Document 8GbgJ78X5mrRMGv2bO72b37B
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BJgOST OK AUDIT TSAH SHEET! PKBraKB 313T 183a
Fogaon, Poloubat & Co. Certified Fubllo Aoconntant.^
I
N10104 PNYC000006
Poo a o n . P*l o u o e t 0Co .
New Yo *k
To the Board of Directors, International Smelting and Refining Company, 25 Broadway, New York
Dear Sirs:
rfe hare made a general audit of the books and accounts of INTERNATIONA!, 3G5LTING aND RE7ININ0 COMPANY for the year ended December 31st 1939, and present herewith a Comparative Balance Sheet, Comparative Income Account and Surplus Account, followed by various supporting schedules.
INVESTMENT IN AND OPERATIONS OF SUBSIDIARIES The socounts of wholly owned subsidiaries have not been consolidated
with those of International Smelting and Refining Company in this report. Three of the subsidiaries. New Jersey Storage and Warehouse Company, Raritan Copper Works, and Raritan Terminal and Transportation Company, are not operating, and the operations of the fourth subsidiary, International Building Association, ere not an integral part of the operations of the parent ooapany. The investment, including net advances, of International Smelting and Refining Company in its wholly owned subsidiaries amounted to #147,429.61 at December 3lst 1939 and combined net loss of such companies amounted to #1,442.41 for the year 1939 {details page 20)*
Investment, including nonourrent advances, in subsidiaries not wnoily owned by the company amounted at December 31st 1939 to #3,540,960.74. The equity of the company In the oombined net income of these companies amounted to #235,216.19 for the year 1939 (details page 18 ). A dividend of #219,440.10 wee received from fountain City Copper Company.
OPERATIONS for the year 1939 International Smelting and Refining Company operated
at a net profit of #896,571.94, eompared with a lose of #969,994.57 for the year 1938. Income or lose of the various plants and departments of the oompeay compared with the respective investments, may be summarized as follows:
i ptrtCOOU
Tooele plii'-*tlaai Plant Oshir r'ill plant head refinery Zinc aiido dsJr.rmeet Yhite lead a^p-ar'.aent Raritan refinery Raritan secondary metals department Sari tar. electro-3;eet department
Investments and advances - details page d8
Items not allocated to departments (including *130.000 estimated federal incoma tax in the year 1933) - details page 39
Net profit or loss'* before interest on debentures and notes payable to affiliates
Interest on debentures Interest on actes payable to
affiliates
Net profit or losa*
Capital stock, deficit, and deben tures and notes payable to affiliates
z
Investment at December 31st
1939
Income or loss* of the year
1939
Income or Loss* of the year
1936
$ 5,841,712.01
170,900.77 218,558.70*
1,509,939.06
19,309.14* 113,785.65*
95,293.15
82.70?,52
787.30*
834,706.37
114,532,04* .49,553.29*
1,547,334.62
49,:.fc,
12,194.65*
665,262.04
23,859.19 70,146.36*
6,048,213.27 1,151,357,76 419,256.27
3,522,068.77
321,386,58 58,624.39*
286,046.50
20,350,576.61 1,685,770,11 125,874.32*
6,142,118.78
155,074,43 10,572.50*
26,492,695.39 1,840,844.54 136,446,82*
24,239.aes< 193,439.26* 66,427,32*
1,647,405,28 202,874.14* 400,000.00* 400,000.00* 270.833.34* 287,120.43* 896,571.94 969,994.57*
26,466,455.51
f Txcess of liabilities over assets.
During the year the accounts
the Raritan secondary metals department
were revised for the purpose of showing separately profit on treatment of second
ary metals, ar.d gains or losses resulting from sales of metals at prices different
from those on which the corresponding purchases of secondary material were based.
The profit of 321,366,58 3hown above consists of $326,213.33 profit on treatment
of secondary material, and *4,026,65 of net losses resulting from sales of metals
at prices other than those on which the purchases of the secondary material were
On the basis of 1939 volume of operations and metal prices it would appear that the differential between the price of secondary material and the price of refined metals Is sufficient to assure a reasonable profit on operations. The loss for 1938, consisting as it does of profits and losses from both operations end sales of metaia at prices other than those on which the purchases of second ary material were based, is not comparative with the profit shown for 1939.
i
PNYC00000604
3
TH profit ehown for the Tooele plant is calculated on the same basis as in previous years, and represents a combination of profits and losses on both
treatment operations and the results of selling finished metals at prices dif ferent from those on which the purchases of the original material were based.
The improved showing of the Zlno oxide dapartaaemt was caused princi pally by a decrease in the eost of zinc and an increase In sales price of the finished product. A comparison between the results for 1937 and 1939, in which years tha volume was substantially the same, shows the effect of these factors
Cents ner Dound
Pounds
1937 41,530,028
1939 42,327,507
Increase or decrease*
Operating expenses, Including de precis tlon
Hatal coat
Total cost Sales
Profit or loss/ before shut-down expense, loss on dismantlements etc.
1.815 3.440 7.255 5.173
2.062#
1.439 4.041 5.480 5.796
.316
.376* 1.399* 1.775
.623
2.398
WORKING CAPITAL
Changes in current position were as follows:
Current asseta Current liabilities
Deoeaber 31st 1958
# 11,171,961.58 2.272.143.65
$ s,as,ei7.3
December 31st 1939
11,929,242.74 1.442.019*06
10,487,223.66
increase or decrease*
757,281.16 830.124.57'
1,567,405.73
Ratio
4.9 to 1
8.3 to 1
In tha foragoiag comparison, advances by affiliates evidenced by notes, #3,000,000 payable to Anaoonda Sales Company and #2,250,000 payable to Anaconda Copper Kining Company, are not oonsldared current liabilities. Included in the deorease in currant liabilities shown above is a decrease of #1,211,840.19 in indebtedness to Anaoonda Salas Company on open account.
DTSTBISUnow nv mi-igcs
igp iHCfifW ingQQgr TO DKPABTMZNTS
i Tha detail schedules whioh support tha Balance Sheet and Income Account
PNYC00000605
4
1. Tooele plant, 2. liiaai plant, 3. Ophir Bill plant, 4. Lead refinery, 5. Zinc oxide department, 6. tfliite lead department, 7. Raritan refinery 8. Raritan secondary metals department, 9. Raritan electro-sheet department, and
a tenth division,
10. Investments and advances,
which Includes the activities of the company other t^an the prlnci, snc-Lt Lr.g,
refining and manufacturing operations, and an eleventh division,
11. Items not allocated to departments.
In maJtiag this rearrangement, the accounts of the company as 3hown
on Its various ledgers have been redistributed and allocated to the departments
to which they apply, except for a few items for which there is no exact 'oa3ls
for allocation and which are shown separately in the last division mentioned
above. Details of accounts which appear in this division are shown on page 39 ,
Land at 2ast Chicago, and land, buildings and machinery, and reserve
for depreciation at Perth .unboy have been allocated among the various depart
ments on a basis believed to be approximately correct.
