Word: vauclain
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Blunt, two-fisted Samuel Matthews Vauclain has been President of the Baldwin Locomotive Works, with plants at Philadelphia and Eddystone, Pa., since 1919. During the early post-War years his company continued supplying U. S. and foreign railroads at large production and large profit. In 1923 its profits reached the tidy sum of $11,931,521. But in the next year the railroad equipment market throughout the world was beginning to show demoralization. Baldwin's profits for 1924 were only $1,920,026. But stored surplus was $18,367,268. The profit showing was not seriously groaned...
...last year was really a bad year for Baldwin. Mr. Vauclain has just had published to stockholders the year's statement, as of Dec. 31. Profits were only $196,563 net-the lowest since 1912. That meant only 81? a share on the $20,000,000 of 7% preferred outstanding. But the 1925 common and preferred dividend requirements amount to $2,800,000. The difference had to come from the surplus fund, leaving therein a balance...
Said President Vauclain: "Throughout the year difficulty was experienced in obtaining, at any price, sufficient business to operate our workshops and maintain an irreducible minimum organization. Trade relations with foreign countries were sustained and improved. Workshops and machinery have been fully maintained and the transfer of equipment and operations from our works in Philadelphia to Eddystone continued. Your management considers the outlook favorable for a satisfactory business throughout the year...
...metric system is wide and notable. It includes among scientists Thomas A. Edison, Luther Burbank and Glenn H. Curtiss. It includes Leonard Wood and Admiral Sims. It includes Elihu Root, John Barton Payne, Newton D. Baker and William G. McAdoo. It included John Hays Hammond and Samuel Vauclain. It includes Arthur Brisbane and Dr. Frank Crane, and includes General Pershing, who saw the A. E. F. acquire the use of it in France and found it both convenient and not too hard to learn. Its proponents argue for it that no country that adopted the metric system has ever abandoned...
Such a statement is a peculiar background for a violent rise in Baldwin common on the Stock Exchange, yet just this movement occurred. The cause lay in the announcement by resident Samuel M. Vauclain that the Baldwin Locomotive Co. had perfected a new Diesel oil-burning locomotive, which would burn the cheapest type of crude oil, and effect a saving in fuel bills of from 25 to 50% over coal-burning steam locomotives. The new engine has resulted from experiments conducted by Baldwin over . The past ten years. Disclaiming stores that the new Diesel locomotive would "revolutionize the locomotive industry...