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Todd Galveston Dry Docks, Inc.-Statement of profits on billings to U. S. Navy

Department from July 1, 1940, to Dec. 31, 1941

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1 Denotes red figures.

Note.-Included in cost is overhead calculated at 55.591 percent of direct labor costs in 1940 and 61.081 percent of direct labor costs in 1941. These percentages of overhead to direct labor are as determined by the Navy Department for the year 1940 and for the 4-month period of May to August 1941. The Navy Department is presently engaged in determining overhead percentage for the entire year 1941 and if such percentage when determined is used instead of the 61.081 percent mentioned above, the above costs and net profits will probably change.

In accordance with an understanding between the company and the U.S. Navy Department, the profit on work commenced after Nov. 1, 1941, is limited to 10 percent of cost. Such costs have not yet been determined by the Navy Department, and accordingly the effect on the above figures is not now determinable.

Todd Galveston Dry Docks, Inc. --Statement of profits on billings to Government

departments other than U. S. Navy Department, July 1, 1940, to Dec. 31, 1941

Percent

Vessel No.

Billing

Cost

Profit

age of

profit to cost

U.S. Coast Guard:

1. 2

$639.26 13,997. 12

$121.87 8, 436. 27

$517. 39 5, 560. 85

424. 54 65.92

Total..

14, 636. 38

8, 558. 14

6,078. 24

71.02

45.00

16. 24

28. 76

177.09

U. S. Army:

Quartermasters Corps: 3.
U.S. Engineers:

4.
5
6.
7.
8
9
10.
11

!!!!

1, 915.00 17,781.92 207, 599. 50 41, 132. 50 48, 722.00 7, 035. 50

390.00 2, 174.00

475. 69
11, 539. 87
182, 714. 29
52, 539. 98
47, 669.28
6, 563. 71

270.81
876. 75

1, 439.31
6, 242.05
24,885. 21
1 11, 407.48
1, 052.72

471, 79

119. 19 1, 297. 25

302.57 54. 09 13. 62 121.71

2. 21 7. 19 44. 01 147. 96

Total.

326, 750. 42 302, 650. 38

24, 100.04

7. 96

1 Denotes red figures.

69657--42-pt. 4---16

Todd Galveston Dry Docks, Inc.Statement of profits on billings to Government

departments other than U. S. Navy Department, July 1, 1940, to Dec. 31, 1941Continued

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$146, 878.06 $182, 542.01 1 $35, 663. 95

189, 125. 01 227, 039.24 1 37, 914. 23
1 $406. 96 32, 114. 24 26, 478. 21 5, 636. 03
1, 739.00 13, 866. 02 11, 595. 60 2, 270.42

286. 59 1,881. 93 733. 37 1, 148. 56
1, 692. 54 14, 600. 74 10, 581. 72 4, 019. 02

6. 52 8, 062. 48 5, 746. 78 2, 315.70 7, 372.05 13, 222.95 13, 347. 12

1 124. 17 14, 610. 47 21, 659. 53 21, 224. 63 434. 90 1, 527. 21 7, 737. 79 7, 565. 31 172. 48

912.30 2, 562. 70 2, 386.62 176. 08 1, 121.98 1, 778. 02 1, 831. 83 1 53.81 1, 441.04 16, 215. 96 11, 948. 96 4, 267.00 1 257.72

10, 468. 60 9, 408. 23 1,060. 37 30, 045. 02 480, 174. 03 532, 429. 63 52, 255. 60

1 19.54 1 16. 70 21. 29 19. 58 156. 61 37.98 40. 30

1.93 2. 05 2. 28

7. 38 1 2.94 35. 71 11. 27

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19.81

Percent

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U. S. Maritime Com-
mission and others:
26

$14, 625.00 $4, 346. 62 $10, 278.38$1, 117.50 $11, 395.88 $10, 743. 81 $652.07 27

26, 128.00 6, 381.43 19, 746.57 24, 491. 90 44,238. 47 34, 591. 12 9, 647. 35 28

170, 297. 54 8,627.56 161, 669.98 770.00 162, 439.98 146, 124. 80 16, 315. 18 29

12, 286. 60 582.08 11, 704. 52 33. 25 11, 737.77 8,051. 11 3, 686.66 30

118, 329. 10 24,991. 88 93, 337.222, 929.00 96, 266. 22 79, 717.81 16, 548. 41 31.

