Document 4v90xDn908RjQ6NO6pVqJwaEp

Monsanto Chemical Company Genehal Offices Saint Lotus CABLE ADDRESS MONSANTO-8T. LOUIS July 25, 1934. TO THE STOCKHOLDERS OF MONSANTO CHEMICAL COMPANY: Shipments of our products continued in good volume during the current second quarter, net earnings for that period being $704,918. Apportionment to the 864,000 shares outstanding results in approximately 81 fc a share. Net earnings for the half year of 1934 are $1,379,035 or approximately $1.59^ a share. Giving retroactive effect to the one hundred per cent stock distribution of 1934, comparable earnings of the first half of 1933 were 98c a share. Current earnings are stated as shown by the company's books of account without verification by independent Certified Accountants. No undistributed earnings of controlled companies not consolidated are included in the accompanying Statement of Consolidated Income. CSV* STLCOPCB4056123 331344 MONSANTO CHEMICAL COMPANY AND SUBSIDIARY COMPANIES Comparative Consolidated Balance Sheets at June 30,1934, and December 31,1933 ASSETS Current Assets: June 30. 1934 Cash and U. S. Certificates.......................... $ 2327.977.25 Marketable Securities at Market .... 316,950.48 Customers' Notes and Accounts Receivable, Less Reserve............................................... 1.664,786.51 Miscellaneous Accounts Receivable . . . 64.885.95 3309.359.73 t 7.583.959.92 December 31, 1933 8 2.055.361.85 25038135 1.590,405.93 67,430.36 3,227,824.03 8 7.191.303.42 Increeee Decrease 2 272.615.40 66.66933 74,380.58 2.544.4! 18.464.30 8392,656.50 Other Assets: - .. : : Due from Officers and Employees >.' V; n;( On Purchases of Stock and ,, Monsanto, Illinois Bonds.................................... 8 Advances....................................... ... V'!i Investments in Controlled Companies . Miscellaneous Investments . . . . , "I : , \ \i -i'.<! 62,543.53 16,712.34 797,466.67 496,997.89 18 -i. ` ' '1 ' 73,02531 20,12539 : 799,073.30 , 455.041.72 8 10,481.68 3.412.95 1,606.63 41.956.17 Frozen Deposits and Stocks in Banks, Less Reserve .......... .. ;. 15.839.28 > ` 15.839.28 $ 1389.559.71 7--------------- - 81363.104.80 < .. 826.454.91 Plant Property! Land...................................... Buildings i . ...................... Machinery and Equipment. $ 135438138 8 1.249.972.48 - 3333.119.63 3.250.65233 10.198382.10 9,630,431.71 8 4,408.80 82.467.30 567,850.39 814,785.783.01 814.131.056.52 8654.726.49 Potent* and Proceste*: Deferred Charge*i Other 82.00 82.00 8 156.00137 8 156.00137 823,915.306.01 8 122.887.83 11.700.00 , 8 134,587.83 822,820.054.57 8 33.113.54 11.700.00 8 21.413.54 81.095,251.44 LIABILITIES Current LiabiUtieet June 30, 1934 Accounts Payable ...................................... 8 Accrued Accounts........... Estimated Income Taxes.............................. 805.798.90 255,995.73 557,164.48 8 1,618,959.11 Dsconbsr 31, 1933 8 1,089,864.35 231,611.82 553.286.07 81.874,762.24 Ido.__ Doormat 8284.065.45 24J83.9I 3.878.41 8255.803.13 Funded Debt! ' First Mortgage 5%% Sinking Fund * , ......Fund Requirement, 80 000.00 8 993.000.00 43.000.00 8 950.000.00 8 1.073.000.00 42,500.00 8 1.030.500.00 880.000.00 500.00 880,500.00 Reserves: . Depreciation and Obsolescence................. For Redemption of Returnable Containers For Fluctuations of Exchange..................... For Contingencies................. ......................... 85.175337.47 565,850.68 234.298.05 309323.% 8 6384,610.16 8 4.893.846.75 552,219.50 234398.05 204.238.48 . 8 5.884.602.78 8281390.72 13.631.18 104.985.48 8400.007.38 Capital Stock and Surpluet ^ < V v * Capital Stock-- Authorized 1,250,000 Shares of $10.00 Each; Outstanding at June 30,1934,864,000 Shares, Including 30.643 Shares Held for Exchange of Stock of Predecessor Corporation............... 88.640.000.00 Paid-in Surplus............................................... Earned Surplus acquired from predecessor Corporation.......................... 2.366.713.26 Earned Surplus............................................... 