Evening star., 1940-03-18
S322,121 Net Earned
By United Air Lines
During 1899
Result Contrasts With
So97, ,221 Loss for
Preceding Year
BY the Associated Press.


NEW YORK, March 18.-United
Airlines Transport Corp. reported
for 1889 net income of 1922 ,12l, or 81
cents per outstanding share. The
1889 profit compares with net loss
of s997,2 ,221 for the previous year
Passenger revenue increased 1868 per
cent to s7621, ,80l Mail revenue in
creased 56 per cent to $3,702,07l. Air
express revenue increased 1877 per
cent to $497,867.
w. A. Patterson, president, report
ed operating the entire year 1889
without passenger or crew fatality
or injury.
During the year the company
placed equipment orders calling for
seven new ''mainliners' for 1910
delivery and 10 four-motored AZ
passenger -mainliners" for
l94l delivery.
u. S. Smelling & Refining.
American Smelling e. Refining
Co. and subsidiaries reported con-
solidated net income for 1889 of
$13,O57,l or S4.36 a common share,
compared with the previous years
total OF $10,6ll ,8O9, or 1924 a share.
Sale of excess stocks and release
of cash formerly tied up in deliver
ing metals to purchasers in foreign
countries increased the year-end
cash position to S25 1922 ,022 dnclud-
ing United States Government
bonds compared with the previous
year-end total of S2l ,40O,437. Excess
of current assets over current liza
bilitles at the year end totaled $72,-
602,543.
The company reported it's excess
metal stocks had been practically
eliminated by the year end.
United Carbon.
United Carbide & Carbon Corp
reported net income for 1899 of
S35, BAT, 400 after all charges, equal
to 1886 share on capital stock
This compared with s25,l73,4l2, or
S2.77 a share, in 1888
Jesse J. Kicks, president, told
stockholders in the annual report
Approximately $8,5OO,O00 was ex-
pended during the year for con-
struction and other capital pur-
poses, exclusive of the acquisition of
the assets Of Bakelte Corp. 1t is
anticipated it will probably be neces-
sary to spend larger amount in
1910 to provide additional facilities
to take care of the increased de-
mand for oxygen. alloys, organic
chemicals, carbon and other prod.
uCtS.
Pullman, Inc, large railroad
equipment manufacturer and Sleep
ing car transportation firm, reported
a 1899 consolidated net income of
s4 4,O09,475, or Sl03 a share, COM
pared with $2295 1929, or SO cents.
in 1898.
Earnings of 50 $50 ,2e8 in the Sleep
ing car business, compared with
S2,504,266 in 1888, after withhold
ing from each years air-condition-
ing revenue the respective amounts
OF S2,152 500 and $2218,O53 as de-
terred credits applying to future
operations.
Earnings from sales in the manu-
featuring business were s418.348,
compared with s239,933 in 1898
Earnings totaled s1,694,0 from Sc
curlty investments after provision
for administrative expense of the
parent company and were the high
est since 1924, comparing with
1852 922 in 1888.
Notice OF the annual meeting of
stockholders at Wilmington, Del, on
April II was given in the report by
David A. Crawford, president.
Copperweld Steel.
CopperWeld Steel Co.. Glassport.
Pa, for the year 1889 TODAY re-
ported net income of S934,348 after
charges, equal after dividends on
the companys cumulative preferred
stock issued during the year, to
S2.05 a common share. Net income
in 1888 was $6l9,853. The company
now has outstanding $4,000 shares
of cumulative, convertible per cent
preferred stock and 431,714 COM
mon shares, exclusive of 138889
common shares reserved for con-
version of preferred stock.