55,600.00 22, 663. 48 32, 936. 52 15, 982. 40 48, 918.92 43, 636.44 5, 282. 48 32.

44, 954. 33 7, 137.80 37, 816.53 2, 365. 11| 40, 181. 64 34, 651.83 5, 529.81 33

261, 397. 11 123, 135. 27 138, 261. 84 527.00 138, 788. 84 102, 557.78 36, 231.06 34.

23, 083. 62 5,399. 1817, 684.44 1,683.00 19, 367.44 14, 600.92 4, 766. 52 35

12, 315.00 3,625.35 8,689. 65 20, 598.00 29, 287.65 25, 763. 66 3, 523. 99 36

12, 061.00 59.32 12,001. 68 250.00 12.251.68 11,941. 62 310.06 37

18, 850.00 6, 596. 2012, 253. 80 2,065.00 14, 318.80 11,072. 66 3, 246. 14 38

23, 355.00 948. 51 22, 406.49 105.00 22, 511. 49 20, 509. 14 2,002. 35 Total.

793, 282. 30 214, 494. 68 578, 787. 62 72, 917. 16651, 704.78 543, 962. 70107, 742.08

6. 07 27.89 11. 17 45. 79 20. 76 12.11 15. 96 35. 33 32. 65 13. 68

2.60 29. 32 9.76

19.81

1 Denotes red figures. 2 The company agreed with the U. S. Maritime Commission that for all work performed subsequent to May 1, 1941, the billings would be at the same schedule rates as those charged to Ù. S. Navy Department. The credits allowable represent the estimated net excess of billings as rendered over those at the abovementioned rates, which excess will be deducted from future billings.

Included in cost is overhead calculated at 55.591 percent of direct labor costs in 1940 and 61.081 percent of direct labor costs in 1941. These percentages of overhead to direct labor are as determined by the Navy Department for the year 1940 and for the 4-month period of May to August 1941. The Navy Department is presently engaged in determining overhead percentage for the entire year 1911 and if such percentage, when determined, is used instead of the 61.081 percent mentioned above, the above costs and net profits will probably change.

Todd-Johnson Dry Docks, Inc.-Statement of profits made on vessels on which work was completed or in process and in respect of which billings were made from July 1, 1940, to Dec. 31, 1941, for various Government departments

Billings made to

Net billings
Billings to

Credits al-
Government

to 'Govern

lowable departments

ment depart

ments

Cost

Profit

Percentage of profit to cost

23.40 37.84 20.94

U. S. Navy Department... $157, 264.13

$157, 264, 13 $127, 442.77 $29, 821.36 U.S. Coast Guard..

405, 632.86

405, 632.86 294, 275.91 111, 356.95 U. 8. Army Transport Service..

51, 699.50

51, 699.50 42, 749.40 U.S. Army Engineers Depart

8,950.10 ment..

129, 966.54

129, 966.54 133, 803. 27 13,836.73 U. S. Maritime Commission. 2, 163, 135.04 $325, 488.28 1,837, 646.76 1,610, 717.03 226, 929.73 Total.

2,907, 698.07 325, 488. 28 2,682, 209.79 2, 208, 988.38 373, 221.41

1 2.87 14.09

16. 90

1 Denotes red figures.

Todd-Johnson Dry Docks, Inc.--Statement of profits on billings to U. S. Navy

Department to Dec. 31, 1941

Percent

Vessel No.

Gross
billing

Discounts
deducted
on labor

and
machine-
tool rates

Net billing

Cost

Profit

age of

profit to cost

1. 2. 3.. 4. 5. 6. 7. 8

9
10.
11.
12.
13.
14.
15.
16.
17
18
19
20
Miscellaneous

$2, 712. 56
1, 203. 27
1, 224. 74

1, 726.16
21,428.48
2, 307.04
1, 806. 28
1,867.97
2, 590.47
20, 847.02

3,952.51 34, 389.24 26, 932. 28 14,422.97 4,136.01 2,978. 24 2, 183.77 1, 146.52 7,047.89 4,822. 34 3,392.79

$2, 712.56 1, 203. 27 1, 224. 74 1,726.16 21, 428.48 2, 307.04 1, 806. 28 1,867.97 2, 590.47 20, 847.02

3, 952.51 33, 959.66 26, 523. 96 12, 474.35 3, 542.30 2,811.21 1,858.73 1,037.00 6, 135.00 4, 131.62 3, 123.80

