The Bridgeport times and evening farmer., 1922-03-06
Gillette Made
 Great Earnings
 During 1921

Boston, March 6.-With almost monotonous regularity the Gillette Safety Razor company, the dominant this country but in the world, has been hanging up new records of earnings. ng The year recently closed earned before taxes $7,O0S,5 which compares with s6,SO3,407 in 1920, S6,- n2, $50 in 1919 and '$5,252,1 in 1918. In fact, for each year of the has increased it's earnings over the preceding year, an achievement wor- thy of more than passing comment when it is remembered that the past war readjustment periods.
 At the end of 1921 the company had outstanding 2T5.000 shares Of stock, but as 25,000 shares of this cent. stock dividend paid in the final month of the year it is fairer to figure the earnings on the z5O,VOo shares of stock which were outstand- this basis the company earned, be- fore taxes, $2S.03 a share on its stock. While many industrials came through 1921 with deep scars, it was the most prosperous year in Gil lette history, as attested by the pay ment of dividends totalling SIP in latter dividend having a current mar ket value of more than SIS.
 No less than the income account, the balance sheet of the Gillette Go. is a positive revelation. Its total quick liabilities on Dec. 31 last were $265,S7S in accounts payable, which compares with notes and accounts payable of more than $7,0O0,00 three years ago. Company is also running very strong in cash, with $2 434 ,437 on hand Dec. 31 last. Inventories and recefvab1es were slightly reduced during the year.
 The Gillette management in 1921 launched it's most important mer- chandiZing campaign in connection with the introduction to the shaving public of its New Improved Razor, and at the same time decided to market the old type Gillette, with fewer blades and in different case, at greatly reduced prices. The result was the largest sale of extra blades in the company's history at 9,531. S61 dozens and a turnover of 4,24S,069 razor sets. which latter figure com pares with 2,090,616 sets in 1920 and was exceeded only in 1918 when more than threequarters of the sales were to the army and navy.
 The prosperity which came to the Gillette Go. in 1921 has spread over into 1922. January sales were over 264, 900 razor sets anda more than 1,447,000 dozen extra blades. This compares with 15S,00O razor sets and 867, 900 dozen extra blades in Janu- ary, 1921. January is usually a period of stock taking by dealers and new orders are kept down to minimum.
 More or less talk is heard of ruin ous competition to American manu- factured products from cheap Ger man limitations. So far as the Gil- 1ette Company is concerned, an off, cia1 states that the January sales above noted are the best answer to this fear, and asks the pertinent question, "Why hasn't German com petition hurt Gillette sales in Ho1- land, which is Germany's next door neighbor and a country in which Gill letta has had no patent protection for years?' As matter of fact the razors being shipped to the United States by the Germans are lacking in shaving efficiency, a handicap which the difference in price as com pared with the Gillette is inadequate to overcome.