nbiCoe195iel0,slne1oss4id0d.,v5hhr,aOn5esooc1O)t$iu9soww.enO15trr.dgnn38,05Oia$t$iawC0$nnr43226nfiaw,gog,f(Gb83362dibss,1m2l6e4u0ie:N,)74a309ntnis,o,e89ntu7Cs11eeu6;f3g0d9-cor;bdC566alime2;;11sCtol,s99:$aie11podm5c5119-r9a$9a6r2io660(w56aip6,r,5ann,.C,m07n4789r.1$h)yg,,y0156oi-$3p5n'ao61,3$-$s1r54,a-,,gC,20np3,l90814c-Fn4ls,4s-d,28.523yo5o93-i)ih392;51be0-mm26-af90osr8,-wro31er,-pp3.wo7-e19agaa0-3f96mns(9,nln2i1;aDne:;;,iyi$estd1o'111s'1sus9$9639999w9155n,,5f,6,C55474,o7e86n20d9m1007,o,,,r4q,5o13i8Cers5S,a$,,,u$$pt6847,i$to4392gjy2r.3i093o,t,,6,ri54c613l63nyb1nv4r1o274u;iaP262nn,ia,5t,n,n6isd4ge71s8t8i3o9t3osa0ds8860lo;mu$-.ib0;;CdcCe1n,ue8i5a11117oaado,9s5r995,t$r4tr0iegm65pe59t5n1s25i17d8h6s0.c,72,--,,,.,,,0183875f3atytmccoccpCohh3065osheorfaoeeee((srmamand$dctedrh5trcey))eegthai2soot1e9eomoICfdm9$p,adnoav5f61ooysrp22ed4r712ootmue2a.a,o,r9o,p189van6f1cTn5mp8at58ei19rtch4siy314htg.cn15reo.ei,e,,mio4o3a08o0chrnsdT8057dimnoaflcniwh2142iatcsmsfistpenatenretthtueoegshacdeeiotdnefkeifnaJnffciebtsteaowth$gotnayhcn1itsemasi3x51eta.tudtdm,,,heRho499t6m1ercdo5r534eeafe,tepri3t062-atlhetvt,bo.,rd,ai1e00Ih25oeexedn9eftu0046r-nienc5i4i0s2t5tcptai4raieuhdnateai.lceilern.vtopfyhnipl-deoenaArayataeosnhcbenclrptptehlgaemete1Rreoaer42e1n6daoesesrf,,,f,ct9506mtoo-vnfiyi4056dncaf,nberto4196i6ioxaten,9g,,tt3ui,161iihnmoea6eunni9726ntd2endnex84f50t,,l Record of Earnings, years ended about Dec. 31 (in $): Costand Net Sales Expenses P"oflt Oth. Inc. & Ded. (Net) 43377,815 331887332 9390.483 S 354.000 51,000381 42,689318 9311.063 4350,566 52,398.020 44.190,437 8307383 41355.173 48302301 44.141389 4,060,912 4363385 55,851,710 50,572,664 61395,727 57,145.718 5379,046 4450,009 817,701 4549,100 67,866,101 60,609394 7,256.807 41.161,264 73,197,782 61,618,194 11379,588 236,848 116,473,981 81,573.689 34,900392 770,495 115,750,172 93,052,059 22,698,113 1,164,551 126,455,784 98,811,014 27,644,770 871,386 149,294,036 116,779,396 32,514.640 1,524,755 147,938.842 113,839,904 34,098.938 1,892,253 157,663,837 121,559,461 163,053,554 128,446317 36,104,376 34,607,337 23,,719225,,249156 Ina Bef. Taxes 9,036.483 8,960.497 6,952.410 3)677,027 4.461345 3)600,909 6,095,543 11316.436 35,670,787 23,862,664 28,516,156 34,039,395 35,991,191 38,896,671 37,732,753 Income Taxes 6,417.708 6366.130 4.959.718 1392,080 1,660.700 1382300 2,447.290 4,738.052 18,058,432 13,721,500 18.193.000 21.358.000 18.501.000 20.270.000 19.300.000 Net Income 2318,775 2394367 1392,692 2384347 2,800,645 2318,409 3.648353 7,078,384 17,612355 10,141,164 10,323,156 12,681,395 17,490,191 18,626,671 18,432,753 Common Dividends 1385,536 1385,536 1385,536 1317.654 1317354 1317.154 1317.154 2,634,308 5,287,366 5.318.016 5.318.016 5,318,016 7,977,024 9,980,655 9,991330 Com. Shs. Earn. Per Outstand. Com. Sh. 642.768 335 642.768 3.93 650,777 3.05 2,634.708 0.86 2,634308 1.00 2,634308 0.73 2,634308 ' 1135 2,634,308 r 236 2,649,533 633 2,659,008 8.70 2,659,008 3.77 2,659,008 4.66 2,659,008 6.48 6,660,020 2.76 6,681,202 2.72 BALANCE 8HEET ASSETS Cash________________________ SSWS&S CONSOLIDATED BALANCE SHEET, AS OF Dec. 30/62 $15,488,887 25,506,663 26,044,236 35,878,226 Dec. 31/61 $13,329386 25,971,004 22,483,754 33396,041 Jan. 1/61 $12,845,580 18,562,832 20,143,562 35374,930 Jan. 3/60 $15,017,506 30,217,606 21,435,936 28,169,480 712,869 638,765 738,384 898,988 Dec. 28,'58 $16389,418 28.004,996 15,802,082 21,149,611 1,116,145 Dec. 29/57 $13,732,387 2141,,436539,,167496 20,723,796 1,069,977 Dec. 30/56 $20348,080 26,930,315 10,971,652 19,513,477 1,109,982 -- Total current ousts SPIant & equipment ---- ^Depreciation _________ Net property____ investment in forelg ODZnvestment in affIL other investments Other assets. $103,630,881 174,206,039 36,954314 37351,825 5,752329 4,601,158 203,114 4364,163 $95318,850 159,777,060 77,091,652 82.685,408 4,451,871 4,601,158 201,459 3,639,153 $87,665,288 143,094,379 68,558,999 74,535,380 3,739,222 4,601,158 171,324 3,665,954 $95,739,516 118346391 60,628,750 57,617,541 3,454,378 9,322301 161,000 1,781,740 $82,362352 122393,810 53348371 68,345,539 3,016,324 9,322,201 161,000 1,443,199 $71353.985 102.829,085 47,693376 55,135.809 724,290 9,322301 5,085309 1,075312 $79374,006 91,349,711 41373351 49,775,860 552,015 4,617393 1323,086 1,121363 Total LIABILITIES Notes & accounts payable Accrued income taxes_____ Sundry accrued liabilities Slock subscription payable (assoc.) -- $205,903,470 $8,529,648 15,909,433 9315,468 $191,397,898 $7,178,088 15,515,311 10,642302 $174,378,326 $7,696,768 13,193,548 8,457395 $168,076,376 $9372,710 13,550,215 8,047,775 $164,650315 $6,758,453 12,451376 8395,921 2436,605 $142,696,906 $5,075,879 12,402393 7,106.496 1,068,303 $137363,623 $4,973,986 17,580,650 7,158,956 Total current liabilities------------ $33,954349 $33336301 $29,347,711 $30,970,700 $29,642,255 $25,653,571 $29,713,592 MOODY'S INDUSTRIAL MANUAL 1053 I*- ^Srtstandinff. Dec. 31. 