Document 06KBV5zOxjp79LN3Jdx1oZqbx

fT rTir--(500.000 share*) at 57 Company may not pay cash dividends or Liabilities: IJlS-j, to company 56 per share) on May acquire capital stock unless thereafter consol* Accounts pay., etc. 5457,985 5468-557 Ejis by Lehman Brother*. New York ana ldated working capital is at least S5.700.000 Fed. income tax_ E--------- I.......... and earned surplus (excluding capital gains CFS AGENTS -- Chase Manhattan and losses) is at least 55,413284 plus fixed Total current__ 5487.985 *468.557 New York; Republic National Bank, principal payments on long term debt after Com. stock (52)___ 81S.S00 818 800 Nov. 30. 1957. At Dec. 31, 1959. 56.208.000 re Capital surplus__ 806.200 806.200 KlTRARS--Empire Trust Co., New York: tained earnings were so restricted. Earned surplus__ 7,160.071 6.610.109 tittle National Bank. Dallas. (2) Outstanding, Dec. 31, 1959. $608,011. In RANGE-- 1959 1958 1957 1956 1955 terest 3J,i% per annum. Held by Equitable Total ............ .. $9,273,056 $8,703,666 ___ ____ 6 5)9 S) 7 V. 7V Life Assurance Society. Net current assets. 55.649.809 *4.998.436 ............... 3 4)9 3% 4% 4)9 Due in fixed annual Installments of 5200.000 Net tang, com sh . $21 46 $20.12 bag Trust: 2.630.031.932 shares held in through 1961. Beginning in 1950, additional an jiLower cost (flfo) or mkt rAfter deduct. trust dated Feb. 5, 1953 and expiring nual installments are due of the lesser of 550,- U. S Govt, tecur : 1959. *1.049.839 1958. 5752.359 1958. Voting Trustee: John A. McGuire, 000 or 20% of amount by which consolidated Capital Stack: Tinnamiao Products* lac. dent ROOFINQ CO., INC. ary: Incorporated July 30, 1924 in Del- net income for preceding year exceeds 5300.000. Balance of loans Is due in 1962. More re sabtroicvteive clause appears under 5)9% loan common; par 53: AUTHORIZED--750.000 shares; 409.400 shares: par 52. DIVIDENDS--Payment* since outstanding. 1946 follow .: business started in 1915. ____ Capital Stock: 5. Til* Roofing CA, li (based on 409.400 shares): _iliwss: Company ia engaged In direct aala i application of roofing and exterior slde- men; -p--a--r--9--1-: Authorized, 500,000 shares; outstanding. 468,- 1946 1949 *0.066 1947 *0.033 1945 50.132 0.165 [1950- 0.965 1951-62 0.70 ) materials, and manufactures ia its own ; asphaltic and asbestos cement products for such purposes. npany operates through 77 branches lo- i New York. New Jersey. Maine. MassaConnecticut. New Hampshire. Penn, Maryland. Vermont. Rhode Island, _ e and Virginia. party: Plan: is located at Stratford, u on a plot of 1951 acrei. Factory and bouse building contains a floor area of intimately 130.000 sa. ft. Office building , i floor area of approximately 22.225 sq. ft. ffobtidlaries: Stratford Credit Corp. iUintic Asphalt Sc Asbestos, Inc., wholly- 501 shares; reserved for options. 18.625 shares: par 51 (changed from no par Apr. 14, 1933. share for share. ___ DIVIDEND RESTRICTIONS--See under term loan above. VOTING RIGHTS--Has sole voting power. PREEMPTIVE RIGHTS--Non*. DIVIDENDS-- 1927-28 *1.75 1929__ 51.10 19301.. 50.95 1931__ 1.00 1932__ 0.65 1933-35 nil E1936- 0.57)4 1937-38 1.25 1939__ 125 $1940. 1.05 1941__ 0.50 1942__ 0.60 1943__ 0.40 1946__ 1.10 1944__ 0.50 1947-48 1.00 1945__ 0.45 1949__ 0.65 1950___ 0.50 1951___ 0.70 1952__ 0.45 1953 0.90 1954___ 1.10 1955-56 1.75 1957 2.10 1958___ 1.80 1959__ 3.00 (1960. 0.50 fflAISO paid 40% stock dividend. ETo Mar. 13. VOTING RIGHTS--Ha* one vote per share, with right to cumulative voting for director*. PREEMPTIVE RIGHTS -- Has preemptive right* (except as to 80.000 unissued shares, in cluding offering of 30.000 shares). TRANSFER AGENT. REGISTRAR AND DIVIDEND DISBURSING AGENT--Central National Bank. Cleveland, O. OFFERED--(30.000 shares) at 510 par share (proceeds to company 59) on June IS. I960 ` subsidiary formed in May. 1940. sells 1953__ 0.40 1#54__. 