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Show MONTGOMERY WARD REPORTS BIG LOSS i Drop Shown in Spite of In-created In-created Sales CHICAGO. Feb. 4. The annual statement of Montgomery "Ward and company last night, said that the company com-pany operated during 1920 at a lose of $7,855,278, including depreciation, although al-though its sales were larger than ever. During the first seven months sales increased approximately 34- per rent, tho statement aaid, but price reductions reduc-tions in the last four months caused heavy losses on the sales, which decreased de-creased so much that tne years sales were only 3 per cent larger than in ISIS. The inventory depreciation and loss in operating were all charged to surplus sur-plus as of I9D.x Nt sates for 1720 amounted to 1101,-745.270 1101,-745.270 and total assets were $62.615,-630. $62.615,-630. The 1919 surplus was given at $12,-342.932 $12,-342.932 with the profit and loss surplus at the end of 1920. as $2,429,772. |