Evening star., 1921-05-05
[ANST0N EARNINGS
!: UP TO ESTIMATES
Net Over 27.70 Per Cent.
Local Bank Deposits Gain
-Four Millions.
BY ]. A. FLEMING.

BT ]. A. FLEMING. .-.
= The annual meeting OF the IAnston
Monotype Company was held at noon
today at Alexandria. Va, the cor
porat:on being organized under the
laws Of Virginia. A fair representa-
tion OF shareholders was made in
person but chiefly by proxy.
The report of the president Of the
corporation. J. Maury Dove. showed
the largest net earnings for the
poration. sl,6s3.52s.1o, or about 2i.'o
per cent or a fraction more than
27.7o per cent. practically the highest
estimate OF the 2et for the year.
small inventory. si.ssl4l5.es. and as
surance was given the shareholders
that the inventory was taken at
actual Cost.
port of the fnal adjustment OF the
clam against the government Tor
war materials "at a small protit TO
the company for its efforts.
j. Maury Dove. president or tnr
company, reported in part as to'-
lows:
'"The board OF directors. at a meet
ing held May 5. approved the follow
ing as the annual report OF the COM
pany for the year ending February
2S. 1921. and instructed me TO pre-
sent it to you.
The net earnings for the year were
S1.6s3.52s.7e. the largest prohts ever
shown in any year. These earnings
were not the result Of large prom
on any single unit, but the result OF
The stockholders, the board fees
should be highly gratifiod at IL
| showing. not only on account 81
the earnings. but also as demonstrs
ing conciusively the prominence thdt
the monotype has gained among
printers throughout the entire Worlu:
FOLLOWING the usual custom, ami
, in order TO keep the company abrs:,:t
! of the times in manufacturing taci
ties. a large amount of the compan-
earnings were reinvested IN iac'o'S
equipment.
"Cnless unusual conditions :r's-
our business. for the ensuing !r 6
should be in a satisfactory |oiai -.
! Present labor disturbances douott"H'
will temporarily retard safes. nu.
! upon the settlement OF these a,s'a. ~
ances we believe that there Ni+t ~" u
greater demand in the printing inotS -
! for labor saving machinery.
! The EnEIish Corporation.
"The business Of the English COT
noration in its territory has been
/, fairly good. although consideraol% IN
; terfered with by the conditions lnei-
, dent to the aftermath OF the war. Mm
have a contract with that corporation
| for delivery Of large number o,
! keyboards. casting machines ana
parts. BY reason of the rate OF s1
! change. and at the request OF that
! corporation. we have deferred in part
deliveries under this contract, as
strict compliance as 70 oenNeTes
would work serious injury to them
and would not benefit the future bust
ness of that corporation and your
| company.
i government was finally adjusted by
| the government on basis that
| showed but a small profit to the COM
f; Dany for the work done.
| 'The companys collection OF both
bills receivable and open accounts
"The treasurer's report presented 10
! you herewith shows marked I'M
/. provement in the financial condition
Of the company.
! .Yt Is worthy Of comment that not
vithstanding the many machines
sold and shipped during the last year,
only the machines under three con-
tracts were returned to US. In few
instances where machines had to be
reclaimed by us they were sold at
profit without being returned.
! 'The board of directors are pre-
senting for your consideration Two
minor amendmentments to the oy-
! laws. the first changing the day OF
the regular monthly meeting from
TnesdaS to Wednesday. in order to
better suit the convenience OF MEM
bers Of the board.
.aThe second. to enable the board OF
directors to declare dividends at any
meeting and not a. at ssaesbIe sssted en- ae
count Of the difficulty experienced at
times in securing a quorum on the
days of stated meetings.
Both these changes are recon-
mended for your favorable considera-
ton Many patents were taken out
| during the year and many applica-
! tions for patents were filed. i again
record with much pleasure the favor
! able relations existing between the
company and its employees. notwisn-
| standing the unusual unrest stun e3-
| listing throughout the country"
railway Preferred Dividend.
The regular preferred dividend OF
! the Washington Railway ana Eec-
tric Company has been declared pay.
able June 1. books closing NAY ~
ner cent semi-annual distribution to
shareholders who have not arranged
| for the quarterly payment
Bank Statistics.
Elsewhere will be found the state,
| ment Of deposits of Washington
! Rs INKS. showing the large increase IN
accumulation during the intsFs e 'e
| tween February 81 and April e.
Secretary Mellon: commenting on
the action Of the federal reserve oans NJ
| of New York in reducing the rate OF
S;scomnt on commercial paper. etc.
| from to sls per cent. said:
action of this character renects
tendency toward relaxation in ore. otnsr
"Tt ;s nrohahle. that the federal re-
F! ssrvs hank Of Chicago might antie,-
! nate the crop movement season WHO
q reduction" ,a;,;.,s
| all over the country ~ s,.et couId
not be said Of the industrial condl-
ton. with business slack. he eh
n,ained. "the banks were not usihs
much money, and consequently Inc