Document ppBKvDXObrkZX89vRep8a8opX

1064 MOODY'S MANUAL OF INVESTMENTS &7 3. Itaucd, 11,800.000; outstanding, Dec. 31,' 1946. $1,800,000. Due $112,100 each J&D 1 to Dec. 1, 1954, lncl. Interest at 2,.i%. payable J&D 1. Prepayable at a premium (amount not stated). Unsecured. Issued In Dec., 1940; proceeds, together with proceeds from sale ot additional common stock, used to provide additional working capital end tor property rehabilitation ana Improvement. Real Estate Obligations: There were also outstanding at Dec. 31. 1946, $294,953 real es tate obligations ot Rexall Drug Co., secured by properties carried at depreciated amount of $438,000. OAPITAL 8TOCK of United Drug Co. (Mass.) from 1917 to 1928, sco Moody's 1939 Industrial Manual. VOTING RIGHTS--One vote per share. DIVIDEND LIMITATION-- See funded debt PREEMPTIVE RIGHTS--Nona. LISTED--On New York, Boston and Los An geles Stock Exchanges. TRANSFER AGENTS--Guaranty Trust Co. of New York, New York, State Street Trust Com- any, Boston, and Bank of America N. T. Sc . A., Los Angeles. REGISTRARS--Chase National Bank.. New York, National Shawmut Bank of Boston, Boston, and California Trust Co.. Los Angeles. DIVIDEND DISBURSING AGENT--Guaranty Trust Co., New York. Stock Options: On Feb. 16.1944. United Drug Co. (now Rexall Drug Co.) granted options to purchase common stock of United Drug, Inc. (now Rexall Drug, Inc.) at $12.75 per share to officers and directors as follows: A. C. Bond. 4.000 shares; J. W. Dart, 15,000 shares; W. F. Davis. 5,000 shares: E. J. Grifffng, 1.000 shares: F. T. Lane, 5,000 shares; L W. Smcad. 5,000 shares; N. L. Vermilya, 1,000 shares and on Apr. 19. 1944, 5.000 shares to G. S. Culver. The options run in Instalments to Mar. 1, 1953. On Dec. 26. 1944. J. W. Dart exercised options to the extent of 500 shares. In Dec. 1945 options were exercised to ex tent of 17,300 shares as follows: J. W. Dart, 5,500 shares; W. F. Davis, Jr., S. J. Dow, Jr,, 1. Rexall Drug, Inc., stock; par $2.50: PURPOSE--Proceeds from sale of 700,000 F. T. Lane and I. W. Smead, 2,000 shares each; AUTHORIZED -- 5.000.000 shares (Increased shares issued In June, 1946. used for expan I. C. Bond. 1.600 shares; G. 3. Culver. 1,000 from 1.400.560 shares. May 14. 1946); issued, sion. modernization of facilities and additional shares and E. J. Grilling, H. L. Hagan and N. L. 3,501.120 9hares: acquired and held by Rexall working capital. Vermilya, 400 shares each being all the shares Drug Co. (a subsidiary) 41.956 shares: out ISSUED--To holders of Drug, Inc. stock on for which options could be exercised prior to standing. 3,459,164 shares; par $2.50 (changed the basis of 4 shares of this Issue together with Mar. 1, 1946. , v- from $5 May 14, 1946, two $2.50 shares issued stock of other subsidiaries senegated from In Mar. and May. 1946 options to the extent lor each $5 share). Drug, Inc. for each 10 shares oi f Drug Inc. (see of 10,200 shares were exercised as follows: Dividend Record "History"). J. W. Dart, 3,000 shares: G. S. Culver, 2,000 (On $5 par shares) 1933-35 Nil 1936__ $0.75 1937___$0.50 1938-46 NU (On $2.50 par shares) 1946... Nil CD 1947 0.25 ETo April 3. Note: For record of dividends paid on stock OFFERED--(700.000 shares) at $16,875 per share June 18. 1946. by a syndicate headed by Dillon. Read & Co.. New York; proceeds to company, $16,125 per share. PRICE RANGE-- 0)1946 1945 1944 Stock_________ 18%-9% 29%-15% 17 Vi-12 Va 0)After stock split; before, 38U-25%. shares; W. F. Davis. Jr.. S. J. Dow, Jr.. F. T. Lane and I. W. Smead. 1,000 shares each; A. C. Bond, 800 shares and E. J. Grilling and H. L. Hagan, 200 shares each. On Mar. 1, 1947. options to purchase 8,400 shares were exercised, leaving options to pur chase 28.400 $2.50 par shares at $6,375 per share. UNITED STATES GYPSUM COMPANY CAPITAL STRUCTURE CAPITAL STOCK Issue 1. 