New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-11
OF THE
AMERICAN LOCO.
co. QUINTUPLED
Vivid Example of the Ell
feet of MunitiOn Orders
on Industry.

Realizing the benefits from the exc
/ cution of a great part of it's war con-
| tracts as well as feeling the improve
ment in its normal business, the Amer
lean Locomotive Company, as shown
by its report for the year ended June
/ 80, established a new high record in
point of earning power. No specific
mention is made of the amount Of
munition orders taken but in a general
way. S. L. SHOEMAKER, chairman Of
the board, said:
"The net profits for the year Of
s10,769,428 exceeded by s4,411,221, or
60 per cent, the profits of the best pre-
vious year of the company, which was
in 19O6-'O7, when S6,35S,206 was
! earned. This good showing was due
to the execution of the company's mu-
milton orders"
According to a further statement by
Mr.. SHOEMAKER practically all the
munition orders on hand at the begin
ming of the last fiscal year have been
completed and shipped. The unified
orders on the books of the company on
June 80, last, together with orders
taken since, amount to SAL ,642,9O5. I'm
filled locomotive orders were $3.50
$50, as compared with $5,S3S,235 on
June 80, 1915.
Gross business of the American Lo-
conceive Company last year exceeded
that of the previous year by $5O,OlZ'-
71s, the total being s59,3l6,O16. In
this comparison, however, it is recalled
that the 1915 fiscal year was the worst
ever experienced by the company, divi-
dends on the preferred stock having
been paid out of undivided surplus.
The following table shows in detail
the income account for the last fiscal
year with changes from the preceding
year:
Gro., e.nins,...... ,sssis.oIs'3 ssOoia.7iSOS
Manufacturing. main
teuauce and admins
tratiye expenses and
depreciation. includ-
Ing cost OF equip
ton ton order, '........ 4s2a5ss2.4o $3.50 ss227
Totals .............SlIO 1891 s2.2i3.O35.sI
Interest. etc. on bonds
OF constituent compA-
MES, coupon notes, - - -. ..-. = d.
etc. ......t..s.s.s.s 'oVi'V''''% fo'"''-'
Prof, ..............sIO7ss4 zs.ss sl22sl .4Os. OF
Dividends on preferred
stock al per cent. l|o0OVo"
Surplus ............ ,sOIs.I2S.5s sl226l. 400. o.
I ssd bc Il. ''o 3OOOOOOOO aOOOOOOOc
Net credit 70 profit
and loss .......-.. >o,VlSf<osoS ,S<ol' 4V5'V&
Decrease.
The above surplus before preserve
for additions and betterments" was
equal to 36.07 per cent on the S25,000,-
900 common stock outstanding. In the
operating expense account S1,761 ,6S2
was deducted for depreciation. The
report said there was also charged
against the profits for the year the
entire cost of all new equipment pur-
chased for use on munition work. In
"NN'N'Nh q SuIlSAeHI amount was set
aside TO provide for the cost of even
tually restoring two plants now making
munitions to the best condition for
locomotive work when it is resumed.
The condition of the company on
June 80 last as disclosed by the bal
ance sheet, showed net working CAPT.
tai of s2l,4S2,07s, which, the report
said, sis ample for the needs of the
company to carry on its regular loco
motive business" Cash assets at the
end Of the fiscal year amounted TO
sl0,35l ,070. To offset liability Of
Sl1,0ls,725 for advances on uncom-
pleted contracts there was sl1,769,37
accounts collectible" Concerning the
financial condition of the company
Chairman Schoonmaker said it was
better than at any time in its history.
He added
ION July 1, 1916. there was paid
Sl,3S6,000 of gold notes of series ~"
maturing on that date, leaving bal
ance OF all outstanding gold notes Of
$l,336,O0O maturing July 1, 1917. This
shows a reduction of Ss,734,O00 since
1912, when the notes and loans payable
were $40, loo, 000."