Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1914-11-10
SALES LESS But
CONDITION GOOD
Moline Plow Company Comes
Through Adverse Year in
Best of Shape.
STILL PAYING DIVIDENDS
No New Construction Planned, How
ever. and Policy for New Year
Will Be Conservative.

Sales OF the Moline Pillow company
fell of 100000 during the last year.
according to the annual report which
has just appeared. covering the period
ending July 81. The company reduced
its surplus to some extent. but it con
tinued to make money and will pay
dividends the coming year on stock
except second preferred and common,
on which returns will be suspended
until the surplus IS increased.
No adverse effects have been felt
from the European war. at least none
are in evidence thus far. Cash, re-
ceivables and good in Europe belong
ing TO the company amount to 5000
7O999. On this subject the report
says:
in last years statement the goods
on hand in Europe appeared under IN
ventories' but in this statement we
have consolidated all our European
assets into one item so that our
stockholders might see at a glance
the total amount that could in any
way be affected by war The audit
company reduced our European as
sets sI2O.639.99 by setting up their
usual reserves but made no attempt
TO estimate the possible losses arts
ing from the war for the reason that
our fiscal year in Europe ends Novem-
Der 80.
Up TO date there are no known /
losses and inasmuch as all our stocks 4
and more than SO per cent of our for !
eign trade are outside the immediate I
field OF war operations il seems fair .
to assume that the profits on goods
sold (Which last year amounted to $751;
OOO) ought to Offset possible losses
However II every dollar of cash, &C
counts and finished goods shown as
being in Europe are eliminated from
consideration the company still has
So OF quick assets for every 81 IN
debtedness."
Will Be Conservative.
Taking its affairs all the way
through the company Is in exception
ally good condition, but its policy will
be TO sit tight and make no unneces-
sary expenditures till there is a dis
tinct picking up in business. There
will be no new construction during ,
the present year. The summary %
the years operations IS given in fix
ures as follows:
JTOSS SAFES 70 = . oA-e--
Operating expenses. in :.
Guiding s136.6ss16 ex-
pended for mainten-
ance. reports and re-
newals and s113.O95.57 /.
charged off for depre-
citation ---.-.-.-.- II, i 1919
Net income from opera
ton ................. 771,s9S.57
met .-...-...,-..... 1821ss.5s
NG plu pF0n' ea'i'eu to sur sas.sas ss
Balance in surplus ac- ,
count July 81. 1913---. 1,799.O42-O7 :
Less dividends paid first
DreferredD ..... 525. 5000
second preferred ....... 100000
Common stock (cash) 90 54O.291-OO -,
Common stock (stock).. 5OO.0OO.OO
Total ................s 1866. 291.OO
Surplus remaining IS 762,591-O5
During the year holders of common
.tcck subscribed for 100000 addi-
ionaI common at par. the money thus 6
obtained being used in erecting and
.quipping 4 strictly up-tO-date chilled I
low plant alongside the binder plant {
n Poughkeepsie. and a warehouse in +
his city During the same period [
common stock dividend Of 100000
vas declared. thus increasing the Fl