Evening star., 1939-03-14
North American Nets
$15,109,007 in 1898,
Or S1.55 a Share
1888 Total Contrasts
With Sl3,502, ,4S0 in
Previous Year

| Ey the Associated Press.
NEW YORK, March 14-North
American Co., one of the Nation s
largest public utilities holding COM
panies, reported today net income
for 1888 of SIS, ,109,007, equal to ST 1.55
a common share. This compares
with 1887 net income of $1S,5O2 48O,
or 81 95 a share.
James F. Fogarty, president, re-
ported to stockholders the decline in
earnings was mainly due to the busi-
ness recession which began in the
fall of 1887 and continued through
the summer of 1888.
He continued: Better business
conditions in the fourth quarter of
1888, when our subsidiaries estab-
llshed new high records in electric
output, have continued so far in
1899.
Gross operating revenues of the
North American system for the year
aggregated S1l6572,1O2, compared
Cleveland Graphite.
The Cleveland Graphite Bronze
Co. for 1888 showed net income of
5000, ,658, equal to 96 cents a share on
the common stock, against net in
come of Sl,5038 825, equal to S4.67
share, in 1887. Ben F. Hopkins,
president, estimated profit for the
first quarter of 1899 would exceed
total 1888 net income.
International Nickel.
International Nickel Co. of Can
ada reported for 1888 net profit of
S32,399,470 after all charges, includ-
Ing taxes and depletion. This was
equal to S209 share on the COM
mon stock and compared with profit
OF S50,2e9,623, or 3.3l a share, in
1887.
commenting on the years results,
Robert c. Stanley, president, said:
Inc decrease in nickel consump-
tlon occurred principally in the
United States markets, the con-
sumption in European and other
markets as whole showing little
change. In the United States
markets the consumption was great
er in the last half than in the first
nall OF the year, giving encouraging
evidence OF improvement in the in
dustrial situation there"
indicative Of the improvement in
general business the latter part of
1888 Stanley reported fourth quar-
ter earnings totaled S8,115 .O95,
against S7,552,l23 in the third
quarter.
Columbia Pictures,
Columbia Pictures Corp. for the
quarter ended December 81 report
ed net income of S26S,2O9 after
charges, equal after preferred divi-
dend requirements to so cents
common share. This compared
with net loss of $233,612 in the pre-
ceding quarter and net income of
S3O3.750, or 73 cents a common share.
in the December, 1887, quarter.
White Sewing Machine.
White Sewing Machine Corp. for
the year 1888 reported consolidated
net income of S250.245 after charges,
equal to $3.50 share on 100000 |
shares of 81 convertible preference
stock, on which unpaid cumulative |
dividends at the end of the year
totaled S34 a share In 1897 the |
company earned S299,136, or So 80 a
preference share. Plants are at
Cleveland, Ohio.
Air-Way Electric.
Air-Way Electric Appliance Corp. !
and subsidiaries for the year 1888
reported net loss of S4O.655 after
charges, against net loss of SAP. 300 |
in 1887. Plants are at Toledo, Ohio
Empire Sheet & Tin.
The Empire Sheet & Tin Plate Co. |
showed net loss of S423 .97o last
year, compared with a s243,415 profit |
IN 1887, President James M. Hill re-
ported.