1962, M*S.?JSS7^0Or000 3%% notes arising jet- 1. 1^<4 aii.* *' oavable $1,000,000 annu- W*^???n^S3,OUO,ODO Dec. 1, 1974. . L I9*e"73hank loans, to finance con i'10 Office building and for 5*&o7ate St^oa^cash dividends on 2ste^,iro ca^ in excess of fU?of cSur5 income after Dec. 31, ^rtonsoUoated.ni permit consolidated ; i(Pcalp-iit0a?l <2to?; e s tthhaann $$4105,,000000,,000000 demptlon date) at following prices per share: 528.625 until $13,334,000 debentures are converted; thereafter $30 until $26,667,000 de bentures are converted and thereafter, $31.50. with no adjustment for interest or dividends: scrip or cash to be paid in lieu of fractional shares. Conversion privilege protected against dilution. SECURITY--Not secured: subordinated to irior payment in full of all senior debt unless t is provided that such debt is not prior In right of payment to the debentures. CREATION OF ADDITIONAL DEBT--Com pany will not create any'debt (other than the CAPITAL STOCK | L M. Lowenstein & Sons, Inc, common; par $ls AUTHORIZED--5,000,000 shares; outstanding, 2,840,661 shares; in treasury, 3,527 shares; re served for conversion of debentures, 1,333,518 shares; reserved for stock options, 150,000 shares; par $1 ($1 par shares split 2-for-l Dee. 17, 1954). At Dec. 23, 1955, Leon Lowenstein, Chair man, owned of record and beneficially 450,385 shares (16.20%); Trustees of estate of A. L. Lowenstein, owned of record 718,750 shares debentures) subordinated to senior debt un TOTIN& BIGHTS--Has one vote per dura. short-*" ffn preceding 24-month ,.In g. sons. Inc. subordinated :ij&S58w? 19818 ipI7XD-s"aooofooo; ontotanding. Dec. t J40.000.000t 1. 1956- ^^a,nss less thereafter consolidated net tangible as sets are at least 175% of consolidated funded debt. DIVIDEND RESTRICTIONS--Company may not pay cash dividends on or acquire capi)ltal stock if after giving effect thereto such pay ments and acquisitions after Jan. 1,1956 would exceed $10,000,000 plus net proceeds of stock sold after Feb. 1,1956 (Including shares issued on conversion of debentures) pltis 80% of con solidated net income after Dec. 31, 1955. At Dec. 31, 1961, $56,547 000 of consolidated earned surplus was so restricted. PREEMPTIVE RIGHTS--None. Dividend Record (in $) __ (Calendar Years) On $1 par shares: 1946-- 0.50 1947______ 230 1948_____ 335 1949-- 2.00 011950-- 2.37)6 1951-52 100 1953-- 230 1954_____ L50 On $1 par shares (after 2-for-l split)! 1954-- 0.27)6 1955___ 135 121956_ L50 1957-- 1.25 1958__ 0.70 1959_ 0.75 1960-- 1.00 1961___ 0.70 1962__nil QjAlso stock dividends; 1950, 25%; 1956, 2%. RIGHTS ON DEFAULT--In event of default DIVIDEND RESTRICTION--See Long Term Jjf ,mhoriied ^ ln part on at (90 day grace period for Interest payment; 63 day grace period for payment of sinking Debt, above. TRANSFER AND DIVIDEND DISBURSING C^j^otice at any time to Jan. 31 fund instalment), trustee or 25% of deben tures may declare principal due and payable AGENT--Morgan Guaranty Trust Co., New York. m 1964-- 10U4 1965-- 101 ffifthle on^Uke notice for sinking INDENTURE MODIFICATION -- Indenture may be modified, except as provided, with consent of 662/3% of debentures. REGISTRAR--Chase Manhattan Bank, New York, LISTED--On New York Stock Exchange. PURPOSE--Proceeds to repay 3)6% bank OFFERED--(325,000 shares) at $21 per share loans; to pay balance of purchase price of on Mar. 7,1946 by a syndicate headed by East inventories of cotton division of Pacific Mills; man. Dillon Sc Co.. New York. Offering did S^bLntoS redeemed after Feb. 1. 1966, S debentures reacquired and delivered to to redeem series A preferred stock and for other corporate purposes. not represent company financing. Stock Options held by key employees at OFFERED--($40,000,000) at 100 (proceeds to Dec. 31, 1962 on 106,610 snares at prices from rSfiVT^mSS^os onor before company, 98%) on Feb. 16, 1956 by Eastman, $18.29 to $19.95 per share expire in 1963 and Cret?br.rvL.tK1.9i6i"6 (if called, 10 davys before re- Dillon & Co., New York, and associates. 