Evening star., 1939-04-18
|Johns-Manvi|Ie Nets
|$125,118 Profit for
First Quarter
Result Contrasts With
$239,475 Deficit in
Same 1888 Period
~ the Associate ted Press.

n" tne AbboClnLco FIs@.
NEW YORK, April 1s.-Johns-
Manville Corp. and subsidiaries.
makers Of building products, for the
first 1899 quarter reported net in
come of $125.1l8 after charges, equal
to $l67 share on the per cent
cumulative preferred stock. This
compared with net loss of $239 ATS
in the opening 1898 quarters.
while sales of $40 1897 ,408 for this
years first quarter were slightly
less than last years $l0,435, ,119, the
net income is somewhat better be-
cause of economies we have been
able to effect through our continuing
program OF cost reduction and ex-
pense control" Lewis H. Brown,
president, said.
Du Pont de Neinours.
E. I. du Pont de Nemours & Co.
announced in preliminary report
its earnings in the quarter ended
March 81 amounted to $l.55 a
share on common stock. This COM
pared with earnings equal to IS
cents share in the March quar-
TER last year.
California Standard.
Standard Oil Co. of California re-
ported it made $28 1875 ,654 net profit
in 1888. That was 1920 a share on
the 1902 900 shares of capital stock,
compared with Sal ,254, ,779, or $3.15
share earned in 1887. President
w. H. Berg said the oil industry
in California was in critical state"
because of overproduction of crude
oil.
Cities Service Co.
Cities Service Co. and subsidiaries
for 1888 reported consolidated net
income of $5,814514 after charges,
equal after preferred dividend re-
quirements to 26 cents a common
share. In 1887 the company had
consolidated net income of 9,6l5, TIA
equal after preferred dividend re-
quirements to 10 cents a common
share on the basis of capitalization
as of December 81, 1887. or prior
to the exchange in April, 1898, of
one new common share for each 10
old common shares outstanding.
Consolidated gross operating rev.
enues for 1888 totaled S215 1856 ,664,
against S241 ,256, 1888 in the preceding
year.
Reading Co.
The annual report of the Reading
Co. showed that the net income in
1888 available for dividends and
other corporate purposes was $685.
309, compared with $6,839, ,345 in
1887.
Earnings per share of first and
second preferred stock was S2.35
compared with $4S9 in 1887.
Earnings per share of common
stock after first and second pre-
ferred dividend requirements OF 81
per share each was IS cents, COM
pared with $3.50 in 1887.
Phelps Dodge Corp.
Phelps Dodge Corp. earned net in
come of about s2,100000, or around
AZ cents share. after depreciation
but before depletion, during the first
quarter of the year, Louis S. Gates.
president, told stockholders at the
annual meeting today. Due to the
small amount of copper on hand
with consumers" Mr. Gates added.
with any improvement in general
business conditions. there might be
buying movement in copper some
time in the next month or two"
Howe Sound Co.
Howe Sound Co., non-ferrous
metal producers, reported net profit
for the first quarter of the year of
S5l3,376, equal after charges but be-
fore depletion to SlO8 a share on
capital stock, compared with S494,-
873, or sl04 capital share, in the
like quarter last year.
Beech Nut Packing.
Beech Nut Packing Co. reported
for the first 1899 quarter after
charges and estimated Federal in
come taxes net profit of s523,55
or Sl.20 share (after preferred re-
quirements) compared with s522,-
871. or s1.20 share for the first
1888 quarter