Evening star., 1940-04-16
THE EVENING WASHINGTON, G, TUESDAY
General Foods Nets
S4,310,045 Profit
In Quarter
Result Contrasts With
$3,913,566 Recorded
In 1889 Months
BY the Associated Press.

BY tne Associated PreSS.
NEW YORK, April 16.-General
Foods Corp. today reported earnings
of $4,31O,045, after provision for
dividend on the preferred stock,
during the three months ended
March 81. This was equal to 80
cents share on common and COM
pared with $3,9l3,566, or rs cents a
common share, in the first quarter
last year.
Sales of $40,477 ,226 set new quar-
terly case volume record, according
to a statement by c. M. Chester,
chairman, and Clarence Francis,
president, which accompanied the
report. This compared with $780,
544 ,O19 In the same period of 1899.
Interstate Department Stores.
Interstate Department Stores, Inc.
had a consolidated net profit OF
$32O,970 in the fiscal year ended
January 81, Reagan P. Connally
president. told stockholders in the
annual report yesterday. This COM
pared with a net loss of $39,084 in
the preceding IL months.
Sales of $24, 100, 1922 represented an
increase of Sl,OO3,l35 over the pre-
ceding year.
During 1885," Connally said, ZAP
proXimately $150,0OO was spent in
modernizing various of our stores
The Peoria and Milwaukee stores
were completely remodeled Some
physical improvements have been
made in the majority of the stores
We have a program developed to
modernize all of our stores"
The company has around 40 re-
tail outlets through the Middle
West, East and South.
General Electric.
General Electric Co. earned a net
profit OF Sl1,95l 450 in the March 81
quarter, equal to al cents a share
on common stock, Charles E. Wilson
president, told stockholders at the
annual meeting. This compared with
$7,373,43l, or 26 cents a common
share, in the March quarter last
year.
Sales billed in the quarter in
creased 25 per cent to s85, ,949, ,OOC
from S68 ,537 900 a year ago.
All directors were reelected.
Gillette Safety Razor.
Gillette Safety Razor Co. and
subsidiaries reported for the March
quarter net profit of s696,447, equal
after IS preferred dividend require
ments, to 16 cents a common share
compared with SS67 SAT. or "a cents
a share, for the March, 1899, quarter
Southern Kraft.
Southern Kraft Corp. reported
net profit for 1889 of S2539 ,OOl after
all charges, including depreciation
compared with sl,O37,211 in 1898
The company, which is controlled
by international Paper Co., a sub.
sldlary Of International Paper &
Power Co, charged Sl,725.459 tc
depreciation, against $l,457,974 ir
1888.
CRANKY ConSOlida ted.
First quarter earnings of CRANKY
Consolidated Mining, Smelling &
Power Co. were double those for the
1899 first quarter which amounted
to about $l02 900, A. S. Baillie, vice
president and general manager, tolc
stockholders at the annual meeting
j. B. Beatty, president, said the com.
pany is considering plans for a new
smelter and for the production o1
blister copper. Its properties are ir
British Columbia.
Phelps Dodge Corp.
Phelps Dodge Corp. had estimated
consolidated net income for the
March quarter of $2,412OOO, or 4s
cents a share, Louis S. Gates. presi.
dent, told stockholders. At the an.
nual meeting last year the first
quarter earnings we're estimated a!
equal to AZ cents a share. Both
estimates were after depreciation
but before depletion.
Gates said he was reluctant te
express an opinion as to the com.
panys business prospects this year
because of present economic condi.
tions."
Sharon Steel Corp.
Sharon Steel Corp. reported its ne
profit in the first quarter of 194(
exceeded its net profit for the full
year of 1889.
Net profit in the first three month!
of the year amounted to $3O9,576
against a net profit of $255 497 II
1889. Net earnings in the first
quarter last year were $7,613.
Gross sales during the first quarter
of the year amounted to $4,9l2,432