1965. OWENS-CORNING FIBERGLAS CORPORATION OAPITAL structure Times U3.NO term debt Issue ], Term loans --------. Rating 12- _ Amount Out-`--^lng $35,000,000 Charges Earned 1962 1961 2338 2030 Interest Dates Call Price Price Range 1962 1961 12- 12-- CAPITAL MUCK Issue I. Common Par Value $1 Amount Ou* - Jing 6.707,849shs. Earned per Sh. 1962 1961 $214 $213 Divs. per Sh. 1962 1961 $1.00 $1.00 Call Price Price Range 1962 1961 87%-46)& 102%-7B XPrivately held. NIITORY ^ Incorporated under Delaware laws Oct. 31, 1133, by Owens-Illinois Glass Co. and Corn ing Glass Works to continue development of fibrous glass products. On Nov. 30, 1954, Fiberglas Contracting & Supply Co. and Fiberglas Engineering & Sup ply Co., former subsidiaries, were dissolved now operated as divisions. Company's products can be classified into the foUowing five groups: (1) Fiberglas "wool" products, used for thermal insulation and acoustical applications; (2) Fiberglas tex tile products, consisting of strands, yarns and cords, used by other companies m manu facture of electrical insulation and decorative and industrial fabrics, as reinforcements for plastics, papers, twines and rubber goods and for other industrial purposes; (9) Fiberglas B. S. Wright, Vice-Pres. (Pub. Affairs) W. H. Curtiss, Jr., Vice-Pres. (Mktg.) B. E Boyd, Vice-Pres. (Mfg.), E. J. Detgen, Vice-Pres. (Home Bldg. Prod.) J. H. Thomas, Vice-Pres. & Gem Mgr., Pacific Coast Division W. J. Clark, Vice-Pres. (Fiberglas Rein forced Plastics) T. V. Fowler, Vice-Pres. (Transp. equip. UB8IDIART rihms y Lana de Vidrio Fibra-Glass S. A., fiogota, Colombia (55%)--In process of or ganization. Aerocor, an extremely light weight wool product used as an inmilatlng and sound con trol material; (4) Fiberglas filter products used in heating, air conditioning and ventilat ing systems, and in industrial processes: and INTERNATIONAL DIVISION Owens-Corning Fiberglas International, N. Y, (5) Fiberglas mat products, consisting of por ous thin sheets used principally in manufac ture of storage batteries and as protective AFFILIATES Company la affiliated with Owens-Illinois r , ? 1 and Corning Glass Works, see gen emroanl isnfdneexk,, tbh-rlonuwg).h stock ownership (see com WPa^nm? for nine* Increasing use of products Is being made in automotive industry. Including automobile bodies. Fiberglas is also used for boat hulls. PLANTS A PROPERTIES wAffiliates--Partly Owned; Company owns plants at Newark, O., Kan Canada Limited, Toronto, Canada sas City, Kan., Santa Clara, Cal., Barring of common; 50% of pfd.); plants at ton, N. J., Anderson and Aiken, S. C,, Ashton, yy--rina and Guelph, Ont. and Edmonton, R. I,, Huntingdon, Pa. and Berlin, N. J., with combined floor area of 5,380,000 sq. ft. includ Glass Company, Ltd., Tokyo, ing 153.000 sa. ft. research center at Granville. viifj rlk40%); plant at Chigasaki. Ohio. In addition 4 product and research & appliance materials) B. F. Beaman, Jr., Vice-Pres. (Advertis.) J. A Mczmy, Vice-Pres. (Nat. Acct. Rei.) S. J. Weinberg, Jr., Vice-Pres. (Fiberglas Textile Fabrics) W W Bn--I'--ictein. Vice-Pres. (Sales) Fowler Blauvelt, Vice-Pres. (Sales) R. ,. .,i\,wn Vice-Pres. (Sales) R. K. Diggers, Vice-Pres. (Sales) G. O. Mabry, Vice-Pres. (Sales) F. L. Purtill, Vice-Pres. _ (Pacific Coast Dlv.) _ _ D. W. Ladd. Vice-Pres. (Ind. & Com. Const. Mat.) C. G. Staelin, Secretary C. F. Scarbrough, Treasurer __ H. M. Cranston, Compt. Sc Asst. Treas. Frederick Kiel Assistant Treasurer A. C. Freligh, Assistant Treasurer t J. W. Overman, Assistant Secretary T. R. Vogt, Assistant Secretary n Mexico City. Mexico City (40%); plant laboratories are connected with the Anderson, Ashton, Newark and Santa Clara plants. rfnwa!ian, ^re Glass Pty. Ltd., Sydney N11 7 ' plants at Melbourne and Sydney. MTHofllfedo j.lup5c>ecof}a_nd sales offices in principal Fibre Glass Ltd. (wholly-owned Affiliate Plants: See Affiliates above. ?7 libre Glass), Auckland; plant ^SlAUckiBnd. Company has 38 supply and contracting lo cations and 69 sales offices throughout the Sotrth Africa Pty. Ltd.. Johaimes- U. S. hesifwg)5^ : plant at Springs (near Johan- Capital Expenditures: 1962, $14,800,000; 1961, H. H. Keech, Asst. Treas. & Asst Se Directors: Harold Boeschensteln J. E. Blerwirth L. W. Cabot J. M. Kemper D. W. Malott H. J. Morgens H. C. Nolen