The sun., 1918-07-24
HIDE AND LEATHER
EARNINGS INCREASE
American Company's $3,0O7,-
S82 for Year Jump of $780,
900 Over 1917.
TO PAY TWO DIVIDENDS
Central Leather's Earnings
for Six Months Decrease
to S6,292,524.

American Hide and Leather Com
June 30, 1918. totalled ss.oo7.sse, an in
crease Of more than $500. 900 over those
for the previous year, according to the
annual report made public yesterday.
The quarterly report. too, which was also
announced, showed an increase over the
same period OF the previous year OF more
than half a million dollars. It Ia inter-
,,ting TO note in comparison with the
report OF the American Hide and Leather
Company for the quarter Just ended that
ns Increase in net earnings was about
100 per cent, while the report OF the
Central Leather Company for the same
reriod shows decrease of approx
mately so per cent
Hide and Leather during the three
months covered by this report earned
,ss5.9l3 net, as against s42s,257 in the
same period last year; while Central
Leather earned for the second quarter OF
1918 but s3,672,921. as against $6.179.41O
during corresponding period in 1917.
Some reason for the falling off in Cen
trail Leathers earnings Is shown, how
ever In the statement that the shrlnkage
|. occasionei by marking of Of a sub
stantial allowance for excess profits
taxes, which action was not taken when
the quarterly report was made public In
July, 1917.
IN the twelve months Just ended
American Hide and Leather earned
sis0i per share. as compared with
1855 per share which was earned dur
ing the previous year. The net earn
ings were s3.oo7.ss2. as against S2,441,-
oil IN 1917 The surplus for the year
covered by the report was s2,346.3s2, as
compared with S1.77s.511 in 1917 and
Ns42992 in 1916. During the quarter
ended June 80 the company recorded a
surplus OF ssso,5Ss. as compared with
'!s',ss2 in 1917 and s343.sSs in 1916.
The regular dividend of Az per cent.
was declared upon the preferred stock
OF American Hide and Leather, and in
addition an extra dividend Of 2 per
cent, payable In Liberty bonds, was also
declared. The dividends are payable on
October TO stock OF record August 81.
Total earnings of the Central Leather
Company for the six months ended June
80, ms compiled from the quarterly
statements. were se.292524. This COM
pared with $l4,042,245 for the same
period In 1917 and sS,5e2.s32 in 1916.
The balance recorded at the end of the
Fix months period was S4.O50,s72 in
1918 and sl1.774.531 the previous year.
Common dividends paid by Central
Leather during the six months Just
ended totalled $9s2.522. as against ST.
's6,54o during the same period last
year, and the surplus transferable at
the end of that period In 1918 was ST.
iob,s43. as compared with $7,9O3,423 in
1911, The balance before dividends In
1918 was equivalent to 1928 a share on
the S3s,70l .031 Of common stock, while
that OF the previous year was equal to
1910 per share
The earnings OF the company for the
quarter ended June 80 Of this year were
uC2.92l. a considerable decline from
those for the same period of last year,
which aggregated s6,17e.4lO. The sur
plus after charges, Federal taxes and
preferred dividends of sl.539.74s was
equal 10 1897 a share on the s39,7ol.Osl
common stock. against a surplus OF s..
H073. or 1891 per share, In the same
quarter last year. The common divi-
tsnds paid during the second quarter Of
this year were s+9s.2sl. as against ST.
Hp279 In the same period last year, pre-
fsrred dividends and bonds interest re-
naming unchanged. The surplus for the
quarter Just ended was $l.043.4SS, while
nat for the second three months period
Il 1917 was $2.647,794.