1
 The chemical industry is expected to report 
5002
attribution

2
that profits eroded in the third quarter 
5002
span

3
because of skidding prices in the commodity end of the business.
2
consequence-n

4
 Producers of commodity chemicals, the basic chemicals 
5003
span

5
produced in huge volumes for other manufacturers, 
4
elaboration-object-attribute-e

6
have seen sharp inventory cutting by buyers.
5004
Same-Unit

7
 Once the chief beneficiaries of the industry's now fading boom, these producers also will be reporting against exceptionally strong performances in the 1988 third quarter.
5005
elaboration-additional

8
 For some of these companies, this will be the first quarter with year-to-year negative comparisons, 
5007
span

9
says Leonard Bogner, a chemical industry analyst at Prudential Bache Research. 
8
attribution

10
This could be the first of five or six down quarters.
5007
hypothetical

11
 Perhaps most prominent, Dow Chemical Co., 
5010
span

12
which as of midyear had racked up eight consecutive record quarters, 
11
elaboration-additional-e

13
is expected to report 
5011
Same-Unit

14
that profit decreased in the latest quarter from a year earlier, if only by a shade. 
5012
span

15
Though Dow has aggressively diversified into specialty chemicals and pharmaceuticals, 
5015
concession

16
the company still has a big stake in polyethylene,
5015
span

17
 which is used in packaging and housewares.
16
definition-e

18
 Analysts' third-quarter estimates for the Midland, Mich., company are between $3.20 a share and $3.30 a share, 
5017
span

19
compared with $3.36 a year ago, 
5018
span

20
when profit was $632 million on sales of $4.15 billion.
19
circumstance

21
 A Dow spokeswoman declined to comment on the estimates.
5017
elaboration-additional

22
 At the investment firm of Smith Barney, Harris Upham & Co., the commodity-chemical segment is seen 
5022
span

23
pulling down overall profit for 20 companies representative of the whole industry by 8% to 10%.
22
manner

24
 You will find the commodities off more than the others and the diversified companies about even or slightly better, 
5023
span

25
says James Wilbur, a Smith Barney analyst.
24
attribution

26
 First Boston Corp. projects 
27
attribution

27
that 10 of the 15 companies it follows will report lower profit.
5026
span

28
 Most of the 10 have big commodity-chemical operations.
5026
explanation-argumentative

29
 Still, some industry giants are expected to report continuing gains, 
5029
span

30
largely because so much of their business is outside commodity chemicals.
5037
span

31
 Du Pont Co. is thought to have had steady profit growth in white pigments, fibers and polymers.
5034
span

32
 Moreover, the Wilmington, Del., company is helped 
5033
span

33
when prices weaken on the commodity chemicals 
5030
span

34
it buys for its own production needs,
33
elaboration-object-attribute-e

35
 such as ethylene.
5031
Same-Unit

36
 Analysts are divided 
37
attribution

37
over whether Du Pont will report much of a gain in the latest quarter from its Conoco Inc. oil company. 
5038
span

38
The estimates for Du Pont range from $2.25 to $2.45 a share.
5085
span

39
 In the 1988 third quarter, the company earned $461 million, or $1.91 a share, on sales of $7.99 billion.
38
comparison

40
 Du Pont declined to comment.
5040
elaboration-additional

41
 Monsanto Co., too, is expected to continue reporting higher profit, 
5043
span

42
even though its sales of crop chemicals were hurt in the latest quarter by drought in northern Europe and the western U.S.
41
concession

43
 The St. Louis-based company is expected to report again 
44
attribution

44
that losses in its G.D. Searle & Co. pharmaceutical business are narrowing.
5044
span

45
 Searle continued to operate in the red through the first half of the year, 
5046
antithesis

46
but Monsanto has said 
47
attribution

47
it expects Searle to post a profit for all of 1989.
5046
span

48
 Most estimates for Monsanto run between $1.70 and $2 a share.
5050
span

49
 A year ago, the company posted third-quarter profit of $116 million, or $1.67 a share, on sales of $2.02 billion.
48
comparison

50
 Monsanto declined to comment.
5049
elaboration-additional

51
 But the commodity-chemical producers are caught on the downside of a pricing cycle.
5057
span

52
 By some accounts on Wall Street and in the industry, the inventory reductions are near an end,
5054
span

53
 which may presage firmer demand.
52
interpretation-s

54
 But doubters say 
55
attribution

55
growing production capacity could keep pressure on prices into the early 1990s.
5055
span

