Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-01


and no liabilities 4
other than $751; =
556.07 of thrift J. ThlIman Hendriek.
notes issued under
the plan to encourage employees savings.
Current assets are 50 times the current
liabilities, and 90 per cent Of outstand-.
ing capital stock. Cash on hand and
call loans total $1,6l2, 985.16, an increase
during the year In these two items OF
9427, 656.52.
Dividends paid for the year were
1890 600. this Including an increase for
the last quarter in the regular rate per
share from SO to 81 per annunl, also an
extra dividend for the quarter OF %
cents per share. The new regular rate
and the extra have been maintained in
the first quarter of the new fiscal year.
Sales Volume Increases.
FOR the sixth consecutive year there
has been an increase In the volume OF
sales Of monotype products. For the
i've months October, 1929, to February,
1880, sales were larger than for the
same I'VE months Of the preceding fiscal
year. This would indicate, said Mr.
Best that the printing industry did not
react unfavorably to the unusual stock
market conditions and that any general
industrial depression has resulted in an
increase Of printed advertising and sales
publicity.
Early in the year the Thompson Type
Machine plant was moved from Chicago
TO the Philadelphia factory. Manufac-
ture of the Monotype- Thompson on the
basis Of interchangeable parts required
re-designed Of many parts: This work
chimes were shipped within the fiscal
year.
Business with Latin America the
president reported has been larger than
Tor any previous year. In October, 1929,
Companhia Lanston do Brasil, s. A,
was incorporated in Delaware and Is q
wholly owned subsidiary Of Lanston
Monotype Machine Co. In November,
the company was properly legalized IN
Brazil and then purchased all OF the
assets of Companhia Monotypo do
company. The new company has made
most favorable progress under the direc-
ton of President A. Z. Pagola.
The report announced excellent sales
In Barrett portable electric adding ma
chimes and lauded the work Of Frank
J. Roderick In this division. Frederic
w. Cloudy art director, and Sol Hess,
assistant art director, as well as T.
Frank Morgan. William L. Madera,
Hiram l.. Walker, Frank M. Sherman,
also received special praise.
THE financial statement shows that
the company has $4,000, 900 stock out
standing of an authorized issue of $10,-
OOO, 900. The company had q balance
on hand on March /, 1885, OF
e4.5s2.592.66.
Hendrick Chairman, Of Board.
j. Thilman Hendrick, chairman Of
the board. presided at today's stock
holders meeting. Following the stock
holders meeting the directors organized
for the coming year, the officers being
J. Thilman Hendrick, chairman OF
board: Harvey D. Best, president; T
Frank Morgan, vice president; John A
Ferguson, secretary; Allen r. Fretz, as
treasurer, and Harvey w. Monks, as
6istant treasurer.
The directors include II. d. Best
philadelphia: M. G. Branch. Richmond
Va; Karl w. Corby, washington; John
W. Drye. IT,, New York City; ]. T.
Hendrick, Washington; Adrian H. Lar
kin, New York City: Royal T. McKenna
Washington; w. Usher Parsons, New
York, and George w. White, Washing
Ton.
The annual meeting Of the company
investors in view of the fact that q
large majority Of its stock Is held here
and It's activities are directed by Wash
ingtonians. The chairman of the board
Mr.. Hendrick, former Commissioner OF
the District Of Columbia under the Will
son administration: the president, Mr.
Best, d former resident Of Washington
IN the Government service; George w
White, president Of the National Metro
politan Bank; Karl w. Corby OF the
frm Of W. B. Hibbs g. Co., and Royal
r. McKenna, attorney, constitute the
washington personnel. The first Lans-
ton machine was also de-. med by 0
Washingtonian.
Bank Promotes Three Employees.
The board of directors Of the Ma
tional Metropolitan Bank yesterday
voted three important promotions
Rober Z. Briggs and Francis Z Hide
brand were elected assistant cashiers
Both are senior clerks Of long stand.
ing and have been made assistant
cashiers In addition to those already
serving in the same capacity. The
board also made Frank. Van N. Cool
auditor. Mr.. Cook, who has been with
the bank several years, nils o vacancy
IN that position. The banks officers
consider the appointments well de-
served.
Better April Reports Expected.
The Y. T. Booker 81 Co. current re-
view predicts that April returns, wher
they begin TO be available around MAY
10. will look much better than those
for March which barely maintained sea-
sonal improvement. Inclusion o.
Easter In April instead of March viii
give merchandising reports a better ap.
pearance while the depression will
doubtless prove q little longer thar
originally anticipated, there is no cause
for undue pessimism," the report adds
Exchange Trading Quiet Today.
Forty-five shares of Washington Me-
chanics Savings Bank stock sold at 81
on the Washington Stock Exchange to.
day. Railway g. Electric preferred
moved at 98ia, Potomac Electric Power
ST. per cent preferred came out al
1882 and Federal-American Co. com.
mon at 30k. Thirty shares OF Mer.
senthaler changed hands at 10794 and
the market closed with 10 shares Of
Peoples Drug Stores preferred selling
at i0s.