Scandtaavlkn Glasfiber AB, Vastexas. Sweden $7300.000. Projected outlays far 1963, about $25,000,000. (40%); plant at Falkenberg. BU8INES8 PR0DUCT8 MANAGEMENT Officers: ' 1 'nT mEJSSfiV is engaged in development and Harold Boeschensteln. President Shut/,?k s, o*nbrous glass products, dis- H. R. Winkle. Exec. Vice-Pres. (Finance) Gen. Lauris Norstad H. R. Winkle Auditors: Arthur Andersen & Co. Annual M--*:--: Third Thursday in Apr. No, of Stockholders: Dec. 31, 1962, 9,197. No. of Employees: 1962 (average), 10,672. h. iis own sales organization which Gen. Lauris Norstad. Pres. Owens-Coming General Offices: National Bank Bldg., To SB tte0Ugh* Fiberglas International Games Slayter, Vice-Pres. (Research) ledo i, O. New York OfHCfi: 717 Fifth Ave. INQOMI accounts get sale* ______ * develT'expenses --I COMPARATIVE INCOME ACCOUNT, YEARS ENDED DEC. 31 121962 11961. 0i96O 01959 $253,258,218 0,262 $218,178,030 $211,335,854 $176,771,484 187338,241 165,643,964 156,747,513 149,688,870 128.915.397 6,627,501 5,827,158 5382,477 4,186,720 3,866,474 19312,419 16,954,972 16,348,336 16,299330 14,024,298 10,084,171 9,674,417 9,419,304 8,066,278 6,482,613 01957 $163,327,463 122,435,933 3,544,759 11,764,669 6,642,982 $173,064,737 127,225,796 3,740856 12,483.219 6,867,828 Bother lncatne"'(netj" Totfil lasimif _ 29,995,888 2,816,769 dr 1,428369 31383,788 28,839,751 2,353,863 dr 1,372,6941 29,820,920 30,279,900 2432,248 dr 819356 " 31392,892 33,094,356 1,991,366 dr 1,014,791 34.070,931 23.482.397 1,475,601 dr 800,873 24,157,123 18,939,124 lU04.881 dT 336,351 20.007,654 8,747838 1,135,258 dr 483,666 23,399,130 2870 MOODY'S INDUSTRIAL MANUAL consecutive calendar months within 18 months Capital Stock: 1. Dominion Dairies Ltd, 5% TRANSFER AGENT. REGISTRAR in. immediately preceding are at least twice an* non-cumulatlve preferred; par 535: ^ nual Interest on all bonds to be outstanding. DIVIDEND RESTRICTION--Company will not AUTHORIZED--40,000 shares; Issued and out standing, 32,500 shares; par $35. Co., Montreal. Toronto and WimSS? PURPOSE--Issued undST Sennit any dividends to be declared or paid National Dairy Products Corp. owns over plan declared operative March 29 ! then net current assets (as defined! are, or 80% of stock. PRICE RANGE-- 1962 1961 I960 ~Yo would thereby become, less than $400,000. DIVIDENDS--Initial dividend of 44 cents paid Earned surplus at Dec. 29, 1962 ($2,796,910) July 15,1944. Regular dividends paid quarterly LHoigwh------------------------------ 2390)4 2228)4 2247))24 25)S ``S* fully restricted. thereafter Jan. 15. etc., to Jan. 15. 1952. incL. 2. Dominion Dairies, Ltd. connur 17 PURPOSE--Net proceeds, series A. together 1953 to 1958, none; 1959, $1.32; 1960, $1.75; 1961, AUTHORIZED--1,500.000 sharer with other funds, used to retire first 6s, 1943 $1.31; 1962, $1.75; 1963 (to Apr. 11) $0.87. 503.659 shares; no par. * V5tajTMOg. series, due 1957, and general 6s, due 1957. Series B, to pay off bank loan Incurred for VOTING RIGHTS--Has one vote per share. Consent of holders of two-thirds of pre 8No0par sh^areirsys^plriot d3u-cfoter-l<N*o**v in ism purpose of nnnnHng the purchase of five ferred is necessary to alter or change rights Independently owned dairy and ice cream businesses. TAX STATUS--No provision far assumption or refund of any taxes. LEGAL--In opinion of counsel, for companies registered under Canadian and British insur ance companies act, 1932 (Dominion) as amended. OFFERED--($2,750,000) in Canada at 101 fOr and preferences of preferred, or Increase authorised preferred. LIQUIDATION RIGHTS--On liquidation en titled. before distribution to common, to paidup capltaLplus dividends. CAT.1.ABLE--As a whole or In part, at any time on at least 30 days' notice at paid-up capital value. Callable at a premium of $290 per share in the event stock la redeemed In DIVIDENDS--(calendar years): v- 1948-- $0.25 1949-- $097)4 1950 1951-- 0.12% 1952-58 nil toS-- 10 1960 0.40 1961-62 nil -- VOTING RIGHTS--Has one vote per a)m_ ' PURPOSE--Issued under aiwSSffi. plan declared operative March 29. mi*aao LISTED--On Montreal and TenmtDStock r,r the 4s, due 1966, on May 22. 1946 by Nesbitt Thomson & Co., Ltd., Montreal and ($250,000) addition to the amount of capital paid there on. TRANSFER AGENT -- REGISTRAR DIVIDEND DISBURSING AGENT-- in. 4s, series B, due 1966 in Oct, 1946. Company may also purchase shares in the Trust Co.. Montreal. Toronto and 0PRICE RANGE--1962 High 95)4 Low 93 1961 1960 93 93)4 91 80 1959 1958 90 83)4 81 81)4 open market at not exceeding redemption price. LISTED--On Montreal and Toronto Stock Ex PRICE RANGE-- High__________ Low 13 1962 1961 1960 iggBnfe- 13% 13% lSS311?? 