, Maihieson Issues
Annual Report To
Its Stockholders
Chemical Company Build
ing New Insecticide Plant
In WUliamston
Sales and net earnings of Ma
^ thieson Chemical Corporation
reached new record highs in the
year ended DeeggjJ^jy.^10,51,
Thomas S. Nichols, president, an
nounced today.
The annual report shows sales
of $91,234,076, compared with sales
of $75,775,757 for 1950, an increase
of 20.4 per cent. Net earnings, af
ter providing 311,975,000 for Fed
eral income and excess profits
taxes, were up 7 3 per cent and
amounted to $9,652,993, compared
9 with earnings of $8,994,014, after
Federal taxes of $7,270,000 in the
previous year.
No contribution of any conse
quence was made to either sales
or earnings by the newer acqui
sitions of Mathieson Hydrocarbon
Chemical, Morgantown Ordnance
Works, Mathieson Alabama Chem
ical or the new chlorine plant at
Saltville, Va. These will begin to
produce for the company during
1952.
* The common stock was increas
ed in December, 1951, by a- total
of 480,886 shares, by conversion
o fthe 7 per cent preferred stock
(95,108) and by conversion of the
| common shares of Mathieson Hy
drocarbon Chemical Corporation
(385,778), making a total issue of
3,142,574 shares on December 31,
1951.
Earnings of $9,652,993 after Fed
eral income and excess profits
taxes are equivalent to $3.56 per
share on the 2.661,868 shares of
rt-cri/v/f.o'i'i- slock outstanding- pi ior
to the conversion of the 7 per cent
preferred stock and the merger
|-a itii Mutfiieson Hydroearbijjj..
This compares with earnings pf
'3.32 per
i of stock in 1930.
Based on 3,142,754 shares of
common stock outstanding, or re
served, on December 31, 1951,
earnings were $3.02 per share. It
should be recalled, however, that
earnings from Mathieson Hydro
carbon, for which 385,778 shares
were issuect, will not develop un
til early in 1952.
The increase in profits, despite
heavier taxes, is a result of the
four year- expansion, integration
and diversification program start
ed in 1948, Mr. Nichols said. Dur
ing the four year period sales have
increased 270 per cent, net income
has risen by 230 per cent, plant
an dequipment has grown 168 per
cent, and earned surplus 179 per
cent •«.<* J|
The balance sheet on December
31, 1951, shows that total assets
have risen to $192,328,726. as com
pared with total assets of $137,
382,917 a year earlier. Net current
STUDENTS ClEAN UP AFTER RALLY ;
STRICTLY NON-PARTISAN students of Georgetown University indis<
criminately clean up placards and campaign banners following the
annual GOP Lincoln Day rally and box supper in Washington. Sup
porters of Taft, Eisenhower, Stassen, and MacArthur staged demon
strations. Party solidarity was stressed, however. (International’
assets at the end of 1951 wort
$30,138,496, an increase of $12,
256,701 since December 31, 1050
Capital and surplus were $85,
236,201 on December 31, 1951
compared with $57,012, 224 u yeai
earlier, an increase of $28,193,977
* * *
During 1951 a number of new
developments took place or were
under way in addition to those al
ready mentioned.
In October, 1951, thp company
acquired 137,225 shares of Class
A and Class B stock of Americar
Potash and Chemical Corporation
or approximately 26 per cent ot
its outstanding stock, at a cos'
of $5,558,134, American Potash
with a plant at Trona, California
produces potash salts, boron pro
ducts, soda ash, salt cake, lithium
salts, and bt'omine.
A new corporation, Mathiesor
Alabama Chemical Corporation
was formed to construct a plant
at McIntosh (near Mobile), Ala
bama, frtr the production of chlo
rine and caustnc soda. This plant
which is expected to be in produc
tion about June 1, 1952, has sold
its output on long-term contracts.
The acquisition of Mathi’eson
Hydrocarbon Chemical Corpora
tion. a major step in the com
pany's development, provides a
basic position for entry into the
rapidly expanding organic chem
icals industry. This division of the
company is now producing a num
ber of important chemical deriv
atives of ethauc, and liquefied pe
troleum gases, such as, butane, iso
butane, propane, and natural gas
oline.
On December 2(1, 1951, the com
pany acquired by lease, the Mor
gantown Ordnance Works. This
plant, one of the largest in the
country, is capable of producing
over 200,000 tons of amonia and
or methanol a year. It also pro
duces formaldehyde and hexa
mine.anri will, as by-products of
its coke ovens, have available cer
tain quantities of ammonium sul
phate, benzol and light tars and
oils. The plant has been leased for®1
five years with an option to re- j
new the lease for an additional
fifteen years, on a rental based on
production of ammonia and meth
anol, and on market prices for
these products. The output of the
plant will he sold to industry and
the Government, and also used at
the company’s Eastern plants for
the production of plant foods for
agriculture.
