Evening star., 1941-04-22
Texas Co. Earnings
Well Below 1910
In ; Months
March Quarters Net
Estimated at Only
81 Cents q Share
BY the Associated Press.

BY the Associated Press.
NEW YORK, April 22.-W. s. s.
Rodgers, president of Texas Co.,
estimated at the annual meeting Of
the oil firms stockholders today that
consolidated net income in the
March quarter had fallen to $6,600,-
900, or 81 cents capital share, from
s12,800OO0 or Sl18 a share, in the
like 1910 period.
He ascribed the decline to four
principal reasons: The lower price
of gasoline, increased Federal taxes,
flush production in the Illinois field
and accounting changes.
Concerning the immediate outlook,
Rodgers commented: In the last
10 months the industry has grad
ually readjusted itself to the loss Of
European markets and, since the
outlook for domestic consumption is
optimistic, due largely to defense
activities, we are hopeful that the
industry will be through the year
in better balance than in 1910"
Shell Union Oil.
Shell Union Oil Corp. in report
for the quarter ended March 81 yes
terday showed profit of s3,62l, ,794,
equal to % cents a share on the
common stock. This compared with
S5.314,158. or 81 cents a share in the
1910 March quarter.
Gross sales for the quarter were
s62 900, ,646, against s67006,32l for
the 1910 period,
Arkansas Natural Gas.
Arkansas Natural Gas Corp. for
the year 1910, reported consolidated
net income of Sl616.235 after
charges. equal after preferred divi-
dend requirements to around cents
a share on combined common and
Glass "a" common stocks. This
compared with So 2467.158, or Is cents
a share on the combined common
stocks in 1889.
Consolidated gross operating rev.
enues in 1910 totaled S29 .35l ,0O4,
compared with s27.833 ,923 in 1889.
The company. a subsidiary OF
Cities Service Co, conducts gas
and oil business In the Southwest.
Tide Water Associated.
Tide Water Associated Oil Co, for
the initial 1941 quarter, reported net
income of S2,859950 after charges,
equal after preferred dividend re-
ouirements to 36 cents a common
share, compared with $3.50 .220. or
so cents a share, in the first quarter
last year.
Gannett Co.
Gannett Co., Inc. and wholly
ovned-subsidiaries reported conSoli-
dated net profit, including equity of
Gannett Co, Inc. in undistributed
profits of controlled companies,
aggregated s275.834 for the three
months ended March 81, compared
with $3.50. $50 for the first 1910
quarter. Equity of Gannett Co, Inc,
In undistributed profits OF controlled
companies was stated as S72,083.
The Gannett Co, publishes news
papers and operates radio stations.
Republic Aviation.
Republic Aviation Corp, manu-
facturers of high altitude pursuit
aircraft, had in 1910 the first profit
able year in its eight-year history,
w. Wallace Kellett, president. SAID
today in an announcement after the
regular meeting of the Board of Di-
rectors.
For the year ending December 81,
last, net sales of airplanes and parts
were s10,313,745, he said, producing
earnings equal to 50 cents per share
of common stock after reservations
to cover all taxes and 100000 to
meet dividends on the convertible
second preferred stock. The COM
pany's backlog is in excess OF $780,
1000, Kellett said.