The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1916-11-17
owens COMPANY
cuts JUICY MELON.
.'FORSTOCKHOLDERS.
Twenty Per Cent Dividend
Declared at Directors
Meeting in Toledo
SALES RECORD BROKEN
S. S. Cochrane is Given New
ly Created Position of
Factories Manager.
SALES RECORD BROKEN

More than half million dollars will
be distributed January /, among the
1900 stockholders of the Owens Bot
tie Machine company. The dividend
rate on Owens Bottle Machine common
sock was increased to 20 per cent.
Tuesday. at meeting of the board of
directors preceding the annual stock
holders meeting In Toledo.
The former dividend rate was IL per
cent. annually. Dividends are payable
20 stockholders Of record December %.
The ~ per cent. quarterly preferred
dividend was continued. Books will
not be closed after the paying Of these
dividends, but holders must have their
stock recorded 20 days before payment
Of q dividend.
A new sales record was established
during the 40 days prior to November
10, said President h. D. Libby, in his
report to the stockholders. Contracts
for 715,211,296 bottles were closed for
delivery during the current fiscal year
which began September 30. This is an
increase of l01, 251 600 aver the proceed
ing year.
year is estimated at 1901 500 bot
tiles; an increase of 80 per cent over
fShc actual production during the 1915
u Juuction Of 32,21O.696 bottles Is
Flown. OF this, $4,000, 900 bottles have
been contracted for with other compa-
MES. The stockholders meeting was
the largest attended Of any ever held
by the company.
President Libbey. in, his report. said
the company's earnings would permit
the paying of a larger cash dividend,
but that the directors preferred to ad-
here to their conservative polio IS. in
building large surplus for future con
tingencies. The preferred dividends
Of the company total 1927. O04.50, the
regular stock dividends $271,500, and
the extra payment on the common,
$4,000, bringing the total to $780,
504.50.
The board Of directors was increased
from to Ia, They are; President Z.
ID. Libbey. Nj. j. Owens. Clarence
Brown, William S. Walbridgc f. l..
Gededs. William II. Bosllart. j. d. Big.
gers. Elisha Walker, $. S. Cochrane,
James Morrison r. II. Miller, Il. II.
Everett. NJ. w. Jack. Joseph B..
Graham and Samuel A. Whitney.
s. S. Cochrane, with headquarters in
Falrmont, was made factories manager
OF the Owens Bottle Machine company,
James Morrison, from Newark. ic made
assistant sales manager. The posi-
ton of factories manager is newly
created. Mr.. Cochrane. while located
III Fairmont. will have active control
over all the factories Of the Owens
company. Cochrane and Morrison,
I with the other new directors. were
connected with plants bought in by
the Owens company.
Elisha Walker, Of New York; T. r.
Everett. OF Newark; c. W. Jack, Of
Streator. ILL.,; Joseph b. Graham. of
4 Evansville, H., and Mr.. Whitney, OF
Glassboro. n. j., are the new direc.
tors.
A directors meeting was held after
sthe stockholders meeting and officers
injected. They are: President, e. D
Stbbey; vice president and genera.
counsel, Clarence Brown; vice pres:
dent and general manager. M. J..
Owens; vice president and sales mana.
ger, William r. Boshart; secretary.
F. l.. Gcdeds; treasurer, j. D. Egrers