Masonry Magazine September 1965 Page. 30
$3 Million Bond Required
Judge Peirson M. Hall of the U.S. District Court in Los Angeles has set a deadline of September 22, 1965, for the McCulloch Motors Corporation to post a $3 million bond that would suspend an injunction enjoining it from further production of saw chain covered by a patent held by Omark Industries, Inc.
Edward P. Skralskis, Omark executive vice president, said that the judge authorized the injunction requiring McCulloch to halt saw chain production on August 5, 1965, and this injunction was subsequently stayed by him through September 22, 1965.
Alpha Portland Report
Alpha Portland Cement Company reported that a strike which has now been settled, severely depressed earnings in the second quarter. The company earned 17 cents a share, on 1,806,870 common shares outstanding, compared to 49 cents a share on the same number of common shares outstanding in the same period last year.
Net income for the second quarter totaled $304,000 compared to $888,000 for the like period last year. Revenues for the quarters ending June 30 were $10,620,000 compared to $12,494,000 for the same quarter last year.
Natco Sales Improved
NATCO Corporation showed improved sales and earnings for the six month period ended June 30, Ja T. Bolan, Chairman, reported in a statement to shareholders.
Net sales and other income in the six months ended June 30 totaled $6,665,548 for an increase of $690,799 or approximately 12 per cent compared to the similar figure of $5,974,749 reported for the same period in 1964. The company earned a profit of $9,343 for the first six months of 1965 whereas the same period in 1964 showed a net loss of $75,927. In 1964, there was income amounting to $94,566 from a gain on the sales of property and there was no such income in 1965. In other words, operations showed a loss of $170,493 in 1964 compared to a net profit of $9,343 in 1965 on operations. Due to depletion allowances, no provisions are made for federal income taxes.
Koehring Sales Up
Koehring Company's 1965 sales will probably rise to $145 million with profits between $7½ and $8 million, Julien R. Steelman, company president, told the New York Society of Security Analysts. Last year, the Milwaukee-based firm reported shipments of $114.5 million and $6,000,000 net profit. With 2,107,000 currently outstanding shares of common stock, per share earnings will be between $3.55 and $3.60 compared with $3.08 on the 1,859,918 shares outstanding in 1964.