| Show COLUMBIA STEEL corporations RECORD analyzed ANALYZED BY BONDING COMPANY A big eastern bond and stock concern dillon read company has recently issued a report on columbia steel which makes an excellent showing of what new steel concern has accomplished since beginning business in this state this report shows that the company despite a heavy capitalization and bon bonded ded indebtedness is earning 2 enough money to pay its bond interest and its preferred dividends and in addition put into surplus about or equal to about 18 cents a share earned after all charges on oil the common stock net sales for the six months ended june 30 1925 totaled or well up toward the total net sales OF 0 during the entire year of 1924 operating operatic t expenses amounted to for the first half of the y year ear as compared with in 1924 net operating income for the first half of 1925 totaled against for the whole of 1924 after interest and taxes a balance or net income of remained for the first half of 1925 which is at the ratio of for the year this latter figure is nearly three times the balance for 1924 and considerably larger than the 1923 balance of preferred stock divide dividend nd requirements are which could be paid in cash though this does not mean they will be and still would be remaining in order to build up a surplus the company in the past its preferred stockholders in common two years has paid stock on the basis of one share per year the common has a value of about 6 or 7 a share and cang can therefore be used to the preferred dividend of 7 percent per cent in lieu of cash pay the company in the past two years has built up its surplus from froin practically nothing to nearly and mark the assets the this year it should pass last year gained over the previous year and now total nearly Ex expansion expanse pansi on of the comp company iny has been provided for by the purchase of the milner deer lerch properties containing millions of tons of high grade iron ore and these properties will be opened up to development early next spring |
