More Earnings

Alexander Legge, president of the International Harvester Co. of America, (farm implements, wagons, tractors, trucks) announced a net profit for 1927 of $23,359,215 (1926 profits amounted to $22,658,891); prophesied that "the company's future in the present 'power farming' era seems secure."

Albert Russel Erskine, president of the Studebaker Corporation, announced earnings of $11,937,861 (a decrease of 8.5% from 1926); sales of 116,740 cars (5,425 more than in 1926).

Andrew G. Pierce, president of the American Woolen Co., contrasted 1927 earnings of $2,598,077 with 1926 losses of $2,103,153; commented, "The company's financial condition continues excellent. All the operating mills are in excellent condition."

Charles Bronson Seger, chairman of the U. S. Rubber Co., reported income in 1927 of $10,232,052 (income in 1926 was $11,473,158); explained that the selling price of rubber had declined 13 1/2%.

W. G. Langford, president of the Richmond Radiator Co., announced profits of $438,297 for 1927 (profits for 1926 were $612,962); explained, "Only once before in the past 17 years have the selling prices of boilers been lower."

William Henry Nichols, chairman of the Allied Chemical & Dye Corp., announced earnings of $24,586,872 for 1927 (previous year: $24,072,820). Like every other year except 1924 in the history of the A. C. & D. C., 1927 set a record.

Frederic Winthrop Allen, chairman of the Vanadium Corporation of America (vanadium & alloy for use in the manufacture of steel tools and cutlery) reported a net income of $1,849,240 (previous year: $1,980,031); revealed that the corporation "has already developed over 100 chemical compounds and stands prepared to furnish these compounds to the trade."

Frank Phillips, president of the Phillips Petroleum Co., reported net profits of $4,937,931 (previous year: $21,407,709); pointed to general overproduction of crude oil and gasoline throughout the industry; told that Phillips Nu-Aviation gasoline has been contracted for in Government air mail service.

W. G. Warden, chairman of the Pittsburgh Coal Co., announced losses for 1927 of $1,880,596 (1926 losses were $2,114,676); told stockholders that the mines had operated 97% full time capacity during 1927 (82% in 1926).

Conrad Roy Keys, president of the Ctirtiss Aeroplane & Motor Co., Inc., reported earnings of $794,148 (previous year: $413,317); explained that the increase was "due to larger volume of business and more especially to continuity of operations resulting in better utilization of manufacturing facilities."