LEE BAUER COMPLETES LONG
RECORD OF SERVICE
Lee M. Bauer, Production Manager of the Ecus-
ra Paper Division, completed 25 years of service
with Ecusta and predecessor companies on Aug
ust 11.
Mr. Bauer began his association with the late
Harry H. Straus in 1928 as an office boy for the
Cork Import Corporation. Prior to his association
with Ecusta Paper Corporation which began in
1939, he was connected with Boucher Cork Com
pany, Endless Belt Corporation, De Mauduit Pa
per Corporation and Champagne Paper Corpora
tion.
A native of New York, Mr. Bauer attended
high school at New Rochelle, and Huntington
Prep School in Boston, Massachusetts.
In 1932 Mr. Bauer went to Troyes, France
where he studied languages and paper making.
For several years he was a director of S. N. des
Papeteries de Champagne, paper manufacturers of
Troyes.
He has the destinction of being the first office
boy of Champagne Paper Corporation.
The Bauers live at 87 Marlbourough Road,
Asheville. They have two children, John H., 16
Lee M. Bauer
years old, and Peggy, 12.
Mr. Bauer is a member of the Technical Asso
ciation of the Pulp and Paper Industry, American
Pulp and Paper Mill Superintendents Association,
Elks, North Carolina Society of Engineers, Engi
neers Club of Western North Carolina, and So
ciety for Advancement of Management.
All Ecustans join in extending heartiest con
gratulations to him.
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INCREASE IN SALES REPORTED BY
OLIN INDUSTRIES FOR SECOND QUARTER
East Alton, 111., August 13—Net sales for Olin
Industries, Inc., for the second quarter of 1953
amounted to $59,720,047 or an increase of ap
proximately 30 percent over $46,051,160 for the
same period last year, John M. Olin, President re
ported to stockholders. Mr. Olin said that sales
for the second quarter, like the first three months,
continued at the highest peacetime level in the
companys many years of steady growth.
Mr. Olin said consolidated income amounted to
$3,357,391 for the quarter ended June 30, equiv
alent to $.62 per share of common stock after
provision for preferred stock dividends and min
ority interest. This compares with net income of
$2,373,830 for the second quarter of 1952, equiv
alent to $.51 per share.
Net income for the first half of 1953 was $6,-
855,237, as compared to $5,210,411 for the cor
responding period in 1952. Earnings per share
of $1.28 for the first half of 1953 represent an
increase of 37 percent over last years figure of
$.93 per share. Provision for taxes has been esti
mated on the basis of the extension of excess
profits taxes to December 31, 1953, and includes
$2,615,763 of excess profits taxes.
The increases in the companys results reflect
much of the organization, coordination and added
depth of management effected since the end of
World War II, Mr. Olin said.
The second quarter saw a continuance of the
companys program of acquisition and expansion
to diversify its products, to develop the natural
resources on its various properties and to build a
fully integrated company.
Plans for financing his companys'entrance into
the aluminum industry are almost completed, Mr.
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