American Tobacco

Earnings of the American Tobacco Co., according to its 1924 report, were the largest in its history.

Total income last year amounted to $20,844,993, as against $17,942,544 in 1923. In both years, $3,161,982 was paid out in dividends on preferred stock, while common dividends last year were $12,202,675, against $11,470,695 the year before. At the end of 1924, $5,420,213 was left for surplus, compared with $3,136,013 in 1923, thus bringing up the total profit and loss surplus from $22,845,868 to $28,266,081.

The report stated that the company's volume of sales in 1924 set a new high record, in which case they must have been in excess of the 1923 gross sales of $138,473,340. Owing to "severe competition," however, the company omitted the gross figures for last year.