Document 4JKrpyqgG3zY90DD1Qyn0av7Q

To the Stockholders of National Lead Company: The following is a Consolidated Statement of National Lead Company and all of its domestic subsidiary companies in which it owns all of the capital stock, for the six months ended June 30, 1936. The dividends received from foreign corporations owned in part or in whole, domestic corporations not wholly owned,1 inter est on bonds and miscellaneous items not directly connected with current operations, are included in the item "Other Income." Dividends on National Lead Company Preferred and Common Stocks owned by the Com pany itself are not included in this statement, either as disbursements or as income. The number of shares of Common Stock of the Company has been increased tenfold by a splitup of ten for one in conformity with action of stockholders at a special meeting held April 16, 1936. The splitup was made effective May 15, 1936. Fr ed M. Car t er , President. r ,_ Current Assets: ASSETS Cash .......................................................................................................................................................................... $4223,719.12 U. S. Government Securities (Market Value $1,231,744.87)........................................... 1,147,888*29 Other Marketable Securities, Domestic (Market Value $4,196,17675)............... $ 3,243,032.13 Other Marketable Securities,Foreign (Market Value $3,403,025.48)........ 3,380,066.06 6,623,098.19 Accounts and Notes Receivable................................................................................ $11,442,595.38 Less Bad Debt Reserve..................................................................................................... 659,94124 10782,654.04 Notes Receivable from Employees....................... .................................................. .................................... Inventories (at Normal Prices, Excess at Cost or Market).............................................................. 144,676.92 20,001,889.53 Total Current Assets................................................*................................................................................................... $ 42,923,926.09 Investments: Securities of Affiliated Companies (at book value, in no cases exceeding cost) Domestic ............................................................................................... $4,699,418.09 Foreign ............................................................................... 6,17229729 $10271,715.68 National Lead Company Capital Stock (34283 shares Preferred A; 25215 shares Preferred B; 3,210 shares Common) (Market Value $9,507,292.50)............................... Miscellaneous Investments (not listed on any exchange) Domestic ........................................................... TT.... .7771?............................................. $ 403,50822 Foreign ................................................................................................................................... 470,919.12 7,654,510.57 874,427.34 Total Investments.......................................................................... ............................................................................. Fixed Assets: Plant Properties and Equipment (net)................................................................ .................................................................... Deferred Charges ................................................................................................................................................................................ 19,400,653.59 . 44,128,812.79 459,661.00 UABCLmES Current liabilities: Accounts Payable, audited but not due........................................................... Notes Payable.......................................................................................................... Tax Reserve ............................................... ........................................................... Dividend Payable August 1, 1936 on Class B Preferred Stock............ Total Current liabilities............................................................... . Reserves: Fire Insurance Reserve........................... Employers Liability Reserve................ Pension Reserve ..................................... Foreign Exchange and Miscellaneous. $ 3,034,42022 2250,000.00 1223,56523 116,193.00 $ 6,924,179.05 $ 4,797284.02 426,664.30 7,000,000.00 248,713.99 12,472,66221 Capital Stock and Surplus: Capital Stock: Authorized Preferred--Class A--Par Value $100............................................. $25,000,000.00 Preferred--Class B--Par Value $100............................................. 25.000.000.00 Common --Par Value $ 10..................... ................ 50.000.000.00 Issued $24267,600.00 10,327,700.00 30,983,100.00 Earned Surplus Total Capital Stock and Surplus $100,000,000.00 $65,678,400.00 .. .\T.V?V... 21237212.11 87216212.11 $106,913,053.47 DETAILS OF PLANT INVESTMENT June 30, 1936 Gross Property ............................................................................................................................. $76,026,45321 Less Depredation and Depletion Reserves............................... ..................................... 31297,641.02 Increase or Dec. 31, 1935 Decrease $75,503,580.49 $ 52227322 31,041,291.99 856,349.03 Net Property ....................................................................................................... $44,128,81279 $44,462,288,50 $ 333,47571t See page 4. tDecrease. 0000-NLI"000018184 CONSOLIDATED EARNINGS STATEMENT For the Sbe Months Ended Jane 30, 1936 Six Months Ended June 30th 1936 1935 Sales.................................................................................................................................................. $36,S7MJ8 $32,064,071.16 Cost ol Goods Sold, Taxes, Depredation, and Other Expenses............................... 34,320,529.56 30768336.46 Net Operating Profit.............................................................................................................. Other Income.................................................................................................................................. 45334133 Total Net Ifleone.MttM<<t............................................................... .. $2^40927.05 Dividends on Preferred Stock Ontitanding:<-C3ass A................ ......$730,775.50 -CUu B.......................... 232386.00 963,16130 $730775.50 232386.00 $ 1,795,734.70 819775.11 $ 2,615,50931 963,16130 Amount Earned on Common Stock.................. .................................... .. Note:--No provision has been made for Surtax, if any, on undistributed profits. ANALYSIS OF CONSOLIDATED SURPLUS 1936 Surplus--At beginning of year............. ......................................................................._................ $2073372136 Add: Net Income for Six Months......................................................................................... 2740*927.05 $ 1,65234831 1935 $22,413306.99 231530931 $2337474761 $25,02931630 Deduct Dividends: Prefened Stock Outstanding:--Class A....................$$773300,,777530 --Class B......... . 232386X10 $ 963,161.50 $730,775.50 232386.00 $ 963,16130 **14% Stock Dividend. 77233635 3,05934376 $ 4,79534131 ................... S2133731ZH $2033377579 The present normal stocks of the Company are as follows: Lead ............................... .......................................................................... 49.487J4 short tons valued at $0.0J per pound Tin .............................................................................................................. 1.I24& short tons valued at J2\ per pound Antimony ........................... ............. ............................................................. 259 short tana valued at .OS per pound Stocks in excess of theae normals are valued at cost it market whichever is lower. *A Stock. Dividend to Common Stockholders of 14% payable u Common Stock was paid on January IS, 1935 oat of Common Stock the Company in its treasury. fey 0000-NLI-000018185