THE WALL STREET OF CHEMISTRY - C&EN Global Enterprise (ACS

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December 10, 1941

NEWS

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E D I T I O N

1433

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Write for Bulletin No. 2 44 8-D.

ILLINOIS T E S T I N G LABORATORIES, I N C .

BlSIiBllgaimKi^i^^!S»^^ifWi December Journal of Physical Chemistry

429 N . LaSalle St.

Chicago, I I I .

THE WALL STREET Of

1 H E December issue of The Journal of Physical Chemistry contains t h e following articles a n d reviews of new books:

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E. D . PARSONS, H . H . CUDD, AND H . L .

LOCHTE. Synthetic Corrosion Pits and the Analysis of Their Contents. C.

BURKE

M I L E S AND H E R S C H E L

Heats of Combustion. bustion of Acetone.

HUNT.

I. Heat of Com­

S. W E L L E R AND J . FRANCK.

Photosynthesis

in Flashing Light. RALPH E . MONTONNA AND L. T . J I L K .

The

Action of Light on Cellulose V I . A Method for t h e Measurement of the Os­ motic Pressure of Colloidal Solutions. F. W. BERNHART. The Effects of Heat on Dry Proteins. I. The Kinetics of the Formation of Insoluble Egg Albumin. W. G. EVERSOLE, G. H . WAGNER, AND G. C .

BAILEY Surface Tension, Liquid Den­ sity, and Vapor Density of Sulfur Dioxide Solutions of Potassium Thiocyanate a t 10°. 15°, 20°, and 25° C. W. G. EVERSOLE, J. DONALD PETERSON, AND

H. M . KINDSVATER. Diffusion Coeffi­ cients in Solution. An Improved Method for Calculating D as a Function of Concen­ tration. CHARLES J. PLANK AND H E R S C H E L H U N T .

Rate of Inversion of Sucrose as a Func­ tion of Dielectric Constant of the Solvent. -S^yS-

T H E Premier Mill Corp., announces t h a t its Chicago office is now located a t 332 South Michigan Ave., where F . T . Greaves and H . W . M u n d a y are established.

T h e Abbott Laboratories a r e consider­ ing a plan for t h e issuance of 30,000 shares of authorized b u t unissued preferred stock and possible retirement of t h e present 12,922 shares of 4.5 per cent preferred outstanding. T h e proposed new issue would be a nonconvertible 4 per cent, SI00 par value. If p u t into effect, t h e plan would make available additional working capital to provide expansion occasioned by a n increase in sales about 25 p e r cent ahead of 1940. During t h e nine months ended Septem­ ber 30, n e t profit was Sl,814,901 after charges a n d provision of §1,418,900 for federal income a n d excess profits taxes. This is equal t o $2.34 a share on common and compares with net profit of §1,815,192 or $2.34 a share in the first nine months of 1940, after provision of $772,763 for taxes. Aggressive development of t h e m a r k e t in Latin America has proved a factor i n the growth of t h e company. A new plant has been opened in Mexico City, and sales branches are maintained in t h e principal South American centers. T h e Canadian headquarters in Montreal have recently been enlarged. Directors of M e r c k & Co., I n c . , sub­ mitted to stockholders a proposal t o issue

dates

For the first nine m o n t h s of 1941 orders booked by the Westinghouse Electric & Manufacturing Co. reached a record high of $450,242,292, a 7 2 p e r cent increase over the corresponding period of 1940. Provision for federal normal t a x a n d ex­ cess profits tax came t o $29,442,045, a 356 per cent increase over t h e 1941 figure. Net income for the first nine m o n t h s of 1941 amounted to $15,860,252, a gain of 9 per cent over 1940. E m p l o y m e n t is a t an all-time peak. T h e company plans to use money from the sale of additional stock t o p a y off $21,000,000 borrowed for working capital and to add the balance to the cash surplus.

