Imperial Valley press., 1934-02-05
CATERPILLAR
SH0WSPR0F|T
IN PAST YEAR

A substantial profit, an upward
sales trend, full cooperation in
the governments unemployment
program. careful management and
aggressive product improvement are
all reflected in the report OF Cat
erpillar Tractor Co. for the year
1898, copy of which has been re-
ceived by Hulse-Anderson Tractor
and Equipment company, valley
distributors for Caterpillar.
In his message to the stockholders,
President B. c. Heacock reports
sales for the year of $14,408,002. 62,
an increase of per cent over 1882.
Profit for the year was 1902, 1854
as compared with a loss of ST.
616,872.96 for the preceding year.
These figures are even more I'M
pressive when it is remembered
that the company reported loss
of $470,763 for the first six months
of 1888. An upward trend in sales,
commencing as far back as last
March, contributed to the profit
that was made during each month
in the last half of the year, and
the resulting profit for the year
as a whole.
The strong financial position of
the company is set forth in the
balance sheet Cash, u. S. Govern
ment certificates of indebtedness
and state and municipal bonds,
aggregating $6,337, 1884, exceed the
total Indebtedness of the company
The ratio of current assets to cur
rent liabilities is over 20 to one.
During the year. $1,719,00O pal
value of the company's convertible
gold notes were purchased and re-
tired and depreciation in the
amount of $1,792,979.23 was charged
against current operation.
While this splendid record OF
earnings and management was be-
ing made the company was CO.
operating to the fullest extent ir
the governments unemployment
program. Even before the code fcl
| its industry had been approved al
Washington, the company an
nounced complete compliance ano
reduction of working hours from
from "A to 40 hours per week. AT
the same time, wages and salaries
we're adjusted SO that employees
would not have their incomes re-
duced as a result of shorter hours
Better sales, increased inventor
les and the 40-hour week have
greatly increased the number OF
employees, and over 1000 men were
added to the company's payrolls
during the last six months of 1888
During the year, many import
ant steps in product development
were announced. Three Diesel
tractors, and an equal number OF
Diesel power unites were placed
on the market. A new and great
ly improved elevating grader, with
full power control, was introduced
and power control was also made
available on the two largest blade
graders
In commenting on the prospects
for 1884, ulse-Anderson Tractor
ana Equipment Co., state, Nat
urally. we are proud of the record
Caterpillar made in 1888, and we
are looking forward to even better
things during the year ahead
Each machine in our line is up tC
the minute in every respect, and
yet it has been thoroughly proved
in the field. In spite of rising
prices for raw materials, shorter
factory hours and increased wages
our company has not raised prices
and the great economy and eff
ficiency of the new Diesel tractors
power units and power controlled
graders make Caterpillar products
better value today than ever be-
fore. We have some of the latest
models on display in our showroom
at 1414 West Main street, Ell Cen
tro, and the public is cordially in
vited to inspect them"