The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-07-20
omitted. hut included IN the totals.
The Last Two Years.

For tho fiscal year ending June "a.
1902. tile statement srA,Ws net earnings
amounting 70 s3,4sl,as43s out Of which
were paid s1,s2os4e IN dividends on the
preferred and common stocks, leaving a
balance of s1.65l, 1853 a
AnSsstit of s7.ooo.voo collateral trust five
per cent. ten-years bonds was made for
the purpose of paving III full for all the
properties acquired. and also reinlburs-
Ing the cash working capital for pay
ments heretofore made on that account.
Oh June /. 1902. the dividend onGthc coin-
mon stock was Increased from four per
cent. to five per cent per anilum. This
was the best year III the company's his-
tory, the common stock selling as high
as IS ga and the preferred stock selling at
1874 rs.
The statement Of business for the next
year. ending June IA, 1908 showed the
great output OF the company at 9s3,G34
tons OF fertilizers and chemicals Of dit
Kinds. and the balance sheet showed:
ASSETS.
Cash .....................$1 ], 913, Dos
Bills receivable ................... 4,513.974
Accounts receivable .............. 3.91s,s35
Merchandise on hand ............ 5.637, 45s
Investments in other companies, 27.1s9, 1853
Plants, mines and lands ........ 1,039 467
Brands, trade marks, etc ........ 3.34S, 800
;si, so0.s27
LIABILITIES.
Preferred stock ........... .......$ l2, 900. 900
Common stock ......................T,9 S4.400
Bonds Observation-Disclosures. 7.90O,0 900
Bills Il payable ..................:a.4,19 4.2 60
Accounts payable i. ................ a. POS, 462
Due subsidiary companies ........ 4,5s1253
Undivided profits 46s5.534
jn 81 g44!i IS *
ss1, Zoo, SCI
Sundry small items on both sides being
omitted, but included III the totals. @
The net po fits of the company, accord
Ing to the official statement, amounted
TO s2,506,3lB.S6 out OF which were paid
{256s,62o, in dividends on It's preferred
and common stocks. and interest on Its
bonds. leaving a balance OF only s27,-
1924. The smallness Of the balance COM
PEELED tho company In August, 1903, to
arrange for a loan OF Sc, 00O,0 900 at {. cost
to 1t Of nearly eighteen and one-halI
per cent. in commissions, bonus and In
s5terest, and thereafter the dividends on
the common stock were passed and have
rot since been resumed. Its common
stock which had sold as high as 66 5ts
IN February, 1908, sold down as lowl ns
20 ~ In Novmber Of the same year.
the preferred stock. which had been to
12s 1-2, selling as low as 20 per share.
Last Issue Of Stock.
In April, 1904. the directors recommend
ed an Issue OF $4,000, 900 5so OF pref erred
stock, s6,o0O.O0O OF which was to be at
once issued, and 81, 600 900. OF which was
to be issu ed at not exceeding 500 900 per
annum hereafter, which issue was N a p
proved and authorized by the stockhold-
Sers on May ] s, 1904. 4! AZ the same time
the net earnings Of the company, includ-
ing It's subsidiary companies, we're esti-
mated at 50, $50. 600 for the fiscal year end:
ing Juno Is. 1904. The estimate q ftel'
deducting interest upon the bonds. and
dividends on the preferred stock, would
leave 100000 for the common shares.
The financial statement for the year
ending June is, 1904 which was printed