Business & Finance: Naval Stores

Last week Newport Industries, Inc., one of the two principal U. S. companies producing naval stores, reported earnings of $295,117 for 1935, as against $161,619 the year before. This indicated no 1935 boom in the sales of ships' logs, rigging or hardtack but the gradual upswing of a modern and highly unmaritime industry. Newport industries, like its only big competitor, Hercules Powder Co., sells products distilled from the pitchy roots of Southern pines. Like Hercules, it has striven throughout Depression to diversify these products and find new uses for them. But while Hercules'...

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