10 9% Sit *8 HICanadian funds. First 4s. 1966. changes. HAfter stock split; before, 15)4-6%. * OAPITAL 8TRU0TURE LONG TERM DEBT Issue 1. Promissory notes___ ---- 2. Debenture 3)4s. due 1988 __ 3. Foreign subs, debt, 1962-71 CAPITAL STOCK. Issue 1. 4% cum. preferred 2. Common _____________ ___ _ OWENS-ILLINOIS Bating ffl-- Par Value $100 695 Amount Outstanding $46,000,000) 48,000,000) 2,451,982j Amount Outstanding 813,721 sha. 7910,310 aha. GLASS COMPANY Times Charges Earned 1962 1961 Interest Dates 1698 1797 |j&d1 Earned per Sh. 1962 1961 $40.75 $41.75 4.09 49S Diva, per Sh. 1962 1961 $4.00 . $4.00 . 290 290 rwn Price 010490 "cau" Price 0104.00 11% 19P6r2ice Range : 115-99% 120%-106 ' 86-64 104 - 83% EPrivately held. 0Subject to change--see text. HI8TORY Incorporated in Ohio, Dee. 16, 1907 aa Tha 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 17m Owens Bottle Co Apr. 9^1919 and to Owens-Illinola Glass Co. Apr. 17, Owens-Illinois Inter-America Corp. (Ohio)-- Sells company preduets in Western Hemis phere outside of the U. S. Owens-Illinois Silica Co. (Mich.) Owens-Illinois Thinlite, Inc. (Ohio) Marinette, Tomahawk & Western RB. Co. (Wise)--(see Moody's Transportation Man ual). tains; cut and engraved glassware. Alsomak** tumblers used as jars for packing food mud. ucts, "melamine" plastic dlnnerware. Forest Products Division--Makes wide lfci of corrugated and solid shipping hirw. iSS paper bags for sale to others. -. , rT Blown and Tubular Products DivisionManufactures glass tubing rod hm png. For subsequent acquisitions, see Moody's 1948 and 1949 Industrial Manuals. In 1951 company purchased Samerle, Inc., Rlverdale, N. J., manufacturer of thermo plastic caps and closures for glass and metal containers and plastic articles. On Apr. L 1952 company sold American Coating Mills division to Robert Gair Co lne., for $6,170,190 and 400,000 shares of Galr common stock. Transaction Involved paperboard mills at Elkhart. Ind., and Middletown, O., and carton plants at Elkhart, Chicago and Grand Rapids, On Dec. 16, 1952, formed Owens-Illinois Inter-America Carp., wholly-owned. On Sept 16, 1953, acquired 50% Interest in Flax Corporation (DeL), from Emhart Manu facturing Co. at a cost of $8,000,000 (sold In 1957). On Oct 4, 1956, merged National Container Corn. (Del.); reincorporated In Ohio and op erated aa a subsidiary. Under the plan each cshoamrme oonf s$h1a00re4w%aspreexfechrraendg1eadndfoor noen-feo-ufirftthh common share and each preferred share for 352/1000 of a preferred share and 44/100 of a common share. Exchange required 822,991 pre ferred shares and 1,028939 common shares. Company's Kaylo Division, manufacturing a fireproof Insulating hydrous calcium sili cate material, was sold to Owens-Cornlng Fiberglas Corp. in May, 1958. In Sept., 1959, properties and Inventories of Forest Products Corp. (formerly Northeast ern Container Corp.) (Fa.) O-I Services. Inc. (Ohio) O-I Timber Corp. (Wise.) National Container Corp. of California (Cal.) Valdosta Southern HR. Co. (Fla.) Owens-Illinois de Venezuela, CA. (Venezuela) Owens-Illinois of Canada Ltd. (Canada) Owens-Illinois of the Bahamas, Ltd. (Ba hamas) Durobar SA. (Belgium) Owens-Illinois International SA. (Switzer land, Panama and Colombia) Other Investments: As of Dec. 31, 1962, Owens-Illinois Glass Co. owned 21399,927 common shares (about 331/3%) of OwensComing Fiberglas Corn, (see general Index). Amount Includes 854,407 shares reserved for exchange--see 4% preferred, below. Also owned 334,813 common shares of Con tinental Can Co. held in voting trust. Also owned 120,000 shares of Container Corp. of America (see general index), 358826 shares of Monsanto Chemical Co. (see general index) and 74,428 shares of' Pennsylvania Glass Sand Corp. (see general index). Company also has majority interest in Actlen-GeseUschaft der Gerresneimer Glashuttenwerke vorm. Fend. Heye (Germany) and Compagnle Internationale de Gobeleterie Inebrechable, S. A. "Dumber" (Belgium); and minority Interest in Companhia Industrial Sao Paulo E Rio "Cisper" (Brazil). ucts made from them, including ampuls, vials, syringe cartridges, etc. Industrial and Electronics Products