HOW WE EARNED IT
Other Departments 6.8
Store Rentals 1.5
Other Income 1.8
HOW WE SPENT IT
35.2 Payroll and Related Expenses
19.7 Cost of Goods Sold
21.4 Other Expenses
3.6 Repairs and Maintenance (excl. Payroll)
3.3 Real Estate and Personal Property Taxes
1.4 Interest on Borrowed Money
5.8 Federal Income Tax
— 2.9 Reinvested in Business
equivalent to $3.11 per share of common
stock, against $3.16 per share the year before. Taxes for the year were considerably
larger than dividend payments to stockholders and earnings retained in the business combined.
IVI I F N I) S Regular quarterly dividends of 30 cents per
share were paid on the common stock on
March 1, June 1, September 1, and December 1, amounting to $1.20 for the year.
Quarterly payments of 50 cents per share,
or $2.00 for the year, were made on the
convertible preference stock.
The total dividends distributed on both
the common and preferred stocks amounted
to $1,991,219.60, representing 44 per cent
of net earnings. The balance of the net
profit, amounting to $2,530,195.71, was
reinvested in the business.
1952 revenues from all operated departments, exclusive of commercial rentals,
totaled $85,820,858, compared with
$78,857,334 in 1951.
Despite a slight decline in average occupancy, in common with the industry as a
whole, room sales in 1952 increased to
$34,331,105 as against $31,350,484 in 1951.
Sales of food and beverages in 1952 totaled $40,950,719. In 1951, food and beverage sales amounted to $38,215,048.
Revenues of other operated departments
in 1952 were $8,983,416, compared with
$7,869,696 in 1951. Other income amounted
to $1,555,618, against $1,422,105. Store
rentals totaled $1,334,514, compared with