020 1955__ 0.90 by McDonald Sc Co., Cleveland. Proceed* pofactured products to others for resale. -- rs: R. J. Tobin, Chmn.; G. A. Tobin, D Giles, E. C Benton. E. S. Peterson, Donnellon, Vice-Pres.; E G. Hall, Sec.; Wieland, Vice-Pres. and Treas.; E. A. ;ck. Asst Treas. and Asst. See. greeters: G A. Tobin. R J. Tobin. J. D. H O. Weise. E. C Benton, Stratford, . H. R Anderson. New York, liters: Touche, Ross. Bailey Sc Smart, inual Meeting: Third Tuesdav in AprlL ef Stockholders: Dec. 31. 1959. 2.390. of Employees: Dec. 31, 1959, 1.500. ee: Stratford. Conn. Misdated income Account, years ended , U: 1959 1958 sales, etc. __ $14,990,412 514.311.052 ; of sales, etc. . 7.270.134 6.734.367 lag, etc., exp, . 5.881.333 5.515.100 earnings___ _ 1.838.945 2.061.585 sr income, net. 111278 24.168 1 income____ 1,950.223 2,085.753 1956-57 120 1958__ 120 1959__ 1.40 231960. 0.35 EStocfc dividend*: 1936. 200%; 1940. 50%. ETo Mar. 17. Dividends payable quarterly Mar. 15, etc., to tock of record about Feb. 25. etc. PRICERANGE-- 1959 1958 1957 1956 1955 High.............. 24 19)9- 158. 16V* 13 Vs Low.......... 173; 10)9 10)9 12 9)9 Transfer Agent: First National City Trust Co. New York. Registrar: Chase Manhattan Bank, New York. Listed: On American Stock Exchange. Stock Options held by key executives at Dec. 31. 1959. on 12.550 shares at prices from $13,125 to 517.75 per share expire in 1961 and 1963. TINNERMAN PRODUCTS, INC. History: Incorporated in Ohio Nov. 3. 1939, succeeding Tinnerman Stove Sc Range Co.; for additional working capital. TIP TOP PRODUCTS CO. History: Incorporated in Nebraska Feb. 1, 1946. Business: Manufactures hair accessories, in cluding curlers; wave and pin curl clips; chignons; combs; hair rollers and barrettes; also plastic toys, liquid solder and adhesives. Property: Company owns two plants in Omaha. Neb. with total floor area of 124.030 sq. ft.; a 40,655 sq. ft. plant in Omaha is leased. Directors: C. W. Renstrom, Pres; C D. Gresham, Exec. Vice-Pres.; W. R Avery, Sec. and Treas.; E. G. Garvey; W. D Vogei. Don ald White, Ernest Hoffman, James Hepa, Clay ton Johnson. Auditors: Peat. Marwick. Mitchell 6c Co. He. ef Employees: 450 to 700 Office: 1515 Cuming St.. Omaha. Neb. EC report): 123.042 226.290 9*1 inc. tax .. 900.000 945.000 profit _____ 927.181 914.463 4cl earn., l-l ,, 7,017.208 6.704.229 toon djvs. __ 654.597 601.484 rtn- earn . 12-31 517289.792 7,017208 Iter deprec.. 1959. S264.557: 1958, S247.533. cl. 16.208.000 restricted. I and Earnings, y ears to Dee. 31 (in 5): Net N<et No. of Earn. Sales Profit Shares on Com. 14.990.412 927.181 468.501 1.98 14,311.052 914.463 463.976 - 1.97 13.450.810 831.218 462.126 . 1.80 13.757.337 1,155.142 462.126 ' -2.50 12.167,727 928.900 462.126 2.01 11535.484 669.729 462.126 0)1.45 11.355,681 442.804 462.126 056 originally established In 1870. Business: Company manufactures "Speed Nuts" clips, clamps, hinge*, and other fastening devices. Property: Company owns Brooklyn plant, adjacent to Cleveland, on 32). acre tract with 239.000 sq. ft. floor space. Sales offices in 111., Ohio, Mich.. Cal., N. J.. Pa., N. Y,, Wis. and Mo. Officers: A. H. Tinnerman, Chmn.: R. C. Overstreet, Pres.; J. E. Potter. Vice-Pres and Treas.; C. A. Jones, Sec.; M. M. Kocasb. Asst. Sec. Directors: A. T. Buttriss, J. E. Potter. E. T. Egan. R. C. Overstreet. L. R. Kundtz. A. H. Tinnerman, G. A. Tinnerman, L N. Tinner man. Auditors: Ernst 6c Ernst 11 mos. to Year to Nov. 30/59 Net sales_________ 57.047.863 Dec. 31/58 *5.637.437 Cost of sales _____ _ Selling, etc . exp.. Operating profit ,, Gain, asset dispoa. Total income____ 4,435.176 1,471,606 1,141.081 7.892 L148.973 3.688.462 1.324.520 624.454 dr 11,493 612.962 Interest, etc._____ 49255 15.179 Income taxes Invest, wr.