Document 28Z6wZQL81ezzjQjx75LBG2R

Annual Report 1954 ll Dw t Sh m*w /n *W/u ia ms Co . 0007-SWP-034825 N21749 Th e Sh e r w in -Wil l ia ms Co . A. W. STSUDCL T* H* S^ddoUtTK Wt fnmt buvwith th rnaanliditad Balaaca 5baat and Coaaolidatad tow aad Surptas Account* of Tha 5harwia WiUiuu Cotapasy for tba iacal yaar radad Aufuat 31, IHi Tba aaiaiaga Wd m Fadaral laeoaw Ta* aad ptariaiaa far tba Mo Ftaa aia $2&$14jl. Tba lanot aatmatad far FM Tarawa aad Iacaaa> Plate Tas it IlMNJU. For tba Praaioa Plat W.300.000 baa baaa a*t aaida fail yaar. Tta taal rraanHditarf art amtfafU tfttr all dbdactfaa aia S1064M21. tba highaat ia tba Coapav'i biatary, Tbaaa aat aamnia altar allowiag far Prafarrad Dradwd* aia aqairalaat t $7.H par abaia ea tba oatataadia 1J77JM ilyMiofCBMMt 3ted Ufa yaar alaa adiMbbd am afl Hai laoaid far alaa. Tba inciaaaa war Uat yaar am* 7.47 parcaat It fa. of ccnm, caa aoalamfaHpatbtMbattbaahaaaafaaipdarifaniariattbt yaar ia tba prodartfaa oftaAltaaaaaa fata* aqaip--t;ltrai taia, tafariaoa ata irfriparafan aad' boaaabaid ippKaarat Cnaaiqaaatjy, tba daaaaad far Uahial labbaa tafaal a aaarbad drap. Alaa ia tba raSroad aad aariaa bald tbamaaa a diaalia eartaibMat at bapfaf. Narartbaka* tba gaba ratted ia tbalaf laidaftbaCaa^--y*atpaatfaaa.aiw*|y.6afab*t fat tba bow* waia tbaa aflat tbia dadfaa. A laipa part a# tfaia mm aaa aoatribaiad Ip Sapar Kaa>Toaa aad Kaa-CIa, tba 0007-SHP-036 826 0007-SWP-000116246 lain of which mrpansd all pievious monk. Thai two prod uct*. o bi a wall finiih and the othtf an all*purpow rnamal, have attained aa oatpwt ia their respective fields, far ia excasa of any other interior fiaiahas mt offered the American Market. The Pigment. Color ft CH--irol Dmsian. which eeila pristanly to oiaaufactunrt inch haaie materials aa pignanta. colon, dyaataia. chen>l and caaa. njoysd a wreaaafatyanr with a masked gain in take. Sefimug to tha Company'* htaip oparation*. than have ban dnatie dacliaaa daring tha year in tha vain* of tha corlaadaa of taro cimatrkn Braail aad Maaaco. Ia the caaa of Snail, tha oftdat rota la will XUeraaairoa to dM dollar, but tha ftaa arrhanga rale at Angnt Slat waa shoot 99 to the dollar. U*ag due frm rata of 99 enueiraa to the dollar ha dgariog the not entrant assets ofthe Brasilian Companp. than atill ratoiina aa aocaaa of H.72&600 above tha awnwat at which tha iasatfant is carried a* tha Company's feanlm Pahg tha past two fiscal years. an wan aarcaaafal in traoafMiing ioto dollars aa rfivirlnii* 978MU. which ban haw iadndad in tha Cmpiny'* aatnmga fee those years. In .Masks tbo poao waa cftdaUy davalaad last April Inn il.S cents to 9 onto. Ffcct baa ban gim to due davalntiow hr writing down ths Company's net estreat anata to tho caimatpssamteiath*cenae)idatadfigafaa.A]aipraewp]aat, with all nodara iqsipmnt, ha*jest ban renplitadat Marico' Cifjr, the adit east of which haa ban fimarad ont of tha aatningi of tho Maaican Company. Tha total anaont apant hr the Company far plant daring tha year waa IMUm A largo port of this waa iipmiiiii ha *- rw,---c -i- ----- a.