Divi sion--Manufactures and sells glass television bulbs, bulbs for power and X-ray tubes for special electronic devices, glass-metal assemblies, sintered glass products, ala-- block, and communication Insulators, International Division--The division handles all company business outside the Continental United States, including sales, manufacturing, investments, licensing, and sale or lease of machinery and equipment. Is also responsible for operations of Owens-Illinois Inter-Amer ica Corp. which sells company's products In Western Hemisphere outside of the United States, and for Owens-Illinois of Panama a.A which has responsibility for investment* In Central and South American countries. PRINCIPAL PLANT8 A PROPERTIES Operating facilities are located as follows: Alton. HL Lake City, Pa. Atlanta, Ga. Lg. Island, City, N. Y, Aurora, Ind. Los Angeles. CaL Baltimore, Md. Big Island. Va. Madison, HL ypmpMa, TemL Bradford^Pa. ^ Miami, Fla. - - -- Milwaukee, Wise. ' r Minneapolis, Mhm. 1 Brockport" N. Y. Munde. Ind. Charleston. W. Va. New Orlean Charlotte, Mich. Newark, N. Charlotte, N. C. Nerwburypoi Owens-Illinois Plywood, Inc. (Vt.) were sold to Roddis Plywood Corp. and subsidiary liquidated. Also in 1959, company liquidated Glasco Products Co. (HL), National Container Corp. of Mich. (Mich.), and Toledo Automatic Brush Machine Co. (Ohio), former subsidi aries. Also formed Bristol Paper Products Corp. (Pa.) and Northeastern Container Corp. (Pal), aa wholly-owned subsidiaries. On Nov. 2. 1959, acquired entire capital stock of Key stone Brass Works (Pa.) for 19,459 common Shares; renamed Llbbey Plastics, Inc., a wholly-owned subsidiary. In 1961 company jointly with National Dis tillers and Chemical Corp. formed National Petro Chemicals Corp. New company is build ing plant at Houston for manufacture of high-density polyethylene. In Nov. 1961 acquired plant in Newburyport, Mass, for manufacture of blown high-density polyethylene bottles. 8UB8IDIARIE8 Company is primarily an operating com pany. On Dec. 31, 1962, held 100% voting power in the following subsidiaries; Name, place of incorporation aim business: Closing Machines, Inc. (Ohio) BU8INE88 AND PRODUCT8 The general organization is composed of an administrative division and several operating divisions and subsidiaries. 01lass Container part of company's business, with manufacb_ ing plants located to serve all sections of the country. Operates container factories and sales offices east of the Rocky Mountains. Products Include glass containers sold under the trade-mark Duraglas. These are used for packaging prepared and processed food, me dicinal, health, dairy, household, toiletry and cosmetic products, beer, carbonated bev erages, liquor and wine. Major plants of this division also produce corrugated shipping cases for their own use. Pacific Coast Division--Independent op erating division with glass container fac tories, sand plants, closure plant, and sales offices, located west of the Rocky Mountains. Operations In the West parallel those of Glass Container Division in the East Closure Division--Manufactures metal and plastic closures and plastic fitments for glass containers. Plastic Products Division--Manufactures blown and pressed plastic containers and Chicago, 111. North Berg? Chicago Heights. HL No. Kansas * Cincinnati. O. Oakland. CaL City of Industry, CaL Pacific Grove, CaL Clarion, Pa. Portland, Ore. _ * Columbus, O. Rlverdale, H. 1, Corona. CaL St Charles. HL - Dallas, Tex. Salisbury/N. C. . Detroit, Mich. San Jose. CaL Durham, N. C. St. Louis, Mo. - _ - Fairmont W. Va. Flint Mich. So. Rockwood, Mien. Streator, HL Gas City, Ind. Toledo, O. Glassboro. N. J. Tomahawk, Visa - , Godfrey, HL Toronto. Can. Huntington. W. Va. Tracy, CaL Valencia! Venezuela Jacksonville. Fla. Jaite, O. Vineland. N. J. , Jersey City, N. J. Waco, TCx.- - Kannunscaiso CWiithyj,i MmLoU<. WW(aUrosdaWw. *I*n*<d--. . a_. Fourteen factories of foreign companies, m which company holds a majority interest, are located as follows; Germany (9), Belglumlsl* and one each in Switzerland, Brazil, Venezuela and Colombia. __ Company has. in West Virginia, an ug- divided half interest in 155,783 acres offfl; rights, on which there are 699 producing,weus Llbbey Plastics. Inc. (Pa.) other plastic products. supplying gas requirements of Charleston ^ Kimble Glass Co. (Ohio)--Television bulbs, Llbbey Clan Division--Produces Llbbey plant - " j Elsas tubing and rod, laboratory appara Safedge glass tumblers, stemware, and ta Company owns or leases 1,100,000 acres tus, glass block, insulators an' --*--------ecus presssd glass articles. bleware for the retail trade and far hotels, restaurants, cafes, dubs, bars and soda foun- ttthnnhbgemrlna-nds in Fla., Ga., Mich., Va., W- . , 3S MOODY'S INDUSTRIAL MANUAL **rr management j!