New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-29
Contracts for
Munitions Yield
Large Profits
American Car and Foundry
Earns $27.37 a Share
on Common Stock

The American Car and Foundry Com
paay closed on April 80 last the most
prosperous twelve months in It's his
tory, the annual report issued yester-
day disclosing a balance availabls for
dividends on the common stock of So
210,S72, equal TO s27.37 share, COM
pared with $3.50 earned the previous
year. After paying out sl,950,000 in
common stock dividends, compared
with 100000 last year, the company
added S2,250,O00 to the reserve for divi-
dends on the common, which, with the
balance carried over from the preced-
ing year, now totals S2,400,000. This
is equivalent to per cent share.
Total profits of the company from all
sources, before deducting repairs and
renewals, aggregated ST ,522,9Os, COM
pared with S4,595,359 in the previous
twelve months. Net earnings after
charges for repairs, rentals and the
cost of special equipment for the pro-
duction of munitions totalled s10,31o,-
81. against s2,s16,O1s last year. After
all charges, including special reserves,
the company had q surplus of sl,0lO,-
S7l, compared with sll6,0lS in 1916.
Reserve for Future Dividends
". H. Woodin, president, in his re-
marks to the stockholders, called at
tention to the fact that the company
has added S2,500,000 TO the reserve for
general overhauling, improvements and
maintenance. The company has also
appropriated 100000 to a special re-
serve for improving the working con-
ditions of the employees. This fund
will enable the company to provide
still further for the health and com
fort for its workmen TO an extent be-
yond the limits set by statute.
Mr.. Woodin said:
"From the viewpoint both OF opera
tions and results, the year has been
a satisfactory one. The performance
Of the company in the production OF
munitions has been gratifying not only
as to quality, but also with respect to
volume and speed of production, and
has not been excelled by any other
company in the United States. The
representatives of the governments Tor
which the company has been producing
munitions have been unstinted in their
expressions of approval OF its organiza-
tion and methods. The experience &C
auircd in this branch Of industry Will,
without doubt. prove of great value
10 our government, enabling the com
pany quickly and economically to meet
what promises TO be very large de-
mand for such SUPPLIES.
Fair Orders for Cars
"a fair share of the years earnings
resulted from the conduct of the COM
pany's ordinary business in the manu-
facture and sale of cars and miscel-
laneous supplies. Material costs have
been high. and are likely to continue
so. This, together with the increased
cost of operating, coupled with an IN
ability TO obtain a corresponding aug
mentation of revenue, makes 1t grow
ingly diffclt for the railroads TO hnance
the purchase of new equipment IN
sufficient to meet the normal
traffic requirements of the country.
The need Of means Of transportation,
both for domestic and for foreign use,
is so great. however. that it is rea-
sonable TO expect that, with the advent
of more propitious conditions, the com
pany's facilities for this line of pro-
duction will continue in fair demand
At the close of the year the company,
Mr.. Woodin said, had on its books for
construction a greater number Of cars
than at the beginning