Evening star., 1928-05-03
LANSTON REPORTS
GAIN IN EARNINGS
Sales in Western Hemisphere
Increase for the Fourth
Successive Year.
BY EDWARD c. STONE.

BY EDWARD c. STONE.
Another splendid business and finan-
cial wear was reported by the LanSton
Montoyoc Machine Co. at the annual
meeting of the stockholders held this
noon in Alexandria. Va,
After adequate provision Tor plant
ana patent depreciation and for Feoeral
taxes. President Harvey II. Best reported
a net cain in earnings for the year. be-
fore dividends. OF S5s0,o4i o..
The president Of the company re-
porteG that FOR the fourth successive
wear Monotype sales in the United
States and Canada and in South and
Central America increased.
REGULAR quarterly dividends Of IL
per cent were paid and the company
again closed It's fiscal year with no bills
or accounts payable and no obligations
other than thrift notes issued under the
employee savings plan. Mr., Best stated.
Current assets, he added including
cash on hand of SSSa.17656. bills and
accounts receivable. securities owned
and inventory Of Sa!able stock at cost
total S4T40, 1920.
Summary Of Financial Statement,
The company's president said that
there is now a definite trend III the
printing industry toward better ty-
pogTa ply and better quality printing
which means that the outlook is bright
There mas been a gratifying develop
rlent Of business in al the firms prod
uctS The English company also re-
ported increased sales and profits dur
i1e the wear
T.le annual report of the treasurer
Jnel c. Clemmer. shows cash on hand
al the end q. the fiscal year, February
90. as s650276.5s; accounts receivable
from. customers. SS4S, 1897: notes re-
eejvable, $i.527. 1869, inventories ta'
cost. SI17i 1913 26. and investments tat
coSn. S445.772z2. these current assets
totallng the figure mentioned above OF
So 74o. 752 20. or So times current la
bilitieS
Under Eablutina on the balance sheet
there are M ~ec31nts PAYABLE and no
notes parable 10 banks or bankers. The
Ss3. .003.6 IS for the savings fund for the
emnlQveS covers cr9F>ev being allowed
for the purchase Of stock, homes or for
ether uses TO which the men on the
paw roll may put IT,
The Monotype company has $4,000
IN reserve for income taxes. OF the
authorized capital stock Of Sl0,00o.0oO
there is ncw $1,000 000 issued and out
panv raid $3.50 600 in dividends.
During the year there was deducted
for obsolete machinery, etc. relating
70 prior years. more than Sl02.5oO
Taxes uaid and accrued amounted 70
SIS5. .6S7. .o5 and the amount charged on
for depraciation Of patents and plant
totaled s27i. .245S IS.
After these deductions the COMPANY
had surplus on March !, 1928. CT
81 zosn924.o3.
Ianston Officers Reelected.
J. Thilman Hendrick Of this city,
chairman OF the board, presided al To-
dzy's meeting and a very large per
cerfags of the stock vas represented by
proxies
The officers and directors. who were
reelected. were as follows. the size OF
the board having been reduced from II
10 g.
J Thilman Hendrick. chairman OF
board: Harvey D. Best, president; I.
Prank Morgan, vice president. John A
Ferguson. secretary: Allen r. FTefz.
assistant secretary: Joel G. Clemner.
treasurer. and Harvey w. Monks. assist
ant treasurer.
Branch. Karl w Corby, Halliburton
Faies. ] Thilmsn Hendrick. Adrian H.
Izrkin. Royal T McKenna. w. Usher
Parsons and George w. White.
Gas stock Sells on Today.
washington Gas Light stock sold OF
q Little TODAY. following its recent sharp
advance. Ten shares opened al 80 ano
ore share sold AZ 9l3s.
Iensson Monotype sold on the day
OF the annual meeting at 1i0az. The
market opened with IS shares OF Poio-
nlac Electric Power 8 per cent preferred
selling 81 ii3is Peoples Drug Stores
preferred again sold al III.
Ten shares Of American Security d
Trust Co. stock came out at 453.
Merchants Bank & Trust again moved
az ISL. and Columbia Sand & Gravel
registered q i0-silaYe sale al SO. Mer-
chants Transfer s. Storage appeared
or the beard az l07l2, and National
Mortgage 6. Investment preferred al
S.
Bends we're firm. Railway q, Electric
Is commanded 3d. Washington Con-
solloated Title 6s changed hands at
100. Washington Gas SIS were steady
az I0354. and City q, Suburban Rail-
way IS closed the session with S4o0
transfer at s97a
Gieaned in Financial District.
TIE bankers' weekly luncheon at the
willard yesterday was graced by the
presence Of J. 4. Fleming. veteran
financial editor and writer, VINO has
sgat returned from q long Sotourn at
Melbourne. Fla. Pop" has recovered
fyou. ris illness Of several weeks ago
snd Is looking fBe"
Z z. Booker Of the investment firm
Of :. E. Booker IL Co. sas the principal
speaker a. the dinner meeting Of the
Business and professional goman's de-
Iarfnqenx of the T. w G. A. last eve
Ming The subject discussed was
"TnYeet nlents"
limitations were mailed today fH the
opening Of the rev X street branch of
the Security Savings IL Commercial
Bark. which viii take place on Monday
Ifag 7 On the opening Gay the bank
TlI be Cpen from s.50 a N. until Q pm
for inspection.
A. meeting o. the stockholders Of
the Mount vernon Savings Bank held
yesterday afternoon Richard G. Zant-
Zlf2geg As8 elected " the board of
clrectoya. The new director fills the
vacancy oa the board caused by the
cea.n q MS father. O. r Zantzinger
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