The Algona Upper Des Moines from Algona, Iowa on May 2, 1957 · Page 19
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The Algona Upper Des Moines from Algona, Iowa · Page 19

Algona, Iowa
Issue Date:
Thursday, May 2, 1957
Page 19
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Snap-On Net Up 55% First Quarter of 1957 At the annual meeting nf stockholders of Snap-on Tools Corporation, one of the country's largest producers' of automotive rrH maintemnoo tools and eauip- ment. held last Friday at Ken- r>sh;i. Wisconsin, a number of in- I'.vp.stiPT reports and proposal;: were released. Represented at the meeting in person or by proxy wore over 97 per cent of the holders of the company's stock. Those present heard reports oi a record-breaking 1956 and further improvements in the first quarter of 1957. Also brought before the stockholders was the board of directors proposal for - - - »-- W W 9 ••• Company Stockholders Vote 2 For 1 Common Stock Research Bldg. Planned For Unnamed Site Split On May 31 a 2-for-l split of the company's outstanding common stock. President Johnson announcer! that consolidated net sales for the first three months of 1957 were $8,250.000, en increase of 22 per cent over sales for the same period of 1057. Net income for the company, for these same months, came to a figure of $608,800, as compared with $390,800, or an increase of 55 per cent over the comparable period oi 1950. The 2-for-l stock split of Snap- on Tools Corporation common stock is to be accomplished by the distribution of a 100 per cent dividend on May 31st, to stockholders of record on May 17. The board of directors alsu declared a cash dividend on the shares oustanding after the spliUup of 30 cents per share, payable June 14, to stockholders of record May 31. All present directors of Snap- on Tools Corporation were reelected. They are: Joseph Johnson, Rogers Palmer, Victor M. HBW RESEARCH BUILDING Mr Johnson, president of Snap-on tools, at the meeting expressed the opinion of manrgsmenl thai the balance of 195? will continue to show a good gain in sales over the comparable period of 19SS. He announced no new major factory building expansion plans under consideration for 1957, but did however note thai a new building at a site not yet announced is undsr consideration for the use of the grcwing research devol- opmenl a n d experiinenir.l section of the Engineering department. Kain, William C. N^mi!:-.. W .W Daniel, nil of Kenosh:), Wi.^con sin; Win. Seidcmunn, Milwaukee, Frank H. Wendell. St. Louis, Newton E. Tarble, Los Angelt-s. and Henry E. Lee, Chicago. Officers of the company reelected were: Joseph Johnson. president: Rogers Palmer, vice- president In charge of sales; Victor M. Cain, vice-president' arid controller; W. W. Daniel, vice- president in charge of research and development; Alfred M. Jem sen, vice-president and works manager; Wm. C. Nemitz, treasurer and financial officer; Robert L. Grover, secretary and general counsel. Show Snap-On Tools, Japan The Toyo Trading Company, Snap-on Tools Corporation representatives in Japan, recently displayed Snap-on tools at the Japanese Trade Fair held in Osaka. fhousands visited the Snap-on bDolh. The foreign company not only represents Snap-on products tc the Japanese industrial military trade, but also to the Japanese military and the United States armed forces stationed there. 40 YEARS At New Sharon, Mr and Mrs A. J. Hollebrands have recently observed their 40th anniversary in business in that community. Firm's Prosperity Is Employees 1 Best Security "Our Company's Prosperity I? Our Best Security!" That is the slogan of both the- .Snap-on Tools Co. and the Wei- dcnhoff Corporation, and it is one that has contributed to expansion of the parent company, as well as solid growth of the Algona subsidiary. Each week a new poster appears emphasizing some point of the slogan. The posters are placed in conspicuous spots to emphasize with employees thai when a company itself is solid and grows, the value of the jobs held by employees grows correspondingly and are made more secure. Among the topics in the post series based on the slogan, an? "Competition", "Customer Satisfaction", "Skill and Ability", "Pride of Performance", "Team* work", "Wasteful Practice s", "Rumors', "Safety" and similar CONGRATULATIONS To One Of Our * Favorite Customers! 1 Year Old! It is with real pleasure — and pride in our community — that we offer this salute to Weidenhoff Corporation t>n their "first birthday" as a subsidiar)|of Snap-on Tools Corporation of Kenosha, Wisconsin. The contribution being made to the economy of our community by the sound development of this corporation, as emphasized locally by the remarkable growth in number of employees, is something that captures the^interest of every citizen, and betokens well for our community's future. As a utility serving the public we count all of our 'customers' as important. . , and we are pleased that our product, Natural Gas, has in the past year been instrumental in the growth and progress of Weidenhoff Corporation. NATURAL GAS -r it has taken many years, much perseverance, and hundreds of millions of dollars to turn what was a 'pipedream' yesterday into the incredible pipelines of today, Incredible is the word for it ... when you realize it took engineers 100 years to figure out how to transport Gas just a few hundred miles . . . and more years to start delivering it even 500 miles away. Yet a bare 20 years after the first 300-miler, look what has happened. The Big Inch alone is almost 2,000 miles long. That is just one pipeline out of a network that now totals 251,000 miles, and is growing at the rate of 15,000 miles a yeai*. Wherever a housewife needs natural gas to prepare a roast<- or where- ever industry needs natural gas in its intricate modern- day operations — there you will find it. I SERVING THE COMMUNITY WITH ElECTRlC gOWER, AND WATER FOR RESIDENTIAL, COMMERCIAL AND INDUSTRIAL PURPOSES ~~ WEIDENHOFF CORPORATION * Another Asset To Our Community The 'report of progress' presented in these pages, as achieved by Weidenhoff Corporation in its first year as a newly-organized subsidiary of Snap-on Tools Corporation, is certain to be of great Interest to all our citizenry. Your municipal utilities takes pride in the fact that it has been equipped to meet, in both power and water fields of service, the increased requirements of Weidenhoff Corporation, and also in the fact that we stand ready in the same way to keep pace with future growth of the community. On this significant occasion, sincere congratulations are offered to the officers, staff and employees of Weidenhoff Corporation . . . and in the same friendly spirit, to the officers, staff and employess of Snap- Tools Corporation, in all their plants. NATURAL GAS SERVES HOME-. BUSINESS - INDUSTRY NORTH CENTRAL Public YOUR 0 AS 109 South Harlgn to Co. COMPANY Algong, Iowa ALGONA MUNICIPAL UTILITIES Allen K. Buchanan, President M- Joseph Bradley C. R. T. James Palmer, General Superintendent Ira Kohl, Secretory

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