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SPECIAL
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IftiP
GASTONIA
STOCKHOLDERS
REPORT
(JASTOMA. N. C.. FEimrAKY 15. 1«53
ir-
?i irvev S. Firestone Jr. Expresses Confidence
?i,al Business Will Continue at High LeveL
^1 n t I t H M Taylor Named Vice-Presideni] I
Officers, Directors Re-elected; • - • i
w J 111 . ———1 i*m*i Ti' T R. Jtvclcson*
. hus ness will ~ Jr.. e-hairman i
Lu
■not
Ii-
;ini
I
inti
\\-
- Mci
o;;,.
1 Fiu
^A■t^ I-
t .s Cn
ihotography — or
') it — you’re in-
, Camera Club. The
re rkroom is available
^ ch Tuesday after-
» ping and printing
pushes a
k'f button,
'j-, and the
comes into
I repeated,
floor auto-
j down the
Jcharged.
pin is as
itone tooV
Jst lighted
e units at
important
ilalion in-
p 22 ft<.
average is
p do thei:
3ccd acci-
Kirtint is
rcsultinsr
/CONFIDENCE that business w-ill
stockholders of the
,wuy at tneir anii p'jre.<;tone
Akron oil J»n^ ,552 »ere
tho Company. . .g fyUy ex-
' Wuilr; will milk.
rlSt/n“S contribution to the
i;Sh pr'elnf econS
iS'^iX/t fnr ourVoitet, will
i continue to be large.
Mr. l-irfstone i?tr^^ promoting
Comiiiiny ha;- ’ :... for build-
5 "?ferwgh^avs. He
} inir better and .safer ni^ri
I ie\v. (i the i)roKre.-».-»
1 Sion of the Company new
i ‘%T^hoS re-.l.c^
! r..*ir,ot.h. Con,,,any l!ao
The Firestone Tire & Rubber Company
and Subsidiary Companies
Distribution of Income
During 111. V.arEndrfO.K.l-er 31. 1»2
We Took In:
We bilie.1 our customers
for (foods sold
2. We billed our customers
for excise taxes
1 We received income
from other sources
4. Which nave us a total of
We Paid Out and Provided:
$ 9f.5,364,42T
48.548,005
3,709.«05
$"UM7ie22i0S7
Wc paid for ««“*'"^’t;Vr“expenses » f-06.142.788
transportation and otner exp
■ ' 00.715,018
3,388,8<>fi
t (•
We provided
on ImildinKS and equipment
We paid interest
on money borrovxed
We provided for unremitted
earninss of foreign 10,792,030
subsidiaries
This left $376,583,310 for employees,
government and stockholders
Which Was Divided as Follows:
11.
For Employees:
Wages and Salaries
For Government;
Taxes
For Stockholders;
Dividends
For Working Capit^
Plant Expansion
$233,223,483
100,278,140
14,132,972
Ktc. 28.948,745
I’er Cent
fil.9
26.6
7.7
376,583,340 1000
»ToW^2^7
dent. Manufacturers Sale^ Officers
re-elected are; Harvey S. Firestone,
Jr., Chairman; Lee R. Ja(Ason,
Pre.sident; John J. Shea, Vice-Presi
dent, Finance; James E. Traine^
Vice-President, Production; Ij^ro'd
I) Tompkins, Vice-President, Trade
Sales: Raymond C. Firestone Vice-
President, Re.search; Harvey 11. Hol-
linirer. Treasurer, Joseph Thomas,
Secretary and General Counsel;
Claude A. Pauley, Comptroller; bl-
ton H. Schulenberg, Assistant
Treasurer; William D. Zahr^ As
sistant Treasurer; Henry ^Brain-
ard. Assistant Secretao':
F Dovle, Assistant Comptroller.
L*aureiice A. Frese, Assistant Comp-
troUer.
♦ ♦ •
THE COMPLETE text ot Mr.