*I?*Levis, Chmn. of Bd. & Exec. Com. & Chief Exec. Off. _ __ R. H. Mulford, Pres. & Chief Oper. Off. H. C. Laughlin, Exec. Vice-President S. L. Rairdon, Exec. Vice-President B. E. Graham, Exec. Vice-President A. M. Turner, Exec. Vice-President C. G. Bensinger, Vice-President G. S. Babcock, Vice-President O. G. Burch. Vice-President E. D. Dodd, Vice-President H. S. Wade, Vice-President W. J. Stewart, Vice-President P. W. Hancock, Vice-Pres. & Treas. M. G. Beishiine, Vice-President P. M. Canter. Vice-President S. F. Davfs, Vice-President W. B. Owen, Vice-President E. R. Owens, Vice-President C. E. Babbs, Secretary W. F. spengler, Jr., comptroller Directors E. C. Arbuckle C. G. Bensinger, Toledo EH. E. Collin, Toledo R. E. Graham A. J. Hettinger. Jr., New York J. A. Hill, Hartford, Conn. C. E. Janssen, Brussels, Belgium H. C. Laughlin, Toledo EJ. P. Levis, Toledo ER. H. Levis, Toledo G, P. MacNichol, jr,, Toledo B. H. Mulford :Jc`-,/llrdon fVias*-**-SSt.Wt Audltorst Arthhu.rsr.gca A ^I General Couaset; Pnv faJW j aAtnndu*ail,M%su'8O^aw -: --> VSwne**? * , -ss.rwa*wd. ------------^ No. of KmpiejrtME 3*. ** *** General son Ave,, m-, Toledo n., o' Ifflr** *** INCOME accounts COMPARATIVE CONSOLIDATED INCOME ACCOUNT, YEAHS ENDED D*c. n (1962 figures from. _re-p--o--r-t--t-o---s--t-o-ckhlvoOlAders; jfet sales St other operating rev.----- $627,766,444 mfflCost of sales, royalties paid, etc-- 511,513387 |Selling, general St adm. expenses. prior years from E1961 $596,424,616 480,474,567 repEo1rt9s6^0filed $561,042319 447,018,037 56,514,281 with^1S95e9curitieo undtK*c^ ItKA $552,676,933 $5IWAM,n 420,919,431 53,425,878 49,a-)W_ C- Operating profit____ ____________ Dividends received __ -___ _________ Interest received-------------------------Miscellaneous other income________ 56,473,655 3,770,729 1,017,820 2,505,811 57,058,027 3,641,048 1,895,775 3,697,073 57,510,001 3,663,415 2,166,035 1372,971 78331,624 2,938,575 1374345 1314,553 63,297/477 iuatxi \mza Street Total provision for bad debts Interest expense_____________ _____ Sundry expenses & losses (net)------- 63,768,015 37865,797 842,046 66391,923 278,126 3,733,975 420,911 65,012,422 81,754 3,474,236 169,327 84,759,297 42,508 3381,940 1,103,495 li,H4,)7! 280M2 3/;.m \imm Total Income before taxes________ (^Provision for Federal Income tax..) niState & foreign income taxesj Net income__ ^Special item. 59,060,172 25,900,000 33460,172 61.858,911 |27300,000 34,358,911 61387,105 28400,000 33487405 3,747422 80,031354 39300,000 40331354 crWmj* rasAa* Sjj5 "aSiiiS Net Income to surplus fSEamed surplus beginning of year.. ^Surplus credits_________________ "Preferred dividends_____________ `iCommon dividends______________ QStock dividends mother surplus debits___ ______ __ 33,160,172 198,387,434 3378,184 18372,806 34,358,911 184,517,247 1,047,088 3,291,724 18344,088 ____ __ 29,439,983 176,577390 3391,864 18,208,462 _______ 40331354 156336317 3391364 17398,317 tsf mm (HEarned surplus, end of year__ SUPPLEMENTARY P. & L. DATA Deprec., depL St amortization__ __ Molds charged to expense Maintenance St repairs (ETaxea (other than incoma)____ Bents___ Royalties . $209,996,616 $25,986,949 11,173,897 33,068,088 17,484,388 4,208,112 486,226 $198,387,434 $184,517347 $22,725,692 10,297,399 31,092,212 5,498,155 3386,325 592,472 $19,490,367 11,402,208 31,463,059 14,409,221 3,682,040 1,221,046 $176,577,590 $17,689,496 278,344747,391808 12391398 3328,139 1,148383 w *SIS 0Includes foreign subsidiaries not previ ously consolidated. 1_9_5_7_: Includes $1,040,000 deferred_in_c_o__m_e_ taxes provided in amounts equal to reduction 01956: 1/V'fcsfes Container *3 aAdjusted to include foreign subsidiaries: in current taxes due to excess of accelerated 01956: Net sales, $569,395,656; net income, $33,793,411; amortization over book depreciation. on Ni " retained earnings, $185,564,335. SIncludes payroll taxes (1962, $9,636,080). MNo depreciation la provided on molds. The amount at which molds are carried in Naair week fbndsitf ?