Document GBbJjN2Dqw0dgpda9w069EOY

863 OBY'S INDUSTRIAL MANUAL Interest expel Income taxes Net income --I Prev. retain. e| Dividends -- Retain, earn.. Pirn- com. shi Based on 75J______________ [DAfter deprec.: I960, $143,433; 1D39, S100.332. Consolidated Balance Sheet; ......... Mar. 31.'60 S20G.7S3 Jan. 31 .'60 S30S.151 Receivables, net .. 1,115.499 679.433 fEInventories 914,120 1,039.974 Repayments ____ 24.5G0 2S.079 Total current.. $2,200,962 $2,105,637 Directors: Lester Armour. J. II Blshoo. A. T. Kearney. R. C, Shields. D. I'. Jenks, E. P. Brooks. E. A. Lockc. Jr.. J. A. Keley, R. W. Sterrett. Auditors: Ernst Sc Ernst. No. ot Stockholders: Mar. 21. loco. 5.103. No. of Employees: Mar. 31. law. 500. Office: 135 So. La Salle St.. Chicago 3. Net salesCost of sales Selling, etc., expNet earnings Other income_____ Total Income------Income taxes I960 $10,019,091 6.692.617 2.737.833 566.0.79 143.572 712.171 33.000 1959 *8.919.551 6.040,844 2.464.605 414.012 71.584 465,506 8.922 Ho. of Stockholders: Dec. 31. r- 7; common. 2.113; common B, 8 No. of Employees: Apr. 1. w- Office: 7045 North Western i 45. Consolidated Income Account Sept. 30: I960 ' ' Net soles_________ S40.54:.99<; Cost of sales______ 24325,264 Selling, etc- exp- 10.718348 Empl. prof. sh. -- 141.501 Oper. profit______ 5.456.883 Finance chgs.____ 1254,666 Other income_____ 245,044 Total income_____ 6.956.593 Interest, etc.______ 116.137 Fed. Income tax ,, 3.473,659 Net property____ 1.123.632 1.059,255 Net profit .............. 679.171 476.674 Otb. income tax -- 150.145 Other assets 48.614 53.717 Prev. retain, earn-- 4.531.657 4,054.983 Net income_______ 3216,632 Total Liabilities: Notes payable___ Fed. Income taxes. 53,433.228 S105.C69 306,202 241.7S7 239,237 $3,218,609 *104.784 323.632 209.296 215.404 Common divs.___ Retain, earn., 3-31Earaed com. share 211.751 4,929.077 0.64 4,531.637 $0.45 No. of com. shares 1,064.867 1.047.347 (HAfter deprec.: I960, $387,905; 1959, $374,- 135. Sales and Earnings, years to Mar. 31 (in S): Prev. retain, earn-- Preferred divs.___ Common divs.___ Shs. retired_______ Tfr. to cap. stk.___ Retain, earn., 9-30Earn. com. & B sh. 6208.429 15,708 128397 62392 1,942.635 7275.349 ES1.35 Total current.. Notes payable___ Common stk. ($i). Warrants Paid In surplus__ Earned surplus__ $952,905 426.048 735,250 449.566 639,461 $653,116 442.274 752333 500 443.171 727310 1959__ 1958... 1957-- 1956__ 1955___ Net Sales 8.919.551 8.045.550 7.577298 8.538.481 6,354.510 Net Profit 476.674 54.595 140,612 325.818 366,044 No. of Earn. Shares on Com. 1.017,947 0.45 1,038.157 0.05 1,038.007 0.14 1,036.707 0.31 983357 037 No. com. & B sh. 2366,600 ESI.41 on aver. no. of shs. Consolidated Balance Sheet: Assets: Sept. 30.'60 Cash---------------------- 55,517.840 Contract panic. _ CD7.000.000 Receivables, net -- 4,858301 Total ........... . 33,433,223 $3,213,609 Net current assets. 31.203.057 $1,252,521 Net tans. com. sh.. 3_2_._7_1 $. 2.5. 5_ EDMatl. & suppl., lower cost (mainly fifo) ormitt Term Loan: Outstanding. May 20.19G0. S230,- 000 6% notes payable $15,UC9 semi-annually to Dec. 1. 1970. 