56
 In the latest quarter, at least, profit is expected to fall sharply.
5057
evaluation-s

57
 For Himont Inc., how far down it is, 
5059
span

58
we don't know, 
57
attribution-n

59
says Leslie Ravitz at Salomon Brothers.
5059
attribution

60
 The projections are in the neighborhood of 50 cents a share to 75 cents, 
5061
span

61
compared with a restated $1.65 a share a year earlier, 
5062
span

62
when profit was $107.8 million on sales of $435.5 million.
61
circumstance

63
 Himont faces lower prices for its mainstay product, polypropylene, 
5064
Temporal-Same-Time

64
while it goes forward with a heavy capital investment program 
5064
Temporal-Same-Time

65
to bolster its raw material supply
5065
List

66
 and develop new uses for polypropylene, 
5067
span

67
whose markets include the packaging and automobile industries.
66
elaboration-additional-e

68
 The company, 
5068
span

69
based in Wilmington, Del., 
68
elaboration-additional-e

70
is 81%-owned by Montedison S.p. A., Milan, 
5071
span

71
which has an offer outstanding for the Himont shares 
5070
span

72
it doesn't already own. 
71
elaboration-object-attribute-e

73
 At Quantum Chemical Corp., New York, the trouble is lower prices for polyethylene, higher debt costs and the idling of an important plant due to an explosion.
5078
span

74
 Some analysts hedge their estimates for Quantum, 
5075
span

75
because it isn't known when the company will book certain one-time charges.
74
explanation-argumentative

76
 But the estimates range from break-even to 35 cents a share.
5077
Contrast

77
 In the 1988 third quarter, Quantum earned $99.8 million, or $3.92 a share, on sales of $724.4 million.
5078
elaboration-additional

78
 Another big polyethylene producer, Union Carbide Corp., is expected to post profit of between $1 a share and $1.25, 
5081
span

79
compared with $1.56 a share a year earlier, 
5082
span

80
when the company earned $213 million on sales of $2.11 billion.
79
circumstance

81
 Himont, Quantum and Union Carbide all declined to comment.
5080
elaboration-additional

5001
span
5005
span

5002
span
5001
span

5003
span
5004
Same-Unit

5004
multinuc
5001
circumstance

5005
span
5006
span

5006
span
5009
Topic-Comment

5007
span
5008
span

5008
span
5036
span

5009
multinuc
5025
span

5010
span
5011
Same-Unit

5011
multinuc
14
attribution

5012
span
5016
span

5013
span



5014
span
5012
explanation-argumentative

5015
span
5014
span

5016
span
5020
span

5017
span
5019
span

5018
span
18
comparison-e

5019
span
5016
evaluation-s

5020
span
5008
example

5021
span



5022
span
5024
span

5023
span
5022
explanation-argumentative

5024
span
5028
List

5025
span
5053
Contrast

5026
span
5027
span

5027
span
5028
List

5028
multinuc
5009
evaluation-s

5029
span
5053
Contrast

5030
span
5031
Same-Unit

5031
multinuc
32
contingency

5032
span



5033
span
31
elaboration-additional

5034
span
5039
Contrast

5035
span



5036
span
5009
Topic-Comment

5037
span
29
explanation-argumentative

5038
span
5039
Contrast

5039
multinuc
5040
span

5040
span
5042
span

5041
span



5042
span
5052
List

5043
span
5045
span

5044
span
5048
span

5045
span
5049
span

5046
span
5047
span

5047
span
5044
interpretation-s

5048
span
5043
elaboration-additional

5049
span
5051
span

5050
span
5045
evaluation-s

5051
span
5052
List

5052
multinuc
30
example

5053
multinuc
5084
span

5054
span
5056
Contrast

5055
span
5056
Contrast

5056
multinuc
51
explanation-argumentative

5057
span
5058
span

5058
span
5074
span

5059
span
5060
span

5060
span
5063
span

5061
span
5060
evaluation-s

5062
span
60
comparison

5063
span
5073
span

5064
multinuc
5066
span

5065
multinuc
5064
elaboration-object-attribute-e

5066
span
5072
span

5067
span
5065
List

5068
span
5069
Same-Unit

5069
multinuc
5066
background

5070
span
70
elaboration-additional-e

5071
span
5069
Same-Unit

5072
span
5063
elaboration-additional

5073
span
5080
List

5074
span
5053
elaboration-additional

5075
span
5077
Contrast

5076
span



5077
multinuc
73
evaluation-s

5078
span
5079
span

5079
span
5080
List

5080
multinuc
5083
span

5081
span
5080
List

5082
span
78
comparison

5083
span
5058
example

5084
span



5085
span
5039
evaluation-s

