Evening star., 1953-02-17


dent j. Will
lard Marriott,
founder of the - -
eStaurant Mr.. Marriott.
chain, Mrs. Marriott and Paul
M. Marriott.
The remaining $4,000 shares
will be offered by the company.
Of the latter total, $4,000 will be
offered to company employees at
a discount from the public Of
fering price. which Is to be an
nounced later.
The statement filed today
listed Johnston. Lemon & Co..
Washington investment firm, as
chief underwriters. It is UNDER
stood that a nationwide dealer
group will be organized to mar
ket the shares.
According to the statement,
directors have declared a quar-
terly dividend of IS cents q
share. payable April Is to hold
ers Of record April /. This in
dicates an annual dividend rate
Of so cents a share.
Marriotts Keep Control.
On completion Of the stock
offering the company will have
outstanding 499, $40 shares of
common stock and 204, 800 shares
Of class B common, the latter
owned by the Marriott family.
OF the total Of 704,800 shares,
70 per cent will be owned by the
Marriott family, its associates,
management and employees.
Both classes of stock have
voting rights, but directors re-
serve the right to declare divi-
dendS on the common without
declaring dividends on the
Glass B.
This reservation was declared
designed to assist the company
in maintaining a consistent di-
venend policy on the publicly
held common. The class B shares
are convertible into common on
a share-for-share basis. Divi-
dends are not cumulative.
Sales Show Big Growth.
Sales volume in the fiscal year
ended July 81, 1852, totaled $19.-
1885 VS.. $15.6s2.201 In the
previous period. It also con-
trasted with $9.31S,12S in the
fiscal year ended July 81, 1897,
and only $5.736.253 in the year
ended in July, 1943.
From August !, 1852, to De-
cember 81. 1852. volume rose to
$8,168,2S1 VS.. I7,105,180 a year
earlier.
Net income for the year ended
July 81, 1852. was $532, ,730, after
taxes, VS.. $3.50. .991 In the previous
year. $275.875 in the year ended
in 1947 and $153,953 in the year
ended July 81, 1943. Net after
taxes in the August 1-Decem-
Der 81, 1852, period was $297,-
632 VS.. $135,760 a year earlier.
Started With One ShOppe.
The company started with one
hot dog and root beer stand
here in 1927 and now includes
As establishments in 8 States
and more than 5000 employees.
The Washington area has %
establishments. There are 8 in
Philadelphia, 2 in Georgia, 8
In Florida, 3 in Chicago and one
each in Newark, N. j.; Balti-
more, Salt Lake City, Richmond,
New York and Norfolk.
Operations include dining room
and counter service. cafeterias,
curb service. pantry houses
(carry-out), airline catering and
in-flight service. The company
operates employe cafeteriaS for
q number of airlines, industrial
plants and Government off1ces.
Among its clients here are the
Treasury Department. the SEC
and the Naval Communications
Annex. It also serves the Ford
Motor plant in Norfolk, the Gem
eral Motors plant in Atlanta,
Ga, and the Studebaker plant
and the Bureau Of Public Debts
at Chicago.
1t has its own commiSsary,
which operates kitchens. a
butcher shop, q bakery, an ice
cream plant and a transporta-
ton department.
d. C. Hotel Sales Down.
Washington hotels had q 4 per
cent decline in sales volume for
1852, compared with the previous
year, a summary from Horwath
& Horwath, hotel accountants.
disclosed today.
Room sales Of the Capital es-
Establishments covered by the
firm, were down 8 per cent, while
restaurant sales were 5 per cent
below the preceding year.
New Parking Aids Branch.
The Northeast Branch Of the
American Security q Trust Co.
has had o gratifying customer
response to the opening Of its
new parking lot in the rear Of
the building.
The new lot has been In op-
Grafton only a week and a half.
but results Of this additional
convenience for customers al
ready is apparent. bank officials
said.
Hamilton Program Praised.
The district department Of
the American Legion has hon.
ored the Hamilton National
Bank for its weekly radio por-
trayal Of Matt Cvetic's expert
ences as q Communist for the
FB1.
Comdr. Robert A. Bunch, de-
partment commander, appeared
on the WRC program last night
to present the bank with q cita-
ton Of merit for outstanding
service to veterans.
Elected by Texas Firm.
John Rowland Hill, Washing
ton consulting engineer, has