Document G69gDD06nqojYLQX9eR9aN6Ym

Highlights of Annual Report, 1950 SALES--Total for fiscal year ending October 31) 1950, was $188,607,965.92, compared to $160,143,275.90 for 1949- This was an increase of more than $28,000,000 in sales with an inventory increase at the end of year of less than $2,000,000. Unit volume of production and sales was'more than 20% above that of any previous year. PROFIT-After taxes and all charges, total was $8,561,660.08 compared to $6,191,923-16 for 1949Profit per share: $4.11 on 1,971,623 shares, compared to $3.23 on 1,780,536 shafts last year. NET WORTH--I ncreased during year from $56,837,492.20 to $66,194,159.66. This is almost DEBT--At the end of the year, the company was free from bank-loans and funded debt. PLANT-During the year, $2,632,692 was invested in plant additions and $2,377,833 was spent for maintenance. New $3,500,000 soybean processing plant in Indianapolis completed early in 1950 brings to 37 the number of manufacturing units operated by the company. New titanium pigment plant expected to be in operation in March will more than double production of this essential white pigment. PRODUCTS--Heavy demand continues for products of all divisions. Paint division had record sales and profits in 1950, spearheaded by the new washable wall paint, Spred SATIN. Durkee Famous Foods and all other divisions showed gains over 1949. Company policy of diversification and of producing our own raw materials has proved profitable. RESEARCH--Activities in all divisions, which have contributed so greatly to company growth in the past, show great promise for the future. Our Soya Research Laboratories have made remarkable progress in the development of hormones and steroid compounds from soybeans. CONDENSED CONSOLID ATED BALANCE SHEET % Assets L2s2_ Lr iu<*a *es . Current Assets........................................................ $54,037,130.91 Other Assets ............... 2,702,112.19 Property, Plant and Equipment......... .............. 26,922,041.86 Deferred Charges ................. 649,968.61 Current Liabilities ...r................... ................... $15,617,093.91 Reserve for Contingencies ................................ 2,530,000.00 Capital Stock and Surplus....... ........................ 32,695,565.90 Earned Surplus .................. 33,498,592.76 Total Assets . ........................................$84,311,253.57 Total Liabilities .....................................$34,311,253.57 CONDENSED CONSOLIDATED PROFIT AND LOSS STATEMENT Net Sales ............... ..................... $188,607,965.92 Profit Before Taxes on Income .... 14,437,660.08 Taxes--Estimated (basis, new tax law) 5,876,000.00 Consolidated Net Profit................. 