Fire.stone’s address to the .stock
holders at the meeting follov^:
The Firestone Tire & Rubber
Company on October 31. 1952. com
pleted another very successful year,
the second largest in
\ot »5ales amounted to $965,361,4^7
;,mpurod with $975,766,455 for last
veur Net income amounted to $ W,*
«S1 717, equal to $10.89 per share
of common stock ^^pared with
$■18,398,950. equal to $li.ii6 per
common share last ,
It was anticipated that s.ues
w.Iuld be larger for the year, but
thi-v were adversely
liationwide steel strike ^hi^
duced re(iuirements of automoime
manufacturers for tires, tubes, rims
•md mechanical rubber goods, as
well ITs by the reduction in prices
of tinished rubber products result
ing from a decline in the price of
rubber The decrease in profits was
duo mainly to a red“tion in Uj.
world market price of natural rub
ber sold by our Liberian P^ante-
tions and to higher wages and other
operating costs; substantially offset
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NO. 5
rmit One
:ir’s Work
PK et February iUtli i
siliei
is a
year and an eiuployee
1 week’s vacation. This
of eight months and
r^‘‘‘they were eligible for a
Juct
FalH
17 II'
III M
L. & R-
TAGl
1 lUfSIONK li! '
TO!<S, '.*F' ?(C.HT, KlX
I (M'KlK)n»l tiS A- .'IN
,^,..1. ADDXtiS lO |,oU>NOf«, )OHN
V n.ESTCNK, n...roN,: ^N.
Januakv ifJ Akso.'<
ruOM^sHA.VEvS.
the Sio. saoi.o^RS .<Ri- niE
Jr., l.Ki: «
hiiif
rben of eacli year and there
jiat-
iiidj
'^eij/antages are two fold,
[leans that all employees
e for a week’s vacation
upon completing their
[ of credited service and
pse completing their fifth
' -i-h year of credited ser-
^ be eligible for an addi-
^Ic’s vacation at that time,
li advantage is that em-
ill be allowed to take
tions at anytime during
that is mutually satis-
ith the employees and
•visors.
jiirement that vacations
ed with supervisors is
. in order to maintain
^ without interruption,
lis requirement produc-
be severely restricted
.mbers of employees in
;s decided to take Viica-
e same time. Whenever
ossible to allow all em-
take their vacations
. periods desired, em-
ith the most company
be given preference,
or the changes pointed
3r provisions of the va-
cy remain in effect—
ese is the provision for
ly. As in the past, em-
;itled to vacations will
;ation pay as follows;
led to one week of va-
inued on Page 3)
^'^^i-ch, located at 1001 West Sec-
ll'id Avenue in Gastonia. On that
th^ double celebration will mark
anniversary of the
Rich’s founding, and the fourth
^universary of the completion of
® church plant.
We;
The
*^^^yan Church including the
people of the Firestone
the Reverend Frank B.
proud of the progress
ye^^^. has made over the
its founding. Their
i'ath^ vainglorious, but is
Th ^ feeling of thankfulness,
ha ffor a church that
pi'e Y^^^^ered the storms of de-
^^ession and moral upheaval in
around it, yet withal
strong and determin-
teaching of the funda-
virtues of Christian living.
'A'
,■«
The Wesleyan Methodist Church with its pastor the Rev.
ooking forward with especial jDejmard shown in the inset.
P. B.
Firestone’s Plant Newspapers
Win Annual Freedoms Award
THE Firestone Tire & Rubber Company and its Chairman, Harvey
S. Firestone, Jr., have received two high honors from the Freedoms
Foundation.
Mr. Firestone was awarded an honor medal in the Public Address
category for his talk, “The Bonds of Brotherhood”.
The Company’s seven publica-
ii^te
a’!’® two charter
to the April 19 Anniver-
Servic
of the Firestone Wes-
^rs W. G. Waldrop and
' E. Hill. These 50-year
in their accus-
members will be _
tomed pews for these services, if
health permits. Mr. Waldrop work-
ed many years for Firestone Tex
tiles and before that for the Man-
(Continued on page 6)
seven
tions have been given the top award
in the Employee Publications cate
gory of the Freedoms Foundation
Awards Competition for 1952. J.
E. Trainer, Vice-President in
Charge of Production, accepted the
award for the Company at cere
monies at Freedoms Foundation
headquarters at Valley Forge,
Pennsylvania, February 22. Vice-
President Richard Nixon presented
the awards.
The Firestone publications won
the award in competition with
several hundred other leading
Company publications. Mary
Kerrigan, supervising editor for
the publications, received a per
sonal honor medal.
THE seven publications for
which the top award in the Em
ployee Publication category was
given was: the Firestone Non-Skid,
for employees of the home plants
in Akron, Ohio; the Firestone
Californian at the Los Angeles,
California, plant; the Firestone
Southerner, Memphis, Tennessee;
(Continued on Page 2)