$1, 713. 27

999.42

710.58 1, 249.34 16, 946.57 1, 299.75

921.06 1, 151.72 1, 662.09 16, 236.09

3, 137.06 28, 184.21 20,738. 70 11, 430.78 3,027.67 2, 699.15 1, 721.49

905. 30
6,009. 94
4,186.39
2,512.19

$999. 29
203.85
514.16

476.82
4,481.91
1, 007. 29

885. 22
716. 25

928. 38
4, 610.93

815.45 5,775. 45 5, 785. 26 1,043. 57

514.63 112.06 137. 24 131.70 125.06 1 54.77 611.61

58. 33 20.40 72. 36 38. 17 26. 45 77.50 96. 11 62. 19 55.86 28.40 25.99 20.49 27.90

9.13 17.00 4.15 7.97 14. 55

2.08 11.31 24.35

$429.58

408.32 1, 948.62

593.71 167.03 325.04 109.52 912.89 690.72 268.99

Total.

163, 118.55

5,854.42 157, 264. 13

127,442.77

29, 821.36

23.40

1 Denotes red figures.

NOTE.-Included in cost is overhead calculated at 50.492 percent of direct labor costs in 1940 and 44.8508 percent of direct labor costs in 1941. These percentages of overhead to direct labor are as determined by the Navy Department for the year 1940 and for the 8-month period of January to August 1941. The Navy Department is presently engaged in determining overhead percentage for the entire year 1941 and if such percentage, when determined, is used instead of the 44.8508 percent mentioned above, the above costs and net profits will probably change.

In accordance with an understanding between the company and the U.S. Navy Department, the profit op work commenced after Nov. 1, 1941, is limited to 10 percent of cost. Such costs have not yet been determined by the Navy Department, and, accordingly, the effect on the above figures is not now determinable.

Todd-Johnson Dry Docks, Inc. --Statement of profits on billings to Government

departments other than U. S. Navy Department, July 1, 1940, to Dec. 31, 1941

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9.50 +

Total

51, 699. 50

42, 749. 40

8,950. 10

20.94

U.S. Engineers:

21.
22
23
24
25.
26

61, 236. 84
5,434.00

603. 40
56, 594. 18
2, 920.00
3, 178. 12

61, 358. 02
4, 103. 31

606. 19
62, 769. 63
2, 618. 94
2, 347. 18

1 121.18 1,330.69

1 2. 79
16,175. 45

301. 06
830. 94

1. 20 32. 43

1.46 1 9.84 11. 50 35. 40

Total.

129, 966. 54

133, 803. 27

3,836. 73

1 2.87

Vessel No.

Gross billing

Credits allowable?

Net billing

Cost

Profit

Percentage of profit to cost

36.

U. S. Maritime Commission: 27 (competitive bid).

$153, 922.75

$153, 922. 75 $184, 706. 97 1 $30, 784. 22 1 16.67 28 (competitive bid).

166, 908.87

166, 908.87 134, 559. 59 32, 349. 28 24.04 29 (competitive bid).

24, 072.80

24, 072. 80 18, 596. 24 5, 476.56 29. 45 30 (competitive bid).

22, 648. 72

22, 648. 72 18,834. 62 3,814. 10 20. 25 31 (competitive bid)

20, 048. 60

20,048. 60 14, 745.93 5, 302.67 32 (competitive bid)

35. 96 155, 800.15

155,800.15 142, 583. 53 13, 216.62 9. 27 33 (competitive bid).

24, 005. 26

24, 005. 26 18, 795.32 5, 209.94 27.72 34 (competitive bid).

31, 950. 39

31, 950.39 22, 660.39 35

9, 290.00

41.00 24, 014.00 $6,429. 14 17, 584.86 15, 508. 63 2, 076.23 13. 39

17,056.00 5, 610.67 11, 445.33 9,420.83 37 (compteitive bid).

2, 024, 50 21. 49 418,738. 12

418, 738. 12 348, 840.09 38.

69,898.03 20.04 20, 160.00 2, 501.63 17, 658.37 15,541.70 39

2, 116.67 13.62 86,902. 76 22, 389. 64 64, 513. 12 52, 424. 90 12, 088. 22 23.06 40

17, 170.00 5,859.85 11, 310.15 9, 417. 39 41.

1,892. 76 10. 10 45, 824, 58 11, 570. 96 34, 253.62 28, 215. 42 6,038. 20

21. 40 42 (competitive bid).

