Evening journal., 1918-03-04
ATLAS P v Err Co.
Shows 1917 Grow II.
Commune From Ms Page.l

ldpon company. McnarQs ana COM /
pany Incorporated are manufacturers
Of the highest grade Of leother cloth, /
lacquer enamels. varnishes. bronze |
liquids, amyl acetate and nitro cellu- /
lose, wiki a new and completely I
equ pped plant at Stamford Conn. All .
products a.e sold under the trade name /
"Lapon,' leather cloth being sold 4
through the Zapon Leather Clo.h Com /
pany and other commodities th ough /
the Cellulod ZapOn Company, with /
offices at No go F fth avenue New |
York city While these prope ties earn /
very subs antial profit from their /
own operations and a good return to
the ATLAS PowAer Company on the in
yestment, they have been acquitted /
under the general plan Of permanently
utilizing excess capacity Of suphu. ic
and nitric ac d plants that have been
especially constructed for war busi-
ness Nitro celluose is an important
ing ed.ent Of D Oh explosives. These
companies were pioneers i'm the IT,
dc al leather business and Zapon'
leather cloth is one OF the leading
brands on the market today.
"The increase in gross business for
the year 1917 oyer preceding years ap-
plies to all anches Of explosive and
chemical operations Your commercial
business in gh explosives, blast ng
powder and blasting supplies has eX-
ceeled that of any year since the COM
pany was organized.
while it has ueen necessary to do
a large amount of cOnst uction work
during the years 1918 and 1916 to p. o.
vide for eXtrao dina y business in
chemical products, an eXpend lures of
this nature have been amortized amid
we do not contemplate any further eX-
/ tensions Of that character during the
/ present abnormal period, except that
/ the entire financing of same be for
the account and isk Of customer
I'VE have adhered to our usual Gus
tom Of setting as de from earnings
sufficient reserves to provide against
loss I. ON bad BITS, accidents al plants,
depreciation Of plant values etc
In 1917 all plant properties have
been appraised and book value ad
jusicd to these appraisals through the
d reserve account established on our
books by regular charges to earnings.
II is very crafty ng 10 report that q
substantial and sufficient amount re-
mains in depreciation Of plant reserve
after making this adjustment.
During the iive-year period ending
December 81, 1911 your company has
had the use OF certain facil ties Of E.
T. dupont dc Nemours and Company,
as directed by the Federal Court and
during this period your company has
created an organization whereby these
services have been dispensed with
Recognizing 10 as our duty TO render
every poss bile aid 10 the Cove nment i'm
The raising Of funds TO successfully
carry on the war. this company sub
scribcd to a substantial amount of each
Liberty Loan In add tiOn. the COM
pany offered the bonds of each Liberty
/ Loan, TO its employees for subscription
on a monthly payment plan, and a
large amount Of bonds were thus sub
ser bed
Your company has now in hard
/ extensive contracts ON The United
States Government These undertakings
together with the manufactude and sale
OF commercial explosives and chemical
products, will employ your orgoniza-
tion and facilities to their maximum
capacity.
"The authorized capital stock Of the
company remains al s20O00000. con-
sistinV Of Si0O0OO0O par value per
cent cumulative preferred stock and
si00W000 par value common stock
There is row outstanding S9;00O00O par
value per cent cumulative preferred
stock and 5000 400 par value common
stock One M llion eight hundred ami
two thousand dollars par value prefe~-
red stock was issued as part payment
for properties acquired during the year.
no other stock was issued. The in
crease i'm LIQUID assets is due TO higher
cost of essential materials and suppl es
j and to an increased volume of bus g.
ness This Increase in working capital
has been provided for from earnings
and temporary loans. ID is not antici-
pated that there will be any Offering Of
securities of the Atlas Powder Com
pany In the near future.
"Dvidends ON the per cent COM
mulatiye preferred stock have been paid
regularly. Dividends ON the common
stock have been paid as follows 1913,
~ per cent 1914. 6 per cent 1918,
iik per cent; 1916, % per cent; 1911,
26 per cent ,includng'Red Cross, 1 per
cent.
I'm June. 1917, a special Red Cross
dividend of 4 per cent on The common
stock was declared with the suggos-
ton that stocl holders receiving such
dividends would donate same to The
needs of the Red Cross at that time
"Wi'h view Of encouraging as many
employees as pOss BILE TO become stock
holders i'm the company the stock sub
scripton plan for employees has been
continued and the record of total NUM-
bs~ of stockholders and the number
who are employees of the company is
as follows: 1913, 755 stockholders, Of
whom 81 were employees; 1914 Sj
stockholders. Of whom i73 were en-
ployes: 1913, 1884 stockholders. Of
whom 3i6 were employees; 1916, 22i3
stool holders. of whom iS9 were em-
ployes: 1911, 2522 stockholders, of
whom 100 were employees.
Under the unusual cord tions thoi
have continued through the year 1917
as during the years 1915 and 1916, your
employees have been called upon % put
forth maximum Efforts TO successfully
mlan the demands made upon them
The response to Oh s d'ma"d ard the
spirit OF loyalty as shown by an en-
pioyees has been most gratifying We
feel that this in a large measure Is
due to the fact that so many Of your
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