Evening star., 1942-07-23
Shell Oil Co. Reports
HaIf-Year Earnings
OF S7,228,950
Net Is Less Than in l94l,
Fuel Situation Grove,
OfficiuI Worms
b the Associated Press.

OIIlCl0I warns
b the Associated Press
NEW YORK, July 23.-The Shell
Union Oil Corp. reported today half
year earnings of $7,228 $50. or SIS
cents a share, compared to 81 .829 .946
or 60 cents share, in the like 194l
period.
Beginning January the company
took into account only dividends re-
ceived from its subsidiary, Shell Pipe
Line Corp. and several partly ly-oWned
affiliates. Formerly it took into in
come its full equity in earnings Of
those companies.
R. G. A. Van Der Woude. presi-
dent. emphasized the seriousness of
the fuel oil situation.
oil companies, who have spent
years to build up a fuel oil market
in the Eastern territory" he said
would not be urging their Gus
toners to convert their heating units
from fuel oil to coal unless the situa-
ton was of great concern"
Regarding synthetic rubber. Mr..
Van Der Woude said Shell had one
butadiene plant in operation and
another larger plant, to be built for
the Government, was expected to be
completed by mid-l943
Eaton Mfg. Co.
. Eaton Manufacturing Co. reported
today for six months ended June SC
net income of S2,064 1886, equal to 50 SO
a share on the capital stock, COM
pared with $1,979,764, or s26l a
share, In the first half of 194l.
General Baking Corp.
General Baking Corp. estimated
net income in the first Is weeks OF
1912 at 1902 ,281, equal to % cents a
common share, against 1889 ,122, or
cents a share, in the comparable
weeks of 1941.
M. A. Hanna T. Co.
M A. Hanna & Co. reported for
the June quarter net income of
sl,029.S71, equal to IS cents a COM
mon share, compared with 1925 1888,
or IS cents a share, a year ago.
u. n. hlnney a. 20.
G.. r. Kinney e. Co. reported for
the first half of 1912 net income of
S305 1927. equal to 81 cents a COM
mon share, against $207 1871, or 10
cents a share, last year.
Otis Elevator.
Otis Elevator Co. reported for six
months ended June 80 net income
OF $1,575,507, equal to 50 cents a
share on the common stock, COM
pared to $1490,4l9 or 64 cents, in
the l94l period.
Air Reduction.
Air Reduction Co., Inc, and sub
sidiaries reported net income for the
auarter ended June 30 was $l,322,-
S75. equal tn 48 cents a common
share. Compared with adjusted net
income of s1,7475O4, or "a cents a
share, in the like quarter of l941.
Air Reductions consolidated net
income for the first six months.
after provision for taxes and con-
tingencies, was s2,818.423, or $l.03
a common share, compared with
adjusted net income of $3,337 .756,
or SLIP share, in the first half
Of last year.
Standard Brands.
Consolidated net income of Stand
ard Brands, Inc, for the first half
OF 1912 was estimated today at
81, ,864,e77. before provision for pos
sible future inventory loss, against
81 1903 573, for the comparable l941
period.
James S. Adams, president, told
directors such income would equal
1909 cents e common share, COM
pared with $3.50 in the 194l period.
Directors, however authorized an
appropriation of $1,5O0,0OO as of
June 80 TO provide for possible
future inventory losses. Directors
had authorized $4.O0O,OOO for the
same purpose last December 81.
The profits were on net sales for
the first hal of $68,214.605, the re-
port said, against s58,85l, ATT in the
like period OF 194l.
Wrigley Co.
VIM. Wrigley, Jr.. Co. reported
consolidated net profit after depre-
citation and provision for all taxes
for the siX-month period ending
June 80, 1912. of $2,968,601. This
was equivalent to $l.5l per COM
mon share and compared to 4,438.-
98l. or $226, during the correspond
ing period year ago.
Texas Gulf Sulphur.
The Texas Gulf Sulphur Co. re-
ported today for the quarter ended
June 30 net earnings of $2,368 ,653
after all charges including Federal
income and excess profits taxes at
present rates. equal to 81 cents a
share, compared to $2,598 $40 or SO
cents share in the like ls4l period
Hercules Powder.
The Hercules Powder Co. for the
half year ended June 80 reported
net earnings of $2.l95,l ,l30 after an
estimated s11,907,636 of Federal
taxes and provision of S350,000 fol
contingencies equal, after preferred
dividends, to STAT common share
This compared to net profit OF
32,83l ,l89 after estimated Fedora,
taxes of $4,7l5,742. or $l95 share
A.