AERONAUTICS: Studebaker's Profits

The report of the Studebaker Co. for the quarter ending June 30, 1923, shows net sales of $49,370,091 as against $45,606,044 for the same period last year. After the payment of expenses and taxes, net profits of $7,200,202 were left, which compares with $7,086,552 in 1922, and after allowing for dividends on the preferred stock, amounts to 9.40% on the $75,000,000 common stock issue. In the last quarter, the com- pany manufactured 43,346 cars, but sold 43,680.

The balance sheet of the company, although containing among its assets the item of $19,807,276 as " trade...

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