FUND3 RECSTYSD AND DISBURSED
Funds received end disbursed were as follows:
Funds made available:
Operating profit before deducting non-oash
items and interest paid on debentures and
notes payable to affiliates (details
below)
* 2,521,161.31
Increase in current liabilities other than to
Anaconda 3ales Company
331,715,62
Ret decrease in Investments in and advances to
subsidiaries and sundry companies (details
below)
125,368.93
Increaee in reserves, deferred items, etc.
995.99
3,029,3v: )S
Funds disbursed: Decrease in indebtedness to Anaconda Sole s Company
Interest paid on debentures and notes payable to affiliates
Increase in inventories, principally silver and gold (details below)
Increase in trade accounts receivable
Expenditures for fixed assets (details below)
1,211,840.19
750,833.34
473,984.34 229,026.96 184.369.05 2,650.':73.9C
Inoreaae in cash
179,is? 95
9
PNYC0000060,
copper and lead bullion being claaalfiad aa finished materials
increase or decrease*
Copper (detail* below) Zinc (dotail a below) Lead (details below;
Silver (details below) Cold
Miscellaneous metals Zinc oxide White lead
Electro-sheet fabricating coat Prepaid billet coat freight on ooneigned stocks, etc
Quantity
5,352,348* 3,221,077 1,001,92-2*
233,495.15 16,482.596
lb lb. lb.
oz, oz,
Amount 187,,355..50' 150 ,494 .28
42 ,493..38' 211,,943..76 560 , 586..05
53 ,739..75 67,.152.,55*
6,,581., 74* 4,,015..90 25,,350..01 13,,308.,62
Reserves for freight and refining (increase)
c95, .10 160., 515. 62
Increase shown by Comparative Balance Sheet - page 10 Add deoreaao in depreciation included, in inventories -
(details below)
As above
535,,336.,56 JS,,176. 76 553, 513, 34
Decrease in depreciation Included in Inventories
Depredation applicable to December 31st 1936 inventory sold in 1939:
Tooele oopper
Zinc oxide - 2ast Chicago plant - Akron plant
White lead
Cents per pound Amount
6,000.,000 1,279,,992
126 ,451 168,,647
289 * 17,340.00
095) ,069)
1,328.53
.215
362.55
Depreoiatioa applicable to
unsold 1939 production: Tooele lead
19,031.08
652 ,155
131
854.32
Net decrease, as above
t 18,176.76
Copper
Quantity (pounds)
Price (cents)
Amount
Deliveries from December 31st 1938!
inventory:
Bair itan refinery
96,296
Raritan secondary metals
department
20,060,878
Raritan eleotro-aheet depart
meat
39.371
20,198,545
Accumulations in 1939:
Tooele plant
1,458,504
Miami plant
1,398,188
Raritan refinery-price adJ1
a
Raritan secondary metals depart
ment
11.969.505
14,846,197
8.170 9.822 10.958 9.816
12.619 11.194
12.061 12.093
Nat decrease, as above
5,352,348
t Q,030.78 1/970,355.99
4.314.43 1,982,701.20
184,048.62 156,514.69
8,781.21
1.446.001.18 1,795,345.70
i 187,355.50
1
PNYC00000607
Zinc Zinc oxide department: Accumulations in 1939 Deliveries from December 31st 1938 Inventory Net increase, as above
Lead Deliveries from December 31st 1938 inventory: Lead refinery White lead department
Accumulations in 1939: Tooele plant Lead refinery
Net decrease, as above
Quantity (pounda)
Price (cents)
Amount
3,326,383 105.306
3,221,077
4*664 4.422
4 155,151.32 4.657.04
i 150,494.23
3,546,890 56,113
3,603,003
4.840 4.600
4.836
$ 171,672.61 2,581.20
174,253.81
652,153 1.948.926 2,601,081
1,001,922
4.732 5.177
5.066
30,859.97 100.900.46
131,760.43
| 43,495.38
Silver
(ounces)
Covered by affidavits - Increaaa:
Unsold 1939 production Salas of December 31st 1938 inven
tory, including adjustments for refining losses in prior years
1,141,309.57 550.873.69
590,435.68
Hot covered by affidavits - decrease:
Decrease in quantity Deoraase due to reduction in market
price - 1,487,139.94 ounoee
356,940.73
71.0238 4 810,601.42
64.5610
355.649.57 454,951.85
34.7500 8.0000
124,036.89 118.971.20 243,008.09
Set Increase, as above
233,495.15
t 311,943.76
HP BUMTURNS 70B 7USD ASSETS
Unes and lands
Buildings, machinery, ate.: Sast Chicago Perth iaboy Other plants - net decrease
Lest salvage received from assets sold
As above
$ 312.0?
# 107,691.27 85,539.83 853.29*
192.377.61
192,689.86 8.300.83
| 184,389.05
'>Wc')oo 0eo8
8
acopg o? HJDIT
rfa have made a general audit of the books and records of International
Smelting
Refining Company and its subsidiary corporations for the calendar
year ended Deoeober 31st 1939. In connection with our. audit we examined or
tested the accounting records of the oompaay and its subsidiaries and other
supporting eridenoe and made a general review of the accounting methods includ
ing the system of internal check end control and of the operating and incase
accounts for the year but we did not make a detailed audit of the transactions
except in the case of liami plant, which is not examined by the company's own
Internal auditors.
In the ca3e of all other companies and departments we satisfied our
selves that international Smelting and Refining Company and all subsidiary com
panies were Included in the scope of the work of the internal auditors of the
company.
rfe examined into the sufficiency of the internal audit and examined
the reports of the internal auditors.
Investments, securities, cash, notes receivable and payable, debentures
and capital stock have been verified by inspection, certificate or correspondence
and found in order.