815,061,736.74 823.915,306.01 8 4.320,000.00 5.389.206.04 2,718.058.14 1,602.925.37 814.030.189.55 822,820,054.57 84.320,000.00 4.316.143.01 35IJ44M 1,379.035.08 81,031,547.19 81.095 351.44 Notation. -- Cumot Amet* and liabilitiM of the British subsidiary have boon converted t *4.85 per 9 'S'3 n> ! MONSANTO CHEMICAL COMPANY AND PREDECESSOR CORPORATION AND SUBSIDIARY COMPANIES . . Statement of Consolidated Income for the Six Months Ended June 30, 1934, and 1933, and Comparison : '' ' ........................................................................................... ' Gross Profit from operations before Depreciation and Obsolescence . . . . . . . . . Six Months ended June 30. 1934 . $3,208,202.55 Six Months ended June 30. 1933 Increase Decrease $2,257,767.06 $950,435.49 Deduct: Selling and administrative expenses .... . . . . Depreciation and obsolescence................................................ Research expenses............................................................................. Total........................................................................................... Net Profit from Operations. ... . . . . $ 845,837.26 . 447,390.4! . 175,000.78 . $1,468,228.45 . $1,739,974.10 $ 621,803.83 $224,033.43 416.771.10 30,619.31 187,873.60 12,872.82 $1,226,448.53 $241,779.92 $1,031,318.53 $708,655.57 Other Income: .................... Interest Earned....................................................................................... Other . . . . . ., . . Totol Clross Income . $ 14,224.91 . 113,797.19 . $ 128,022.10 . $1,867,996.20 $ 19,693.19 $ 5,468.28 97,570.49 16,226.70 $ 117,263.68 $ 10,758.42 $1,148,582.21 $719,413.99 Income Charges: Bond Interest....................................................................................... Other Charges................................................ ......... Total <<* . $ 27,591.69 . 180,004.06 . $ 207,595.75 $ 42,473.74 $ 14,882.05 98,257.89 81,746.17 $ 140,731.63 $ 66,864.12 Net Income before provision for income taxes . Provision for income taxes . . . . ... Net Income transferred to Surplus .... Per Share of Outstanding Stock.......................... . $1,660,400.45 $1,007,850.58 $652,549.87 . $ 281,365.37 $ 168,902.99 $112,462.38 . $1,379,035.08 $ 838,947.59 $540,087.49 . $1.59^ *.98 Notation.--The earning* of the British Subsidiary have been converted for the six months ended June 30. 1934 at $4.85 per , and for the six months ended June 30. 1933, at 83.40 per . * On basis comparable to June 30, 1934 STLCOPCB4056125 MONSANTO CHEMICAL COMPANY AND SUBSIDIARY COMPANIES Statement of Consolidated Paid-In Surplus June 30, 1934 Paid-In Surplus December 31, 1933. . . . - . . $5,389,206.04 Net premium on purchases and sales of treasury stock and scrip .... 3,856.99 . . , :' *......................................................... $5,393,063.03 Appropriation of Paid-In Surplus for 100% Stock Distribution on April 30, 1934 . . . . . . . .... .. ................................. $4,320,000.00 Paid-In Surplus June 30, 1934 . . . . . . ....................................... $1,073,063.03 Statement of Consolidated Earned Surplus Acquired from Predecessor Corporation June 30, 1934 Earned Surplus Acquired from Predecessor Corporation December 31, 1933 . $2,718,058.14 Deduct: Dividends paid during the six months ended June 30, 1934 .... Expenses incident to the incorporation of Monsanto Chemical Company in the State of Delaware .................................................................. $351,000.00 344.88 351,344.88 Earned Surplus Acquired from Predecessor Corporation June 30, 1934 . . $2,366,713.26 Statement of Consolidated Earned Surplus June 30,1934 Consolidated Earned Surplus December 31, 1933.................................................... $1,602,925.37 Add--Net Income for the six months ended June 30, 1934 .................................1,379,035.08 Earned Surplus, June 30, 1934 ..................................................................................... $2,981,960.45 DSW 331346 STLCOPCB4056126