The Wall Street of Chemistry
1
Suif C.QW* \ BAY CHEMICAL Ι«β»«ί1ϊ =V^—— The Aluminum Co. of America has asked common stockholders to authorize an issue of 1,000,000 shares of a new class of preferred stock, pending retirement of all outstanding 6% cumulative preferred stock! Stockholders will vote on the pro- posal Dec. 20. The purpose of the new stock issue is to place Alcoa in a position to offer new preferred shares with a lower dividend rate in exchange for preferred now outstanding. Shares not required for exchange would be available for general corporate purposes. In April the com- pany offered preferred holders 7 shares of common in exchange for each 5 shares held; as a result the number of preferred shares outstanding was reduced from 1,192,306 to 910,706. Alcoa is redeeming on Nov. 12 the out- standing $76,210,000 of its 3% debentures due Oct. 1, 1963, and now held by 16 in- surance companies. The redemption is being accomplished with short-term bank loans plus funds made available through tax refunds in settlement of special war- lime amortization, release of working Drum stocks of Triethanolarnine are maintained in principal industrial areas. Larger quantities are shipped directly from our plants. Phone or write our nearest office for information and prices. SYNTHETIC ORGANIC. . CHEMICALS Indianapolis Chicago St Louis Seattle San Francisco Unit °* Union Carbide and Carbon Corporation Los Angeles 30 East 42nd Street \WMv\ New York 17, Ν. Υ. Chemicals Corporation capital by cancellation of operating leases on government-owned plants, and the settlement of wartime contract termina- tions. Chemical Fund, Inc., reports that all but five of 30 reporting companies earned more per share in the first six months of 1946 than in the corresponding period of 1945, for an average increase of 54%. All but six of 2S portfolio companies for which comparisons are available earned more in the first six months of 1946 than in the corresponding period of 1941, for an average gain of 60%. Chilean Nitrate & Iodine Sales Corp. has invited tenders for the purchase by the company of sinking fund 5 % income dollar debentures 3 due June 30, 196S. As of Dec. 31, 1945, there were S19,S72,000 de- bentures outstanding. Crucible Steel Co. of America has registered with SEC §25,000,000 first mortgage bonds, due in 1966. Part of the proceeds will be used to redeem outstand- ing $12,217,000 of 15-year 3.25% deben- tures, due [Dec. 1, 1935, and the remainder will be applied to property additions and rearrangement and rebuilding of existing facilities, or to purchase and redeem bonds. The company contemplates expenditure of $30,000,000 for diversifying products and for consolidating operations and improving practices. Distillers Corp.-Seagrams, Ltd., direc- tors have approved redemption of the cumulative preferred shares, 5% series, and a reduction of paid-up capital, subject to approval of stockholders on Nov. 14. Dow Chiemical Co. has filed a registra- tion statement with SEC covering a new issue of 830,000,000 15-year debentures, due Nov. 1, 1961. Proceeds will be added to cash funds to be used for general corpo- rate purposes, including additions to plants and facilities to manufacture new products and to meet increased demands for present products. Capital expendi- tures of the company and its subsidiaries during the past five fiscal years totaled S70,O77,S81. International Minerals & Chemical Corp. reports the highest sales volume in its history for a first fiscal quarter. Sales for t h e quarter ended Sept. 30, 1946, amounted to $6,737,109 compared with S5,514,087 in the same period last year, an increase of 22.2%. International Paper Co. has completed its program for retirement of all converti- ble b% preferred stock. Stock capitaliza- tion now consists of 230,579 shares of S4 cumulative preferred and 3,562,139 shares of common. 2986 CHEMICAL AND ENGINEERING NEWS Carbide AND Carbon Albany Boston New York Newark Philadelphia Baltimore Charlotte Buffalo Pittsburgh Cleveland Cincinnati Detroit *7&e 7ϋαΜ Street <U iZteemiâ&Ué 3i^£3uJm!Jk^l31_£imjL^^O^^^LUg2
Transcript of The Wall Street of Chemistry
Suif C.QW* \
BAY CHEMICAL Ι«β»«ί1ϊ
= V ^ — — The Aluminum Co. of America has asked
common stockholders to authorize an issue of 1,000,000 shares of a new class of preferred stock, pending retirement of all outstanding 6 % cumulative preferred stock! Stockholders will vote on the proposal Dec. 20. The purpose of the new stock issue is to place Alcoa in a position to offer new preferred shares with a lower dividend rate in exchange for preferred now outstanding. Shares not required for exchange would be available for general corporate purposes. In April t he company offered preferred holders 7 shares of common in exchange for each 5 shares held; as a result the number of preferred shares outstanding was reduced from 1,192,306 to 910,706.
