North Carolina Newspapers

    Fehruar 15, k
rir«$ton» NEWS
, i J J ^
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[hotography — or
1 it ^— you’re in-
J Camera Club. The
e rkroom is available
:h Tuesday after
ping and printing
NO.
Additions to and improvement of plants and eqi’ipment amounted to $-(2,931,683. Again, there were major additions to plants at Akron, Dl
Moines Los Angeles Memphis, Pottstow n and Fall Kiver. The Firestone Plastics Division has been greatly expanding its resjn plant FACiinits
SHOVi’N HERE IS THE NEW RESIN PLANT TaNK FaRM AT THE POTTSTOW N PLANT.
■■ ' by a (Iccrease In taxes. The parent company was not .subject to exM
profits tax (luring the year.
Total sales of Firestone procJiict.s out.^ide of the United State;; c :
tinned at the hi^h level of last year. Profits of foreign subsidiaries w;:-
from which we provided a reserve of $10,792,030 for pnc
earned in certain countries which could not be remitted during the
because of exchange shortages.
F'ederal, .state and forei;;n taxes totaled $100,278,140 of which incti-
and excess profits taxes were $10,000,000. excise taxes $‘18,548,005,
security taxes $4,989,572, and other taxes §5,840,563.
In the fiscal year, we redeemed $2,750,000 of long-term debt a:;
$1,200,000 of preferred stock. N'et working capita! at the close of thevd-
was $288,2.‘11,430 as compared with $201,158,456 on October 31, 1951
•* * *
rmit One
fir’s Work
ivi'i.
>bi
Consq,,
the V
''ict February IGth is a
die. I
tion' r
of d(l
Seld J
owi4
aieai
inloi
I
Extensive modernization and expansion programs included this new
TIRE PRODLXTION LINE AT THE DeS MoINES PLANT. TllE AUTOMATIC I NITS
PICTURED COMBINE THE TIRE-FOR.MING AND TIRE-Cl'RING f)PERATIONS AND
• NCREASE OLTPrT OF FINISHED TIRES SUBSTANTIALLV.
IN MAV, 1952, we sold $75,000,000 of twenty-five-year debenturejC
an interest rate of 3>I per cent. The proceeds, after repaying short-tfT
bank loans which, on May 12, 1952, amounted to $37,250,OOV), provide fu';
for plant expansions, plant improvement.s, and additional working cai>::i
which materially strengthens the linancial position of the Company.
Additions tt> and improvement of plants and equipment amountfti-
$ 12.!>.‘) 1 rompared with this expenditure. $20,715,013 was proviiir.
from current income and charged to depreciation. Again, we made nia>
additions to our pl;ints at Akron, Des Moines, I^s Angeles, Meniph^
I’ottstown. and Fall River. Increased facilities were also provided at t.:
foreign plants. As a result, capacity has been materially increased ar:
manufacturing proce.sses improved for the production of passenger Ci.'.
truck, tractor and earth-mover tire.s; Foamex, the foam rubber usedfe
mattresses and upholstery; meeh.inical rubber goods; defense product.'
reclaimed rubber; Velon plastic libers and ba.sic resins for plastics. •
* » *
DrRINt; TIIK YEAK, natural rubber prices tleclined substantial!?
;ind the price of general purpose synthetic rubber, GR-S, was reduced wht:
the (lovernnient discontinued the operation of the higher-co.st akohor
process l)utadiene plants. Supplies of both natural and synthetic ruW’f’ i
appear to be ample to meet the ever-growing needs of our industry {« L,,uirement that vacations
the next .several years. r
7 ea with supervisors is
Rubber allocations continued under Government regulation until w .
when practically all restrictions were removed. On July 1, the Governmr'-
reliiuiuislied its position as the exclusive importer of natural rublu r
the rubber industry began purchashig its requirements. The Rubber
under which the synthetic rubber i)lants are controlled, and wliiili
due to expire June .‘!0, 1952, was extended by Congress for an adihtiors-
21 months. Now that the Government has practically completed it' P’J’;
gram of stockpiling rubber, it is giving serious consideration to selliMT !■'
syntlu'tic rulji)er plants to private industry.
Production of natural rubber on the Firestone plantations in 1 i*'’'
was 72,70(),r)51 j>ounds, a large part of which was shii)ped in the I
concentratt d latex and p;de.crepe to meet the demand for these pr>
tyjie rnhbers. We continue to oi)erate for the (Jovernment synthetic
plants in .-\kron, Ohio, and Lake Charles. Louisiana.
.,l1i
year and an employee
a week’s vacation. This
gfe, |)d of eight months and
they were eligible for u
Juct
fulU
The!! of eacli year and there
Biat
tr\d
SpJ vantages are two fold.
I leans that all employees
I e for a week’s vacation
upon completing their
j of credited service and
(i?e completing their fifth
‘p-t;h year of credited ser-
L be eligible for an addi-
^k’s vacation at that time,
’d advantage is that eni-
‘ill be allowed to take
tions at anytime during
that is mutually satis-
ith the employees and
■visors.
The reputation of ouv (’onipany ;is a pioiK’er and p.iceinaker h
further enhanced l>y the work of iku' res('arch .scientists and dev»'
enginceis, Mai>v of their laiidiatory and projects have led t(>
if 1 nai'Ti.ils and t!u> inipn>\ ••.nent •>'’ ji -.i.'iufacturing ’
En>
. jr.ED f Ai.ii iTiES .'1 Tin, I'ALL Rivr-; p
o’- e !•' A.MI.X
,T MAKE rrrossnui-: tocomvi.i is:
• :( minute.
coverv
;t!'d machine.s,
MOST .VNT nnnduncN'menf -if
■ tu'i es'-.ful <l<‘vel<'”nn nt b:- " .•‘"■■toiU'i-f .i ^
j.;nv. rtiil, uut'i--. ■' J'.*'.' i
>. a'’
e;ti'
ttV-4’
i-e I' '
I , in order to maintain
It without interruption,
•lis requirement produc-
I be severely restricted
^mbers of employees in
decided to take vaca-
ire same time. Whenever
i ossible to allow all em-
I take their vacations
i periods desired, em-
I 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-
titled to vacations will
iation pay as follows:
led to one week of va-
inued on Page 8)
■ '''■^sieyan ivietaouiat
oud ^ ’ located at 1001 West Sec-
dity ^ Gastonia, On that
the celebration will mark
"-■hurch’sT ^!^^™sary of the
*^*inivei'g the fourth
completion of
^ church plant.
Firestone
I^astor fv including the
^^^verend Frank B.
chu^^u the progress
sin^^ ttiade over the
l^i’ide ig founding. Their
^■ather a ^V^^^^glorious, but is
thankfulness.
Weafb ^ church that
storms of de-
Worlri ^ ’^oral upheaval in
withal
in its . strong and determin-
^ ^®^ward with especial
Servieo ^ 19 Anniver-
, ® are two charter
Chureb ^^’^^stone Wes-
E W^'drop and
Hill. These 50-year
The Wesleyan Methodist Church with its pastor the Rev, F. B.
Dennard shown in the inset.
members will be in their accus
tomed pews for these services, if
health permits. Mr. Waldrop work-1
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-'
ed many years for Firestone Tex
tiles and before that for the Man-
(Continued on page 6)
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)
    

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