The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-02-13
THE BIG TOBACCO TRUST
ANNUAL MEETING or AMERICAN
TOBACCO COMPANY.
The Net Earnings for the Year After
Deducting Expenses Nearly
100000.

NpWark, ~ j., Feb 12 The annual
meeting Of the American Tobacco Com
pany was held here to-day Shares to
the number Of 100000 Of the 477.O0O
were represented. The meeting ap-
proved the manner in which the board
Of directors had conducted tho busi-
ness during the year, and ordered that
date Of the annual meeting be changed
from the second Wednesday in Feb
rtiafy to the second Wednesday i'm
May. Several changes in the rules
were made. The report Of the treas
urer was as follows:
Real estate, machinery. fixtures, leaf
tobacco, manufactured stock, operat-
ing supplies, patents, trade marks, etc,
$36, ,977, 1875; stocks in foreign COM
panies, 81 ,264,6 cash, $500, ,538; bills
and accounts receivable, S1,740, ,2S9:
total assets, $40, 49,, ,6O7
Liabilities; Capital stock common,
S17,900,000; common scrip, S273, 900;
preferred, Sf1, ,935, 600; preferred scrip.
S1s2, 900.
Provision for regular quarterly di-
vidend: On preferred stock payable
February 5, 1896, S242,3 $40; accounts
current, payable, $585, 5,562; accrued con-
signees commissions, $500, ,479; adver-
tising fund, $434,45 total liabilities.
S32, 1925
Balance, $8,600,371
Surplus: AS per statement December
81, 1894, $7,19s,290; net increase in
1895, $l,042,0s1; total, 81, 8,60O,371.
The report OF the Treasurer further
says:
During the year the business md
assets OF Thomas H. Hall Il Co, Of
New York manufacturers Of HaIPs
'Bctween the Acts ii. Ellis e. Co.
Of Baltimore; ii w. Myer Tobacco
Manufacturing 90, of New York and
the james q. Butler Tobacco Co. OF st.
Louis, We're purchased by the compa-
ny, for which it paid SI,540.0 900 each.
a213,Oo0 common scrip and sI82. 900
preferred scrip. The scrip may on or
before Jan. ]. 1897 be retired at par. or
he converted into stock at the option
OF this company The company has
also invested during the year S450.00O
in the stock Of foreign companies
bringing up its holdings of those .se-
curitics TO $l,274,G55. thereby securing
permanent valuable interests abroad.
The company has expended during the
year Sl,0iS,000 in the deyelOpment Of
the plug business which has been de
Quoted from the profits of the year.
The present output of plug is at the
rate Of 100000 pounds per month. be-
ing an increase over that OF 1894. of
100000 per month"
The net earnings of the year, after
deducting all charges and expenses Of
all kinds, was $3,971 ,521, out of which
there have been declared four quarter
ly dividends of two per cent each on
the preferred stock amounting to
,440, leaving $3,013, ,081.55 to be APP
Piled to the surplus account and the
payment OF dividends on it's common
stock. A nine per cent dividend on it's
common stock has been declared. This
amounts to St,611 900 The terms Of
the directors were extended so as TO
suit the new date for the annual meet
ing.
The directors elected to-day were for
three years: Lewis Ginter, James II.
Duke, Benz N. Duke, VIM. A. Marburg,
George Arents, For two years-Geo.
w. Watts, w. II. Butler, John Pope.
For one year-Geo. w Gait, james q.
Butler, John Doerhoefer, Josiah
Browne
The directors viii meet tomorrow
to elect officers III was stated to-day
that there would be no opposition to
the election OF James b. Duke as Pres
ident and the other officers would
probably be reelected