The modern electrolytic chlo
rine plqpt completed at Saltville,
Va., in rtyvember, 1951, was built
to supply the organic chemical
: plant at Doe Run, Kv. It is now
m full production with a rated
capacity of over 200 tons per day
of chlorine and rayon grade caus
tic soda. The latter produet has
!a ready market in nearby textile,
ra.von and cellophane plants. The
I addition of this plant and the one
[at McIntosh, Alabama, will, by
mid-11)52, increase Mathieson’s
chlorine capacity 250 pci cent. ,
A further expansion at t|i **••• ’
j Kami*1, Arkansas, sulphui recov-i
[cry plant has made it possible for
•tile company to supply up to 17
per cent of its total sulphur re
quirements by the recovery of
sulphur from sour natural gases,
an important accomplishment dur
ing the sulphur shortage.
A new benzene hexaehloride
plant was brought into produc
tion during the year at Niagara
Falls, making the company one of
the leading producers of this basic
chemical for the rapidly expand
ing agricultural insecticide mar
ket.
The fertilizei plant at Houston,
Texas, was further developed for
the manufacture of additional
gradesof high analysis pelletized
fertilizers, now in great demand
throughout the company’s mar
keting area.
Eisenhower Faces
Some Tough Going
By Stanley James
Washington Correspondent
Washington, Feb. Backers of
Ohio Senator Robert A. Taft's
presidential campaign are making
a ■' 'fffc i tTi*» £ i i nvi t k t tf H i i i I i off*' < • l i o r t ‘
to cr ;ck the big blocks of Repub
Han convention delegates which
are generally supposed le be ‘
mg toward Gemuai Dwight D.
. . i— ---
The battlegrounds for this in
tra-party in fighting aie New
York, Pennsylvania, Kansas, and
several other states.
While Governoi Thomas F..
Dewey of New York is trying to
hold the Empire Slate's hi * block
of delegates as a solid unit for Ei
senhowei, the Taft people claim
A further expansion of the Lake
Charles anhvrous amonia plant
was completed in August, 1951.
The increased output is being con
sumed at the company's Houston
fertilizer plant, helping to aflevi
ate some of the shortage of nitro
genous lertilizers.
Three insecticide mixing plants
were completed at Little Rock,
Ark.; Williamston, N. C.; and
Houston, Texas, to produce com
mercial insecticides, fungicides
and pesticides, using the com
pany s production of benzene hex
aehloride at Niagra Falls.
WHEELS
BALANCED
■k* MWftta** of ihl* apocUl offer to nok*
our car bats to drivs on highways ami in city
-aflk& Whan your wheel* ara ueimntifleaUy
alenssd on our "Bear' Wheel Balancing
lachine your Urea last longerl Steering parts
re relieved of dangerous wear from vibration!
•t us make your steering sure and steady
vr greater safety and economy.
“SINCLAIR
Service Station
AsaoJ. Manning
A Adveitispd Co3st Cimt in, the PU^T
they will have at least, eipht and j
they are strivm.it for more The j t
growing strehgth of Taft is caus-1 j
inn llnwpv end 111. i i mO 0.' j
ti exert extra efforts to sew up <
New York's delegation, according t
to Congressmen in position to 1
know the facts. ;
One such Congressman is Dean j 1
P. Taylor of Troy. N Y , who was] '
•& «;reag»<cd¥;»?%k> i f- 1- • . v { ■■
President in 1948 but is cool to
wards Eisenhower. Taylor told i i
the. vo.' respondent vn ;.?•> "■e’usiv.e :
interview, that Dewey tent the.'
Pennhhean -Si-ale Itlimrintiii. Wil
- . 410**- - . JF-*9b*KK***m>*r6***
Ham Pfeiffer of Buffalo, down to]'
Washington early in February for ! 1
t “iov feast.” with the Repub- j 1
:ean members of Congress from,
x e\v 'i ork.
Taylor said the general idea of
he private dinner party was to !
et the Congressmen lined up for j
Ike." However ,he said. a p,ji 1
f Republican Congressmen shows
hat Taft is favored by at least
ia 1 f of them, and possibly more; ,
nd that others are waiting to see
tow the candidates run in the j
•Jew Hampshire primary March j
"If Taft even wins one delegate
n New Hampshire, he will slow j
boom."
ral has
lown the F
iGylor said. The G
avi i-i» tin* board bv a la mare
he! t. because the governor
he state organization art behind
uni, and Taft has few prominent !
eaders in his camp.'1
In Pennsylvania, Senator Duff
is backing Ike but the finds that
iis old enemies in the Grundy
Machine, who swung over v»
Dewey in ’48, are leaning toward
raft.