Accounts receivable were examined in detail and those considered bad or
doubtful have been written off or have been provided for in reserve. Accounts
receivable, where these are of material amount were tested by selecting certain
acoounts for confirmation by direct communication with the debtors or, where
possible, by direct comparison with tbs books and records of the debtors. The
company's internal auditors have also verified the accounts receivable of certain
departments by direct communication with the debtors and, while such confirmation
by internal auditors cannot be substituted for a similar procedure by the company*
independent auditors, it has been given full consideration in determining the
nature and extent of our verification of accounts receivable.
Certificates of responsible officials have been reoeived certifying to
the correctness of quantities, descriptlone and ownership of inventories and we
have made tests of the clerical accuracy of the inventories.
In accordance with what ta now generally agreed to be accepted account
ing procedure, we have extended the scope of our audit to include physical tests
f
PNYC00000609
m
9
of inventories* Inventories at all plants ara not tasted nor la a complete count made of inventories at any ona plant. Inventories are not tasted at the close of tJie calendar year and the physical teats ara in no way intended ns a substitute for tha talcing of physical inventories by company employees. The pur pose is to establish the existence of a proper system for taking and recording physical Inventories and to satisfy ourselves that the systems are operating effectively and as planned. In the course of this work, very substantial part {measured in money value} of the physical inventories Is aotuaily Inspected by us. While this inspection is not our primary evidence of the existence and value of the inventories which must now, as in the peat, lie in the records of the com pany, it is of great value as a confirmation of the company's records and repre sentations. Stocks of metals and products held for the company or its subsidi aries by others or held by the company for the account of others have been veri fied by direct communication. It is the general praotlce of the company's internal auditors to make physical teats from time to time of Inventories of supplies and, while these tests cannot taka the place of similar testa by inde pendent auditors, they are given full consideration in determining the nature and extent of the tests mads by us.
The accounts axe presented in the same fora end on the same basis as those of Inaconda Oopper Kining Company, of which International Smelting and Befinlng Company is a wholly owned subsidiary.
Sespectfully submitted,
New York, July 15th 1940
Certified Public Accountants
i
PNYC00000610
r IOTBRHATIOMAL Sner^ flT) CQUARATtVa wir.ft
Pegs
ASSETS
FIXED ASSETS:
15 tinea and mining claims and lands for metal producing
and manufacturing plants
16 Buildings and machinery at reduction works, refineries
and manufacturing plants 17 Less reserve for depreciation
Patents
Investments: 10 Securities of subsidiaries - not wholly owned 20 - wholly owned
21 Other security investments
Indebtedness of subsidiaries - not current: 19 Not wholly owned
20 Wholly owned
December 31
# I 26,463,191,81
16.445.154.4fi
DEFERRED CHARGES: 22 Prepaid expenses 23 Deferred expenses
CURRENT AND OTHER ASSETS: Current assets: Supplies on hand Metals and manufactured products - in process
24 - finished Accounts and notes receivable:
26 Trade, leas reserve 25 Affiliates 19 Subsidiaries - not wholly owned - current 27 Cash
Other assets:
Z& Advances to sundry mining companies, including advances on ores, less reserve
Advances to Tooele Valley Railway Company Other accounts receivable
23,089.26 18.537.4fi
709,546.56 1,650,218.34 7,096,335.90
630,633.33 8,611.95
862,604.41 212.010.77
1]
139 , 023.73 155,727,2?
4 27
LIABILITIES CAPITAL STOCK - Issued and outstanding 163,500 shares of
the par value of #75.00 each
4 12
29 For repairs 30 For workmen's compensation insurance, etc.
CURRENT LIABILITIES: 31 Accounts payable - trade
Wages fw-Table 32 Accrued taxes
Other accrued liabilities 25 Indebtedness - to affiliates
- to subsidiaries - not wholly owned 20 - wholly owned
Employees' deposits
S3 DKBENTTRES AND NOTES PAYABLE TO AFFILIATES
DEFERRED CREDITS TO INCOME
H DEFICIT*
# 1,340.2C 35.1-1.66
717,200.16 92,236.19 73 , Lift. L3 6,149.40
1,356,219.10
19,136. M
* 27, l
i
PNYC00000611
:KATI0K4L SUELTTNT, AMP Rgnigwo COLPAMT COMPARATIVB RiT-AWCg straw*
DECSKBSR 31ST 1936 AND 1930
____Dqceaber 31flt 1936
December 31st 1939
10 Increase or decrease#
t 1,293,835.54
$ 26,463,191.81 16.445.154.45
10,018,037.36 5,080.00
2,800,594.00 43,000.00
1,379,621.19
700,828.03 131.543.96
16,372,680.08
23,089.26 18.537.46
41,626.72
709,546.88 1,650,216.34 7,098*335,90
630,633.33 8,611.95
862,604.41 212.010.77
11,171*961.58
139,023.73 155,727.29
294.751.02
| 27,861,019.40
1,212,081.73
# 26,460,316.73 17.026.696.78
9,433,619.95 1.00
2,809,594.00 43,000.00
1,414,465.48
21,489,72 21.390.49
731,366.74 123.816.46 15.767,947.36
42,880.20
827,199.52 1,453,036.70 7,633,672.48
840,580.22 27,692.04
755,883.06 391.178.72
11,929,242.74
89,734.26 119,9>11.66
a88s.5s0o
----- 2=0y-9?.7j' 34t,4"4
# 27,949,804.74
# 81,753.81#
2,875.06# 561.542.33 584,417.41# 5,019.00#
9,000,00
34,644.29
1,599.54# 2.853.02
30,530,71 __7.725.50# 604,732.72#
1,253.48
117,652.64 197,161.64# 535,336.56
209,946.89 19,080.09
106,721.35# 179.167.95
757,281.16
49,289.47# 35,815.61#
66.50
85.016.58# 66,785.34
4 12,262,500.00
1,340.50 35.171.68
36,512.18
. 717,200.16 92,238.19 73,118.13
6,149.40
1,358,219.18
19,158.92 6.059.67
2,272,143.65 15,250,000.00
480.00 1.940.616.43*
4 27,861,019.40
* 12,262,500.00
5,250.91 34,079.24
39,330.15
909,816.56 105,897.48
231,440.52 2,103.25
156,673.83
9,949.38 19,368.85
6.749.21
1,442,019.08 15,250,000.00
1,044.044.49* # 27,949,804.74
3,910.41 1.092.44#
2,817.97
192,616.40
13,659.29 156,322.39
4,046.15# 1,201,545.35#
9,949.36 229.93 689.54
830,124.57#
480.00# 896.571.94#
66,785,34
PNYC00000612
CCTTAHAVIV'S JPCMI8 ACCOUNT
r " |j; 5
A*r,coo(
Oo, 6 is
B
ASSETS
Tooele p^en-t
Miami plant Ophi
Vises and mining olaims and lands Buildings and machinery Reserve for dapreciation - deduct* patents
351,492.95
56,406.60
7,090,157.33 3,096,892.52 i7n
5,629,319.84* 2,965,001.53* 9g'
Inrestaenta:
Securities of subsidiaries:
Not wholly owned.
