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NEW YORK TIMES, Reynolds Sets Dividend J WINSTON-SALEM, N. C. - R. J. Reynolds Tobacco Co. has declare& a regular quarterly dividend of 90 cents per 3.6 per cent preferred share, pay- able October 1 to holders of record as of Septemeber 10. U. S. Tobacco Raisel On Common Shares United States Tobacco Co, has in~ creased its regular quarterly dividend from 221/2 to 25 cents per common share and declared a regular dividend' of 433/4 cents per share on the prefer- red stock. The common stock of the company was split 2-for-1 on April 3 of this year. First payment to st'ockholders under the new quarterly rate will be made on September 16 to stockholders of record on September 3. Under this new dividend rate; payments per year ad- vance from 90 cents to $1 on each common share. Louis A. Bant'le, U. S. Tobaccopres- ident, said earnings by the company have increased every year since 1961, and that with the action just an- nounced, regular dividends have been ~J raised four times during this period and several! extras declared. "Our successful acquisition and di- versification program is proving an important factor in our sustained gains," Mr. Bantle said. "Growth is continuing along many lines through- out the parent company, its divisions and subsidiaries, as record sales and earnings for the first half of 1968, indicate." ' Net earnings for the first two quar- t'ers of 1968 totaled $2,722,000,, or 72 cents per common share, compared \ with $2;456,000, or 66 centsper com- mon share for the corresponding per- iod in 1967, after provision for the 1969 tax increases. Per share earnings have been adjusted to reflect the 2- fcir•1 stock aplit. Sale:s during the first half of this year totaled $31,620;000, compared with $30,168,000 a year earlier. /obZ u 2 Soq q August 28, 1968' ~d~G¢d~ L8M Declares Dividend V Liggett & Myers Inc. has declared a regular quarterly dividend of $1.75 per 7 per cent preferred share, payable October 10 to holders of record as of September 3. UNITED STATES TOBACCO JOURNAL Au ust 2g, 1968 mer r d s even ated, a with roeess- profiti share, in the Fuller auton- Bid United yester- to ac- com- g Cor- . Cole- castro, .t, re- U.S. CONCERN WINS GALLAHER CONTROI American Tobat;co's Offer Succeeds in Britain LONDON, Aug,"27(LJPI)- The American Tobacco Com- pany has secured control of Gallaher, Ltd~, and one of American's biggest competi- tors, Philip Morris, Inc:, has made progress in its bid for control of another British tobacco company, ..Godfrey Phillips, Ltd. I The British Board of Trade said today it would not refer the proposed purchase of God-; frey Phillips to the Monopolies Commission, thus removing possible obstacle to Philip Morris's goal. a ten rehold- emain- ~nding ;ompa- de for wealth $1 .05 stock, , mt to Cofi- ;17.25.1 Mr. .o $36 stock 0 pur- i share v yes-{ 4 that nts he liqui- n2 Philip Morris made a bid on Aug. 19 to purchase more than 99 per cent of Godfrey Phillips for approximately $27.5-mil- lion. In accordance with the terms of its offer to purchase 27,- 325,000 Gallaher shares, Amer- ican Tobacco said it would purchase about 63 per cent of the shares forwarded by each stockholder. American had sought'enough shares to give it a 50 per cent interest. units. (13) Apart ats, an inging t phitheate; no produc attention tional I than the home. At Mia dates use of these nications 4 quarters; Chicago, ' Daley has . his city Iwhat mig7 heaply t the urbat The int cult to de makes. N when Hui nounced emerging have they ave no N new factor complete 'i ances d sh to er ~f to I* F ~~1