LeTourneau Tech's NOW, Volume 1, Number 12, March 28, 1947 Page: 3
9 p. : ill.View a full description of this periodical.
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$28,296,946 Sales On
'46 Financial Report
The year 1946, which put postwar
models of LeTourneau equipment on
the springboard ready for the plunge
into the 1947 markets, which intro-
duced the Tournalayer house-build-
ing machine and the factories at
Longview, Texas, and Stockton-on-
Tees, England, and which was beset
by national coal, steel and other
strikes and shortages that sharply
curtailed production, ended for Le-
Tourneau much better than was an-
ticipated.
The annual report, newly released
by Treasurer Merle R. Yontz, shows
net sales of $28,296,946, against man-
ufacturing, experimental and develop-
ment expenses of $25,206,800, leav-
ing gross profits of $3,092,146. After
selling, administrative and general
expense and other charges, including
expenses preliminary to operation of
new plants, are deducted from gross
profit on sales and other income, and
tax carry-backs of $1,645,493 are
added, the profit and loss statement
ends with a profit figure of $670,232,
balance carried to earned surplus.
Common and preferred dividends in
1946 were $672,125.
Assets at the year end totaled
$30,547,920; liabilities $9,661,121;
4 making the net worth S20,866,799.
The current assets include an item
of $15,542,098 for inventories, which
will aid materially in realizing sub-
stantial sales in 1947 on the new line
of equipment.
Some actual additional assets, not
included in the bare balance sheet
figures, are about $5,600,000 worth
of plant, machine tools and other fa-
cilities and equipment which were
procured for war production and com-
pletely amortized during the war
period. And carried on the books at
a valuation of $1 are more than 200
American patents a n d over 200
patents issued by other countries, cov-
ering LeTourneau products and tools.
During 1946 LeTourneau spent
about $3,500,000 for fixed assets, in-
cluding plant facilities and machine
tools for production of the new
equipment.
GIESZL, STILLEY IN ENGLAND
Charged with the projects of getting pro-
duction rolling in the English plant and with
engineering the British AEC diesel engine
(6 cylinder 9.6 litre direct-injection) into
the C9 Tournapull, Ray Gieszl, former
Vicksburg general manager, and Herschel
Stilley, design engineer, are spending sev-
eral months in England.-K `
Holding the gun aimed for an hour
would not give a better chance to hit
the bullseye than aiming properly
and pulling the trigger right now.
I have seen men ponder and pon-
der and ponder over such obvious
Scripture verses as "If thou shalt con-
fess with thy mouth the Lord Jesus,
and.shalt believe in thine heart that
God hath raised Him from the dead,
thou shalt be saved;" and then put
off the decision; their feet on the
threshold of eternal life, yet hesitat-
ing to enter.
I have seen Christians go back
again and again to some promise in
the Word of God; some definite prom-
ise that plainly applies to their cir-
cumstance or problem-and, teeter-
ing between faith and doubt, hesitate
to take God at His Word.
In heavenly as in earthly affairs
when we have a decision to make
we ought to weigh carefully all the
factors, think through t h e conse-
quences of the several alternatives,
decide, and then act. The only way
to make a better decision is to get
more information on the case-if
more is needed. If we keep changing
directions, it will take longer to reach
our destination, or we may never get
there.WHEN you make a measurement,
if you do it carefully once you
can't do it any better if you do it ten
times more. Many, many times when
I have given a shaft to a machinist
and asked him to duplicate it I have
seen him follow this procedure: First,
"mike" the old shaft; then get a piece
of steel for the new one, center it up,
put it on the lathe and take a cut.
Then, evidently saying to himself,
"Let me see, I'd better measure that
old shaft again to be sure I get it
right," he mikes it again. Then he
turns the new piece down to within
about .010" of size and, fearing lest
he should make a mistake, gets out
the micrometer and measures the
shaft again.
The first measurement once care-
fully done, I claim, is as good as the
last.
The other day I watched a fellow
put a piece of work in a hacksaw. He
clamped it up, then measured it at
least four times before he decided
it was the right length, then started
to saw it off. I am glad to see careful,
conscientious workmen; but once is
as good as four times.
I have seen a would-be marksman
aim a gun for a half minute, then pull
the trigger; but I have watched a real
marksman draw a bead and fire.
yStudents in the mechanical drawing class are shown at work. J. L. Harrison, the instructor, is shown assisting
a student in the rear of the classroom.Mechanical Drawing Class at Work
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LeTourneau Technical Institute. LeTourneau Tech's NOW, Volume 1, Number 12, March 28, 1947, periodical, March 28, 1947; Longview, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1526544/m1/3/: accessed July 11, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting LeTourneau University Margaret Estes Library.