Evening star., 1923-05-03
]. 7. HENDR|CK IS
IANST0N DIRECTOR
Monotype Company Yields to
Urge of Local SharehoId-
ers-Report.
BY 4. A. FLEMING.

At a meeting OF the shareholders of
the Lanston Monotype; Company. held
at Alexandria this noon. j. Thilman
Hendrick. one OF the largest local
stockholders Of the corporation. and q
well known Washingtonian. formerly
a Commissioner Of the District. was
chosen a director of the company.
This Is a victory for local share
holders who have long desired some
one connected with the corporation
who might from time to time report
on condition of the corporation. busi-
ness and outlook.
The satisfactory reports received
monthly from the Mergenthaler Com
pahy through Local Director e. J. Nc
Quade have been a constant urge for a
representative on the Lanston board.
This column has given urgent sup
port to the proposition and local in
terests will welcome the selection of
Mr.. Hendrick.
Lanston Report.
Annual meeting OF the, Lanston
Monotype Company was held at noon
today at Alexandria, Va.
There was good representation of
local shareholders at the meeting.
The report OF ]. Maury Dove. presi-
dent of the corporation, contained
much that was encouraging to the
stockholders, nearly 10000 Of the
stock being held in Washington.
The president said:
Il submit. at the direction and with
the approval of your board Of d.
rectors. a report of the operations of
the company for the fiscal year end
ing February 90, 1923.
THE net earnings OF the company
per cent on our capital stock. These
earnings we're almost entirely from
domestic business. Our contract with
the English corporation for machines
expired the latter part of last year
as. because of the extreme depres-
sion in European business, they had
accumulated large stock OF unsold
machines.
Our South and Central American
business was practically negligi BILE
owing to continued adverse condi.
tions OF exchange and collections.
The company closed its books with
no accounts payable, and after re-
ducing our bills payable about $780,
600. and after paying current divi-
dends for the year. the statement of
hand Of $5f1.737.55
In December Of this year your
company received a contract from the
English corporation for 400 machines,
deliverable monthly during the com
Ing year. To meet the growing de-
mand in their own and foreign coun-
tries. We expect to sell TO them during
the year large number OF type and
rule casters and of the new news
paper monotype machine (described
hereafter) for making leads slugs,
rules. ornamental borders and cut
off dashes
The financial report of the Eng
lish corporation shows them to be
IN sound condition and recovering
from the business depression of con-
tinental Europe.
We are pleased to report that ne
gotiations are now pending between
the English corporation and this
company for the sale Of a large mum
her OF Barrett adding. listing and cal
culatlng machines. To further NEE,
fected machine for making calcuia
tfons In sterling money. for which
we believe there will be q large de-
mand.
1t gives me pleasure to report that
our Barrett adding machine depart.
ment shows profit on the years
transactions. notwithstanding w.
scrapped great many machines OF
old Barrett manufacture and furnish
ed monotype-made machines in ex-
cnange for large number of old
barretts. We considered 1t to the
best interest of the company to make
these exchanges and to scrap the old
machines. thus removing from the
,, market machines which were not op-
Grating satisfactorily. Improve
ments have been made in manufae-
ture to standarize the machine in ali
ITS parts and because of this the
efficiency of the machine was increas.
ed in all respect~
After charging of the cost of these
exchanges and Of the improved man.
ufacture. and charging to the -Barret,
department its proportion OF over
head. we closed the Barrett business
for the year with a profit of some.
thing over S25, 900. which your board
feels is indeed a satisfactory show.
ing. The outlook is good for a sub.
stantiAl Increase in Barrett business
as the demand is constantly increas
i ing. We believe the monotype-mads
Barrett is the best portable addine
! and calculating machine on the mar.
| ket
After several years Of experirnen
| tai and development work we have
completed new monotype machine
for making leads, slugs, rules, orna
mental borders and cutoff dashes
| This machine is particularly adapted
| machines were exhibited at the
| annual convention Of the American
Newspaper Publishers Association In
New York city during the week o,
| April % and orders were received
from prominent newspapers for more
than fifty machines. There will also
! be a large field for this new machine
with book and job printers and-trade
composition houses. .s
"Frederic W. Goudy, our art direc.
\ tor. Is now recognized as the LEADING
designer of type faces. His inter.
probation of a sixteenth century face
attributed to Claude Garamont, is be
| ing most favorably received by the
| printing trade, as evidenced by large
sales of matrices and many letters OF
congratulation from leading typogra.
piers Mr.. Goudy's work is reflected
| in the improvement OF our older type
| faces and the adaptation to the mon.
otype of faces after the old masters
His original Kennerley face is useC
| in the printing Of this report. The
; complete series of the Kennerley fac.
| will soon be offered to the trade.
"All monotype-. machines taken II
exchange for improved monotypes OF
otherwise acquired have been rebuil
| and absorbed by the trade. At the
close of the year we had no second
hand machines in stock.
During the year many valuable
patents were issued and a large mum.
| Der of applications for new patent.
were filed.
cit is again pleasure to announce