Wholly owned
other security investments
Indebtedness of subsidiaries - not current:
Not wholly owned
Wholly owned
Prepaid expenses deferred expenses Supplies on hand Ratals and manufactured products:
1,239.07
3,532.43 347,613.54
107.54 54,853.98
19
In process Finished
Accounts and notes receivable:
870,914.66 2,750,193.32
226,329.77 767,509.24
15
Trade, less reserve Affiliates
23,862.59
321,118.89
Subsidiaries not wholly owned - current Cash (credit balance*)
Advances to sundry mining companies, including
244,037.24 139,939.57
13,974.48
advances on ores, Jess reserve Advances to Tooele Valley Railway Company
77,267.12
Other accounts receivable
88.50
6,271,118.48 1,572,191.49' U4,
LIABILITIES
Reserves:
For repairs
For workmen's compensation insurance, etc. Accounts payabls - trade
Wages payable
Accrued taxes
other accrued liabilities
Indebtedness - to affiliates
- to subsidiaries - not wholly owned
Employees' deposits
- wholly owned
4,085.61 357,434.24
31,871*41 16,374.59
1,225.91 11,923.48
6.490.73
429,406.47
34,467.97 18,861.63 15,562.01
62,251.61
Net investment (^denotes excess of liabilities
over assets)
5,841,712.01 1,504,939.88
1, 17,
19, 95,
coo]oo t
IWggrAriOKAL SKBLTINC AND
C^MPASY
bal an c e assgr - pscacsgi 3isr 1939 - ar pgpAgivOTg
plant
Ophir Hill
Miami plant
plant
Load refinery
Zinc oxide department
White lead department
Harltaa ref Inery
Raritan
secondary metals
department,
492.95 157.33 319.84*
56,406.60 3,096,892.52 2,965,001.53*
6,000.00 170,198.49
96,284.63*
130,665.27
1,099,692.24 660,491.58* 1.00
60,822.51
13,243.90
315,523.79
. 67,227.4<
946,179.44 731,919.26 10,565,697.02 2,251,193.U
584,837.24* 450,207.58* 5,684,531*43* 876,956 .1*
5,848.91
239.07 532.43 013.54
914.66 193.32
662.59
037.24 939.57
267.12
88.50
118.48
107.54
54,853.98
226,329.77 767,509.24
321,118.89
52.30 19,524.79 15,132.67
2.40
13,974.48
1,572,191.49" 114,626.02
1,523.98 81,222.18 47,492.65 324,224.17 18,035.13
3,212.14*
3,955.92 1,000.00 28,753.02
293,166.95 568,507.32
206,974.85 643.50
25,000.00
2,707.40 18,511.43
274,570.94 78,485.34
1,039,152.90 1,556,015.10" 669,230.69
9,780.31 240,032.24
16,758.05
851,669*75
140,413.18 27,452*42
14,154.37
2,072,232.34
6,480,191.65 3,530,454.96
085.61 434.24 371*91
374.59 225.91 923.48
34.467.97 18,861*63 15,562.01
1,629.68 17,444.71
13,642.25 157,736.37
21,198.19 10,469.43
1,400.29
490.73 - _______________________ 256,48________
106.47
62,251.61 19,332.67-' 204,446.53
8,652.43 28.13
3,956.42 12.23
2,112.85 346,740.42
40,605.75 29,250.62
877.34 12,391.40
8,680.56
3,968.65
431,978.38
8,336.19 8,386.19
12.01 1,509,939.88
95,293.15.. 834,706.37 1,547,334.62 665,262.04 6,048,213.27 3,522,068.71
9 PNYC0000C615
'AMT \gararrs
:e lead irtmant
Baritan refinery
Raritan
secondary metals
departments
,243.90
315,523.79
67,227.46
,919.26 10,565,697.02 2,251,193.56
,207.56* 5,684,531.43*
876,956.15*
,707.40 ,511.43
,570.94 ,405.34
9,780.31 240,032.24
16,756.05
651,669.75
140,413.16 27,452.42
14,154.37
2,072,232.04
.230.69
6,480,191,65 3,530,454.96
1
Investments
Raritan and advances electro-sheet - details
4cpr.*ppt
Pg 36
Items not allocated to
departments - details oa*e 39 KHminatlrma*
Total pnfj* 'n
4,349.45 289,310.52
27,128.26*
206,349.60 219,076.35
51,938.54*
1,212,081.73 26,460,316.73 17,026,696.78*
1.00
2,609,594.00 43,000.00
1,408,616.57 731,366.74 123,818.46 2,123.20 36,668.34
24,765.70
511,845.62
12,467.14 119,911.68
291,297.41 6,172,919.56
51,687.84 201,322.44
253,010.28
2,809,594.00
43,000.00 ' 1,414,465.48
731,366.74 123,018.46
21,489.72
21,390.46 627,199.52
1,453,036.70 7,633,672.48
403.88*
340,580.22
27,692.04 755,883.06 391,170.72
89,734.26
119,911.68 88.50
403.86* 27,949,804.74
.956.42 12.23
2,112.85 346,740.42
40,605.75
29,250.62 879.34
12,391.40
8,386.19
968.65
431,978.38
6,386.19
262.04 6,048,213.27 3,522,066.77 -
* 5 ,2SC,91 .
1,462.55
9,949.36 19,368.65
5,011.01 140,876.61 131,362,54
403.88*
30,800.78 277,250.16 403.88*
34,079.24 909,816.56 105,897.48 231,440.52
2,103.25 156,673.83
9,949.36 19,368.05
6,749,21
1,481,349.23
286,046.50 6,142,118.78
24,239.88#
-*
26,4*2,435.31
Capital stock. Deficit*
Debentures and notas payable to afl-U lotas As above
i 12,262,500.00 1.0*4:w.4
11,218,456.51 1S. 250.000, QC
$ 58,4*3,455.51
PNYC000006L6
I
s a
Sales of copper lead silver gold miscellaneous metals zinc oxide white lead electro-sheet copper ores and concentrates
Tolls
Cost of sales laterdepartment
Income or loss* from operations, lefore deducting depreciation
r-iO"isicn for depreoiation
Income or lose* from operations, after deducting depreciation
Tooele plant
$ 451,679.87 2,261,654.72 2,759,500.78 1,564,627.20
Miami plant
272,356.10 258,663.12
Ophir Hill plant
410,270.68 481.349.36
7,929,082.61
359,216.41 690,237.63
509,901.77 509,901.77
6,741,925.46 893.319.21
7,635,244.67
820,235.75 5.343.24
825,578.99
332,123.46 332,123.46
293,837.94 102.864.61
64,658.64 70.545.64
177,778.31 95,310.79
190,973.33
5,881.00* 02,467.52
C:.^6r- income: M.denda received from fountain Citj Copper Company
.Interest received or paid* - net ocellaneoua income
Income or loss*
268.52* 326.60
58.08
191,031.41
1,584.00 1,584.00
240.00 40.00
4,303.00* 82,707.52
Deduct:
Expenses pertaining to nonoperating units
United States income tax - estimated
Loss (gain*} on disposal or dismantle ment of fixed assets
19,058.59
8,506.14
992.05
6,500.00
20,050.64 . 15,006.14
Income or loss*
170,980.77
19,309.14* 82,707.52
Interest on debentures and notes payable to affiliates
Hat income or loss*
$ 170,980.77
19,309.14* 82,707.52
PNYC00000617
INCOME; k CCOONT 3Y PSPAR^r^rr^
Tooele plant 451,679.87 2,261,654.72 2,759,500.78 1,564,627.20
410,270-68 481,349.36
7,929,082.61
Miami plant
272,356.10 258,663.12
359,218.41 890,237.63
Ophir Hill plant
509,901.77 509,901.77
Lead refinery
1,062,374.57 395,830.98 224,916.79
9,292.13 335,856.11 2,028,270.58
Zinc oxide department
2,453,229.70 163,407.72
2,616,637.42
Vhite lead department
1,040,233.47 1,040,233.47
Raritan refinery
8,082.03 14,432.97 23,362.69 75,655.29
4,212,632.06 4,334,165.04
Sari' secom mata. depart! 4,984,5:
494,2<
5,478,7<
6,741,925.46 893.319.21
7,635,244.67
820,235.75 5,343.24
825,578.99
332,123.46 332,123.46
2,065,280.02 37,181.50
2,102,461.52
2,440,514.96 1,004.22
2,441,519.20
456,988.81 525,158.71 982,147.52
2,915,998.72 10,235.12
2,926,233.84
4,935,It 192,92
5,128,02
293,837.94 102.864.61
64,658.64 70.545.64
177,778.31 95,310.79
74,190.94* 36,121.11
175,118.22 40,199.04
58,085.95 30,079.37
1,407,931.20 274,087.01
350,72 29,5
190,973.33
S,887.00* 82,467.52
110,312.05*
134,919.18
28,006.58 1,133)844.19
321,16
268.52* 326.60
58-08
191,031.41
1,584.00 1,564.00
240-00 240.00
4,303.00* 82,707.52
110,312.05*
7.83 7.83 134,927.01
97.22 97.22
16,226.27 16,226.27
28,103.80 1,150,070.46
321,16'
19,058.59 992.05
20,050.64 170,980.77
8,506.14 6,500.00 15*006.14 19,309.14* 82,707.52
4,219.99 4,219.99
114,532.04*
10,675.36 74,661.34 85,336.70 49,590.31
4,244.61 4,244.61
1,287.30* 1,287.30*
23,859.19 1,151,357.76
22( 22C
321,38*
170,980.77
19,309.14* 82,707.52
114,532.04*
49,590.31
23,859.19 1,151,357.76
321,386
f
$
PNVC00000618
BY DSPARUaWTS
Raritan refinery
8*062.03 14*432.97 23*362.69 75,655.29
Raritan secondary me tala department
4*984,550*50
fcsrltan electro-
sheet department
108,917.96 4,212,632,06 7 4,334,165.04 5,478,793.31 100,917.96
1 2,915,996.72 4,935,122.51
L
10.235.12
192.935.41
; 2,926,233.34 5,128,057.92
73,471.69 73,471.69
5 1,407,931.20 ; 274,087.01
350,735.39 29.569.37
35,446.27 15.717.21
3 1,133,844.19
321,166.02
19,729.06
Investment*
and advances page 38
Items not allocated to departments-
page 39
Iater-
departnent eliminations*
525,158.71*
10,133.64* 1,413.32*
552,583.80*
Total . page n
5,444,312.40 2,798,870.58 3,442,120.63 2,071,569.00
559,764.46 2,453,229.70 1,030,820.15
108,917.96 540,288.50
86,057,32 88,057.32
63,990.09 63,990.09
1,665,177.41* 23,271^062,38
1.665.177.41* 1,665,177.41*
20,933,708.81 20,933,706.81
88,857.3** 10.959.44
63,990.09*
2,337,353.57 705.453.59
99,016.76* 63,990.09*
1,631,699.98
> 16,226.27
! 16,226.27
= 1,150,070.46
321,166.02 19,729.06
219,440.10 40,235.57 1.200.00
260,875.67
161,858.91
550.83 550.83 63,439.26*
219,440.10 . 40,622.93
19.576.87
279,639.90
1,911,539.86
1 1.287.30* 1 1,287.30*
' 1,151,357.76
220.66* 220.66*
321,386.66
19,729.06
) 1,151,357.76
321,366.66 19,729.06
6,723.77 60.71
6,784.48 155,074,43
130,000.00
130,000.00 It
193,439.26*
....
155,074.43
750.833.34 944,272.60*
44,963.86 130,000.00
89.170.74 264,134.60
1*647,405.26
750.033.34 896,571.94
pNircooooo,
T
I 30KPUT3 ACCOUKT (DtnCTT \ I Ososmbsr 31st 1936 I profit ysar tndad Dsosobsr 31t 1939 - pags 11
f0f Bslaaos Shsst Dsosobsr 31st 1939 - pag* 10
14
$ 1,940,610.43 696,371.94
| 1,044,044.49
Inrsstasnt la National Tuaasi and Xiasa Company ih this rsport is at tbs g^uat shown on ths hooks of I&tsmatlooal Smslting sad Bsflnin* Company whioh dlffsrs froa that shown la ths rsport on Aaaooada Copper Xiaias Company and ooagolldstsd subsldlarlss. la that ths iawsstasat and Consolidated Surplus bars thsrs hssn rsduosd by 9136,307.60, ths amount of ths dsfioit of Otah-Oslawars lining Company on dissolution la 1937.
}
P^C0000, 0620
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% 35,216.10 23.318,37
} 11,897.32
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le t ln c rq a a a d e q u ity - y e a r 1930I
I E q u ity in Income, as above
Lees - d iv id e n d re c e iv e d fro m M ountain C ity popper Company - e q u ity In adjuetm ent o f a u rp lu a o f W alker M in in g Company
Met lnoreaae
V:
PNrC00000624
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PNrC00000626
OTHER SECURITY INVESTMENTS
ai
* 1,079,621,19
cions - year 1939:
Pi-odor Gold Mining Company stock - 61,764 shares (2,802,160 stares purchased less 2,740,416 shares sold)
^80 Consolidated Mining Company stock - 300,000 shares purchased
4,632 2g 30,012*00
.Balance Sheet, December 31st 1939 - peg 10
$ 1,414,465.48
<taLIs of balance at December 31st 1939
jinc oxide department; Delaware Floor Products Company: Common stock Second mortgage bonds National Fireproofing Corporation: Common stock Income debentures Northwestern Terra Cotta Corporation stock Viscosity Oil Corporation stock
Par value
no par $ 2,600.00
no par 200.00 10.75
no par
Investments and. advances:
Condor Gold Mining Company stock National Tunnel and Mines Company
stock
Paxk-Utah Consolidated Mines Company stock
Prince Consolidated Mining Company stock
4,632.30
no par
69,600.00 60,000.00
Shares
Amount
26 $
7
18.75 .75
2,5 80.50 2,600.00
5.01 20C.C0
5,546.91
61,764
328,200
69,600 800,000
4.632.29
915.693.92
441. :Z* 50 47. . 36
1,406.-.--. \i
Investment in National Tunnel and Vines Company In this report la *t ie amount shown on the books of International Smelting and Refining Caspar., .ffers from that shown in the report on Anaconda Copper Mining Company an: ited subsidiaries. In that the investment and Consolidated Surplus have tr.-rfduced by $136,307*60, the amount or the deficit of Utah-Delaware Mining C~=, Uaolution la 1937,
PNYC00000627
ppt t p^t p <rgpgNSES
2
prepaid inauranoa Sundry par Balaaoa Shaat paa 10
Daoaabar Slat Daoaabtr Slat
1938
1939
Deoreasa
| 2,984.8? 1,403.32
1,381.33
104.39
80.40
17.99
$ 3,089.20 21,489.72
1,599.54
DSFERRB) gPBTSSS
23
Tooele plant: Prepaid lime sand royalty Advance on purchase contract Sundry deferred expenses
lead refinery: Deferred dismantling expense
Zlno oxide department: Deferred dismantling expense Club memberships
Raritan secondary met ala department: Deferred repairs Blast furnace slag treatment expense
December 31st December 31st
1938
1939
Increase or
decrease*
# 5,717.03 166.77
5,804.62:
1,812.88.
1,225.91 2,157.96
240.56
3,632.43
,,_
4,491.94* 2,157.96
81.79
2,252.19*
1,812.88*
1,649.37'; 1,000.00'
1,000.00
1,649.37*
8,190.5ft:
16,758.03
8,190.59* 16,758.05
Per Balance Sheet - page 10
t 18,527.4i.
21,390.48
2,653.02
PNYC00000629
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pNfC00000630
ACCOUNTS .VITK AFFILIATES
23
December 31st December 31st
1936
1939
^counts receivable from: * tue American Brass Company
Anaconda Wire and Cable Company Butte, Anaconda and Pacific
Hallway Company Chile Exploration Company
$
15.66
1.C25.3S
6,960.99
11,627.77
376.17 15.579,76
9,352.64
28,232.92
Net off accounts payable to Anaconda Wire and Cable Company
740.89
54C,30
Increase cr increase*
1.CC9.71 2,666.78
376.17* 15,579,76
16,660,06
2CC.01*
per Balance Sheet - page 10
$
6,611.95
27,692.04
19,060.09
Accounts payable to:
Anaconda Copper Mining Company
$ 21,096.90
Anaconda Sales Company
1,322,103.83
Anaconda Wire and Cable Company
740.69
Chile Steamship Company Incorporated
3,669.05
Montana Hardware Company
3.945.20
Tooele Talley Hallway Company
7.202.20
1,358,960.07
Net off accounts receivable from Anaconda Wire and Cable Company
740.89
21,096.90 110,263.64
540.66 10,118.53
4,793.36 10.399.40
157,214.71
540.36
Per Balance Sheet - page 10
$ 1,358,219.18 156,673.83
1,211,640.19* 2CC.C1*
6,249.46 648-16
3,197 20
1,201,745.36*
200.Cl*
1,201,545.35*
3
PNYC00000631
PNYC00000632
T I CASE
Gash in banks: I Continental National Bank and Trust Company of
Salt Lake City First National Bank of Salt Lake City, Tooela Valley National Bank, Globe, Arizona First National Bank in Sast Chicago Firestone Park Trust and Savings Bank First Bank and Trust Company, Perth Amboy Chase National Bank, New York
Less outstanding drafts on New York office, deposited in banks
Petty cash
Per Balance Sheet, December 31st 1939 - page 10
193.,717..61 20.,066..23 18,,824,.48 13,,572..05 5,,000..00 13,,907..53
CC1.,322..44
486 ,,410, 39
95 ,,103, 55
39C ,, 306 , c4
971,.se
391,,17S 72
} PNYC00000633
ADVANCES TO SUNDRY UINTNO COMPANIES INCLUEINC ADVANCES ON ORES. LESS RESERVE
Advances on ores - Tooele: Ore purchase accounts: Good Good hut alow Fair but? alow
Other notes and accounts-.* George Fruermaa Panther Uinea Company Park City Ulnae Company Sundry
Advances for development, eta. Afterthought nines Company Ophlr Development Company Prince Coneolldated Mining Company Rico Znterprlee Mining Company
Leae reserve for doubtful accounts
Per Balance Sheet - page 10
Advances on ore*
Tooele plant Investments and advances
Total as above
December Slat December Slat Increase o j
1936
1939
decrease*
* 25,369-. 43 10,031.78
149,432.92
184,634.13
991.33 10,019.15
2,325.41 211.42
. 198,381.44
15,203.61 3.999.SC
91 -351.05
110,554.io
9,982.70
79.12.
