Libbey to Levis

Last week able William Edward Levis, head of Owens-Illinois Glass Co., took over Libbey Glass Manufacturing Co. Libbey makes tumblers, glasses, finger-bowls, pitchers, all manner of glass tableware, is not to be confused with Libbey-Owens-Ford which makes plate glass. With the glass business, like the bottle business, boomed by Repeal, Libbey should earn about $500,000 in 1935. Mr. Levis paid for the Libbey company with 47,200 shares of Owens-Illinois stock which closed last week at 106 and so constituted a $5,000,000 consideration. Libbey will operate as an Owens-Illinois division with President Joseph W. Robinson continuing as its head.

Owens-Illinois makes more than 40% of all U. S. bottles. It turns out some 300,000,000 beer bottles, some 550,000,000 liquor bottles per year. The company made money and paid dividends through every year of Depression and for the twelve months ending Sept. 30 showed a $7,894,000 profit. American Can and Continental Can have recently invaded Mr. Levis' territory with their production of beer cans but Owens-Illinois does not worry much about the canned-beer menace, thinks the glass container so much cheaper than the tin container that no serious competition should result. Mr. Levis differs from the older generation of bottle-makers in seeing the bottle as a package and in merchandising it as a container that permits full product visibility.

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