- of aoathar Phthalic Anhydride anit at Chicago aad farther tapaMBM IAh h mI ui colat IvilitiiR dM*. 1 I 0007-SW-034827 0007-SWP-000116247 The Company ha* eootinurd iit rematch and m product* development with unabated rigor. Along with improvement in tte regular Unaa of finiah**, it baa brought owt aaw products, among thorn "Apptihay" which waa gut on tht market !nt Spring. It waa Mt that tha American public would ualeoR.' a pattern that could ha applied te thawallaofit* hernia hjr aaaana of paint iaataad of bring laatrietad. aa in th* paat to plain walla only. Thia ha* baan irmmplilhtil by pardictiag a ra&ar with which a apacial farm adpoint callad'ApplSkmr" an aanfer bo roOad over Soper WTon, paodneinga baanthU dteotn* It** dhet completely waahabla, in aa infinite variety ad color*. Thia typo at Haifa tefcr i* manufactured at tha Canw pauy'c aaw plant at Paahlar, Ohio. tianfiar thaloyal and intent* afiart* that ham aada thia year'* taanltepataihla..................................... PruuUnL 0007-SWP-034828 0007-SWP-000116248 0007-SWP-000116249 1 CONSOLIDATED INCOME AND SURPLUS THE SHnWM'WIlUAMS COMPANY AND CONSOLIDATED SUBSIDIARIES YbUAiM)l.tM INCOME Pro4 fcw aaaaate for *a war nM Aar uac iU IWTMn ate maam, paten far ifcpiarianm iwi ate teama. and UMlMOiiHH.................................. SSJMJa Otetnua: Dwiteda wiinl ca apial aaadt af gnaar fbiidUHl lutaditffct--New A............... 9 739J99 Uauaad pawn a# iwnn ratarnad if 179,Mf MtaBanan... . .................. BMP 1JWJ19 ort.,... . arjmju n*m rar j flwrtel fcri hate ffe tayi aaaa ud i Nattepamlcapfa*1 abarabaodanaac UMIW MUTE 1P.P7 BUM HLUMOO 11U71000 A--w liar priarpan. TOOM* NETINOOMB..................................... EARNED SUftKUl Eteaaaafcg--taH.WM......................... Adda* ten fertepw.......................... asas* -1&2&2S HDLMUBM WMM4 IQMMBI Plteiad HOP far tea. t oun MIMtl I J.WMM BALANCE AT AUQUBT M. IBM. 5.77MM 0007-SWP-034830 0007-SWP-000116250 AUDITORS* CERTIFICATE Baudot Dutasn. Tbt Parana ViHaau Casipur, CMuiQha. Wahwtcnauud ducomclidMad hahnrt dtatteTllutiuua WiOiaa* Ca^my tad aaaaaladMd idiwtiwiai u af AufM >1, 19*4, tad A* rdwad w iw mh ii af cornoljdoad nga tad aught of Tfca Shafuia>W3UM Caagaer tad eaaaabkaad wbadMM tt Augau JUIBM. tad At oMaUMad muita af flair cpniw far di^daaMiaM9afd|HdirMa|alaMW> dag pnadpiaa ifptod an hda anMM wnA du rf.di | CMadQHa Ocaabar IRISH ERNST ERNST Gtftiftid Mte Ao e r mn i * 0007-SWP-034831 0007-SWP-000116251 7kgSHtMW/N-WlLLiAMSCQ. UlftafKI A*.N. W. ftmmrnim CnUOtl Mwifenwnif ha* Vtnaha. Calna, ha hah b** tal M* D* Ommk, Catalan. Map. laaat 01 Dir OriatGaa. kaaM* Mah Han fia^rA|ia awn. 0007-SWP--034832 i 0007-SWP-000116252