120,615.98
10-,165.82' 6,032.28'
5CiCSi.87'
?4,Z79.97'
591.3356.45
2.325-41 152-3C
77,76-: 46
2,211.19 408.00
24,814.22 9.393.66
36,827-07
2,935.34 49.13 69.01
9,393.66
12,467.14
724.15 358-87 24,725 21
4,359-92
235,208.51 96,164.78
133,083.12 43,346.66
1C2.125 39 5C.r-3S.92
9 139,023.73
89,734.26
$ 120,615.98 43,348.86
77,267.12 12,467.14
Vi.: - * - 4'
% 89,734.26
}
PNYC00000634
j^anoa December 31st 1938 editions, year 1939:
Charged operating costs
Raritan refinery blast furnace
reserve
Raritan electro-sheet department
Reserve for Reserve for
lead anode drum surface
renewals
renewals
$ 1,340.50
Total 1,340.50
123,692.67 125,233.37
1.468.01 1,466.01
4,178.45 4,178.45
129,559.33 130,699.83
peduotions, year 1939: Repairs and renewal expense
105,245.99
Transferred to "Metals and
manufactured products -
finished" at December 31at
1939
$ 19,967.38
Per Balance Sheet. December 31st 1939 - page 10
1,466.01
415.55
105,661.54
3,764.90
19,987.38 5,250.91
pNy
c00 0(,3
ACCOUNTS PAYABLE - TRAPS
Ore purohaaes - Tooele plant Reserye for unearned tolls - Raritan refinery Sundry creditors Per Balanoe Sheet, December 31st 1939 - page 10
$ 236,558.04 154,848.14 S18.110.3fl
$ 909,816.56
PNtC00000638
T
PSSgNTORgS AND KCTES D*TAM.E TO A?FHlAT2Z
Aneooudu Copper
Anaoonda
35
Balanoe Sheet f*page 10
15 year =6 debentures
due 1950
i8,000,000,00
Demand note,
Intereat at 5?6
Demand note, details
of interest
below
2,250,000.00 5,OOC,COO.00
Total 15,250, CCO. C-C
interest aoorued and paid
Balaaoe Oaaember Slat 1936
; 21,096.90
Aoorued year 1939, per Inoome Aooount -
page 11
480.000.00 501,098.90
Paid year 1939
460,000.00
Balaaoe Deoesber Slat
1930
4
21,096.90
112.500.00 112,500,00 112,500.00
--
7,291.64
156.333.34 155,625.00 162,500.00
3,125.00
28,390,54
750 .833.34 779,223.90 755,000.00
24.223.90
patella of intereat on note parable to AfiiaoQnda Salee Company
Deoemba? 31st 1938 to June 15th 1940 5i months at 3$^
fuae 15th 1940 to Deoember 15th 1940 6 month* at 3#
Deoember 15th 1940 to Deoember Slat 1940 fe month at ljtf
Aa above
| 80,208.34 75,000.00 3,125.00
t 158,333., 34
P*YC0C 00Q63
5
PNrCG0000640
OTHBR D17IDBUDS AND IKTSRS3T
Interest received oa advanoes: Subsidiaries not wholly owned:
i Comet Coalition Hines Company lureka Bullion Mining Company
1,71,04 1.0*94,40
Mountain City Copper Company Walker Mining Company
2.613.44 9,704.58
12.54S.54
Prinoe Consolidated Mining Company Tooele Valley Railway Company International Building Association
Miscellaneous interest and dividends received - sundry departments
25.143.56 1,037.03 9.011.44 5.043.54
40.235.57 387.36
Per Xnoome Account year ended December 31st 1939 - page 11
$ 40,622.93
PNYC000006<
MI3CSLLAK30US INCOME
36
Tooele plant - rents, royalties, ate.
Klami plant - rants
OpHir Hill plant - rants
Barltan refinery: Record storage rentals
Copper storage rentals Discount on prepayment of taxes
# 1,350.00 11,894.06
2.982.21
Investments and advances: Parfc-Utab Consolidated Hines Company - reimbursement for dividends of prior years not received by the
company
Per Income Account, year ended December 31st 1939 - page 11
$ 326.60 1,564.00 240.00
16,226.27
} 19,576.87
J
PNYC00000642
89,190,94
8,300.83*
89,491.5?
105,934.50
--- .
* H O O O H
O '
Vo*i
AO-3
aO
U0
5oj
*5 ft
9O*d a _0 3-
> a A0 J
nMiOAHQHAOoNn
niOCDNHON
8
O
8
* OO o 8_ n
z*c3 oM-0n Hf9li
0* -4hO eM 3goQ-, 9hB Oa A 1 < *0
C0* Ctt* CMD o<H rt w o io
o ooo
oooiiitnoo ooooaratc*a
3S8
8
o 8_
>Ae0OSI
4 ca
+3 Oaa
3 BJ i5
Jo<a * 403aA h^k0ahha*h4uah<oooo^0am,
<- 40 v a0 3
Vi O
S h030O**
aArA.tB0V,Vsi grO*t>s*>sBa
00 030*0O3*0*0h 0*4
0H HO
A 0 /"----------0.4M3
a
0
a
0a
a
1 203,206.0?
