Evening star., 1940-03-15
Republic Steel Net
Hits Best Level
In History
Earnings Still Fod
To Cover Arreoruqes
On Preferred Stock

CLEVELANO, MdfCQ 10.-fOr the
benefit of its 6O,40O stockholders-j
twice as many as it had nine years
ago-Repubic Steel Corp. explained
today what happened to its 1899
gross income of $231, ,736,957.
Materials and similar expenses
took 1882 per cent; wages and SAL
aries, 1921 per cent; depreciation
and depletion, 4.94 per cent; taxes,
4.13 per cent, and interest, 1.80 per
cent.
The remaining as per cent repre-
sented net profit of $1067l, ,343 for
the Nations third-largest steel pro-
ducer, on an average production of
68.2 per cent OF capacity led by the
final quarters 923 per cent. l.
THE amount of net profit for
the year is gratifying only because
1t is greater than in any other
year since the corporation was
formed 90 years ago." Chairman
Tom Girdler and President R. j.
Wysor said in the annual report.
THE amount earned is less than
5 per cent on the money invested
by stockholders, without compensa-
ton for materially lower profits
IN several instances net losses-dur-
ing prior years. Common stock
holders. the basic owners of the
business, have had no dividends
since 1880, and up to the end of
1889 the aggregate of net earnings
had not justified the full payment
of cumulative dividends on the
preferred stocks"
Dividends are paid up on the
per cent cumulative convertible prior
preference stock, series A, but on
the per cent cumulative converti-
BILE preferred there was an unpaid
accumulation of $18 a share as of
January l, amounting to $2,152,746
General Foods Corp.
NEW YORK, March Is R).-Gen-
eral Foods Corp. reported its biggest
years profit since 1931-net earn
ings for 1889 of SIS 5,118,063, or $2.75
a common share, compared with
$13,142,075, or $3.50 a share, in 1888.
Company records were set in net
sales, $l45,615,242; number of en-
ployes, 11,lO3, and value of inven-
tories, $35,917, ,28l. The size of the
latter was announced as advisable
In view of new conditions arising
from the European war"
LOckheed Aircraft.
Lockheed Aircraft Corp, an
nouncing the highest sales and
profit records in the company's his
tory, reported net income for 1889
of $3,l32,918. or $4.04 each on IT'S 900
shares of comon stock outstanding
This was gain of 609 per cent
over the 1888 profit of $442,111, or
81 cent each on 660,879 shares.
The 1889 sales totaled $35, ,308, ,149,
mainly representing British orders,
compared with s1O,274,5O3 in 1898.
Robert E. Gross, president, stated:
"The backlog of unfinished business,
which on December 81, 1899, stood
at $43,953,726, on March l, 1910,
amounted to $57,35O,865, consisting
of $39,748.691 foreign military or
ders, s7,513,492 domestic military or
ders and $l0,088, ,682 commercial and
private orders"
NatlOnal cash Register.
National Cash Register Co., Day.
ton, Ohio, for the year 1899, re-
ported net profit of $1,805, ,086, after
charges, including $265,984 foreign
exchange conversion adjustments,
equal to $11O a share on common
stock.
This compared with net profit in
1888 of $2,392 $40 after SAB 900 for
eign exchange conversion adjust
ments, equal to STAT a common
share
Earnings for 1885, the company
pointed out, included net profit from
the company's operations in foreign |
territories of $685. ,784, after foreign
exchange conversion adjustments, |
compared with 81 l,18O,833 in 1898.
United Engineering.
United Engineering & Foundry
Co., makers of heavy steel ma
chinery, for the year 1889 reported |
net earnings of $2,149,3 after |
charges equal after preferred div
idends to $255 a common share,
compared with $3,192,619, or 1892 a
common share in 1888.
George T. Ladd, president, said
"at the beginning of this year our
carry-over of untitled orders, in
cluding substantial volume of |
foreign orders, should keep our shops
operating at capacity well into the |
fourth quarter of 1940." Around |
one-third of last years earnings re-
suited from foreign business. ne |
added.
Doehler Die Casting.
Doehler Die Casting Co., for the |
year 1899, reported net profit of
S682,043 after charges, equal to $241
q common share, compared with |
3,608, or 10 cents common share
In 1898. Commenting on the 1910 |
outlook, H. H. Doehler, chairman of
the board, said:
I'VE are assured of good first |
quarter. Beyond that period it is
difficult to predict, due to the I'M
certainties created by the European
war, the presidential campaign and
the general economic conditions"
Armstrong Cork Co.
The Armstrong Cork Co. reported
1889 net income of 81, ,485 ,009, equal
to $3.O3 a share of common stock
This compared with 1888 net income
of $1,150,795. or II cents a share.
H. w. Prentiss, jr, president, said:
1.-THE recent trend of business in
this country and the leved of activ-
ity maintained so far this year
encourage the management of the
company to believe that prospects
for the second and third quarters
are good. It is believed that
the year 1910, on the whole, will
average somewhat better in total
volume than 1882"