Page 14: of Maritime Reporter Magazine (April 15, 1969)

Ijtteljall Irokmgf Ittr. insurance ^Brokers attfcr ^frerage JVbjustcrg 17 Battery Place, New York, N. Y. 10004 212 WH 4-9055 Telex 62204 Cable Hallbrok, N. Y. WORLD WIDE CORRESPONDENTS London Associate Eberli, Shorter & Co. 6 Lloyd's Ave. London, England RODERMOND the diversified shipyard MARINE INSURANCE SPECIALISTS ? Professional Analysts ? Creativity ? World Markets Specialists in all types of structural steel construction Drydocking? 4 floating drydocks to 4000 tons capacity 24 Hour Pierside Service ? Machine Shop ? Structural Steel Construction T FOOT OF HENDERSON STREET, JERSEY CITY, NJ. 07302 201-332-3300 "Our congratulations to Henry Gillen's Sons Lighterage on the addition of the new "Gillen Brothers" to the growing Gillen fleet." Tankers. Dry Cargo Vessels. Tugs. Barges. All Types of Floating Equipment. Take advantage of our diversified marine experi-ence for insurance coverage tailored to meet your particular needs. Todd Shipyards Corporation Listed On N.Y. Stock Exchange Todd Shipyards' President John T. Gilbride (center), be-ing welcomed by New York Stock Exchange President Robert W. Haack (left) and Jules R. Huber, of Ling & Company, Inc., specialist in the Todd stock. Todd Shipyards Corporation was listed on March 25 on the New York Stock Exchange. The stock was assigned ticker symbol TOD. Todd's president, John T. Gilbride, in ob-serving a tradition of the Big Board, opened trading with the purchase of the first 100 shares of his company's stock for his wife. Todd will list 1,593,418 shares of common stock previously listed on the American Stock Exchange. Founded in 1916, but with a history through predecessor companies reaching back to the Civil War, Todd operates seven shipyarc^s in major U.S. ports on the East, Gulf and West Coasts. It is one of the world's prime builders, repairers and converters of oceangoing vessels and its Nuclear Division services atomic-pow-ered vessels and other nuclear installations. Additionally, the company specializes in both marine and industrial heavy fabrication, and through a subsidiary firm, Lester Engineering Company, Cleveland, Ohio, has diversified into the production of metal die-casting and plastic injection molding machines. Todd has over 10,000 employees and its stockholders number slightly over 3,000, hav-ing increased 10 percent since the 2-for-l stock split in June, 1968. Sales for the fiscal year ending March 31, 1968 totaled $194,124,444, compared with $.159,-008,655 for the previous year. Earnings were $4,930,955 or $3.38 per share against the $4,556,760 or $3.12 per share registered in fiscal 1957. For the six months ended September 30, 1968, sales totaled $101,370,483 and net income $2,290,919 or $1.57 per share, compared with $91,970,608 sales, $2,198,201 net income or $1.51 per share for the previous year. Martinolich To Build Largest Tuna Seiners The Martinolich Shipbuilding Corporation of Tacoma, Wash., recently was awarded a contract for the construction of two 212-foot long super tuna seiners, which will have a carrying capacity of 1,300-tons of tuna. These will be the largest vessels that have ever been designed and built for the tuna fishing fleet. The seiners will have a beam of 42 feet and a depth of 21 feet. The vessels are of "V" bottom, double chine construction and will be powered with a 3,600-hp, 20-cylinder General Motors, Electro-Motive diesel, swinging a 125-inch, 5-bladed stainless steel propeller. The vessels are being built for Joe Rogers and Associates. The first one is to be delivered 16 months from the signing of the contract. The auxiliary equipment includes Caterpillar diesels and generating sets. 16 Maritime Reporter/Engineering News