Evening star., 1922-05-04
.LANSTONREP'ORT'S'
.SPLENDIDE|ARNNGS
Fiscal Year Shows Over 13
Per Cent Net Gain-0ther
Features of Report.
BY I. A. FLEMING.

BIZ i. n. FLEMlN1s
Stockholders of the Lanston Mono
type Company held their annual
meeting in Alexandria, Va. this after
noon.
Much, interest was manifested in
the meeting and in the earnings FOR
the fiscal year. as there has been no
intimation as to the earnings
The printing business has been
greatly disturbed with labor trouples.
are covered in the annual report.
months when many of the leaolns
corporations of the country were IN
trouble, failing to earn DIVIDENDS anu
even going into the care of credi1ors.
j.. Maury Dove. president OF tne
company, reported Lanstons earnings
as little over 13 per cent. or the
dividend. plus per cent surplus.
showing that was received favorao!y
by investors and stock BROKERS' 80
Mr.. Doves report follows: ..-~,
:. I'm accordance with instruction. 9
given at meeting of the board OF
directors, held on May 2. !SZ2, ano
with the approval of the board OF
directors, / submit to you Tor your
consideration the annual report OF
Nthe company for the fiscal year endins
February IS. 1922 ..s
1.-THE net earnings of the company
for the year were s7s6,6so. 46, iracs
tion over 13 per cent on the issueo
capital stock.
I'm view of the countrywide busi-
ness depression, this being most pro-
nounced in the printing industry by
reason of complications between labor
and the employing printers. the board
feels. this showing is gratifying.
Cash Increase, 100000.
THE financial condition of the COM
pany has improved. notwithstanding
its bills payable have icreased 1t Will
shows an increase Of over $780, 900.
Its accounts payable of last year,
over S15O,00O. have been entirely
liquidated. and the purchase OF the
Barrett assets. was a cash transac-
tion. ..-
.Since March 1. 1922, the beginning
of the new year. bills payable have
been reduced about s250.00O. This
was possible by reason of the sale or
many machines for cash at good
our bills and accounts receivable nav
ing been met by our customers with
unusual promptneSs.
"The business of the English cor
poration came almost to standstill
during the year owing to a complete
business stagnation in the territory
supplied by it and also by reason of
the continued high rate of exchange,
yet it took and paid for all of the
machines ordered by them from US.
Its financial condition is most satis-
factory. p
"The South American business was
practically suspended during the year
owing to difficulties in the collection
of accounts in those countries.
1--WE are pleased to say we have
made no losses in this field.
The Barrett Purchase.
Your company purchased certain
of the assets. good will, trade marks.
machines, etc, Of the Barrett Adding
Machine Company. and have since re-
chinery of that company in our plant
We are now manufacturing and de-
livering Barrett machines from our
factory.
This machine was made after care
full investigation by the board of that
machines merits, and further because
the manufacture of the Barrett ma
chine being so similar to the manu-
facture of our keyboards. our equip
ment and force were particularly
adaptable for such purpose. As we
had considerable. available machinery
on. hand and sufficient space not used
since the close of the war. with the
machinery taken from the Barrett
plant and without, further additions
to our plant, we have ample space
and equipment to turn out from fif-
teen to twenty adding machines per
day.
This adding machine branch Of our
business should aid materially in in
creasing the profits of our business,
as the general overhead will be con-
siderably reduced. -,
A Finished Machine.
''The Barrett Adding Machine is a
complete, calculating machine. 1t
AlA ofc nj fplf fSysL4
and lists. printing the proofs of its
operations. 1t is portable, being very
light, and is, we think, the most
efhcient machine of its class on the
market.
"The substantial demand for this
the fact that it will be Monotype
made, thereby insuring the best of
finish and Workmanship. BY reason
of our experience and shop skill in
manufacturing machines requiring
the greatest accuracy in workmanship
and finish. and further by reason Of
the excellence of our sales orsaniza-
tion. which is second to none in the
country. we believe our manufactur-
hng experience and shop skill and
bults and we look forward confidently
to large and remunerative business
tn this branch.
1--WE are pleased to again report that
the company has no secondhand
Monotype machines. Machines were
exchanged for later models and those
received in exchange were rapidly
absorbed by the trade.
"A number of patents were taken
out during the year and a large num-
ber of applications for patents were
filed.
THE relations Of the company and
its employees are most cordial, not
withstanding the unrest and unsettled
labor conditions existing throughout
the country.
~. MAURY DOVE. President
Victor Talking Machine.
President Johnson declared that the
ssvolume of our output was maintain
ed. almost identical with that of 1920,
our best year" The company reported
an inventory of s13.061 ,26S; values
patents. good will. etc. at So; owes
nothing to banks and has $31 1,351,O25
surplus. but only $4,000 cash.
nAlI HDIInE nII nurnIIrs