BSaiela M3XEIIS For Chemicals and Food

IMPORTANT Publication a n d closing N e w s Edition

and sell an additional $5,369,000 of 4.5 per cent cumulative preferred stock in a re­ capitalization plan outlined November 12. The sale of preferred stock will provide additional working capital for t h e con­ tinued expansion in operations and enable the company t o p a y off existing bank loans. A special meeting of t h e stock­ holders was held December 3 t o vote on the plan, as well as o n t h e proposal t o re­ duce the dividend o n present preferred stock from 6 t o 5.25 per cent a n d raise t h e call price of this stock from $115 t o $120 a share for a period of three years.

o i the §

Issue οί the 10th closes— 25th of preceding month S Issue of the 25th closes— 10th of the month

Specially Designed Double Spiral AGITATORS WET—DRY or LIQUID MA TERIALS Constructed rigidly For continuous operation — Efïective power transmission arrangement, together with massive bearing supports a n d foundation. Stainless Steel, Monel Metal and non-corrosive Linings on specification. Built from SO-ib. Batch to 4-ton Batch Capacities Write for B u l l e t i n "SUCCESS"

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ICRUSHÊPS'PULyERIZEHS'CniHPEPSf

' Established in 1 8 8 5 '

GRUENDLER CRUSHER and PULVERIZER CO. 2921-23 N . Market S t . St. Louis» M o .

NEWS

1434

Vol. 19, No. 23

EDITION

Plant Executives Gather at Monsanto Conference P l a n t managers and operations e x e c u t i v e s of the M o n s a n t o C h e m ical C o . gathered a t t h e c o m p a n y ' s Central R e s e a r c h D e p a r t m e n t , D a y t o n , Ohio, for a t w o - d a y conference in N o v e m b e r . Pic-

Synthetic Magnesite Plant /"CONSTRUCTION work for the new plant ^ of the Northwest Magnesite Co. is actively under way a t Cape May Point, N. J. T h e company, jointly owned by the Harbison-Walker Refractories Co. and General Refractories Co., has acquired the rights in t h e United States t o the Chesny process of producing synthetic magnesite for refractory purposes. T h e process has been applied in England on a large scale and has rendered that country independent of imported magnesite of natural origin, formerly obtained from Austria and Manchuria. To operate the Chesny process, the company has acquired a large tract a t Cape May Point, together with extensive deposits of dolomite rock in eastern Pennsylvania, located conveniently for shipment either by rail or by rail and water. T h e capacity of the first unit will be approximately 40,000 Aic*i tons per annum. T h e layout, however, is such that additional units may be added as necessity requires.

from

tured a b o v e is Jay C . Harris describing the work t h a t is b e ing done in his laboratory t o Herbert J. Krase, A . T . Beauregard, E . A . O'Neal, F . N . Williams, L. K. Cowie, H . F . W e a v e r .

Owens-Corning Fïberglas Marks Third Anniversary

This process, protected by United States a n d foreign patents, consists essentially in replacing t h e lime content of calcined dolomite rock by magnesia through reaction with sea water. I t s commercial success is t h e result mainly of specialized knowledge of the involved crystallography of magnesium hydrate. This compound in its usual form is a gelatinous substance exceedingly difficult to filter. Only by t h e application of a highly specialized technique can i t be produced in a crystalline, readily filterable state a n d easily separable from sea water and the salts dissolved in it. T h e Office of Production Management has granted priorities to permit t h e completion of the plant within six months. During the late fall of 1939, t h e Northwest Magnesite Co. materially increased the capacity of its plant a t Chewelah, Wash. Still further facilities, including a system of concentration by flotation, have been under way for several months, and have nearly doubled t h e capacity prior to 1939.

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| ^ Λ Ν NOVEMBER 1, 1938, following seven ^^^ years of collaborative research and development activity by the Owens-Il­ linois Glass Co. and t h e Corning Glass Works, t h e Owens-Corning Fiberglas Corp. was organized. Celebrating its third anniversary, the company has issued an attractive brochure, discussing t h e progress t h a t has been made, and reprint­ ing interesting advertisements t h a t sig­ nalized its achievements during t h e period, and the varied applications of its products. Robert J. Howison h a s been appointed sales manager of t h e Automotive Divi­ sion, Morse Chain Co., Detroit, Mich. John J. Perkins, for t h e past year an in­ structor in biochemistry a t t h e Army Medical School, h a s accepted a posi­ tion as research chemist with the White Laboratories, Inc., Newark, N . J.

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