Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1918-06-29


~ t~n1ness b shown In the
NJ Iettor Of January IL. 1917,
~ Eastern Leather Company, an
u1<selling subsidiary. to F. w.
- Y Armour q Co.:
*tXko are inclosing our check on the
1oQal City Bank. New York city,
111o to J. Ogden Armour, for
IIgyu7, same being dividend of So
~ cent on the 1929 shares of COM
1tn stock standing in his name. In
}6G1tion to this, and in accordance
Nth our conversation when in CHI
E1AGo, we have set aside as a surplus
~ 900. which represents 10 per cent
- ne common stock. We are also
1uaIoo1ng q check on the National City
HnAk for S202, ,145.62, payable to Mr..
Armour, this being the balance duo on
IN shares of common stock held for
slnpioyes."
rieaeed with Business showing
II And er letter to H w. Boyd. presi-
sH&nf the Armour Leather Company,
that earnings for thre months
Auytl as. 1917, were s1,9e4,945.
& 20 anne man writes to Mr.. Armour.
1t11ing him that while the Central
LSafAsr Company does four times rs
nneh Business a. the Armour company
49, rpade only 81 800 .00O, and after de-
nrSeone bonds and dividends had only
- 80 left to apply to their surplus.
ne writer added, II think, considering
thelr lumber business which is WONDER
ff1f--the manager of the PennsyNanla
Iuu1ber Company told me that tnes
r,aver expected to realize the prohts they
were making on hemlock LUMBER anu
that they were doing an enormous pus'
ness-Athat our statement Is 9 great zeal
better than theirs
Huge Profit on Flour
" The report on flour milling shows tnai
IN the face of the food administration ;
ruling of a twenty y-five-cents-per-o -oarrel
maximum, the average Nroft per oarrei
- Hour to the milling industry to March,
.1e1s. was about forty-five cents. or three
tames the normal profit per barrel Inc
return on investment was ABOUT 20 10
80 per cent. The commission says that'
while the profit received by jobbers was
excrbitant in the first part OF lsl',
ths food administration has succeeded
IN keeping II within twice the norman
rate over earlier years
The commissions survey OF the petro-
lsum industry states that no price for
TIA public has been fixed by the Gov
rnmerit. The profits have Increased
fvpna the pre-war average of Is per cent
- figures ranging rs high as lsZ per
spat The reports says that rumors were
unFsulated that the supply OF sasohhe
- endangered In order to keep mp
- retail price and to insure heavy
uroGts. The report states further that
enormous profits are now made IN 1uel
OIL with the advantage to the renner
that the product NETS no popular cnal-
lenge. In 1917 more than so per cent
Of the estimated production Of ptroleum
ar petroleum products enjoyed a profit
of more than 90 per cent on investment.
Same story In Coal and steel
The average margin for coal in
twenty-three bituminous coal fields in
PENNSYLVANIA was twenty cents per ton In
1915. compared to ninety cents In 1917.
The highest margin for any of the COM
panies was S1.S5; 1t was fory-one cents
n 1916 The commission reports that ns-
ufes for April, covering more than H.
zoo. 600 tons from West Virginia, Penn
srSfvnnia. Ohio, Indiana, Illinois and
Isatucky show an actual profit OF nifty
feur cents rs against pre-war margin
= ten to fifteen cents. The average
price per ton Of anthracite in January
and March, in 1918. was S4.26. IL was
S1.Se per ton in 1914.
The commission reports with reference
- the steel business, that the opera
a3en sf the cost-plus . margin OF proht
svsGsn has enriched the stronger mills
- prsats that are without precedent.
I - uuited States Steel Corporation
t36Ss profit Increases from b.2 per cent
~ .ao1k 70 2l.9 per cent in 1917, rep
= I>ented by 347s,204,343 before war
~ ytes were deducted the reduction OF
s &xes left the net income Of s244,73s,-
~, Of which one-tenth was applicable
~ interest on bonds and the rest for
avidends and surplus.
VI Large earnings were made in the
bpper Industry. the report shows, profits
1917 ranging from to 101 per cent
r Investments. The average profit was
&4.4 per cent and the average profit
t)lnes pre-wsr times has about doubled.
Records Of the commissions ngures
xinc show no unusual profits In the
fndustry, the New Jersey Zinc Com
4sny. because of a natural monopoly OF
2the ore, showing 1917 profits Of 56 per
4 saSrk. Reports on the nickel industry
show that the International Nickel Com
s3any Is the dominating factor. In
p1S17 the company's prohts were ABOUT
30 par cent
The margin for canned salmon per
AaeA has mounted from twenty-eight
oonts to ffty-four cents per case. The
avsrage return per case in 1917 was
eo.1s and the average investment IN
f11l7 was $4.32.
The commission states that the worst
I uIender in the canned milk supply has
Len the Helvetia Company, which vol
unfairly acknowledged in letter that
n was forced to maintain an Increased
rrice to protect its business The Borden
cenAensed Milk Company Is named with
sshsf Arms ss party to strong COM
h1nataen in keeping up high milk prices.
Borden made IS per cent on cost. and
the Helvetia made 20 per cent profit on
cost.
e The report on lumber declared there
9wns comparatively no prohteering on
tho lumber projects Of the southern pine
PRODUCERS, despite the fact they have
flnlIlions Of feet in contracts for wooden
tohips.
~ wAny NM nurY M n NnI n