Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-05-12

The Company maintains Its largest plan at North Charleston wbero here ,o
ne oo nan 'oo. mehanHal employees 1t hast wn villages, separate for White
ana coIored, cottages rented to its employees at a yey Low rental. ~ 49,. 49,
hospital nov bang erected at a cost of SOS 900 00O) and resident nbVsGaar Thss
EN- mp eEGe @o or the Conpany arc utomaucan covered by life Insurance the amount
amour is increased to 100000. It's labor conditions are excellent and the moruIss
o. IT'S organization of the best so far as We can ascertain, 1t being or aim 70 hrne
aoo Inns . oeSr APES STATE OF affairs, nd at the same III 70 are seeking to draw
INTO oW rapidly developing enterprise the ablest, finest, most energetic and sambnjonss
young men OF our city, and to enthuse them with. b cain and ideals of Ia go
pany. "" u Ie Cm-
In the United States we sel our goods trough our own Offices ourt orus a. solo
are 80 days net subject to 2 per cent discount o days. 'o
Computing the percentage of our BAD debts to sales, based on orr records from
SOo as as Tar back as we can ind them, we agurei in tht period for each H. $1,000 Of
sales ,we have l%t through bnd debts $3.50 and for the year 1918, our losses from
800 total sas being, as previously sated. $3.50 900 90. 'N""u ~
PROPERT1ES-Tha largest plant of the Company is located nj North cbo-os
about six miles up the Cooper River from Charleston, {. c. and incIudjna I'll
lagos is appraised by Lockwood, Greene & Company. Manager, ana FRn ng VIZ ~,
This plant is believed to be The largest Textile Asbestos lant undor mo roo,
part perhaps nearyo nehafo of the Asbestos Textiles madei in hi United states "s'
Plants !, and 4 are located in the City of Charleston, between Meeting md
East Bay Streets and on or near Cumberland Street. These n nIam,s awe ~e ing ma
in the aggregate at 35o!Ooo0o sound deprecated values rs of January
totals appraised valuation of or plants Of 81 220 O00 10. as of Janumuv1 ISmn me d
plants are carried IN our balance sheet at s97OoOOoO. ness
BY referingt to the statement of earnings it will be observed that h mr. bo,rs no
have added in the past five years-to invested capital from arningsNs3o o mo ~
it will be observed that isa nnua addition ito apnala assets from earninss s
past five @rsa amounts to $5O0O0OOO per year. ""e'
FoREIGN CoMPEIlIIioN-Wer recently addressed a letter to a large New york
banking institution as to he prospect off foreign competition, m have bn0 adrrsaS
upon investigation 1t seems shat continental anufactures OF asbSosr 1855
be- abb TO make but little adv In getting reesabished for thoo to i've yoaars
AS w con in contact with the situation through our daily activities T. ,.
pears to us that the demand for such products as we make is increosrmn IL ap D.
likely to continue to increase, no only in the United Sates.b but III over TIE uMs
and thGeforea as rapidy as possible, We are making every effort to be renreserrte1 H.
our w Offices in the principal cities Of the world not onvN In !" Eu vpreseh na by
the Far East, South America INT British Dominions P" Jul III
The more important provisions regarding preferred stock are specified below: