Document 0qVEbMw46DYomKoGnyMQwgjEM
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GLIDD3.7 CChPA.TT - CLZV2LASB, A3D SUBSIDIARIES QTHZR THAU CALIFORNIA MI'HUG COMPANIES
For the fiscal year ended October 31, 1930.
mz SALZ5 (excluding inter-conpany and
subsidiary sales and transfers)
r *
" rieturns, allowances and freight adjustments
Discount allowed on sales Freight and express
538,651.257.20
$ 1,676,543.85 351,701.00 138,959.74
2,217,204.59 536,434,052.61
Inventory October 31,
1929
0 8,640,114.45
Purchases
22.795.874.79 531,435,989.24
MGS:
Inventory October 31,
1930
$ 7,694,341.51
Discount on purchases
87,930.35 7,782,271.86 523,653,717.38
Direct labor
1,531,132.78
Manufacturing expense (a3 shown by
exhibit)
3 3,613,849.49
Less: Labor, material and expense
capitalized or redistributed
377,381.99 3,235,967.50 28,420.317.66
m:rj?ACTJ313Q PROFIT
3 8,013,234.95
3XPE5S3
SELLING, 03 Hi: UAL AND ADMINISTRATIVE
As shown by exhibit
6,698,627.37
3 1,314,607.58
OTHER DEDUCTIONS
Provision for doubtful accounts, less
recoveries on accounts previously
charged off
3 336,359.43
Interest paid
297,721.11
Depreciation on steel druas
36,890.14
Loss sustained on disposal of
capital asseta-net
35.674.63
Bond discount and expense
19,501.93
Loss on leasehold-net
10.656.67
Donations
10,289.57
Life insurance expense
7,722.55
Provision for Canadian taxes
5,700.00
Depletion-ore land-Deaocrat nine
4,533.26
Depreciation on patents-Euston Lead Co . 2,941.20
Siecellaneous
____ 10.365.67
778,356.16
LBSS: OTHER
Interest earned ConnisBions earned
$ 48.751.64 18,510.52
Miscellaneous
41,431.92
108,694.08
OTEZR DEDUCTIONS-SET
669,662.08
PROVISION FOR D Z ?R E CIA 710U
PROFIT 3Z70R3 PR0VIDI3G FOR PR2CIATI0S
A 644,945 .50 633,579 .76
PROFIT
11,365.74
GLDO14711
LAUCE SH
- CLEVELAND, AID SUBSIDIARIES October 31, 1925.
LIABILITIES
flURREUT
Uotes Payable-For Money Borrowed:
From Banks Through Brokers
$ 600, 000.00
_____2_5__0, 000.00 $ 850,000.00
Botes Payable-5*or Purchase of Property
and for acquisition of Subsidiary Company
73,333.34
Accounts Payable
897.914.76
Customers* Credit Balances and Miscellaneous
Accounts
63,374.77
- .
Accrued Taxes, Bond Interest, Insurance,
Royalties, etc.
172.194.76 $2,056,817.63
RESERVE PGR ESTIMATES FEDERAL TAXES DEFERRED
268,000.00
Bote given in connection trith acquisition
of Subsidiary Company
- 180,000.00
3 OH) AID MORTGAGE IUDE3TSDBESS
FIRST MORTGAGE 6% GOLD BOlPS
The Glidden Company; Authorized Less; Retired
$3,000, 000.00
100, 000.00 $2,900,* 000,00
(Series of $100,000.00 due
September 1, 1927)
The Chemical & Pigment Company, Inc.
Collinsville Plant; Authorized and Issued
350.000.00
(First Series of $35,000.00 due
April 15, 1928}
Buston lead Company:
Authorized Less: Retired
160, 000.00 _____ 15, 000.00 ... 144,000.00
(Series of $16,000.00 due
August 1, 1927)
FIRST 6% MORTGAGE
The Glidden Company of California,
Oakland Plant, Due September 10, 1928
190.000.00 3,584,000.00
RISE RTF
For General Contingencies
687,818.41
CAPITAL STOCS-UIHORITY INTEREST
(The Glidden Stores Company)
12,605.00
CAPITAL STOCK (The Glidden Company)
PRIOR PREFERSBCE lj> CUMULATIVE
Authorized
75,000 shares $7,500,000.00
less; Unissued and
Retired
3,337 "
333,700.00 $7,166,300.00
CCE2I0B ( Fo Par Value )
Authorized
500.000 shares
Issued
400.000 "
Declared Value of $5.00 per share
2,000,000.00 9,166,300.00
SURPLUS Balance October 31, 1926
5,580,658.35
$21,536,199.39
GtOOl^7)-2
OTHER DEDUCT I GITS-OTHER INCOME THE GLIDDEN COMPANY - CLEVELAND, AND SUBSIDIARIES
For the fiscal year ended October 31, 1926.
OTHER DEDUCTIONS Interest on Rotes Payable Interest on Mortgage Bonds Doubtful Accounts Receivable charged off-Net
Provision for Doubtful Accounts Special Discount Allowed Bond Discount and Expense-Amortized Portion Bond Discount and Expense-Amortized Portion, Euston Lead Co. Bond Premium and Expense Depreciation on Steel Drums Insurance Premiums on lives of Companies' Officers Loss sustained on disposal of Permanent Assets-Net
Donations Linseed Oil Mill Property Expense Reducing to nominal value of $1.00, investment
in Tung Tree development project St. Loui3 Oil Mill Accounts charged off Depreciation on Patents-Euston Lead Co. Miscellaneous Accounts charged off-Net Claims against Common Carriers charged off Adjustment of Accounts Receivable Control-Net Miscellaneous
$ 123,272.55 196,901.36 119,130.33 1,341.16 4.733.15 14,155.63
1,559.97 34.00
43,310.72 36,153.06 15,357.04
7,796.46 5.602.15
4,999.00 4,276.13 2,941.19 1,666.58
33.36 5.40
966.36
TOTAL OTHER DEDUCTIONS
$ 584,241.15
LESS: OTHER INCOME Interest Earned Interest Earned on California Zinc Co.-Bonds Excess of recoveries on fire losses over book values of property destroyed Rentals Received Commissions Earned Recoveries on Miscellaneous Accounts and Claims against Common Carriers Scrap and Miscellaneous Sales Unclaimed Wages Absorbed Cash 0verage3-Net Adjustment of G-eneral Ledger Trial Balance,
A. Wilhelm Company Interest Earned on Domestic Bonds
30,283.13 19,500.00
9,251.65 2,794.19 2,483.92
2,034.24 1,087.22
304.39 198.42
100.00 34.50
TOTAL OTHER INCOME
68,071.66
OTHER DEDUCTIONS-NET AS SHOWN BY OPERATING STATEMENT
$ 516,169.49
GL DO 14 713
BALANCE s h e e t ClEYELAND, AUX> SUBSIDIARIES October 31, 1925.
LIABILITIES CAPITAL STOCK (The Glidden Company)
PRIOR PREFERENCE-7# CTMULATIYE Authorized 7,500,000.00
Shares Issued
7,192,000.00
Scrip Certificates
9,300.00 7,201,300.00
COMMON (No Par Yalue)
Authorized
500,000 shares
Issued
400,000 shares
Declared value-5.00 per share
2,000,000.00 9,201,300.00
CURRENT
Notes Payable-Eor Money Borrowed:
Prom Banks
950,000.00
Through Brokers
250,000.00 1,200,000.00
Accounts Payable
959,620.48
Customers' Credit Balances and
Miscellaneous Notes and Accounts
74,197.61
Accrued Taxes, Bond Interest,
Insurance, Royalties, etc.
164,707.95 2,398,526.02
DETERRED
Note given in connection with
acquisition of Subsidiary Company
240,000.00
RESERYE
Tor Federal Income Taxes and for
Contingencies, etc.
363,134.87
BONDED INDEBTEDNESS
The G-lidden Company:
First Mortgage 6% Serial Geld Bonds
Authorized and Issued
3,000,000.00
(First Series of 100,000.00 due
September 1, 1926)
Euston Lead Company:
First Mortgage 6% Serial Gold Bonds
Authorized and Issued
160,000.00 3,160,000.00
(Due 16,000.00 annually beginning
August 1, 1926)
.CAPITAL STOCK-MINORITY INTEREST
(The Glidden Stores Company)
14,620.00
SURPLUS
Balance October 31, 1925
5,429,394.08
(Note A) The provision made for Taxes is subject to any neces sary adjustment upon determination of the Companies' final liability therefor.
(Note B) This Balance Sheet is subject to the comments contained in our "Certificate'*, included in and made a part of this report.
20,806,974.97
GLD014714
OTHER DEDUCTIONS-OTHER INCOME i
THE GLIDDE2T COMPANY - CLEVELAND, AND SUBSIDIARIES
For the fiscal year ended October 31, 1925.
OTHER DEDUCTIONS
Interest on Rotes Payable Interest on Mortgage Bonds Doubtful Accounts Receivable charged
off-Ret
Provision for Doubtful Accounts Provision for Special Discounts Bond Discount and Expense-Amortized Portion Depreciation on Steel Drums Insurance Premiums on lives of
Companies' Officers Loss sustained on disposal of Permanent
Assets-Uet Donations Uriting off Booh Value of Dipping Machine Depreciation on Patents-Euston Lead Co. Loss sustained on sales of Ra\? Materials Plant Moving Expense Claims against Common Carriers charged off Miscellaneous Accounts charged off
3 150,743.96 204,010.75
110,214.58 1,299.85 6,904.47
31,050.16 42,752.12
26,309.05
17,202.69 6,947.05 3.874.18 2.941.18 1,103.49 825.60 211.35 572.96
LESS: OTHER IITCCHE
TOTAL OTHER DEDUCTIC2TS
$ 606,763.44
Interest Earned Scrap and Miscellaneous Sales Excess of recoveries on fire losses
over book values of property destroyed Rentals Received Commissions Earned Credit Balances absorbed Recoveries on Miscellaneous Accounts and
Claims Against Common Carriers Miscellaneous
$ 19T376.36 5,138.03
5,488.08 4,331.20 2,179.95 3,422.66
2,043.13 179.16
TOTAL OTHER INCOME OTHER DEDUCTIONS-RET AS
SHCim BY OPERATING STATEMENT
42,158.57 $ 564,604.87
GLD014715
BAIAITCS SHEET - CLEVELAHD, A1TD SUBSIDIARIES
October 31, 1924.
LIABILITIES
CAPITAL STOCK (The Glidden Company)
PRIOR PHEFERSUCS-1% CUMULATIVE
Authorized
$7,500,000.00
Shares Issued
$6,896,400.00
Interim Certificates and Scrip
208,720.00 $7,105,120.00
PREFERRED-7# CUMUIA-TIVE
Issued and Outstanding
70,500.00
COIIOIT f 170 PAR VAX,HE 1
Authorized
360,000 shares
Issued
322,955 shares
Declared Value
1,614,775.00 $ 8,790,395.00
CURH3ITT
Hotes Payable-For honey Borrov/ed
Prom Banks
$ 875,000.00
Through Brokers
775,000.00 $1,650,000.00
Accounts Payable
793,292.56
Customers' Credit Balances and Miscellaneous
110,617.50
Accrued Local Taxes, Bond Interest,
Insurance, Royalties, etc. DEFERRED
175,829,62 2,729,739.68
notes given in connection with acquisition
of Subsidiary Company and purchase of
property RESERVES
250,096.28
For Federal Income Taxes and fox
Contingencies, etc.
$ 223,538.72
For adjustment of dividends on Preferred
Stock not yet exchanged for Prior
Preference Stock BOLDED ILDEBTSDHESS
15,937.85
237,476.57
The Glidden Company-First Mortgage 8%
Sinking Fund Gold Bonds:
Authorized
$3,350,000.00
Less:
Bonds Retired $480,000.00
Held for Retire
ment
2,500.00 482,500.00 $2.867.500.00
Euston Lead Company-First Mortgage 6%
Sinking Fund 20 year Bonds:
Authorized and Issued c a p it a l s t o c k -h iu o r it y in t e r e s t
200,000.00 3,067,500.00
(The Glidden Stores Company) SURPLUS
28,770.00
Balance October 31, 1924
3,084,803.06
$18,188,780.59 I!
GLDO14716
THE GLIDDEN COMPANY October 31,
THE GLIDDEN COUPANY CLEVELAND
SURPLUS-DEFICIT October 31, 1923 as shown by Audit Report
$3,464,870.59
DSDUCTI OHS
Par Value of 1% Prior Preference Stock issued in payment
of accrued dividends on 1% Cumulative Preferred Stock
covering the period from January 1, 1922 to April 13
1924
6 924,264.00
Dividends paid on Prior Preference stock during the
current fiscal year
220,821.36
Provision for adjustment of dividends on Preferred
stock not exchanged at October 31, 1924 for Prior
Preference stock
13,937.85
Elimination of appreciation on property sold during
the fiscal year ended October 31, 1924
170,408.95
Writing off excess of original subscription price
over declared value of 5.00 per share on 2,151
shares of common no par value stock of The Glidden
Company due to cancelling during current year
notes for employees' stock subscriptions
53,775.00
Excess of purchase price over declared value of
$5.00 per share on 8 shares of common no par value
stock of The Glidden Stores Company acquired by
The Glidden Company during the fiscal year ended
October 31, 1924
35.00
Preferred Dividends paid by The Glidden Stores
Company (Funds advanced therefor by The Glidden
Company)
-o-
Provision for Contingencies, etc.
25,000.00
ADDITIONS
TOTAL DEDUCTIONS
w, 408,242.16
Net Profit-Loss from operations for the fiscal
year ended October 31, 1924
$1, 034,620.76
Increasing to par value of $100.00 per share 9,578 shares of 7^Preferred Stock of The Glidden
Company acquired by the Company for retirement at
prices below par
221,768.80
Dividends received on Preferred Stock Owned of
The Glidden Stores Company
32,865.00
Excess of. value recorded over declared value of
$5.00 per share on 2,151 shares of no par value
common stock of The Glidden Company issued in
exchange for a like number of shares of no par
value common stock of The Euston Lead Company
on the basis of $10.00 per share
10,755.00
Partxa.l payments and balances absorbed in connection
with cancellation of employees' subscriptions to no
par value common stock of The Glidden Company
3,269.89
Increasing to par value of$100.00 per Bhare, 40 shares
of 1% Preferred Stock of The Glidden Stores Company
acquired by The Glidden Company during the fiscal
year ended October 31, 1924
1,000.00
Refund received on prior years' Federal Taxes:
Glidden Company of St. Paul
537.73
Heath & Milligan Manufacturing Company-Chicago
252.82
TOTAL ADDITIONS T7 305,070.00
%
i: -vv?
GLD014718
A ^1 7
nr*.
n i *j j^
, AiiD ou-o. lATijO
GLIDDEIT COMPANY, LTD. TORONTO, CANADA
$ 32,808.89
TEE GLLDDEE STORES COLE?ARY CLEVELAND
$ 253,372.46
C 0 K B_ I E E_ D_ $3., 178,689.24^
5
-o -o
0o o
. 924,264.00 . 220,821.36
13,937.85 170,408.95
o i
i1
i ** j^
-0"
-0-o-0-
< $ 56,360.97
-o-o-
-0_
S'
35,000.00 -o-
35,000.00
$ 12,074.99
-o-o-
53,775.00
35.00
. 35,000.00 25,000.00
$1,443,242.16 1,078,906.74
.221,768.80 . 32,865.00
-o
-o-
-o-
-o* 56,360.97
56,360.97 23,552.08
10,755.00
-o- 3,269.89
GLD014719
-o-
1,000.00
-o-0-
12,074.99
537.73 252.82
$1,349,355./98
47,074.99
93,886.18
300,447.45
3,084,803.06
S'"-- DILUTED - TOROITTO, CA1TADA
October 31, 1923,
IIABILITIES
CIJRIEETT
ACCOUTTTS RATABLE
For Purchases, Expenses, etc. Accrued pay Roll Bank Overdraft Customers* Credit Balances Salesmen*s Commissions
DUE AREILIA TDD COTTAUY
The Glidden Company, Cleveland, Ohio-ITet
UOHIHAL
CAPITAL STOCK
Authorized and Issued
DEFICIT
Deficit October 31, 1922 Uet Profit from Operations
for the year ended October 31, 1923'
v> 3,635.11 1,394.08 1,660.61 2,132.62 400.00 $ 9,342.42
357,716.82 367,059.24
$ 350,000.00
34,220.56 2,011.67 52,808.29 317,191.11
GL DO 14 72 0
(Tote A) Thi3 Palane Sheet is subject to the comments contained in our ** Certificate" included in and made a part of this report.
^ 684,250.35
ADJUSTMENTS APPLICA3IE TO PRIOR PERIOD TEE G1IDDEN COMPANY - C1EVE1AND October 31, 1923.
CREDITS
Inventory value of Advertising Stock, etc., of Campbell Paint & Varnish. Division at Octo ber 31, 1922, not recorded on books at the date named
Adjustment of local taxes applicable to prior period: Glidden Company of St. Paul Glidden Company of Massachusetts
Excess of provision for bonuses, etc., for period ended October 31, 1922, over amounts subsequently expended therefor: A. Wilhelm Division Glidden Company of St. Paul
Adjustment of Steel Drum Inventory Account, Adams Sc Elting Division
Refund received on prior years' Federal Taxes Campbell Paint & Varnish Division
Miscellaneous Adjustments applicable to prior period: Forest City Paint & Varnish Division A- Wilhelm Division
CHARGES
Charging off proportion of net operating loss of Mound City linseed Oil Company for the period from July 31st to October 31, 1922, previously charged, in accordance with operating agreement, to Manager of Mound City linseed Oil Company
Corrections applicable to October 31, 1922, Inventories
Rental of Brooklyn, New York storage site-used by Adams Sc Elting Division-applicable to prior periods
Adjustment of Purchase Discounts applicable to prior period
$ 31,034.79
4,704.31 859.44
2,246.37 750.00
3,130.40 472.13
1,052.27 835-19 $ 45,085-40
$ 12,041.14 4,318.12
2,500.00
1.570.72
20,429-98
NET CREDIT
$ 24,655.42
GLD014721
CONSOLIDATSD THE GLIDDEN COMPANY
October 31st,
THS GLIDDEN COMPANY GLEVELAND
SURPLUS-DEFICIT December 31st, 1921 - as shown by Audit Report
$2,074,562.73
ADJUSTMENTS CHARG3S
Corrections applicable to December 31st, 1921 Inventories
Local taxes paid for year 1921 in excess of provision made therefor: Adams & Siting Company - Chicago Linseed Oil Plant - St Louis
$ -o-
12,626,61 1.422,78
TOTAL CHARGES $ 14,049.39
CREDITS
Recording inventory of Steel Drums Net Refund received on Federal Taxes
paid for the year 1917 Miscellaneous adjustments-net-applicable
to the year 1921 - Campbell Paint & Yarnish Company, St Louis
TOTAL CREDITS
$
-o2,933.56
2.683,82 5.617,38
NET CHARGES _ 8.432,01
%
ADJUSTED SURPLUS-DEFICIT^DECEMBER 31ST, 1921 $2,066,130.72
CURRENT TRANSACTIONS ADDITIONS
Dividends received on Preferred Stock owned of The Glidden Stores Company
Net Profit-Loss? for the ten months' period ended October 31st, 1922
$ 24,491.25 205.698,80
TOTAL ADDITIONS $ 230,190.05
DEDUCTION
Preferred Dividends paid by The Glidden Stores Company (Funds advanced therefor by The Glidden Company)
TOTAL DEDUCTION
L L
-0-
-o-
NET ADDITIONS
SURPLUS-DEFICIT OCTOBER 31ST, 1922
230.190.05 $2,296,320.77
0LD014722
SURPLUS - CLEVELAND, AND SUBSIDIARIES 1922.