8,561,660.08 GL DO 11 378- ( .1 I Dc 12 1950 / l i i i f s Gl Oq *1 ton* *_ IINTCO t* U.fr.A. CONSOLIDATED OPERATING STATEMENT THE GLIDDEN COMPANY - CLEVELAND, AND SUBSIDIARIES pain t d iv io io is t h is y ear LAST YEAR THIS YEAR YR. LAST YEAR FOOD DTVT3I0TS THIS YEAR MO. LAST YEAR , THIS YEAR A YR. 2 LAST YEAR CHEMICAL ATB PKaiEHX DIVTOJOIS (1 THIS YEAR T MO. LAST YEAR THIS YEAR YR. LAST YEAR VEGETABLE OIL nvr'.ioir, THIS YEAR MO. LAST YEAR ^ THIS YEAR YR. LAST YEAR FOR PERIOD ENDED SALES 5,112,6hh. 73 OCTOBER 31- 1950 --------- --- ^* * GROSS PROFIT % TO SALES OPERATING EXPENSE % TO SALES 1,692,061, llx 33.10 1,116,1x32.16 21.8h 1,67),,101 ,0? 1x8^876'82lx, 1x2 1 ,282,255.1x8 Hi-90 16^869^822.3h 3U.51 966,7iil. 1 2 10,01x7^176.33 26-11 20.56 iiO.278,11 5-11 7,63L,'612.17 11,980,807,57 29,7lx '957,278.72 12. 5h 8,789,71x0,68 21.82 709,155.03 9.29 6.886,117-01 81,703,210.10 77,1111,581,69 1,858,978.13 1,111.1105.15 16,271,053.83 8,81608,119,10 10,969,006.80 10,06i ,596,11 '359,110.15 12.95 13-.Oh 19.32 )(668.1x56.52 K58>?8 2,516,037.38 15.1*5 617,651.1x7 6,h82,U30cU7 5.827.011.87 58,818.5h lx6.721.0lx 628,19lx.60 8.97 7.65 7-55 3,16 licl2 3.86 11.101.515,28 3,332,883.82 216.1x90.7S 2,09 538,673.80 16.16 506.151,32 211,628.86 hh8 6.35 2.127,619-95 1,1x11.21x2,11 61.-58 1 l!x, 11x7,1x2 5.77 33,126,537,35 3,b61x,636.02 10.U6 1,625,198.01 h.91 26.195.092.78 li.806.li77.72 18.-15 1.11x9.599-91 5.15 NAVAL STORES THIS YEAR MO. DIVTSIOTS^ LAST YEAR THIS YEAR ^'LAST. YEAR 1,107,130.36 1x99,815,1x8 6,l9,53833 5j87?,7l!i, 87 AnjCITVECT OF: MARKET RESERVE-1950 LIFO RESERVE -19h9 THIS YEAR MO. LAST YEAR THIS YEAR YR. LAST YEAR * -o-0- -o-o- TOTAL AIL DIVISIOI3S THIS YEAR MO. LAST YEAR 19,01x6,2119021 Hi ,521.258.81 THIS YEAR YR. LAST YEAR I89,38 7,l6lx. 03 160,78!!. 261 ..?5 76,103.22 6.87 156,916,92 71,1x1 920,659.27 lit. 36 981,255.20 16.7h (160,000.00 ) -o- (1.100.000-00 i -n- -o~ --o-- -O- -- 3,1x63,227.03 18.18 1,912,117,09 1117 3lx'7lxO',l6l.8l 18.3h 23,068,627.60 17-1,6 52,125.12 21,199.9L 350,875.77 2 38.115. hR L.71 lx.63 5.h7 lx,06 -o- -o- -o- -o- -O- -o- 2,lh8,l59,71 11.28 1,783.862.99 12.12 19,133,875.18 10.10 16 .710 321 .23 10.19 OTHER INCOME DEDXTIOIS - SET ^/ "-3S /l,a IV j a 7j T?x> GURPL1E ADJUSTMENT DIVIDENDS PAID TORONTO NTT PROFIT BEFORE ESTIMATED FEDERAL TAXES LESS `DOMINION TAXES ON INCOME LESS 2. N, COLLEDGE FEDERAL INCOME TAXES LESS ESTIMATED FEDERAL TAXES FINAL NET PROFIT NEMO - DEPRECIATION AND DEPLETION IN- THIS YEAR MO. LAST YEAR THIS YEAR YR. LAST YEAR THIS YEAR MO. LAST YEAR THIS YEAR YR. LAST YEAR THIS YEAR MO. LAST YEAR THIS YEAR YR. LAST YEAR THIS YEAR M3. LAST YEAR THIS YEAR YR. LAST YEAR THIS YEAR MO. LAST YEAR THIS YEAR YR. LAST YEAR THIS YEAR MO. LAST YEAR THIS YEAR YR. LAST YEAR :<n THIS YEAR LAST YEAR --_i i c g LO011381 *v THE GLIDDEN COMPANY - CLEVELAND, AND SUBSIDIARIES 2Q ITO C riD I ^wiijwLiynii;L' uf Li\n i mo -> i /n i l i v i il r< i THE GLIDDEN COMPANY - CLEVELAND, AND SUBSIDIARIES CHEMICAL AT PIGTSi?T ot vt r t ons . 3T. HELENA TITANIBM EXPANSION ' MAINTENANCE EXPENSE GAHAND COLLINSVILLE LENOIR BARYTES MINES HAMUOND SCRANTON FOR PERIOD ENDED SALES THIS YEAR . LAST YEAR THIS YEAR YR. LAST YEAR THIS YEAR MO. LAST YEAR ' 1x36,1x58.55 976 561 . 