The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-03-14
Especial 10 The rimes.pispatcb.,

h.
New York March l3.-Thc American
! Tobacco Company reports for the fiscal
year ended December 81 last a balance.
after interest and the payment of Pre-
fcrred dividends of s2S.oiia6s. sales
for the year amounted to sl0194S1So
and the net earnings therefrom, after
doducting all charges and expenses for
mana cement, etc. were sl4,9G4,5 o4.
leaving about II IA per cent on tile
sales.
After deductine TWO dividends Of
IL per cent. each and an extra div
idend OF - per cent. on the common
stock. amounting to sS.0iS,iSe. and ar
ter deductins s4,a6l.lsi for premium
on the per cent bonds to be retired.
less discount on the per cent,
bonds TO be retired, and after deduct
ing s3+,6:..o+9 repres&ntinc tho hook
value OF sundry stock ordered By the
court to be distributed to the common
stockholders there was left on Decem-
Der 81, profit and loss surplus OF
S+o,oso,o+s including the previous profit
and loss surplus on December 81, 1910
of S6l,lle.ao2.
1t Is stated in The report that the
capital stock OF the company, its out
standing bonds, and the average dur
ing tho year of its surplus. aggregated
S2S9.TS7.l31 and the net income of the
year. as shown above. was s35.Ss5.45e.
being about IL - per cent thereon
DlsintcErntion Accomplished.
Reference is made in the report TO
the decree Of the United states Circuit
Court providing for the disintcgration
of certain Of. its assets. and the state
ment Is made that this disintrcEation
was accomplished prior to Marca l..
reference is also made to the organ.
ization OF the Liggctt and Myers To-
oacco Company. and the LorilIard Co
according to the terms of the decree
TO which the american Tobacco Com
pany has conveyed certain factories
plants, brands and business. and the
capital stocks of tobacco manu:actur
ing companies of the aggregate value
OF s1l5,ooo.l5o. and received in pay
ment therefor I per cent. and . per
cent. bonds of the two, companies and
also thc per cent cumulative pre-
ferred stock and common stock of the
par value in the aggregate Of Sll5.-
000,ljO
Attention tent is called 70 the fact that
business on December 1. 1911. and since
that time have been selling the va
rrious brands OF tobacco purchased BY
them. the sales OF the American To,
bacco Company for the month OF De.
cemhcr necessarily decrca scd in com
parison with the same month OF 1910
1t is further explained that although
the distribution of certain stocks IN
the common stockholders OF the Amer,
lean Tobacco Company, as provided by
the decree. had not been actually com
pletcd by January /. the directors prior
to that date directed the distribution
which since has been fully accom-,
plishcd
The financial statement which the
american Tobacco Company made puI,-
lie to-day shows the condition of the
company as IL the distribution had
been completed before January l.
The stockholders arc Informed that
all of the stocks and bonds of the tvs
new companies received by tho Amer
lean Tobacco Company have been
placed With the Guaranty Trust Com
pany. which under the decree was
made the agency for transfer and
that up 10 March IL had d 'sposed OF
All Of the common stocks for ca sh
1t had also acquired for cancellation
and retirement. purity for cash and
partly for bonds OF the LiGgctt & My
e.rs Tobacco Company and the p. I,or-
IIlard COMPANY. as provided In tho
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