New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-11-06
HIGHLY PHOSPHORUS CONCERN
ANNUAL MEETING OF THE AMERICAN COTTON
OIL COMPANY.

OIL COMPANY.
The annual meeting of the American Cotton OIL Com
many a. Guttenburg y. j.. yesterday resulted III the
roeec;on Of all the old officers. There was perfect
unanInty on all lsestons considered RESOLUTIONS
vere atoned thanking Edward d. Adams Chairman OF
the BOARD Of Directors for his efficient management OF
the compapy,e Frances IN his report fer thu year
Chairman Adams speaks Of The difficulties when Dc
set the business at the start. and ADDS,
rhe fiscal wear OF the allied companies was closed
without a dollar Of liability loans or bills payable
accounts to any outside Of the oIgahzatoh' mere
,,ore 81 80 6O6 IN bank. The quick assets on hao'
including the cash. amounted 70 too2o'S'o' Inc eii
fire real and personal property l. absolueIy Iiee '
mortgaCo len or pledge Of any kind Inc ohcA III
,sted with cas- receipts and disbursements have oeeh
bonded With responsible guarantee corporations ITO
being bonded TO the aggregate amount OF Sloo"voo'
For the fiscal wear ended August 81. the profts OF
. comnauy after chtrging oil all expenses o. manu-
featuring and operation repairs to Keep uie "ou'o
nropefiles in the highest state OF enceney pau VI
doubtful trade accounts. etc, were IL ''o-'ho ~
EXPENSES of administration and agencies ana
entoniber amounted to S57o1s7, leaving net prohtS
., =, 200 oo4 This is equivalent 20 per cent on
the preferrtd and about IL per cent on The common
tock The net earnings retained, however ior
wor,dng capital. The balance Of profit and loss &C
count 10 August 81, 1901. shows:
The net accumulated profits to Aug 81 1890 AK s31 80
From Sa T. this there has been deduct.d for Dc,
preclltlon OF propertie. and ekpenss VI 1o.7,5 40
n.benture Bond issue, ETC. the sum OF 100. -
So 1902 5s5 90
Ne, nroas for the year ending Aug 81 1871 900 oo "a
as above '--'----.-
Vet accumu lated profits 10 Aug 81, Oo29209
Mr. Adau,s's report tess at length the Work uoho
in reducing expenses, improving the personnel oil
an. orcau,zation, extending the business haANle
Fnropean alliances and in every way advancing ue
nonusrity Of the products and the strength Of 'ne
company 4 careful appraisal Of the buildnsS' Nt'
estate and other properties shows The tangible sSsetS
20 have a cash market value Of Sl5,'13SJo' ms
report says: -. .,.,,,o,
The volume Of the annual business OF the OreahI''on
Indicates IL. importance Of the largest distributors
"a money for wages supplies In sixteen different ea
from Rhode Island and Illinois down the Atlantic ee1
80 and the Valley Of the Mississippi To the Mexican
Guf II gave employment during the past active season
~ ahout 900 men IL dsbursed during the past year j"
this country about sis ooO 600 cash for raw mata'
wage. transportation, advertising, and general EXPENSE
and received in actual essh s20oo0OoO for us pFoa
net. sold al home abroad The transportation OF tne
material. and products Of this organization ranks hea' "
inheritance in the South that OF cotton us exports
an important In turning the balance OF Aoe
v ard this eountry. Its industry Is National It's en-
by local Federal protection means ses
prosperity and National westh.