Evening star., 1942-02-18
Detroit Edison Co.,
Westinghouse Report
Gain in Earnings
Detroit Steel Products,
Maryland Drydock Co.
Also Show Increases
By the Associated Press.

By the Associated Press.
The Detroit Edison Co.. reported
today for 1941 net income of $12,-
443,l56, equal to $1.96 a share on
the capital stock, compared with
$10,732, ,735, or $1.69 share, in 1910.
A. G. Marshall, president, said the
company's officials felt confident
they would be able to supply "all
the power needed for all purposes"
serves. New facilities recently have
been added to service and more are
on the way, he said.
Westinghouse.
Westinghouse Air Brake Co. re-
ported for 1941 net profit of So
1885, equal to sl.9l a share on
its capital stock, compared with S.
SOL sos, or $1.76 a share, in the pre-
ceding year.
Maryland Drydock Co.
The Maryland Drydock Co., Bal
timore, reported today net profit for
l94l was 81 ,107, ,929, equal to $3.50
a common share, compared with
$522,679, or S3.48 common share
in the preceding year.
George H. French, president, said
sales for 194l totaled $16.503 ,025,
an increase of 1877 per cent over
1910, largely due to Government
business, but attributable in part to
a gain in commercial work. He said
personnel increased 1900 men to
record total of 5,l00 at years end
and that possibly 1900 more would
be added this year.
Detroit Steel Products.
Detroit Steel Products Co. re-
ported for the year ended December
81, l941, net profit Of $782.177 after
estimated reserve of $4,000 for
Federal income and excess profits
taxes, equal to $4.03 a share on
1884 shares of common. This
compares with 1910 net profit of
S704,6l6, or 1888 share, after
deduction of a Federal tax reserve
of 1922 900.
American Seating Co.
American Seating Co. and sub
sidiaries of Grand Rapids, Mich,
reported a 194l net profit of $685.
OBJ, equal to s2.28 a share, as
against s456,679, or s207 a share, IN
1910. Federal tax provision was
s425 900, as compared with $l47,000
the preceding year.
Chesapeake & Ohio.
Chesapeake & Ohio Railway de-
clared a common dividend of rs
cents payable April to stock held
March g.
Gross income of the c. g. o. was
reported up almost 20 per cent
last month over January, 1941, but
the roads net was less. due to
greater tax ALLEGATIONS. The gross
was sl2,0s1,S83, comparing with
$10,337,673 last year. Net amounted
to s1,764, ,289 against s2,244,776 in
January, l94l. Tax accruals this
year were s2,467 67,247-including Fed
eral income and excess profits taxes
of $l,575, 1892 for the month-against
accruals Of sl,454,443 in the 194l
month.
McKesson & Robbins, Inc.
McKesson g. Robbins, Inc, drug
manufacturers, reported for six
months ended December 81 consoh-
dated net profit of s3,957,543 after
charges and setting aside a reserve
of 100000. The statement was the
first issued since the return OF the
company to private management
after its prolonged period of reor-
ganization. w. j. Murray, presi-
dent, said sales in the period
amounted to $102, ,45l .571. compared
with s80,861 ,566 in the comparable
period of 1910.
Wilson g. Co. Reports Gain.
Stockholders Of Wilson g. Co.,
packing firm were told at their an
nual meeting yesterday in Chicago
that business for the first quarter
of the company's current fiscal year,
beginning October 26, was profitable
and had shown a substantial gain.
Edward F. Wilson, president, said
serious consideration" was being
given the stockholders question as
to when common dividend payments
would be renewed. However" he
said, sit does not seem wise to bor-
row more money from the banks
with which to pay dividends"
He said the war has caused some
changes in the company's packing
methods and in details of produc-
ton, but no major changes to new
products have been necessary.
Keystone Steel g. Wire.
Directors Of Keystone Steel &
Wire Co. declared a dividend of IS
cents share on the capital stock,
payable March 16, 1912, to stock
holders Of record February %. This
will bring total dividends paid thus
far during the current fiscal year,
which began July !, 1941, to 90 cents