Salt Lake Telegram | 1932-04-13 | Page 18 | Close up of-

Close Up Of Of- Of WILLIAMS SHERWIN COMPANY Analysis by Standard Statistics Co Profit margins on Sherwin Wil hams liams company's quality products are being well maintained re reflecting re- re fleeting benefits realized from low commodity costs as well as improved organization efficiency Sales however are arc continuing the downtrend evidenced since the beginning of the depression and probably are causing a further moderate contraction of earnings While betterment In Inthe inthe the concerns concern's position must await revival of general business activity activity ity the favorable past earnings record and dominant trade status presage substantial profits gains under more normal circum circum- stances Net Income for the fiscal year ended August 31 last was equivalent to 1962 a share on the preferred and on the common as compared with 2386 arid and respectively for forthe forthe the preceding 12 months Although Although Al Al- though an accurate earnings estimate estimate esti esti- mate cannot yet be made for the current year because of the ab absence absence ab- ab sence of Interim reports it is believed believed be be- that returns will be moderately rood mod lower than in the last fiscal period This company rated as the worlds world's largest manufacturer of paints varnishes and related products has a well integrated organization embracing all activities activities ties from the mining of raw materials ma ma- to the distribution of finished finished fin fin- products New building construction accounts for a relatively relatively rela rela- small portion of demand the bulk of sales going into maintenance and repair work Export trade is smalL The financial finan cial position is strong