*** pSg-ES'tS'S^ -- with ISCost of sales and other operating expenses the company's accounts represents the value (including depreciation, depletion and amor thereof at Dec. 31, 1930 as determined by in above. tization: 1962, $25,986,949; 1961, $21,302,449; 1960, dependent appraisal plus (a) certain additions 518,213,882; 1959, $16,941,544; 1958, $17,611,938; for molds acquired from companies whose as E11960: Urn <m. r 1957, $16,915,723; 1956, $15,120,935; and research sets were purchased and (b) additions and engineering expenses: 1962. $16,179,716; molds far new products, minus (e) r~ in^irovision Ujt jeaeaL 1961, $13,915370; 1960, $13,165,747; 1959, $12,321,- specifleatly allocated to plants sold in 631; 1958, $11,747,430; 1957, $12,700,246; 1956, $11,- entirety. AH other new molds or i J858; Gfcfn **% 350.433). ^Includes related portions of items shown placements are charged to expense. 01956: $100,095,114 Owens-Illinois (Rasa Co. or^ntSTsSt^^. Older ''Supplementary P. & L. Data" below and $36,776,499 National Container Corp.; to itatement tal, $136,871,813. *fcVW A NO JDAt Dec. 31, 1962, $73,375,000 of earned sur plus was restricted as to cash dividends on 01961: Retained earnings of foreign sub sidiaries not previously consolidated. common stock. 01956: Transfer from equity in surplus Of ^Includes, for entire year, operations of national Container Corp., merged Oct. 4,1956. B1962: See under Depreciation Policy below. m1e3n6t1s:. Includes $1,290,000 prior years adjust non-consolidated on acquisition of minority interest by National Container Corn. 01956: On National Container Corp. pre ferred prior to Oct. 5,1956, $214,755; on OwensIllinois Glass Co. preferred_subsequent to Oct. 4, 1956, $787,191; total, $1,001,946. Total ssTstIm 1961, $246 232,0puTl9S8, KKjssjmt Recant Tme?ar 1943 uu~ of Earnings, years ,, ._ , Net Sales 132,230.527 172.132,405 174,584,341 amtsd Dee. CExopsetannseds 121323312 141,253,591 M7,865,927 31(O1 perating Profit 30.707,213 30,878,814 26,718,414 5S=-- 168,671442 143,385,130 196,259.500 175,461,800 25,286,012 20,797,700 S---1949 1IS35j0J. 1952 ---------933.;;:-- 231,310.180 224,396,075 223,826,827 289,942,898 309,774,611 293,181,523 333,024,055 208,518,441 206394.545 196.390,482 242,189,287 261,137,647 263,211,768 294,764,461 22,791,739 18.101330 27,436,345 47,753,611 48,636,964 29,969,755 38,259,594 .955 336,708,809 294,867,370 370,347,666 317,349,286 41,841,439 52,998,380 495,974,236 425,070,512 70303,724 Oth. hoc. St Ded.f Net) 6 8,085,936 d 3385,871 d 9,008,938 1,422.842 335,237 d 3,243 d 419,555 d 1,540,529 d 559,610 d 186,348 3,596,066 d 3,086,208 597,526 1,123,930 1335,494 Inc. Bef. Taxes 27,621,279 27,292,943 23,709,478 26,708,854 21,132,937 22,788,496 17,681,973 25,895,816 47,194,001 48,450,616 33,565,821 35,173,386 42,438,965 54,122316 72,139313 Income Taxes 18,428,731 17314346 15374,122 117,915,047 7,886.104 8329,065 7355300 9,458,000 22375.000 31.428.000 17.365.000 18.906.000 20300.000 27.100.000 36.790.000 Net Tiwmwa 9,194,50 8378397 8,1353(4 8,793,807 13348333 13,959,431 10326,175 16,437,816 24,319,001 17322316 16300,821 16,267,386 21338,965 27,022310 35349315 0After renegotiation, $3.43 per share. UN0E?EET8 ^ COMPARAITVE CONSOLIDATED BALANCE SHEET, AS OF DEC. 21 (1962 figures from report to stockholders; prior years from reports filed with Securities and ---- - - Assets ,, on hand St demand deposits----- r,?- Govt. & short-term securities -- ` tj^ketable securities (cost)--------- & accounts receivable (net)-- jSjosidiaries cons. & other--------------- tSw materials inventory----------- .R ?eprkaiidn process & expenses fin. goods-------- 1962 $2244,,170217,,672147 20,777,414 58,916,793 287164362 59,466,497 2,806,403 H1961 $27,281,143 29,805,360 20,774,746 56,176,892 3,136,409 22,836,639 63,244,759 2,569,751 1960 .$2..5..,.3..8.9..,.3..2.5... 41,868,752 20,782,142 51,174380 _______ 28,215,564 53,587,817 2,524386 1959 list**31* .$.2..5.,.2..1..3.,.1..9..5............ ^ 63,343.180 20,789,566 44,987,744 _______ 29,276,270 46,967,319 2329,685 273&.W 4832; 1SL ZUm 53* a_sa *Jfotai eaiiwt assets------- -------- Sr'her security investments (cost)-- in St adv. to fgn. subs. <lnveat. in other fgn. companies---- $218,961,010 3,458,072 24,428,432 10,389,431 $225,825,699 1,775,880 13,619,977 $223,542,266 1,629,541 20.823.630 10,963,700 $232,806,959 1,683399 21,098,669 4,005,522 $2ilSe3@?7h*i C=-M$ JU9d3 i