7% cumulative preferred__________ _ 2. Common Par Value $100 20 Amount Outstanding 78422 shs. 1498,431 Shs. Earned per Sh. 1946 1945 $158.70 $55.64 9.90 3.18 Diva. per Sh. 1946 1945 $7.00 $7.00 3.00 2.00 Call Price N.C. ___ Price Range 1946 1932-46 205-187 Vi 205-84% 132- 93 137-10% HISTORY Incorporated In Illinois Aug. 12, 1920. under the name U. S. G. Co., which was changed to the present title on Aug. 26. Company was originally formed In New Jersey as United States Gypsum Co. on Dec. 27,. 1901, merging a number of gypsum companuiees,. Iin Jjaaun., 1is9i2s4., BUSINES8 A PRODUCTS This is the largest producer of gypsum and allied products in the Umted States. Gypsum is a mineral rock which Is extracted by min ing or quarrying, and which is subsequently processed by crushing, grinding and heating. TiiihBerBressuunltauntiipurwouducutuIfsl vec-ryy extensivcel,y uwsewd borough which supplement substantial de posits owned in fee. The paper mill plants, all owned In fee, are located at: Gypsum, Ohio Oakmont. Pa. No. Kansas WCity, Mo. _~rrnnOnn,, li,asd i South Gate. Calif. EJersey City, N. J. acquired the plant of J. B. King Sc Co.. Staten in the manufacture of building materials. the Dnoer used Island. N. Y. In Dec., 1929, acquired the plant Gypsum products of the company Include: E ohSter^fSd and business of Niagara Gypsum Co.. Oak&eld, Crushed gypsum, agricultural gypsum and f5neg and Telt fo^asphalt roofing Pl `in 1930 acquired the metal lath and sash divi- Gypsum^mc^ for industrial and mixing plant 0Jnhe^^Pt`TocaPtedPaTeS "d ptaBto> Warren. Far- &W<!&rio nam Cheshire Lime Co., Farnams, Mass.; the colored finishes and #ew Braunfels, Tex. business of Farnam Cheshire Lime Sales Co.. _ "-cenes cement, The expanded metal and allied metal prod- Jnc.j N. Yu the jnetal^ lath business^of Northwestern Expanded Metal Co., with plant at nCLhilAcMagjtfoA, 1T1111 .; a pl1a_ _nAt o- if AA me--riJc__a__n_V*W, 1eJldingA& Gypttsinleem hboSaSrdd, _ sheathing: 'Plani5: owned in Chicago. 111. ___ . j- The asphalt roofing fee., are located at: Warren. Ohio products plants are lo- Manufacturing Co., at Warren. Ohio; the prop- Gyp,s,Vin and floor cated at: erties of Greenville Insulating Board Corp., at Greenville, Miss.: and through the Canadian subsidiary acquired Albert Manufacturing Co., Hillsborough, N. B. *fle- and gypsum insulation fill. __ Plasters and tile for correction of acoustics, and a system of sound insulation for walls and floors; . Cm^"oyn^&Fsro02ri^^^^:and mjersev City N. J. Tonawanda N. Y. S- ou* t-h B-end.. _In*d.. South Gate. Cal. EOn leased land. St. Paul. Minn. Mount Dennis. Ont, Canada uIie company McHenryMijlhouse Manufacturing Co., at South Bend, Ind.. and on Aug. 21, 1933. the roofing plant of the SiFo Products Co. at St. Paul. Minne sota. In Feb.. 1934. purchased the SiFo roof ing plant at North Tonawanda, N. Y. In Aug., 1934, purchased the roofing plant of the Star Roof Corp. at Los Angeles. Calif.; in Get., 1934, the lime properties at New Brauntels, Tex., formerly owned by Dittlinger Lime Co., and in Nov.. 1934. the Insulation board iant formerly owned by the Arborlte Co., ic.. at Lisbon Falls. Me. gj In July, 1935, company's subsidiary. Cana- dian Gypsum Co.. Ltd., acquired Toronto Asphalt Roofing Manufacturing Co., Ltd-, with a plant at Toronto, Ontario Can ti. la,c ___" , chased the lime All types of expanded metal and metal lath are manufactured, also metal specialties; paint products include texture paints of vari ous types, glazes, sizes and accessories, cold water paint, stucco paint and light proof colors; Asphalt shingles and roll roofing; asphalt and tar saturated felts, and asphalt roof coat i_n_g_s__a__n_d. ceme__n_t_s; Asbestos cement shingles; Other products Include exterior stucco base and colored finish coats, wallboard joint systems and joint fillers; Products also include Insulation lath, wall- boafd "d sheathing, and hardboard. The company owns a number of patents on itsnroducts. The company operates 38 district sales of- fices throughout the United States and eastern Canada and maintains a large personnel of A few small buildings at South Bend ars leased, plants otherwise being owned In tee. The Insulating board plants, owned in fee. are located at:. Greenville. Miss. Lisbon Falls, Me. The paint plants, owned In fee are located at Gypsum. Ohio: New Brighton, N. Y.: and South Gate. Calif. An insulating wool plant, owned In fee. Is located at Weston. Ontario. An asbestos-cement shinele plant, owned In fee; is located at East Chicago. Ind. At Dec. 31. 