Alcoa is redeeming on Nov. 12 the outstanding $76,210,000 of its 3 % debentures due Oct. 1, 1963, and now held b y 16 insurance companies. The redemption is being accomplished with short-term bank loans plus funds made available through tax refunds in settlement of special war-lime amortization, release of working
Drum stocks of Triethanolarnine are maintained in principal industrial areas. Larger quantities are shipped directly from our plants.
Phone or write our nearest office for information and prices.
SYNTHETIC ORGANIC. .
CHEMICALS
Indianapolis Chicago St Louis Seattle San Francisco Unit ° * Union Carbide and Carbon Corporation Los Angeles 30 East 42nd Street \WMv\ New York 17, Ν. Υ.
Chemicals Corporation
capital by cancellation of operating leases on government-owned plants , and the settlement of wartime contract terminations.
Chemical Fund, Inc., reports t ha t all b u t five of 30 reporting companies earned more pe r share in the first six months of 1946 t h a n i n the corresponding period of 1945, for an average increase of 5 4 % . All b u t six of 2S portfolio companies for which comparisons are available earned more in t h e first six months of 1946 than in the corresponding period of 1941, for an average gain of 60%.
Chilean Nitrate & Iodine Sales Corp. ha s invited tenders for the purchase b y the company of sinking fund 5 % income dollar debentures3 due June 30, 196S. As of Dec. 3 1 , 1945, there were S19,S72,000 debentures outstanding.
Crucible Steel Co. of America has registered with SEC §25,000,000 first mortgage bonds , due in 1966. Par t of the proceeds will be used to redeem outs tanding $12,217,000 of 15-year 3.25% debentures, due [Dec. 1, 1935, and the remainder will b e applied to property additions and rearrangement and rebuilding of existing facilities, o r to purchase and redeem bonds. The company contemplates expenditure of $30,000,000 for diversifying products and for consolidating operations and improving practices.
Distillers Corp.-Seagrams, Ltd., directors have approved redemption of t h e cumulative preferred shares, 5 % series, and a reduction of paid-up capital, subject t o approval of stockholders on Nov. 14.
Dow Chiemical Co. has filed a registration s t a t emen t with SEC covering a new issue of 830,000,000 15-year debentures, due Nov. 1, 1961. Proceeds will be added t o cash funds t o be used for general corporate purposes, including additions to plants and facilities to manufacture new products and t o meet increased demands for p resen t products. Capital expenditures of t h e company and its subsidiaries during t h e pas t five fiscal years totaled S70,O77,S81.
International Minerals & Chemical Corp. reports the highest sales volume in its his tory for a first fiscal quarter. Sales for t h e quar ter ended Sept. 30, 1946, amounted to $6,737,109 compared with S5,514,087 in the same period last year, an increase of 22.2%.
International Paper Co. has completed its p rogram for retirement of all convertible b% preferred stock. Stock capitalization now consists of 230,579 shares of S4 cumulative preferred and 3,562,139 shares of common.
2986 C H E M I C A L A N D E N G I N E E R I N G N E W S
Carbide A N D
Carbon
Albany Boston New York Newark Philadelphia Baltimore Charlotte Buffalo Pittsburgh Cleveland Cincinnati Detroit
*7&e 7ϋαΜ Street <U iZteemiâ&Ué
3 i ^£3uJm!Jk^ l31_£ im jL^^O^^^LUg2
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