Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1916-01-17
NEWARK PLANT
FIGURES IN BIC
CHEMICAL DEAL
Butterworth-Judson Concern Is
Sold for More Than
100000.
FIRM REORGANlZED;
CAPITAL So, 500, 900
Noted Financial Men in Trans
action-Joseph A. Durkin to
Remain Vice-President.

Announcement was made today Of
one of the most important deals in
years in the chemical manufacturing
trade and in which Il Newark con-
Germ is the main factor. The concern
is the Butterworth-Ju -Judson Company,
which has a large plant on the Pas
sale river near the Newark transfer
station of the Central railroad. Back
of the deal are some of the foremost
men of the financial world
The final papers in the transaction
We're signed Saturday and as a result
the Butterworth-Jud Company of
New Jersey is taken over by the But
terworth-Judson Corporation OF New
York. II is understood that the pur-
chase price WIS more than 81 100000.
The new corporation has an author
lied capital stock of $2,500 900 pre-
ferred stock, of which $1,000, 900 has
been paid in. The $500, 900 balance of
the preferred stock will be held in
the treasury for future use. There
will be issued 5000 shares of COM
mon stock.
The Butterworth-J -Judson Company
littS bttII AlbiIE a. llthlthupllS OuollltSS
OF late as result of an extraordinary
expansion in export orders. The con-
Germ for years has been manufacture
ing sulphuric acid and other chem
icals for the manufacturing trade
here and abroad. 1t has an Office at
60 Wall street, Manhattan.
Placed Contracts.
When the war began the Newark
firm received increased orders from
American houses that had connec-
tions abroad. Joseph A. DurlNin, of A
) Nairn place, this city, vice-president
and general manager of the firm, as
I we'll as part owner, Immediately took
advantage Of the situation by placing
! at favorable prices contracts with
supply houses in this country. II Is
understood that as a result of his
foresight he placed the Butterworth-
Judson concern in most command
ing position in the chemical trade.
The local plant was Immediately
enlarged under the direction of Mr..
| Durkin, and is now said to be of fully
ten times greater capacity than il y as
| two years ago. Recently the concern
| awarded contracts for the erection OF
more new buildings sthat win cost 4
large amount. IT also has purchased
additional meadow property along the
, Passaic river for future use, If found
necessary.
Everly NJ. Davis. formerly of Los
/ Angeles, was president of the Butter
worth-Judson Company, of New Jer-
/ sey Mr.. Durl1in ras president
and general manager, the two men
! being in absolute control. In the new
/ company Mr.. Durkn will be vice
/ president He also will continue active
/ In the general management, at q
large salary. Mr. Davis will become
member of the board of directors.
Born in Twelfth Ward.
Mr.. Durkin is n native of this city.
lie was born in the Twelfth ward.
and entered the employ of the
/ Butterworth-J -Judson Company about
eighteen years ago as an office boy, at
a salary of $3.50 per week. He was
educated at st Aloysius' School, and
after leaving there to go to work at
/ the ButterWorth-Jud plant studied
at night at the Newark Technical
School. He was graduated from that
, school, and then entered Cooper In
stitute at New York. He also spent
four years in night study Mt Cooper,
and was graduated as a chemist. This
course afforded him the necessary re-
quirements for later taking hold as
superintendent of the Butterworth-
Judson plant. 1t is said that he now
ranks as one of the leading chemical
experts of the country.
Besides Mr.. Davis and Mr.. Durkin,
the board of directors of tho new
Butterworth-Judson Corporation con-
sists of Guy e. Tripp. chairman of
| the board of directors Of the Westing-
house Electric and Manufacturing
Company; Albert II. Wiggin, presi-
dent of the Chase National Bank, of
New York; stephen b. Gleming. presi-
dent of the International Agricultural
and Chemical Company; W. B.
Thomson, prominent New York
| financier; Thomas L. Chadbourne jr.,
e. e. Mitchell. w. V. y. Powelson,
| W a. Bradford and John j. Wat
son, jr.
Mr. Powelson was elected president
/ of the corporation and N. w. Run
Mon was elected secretary and treas
urer