-down-- Net income Retain, earn., 1-1. 568.000 3.382 528.336 1.296.305 310.000 70.724 217.059 1.079245 Dividends _______ 167.000 Retamed earnings. 1,657.640 1296.305 Earn., cl. A share. On 100.200 cl A ah*. 54.39 5121 Fiscal Year Changed, to end Nov. 30. 11.074,631 243.015 462.126 0.53 10.364,901 504.916 462.126 1.09 , 10,18--0-.-1--7-8- 6--1--5-.-0-8--6- 462,128 1.33 -hiding profit from sale of Glasftoas Annual Meeting: Third Wednesday In Apr. Mo. of Stockholders: Dec. 31, 1959, 1.064. Condensed Balance Sheet, (from SEC re port): Assets: Nov. 30.'59 Feb. 28/59 Na. of Employees: Dec. 31. 1959. 850. Cash 5277 202 5141.848 earned common share was 53.80. Office: P. O. Box 6688. Cleveland 1, O. Receivables, net .. 860.188 1.030.109 ftdated Balance Sheet, as of Dec. 31: 1959 1958 Income Account, years ended Dec. 31: 1959 1958 ^Inventories____ Oth. curr. assets .. 1,435.679 61.788 1204.064 160.435 *bles,'net`ir "tones aems_ I current . a equip. _ htion ___ _ Property___ cash val. "ties: ^yabie----LJJhy., etc. ,, roployees__ 51.731.534 5.209.271 1,277.143 291.027 58.508.975 3.064.762 1.343.029 1,721.733 144.075 62.159 143.032 510,579.974 *419.627 292.443 51.155.858 9.089.150 1.104.434 308.169 511.657.611 2.974.513 1.196.306 1.778.207 141.070 70.884 137.023 *13.784.795 $2,300,000 344.799 339.195 CDNet earnings__ *3,536.767 52.014.718 Other income_____ Total income_____ 151.911 3.688.678 126.145 2.140.8E3 Fed. income tax .. 1.910.516 1.107.175 Net profit................ 1,778.162 1,033.688 Earn, surplus, 1-1.. 6.610.109 6.313.341 Common divs.___ 1.228.200 736.920 Earn, surp., 12-31-- 7,160.071 6.610.109 SAfter deprec. 8c amort.: 1959, 5266,679; 1958, 5253.927. Earnings, years to Dec, 31 (in 5): Net Net No. Of Earn. Earnings Profit Shares on Com. 1959__ 3.536.767 L778.162 409.400 4.34 1958___ 2.014,718 1.033,688 409.400 2.53 1957___ 2.635.330 1.363.118 409.400 3.33 1956... 2,449.074 1241.076 409,400 3.03 Total current . Net property_____ Life ins. cash val.. Other assets_____ Bond disc. Sc exp.. Total _________ Liabilities: Notes, etc., pay.__ Accounts payable . Accruals, etc.__ -- Income taxes_____ Total current . Long-term debt .. Common stk. (5100) Retained earnings. 52.634.857 1208.348 28.186 203.717 104.938 54.180.043 *71.421 229.052 259.068 434.703 5994,244 891.959 T.657,640 52.536.456 1220.400 19.675 63.841 53.840.372 *428.691 725.399 153.402 427.398 51.732.890 291,379 462.500 1253.602 rome tax ,, >*es----- 535.291 162.347 317.000 690.145 Balance Sheet, as of Dec. 31: 155.865 Assets: 1959 317.000 Cash______________ *2.386.327 U. S. Govt, secur- 968.624 Cl. A com. stk (52) 1958 52,051.601 Cl. B com. stk. (52) Cl. A com. warr__ 659,183 Paid-in surplus ... 200.400 400.000 33.600 2200 J current _ yable___ stock (51) $1,726,708 623.511 ' 468.501 54.147.004 Receivables, net_ 1.740,011 E Inventories 463.976 820.455 1.962.388 810.945 1.945.264 Total Net current assets. 54.180.043 51.640.613 *3.840.372 5803 566 Vfhrpius ... ro earnings. 471.462 7.289.792 510.579.974 416.596 Total current__ 7.017.208 Bldgs., equip., etc.. Deprec. & amort-- 513.784.795 Net bldgs., etc-- *6.137.794 5.538.464 2.668.797 2,869.667 55.466.993 5.404.600 2.443.960 2,960.640 Long Term Debt: L Tip Top Preduett Co. first 6s. series A, due 1969: AUTHORIZED--All series. $5,000,000; out standing. series A. $850,000 56.782.267 57.510 607 Land 82.368 82.3KR 517.57 517.02 Patents, etc. Ww ?r aver, cost or mkt V?*."*: (l> O",,"--