7 671.30 3 ),39.51L35 THIS YEAR YR. LAST YEAR THIS YEAR MO. LAST YEAR THIS YEAR YR. LAST YEAR THIS YEAR MO. LAST YEAR THIS YEAR YR. LAST YEAR THIS YEAR MO. LAST YEAR THIS YEAR W'LAST YEAR THIS YEAR MO. LAST YEAR THIS YEAR YR. LAST YEAR THIS YEAR -MO. LAST YEAR THIS YEAR YR. LAST YEAR THIS YEAR MO. LAST YEAR THIS YEAR YR 'LAST YEAR THIS YEAR ^'LAST YEAR 200,502.82 83,507.61 1,71x3,738.50 977,89.2.91 259,250.51 165,015.16 2,512',223.96 1 3k90.219,00 -0-0-0-0- -0* --n-- -0-0- 836,66Ix.l5 55l.5l8.1l. 6,582*7Ui.3L Ll88.382.83 126,102.10 5l-.Rno.77 986'675.76 1,207,506.19 OCTOBER 31. T950 GROSS PROFIT % TO SALES OPERATING e x p e n s e 17ii,026.69 96.J|?5r5n 1,1x19,596.03 76/ .790.1-6 39.87 ii.. R? 31.93 ??. 03 15,223.23 in 739-9? 167^965.711 H0/773.6-? 52,366.07 1.)i R0.70 308,102.3L 09 Q-! 1 .17 50,535.52 18,071-05 39Uili87.1i2 168.187,09 -0- -7- -O- 26.12 L17 17.69 8-78 19.51 in. 95 15.70 n .29 -0- -0- -0- -0"**0" -0- -0- 65,1x1x1.65 7.82 r76L .695.61 V 178.15 ) 300'081.08 L56 (762 J:91.981 '18.20 i 16,690.22 13.23 (21 T 7uO,, 16") '39.67 1 93,1x70.51 9.1x7 d9.Sn5.96') (1.6ii ) 10,51x5.56 6.991.72 107,305.31 90.007.iL 8,91x8.65 6,959.08 97,727.31 . 69.755.37 -0-0-0-0" -0- -0- 17,305.87 17.871.02 197,1x19.60 181 .579.1-1 6,795.23 li.113.76 57,71x6.6U 51i.C75.78 % TQ SALES 3-1x9 3-90 3.78 3-2? 5.26 8.37 6.15 9.20 3.1x5 1.1.22 2:8 -0-0-0-0- =0- 2.07 ? C3 3.00 L33 5.39 7,51 5.85 U* i-li3 TOTAL THIS YEAR YR. LAST YEAR THIS YEAR MO. LAST YEAR THIS YEAR YR. LAST YEAR THIS YEAR MO. LAST YEAR THIS YEAR YR. LAST YEAR THIS YEAR MO. LAST YEAR 1,858,978.13 l,133'i;05.35 16,271,053.83 11.303.535.28 359,110.15 19.32 (66B,li56.52) f58.98 1 2,516,037.38 15.1x6 236 it90.78 2.0? THIS YEAR YR. LAST YEAR THIS YEAR MO. LAST YEAR THIS YEAR YR. LAST YEAR THIS YEAR MO. LAST YEAR THIS YEAR YR. LAST YEAR N %10_THlS YEAR 58,818.5L L6.721.01- 628,19lx.60 506.l5l32 3.16 Ll2 3.86 Lu3 CONSOLIDATED OPERATING STATEMENT I > 1z 1 co -4 ' >-- cu 03 o !z SQQCfOA <(CMmM RrCHM 0c3j Rr M 'O H ' ^ 12 Os `.O4 O.wsaOs i rl r-\ YAr-t CM r- trt O O CM -4 tA R(A RR , ~r;i Qz 6 3 <4-4 Os Os 1 * 1A UN *-n fA Qs i *2 a O CM rt A (r^H 0-3 rT Os ^< r -R4CRM CO c co -d 0mS0c a o -4 .-4 cry sO 3O3 cOm *IM4 03 o -Ods r< CCMJOHJ A r r^ rHA iCrMi IITs-- -4 -C4M O Cf-MS CA S CM CJ <M Os UrHN CM NVOO rN Oo C#MN vO * CO so rH O CN rH rH rOs -SdO Css$ r-- SO -CdJ CUJN OfT' O CoO r- r-l H3 rH r3 rf\Nj rrHj Os H os _d UrHN 0-4 rH O CM ffs'-.CcN'- Ct UCON rN r- rO U3 K3 UcoN rt CM rH CM s CN tit rH--U 0.0s i-HfA u\ s A a CM NO rN O' 4 A- Os i UN O' 4nO rH H Os* r-S o CM rH<-H OrNs H 0-3 rH C\( ON rrH- -s--d- fN CM 0NO3 SiHO CJ rH R 3A* lCVM S U4 03 rrH UN i*\ CN CO OH A- )0 sO A rr dr rH un OrHn uaos ^o -O4\0m3 0 1 srHp'srNO i o ( Cm #-H -4 CM UN t^- C4M CO <M -4 NO nO CJ 3 ns <A -4 r*1 ^2 VscO 8 fA O OH 0rH3 UrfHAN MrH3 fOA co* El- U-4NcfoA <MOs; JoOfA! 