Contrary to the general idea insisted upon by retail tobacco dealers, the American Tobacco Co. is not "by far the most potent of U. S. Tobacco manufacturers." It certainly is potent. For the year 1925 its net income was $22,238,596, net working capital $87,531,654, cash $19,194,515, inventory $66,897,803. Liggett & Myers is also potent. The same year its net income was $15,289,652, net working capital $98,545,146, cash $18,080,236, inventory $75,088,039.
But the most potent is the R. J. Reynolds Tobacco Co. Recently its Chairman William N. Reynolds and President Bowman Gray looked over last...
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