The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-03-12
Fifteen New Names in
Directorate of Ameri-
can Tobacco Co.
MEETING WILL BE
HELD TOMORROW
Plan of Distribution of Excess
Profits Will Be Decided On.
Richmond to Have New
Plant OF Patterson Com
pany, and Another Gig
arctic Factory.
Especial to TIC Times -Dispatch.)

Especial to TIE Times Dispatch)
New York. March fi.-Thc annual
meeting Of the American Tobacco Com
pany viii be held OH Wednesday In
Jersey City. In addition 20 the sub
mission Of the annual report to stock
holders live new directors Will be
chosen to take the places OF Paul
Brown. Thomas T. Ryan. T. y. b.
Widcner, b. q. " iacner. Q. II. Payne.
This means that Of the new board
there viii be only thirteen members
WHO constituted the board q year ago.
There are twenty eight members Of
the American Tobacco directorate
seven OF tho old directors Of tho
American Tobacco Company, however
are with affiliated companies, having
gone on the boards OF the n.ggett and
Myers and p. Lorillnrd Compa MES.
These Include c. c. Duia. T. -. Du!a,
L. y. Lewis and W. K. Irby, who are
now with the Liggctt and Myers Com
pany, and r. j. Maloncy, tiarbc-. Kings
bury and T.. *. Smith with the p
Lorlllurd Company. TIL. other va
cancies have been caused by the res.g-
nations of James Il. Duke, W. p. Har-
:is, and r. A.. Patterson, change of
fifteen all told.
me report Oh Inc american
Company for the fiscal year, whic.l cor
responds with the calendar year, will
include the earnings OF Tho old
American Tobacco Company for the
full eleven months. December earn
.ngs however, will not be complete,
as the reorganization of some OF the
subsidiary concerns became operative
during that month. This means that
the earnings report Will include for
In nI,-s Il
retained h. the American Tobacco
Company ss shorn OF many of its sub
salaries.
Distribution of Profits.
There is one matter to be considered
by the stockholders at the annual
meeting of interest to the entire to-
bacco world. This concerns the distri-
button of excess profits over the previ-
GUS year among certain of the officers
az outlined in the notice TO sharehold-
ers. This plan. IL is expected, will be
similar III many ways 10 tina. adopted
hy the American SNUFF Company, ez-
cept that more will share III the dis
tribution.
In the case of the American Snuff
Company, the president and three vice
presidents will share equally in the
- per cent. excess OF profits as COM
pared with the preceding twelve
months. The provision does not 20
into effect until next year. and
naturally VIII be for only the brands
retained by the American Snuff Com
pany after the disintcsration.
In the case Of the American To-
bacco Company there Will be more
TO share in the distribution. There are
i've vice-presidents, each one the head
OF certain departments-plug, leaf, etc
While nothing definite can be learned
as 10 the proposition. II is said that
the plan will call for the distribution
of IL per cent. TO the president OF
the corporation, and IL per cent. 10
each OF the yice-presdents,
This, it is thought. would he a fair
distribution, the added duties OF the
chief executive of the big corporation
emitting him 10 a larger share than
those directly below him.
To Enlarge Patterson Plant.
NJ, C. Patterson. president of the
company and vice president of the
American Tobacco Company says
there is nothing iii reports that the
4. y. Patterson Tobacco Company will
1c transferred TO Louisville. following
he change OF q portion of the bus
ness OF the company to that city. The
business Will remain in Richmond He
lid state. however, that the reason
or the pdrtial transfer was That a
lew plant would be erected In Rich
nond to take care Of the increasing
business. The Patterson Company
manufactured about 100000 pounds
IF smoking and plug tobacco last year.
Two Richmond factories have a COM
oined capacity OF approximately TO-
100000 pounds. which means that all
III excess of that amount will he for
the near future made up In Louis
vile.
REORGANIZATION OF the American To-
bacco Company means the transfer of
the Allen &c Glnter branch in Rich
mond to the Liegett 6. Myers Tobacco
Company.
Thus the American Tobacco Com
pany was left without a cigarette fac
tory in Richmond to compete with the
L'ggett & Myers Company. Mr.. Pat
tcrson says that Il cigarette factors.
To offer competition undoubtedly would
be erected, but he does not know just
when.
stockholders of the p. Lorillard
Company and the Liggctt & AIyers
Company will also consider the matter
Of sharing assets at their annual meet
ing within the next week.
Effective competition. il is estimated,
will be effected BY the plan. and officers
OF the American Tobacco Company
and affiliated concerns state this is
the only reason for tho plan.