to ta ls
* ^
-V
f
M
i PNYC0000064;
*
BXLAMC3 SHJ3T IT3CS
Wholly owned. subsidiaries
Lines and mining claims and lands
4
Buildings and machinery
Reserve for depreciation - deduct*
Investments:
Securities of subsidiaries not wholly owned
- wholly owned
43,000.00
N*ther security investments
Indebtedness of subsidiaries - not current - not wholly owned
-> wholly owned
123,810.46
Prepaid expenses
Supplies on hand
Accounts receivable:
Subsidiaries not wholly owned - current
Advances to sundry mining companies, including advances on
ores, less reserve
Advances to Tooele Valley Railway Company
_____________
166,818.46
/csrued taxo3 Indebtedness to subsidiaries - not wholly owned
- wholly owned
19.338.35 19,388.85
Net investment
} 147,429.61
INCuLS ACCOUNT IT3MS
Cost of sales Provision for depreciation
_____________
other income: Dividend received from Kountain City Copper Company Interest received Miscellaneous incoM
Income or loss*
Deducts Expenses pertaining to nonoperating units Loss on disposal or dismantlement of fixed assets
5,043.54 _____________
5,043.54
5,043.54
_____________
Net income or loss'
| 5,043.54
PNyC00000644
INVTSTVg'TS AND AJ3VfiNCS3
DTTAILS v>F BALANCE SH73T .`JTJ
ACCOUNT TVI'3
' *>10117 owned subsidiary:
fountain City
Copper Company
nd3 t
.act*
not wholly owned * wholly owned
43,000.oo
; - not currant - not wholly owned
- wholly owned
123,818.4g
1,143,281.33
Vfelker Mining
Company
other subsidiaries
not wholly owned
Rational Tunnel
and Mines Company
Park Consol
Mi
862,049.50
784,263.17 731,366.74
915,693.92
441,1
id - current >anies, including advances on
.way Company
511,845.82 166 ,818.46 1,143,231.33 1,393,895.32 1,515,629,91 915,693.92 441,1
not wholly owned - wholly owned
19.388.83 19,388.65
9,949.38 9,949.38
# 147,429.61 1,143,281.33 1,393,895.32 1,505,680.53 915,693.92 441,1
;ain City Copper Company
arating units ament of fixed assets
5,043.54 5,043.54 5,043.54
219,440.10 9,784.58
229,224.66
229,224.68
12,545.54 12,545.54 12,545.54
2,813.44 2,813.44 2,813.44
$ 5,043.84
229,224.68
12,545.54
2,813.44
1.2 1,2 1,2
1,2
1
PNrc000006
AD74HCS3 pICol'l ACCuTO? ITy3
ier
.arias t owned
national Tunnel
and Elnas Conoanr
Park-Utah
Prince
Consolidated Consolidated
Mines Company
tfi&icg Cpapacy
Condor
Cold
Mining Company
Tooele Valley-
Railway Company
Rico
Mines department,
outside
exploration, etc.
Total -
pages 12 and 13
263.17 366.74
915,693.92
441,157.50
47,132.86
4,632 ..29
89.01 ,629.91 915,693.92 441,157.50 47,221.87 4,632.29
119,911.68 119,911.68
2,460.00 203,869.80 219,076.35
51,938.54*
2,123.20 36,688.34
12,378.13 206,429.35 216,247.93
206,349.* 219,076.;
51,938.;
2,809,594.( 43,000.(
1,408,616.; 731,366.' 123,318.2,123.; 36,688.;
511,045.J
12,467.; 119.911.<
6,172,919.'
,949.36 ,949.36
1,462.55 1,462.55
1,462.55 9,949.36 19.368.65
30,600.76
,680.53 915,693.92 441,157.50 47,221.67 4,632.29 119,911.60 206,966.60 216,247.93 6,142,118.78
,613.44 __________________________ :,81344
,813.44
1,037.03 1.200.00 1.200.00 1,200.00 1,037.03
1,200.00 1,037.03
2,613.44
1,200.00 1,03V*03
10.959.44* 10,959.44*
88,057.32* 66,057.32*
68,057.32* 10.959.44*
99,016.76*
9,011.44
219,440.10 40,235.57
9,011.44
260,875,67
9,011.44 10,959.44* 88,057.32* 161,858.91
6,723.77*
6,723.77*
60.71* __________________________60.71*
6,784.46*
6,764.48*
9,011.44 17,743.92* 68,057.32* 155,074.43
J
P*rC00000646
d e t a il s o? iraia n o t a l l o c a t e d t o d e p a r t me n t s
39
BALANCE SHEET 172ZS * Account s receivable - trade - United States assay office Cash - Chase National Dank, New York
. 5i,637,a 2C1,3c*.4 253 , C i.0.2
Accounts payable - trade - Chadbourne, .Yailace, Parke & .fhiteside
- Federal old age benefits tax of New York employees
S.CCi.o-. ______ 11 .1
Taxes accrued - Federal income tax - Federal capital stock tax
- Snployer's portion of social security taxes on New York employees
134,46749 6.105.00
303.12
Indebtedness to affiliates - Anaconda Sales Company current account
interest accrued
107,138,64 3,125.00
- anaconda Copper lining Company - interest accrued
11C,263.64 21,098.90
14..57c.d
131,362,0 27?.25C.i
Excess of liabilities over assets - page 12
$ 24,2o9
INCOME ACCOUNT ITQ1S Cost of sales - General expense, New York office
Capital stock tax Sundry taxes
Leas Purchasing department refund Interest received - net - principally on refund of
prior years' capital stock tax
United States Income tax - estimated
4 54,990,10 7,646.CC 1,536.19
64,174.29 184.20
Interest on debentures and notes payable to affiliates Net loss - page 13
1
PNYC00000647
"T IlftS?.
I N D K' X
25 Accounts with affiliates 25 Accounts receivable - trade, less reserve 31 Accounts payable - trade 32 Accrued taxes 19 Advances to subsidiaries - not wholly owned
20 - wholly owned 26 Advances to sundry mining companies 25 Affiliates, accounts with 35 Affiliates, debentures and notes payable to
12 Balance Sheet - by departments
10 - comparative 16 Buildings and machinery
40
33 23
17 17 12, 13
Debentures and notes payable to affiliates Deferred expenses
Depreciation, provision for Depreciation, reserve for
Distribution of Balance Sheet and Income Acoount to departments
23 Expenses, deferred 22 Expenses, prepaid
Funds received and disbursed
13 Income Acoount - by departments
11 . comparative 19 Investment in and indebtedness of subsidiaries - not wholly owned 20 - wholly owned 25 Indebtedness of affiliates
20 Indebtedness to subsidiaries - wholly owned 35 Interest received and paid
24 Inventories, finished
34 Inventories, reduction to market quotations of 38 Investments and advances 16 Investment in securities of subsidiaries - not wholly owned 21 Investments, other security 39 Items not allocated to departments
15 Lands, mines and mining claims and 37 Loss on disposal or dismantlement of fixed assets
Machinery, buildings and
Metals and manufactured products - finished Mines and mining claims and lands Miscellaneous income
PA"C000006
Notea payable to affiliates Operations by departments - comparative Operations of subsidiaries Other dividends and Interest Other security Investments Prepaid expenses Seduction to market quotations of Inventories Reserve for - depreciation
- repairs - workmen's compensation insurance, etc. Securities ~ of subsidiaries - not wholly owned
- wholly owned - other Subsidiaries, Investment in and advanoas to - not wholly owned
- wholly owned Subsidiaries, operations of Sundry mining companies, advances to Surplus account Taxes accrued Working capital
9
PNYC000006^