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Today's news of the chemical world likely to influence fne happenings of tomorrow > Chemical industry sales during the first half of 1956 hit $10.8 billion, up 9% from the like period a year ago and 5% from 1955*8 last half, according to Federal Trade Commission and Ç^W»Ï -ι wi 4--Î.*: *i*^w ^vixiiiiioijiwii. First, half profits of $880 million showed a 13% gain over last year's initial half. Another indication of income trends: for the three months ending Aug. 31, Hooker Electrochemical's volume was $24.2 million, 7% ahead of last year's like quarter but down slightly from the. preceding quarter this year. Net of $2.9 million was 10% above a year ago and on an even keel compared with previous 1956 quarters. • General Electric has no intention of altering present alkyd production on West Coast, con- •~ trary to rumor. Explosion at the Schenectady alkyd plant in March left GE with only the Anaheim, Calif., alkyd plant: Recent shutdown to improve Anaheim facilities fed the rumor. Re- building Schenectady plant is still undecided. • Diamond Alkali plans a . $60 to $80 million expansion program for the next five years. Major part of/the program will go to increase. caustic . soda and chlorine capacity at its Houston plant ;by 40%. . Operation is set for early 1958. Of equal importance ,to the long-term future,,presi- dent John A. Sargent told the New York Society of Security Analysts, is a projected acetylene plant based on natural gas. Construction starts in a year. Initial use would be manufacture, of vinyl chloride monomer. Assuming a continued healthy business climate and a uniform price level, Sargent looks for annual sales of $160 to $180 million by 1960. '* ~ *" )• The structure of another antibiotic has been worked out. Hard on the heels of their nygro- . myein work ( C&EN, Oct. 1, page 4756 ) Eli Lilly i chemists report that erythromycin consists of two Λ sugars, desosamine and cladnisone, attached to erythronolide. Desosamine structure was worked put by Abbott Labs. Lilly says new knowledge has already helped in making new derivatives arid „ C 14 labeled erythromycin, as well as enabling some savings in process costs. L. ' • Use of chemicals to improve the qualify of ; ;Vpaper is not nearly so great àsrit should;be, says; V N Wâfred Gallay, research director, of Canada's E. ν B. Eddy Co. The paperindustrymust intensify . its research on chemical additives if expanded markets for paper are to be developed. Gàllay told the Chemical Market Research Association that use of chemicals in paper is now severely re- tarded by cost factors and by lack of sufficient basic knowledge of physical and chemical proper- ties of the papermaking fiber. • General Aniline's plans to reclassify its stock as a prelude to sale of government-heid shares are at a standstill, at least temporarily. Minority In- terhandel stockholders Have asked for injuncuorA against voting of government holdings and U. S. Attorney General has agreed not to vote shares until after a court decision. Hearings in U. S. District Court for the District of Columbia began Oct. 5; this week's GAF stockholders* meeting was adjourned until Oct. 11. • Some chemical shares are among weakest performers in recent downtrend in stock prices. A sampling of chemical equities shows these drops in past two months since tightening money supplies and worries about Suez put the stock market on the skids: Hercules Powder, 19%; Hooker, 17%; Allied, 16%; Olin Mathieson and Union Carbide, X59&; Dow and Monsanto, 13%; Dû Pont and RoHm & Haas, 12%. • Prices for industrial chemicals continue to ; move higher as- result of advancing, costs for . labor, ~transportation, and containers. In. addi- :. tion to upturns iri basic alkalies and chlorine al- ready ajrinounced, manufacturers have effected an : across-the-board xise irx process sulfurs, calcium hypochlorite, amyl alcohols, sodium disulfite, tar- taric acid and other tartar products, and deter- gent sodium silicate. • Chemical industry pays fringe benefits second only to those in the petroleum industry. A survey jiist completed by the XJ. S. Chamber of Com- merce indicates that weekly wages and hourly rates no longer tell the story—fringe benefits must be measured. The 1000 firms surveyed (50 from chemical and allied industries) report 1955 fringe payments ranging from less than 5 to over 50% of the payroll. Over-all average: 20.3%. The chemical industry's 21.8% is topped only by the petroleum industry's 24.3%. • A smog fund campaign may get under way next year in southern California; at least that's 7 \the plan revealed at California assembly subcom- mittee bearings at month's end by Carlyle Stout, member of Los Aaageles County Medical Associa- tion's smog committee. Plan is to form nonprofit corporation, not connected to association, to run campaign. Money would go for medical research , on smog effects, for which association has been plugging for years (C&EN, Oct. 5, 1953, page 4061). OCT. 8 f 195 6 C&EN 4863 conW&B Pitrates
Transcript of concentrates
Today's news o f the chemical world likely to inf luence fne happenings o f tomorrow
> Chemical industry sales during the first half of 1956 hit $10.8 billion, up 9% from the like period a year ago and 5 % from 1955*8 last half, according to Federal Trade Commission and Ç ^ W » Ï -ι wi 4--Î.*: *i*̂ w ^vixiiiiioijiwii. First, half profits of $880 million showed a 13% gain over last year's initial half. Another indication of income trends: for the three months ending Aug. 31, Hooker Electrochemical's volume was $24.2 million, 7% ahead of last year's like quarter but down slightly from the. preceding quarter this year. Net of $2.9 million was 10% above a year ago and on an even keel compared with previous 1956 quarters.
