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Third largest of U. S. flour milling companies, Commander-Larabee Corp. (headquarters: Minneapolis) last week became a little bigger by a strategic purchase. It acquired, for an undisclosed price, G. B. R. Smith Milling Co. of Sherman, Tex., which has a 2,000-bbl. daily flour production and a million bushels storage capacity for wheat. Its location assures Commander-Larabee of a supply of Gulf grain and cheap water transportation to the Atlantic Seaboard. With the addition. Commander-Larabee has 14 flour mills with a 40,000-bbl. capacity and storage space for 30,000,000 bu. Commander-Larabee plans...
Commander-Larabee has suffered with the decline in flour from about $7 per bbl. in 1929 to around $4 now. Its bond interest has been defaulted and a financial reorganization is being worked out. One of its best known brands is Airy Fairy cake flour, a competitor of General Foods' Swans Down. A new product is ready-to-bake Airy Fairy Kwik Biskit, over which General Mills and Washburn Crosby filed a suit charging infringement of its Bisquick trade mark. Commander-Larabee promptly filed a $1,000,000 counter suit...
Although it is expected that 1932 gasoline demand will show a decrease from last year-the first recession ever recorded -the industry last week was in better shape than for some time. From last summer's lows of around 20? per bbl. petroleum has risen slowly until last week, when it stood at 86?. Still a critical factor is the prodigious East Texas field, now 20 months old. Its production is controlled by the Texas Railroad Commission. Last week 160 new wells were completed in this field, bringing the total to 5,442. Its average daily flow...
...acres of oil land (principally in the Tampico territory), 750 mi. of pipe lines, 65 mi. of railroads. In Venezuela: 3,100,000 acres of oil & gas land in the Lake Maracaibo District. On the island of Aruba, D. W. I.; a refining plant of 115,000-bbl. daily capacity. At Hamburg: an asphalt plant. On the high seas: 29 tankers of 1,700,000-bbl. capacity. These are the principal foreign properties of Pan-American Petroleum & Transport Co., 95%-owned by Standard Oil of Indiana. Last week Indiana's President Edward George Seubert was thinking of these properties...
...production ran at a daily average of 2,168,935 bbl., an increase of 11,305 over the week before. Latest export figures showed December shipments at 87,000 bbl. daily, lowest since...