Business & Finance: Deals & Developments

Hill's High, Proud of its 1931 showing was American Tobacco last week. Despite Depression its earnings reached a new high: $46,189,000 against $43,294,000 in 1930. "You will, I am sure," said President George Washington Hill to shareholders, "be pleased to know that the year 1931 has witnessed a still further increase in our percentage of the total cigaret business of the United States." In Federal taxes alone last year American Tobacco paid $3.50 for every $1 it earned. Wages were maintained and the total number of employes increased.

Not so pleasant to Mr. Hill...

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