Evening star., 1936-07-15
A.T.T.NET INCOME
HIGHEST SINCE 1881
June Quarter Report Shows
Balance Equal to $1.97
a Share.
BY the Associated Press.

NEW YORK, July 15.-Reporting
the largest June quarter net income
since 1881, American Telegraph &
Telephone Co, in a statement re-
leased today, showed a balance equiv
alent to $197 a share on the capital
stock. against Sl.55 for the three
months ended June 80. 1895.
Net income was s36.s31, ,687, against
$28,873,527 in the corresponding Pc
riod last year. Walter S. Clifford,
president, in a statement accompany
ing the figures. said earnings re-
hected the receipt of a 50-cent divi-
dend from Western Electric Co., a
subsidiary, the first revenue received
from that source since 1881.
Consolidated Statement.
In a consolidated statement cover
ing American Telephone and the sub
sidiary Bell companies for the three
months ended May 81 there was
shown net income of s45, 1856, 739,
after dividends on preferred stocks
OF subsidiaries, equivalent to $2.42 a
share of the parent companys capital
stock. For the like period last year
net income was $32,l53,385, or sl.72 a
share.
For the IL months ended June 80
net income of the parent company
was S138,047,778, equivalent to s7,4o
a share. compared with sll8,865, ,4O2,
or $6.37 share, for the preceding II
months
Consolidated net income for the II
months ended May 81 was $l66,8l2,70o,
or S8.l3 a share of American Tele-
phone stock, against SIPS ,994,7l2, or Sc
a share, for the II months to May 81,
1885.
President Clifford reported gain OF
385 900 telephones by the Bell system
during the first half of 1885, compared
with an increase of 20l 900 for the
like period last year. The company
has in service approximately 27,OOO
telephones. which is still about 1858 900
below the maximum reached in 1880.
Indicated net income of American
Telephone g. Telegraph Co. itself for
the six months ended June 80. as COM
piled from the quarterly statements,
was S7l ,279. sos, equal to 1881 share,
against $58,970,8l5, or $3.l6 share
in the first half of 1885.
Magma Copper Report.
Magma Copper Co. Maine corpo-
ration, with principal properties in
Arizona, reported for the six months
ended June 80 profit of $755.227 after
expenses and depreciation. but before
Federal income taxes and mine de-
pletion, against s4o7, ,o88 for the first
half of 1885. Indicated profit for the
June quarter was s408,35l, against
Sl64, $50 in the same period last year.
United Fruit Co. producer of
fruit, sugar and other tropical prod
ucts and operator of freight and pas
senger steamships from Central and
South American ports and the West
Indies to the United States. in an es-
innate Of apparent profit for the six
months ended June 80. before taxes,
showed S6,878000, against estimated
profit Of s4,55o 900 in the first half OF
1885.
Lehieh Portland Cement Co., with
plants located throughout the Mid
west, reported today for the II months
ended June 80 net profit of Sl,170,857,
compared with s682.649 for the II
ended June 30. 1885. Based
on the new capital set-up, these earn
ings are equal, after u months pre-
ferred dividend requirements. to S1.38
on the common. compared with SO
cents on the present share basis
year earlier.
Supervised Shares, Inc, an invest
ing company, reports as of June 80
adjusted net asset value per share of
s1364. an increase of slightly over SO
per cent from the comparable figure
at the close of 1885.