Evening star., 1924-07-28
BUSINESS
Up TOLAST YEAR
Linotype Official Expects
Same DividendHLanston
Stock Goes Higher.
By CHAS. p. SHAEEEER.

both the foreign and domestic bust
ness OF the MergenthaIer Linotype
company are very good, according to
Norman Dodge, vice presiden. of The
company sailing on the White Star
liner Celtic.
we are selling machinery all over
the world" said Mr.. Dodge. "Our
brltlsh' German and American plants
are operating at full capacity. Earn
lngs are running about the same as
last year. There is no possibility, so
lar as know, Of our 10 per cent divi-
dend being increased. There will be
no stock dividend.
1T sometimes takes three years to
make collections on our notes, and
TINS requires a large amount of CAPT
TAI. We practically have to finance
some or the small country publica-
tlonS throughout the world, but we
always keep their secured notes in
our treasury and never discount then
inns is an intangible asset. but adds
tremendously to our good will.
our year ends in October, and
see no reason why il should not be
as good, and possibly a little better.
than last year" Mr.. Dodge concluded
In the absence of definite figures
local shareholders of Mergenthaler
of which there are many, will gleaA
considerable satisfaction from Mr
Dodse's remarks. While his trDa
abroad has pleasure as it's primary
OBJECT, II is understood he will deyot,,
d oeal Oh ms tlme 70 opening neft
avenues of business for the produ/
he represents.
Trading on LocaI Exchange.
Lanston Monotvpe disnIayed :.
stronger tone in today's session or
the Washington Stock Exchange, ana
while only II shares were traded il.
the price was at an advance OF ap-
proXlmately liz points at 1874.
Hallway preferred was strong Il.
- 4, as was Traction at g5I. a.f
95as. Gas 6s of 1888 sold al 1olas
downward to l0011, with Capital Trac-
ton 1s firm at SsI4.
Reserve boards Review.
Decline IN production OF basic com
modities and factory employment, as
we'll as recession in trade, is shown
in the Federal Reserve Boards sum.
mary OF general business and fnan-
cial conditions for June. :.
The report published today discloses
mat Doth wholesale and retail trad
decreased during the month and was
In smaller volume than a year ago
II mentions, however, some bright
spots IN the wholesale business, bur
does not give hope for Increased tradc
IN any particular section or in any
single comm odlty.
On the basis of the boards records.
the production in basic industries. ad-
JuSted TO allow for seasonal varia-
tlonS, declined about per cent in
June I. which places it at a point o.
per cent below the level of the first
Two months of this year The most
marked curtailment of activity was
shown in iron, steel and cotton manu-
featuring Industries. The decreases
were general, however, in most other
Industries.
Further Decreases in June
The reduction in factory employ
ment, prevalent in April and MAY,
decrease of per cent was noted
in the metal, automobile, textile and
leather industries. Some of the other
industries showed large cuts in their
working forces, but the most notable
reduction was observed in the four
lines mentioned.
The slackening in general business
was reflected in railroad shipments.
which in June were more than II
per cent less than for the same month
railroad movements was noted in the
smaller loadings OF all classes of
freight. except grain and live stock.
which continued to move in satiSfac
tory quantities
Retail Stocks Reduced.
Relative to wholesale trade. which
on the basis of the Reserve BoarTl
averages was II per cent smaller in
June than in June a year ago, there
was reported slightly increased sale
of hardware. drugs. shoes and dry
goods. Department and chain store
sales showed more than the usual
seasonal decrease during June and
Iar
year ago. There was however, less
than the usual seasonal decline in
mail order sales. which were almost
on a parity with June of last year.
The summary indicates that the
principal department stores of the
country have further reduced their
stocks of mercha ndise. but increa aSed
slightly their outstanding orders.