1946. company had under con struction paper and felt plants at South Gate. Cal., and in Clark Township. N. J.. gypsum lants at Plaster City. Cal., Norfolk, Va., and igurd. Utah, and two ships. MANAGEMENT lwashrtml0tt?^S^5,0<'w!]!ie P' `IliBossburg, salesmen and sales engineers who contact Officers a , Jersey. City properties of Na- dealers, architects, contractors and builders, Sewell L. Avery. Chairman ring Co. L O. M. Knode, Chairman. Exec. Comm. mill of Val W. L. Keady, President nr-npr,,, 136. BL'*T`Vk" *nree warenouses, pencils an economical ais- at'sia.jniTTt?h Jttmbo Plaster * Cement Co. tributing system. The products are sold, so J. H. Nold. Vice President E. Rembert, Vice-President al &18Jtra' utan- far as possible, through dealer distributors. T. R. Parrish, Vice-President oMorck^fwksttlr^Sy SnSdlSo^ PRINC'PAL PLANTS A PROPERTIES J. P. Sanger. Vice-President A. F. King. Vice-President sum Co.. Ltd., company's subsidiary. The principal gypsum properties and plants H. F. Sadler. Vice-President In Sept., 1938 plant site at Jacksonville. Fla.. was purchased, and in Dec.. 1938. company acquired property and business of Nepbl Plas ter & Manufacturing Co. at Nephi. Utah. Detroit. "Mmic**h-. East Chicago. Ind. In July, 1945, purchased plant of Pacific Fort Dodge, Iowa Portland Cement Co. at Plaster City, Calif. EGrand Rapids. New Brighton. S. L, N. Y. Oakfield. N. Y. Philadelphia, Pa. Plaster City. Calif. Plasterco, Ve. Otis Wack, Vice-President C. H. Shaver, Secretary and Treasure) Directors Sewell L. Avery, Chicago Waldo A. Avery. Detroit Champ Carry, Chicago A. E. English. Beverly Hills. Cal. SUBSIDIARIES Mich. Southard, Okla. C. A. English, Arcadia, Cal. .This is principally sr. operating company. HeJth^MiSit.10 Sweetwater. Tex. W. L. Keady. Chicago SAt Dec. 31, 1946. 100% of the voting power was owned in the following subsidiaries: Name, place of Incorporation and business: Canadian Gypsum Co.. Ltd.. Can. Toronto Asphalt Roofing Manufacturing Co., Ltd., Ont.. Can. Gypsum Packet Co.. Ltd.. Nova Scotia. Can. Panama Gypsum Co.. Inc., Panama. McHenry-Mlilhouse Manufacturing Co.. Inc.. Ind. (inactive). Gypsum Transportation Co.. Del. Samson Plaster Board Co., Inc., N. Y (inac tive). Sweetwater Suburban Water Co., Texas. United States Gypsum Co.. Del. Jacksonville Fla Hogersville. Ontario Hillsborough, New A. F. King. New York Oliver M. Knode. Chicago Brunswick John E. MacLeish. Chicago Windsor. Nova Scotia W. B. McMillan, St. Louis EOn leased land. W. P. Paepcke. Chicago The plants at Boston. New Brighton, Phil H. F. Sadler, Chicago adelphia and Jacksonville obtain their supply C. H. Shaver, Chicago of crude gypsum rock from the quarries of a Solomon A. Smith. Chicago subsidiary at Windsor. N. S. The plants at De Louis Ware, Chicago troit and East Chicago receive their supply of General Counsel: Scott. MacLeish Sc Falk. rock by water from the Alabaster, Mich., quar Annual Meeting: First Wednesday in March ries. All of the other principal plants have No. of Stockholders, Dec. 31.1915: Preferred uarries or mines operated in connection 1.154: common, 7,420. lerewith. The foregoing plants and mineral No. of Employees: Dec. 31. 1946. 8,400. deposits are owned in fee except for minor General Office: 300 W. Adams Street. Chi- holdings under lease at Oakfield and will*. cago 6. HI.