20,003, 40

20, 003. 40 11, 460.61 8,542.79 74. 54 43 18,650.00 6, 171.85 12, 478. 15 10, 522. 60 1, 955. 55

18. 58 44 11, 850.00 5, 457. 81 6, 392. 19 5, 132. 24 1, 259.95

24. 55 45 4, 210.00 1, 231. 43 2, 978. 57 2, 609.88

368. 69 46.

14. 13 19, 938. 00 600. 69 19, 337.31 16, 679. 63 2, 657.68 1 Denotes red figures.

2 The company agreed with the U. S. Maritime Commission that for all work performed subsequent to May 1, 1941, the billings would be at the same schedule rates as those charged to U. S. Navy Depart. ment. The credits aliowable represent the estimated net excess of billings as rendered over those at the above-mentioned rates, which excess will be deducted from suture billings.

Included in cost is overhead calculated at 50.492 percent of direct labor costs in 1940 and 44.8508 percent of direct labor costs in 1941. These percentages of overhead to direct labor are as determined by the Navy Department for the year 1940 and for the 8-month period of January to August 1941. The Navy Depart. ment is presently engaged in determining overhead percentage for the entire year 1941 and if such percentage, when determined, is used instead of the 44.8508 percent mentioned above, the above costs and net profits will probably change.

15. 93

Todd-Johnson Dry Docks, Inc.-Statement of profits on billings to Government

departments other than U. S. Navy Department, July 1, 1940, to Dec. 31, 1941-Continued

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$9, 093. 11
35, 376.62
9, 136. 02
7, 231. 14
9, 201. 26

955. 65
18, 196. 15

4, 249. 18 47, 181.97 52, 655. 80 23, 878. 58

1, 040. 57 38, 704, 94 10, 803. 79

3, 944. 24 31, 718. 78 1, 757. 20

388.04 31, 231. 03 25, 219. 05 38, 568. 87 54, 588. 71 39, 345. 98

105. 70 52, 816. 22 35, 468. 66

3, 868. 79 14, 869. 98

$8, 108. 10
28, 700.01
8, 205. 13
6, 491. 41
8, 120. 35

879, 26
16, 995. 32

3, 919. 45 43, 673. 92 30, 500.83 21, 232. 59

999. 47 36, 212.79 9, 522. 23 3, 685. 90 29, 004. 53 1, 649.00

381. 74 28, 382. 12 22, 988. 00 35, 209. 68 50, 648.03 36, 194. 49

100. 95 47, 593. 03 32, 666. 63

3, 528. 29 13, 367. 27

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Total

2, 163, 135. 04 325, 488. 28 1,837, 646.76 1,610, 717. 03

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i Denotes red figures.

Bureau of Ships--Navy Type

(1-1-42)

All public vouchers for payment under this contract should include a reference to NObs-51 (formerly NOd-2197)

CONTRACT NObs-51 (FORMERLY NOd-2197) FOR SHIP-REPAIR FACILI

TIES BETWEEN THE NAVY DEPARTMENT AND TIETJEN AND LANG DRY DOCK COMPANY

This CONTRACT made as of the 20th day of September 1941, between the UNITED STATES OF AMERICA (hereinafter called the Government), represented by the Chief of the Bureau of Ships of the Navy Department acting pursuant to authority, vested in him by the Secretary of the Navy (hereinafter called the Secretary), and TIETJEN AND LANG Dry Dock COMPANY (hereinafter called the Contractor), a corporation organized and existing under the laws of the State of New Jersey, and having its principal place of business at Hoboken, New Jersey, WITNESSETH:

WHEREAS, Congress has provided that, whenever the Secretary finds it impossible to make contracts or obtain facilities for the procurement or construction of items authorized in connection with national defense, he is authorized to provide, out of appropriations available to the Navy Department for such purposes, the necessary land, buildings, facilities, utilities and appurtenances thereto, and to operate them, either by means of Government personnel or otherwise; and

WHEREAS, the Secretary has found it impossible, except in the manner hereinafter provided, to make contracts or obtain facilities for the procurement, construction, repair or conversion of naval and other vessels or portions thereof, which are essential to the national defense; and

WHEREAS, the Secretary has determined that, in the national emergency declared by the President on September 8, 1939, and May 27, 1941, to exist, the public exigency requires that the items specified in Schedules 1 and 2 attached hereto (hereinafter called the “Facilities”), be provided at Hoboken, New Jersey,

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