AMERICAN TOBACCO COMPANY, THE, one of the world's largest manufacturers of tobacco, cigarettes, cigars and other tobacco products. So far as its name is concerned it goes back to 1890, and so far as its corporate organization is concerned goes back to Oct. 1904 when, under the laws of New Jersey, the old American Tobacco Company, the Consolidated Tobacco Com pany and the Continental Tobacco were merged into one company. The general offices of the company are in New York city ; its manufacturing is done in Richmond, Va., Reidsville, N.C., Durham, N.C., Nashville, Tenn., Philadelphia, Pa., Charles ton, S.C., Louisville, Ky., and Trenton, N.J. It has warehouses for the gathering and storage of leaf tobacco in Virginia, North Carolina, South Carolina, Kentucky, West Virginia, Tennessee and in a number of foreign countries.
The growth of the cigarette business in America, as compared with other tobacco products, has been very marked, and it is estimated that The American Tobacco Company has approx imately one-third of the cigarette business. It is difficult to form an estimate as to the other branches of the business, but in variety of output The American Tobacco Company exceeds any of its competitors.
The outstanding capitalization consists of $52,699,700 of pre ferred stock, of the par value of $1oo a share; $40,242,400 of common stock of the par value of $25 a share, which has voting rights with the preferred stock; and of common stock B also of the par value of $25.00 a share which receives the same rate of dividend and has the same rights in liquidation as the common stock, but has no voting power. The total surplus at the end of 1934 was $105,251,116.73, including paid in.