Evening star., 1942-02-17
$17,324,310 Profit
Earned bye. |. 7.
In Last Year
Result Compares With
1880, ,222 Recorded
During 1910
D. the Associated Press.

~ tue Ab6OClAteQ HIecS.
NEW YORK, Feb. 1.-THE Com
mercial Investment Trust Corp, a
finance company, reported today
combined net earnings for 1941 of
s17,324,310, equal after preferred
dividend requirements to $4.78 a
common share. compared with SIS
805 ,222 or $435 share in the pre-
ceding year.
The total included undistributed
net earnings of the National Surety
Corp, a wholly owned but unoon-
solidated subsidiary.
The volume of obligations &C
quired during the year was largest
in the concerns incorporated his
tory at $1,638 ,679, LAB. Outstanding
receivables at the end Of 1941 were
$685., 703, ,686, an increase of $79,-
99,986 over a year earlier.
In letter to stockholders, Presi-
dent Arthur o. Dietz and Chairman
Henry Itleson said:
"The earnings reported were
realized under conditions which
have undergone abrupt and signifi-
cant change because of the war.
Although we start the new year with
. larger backlog Of receivables on
the books than a year ago and
large deferred income reserve, earn
ings will decline because the new
business volume in the installment
credit field (Which in the past has
contributed the larger part of our
earnings) will be greatly reduced
until the manufacture of motor cars
is resumed and the manufacture of
other consumer durable goods is in
creased. -
"On the other hand, there have
been some new opportunities pre-
sented for the employment of our
funds and services. Some financing
has been extended to industries
having primary or secondary con-
tracts for the production of war
materials"
Beneficial Industrial.
The Beneficial Industrial Loan
Corp. and subsidiaries reported con-
solidated net income after Federal
income and capital stock taxes of
$5,828,118 for l941, equal after pre-
ferred dividends to S235 a common
share, compared with s6,43l 1892, or
$26l a common share. in 1910.
Western Auto Supply.
The Western Auto Supply Co.
(Mo) reported net income for 1941
was $3,200,710, equal to s4.26 a COM
mon share, compared with $2,916,578,
or 1888 a common share, in 1910.
w. Humphrey, president, in let
ter to stockholders, said forward pur-
chases had been made where neces-
sary, but that sales volume in 1912
cannot be expected to be as large
as it was in 1941." They said the
company entered 1912 with the
largest inventory in its history.
Ward Baking Co.
The Ward Baking Co. showed a
net profit for the fiscal year ended
December n, 1941, of $150,820,
which contrasted with a net loss of
$46,7 ,745 for the year ended Decem-
Der 28, 1910. Faris r. Russell, chair
man, commenting on the 1941 re-
port, said the company operated at
a loss until some improvement in
bread prices was obtained in Au-
gust" pointing out that low fixed
prices for baking products made
difncult the meeting of Sharply up
ward spiraling costs" for ingredi-
ents, supplies and labor.
Lima Locomotive.
Lima Locomotive Works, Inc, re-
$1,270,144 after all charges and
taxes, equal to $500 a share on its
capital stock. This compared with
1910 net income of $87007, or Al
cents q share.
Childs Co.
The childs Co., restaurant chain,
reported 1941 loss of $121, 1868, COM
pared with a 1910 loss of $719,153.
American Seating.
American Seating Co. had profit
Of $505,031 in 1941, equal to 1928
capital share, against $456,679, or
$2.07 a share, in 1910.
Alpha Portland.
Alpha Portland Cement Corp re-
ported for 1941 net profit Of $685.
672, equal to 500 a capital share,
compared with s918,084, or $1.44 a
share, in 1910.