Evening star., 1938-04-21
SHELL UNION OIL
EARNS $2,9D7,47
Quarters Net Compares
With $3,674,479 for Same
1887 Period.
BY the Associated Press.

by INC hSSCClAted ITeSS.
NEW YORK, April 21.-Shell I'm
ion Oil Corp. reported today net in
come before provision for Federal un-
distributed profits surtax of $2,907, AT,
equal after preferred dividend re-
quirements to 19 cents share on the
common stock, for the quarter ended
March 81. This compares with $3,-
674,479, or "a cents a share, the same
period of 1887.
r. G. A. van der Woude, president,
addressing the annual meeting OF
stockholders, warned the oil industry
to bring gasoline stocks down to more
normal levels
I'm view of present business condi-
tions," Mr.. van der Woude said, 1.-The
industry would be well advised to make
its estimates on more conservative
basis. A revision upward could always
easily be made at later date, once
actual conditions justify It,"
He said that. generally. too opti-
mistic views are being maintained
about the future demand for gasoline,
adding:
1t would be well in the interests
Of the industry as a whole and the in
terests of steady employment if such
optimism were somewhat moderated" !"
Agricultural Chemical.
American Agricultural Chemical Co.
reported for the nine months ended
March 81 net income of S427 $3.50, be-
fore provision for Federal surtax, equal
to s2.03 share on capital stock. This
compared with $665,42 or S3.l5 a
share, for the nine months ended April
i, 1887. Properties are located in
Atlantic Seaboard territory and Mid
west.
Plymouth Oil.
Plymouth Oil Co, Texas oil pro-
ducers, reported today net income for
the quarter ended March 81 Of $702,-
1872, or SO cents common share,
against s640,32O, or 81 cents a share
in the like 1887 quarter.
Mead Corp.
Mead Corp. and subsidiaries, paper
manufacturers, reported net profit
before Federal surtaX of Sl53,939,
equal to cents a share of common
stock, for the IL weeks ended March
l9 last, compared with s550,7l6, or 81
cents a share in the corresponding
period of 1887.
Motor Products Corp.
Motor Products Corp, manufac-
turer of automobile equipment, with
principal plant in Detroit, reported
net profit of s37.s67, equal to 9 cents
common share. for the quarter ended
March 81, compared with S703467, or
81 ls0 a share in the first quarter of
1887.
General Baking.
General Baking Co. reported a net
profit of s322,8l7. equal to cents
share, for the quarter ended March
81. This compares with a net Of
sls3,572 for the corresponding quarter
last year, which was equal to less
than ! cent a share.
Reynolds Metals.
Reynolds Metals Co.. whose principal
plant is located in Louisville, KY. re-
ported net profit OF sl.515,922, equal
to sl20 share of common stock, for
the year 1887. This compares with
s2,l72,033, or sl96, for 1896.
Creole Petroleum.
Creole Petroleum Corp. controlled
by Standard Oil Co. of New Jersey,
reported 1887 consolidated net income
of s1l,2l8,752, equal to ST. a share
on capital stock. This compared with
S8,596. .448, or sl23 share, in 1886.
Company's properties are in Venezuela.
John r. Thompson.
John r. Thompson Co., national
restaurant system, reported first
quarter net loss of ss463a, compared
with S7985 year ago Gross sales
totaled s2eo3,522, compared with So
0l9,429 the first quarter of 1887. Direc-
tors took no dividend action.