Evening star., 1937-11-05
70 CENTS DIVIDEND
DECLARED BY RCA
Net Profit Of S6,599,111
for First Nine Months
Is Reported.
By the Associated Press.

By the Associated Press.
NEW YORK, Nov. 5.-Directors Of
Radio Corp. Of America today de-
clared dividend of 20 cents on the
common stock, first such disbursement
in the history of the company.
Net profit for the first nine months
Of 1887 totaled $6,599,l11, equal to 81
cents common share, compared with
$2,847, 1888, or cents share in the
like period Of 1895.
The regular dividend of 87ka cents
share was declared on the $3.50
cumulative convertible first preferred
stock. for the period from October /
to December 81, 1887.
On the outstanding shares of B
preferred stock dividend of $31.25 a
share was declared "for the period
from October 1, 1881, to December 81.
1887" This disbursement cleared up
all arrears ON this stock, of which
there were 1916 shares outstanding.
Payment OF these dividends, to-
gether with dividends paid earlier this
year. will bring total 1887 dividends
to about $6,450,000.
Continental Can Net.
Continental Can Co. reported for the
IL months ended September 80 net
profit of $8,589, ,430, equal to S3.01 q
share on common stock. This COM
pared with $10.685 ,OSO or 1916 share
for the IL months ended September
80, 1886.
The company said earnings for the
latest period showed effects of lower
can prices since January l, 1887. and in
addition the comparison with last year
reflected the full amount of special
adjustments of s2,500,000 made in final
quarter Of 1885 to cover refunds in
connection with the Robinson-Patman
Act.
Baldwin Locomotive Profit.
Baldwin Locomotive Co. reported
| net profit of $423.638 for the nine
months ended September 80. The
company said the nine months state
ment was issued in lieu Of the usual
| IL months statement to show the ef-
| fects Of the company's reorganization
| plan.
Van Norman Co. Net.
Van Norman Machine Tool Co. re-
ports net profit for the first 40 weeks
Of the current year of $270,455 before
provision for Federal taxes. This fig
ure, which is subject to adjustment
and audit by independent public ac-
countants, amounts to $304 per share
on the 88,829 shares Of common stock
and compares with S289, ,966, or 1925 q
share, earned on the same number OF
shares in the corresponding period OF
1886. The company notes that the re-
duced earnings reflect higher labor
costs. as we'll as the closing of the
plant during July because of a strike.
American Forging Dividend.
Directors of the American Forging
and Socket Co.. Pontiac. Mich, have
declared a dividend of IS cents per
share on the common stock, payable
December l to stockholders of record
November Is. 1887. With the payment
of this dividend a total Of $145 per
common share will have been paid
during the 1887 calendar year. A divi-
dend of so cents per share was paid
on August "a, 25 cents each on July
and June / and 20 cents on March
1897.
Hercules Powder Stock Split.
Hercules Powder. Co. stockholders
at special meeting approved pro-
posed amendments to its certificate OF
incorporation to permit the company's
issued common stock to be split into
twice as many shares. The split-uI
will be issued on November % to every
stockholder Of record November IL.
Steel Foundries Income.
American Steel Foundries, Will
principal plants in the Midwest, East
and Far West, for the nine month,
ended September 30 reported net in.
come of $3,562,637 after the Fedora
undistributed profits surtax. equal Il
S284 common share. This compare.
with net income of 81 1.846,0 or $1.5r
a share in the like 1886 period.
Hershey Chocolate Corp.
Hershey Chocolate Corp. and sub.
sidiaries, Hershey. Pa, stated net in.
come for the quarter ended September
80 was $1,l93,592 after interest, de.
probation and Federal income taxes
compared with $98O,723 in the Sep.
tember, 1886, quarter.
Worthington Pump.
Directors Of Worthington Pump ant
Machinery Corp. declared initial divi
dends of $4.31A per share on botl
series of its cumulative prior preferre,
stock payable on December Is. Thes
dividends represent payments at tn,
rate of Az per cent per annum ant
cover the period from January t,
December Is. They are the first to b.
paid on any of the company's stock
since 1882.
In announcing the dividend action
H. c. Beaver, president of the corpo
ration, stated that net profit of 81 ,402,
076 for the first nine months of 1893
was equivalent to $9.66 per share.
American Water Works.
American Water Works and Elec.
tric Co. for the IL months ended Sep.
| tember 40 reDOrted consolidated me-