Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-09-06
CHEMICAL COMPANY
ISSUES ANNUAL REPORT
oPernns Conditions Increasinrly Dif-
hc"it owing to "ar-LarEe Ia
crease In business Nsted.

The annual report OF the directors
OF the VirEinia-Carolina Chemical
company. which was made public yes
terday afternoon. shows that operating
eonoitions during the past year have
oeen increasingly difficult, owing to
the war, which applies to all branches
OF the company's business. The imam
cial statement. recently issued, showed
that last year was the best In the his
tory OF tho company in net earnings.
with very much the largest increase
in business.
The report follows:
The percentage Oh pronts to the
amount OF business done is unusually
small. being only SIS per cent, or
moro than l per cent below tho year
1916. The total turnover for 1917 was
sS3.774.5S0. as compared with $67,sss..
444 in the previous year. an increase Of
more than 315.75o,0oo. However, prob
| ably half OF this increase is due to
higher prices necessitated by higher
cost. In the year 1912 the total value
of business done by the company was
S5o.94s.7S3, 30 that from 1912 to 1917
business increased $52,S25.797, or more
than 81 per cent.
Fertilizer consumption materially
increased over the previous year. Par
ticularly was this true in most Of the
cotton and tobacco-growing sections.
The short crop of cotton grown last
year in the Atlantic States Is largely
attributed to the limited consumption
of fertilizers. and the farmers. realiz-
! ing the mistake they made the pre-
vious year, fertilized very much more
| literally, with indications now pointing
to a satisfactory crop in an OF the
| territory in which there has been a
! liberal application of fertilizers This
also applies to the tobacco territory.
| Indications now point to a large con-
| sumption of fertilizers next year, not
! only in the tobacco and cotton sections
but also in the grain growing Bections
Each Of tho principal subsidiary
i companies have shown improvement
over the previous year. The South.
ern Cotton Oil Company, the largest
OF the subsidiaries. had a very salts
| factory year, and enters tho new year
With desirable inventory. The
Charleston Is. C.) Mining and Manu-.
featuring Company. which controls the
phosphate rock mines Of the company
shows marked Improvement over las,
year, not only In making slightly bet.
| ter earnings. but in the reduction o.
operating cost. The Sulphur Mining
and Railroad Company has It's pyrite:
mines now in operation. and the out
come from It's properties is expected
TO he an improvement over the severa
| previous years.
Efficiency with which the companyf
| properties are kept up is evidenced
by the large amount spent for repairs
and maintenance and charged OF, a,
| shown In the financial statement--viz.
| S2.l45,S30.91. Under the terms of theil
respective indentures, there has beer
bought and cancelled In the year $780,.
900 Of per cent bonds and $125, 00t
OF per cent debentures. a total o.
$4,000. OF course. under present con
ditions. 1t is impossible for us e
make any statement concerning tn,
potash mines and chemical property IL
Germany in which the company is In
| terested. During the calendar yea
1916 reports showed that the companies
were operating In fairly satisfactor,
way"