The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-03-17
American International Cor
poration Announces Do
nestle Expansion Plans.
SURPLUS IS S5,748,410
Annual Report Makes Strong
Financial Statement of
Years Progress.

not be strapped. like so many Of the
the war emergency. Instead the prln-
cipies Of ship design and construction
devised at the plant for war purposes
have been pronounced applicable to the
demands OF peace time commerce. and
the big yards will continue to turn out
fabricated steel vessels which win carry
the American flag to all parts of the
world in the after the war race for
world commerce.
Announcement TO this effect Is con-
tanned In the corporations annual report,
reviewing the Hog Island and other
activities of the corporation in the last
year. It carries also the definite state
ment that the corporation, although
formed primarily for the extension and
development Of foreign trade. will assoc
eiate itself hereafter more extensively
with domestic interests in order to enable
the corporation to- develop international
Investment and trade forcefully. This
policy has been decided as a result of
three years experience. the report says,
and has been concurred In by Charles A
stone, president: Frank A. Vanderlip.
chairman Of the board of directors, and
the other members OF the board.
An Unprecedented Performance.
or the situation and accomplishments
at Hog Island the corporations report
says:
the most important enterprise carried
ON by your corporation during the year
was the construction of ships for the
government by the American Interna-
tlonal Shipbuilding Corporation at Hog
Island. The successful completion of
this PLAINTIFF largest in the worid-in
q phenomenally short space of time, I'M
der weather and labor conditions hereto
fore unknown. is an accomplishment of
which the stockholders, directors and Of
neers OF the American International Cor
poreion and the organizations and in
divfduals associated with them may well
be proud.
I'm common with all other industries
operating under war conditions, Hog ISL
and suffered, Immediately after the sign
Ing OF the armistice. from difficulty In
Obtaining labor. and production was con-
siderably reduced. At present conditions
are much improved and the desired rate
or production Is now being approached.
Fabrication of ships a Success.
Soohtity pTVuuCIiOn OF fabricated
shfps has been proved practical The
principles of design and construction
adopted during the war as the only way
In which vessels could be built in the
wholesale quantities demanded are appli-
cable In times OF peace and will be OF
rreat Importance IN reducing the cost of
construction Of vessels In America. The
ships built at Hog Island have received
the highest rating both from Lloyds and
the American Bureau OF Shipping.
BY early March seven ships had been
put In service. The Quistconck, sailing
from New Orleans. has passed Gibraltar
On route for Genoa with a miscellaneous
cargo Of cotton. tobacco and metals the
Saccarappa has arrived at Rio de ia
metro. Brazil, with coal the Sacandaga
10 carrying general merchandise to the
west coast of South America; the Sac
City has reached Montevideo Uruguay,
with coal; while the Saguache with like
cargo passed through the Panama Canal
pound for Chile. The Prusa and the
sspinero have sailed from Philadelphia
with food for Europe"
Building I'D American Marine,
Reviewing the other activities of the
corporation. particularly in relation to
Its expanding interest in domestic un-
dertakings. the report says:
I'VE still hold an interest In the In
ternationai Mercantile Marine COMPANY.
the United Fruit Company. the United
states Industrial Alcohol Company and
the Unite Estates Rubber Company, and
these securities have shown a satisfac-
tory return during the year.
THE New York Shipbuildlng Corpora-
ton has been called upon to play an i'm
portant part IN the governmental ship
building programme In the construction
OF naval and merchant craft The yard
now contains twenty-eight ways and is
one OF the largest and most complete
rlants In the world. Improved accom-
modations for workmen have been pro-
vfded by the construction OF a model |
workmens community known as York
Ship VILLAGE.
'The Pacific Mail Steamship COMPANY
operated a number OF requisitioned ves-
sells for account of the United States |
Government in addition to those of its |
own fleet
''Our investment in the bonds of the |
Products Company re-
mains unchanged and the improvements !
for which the bonds were issued have |
been substantially completed. The que
bracho plant In Paraguay is in operation |
and the meat canning equipment has re- |
Gently been put into service"
TRADE connections IN Far East.
The scope OF companies in the Machin-
cry Export Department, which also has |
had q satisfactory year of sales, has
bsen extended to China and Japan by the |
acquisition of the Horne Company, Linn
tied thus forming q chain of very i'm
portant trade connections in the Far
East. The American International Steel
tho Allied Machinery Com
pany OF America and several other COM
panies are listed In the report as having
made important foreign connections, in
Europe, South America and the Orient
In recent months.
During the year the corporation
bought the balance OF the stock of the
Rosin and Turpentino Export Company
and now owns the entire Arm.
Recently the corporation completed
In Italy the organization OF the SocIete
iEtude. with headquarters at Rome, and
similar steps are In contemplation In
other countries for the study OF oppor-
tunities for commerce. engineering
inance and construction.
me corporation shows gross earnings
'f sb.Sss.23s, an increase Of 81 .b84,319. or
more than 10 per cent over the proceed
Tsars operations, including the earn
fosin and Turpentine Export Company,
III stock of which was acquired in 1918,
he corporation reported a balance avail
irease of t+0s.025 from the 1917 balance. /
rhe 1918 balance equals. II Is calculated,
S.s per cent OF the cash paid in OF
at.a trl, !