In Kansas, where the General
was first expected to have eur.y
sailing as a “favorite son.” Sen i
(or Schneppel is working hard to
of rime delegates for Taft. Taft
to w;n the nomination, confident
that the winner will be the next
plant intr e.ie! a - f i"rV US1 < V
during is)5t offer promise as
•uurces for Cortisone, the drug
us. I in treatin', arthritis and oth
;r ills.
FRt&Mt*e
Efeefric Ranges
fastest cooking in Frigidaire history *
EACH ONE FEATURES l
• Big, porcelain Evon-Hoat Oven
• Radiantube, 5-Speed Cooking Unitjj)
• High-Speed Broiler, waist high
• All-porcelain Inside and out
• Acid-Resisting Porcelain Tap
Prices start at $000.00
Coat# lit I Son why You Can’t Match a Frlgidalra
* Dixie Motor Co.
__ __ I
Yoik
•*%
I
INSURANCE
and Yonr Family's Needs
Large or Small Estate - - ■ I
Protect It NOW! |
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protection ... let your insurance be the guiding light! Peace 1
of mind and safety are the priceless benefits of sound, capable es- m
late management. Confidential, of course. * ■
Consult
Us
To help you sel-up an insurance
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86 Proof
1M STRAIGHT WHISKEYS IN THIS PROOUCT
Ml 4 YEARS OR MORE OUJ 11% STRAIOHT
WHISKEY, U% NEUTRAL SPIRIT*, DUTRUO
FROM ORAM.
Retail
Price
$2.10
Pints
$3.35
Fifths
\
• ANIM..15
• EQUIPMENT
Jt
20 HORSES AM) MULES
’47 HUDSON PICK-UP TRUCK
6 GANG PLOWS. Walking and Riding
CARTS and WHEELS
TRACTOR-DRAWN DISC
PLANTERS - PLOWS - CULTIVATORS
ROOFING and BARN PAINT
PLOW CASTINGS
COLLARS AND PADS. Old and Nov
HUNDREDS Ol OTHER HEMS
12 O'CLOCK
SATURDAY, FEB, 16, 1952
W. J. BURDEN ESTATE
Al llir Hurdeii Stables hark of Stores on (iramille Street
WINDSOR, N. C.
AT AUCTION
Friday, Feb. 15th — £30 P. M.
I!'»' R. D. Whitehurst Ftirm formerly known as llie oM ,|im Jones Farm. Located 2 miles
froln (»reenville (lily Limits on Paciolus Highway.
(.oulniniii" 06 acres, more or less, with 62 acres cleared. \II ol this land hein^ in one
hlnek. One of tin* nicest farms that we have ever had the opportnuilv of luindlinu. Lo
cated ri•'hI in the hack door of one of the finest tobacco markets in the world. With allot
ments as follows: Tobacco—III acres; Peanuts—17 aeres; (lotion—5, original allot
ment. Out id 62 aeres ol cleared land, there are It) acres of money crop, 22 acres of
corn.
ore
Have yon ever seen a farm sold that had this per cent of acres in cash crop bef
Neither have I. Why pay taxes on farm land that has no crop allotment? Just think of
two-thirds of the land on this farm has cash crop allotments.
No, that isn't all. I 6-room dwelling home in perfect condition; I 5-room dwelling,
new; pack house (112x10) with hip; shelter on each side and enough room to lake care 6f
your tobacco, corn, hay, and anythin" else jjrnw n on this farm. (» Tobacco barns equipped
with Itnckeve ctirers. Lights and running water.
I hat still isn t all. I nice mules; 2 earls; Plows; Sowers; Planters; Tobacco Trucks;
14,000 tobacco sticks; I John Deere It Tractor with breaking plows, cultivators, and plant
ers; Approximately 1*00 hales «»f hay; 50-60 barrels of (lorn. Tobacco Setter and Spray
er. A complete line of farming equipment.
Tobacco beds sowed; Shrubbing and discing done; stalks cut; ditches ready cleaned out.
I he tenant on this farm is one of Pill (lonnty's finest tobacco farmers, (lonhl yon imag
ine in this day and time not even having to leave the farm to plant, cultivate, and house lit
aeres of tobacco? Your labor is on the farm.
...kmi'm: sound*...ami read* like .u dream.. It isn't, a.dream.. .Il.'.a.JmaLn'* uumuul.
to lind a plantation in this country that offers so mm h and is located so well. Yon are
cordially in* iled to v isil this farm and check on each and ev cry thin)' listed in this ad. 1 on
will lind it all there and then some more. W ilh tobacco sell ini; at S 1000. per acre anil pea
lints for .111, what is this farm worth? liny a farm that yon only lend your money to. ft
will certainly pay yon back.
Don t forget the lime and place. {Make plans today to attend THIS sale. For further in
formation rcffardiim this sale or any of your real estate needs, contact
^<
Sale Agents
Roanoke Real Estate & Auction Company
I 15 Mast Main Street
Williumston, N. (1.
Phone 2077
Hear* Johnson., Mur.