• General Electric has no intention of altering present alkyd production on West Coast, con-
•~ trary to rumor. Explosion a t the Schenectady alkyd plant in March left GE with only the Anaheim, Calif., alkyd plant: Recent shutdown to improve Anaheim facilities fed the rumor. Rebuilding Schenectady plant is still undecided.
• Diamond Alkali plans a . $60 to $80 million expansion program for the next five years. Major part of/the program will go to increase. caustic
. soda and chlorine capacity at its Houston plant ;by 40%. . Operation is set for early 1958. Of equal importance ,to the long-term future,,president John A. Sargent told the New York Society of Security Analysts, is a projected acetylene plant based on natural gas. Construction starts in a year. Initial use would b e manufacture, of vinyl chloride monomer. Assuming a continued healthy business climate and a uniform price level, Sargent looks for annual sales of $160 to $180 million by 1960. '* ~ *"
)• The structure of another antibiotic has been worked out. Hard on the heels of their nygro-
. myein work ( C&EN, Oct. 1, page 4756 ) Eli Lilly i chemists report that erythromycin consists of two Λ sugars, desosamine and cladnisone, attached to
erythronolide. Desosamine structure was worked put by Abbott Labs. Lilly says new knowledge has already helped in making new derivatives arid
„ C14 labeled erythromycin, as well as enabling some savings in process costs. L. '
• Use of chemicals to improve the qualify of ; ;Vpaper is not nearly so great àsrit should;be, says; VNWâfred Gallay, research director, of Canada's E. ν B. Eddy Co. The paperindustrymust intensify
. its research on chemical additives if expanded markets for paper are to be developed. Gàllay told the Chemical Market Research Association that use of chemicals in paper is now severely re
tarded by cost factors and by lack of sufficient basic knowledge of physical and chemical properties of the papermaking fiber.
• General Aniline's plans to reclassify its stock as a prelude to sale of government-heid shares are at a standstill, at least temporarily. Minority In-terhandel stockholders Have asked for injuncuorA against voting of government holdings and U. S. Attorney General has agreed not to vote shares until after a court decision. Hearings in U. S. District Court for the District of Columbia began Oct. 5; this week's GAF stockholders* meeting was adjourned until Oct. 11.
• Some chemical shares are among weakest performers in recent downtrend in stock prices. A sampling of chemical equities shows these drops in past two months since tightening money supplies and worries about Suez put the stock market on the skids: Hercules Powder, 19%; Hooker, 17%; Allied, 16%; Olin Mathieson and Union Carbide, X59&; Dow and Monsanto, 13%; Dû Pont and RoHm & Haas, 12%.
• Prices for industrial chemicals continue to ; move higher as- result of advancing, costs for . labor, ~transportation, and containers. In. addi-:. tion to upturns iri basic alkalies and chlorine al
ready ajrinounced, manufacturers have effected an : across-the-board xise irx process sulfurs, calcium hypochlorite, amyl alcohols, sodium disulfite, tartaric acid and other tartar products, and detergent sodium silicate.
• Chemical industry p a y s fringe benefits second only to those in the petroleum industry. A survey jiist completed b y the XJ. S. Chamber of Commerce indicates that weekly wages and hourly rates no longer tell the story—fringe benefits must be measured. The 1000 firms surveyed (50 from chemical and allied industries) report 1955 fringe payments ranging from less than 5 to over 50% of the payroll. Over-all average: 20.3%. The chemical industry's 21.8% is topped only by the petroleum industry's 24 .3%.
• A smog fund campaign may get under way next year in southern California; at least that's
7 \ the plan revealed at California assembly subcommittee bearings a t month's end by Carlyle Stout, member of Los Aaageles County Medical Association's smog committee. Plan is to form nonprofit corporation, not connected to association, to run campaign. Money would go for medical research
, on smog effects, for which association has been plugging for years (C&EN, Oct. 5, 1953, page 4061).
O C T . 8f 195 6 C & E N 4 8 6 3
conW&B Pitrates