^=THE~GLIDDEN" ToY^Tf "LTD7 r TORONTO - CAITADA
^fHE"GLIDDlE"STORES" COLIpSiY CLEVELAND
$ 39,318.51
$ 148,403.61
COMBINED $1,886,835.61
$ 7,714.79
$
-o-oe 7,714.79
$ 1,849.50 -0-
$ $
-0-
$ 1.049.50
$
5,865.29
J$ ;:;45,.183.'80
-0- $ 7,714.79
-c- 12,626.61 -0- 1.422.78
-0- $ 21,764.18
-0- $ 1,849.50 y -0- 2,933.56 V
-o-
-0-
-0- '
7$ ,148,408, 61*
2.683.82 y
7.466.88 #
14.297.3'
$1,872,538.3!
/'
$ -o10.363.24
$ 10,363.24
$ -0^`237337714'^
? $7[23,337.14 *
$ 24,491.25
192.724.90 $ 217,216.15
$ -o -
$ 26.250.00
3 26.250.00
$ - -0-
3 26.250.00
3 26.250.00
$ 10.363.24
- 49,587.14T
$ 190.966.1
'$ "34,820.56'
$197;995.75 7
$2,063,504.4
GLD01472 3
SURPLUS-DEFICIT THE GLIDDEB COMPANY, LIIII TED - TORONTO, CANADA.
December 21st, 1921.
U2IEARHED SURPLUS
PROFIT & LOSS SURPLUS-DEFICIT COMBINED
fiURPLUS-DELICIT December 31st, 1920 - as .shown by Audit Report
$ 89,709.83 1,333.73 $ 88,326. 05
ADJUSTMENTS
Duty refunds applicable to prior period Adjustment of duplicate charge to
Machinery and Equipment Account for paint mill installed in 1920
-0-
1, 461. 37
1,461.37
-0- D i, 150.75 ^ ' 1.15C.75
ADJUSTED SURPLUS-DEEICIT ?
DECEMBER 31ST, 1920
$ 89,709.83 '5 ~ X j u7 X S
88,636.67
CURRENT CHARGES
Portion of depreciation charged off
during current year applicable to
Unearned Surplus
S
Net Loss for year ended December 31st,1921
3,869.75 $
-o- * 3, 869. 75
-o- 124. 085. 43 124,085. 43
SURPLUS-DEEIC17yDECEMBER 31ST, 1921
& 3.869.75 $ 124.085.43 $ 127.955.18 $ 85, 840. 08 ,-K 125,158.53 0 39,513.51'
GLD014724
Dji 114
- CLEVELAND AND SUBSIDIARIES
December 31st, 1920.
5.
LIABILITIES
CURRENT
ROTES & LOAD'S PAYABLE
Por Borrowed Money
$5,170,000.00
Por Purchase of properties, payments
due during the year 1921
134,156.25
Installment on Land Contract due
May 1st, 1921
19,000.00
Cash advanced on Employees* Rotes
for Capital Stock Subscriptions
(Contra)
157,916.60 $5,481,072.85
ACCOUNTS PAYABLE
"
Por Purchases, Expenses, etc,
$ 751,060.72
Unpaid Pay Rolls, Commissions,
Bonuses, etc.
90,484.7 0 841,545.42
ACCRUED
"
Local Taxes, etc.
