Pride of Boston

The last few years have been lean ones for many of Boston's leading interests and industries. The Massachusetts cotton-spinning trade is glum, mills are closing down. The leather business has been dull for some time, shoemaking has begun to re-establish itself further west. The "coppers," Boston's favorite speculations, have also paid lean dividends, or none at all.

Not so, however, with United Fruit-- a Boston enterprise with Boston capital, Boston management. This company last year had a total income of $27,218,020 against $22,561,549 the year before. After all charges and estimated Federal taxes, the net for 1923 was $23,097,330, or $23.09 on each share of the $100,000,000 of common stock outstanding. In 1922, net income was $18,851,318, or $18.85 per common share. Last year the Company paid out $10,000,000 in dividends, and set aside a like sum for dividends in 1924, carrying only $3,097,330 over into surplus, which new amounts to $48,067,353.

The balance sheet of Dec. 31, 1923, shows as assets, $9,800,968 in government securities, $5,068,756 in other investments, $21,775,787 cash, $157,182 notes receivable, $3,820,603 accounts receivable. Chief current liabilities were $1,073,866 drafts payable, $3,638,473 accounts payable, $14,000,000 dividends payable. $18,149,764 has been appropriated for improvements in 1924.