Evening star., 1925-02-17
N-SACKS ADDS
$322,75O SURPLUS
Company Shows Steady Gain
in Earning PoWer-0ther
Financial Notes.
BY CHAS. p. sHAEFFER.

ehocu DeCefnDer 81, 1874, Ed
ward S. Perot. jr.. president Of the
corporation. told stockholders at the
annual meeting held in Richmond
this morning
The income and expense account
for the year follows:
Cost Of sales and eipenses... SSsi s47ss
otbs, ,.. 1861, 800. So
Neuue'iohs. hs.....-.-......... 60,370. %
IF Isont he before depreciation. sso1, $50. 40
HesS allowance for depreciation. 253, 4s0. 20
Bet PROFIT before taxes. s347 75o %
1f,orIalns reserve for Federal
'.''..... .................. d 600 90
Net aooition to surplus. .. $500 $50 20
Inc corporation had total asse,s or
*6,s2O,857.76 on December ~ Iost
rms includes cash to the amount M
90 o'Iso' accounts receivable of s3O7.-
80, merchandise inventories of s34s
oao ana marketable securities of SOS
o5o. Land, buildings and eouipman+
are listed at s5,282.617, which is re-
saIoeo as conservative by the Ameri
Saii appraisal Co. Deferred charges
amount af to s191,1o6, and the good Will
oI tne company is listed at S1.OO
me company is capitalized at s5-
o'f'ooo classified as follows: Eight
per cent preferred stock, s1,417.1OO:
per cent general preferred, s2432
Wv class AZ common, S1.179,70O. and
GLASS common (no par), $4,000.
Statement to Stockholders.
IN statement to stockholders Mr..
eroe said the corporation not ONLY
improved Its earning power during the
year, but also improved its current
nhanclal position in spite of the fact
that the weather of 1924 was adyers.
10 the sale of ice cream, which fact
caused bitter complaint by all manu-
1acturers of this product in the coun-
Try Mr.. Perot revealed that de-
taiieo check of the titles, also deeds
ana leases OF real estate and build
ines mas permitted the proper record
ing OF all property, with the result
tnat all titles are now clear
Considerable money was spent dur
ing the year to improve and recondi-
tion most Of the plants and equipment
OF the corporation, but the thought
was expressed that the EXPENDITURES
were wisely and economically made.
ana that the earnings for 1925 will
more than compensate for the forced
ADDITIONS to the corporations perma-
nent assets. These expenditures
however, made it ecessary to hold
back the dividends on the per cent
general preferred stock, but 1t is ex
pected these stockholders will be re-
lmoursed on and after June 1 of this
year.
New Director Chosen.
Stockholders. following the report.
added James Mullen to the directorate
In place of F. E. Noting, at the same
time re-electing the following direct
ors for the year: Edward S. Perot, ir.;
H. j. Adair. ]. a. NJ. Adair, H. II.
Ooear. j. E. Richards, r H Weber.
Z. j. Gockeler, A. F. Williams, W. a,
H. church and E. c. Brandenburg.
Election of officers and members of
the new executive committee will be
made on February 81.
Local Trading Heavy.
one Of the heaviest trading ses-
s,ons OF the year was recorded on
the Washington Stock Exchange
today, with but little change in price
levels. Washington Gas stock re-
acted fractionally to SIX on a sale
or 100 shares, and Commercial Ma
tlonal Bank was easier at 157 on a
sale of 10 shares. Thirty shares of
continental Trust Company brought
80, and Riggs National Bank re-
manned unchanged for the day after
gain to 331A.
common sold to the extent of 80
shares at 100$, with the preferred
issue changing hands at, s1A. Cant
tai Traction declined to 90 after
opening an eighth higher.
On the unlisted section one share
OF departmental Bank sold at 6.
New Offering on Market.
crane, Paris & Co. today are offer
ing $2,25O,O00 of Richmond Cedar
Works first (closed) mortgage AZ
per cent sinking fund gold bonds. ma
turing January l, 1945, at 100 and
interest.
The bonds are direct obligations of
the Richmond Cedar Works, secured
by closed first mortgage on over
$4,000 acres of timberlands, valued
at more than $4,000, 900, and on manu-
Iacturlng plants at Richmond and
Camden appraised in excess of
S1,500,00O.
Earnings of the works ayerage
so41,495 annually for the last four
and ne-half-year period A sinking
Iund Will be maintained to retire the
entire issue by maturity.
Good Progress on Bank,
ihe steel work, aggregating 500
tons, has all been placed in the pew
home of the Federal-Ameriean Ma
t1onal Bank, the main banking floor
has been poured, the mezzanine floor
Is being poured and II carloads of
stone Is now awaiting the construc-
e.on urn. mis- briefly, sums up the
status of the new building.
The building is expected to he
under roof by May l and be ready
Tor occupancy some time next Fall
Ford Seeks Bond Issue,
The Detroit, Toledo and Ironton
Railroad (Henry Ford's line) applied
TO the interstate Commerce Commits
sion today for authority to issue
s1,1s1.0oo in refunding bonds. The
securities will evidence a part of
the cost of constructing 20 miles OF
new line between Flatrock and Bur
ban, both in Michigan.
Gain Noted I'm Factories.
In spite of the usual period of in
ventories and slack business en-
countered in industry during Jand-
ary, employment in manufacturinr
industries showed an increase of
per cent in January, as compared
with December, 1t was shown in a
report made public today by the
Department of Labor.
Wage figures, however, shifted
slightly to reduce the total earnings
of employees in S,7S5 reporting es-
tablishments rs per cent. The slight
increase in business indicated was
general among the industries, al
though exceptions were shown in the
stone, clay and glass industries.
Teller to Undergo Operation.
Fred E. Ryon, savings teller at the
Merchants Bank and Trust Co., en-
tered Sibley Hospital yesterday for
an operation that will keep him
away from his duties for the next
two weeks.