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A to ACCMCn] 41 41 O 1 </> rH rH t- r- S7 f V Cs a CA CA o> K> r-j r-j 3 A ' -35 T1 t co O t- I OI nvfclro-Hh \nA oi co 1 nn CO Os cn | .3CM O OWs' m1 t V r- Xc m'i wc m 6 b- I "r- T ia h s o c a c m so in J Cm O0.OH rCt "MO >2-3 *p 5:1-H Q-3T) cefl 'tijJ ' *9 JO *hJi CO I U I OC 8(0P. d P.^ g CPX.>> PP. PO.. CCXX Qca r-j O O O +> *3 OO C C eO O oE oB oE M dw O O O C ft) 4i aco e 2 <H O ft) a) a. Ok c ft) ao 4-3 cc "H ft) Pw- 2t j c ft) *"D0 c t) 'toj *H (--I -p o rl w^ se 4iJn /--i H *H H *H a) HHH O H O CH H H OOo --3 g o ' ft) i ft) ft) ft) r-l u fC 53 JS -C jC t 3 4^ < fUl).t? 2e S 3 12 E+Wo9 u ,F0 h 4P3 HWO M O A* cooO W a *3.n9H.HJS.oPS ' n h Q ft) H CQ fc3 4) M Wrj PO M^ THE GLIDDEN COMPANY A ID SUBSIDIARIES -3- a d v a n c e s , in v e s t me n t s a n d UISCnLiAkEUba ACCobb'ib RECEIVABLE (CONTINUED) American Cyanamid Co. - Soda Ash Loaned - To be Returned St. Helena Phelps-Dodge Corp. - Mfr. Charges Less Deposit on Motor ($332.00) To be Refunded rr Neo Smelting & Refining Co. - Sale of Cadmium Lead Residue t! For Cadmium Residues Known as Lots #357 and #358 which are to be returned to us in form of Cadmium Metal n Morse Bros. - Purchase of Two Plane Tickets for Morse Bros, to Fly to Winthrop Properties Coronado Copper & Zinc Co. - Electric Motor Sold from Bully Hill Mallinckrodt Chemical Co. Dave Meister Standard Oil Co. Socony Vacuum Co. Thompson-Hayward Co. Blackwell T.rielandy Co. J. Marshall Thompson Oakland 11 Collinsville 1! n rr ti H 11 Lever Brothers Armour & Company Staley Mfg. Company C.B. & Q. Railroad C.M. St.P. & P. Railroad Rosenbloom Barrel & Drum Co. Illinois Central Railroad Southern Pacific Railroad Pennsylvania Railroad George Sirota E. F. Drew General Chemical Company Hooker-Electrochemical Company Malinchrodt Chemical Works McGran Chemical Company Skelly Oil Company American Compressed Steel Co. Bag Service, Inc. Indianapolis Union Railway Chicago-Soya 1! 11 II 11 11 It n n n n tt n ii n tt Feed Mill It ti J. Solotken Company Dealer Co-op. (Detail Available) Feeder Contracts Alsamite Paint & Varnish Co. - Toll Charge It It 11 for White Lead Manufactured Allison, Steinhart & Record Blaw-Knox Co., Chemical Plants Div. Drackett Products Co. E. F. Drew & Co. Falk & Company Haaky Manufacturing Co. Honeymead Products Co. Lever Brothers Euston Lead Ind. Soya It TI II 11 tt 11 11 THIS MONTH l a s t mo l t h $ 79.65 $ 79.65 20,bl7.53 6,105.27 11,105.82 -0- 13,695.95 -0- 52.22 216.30 U2.70 15. U5 8.00 8.00 100.00 2.91 551i.6l 13,950.00 2,250.00 675.00 20,250.00 5,213.10 25U.68 5,200.00 5.80 73. ho 1,2a.81 225.00 750.00 12.00 30.00 990.00 Uo.oo 16.00 320.50 70.21 12. 90 2li. 90 315,772. 83 1,750.00 720.77 hhO.hQ 100.00 900.00 125.00 9.80 100.00 100.00 52.22 -o- 21.00 -0- (6.00) -0-0-0U,012.78 13,275.00 1,800.00 2,025.00 -0- 8.10 -0-0-0-0- -0-0-0-0-0-0-0- 21.52 2,5148.25 -0- 22.25 296.50 270,U61.28 875.00 -0I4I4O.I48 500.00 1,200.00 -0- 9.80 100.00 2,000.00 GLD011389