$ 156,561.11
10.884.08
167,445.19
IX
MORTGAGE PAYABLE Mortgage of tsuosidiary Company due Aug. 15-1921
25,000.00
DIVIDENDS
Preferred Dividend-The Glidden Company .
payable January 3rd, 1921 Common Dividend-The Glidden Company,
evidenced by Scrip payable
~$110,915.00
October 1st, 1921
160,753.50
Preferred Dividend-The Glidden Stores Co. payable January 3rd, 1921
RESERVE
Por Pederal Taxes & Contingencies DE*' hIKRTTH
8,750.00
280,418.50 40.436.39 $ 6,835,918.35
Rote given in connection with acquisition of Capital Stock of Subsidiary Company
540,000.00
Land Contract installments payable
subsequent to year 1921
57,000.00
Rotes for properties purchased, installments
due aubseauent to year 1921
154,096.28
ROMIRAL
9213*Wat . enftPTr-imroHITy_IjyrEREST (THE CLIPPER STORES CD .1
PREPERRED-V%
751,096.23
Authorized and Issued
Less: Amount owned by The
Glidden Co.
COMMON (HO PAR VALUE)
Authorized lO.oGo shares
Declared Value
$
XtG S S *
Held in Treasury $ 25,000.00
Owned by The Glidden
Co.
24,190.00
500,000.00 440,500.00 $
50,000.00
49,190.00
59,500.00 810.00
60,310.00
CAPITAL STOCK (THE GLIDD1 )-7% CUMULATIVE
Authorized Unissued
COMMOR (RO PAR VALUE)
$7,500,000.00 A 721,900.00 $6,778,100.00
Authorized 360,000 shares Issued 322,845 shares-Declared
value SURPLUS
$1,614,225.00 5,102,319.09 6,716,544.09 13.494,644.09
$21,141,968.72
(Rote B) This Balance Sheet is subject to the comments contained in our "Introductory Letter", included in and made a part of this
renort.
GLD014726
OTHER DEDUCTIOHS - OTHER INCOME TEE GLIBBER COMPART - CLEVELARD, AND SUBSIDIARIES
Eor the year ended December 31st, 1920.
51BBR DEDUCTIONS.
Interest Paid
$ 311,783.44
Bad Accounts charged off and provided for-Ret
88,015.43.
Lease Rental in Connection -with, operation of
A. Wilhelm Company
34,811.80
Loss incurred in disposal of Permanent Assets-Ret
22,788.13
Loss on Sales of Raw Materials to Subsidiary Compani es,
Brokers, etc.-net
34,075.90
Loss sustained on Crude Oil Resales-Uargarine Plant
65,699.61
Loss incurred through tank leakages-Margarine Plant
12,796.24
Life Insurance Premiums
12,228.75
Donations
8,215.87
Loss on sale of U* S,, Government Securities
5,895.46
Claims against Common Carriers charged off
4,979.80
Adjustment-Accounts Receivable-Ret
782.09
Adjustment of Cash Shortages and Qverages-Ret
261.02
Provisions for Contingencies
10,200.00
Miscellaneous
324.82
LESS: OTHER INCOME
TOTAL OTHER DEDUCTIONS
$ 612,858.36
Interest Earned
53,234.69
Recovery on Eire Insurance in excess of Book Value
of Property destroyed Profit realized through sale of Contract for Operating
Plants of Yaryan Rosin & Turpentine Company
,40,326.49
200 000.00
Settlement received through Abrogation of Purchase
Contract
6,000.00
Special rebate on Purchases-Glidden Stores Company
12,014.66
Sales of Scrap, Drums, etc.
4,506.86
Rentals received
1,197.50
Interest Received-Corporation Bonds
192.00
Interest Received-U. S, & Canadian Government Bonds
986.21
Dividends Received-Miscellaneous Stocks
467.70
Dividends Received-Subsidiary Company
4,500.00
Profit on sale of Miscellaneous Stocks-Net
515.53
Customers and Miscellaneous Credit Balances absorbed
14,976.14
Income from Gas Well
155.05
Miscellaneous Income
_ 2.070.88
TOTAL OTHER INCOME
341.145.71
OTHER DEDUCTIONS RET AS SHOWS BY OPERATING STATEMENT
271,714.6
] GLD014727