• U.S.

The Press: Philadelphia Profits

1 minute read
TIME

Last week Philadelphia’s Curtis Publishing Co. totted up circulation and revenue for the first six months of 1936. When the audit was completed, President Walter Dean Fuller announced that, between them, The Saturday Evening Post, Country Gentleman and Ladies’ Home Journal had gained some 418,000 readers over the first half of last year. Circulation: Sateve-post: 2,972,026; Country Gentleman: 1,534,812; Ladies’ Home Journal: 2,786,219. Net profits of the three magazines for the same period were up from $3,773,297 to $4,107,871. Curtis no-par common stock paid 60¢ a share, as against last year’s 42¢.

Such good news for Curtis shareholders was slightly soured by Mr. Fuller’s calculation that each share of the $7 preferred stock had paid 23% of its earnings in taxes, leaving a dividend of only $4.75 for the investor. Recapitulating, Mr. Fuller also gave it as his gloomy opinion that “Federal, State and local taxes will increase this percentage in the future.”

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