Selby Shoe Company Has Surplus Earnings

Article taken from The Newark Advocate, April 14, 1934

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Portsmouth, Aprill 14.-- A distribution of $160,000 surplus earnings for the fiscal year ending March 31 was announced yesterday by Roger A. Selby, president of the Selby Shoe company. Selby said that $100,000 of the amount will go to workers in the Portsmouth and Ironton plants of the company and $60,000 will go to stockholders as extra dividends and will be payable May 1. This is in addition to the regular quarterly dividend of 40 cents a share. The workers share will be divided pro rata in proportion to each employee's earnings during the last six months. About $35,000 will go to the Ironton plant and the remaining $65,000 to Portsmouth employees.