The Hawaiian gazette., 1915-03-26
AMERICAN REFINERY
EARNINGS LARGE
Common Stock Paid Dividends
Nearly SIX and Half Per Cent

NEW YORK, March il. The report
Of the American Sugar Refining Com.
pnny for the year ended December 81,
.lai7, forms an interesting comparison
With the report Of the previous year.
The report for the year Of 1913 showed
the company with considerable deficit
owing 10 the decline In the sugar profits
OF over $1,000, 900, while the report for
the wear Just passed shows that the
sugar preflta are more than doubled,
while total net pro6ts have increased
appro1imately $2,00O,000, as compared
With loss Of over S3,000,o0O in 1913.
Earned Six Mnfons
z sugar profits for 1914 were $2,791, :
$50. as compared with $1,0l5,653 in
ig13 with interest and dividends yield
ING a., 561 $50, against t3, 109, 1876.
FotaI net profits for the year were
40. i39, 800, against "a, 1S4, 9Sy the pre-
vious year. After allowing z per cent
on the S45, 100000 preferred stock and
ieductinR $17,215 profits from opera
si6n of former years and $59,212 profit
and loss adjustment, including earn
ines. the balance, $2,912, 6oS, Is equal to
al per cent ON the $45, 100000 common
ytock before any deduction for depre.
citation or reserves and including 97S6,
$50 net profit realized from the sale Of
investments. This compares with 1.SS
per cent earned on the common stock
he year previous.
PROFIT and Loss Seventeen Million
Total deductions including diyi-
lends, amounted 70 $S,045,l99, leaving
I deficit for the year Of 81 ,e05,s09, as
red with one Of $4,099,475 the
year before. The company also had q
credit item Of $709, no. The profit
and loss surplus on December 81, 1914,
& given as $l7, 030,794, as compared
with 1929, 425 on December 81, 1913.
Secretary Joseph E. Freeman in his
export to the shareholders makes the
following statement:
Pension Fund
Last years report showed that 100
employees had been retired and placed
on the pension roll. Additions TO this
list have been made and there are now
t52 employees who are receiving an an
nual pension from the company. The
sum Of 100000 has been set aside as
pension fund and additional sums
win be appropriated as required. In
addition, employees temporarily incapa.
Stated through sickness or injury are
aided by the company. Approximately
AS2, 900 was expended last year for this
purpose and for pensions.
These payments are an addition to
any sums the company has been re-
quired to pay under the various Work.
mems Compensation Laws in the diff.
Iferent states where the company does
business. s,tt,
| The Louisiana Law suit X
lin the suit brought BY the State Of
| Louisiana against your company, "a
cancel its right to do business within
the borders of that state, the district
court for the parish Of Orleans rem
flered a decision, in which the, conten
tions Of your company were sustained
pnd the srit-was dismissed. An appeal
has been taken4b the state to It's
highest court and will shortly BE-
lArgued. h ~ X I r,
In the matter Of the damage suit,
brought in the same state by various
planters, the cases have not progressed
beyond the state Of preliminary plead
ings, but the United States distric.
court has sustained important excep
lions. filed by your eompany's counsel
To- the form Of the plaintiff a state
ynents. The suits sfe still In progress
and your law department retains the
Ieonhdence heretofore expressed in the
favorable outcome " the suits. Z.
II 1. VI . =. \ Y - - Is Z