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EDITORIAL. 
SWISS AND GERMAN DYESTUFF PROFITS. 
A report recently issued by the largest of the Swiss coal-tar colour 
firms, the Society for Chemical Industry, Basle, shows a net profit of 
£345,000, as against £248,000, and proposes a dividend of 15 per cent., 
as against 274 per cent. last year. In addition a free bonus share is 
being allotted in respect of every three shares already held. The 
capital will then amount to £800,000. The balance-sheet of the 
Badische Anilin und Sodafabrik, Ludwigshafen, one of the large 
German concerns, shows a net profit of £1,350,000, as against £542,000 
last year. It is proposed to pay a dividend of 18 per cent. as against 
12 per cent. The capital is £3,625,000, as against £4,500,000, and it 
is proposed to raise it to £9,000,000. The report states that the works 
at Ludwigshafen and Oppau were closed from November, 1918, to 
June, 1919, owing to lack of coal, and since then only a small part of 
the plant has been working. Owing to the fall in the exchange value 
of the mark it has been possible to dispose of their stocks of dyestuffs 
to foreign buyers at prices which yielded handsome profits. ‘Towards 
the close of the financial year the Ludwigshafen plant for colour mak- 
ing had again to be dropped, owing to the coal shortage, but it was 
possible to keep the acid plant working, and so maintain the production 
_of the nitrogen factory. The balance-sheet issued by the chemical 
works formerly Weiler-ter-Meer, Uerdingen on the Rhine, shows a 
net profit of £129,000, as against £57,000 last year. A dividend of 12 
per cent. is being paid, as against 10 per cent. The firm of Kalle and 
Co., Biebirch-on-Rhine, is paying 14 per cent., as against 7 per cent. 
last year. Profits are all estimated at the pre-war rate of exchange. 
RESIGNATION OF PROFESSOR MASSON. 
Owing to the alterations made in the Bill for the permanent estab- 
lishment of the Institute of Science and Industry, which is now before the 
Federal Parliament, Professor Masson has resigned from the Advisory 
Council and from any participation in the activities of the Institute. 
The nature of the changes are explained in the leading article of this 
issue. In his letter of resignation addressed to the Prime Minister, 
Professor Masson pointed out that the Government did not before 
making these changes consult the Advisory Council, its Executive Com- 
mittee, or himself, as its chairman (and also chairman of the original 
committee of conference); nor was the executive informed of them till 
after the Bill had passed its first reading. Professor Masson stated, 
moreover, that the effect of the changes would be to destroy the safe- 
guards which were provided by the original scheme. “ ‘These, as you 
will remember,” he wrote, “ were accepted by yourself in January, 1916, 
after full discussion with my committee, and were subsequently approved 
by your Cabinet. They were designed to insure that the directorate 
would be strong on the scientific as well as on the business side, and thus 
be truly representative of both science and industry, and also that it 
would be constantly in touch, through the local Advisory Councils, with 
the leaders of science and of industry in all parts of the Commonwealth. 
Tf the Bill passes in its present form, the Institute will consist of one man, 
who can hardly be expected to combine in his own person all the essential 
qualifications, and who, if selected on account of his training in practical 
business, will not command the confidence and support of the scientific 
community.” 397 
