Page 35: of Maritime Reporter Magazine (September 15, 1974)

Tilston Roberts Corp.

Board Of Directors

Elects G.E. Tilston

The board of directors of Til- ston Roberts Corporation an- nounces the election of G.E. Til- ston to the position of chairman and chief executive officer.

Mr. Tilston has been president of the corporation since its in- ception.

Du Pont Offers New

Bonding Process Booklet

E.I. du Pont de Nemours &

Company has published a new brochure which describes the products of Du Pont's explosive bonding process. The booklet lists typical dimensions for plate tube sheets and welding transition joints.

Requests for the booklet should be directed to the Du Pont Com- pany, Room D-8083, Wilmington,

Del. 19898.

Texas Gas Transmission

Shows Increased Earnings

From Marine Operations

Texas Gas Transmission Corpo- ration, Owensboro, Ky., has re- ported second quarter earnings available for common and pref- erence shares of $13,369,000, or $1.41 per share, for 1974, well ahead of the $8,025,000, or $.85 per share, recorded in the 1973 second quarter.

Earnings for the six months ended June 30, 1974, of $24,701,- 000, or $2.60 per share, compared with $17,732,000, or $1.87 for the same period a year earlier.

These earnings reflect substan- tial increases from barging, oil and gas exploration and produc- tion, and general commodities trucking operations, along with an increase in pipeline earnings, a portion of which is being col- lected subject to refund pending disposition of a pending rate pro- ceeding.

For the 12-months ended June 30, 1974, earnings were $44,340,- 000, compared with $36,597,000 for the 12-month period ended

June 30, 1973. This amounted to $4.67 for the 1974 period and $3.86 for the same period a year earlier.

All results noted above are from continuing operations and exclude amounts from discontin- ued operations in periods prior to 1974.

The Gas Transmission Services

Division reported earnings of $4,566,000 in the 1974 second quarter, compared to $3,472,000 in the same quarter of 1973. The improvement included a rate in- crease which was placed in effect

April 1, 1974, subject to refund of any amounts not ultimately approved by the Federal Power

Commission, to cover increased costs of operations and financing.

September 15, 1974

The 1974 second quarter divi- sional revenues included $4,766,- 000 collected under the provisions of the application for increased rates. Against these revenues the company has provided a reserve of $1,400,000 before taxes for costs anticipated at the time of filing but which have not occurred.

The remaining revenues include higher depreciation charges of $2,730,000.

The Inland Waterways Services

Division had a very strong quar- ter, with earnings of $3,801,000 sharply ahead of the $1,436,000 recorded in the flood-hit second quarter in 1973. Excellent reve- nue gains were noted in all prod- uct areas during the period. The shipyard also showed good gains over the 1973 quarter, which was penalized by an extended rainy period.

The Oil and Gas Exploration and Production Division contin- ued its excellent progress, with 1974 second quarter earnings of $3,755,000, more than double the $1,825,000 of the 1973 quarter.

The similarly sharp increase in revenues to $18,435,000 for the 1974 period reflected, among other things, higher prices for new crude and condensate and contin- uing strength in product prices. onnson

DURAMAX PRODUCTS

For Shipbuilders Who

Build for Endurance

Water Lubricated Rubber Bearings

DEMOUNTABLE STAVE TYPE. Staves of tough nitrile rubber insert one by one to form a precision "Contour-Fitted" bearing.

Can be installed or replaced without removing shaft—reduces drydock time by half. Sizes: 2U" to 35%" (63.5 to 908.1 mm)

BRASS-SHELLED SLEEVE AND FLANGE TYPES. Exclusive "Contour-Fitted" nitrile rubber lining bonded to a rugged outer shell of naval brass. Grooved for efficient water lubrication. Sleeve or flanged types. Far outlast conventional bearings. Sizes: %" to 15" (19.1 to 381.0 mm)

SERVING THE

MARINE

INDUSTRY

Solid Bronze Stuffing Boxes

Built for endurance, heavily-ribbed for maximum strength. "Air

Seal" models fitted with inflatable seal, which allows re-packing without drydocking. Grease or combination water-grease lubrica- tion. Bulkhead models feature weldable steel flange. Packing glands are precision-machined. Sizes: %" to 15" (19.1 to 381.0 mm)

Inflatable "Air Seal" allows packing change without drydocking.

Solid Bronze Stern Castings

Exclusive short-barreled design fitted with rubber sleeve bearing allows mounting propeller close to stern-post and more room for rudder. "Forward-Flow" water scoops assure positive water lubrication for entire bearing. Heavy mounting flanges ideal for wood, fiberglass, aluminum or steel construction. Sizes: %" to 6" (19.1 to 152.4 mm)

Write for Literature re r\ rO /onnson

DURAMAX PRODUCTS

JOHNSON RUBBER COMPANY

MARINE DIVISION

MIDDLEFIELD. OHIO 44062 U.S.A. Area Code 216-632-1611 ®DURAMAX Reg. Tradename and Trademark. ®J0HNS0N Reg. Tradename. Trademark Applied For. World Leader In Water Lubricated Rubber Bearings 37