Detroit evening times. (Detroit, Mich) 1921-1958, 1942-10-09
On the
Business
Front
By WARD SCHULTZ
D.rron r,m.. rla.ss,.I Esnor

ton this year will do a volume
of business considerably in eN-
cess OF $50. 900. 900. or more than
double that in the ll-month
fiscal wear ended Nov 30. 1871.
This will have been made pos
sihle by successive large addl-
tons 10 plant facilities since
mid-la40
While net profit for the pine
months ended Aug ri, 1872, was
reported Al S2.52S.572 or 1888 a
common share after TAX reserve
Of $40 ee4. 2Ss. this showing was
adversely affected by retroac-
tive tax adjustment Of approx
matelv $500 900 in the third
quarter in conformity with the
Senate version of the 1912 Rev
enue Act. Net profit for this
period. therefore, was only S464,-
044 or Sis share.
Assuming that the so per cent
limitation on corporation taxes
remains IN the 1912 Revenue Act
and that Ex-CeA-Q's fourth
quarter profit before taxes
EQUALS the Si.s2e,747 reported
for the August 81 quarter, net
profit in the current period
should he approximately $685.
900 or S2.42 a share. according
10 Dow-JoneS. Inc
Such a figure, added 10 the
Sc 80 previously reported for the
nine months. plus the fact that
the corporations accounting is
usually conservative 10 the point
that there generally is credit
"a earnings at the ycar-end,
would indicate net profit for the
current fiscal year ending No
vember 80 of about So, SOC, 900 or
50 a common share
Despite the prospect OF such
excellent earnings il is not be-
licyNd that forthcoming dividend
for fourth quarter will be in
creased from 65 cents. which the
directors customarily declare
each quarter. Continuation OF
that rate would bring total dis
burSements for the year TO $3.50.
Addition of S6.4Q a share 10
working capital would be but a
continuation Of the manage
ment's conservatism. which il
may deem wise in the face OF
tax uncertainties next year and
possibility Of renegotiation OF
contracts.
The Detroit Chapter OF the
American Foundrymen's Associ-
alton has arranged an interest
ing round-table discussion OF
production problems OF the in
9ustry for next Thursday night
IN the Rackham Building
NJ is unusual in that the
round-tahle is broken up into
four parts 10 be carried on in
four separate rooms. A room
will be devoted 10 each Of the
following; steel. aluminium. mag
and hrass-hronZe.
"Steel Melting Practice" will
he handled by r. j. Wilcox Of
Steel Casting Com
PAW.
Melting Aluminium Alloys" Is
10 be conducted by a representa-
tive of Aluminium Company Of
America.
Melting Magnesium and It's
Allows" is under the direction of
A, w. Winston. consulting engi-
neer. Dow Chemical.
And Bronze Specifications
and Substitutes" round-table is
70 he led by Stuart G.. Fitzpat-
rick. vice president L. 6. Reduc-
ton Company, Chicago.
Recent transportation recula-
tons prohibiting any delivery
vehicle from stopping at given
place more than once a day pro-
vided a headache for the auto
insurance companies.
On road service calls where
the individual had only four
tires. the service truck could
take the punctured tire to the
garage for repairs but was un-
able 10 deliver the repaired tire
back 10 the motorist.
II was just one Of those things
overlooked in drawing up the
law. and an amendment finally
eased the restrictions.
A line Of "drip-proof' electri-
cal switches featuring a special
barrier arrangement 10 protect
them from the shock Of naval
gunfre has been added by
SQUARE d Company to its rap
idly expanding line Of shock
proof weatherproof or splash
proof electrical devices for naval
and marine use. The company
also manufactures industrial
electrical equipment, aircraft
flight instruments and optical
devices.