Show j I FINANCIAL MINING AND OIL NEWS NEW S Edited by Ira C. C Tichenor Review of the Week In Finance and Trade By Ira C. C Tichenor MERELY f fur r the purpose of offering further evidence to prove the claims made made on n several recent occasions in this column that the process of readjustment of business affairs in this country is proceeding in a normal manner and also to show that the contentions that capital and labor are arc undergoing the process of getting together some excerpts will be given Irons from the annual report just made public of the Underwood Typewriter company This report which is signed by President John John JohnT T. T 1 Underwood Underwood Under Under- wood incidentally shows that the net income during last year inc increased ased nearly a fourth over that of 1917 As to the readjustment readjustment readjust readjust- ment problem m the report says Reference was made in th the last annual report to the unusual difficulties occasioned by the war war under which this company in common with practically an all manufacturing enterprises was labor labor- ing These conditions continued throughout the year 1918 and presented in some respects features of even greater sensitiveness With the signing signing of the armistice however and and the prospects of an early returning peace the situation has already very greatly im- im proved With the removal of restrictions surrounding the exp expert t trade by the war trade trade board for foe the first time in a number of years the company has been enabled to make its shipments in response to urgent demands from every part of the world wo ld And now that the war is happily over demands from foreign countries added to the continuing pressure of large requirements throughout the United States strongly indicate the prospect of a sound and profitable business in the year to come Thus is added another big concern to those previously mentioned mentioned men men- as having successfully readjusted their affairs from a war to toa a peace basis and with every prospect of enjoying an era of prosperity under normal business conditions Y i THAT portion of the report and which offers further proof of 1 the statements that employers and have reached the together get stage of industrialism in the United States is as follows The The profit sharing plan plait inaugurated by the company compan several several sev- sev eral years ago has again been successfully conducted and in accordance accordance ac- ac with its terms the distribution for 19 1918 t 8 among the em- em of the company of the two years years' standing and over will amount to to It will be remembered that 1 I have haye the the option of investing this fund in capital stock of the corn corn- com I pany pally and it will be appreciated as and significant that oKer er 94 per cent of shares thus distributed distribute have been retained and andare andare are still owned by our Over one half of the company's are now stockholders The directors again take pleaSUre in acknowledging the splendid cooperation extended to the company's com com- pany's management during the year by its which has aided very materially in bringing about the excellent results herein reported In n addition to the favorable con conditions described the report also tends to confirm the statement that the really big concerns of the country had been bearing their share of war expenses To meet the payment of the federal income and excess profits taxes the Underwood company has set aside from its net earnings the sum of while in Liberty bonds it has invested in n to which the company carries for subscriptions made by them to the last two loans amounting to a total of Taken as a whole this report together with facts published concerning numerous other big concerns gives hopes that domestic as well as international peace is to prevail and that the predicted era of prosperity will be experienced THE HE most important statement from an industrial point of T vier vie that has come out f from om Washington for many months is that January exports set a new high record at This fact is doubly important when it is coupled with tile statement that only twice before in the history of the States has the monthly volume of the export trade exceeded It proves beyond the question of f a doubt that contrary to the predictions confidently made in quarters that Americas America's foreign foreign for for- eign trade w would uld materially decrease following the signing of the armistice that upon the United States must largely devolve the problem of feeding Europe and furnishing the entire European continent with the thc means of reconstructing industrial operations At the present time the United States is exporting foodstuffs in enormous quantities and this process must continue for far some time When order more nearly comes out of chaos in the various countries directly affected by the world war this country is certain to be called upon to supply various kinds of machinery ill ii addition to raw materials and m an infinite variety of finished goods In view of the present and anticipated conditions relating to the needs eeds of Europe and the known fact that in many lines of industries Americas America's demands ate ak many months months behind behind in fulfillment and that building operations are about two years the normal it becomes a certainty that the United States is destined to enjoy enjo an extended era of great prosperity |