the icing, and the marshmallow, and prepare it for use in con- 
nection with the baked portion of the finished cake. 
Every piece of machinery is thoroughly protected to make 
it practically impossible for employees to become injured. 
Smoking and recreation rooms are maintained. Lockers are 
provided in well ventilated dressing rooms, and there are 
shower baths and lavatory conveniences. 
F. F. Barkow is manager of the Pittsburgh factories of 
the National Biscuit Company, and James McVeigh is man- 
ager of the bread department. 
The National Biscuit Company was incorporated under 
the laws of New Jersey in 1898. It has authorized common 
stock to the amount of $60,000,000 at $25 par, of which 
$51,163,000 is outstanding. Its preferred stock is 79, cumu- 
lative, of which $25,000,000 is authorized and $24,804,500 is 
outstanding. Common stock was $100 par for many years, 
on which 19 quarterly dividend was paid, later increased to 
134%. In November, 1911, an extra dividend of 2%, was de- 
slared and a stock dividend of 75%. The stock was changed 
to $25 par, with quarterly dividends of 75 cents a share, and 
an extra dividend of $1 a share on November 15, 1924. Net 
profits of the company for the year 1924 were $12,881,530. 
After the preferred dividends amounting to $1,768,315 were 
deducted, the balance left for the common stock was $11,145,- 
215, equivalent to 21.76%. The dividends paid on the com- 
mon totaled $8,186,080, or 169, and the surplus for the year 
was $2,959,135, which, added to the previous surplus, made 
a profit and loss surplus of $14.451,697. 
WARD BAKING CORPORATION 
Robert Boyd Ward; of Pittsburgh, son of Robert B. Ward 
who opened a bakery in Broome Street, New York, in 1849, 
foresaw the change of sentiment toward baking in the minds 
of housewives about 1878, saw the possibilities of multiple 
production and opened a bakery in Pittsburgh under the name 
of R. B. Ward & Co., for the development of the distribution 
of bread to the people in the manner which has been carried 
on since that time. He was “father of all the bakers” now