Evening star., 1936-11-18
~ the Associated Press.

as one OF the competing lcdGuico VI
the dividend parade. Imposing sur
tax ranging from per cent to 27 per
cent on undistributed net earnings,
the new impost makes it necessary for
corporation executives to decide be-
tween paying out heavily to the Gov
ernment, distributing the profits to
or increasing operating costs by boost
ing wages and other methods. Thus
far indications point to a compromise
among the three.
Then, too. corporations in general
have earned more in 1896 than in
any year since 1880. The first 375
to report income for the nine months
ended September 80. showed a net
gain Of 57.8 per cent over the like
period a year ago. Many turned loss
into profit for the first time in years.
The huge United States Steel Corp,
with the best third-Quarter earnings
since 1880, was among the first to
loosen the purse strings. 1t offered a
general wage increase to the 200. 900
employees of its subsidiaries estimated
to aggregate $4,000, ,oOG year. The
entire steel industry followed suit,
adding, with United States Steel,
something like s75,000.000 in all to
workers pay rolls.
Huge Plums Divided.
General Motors and Chrysler divided
huge plums, both in the form of work.
ers' bonuses and extra dividends. The
big Oil companies followed, with
Standard Oil Of New Jersey Pumping
4,5oo,O00 in its employees hands. in
addition to an increased payment to
stockholders.
Today the record showed 81 Of the
larger and better known companies
had declared total of S403, ,991. .760 in
dividends Extra and increased dis
bursements exceeded regular payments
to stockholders. the former running to
S206,741,313 and the latter to $1e7,-
250,447.
The peak seemed to have been
reached. but hundreds of smaller COM
panies and some of the big ones have
yet to take action on distributions OF
their profits. If the surtax is to be
avoided, actual payment must be
made before the end of the year.
Yesterday, alone. 20 companies Or
dered nearly s50,Ooo,o 900 in cash paid
out to the owners of their shares
More than $4,000 workers, including
10000 in the cotton textile industry
received the promise Of more money
in their pay envelopes.
Other Dividends Listed.
Announcements came from every
field. The Chesapeake & Ohio Rail-
way awarded cash ana stock dividends
totaling s22,953,o00. Coca-Cola di-
vided an extra of $7,ss3,800 and
American Smelling & Refining tossed
an additional S4,177.365 into the hat.
Another copper company. Kenne-
colt, added S9,157,463; General Foods
boosted the total $2.363,l48 and
Youngstown Sheet & Tube, with ST.
237,5oo; Pere Marquette Railway, with
S2,240, 900, and Public Service of New
Jersey, with s1,100,639, shared swiftly
in the movement.
Employees of Corn Products, Coca
Cola, General Foods, Transue g. Will
liams and Commercial Investment
Trust were awarded Christmas
bonuses. Workers in the metal, rubber
furniture and other industries Joined
textile workers in receiving pay in
creases.
Sharing in the movement were
5000 workers of the Eagle Picher Lead
Co. in the tri-State district, embracing
parts of Missouri, Kansas and Okla
homa; 375 workers of the Hercules
Powder Co. at Hopewell, Va: 1000
employees of the United States Rubber
Co., In Rhode Island: 5000 employees
of the Aluminium Goods Manufacture
ing Co., at Two Rivers and Manitowoc,
wis; $500 of the Converse Rubber Co..
at Maiden, Mass, and 400 OF the
Johnson-Carper Furniture Co., at
Roanoke, Va.
Textile Workers Affected.
Approximately 5000 textile workers
received word from employers in the
Carolinas that their pay envelopes
would be fattened next week, and re-
ports from Greenville, s. c., said
leaders in the industry there, who de-
clined to be quoted, expected the
movement to spread.
OF the mills announcing raises for
their employees, practically all indicated
the increase would range near the 10
per cent figure, but said definite scales
could not be announced until wage
surveys could be completed.
Leading the parade were Cannon
Mills in the oncord-Kannapolis'
Salisbury, N. c., and York, s. G.
areas, with $4,000 employees; Burling.
ton Mills Co., with 1000 employees in
eight cities, and Marshall Field d Co
chain in Leaksville, Spray and Draper
N. c., and F1elddale and Roanoke, Va
A group of % mills in the Spar
tanburg and Greenville, s. c.. ares
added about $4,000 to the number oi
benefited workers, and the Hampton
group Of Pacific mills at Columbia
s. c., added 1900.
Spofford Mills, Inc, at Wilmington
N. c., with 420 employees, and Cone
Mills at Greensboro, with 5000, also
joined the procession. as did Erwin
Mills at Durham. where figures fol
the number of employees. known tc
be around 5000, were not announced
The Chadwick-Hoski chain, headed
by B. B. Gossett of Charlotte and EN-.
ploying approximately 1000 in bott
Carolinas and Virginia, said an in.
crease next Monday would be In ths
neighborhood Of 10 per cent.
Miners Get Pay Boosts.
Wage increases affecting 1850 min
ers, mechanics and smelter workerI
and boosting the annual pay roll o.
Arisonas leading mining communities