Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1916-02-01
DEERE AND CO.HAS
PROSPEROUSYEAR
Moline Concern Succeeds in Increas.
ing Profits During 1915 as COM
pared With Previous Period
GAIN Is MADE IN SPITE OF WAR
Another Feature OF Report Is Improve
ment Shown in Percentage of As.
sets to Liabilities.

setS 10 LllDliitlcS.
In spite of the war, which has adj
versely affected sales of farm imple-
nents, Deere & Co., of Moline during
1915 succeeded in increasing profits as
compared with the previous year, ac-
cording 20 the annual statement of the
big implement concern, just made pub
lie.
Profit for the year was $3,24S,02357.
On Oct. 81, 1915, when the fiscal year
covered by the report came to close,
the company's surplus was $5,964
037.02. Another striking feature of the
report is the improvement shown in
the percentage of quick assets to total
| liabilities. In 1914 the quick assets
surpassed the total liabilities by 2S3
per cent; now the percentage in favor
of the quick assets is SCI per cent
! During the year the company sold to
the French government, commissary
and hospital equipment, consisting of
ambulances, wagons, carts, etc, to the
value of 1929 900.
This equipment" the report states,
referring to the sales in France, was
built during the quiet period of fac
| tory operations and was of material
benefit, both to the company and its
employees"
| Figures for Fiscal Year.
/ Tn y
ended Oct. 81, 1915. is as follows:
Total earnings of all COM
panies, after deducting
all expenses of opera
ton and distribution, in
Guiding those for repairs
and maintenance, for de-
probation Of property
and equipment, for pen
sions, accident compen-
sation, etc, and after
making provision for in
terest on the indebted
ness of all subsidiary
companies, and for re-
serves for cash dis
counts, uncollectible
notes and accounts and
for other purposes, and
after providing the spe-
cial reserves hereinafter
referred to $1,000, 957. %
Deduct:
Administrative and gen
eral expenses ......... 34O,133S2
Interest charges fnetl on
serial notes, debentures,
etc Observation-Disclosures. 21o,407 95
Depletion Of timber lands
and m i cellaneo Gus
charges ........... 1O6,391SS
Total to deduct ......,.S 56,933.65
Net income for the year. 3,24S,023. 81
Surplus at beginning of
year ................. 1884 ,O0S4E
Total Observation-Disclosures ,61 :, 032 0:
Preferred dividends paid. 81, SAT $685. l
Surplus, Oct 81, 1915 49,. 1864 ,037 OF
Sales Below Previous Year.
; The report shows that in spite OF in
creased profits, made possible through
economies in factories and brancf
: houses, total sales for 1915 were 121!
per cent below those of the previous
; year, and that on an average the fac.
tories operated at about sixty per CEN
capacity.
Hope of normal conditions during
l the coming year is held out in a gen
eral statement made by William But
= terWorth, president of the concern
with the approval of the board of di
rectors. The statement follows:
THE financial condition of the farm
ers of the United States has consider
ably improved during the last year
owing to the abundant crops and higl
| prices. The farmers are buying very
conservatively, however, as far as i'm
plements are concerned, and their feel
ing in this regard is reflected by thu
r implement dealers.
Stocks of goods all oser the coun
try are at a rather low point Thi.
should bring about a more normal bus
mess during the coming year, provid
: ing crop conditions are favorable, ant
should result in fairly steady factor,
s operations. The company will con
0 tinue, as during the last year, to oper
: ate on conservative basis, both in tn,
t factories and the branch houses"
:: Employees Own Preferred Stock.
y An interesting statement in regart
e to employees and others who hold pre-
ferred stock is made in the statement
O which says:
Il THE policy of selling preferred
K stock to employees on favorable term
= has been continued during the las
n year. Up to Oct. 81, 1915, the prefer
red stock paid for by employees and is
a sued to them under the plan in fore
o amounted to $253,400"
S Further it says:
e NO additional preferred stock wa
IT issued during the year The total nun
= Of preferred stockholders at the clos
OF the year was 3,842, as compare
a with 1893 at the close of the previou
l. year. 1t is interesting to note that G
l. this total number of stockholders, / AS
y are women. The total number of for
II eign stockholders Including those i