Evening star., 1937-10-25
ARMCO REVEALS
S2,646,525 PROFIT

Quarters Total Compares
With S2,063,603 for Same
1886 Period.
BY the Associated Press.
NEW YORK, Oct. 25.-American
Rolling Mill Co., iron and steel man
ufacturer with plants in the Midwest,
East and South, for the September
quarter reported consolidated net
profit of s2,646,525 before the Federal
undistributed profits surtaX, equal,
after preferred dividends, to 70 cents
a common share on 2,868,535 average
common shares outstanding.
This compares with net profit of
$2,o63,6O3, or SO cents a common
share. on 2,279,950 average common
shares outstanding in the like 1886
quarter.
For the first nine 1887 months net
profit was s9,289, ,296. or $500 a share,
On outstanding common, against s4,-
36S.667, or Sl94 share, in the like
1886 period.
Consolidated Edison.
Consolidated Edison Co. of New
York Inc, and affiliates, for the quar-
ter ended September 80. reported net
income of 1921, ,058 after Federal in
come taxes, charges and subsidiary
preferred dividends, exclusive of SAL
834 dividends in arrears on New York
Steam preferred stocks held by the
public, and before provision for mi
nority interests in affiliated COM
panies.
This was equal after estimating mi
nority interests and deducting Con-
solldated Edison's preferred dividend
requirements, to approximately cents
a comman share, against SIS 1868, ,447,
or approximately 90 cents common
share in the September. 1886, quarter.
Bon Ami Co.
Bon Ami Co. reported net income
of s344.339 for the quarter ended
September 80. equal to 81 cents a
share on the class B stock This
compares with 1851 ,689 and 90 cents
share the previous quarter and
s309,975 and Sc cents for the corre-
spending quarter last year.
Bendix Aviation.
Bendix Aviation Corp. and subsi-
diaries for the September quarter re-
ported net profit of s279, ,207 after the
Federal undistributed profits surtax,
equal to 13 cents a common share.
This compares with net profit of
1925 ,453, or 80 cents a common
share. in the preceding quarter and
S267, $40, or II cents a share, in the
like 1886 quarter. For the first nine
months of 1887 net profit was s1,91l.-
168, or 81 cents a common share,
against s2,136,870, or sl.01, in the
like 1886 period.
Newport Industries.
Newport Industries, Inc, producer
of rosin, turpentine and pine oil, with
principal properties in Florida and
Louisiana, for the September quarter
reported net profit of S353,575 before
the Federal undistributed profits sur
tax, equal to 68 cents a common
share, against sl47357, or rs cents a
share, in the like 1886 quarter.
Consolidated Steel.
Consolidated Steel Corp, Ltd, with
plants in California. for the nine
months ended September 80. reported
net income of s245,o21 before the Fed
eral undistributed profits surtax. equal |
to SIP a share on the cumulative pre-
ferred stock. against sl45,615 or s102 !
q preferred share, in the like 1886 |
period.
Yale g. Towne.
Yale s; Towne Manufacturing Co., |
manufacturer Of locks and builders /
hardware, with principal domestic |
plants at Stamford, Conn: Chicago, /
Philadelphia and Detroit, for the Sep !
tember quarter reported net income
of S214539 before the Federal undis-
tributed profits surtax, equal to "A
cents a common share, against $685.
3l9. or SIS cents a share, in the like
1886 quarter.
A. E. Staley Manufacturing Co.
A. E. Staley Manufacturing Co. and
subsidiaries. manufacturer of corn and
soy bean products, with plants at
Decatur. ILL.,. for the II months ended
September 30, reported net loss of
s265.066, against net profit of 81 ,537,-
962 in the preceding II months.
Texas Pacific Coal & Oil.
Texas Pacific Coal & Oil Co. and
Sl1bS Si6iarieS crllde oil prOdIctS for |
the September quarter, reported profit
of S260,042 after ordinary taxes, de-
probation, depletion, etc, but without
provision for Federal income, excess
profits and undistributed profits taxes,
against profit of s235,O06 in the pre-
ceding quarter and s168,270 in the
September, 1886, quarter The COM
pany stated it made no provision for
Federal levies because it was esti-
mated that after adjustments to
tax basis there would be no taxable
income.
Magma Copper.
Magma Copper Co.. with properties
in Arizona, for the September quar-
ter, reported net income of $l35,708
before mine depletion, equal to 33
cents common share, against net
loss of S103 in the like 1886 quarter.
Panhandle Producing.
Panhandle Producing e. Refining
Co., with producing properties in
Texas, for the September quarter, re-
ported profit of $91,211 after charges,
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