1954__ 5,960.870 373.884 928.957 0.38 1953__ 5,942--49 462,780 984.112 0.47 1952___ 5.978.025 445.436 984.112 0.45 1951__ 6.270.063 775,905 984.112 0.79 1950__ 4,653357 645.839 984.112 0.66 Balance Sheet, as of Mar. 31: Assets: 1960 1959 Cash & U. 5. sec.. $1,592,175 $1,083,095 Receivables, net ,, 1,104.508 1,181.484 EInventories_____ Prepayments _____ Total current _ Land, bldgs- etc__ Depr. Sc amort.___ Net property____ Life ins- cash vaL Other assets______ 2,409220 123875 $19,909,236 2,081212 581,966 1.499246 24,700 228,616 Company may not pay cash dividends In excess of 50% of consolidated net earnings (Tjlnventories Prepayments after Mar. 31, 1953; also agrees to maintain 1,285,012 74,932 1,057,294 109.880 Total _________ Liabilities: S21.661.801 ~ consolidated working capital of at least 5560,000. At Mar. 31, I960. S250.000 of retained earn ings were not so restricted. Also outstanding. S201.715 subsidiary debt due to 1962. Total current.. Plant & equip-------Depr. & amort.__ Net property___ Land $4,056,627 6,131.533 3,946,557 2,184,981 124,707 $3,431,753 5.650.377 3.587.638 2.062.6S9 141.232 Notes payable____ Accounts payable. Cust. depos- etc. -- Accruals__________ Income taxes_____ _______ 8701.503 810.491 1,973336 1.829230 Capital Stock: Zero Mfg. So. common; par Ore deposits, net . 5L Authorized, l.COO.CCO shs.; outstanding May Patents, etc., net . 20, 1960, 830,250 shs. Inv. & adv. affils. . Officers and directors own 357,972 shs. Other assets (41%). Dividends (calendar years since 1253): 1253, Total 10 cents: Mar. 31. 1220. 220% in stock: Dec., Liabilities: 1960. 3Yi cents. Accounts payable. Has one vote per sh., with right of cumu Accrued tax., etc-- lative voting for directors. No preemptive Income taxes_____ 221.123 36.452 517.335 97,205 $7,238,430 $350,384 277,181 33.000 232,766 44,609 540,449 215,405 $6,558,903 $272,029 245.247 11,000 Total current Note payable_____ Def. compensat. -- Contract loss res__ 6% pfd. stk. (S25). Com. stk. tSl)____ Cl. B com. stk. ($1) Paid-in surplus___ Retained earnings. $5.314360 4,000,000 45.600 374.146 224,400 573,320 1.793280 E2.081.148 7275319 lights. For div. restrictions, see term loan. Offered (200,000 shares) at S10.50 a share (proceeds to company as to 123.GOO shares. 59.66 a share) on May 20. 1260, by Shields & Co., New York, and associates. Transfer Agent: United California Bank, Los Angeles. Registrar: Security-First National Bank, Los Angeles. Price Range: 1960, lOM-SV,. Stock Options held by officers and employ ees at Mar. 39. 1960 on 63.S72 shares at orices from SL6? to S3.97 a share expire Nov. 11, 1964. Total current-- Com. stock (81) -- Capital surplus ... Retained earnings. $690,565 1.064.867 483.921 4,999,077 $528,276 1,047.947 461,023 4,531,657 Total 87,238,430 56,568,903 Net current assets $3366.062 Ne-t tang_. com. sh-- $6.11 E Lower cost (fifo) or mkt. $2,903,477 $5.72 Note: At Mar. 31, 1960, equity in sub. net assets and assoc, cos. exceeded carrying amt. of invest, by approx. $282,000 (1959, S1S3.U00). eipapital Stock: Zonolite Company stock; par Total _________ TS21.661801 Net current assets- S14.594.676 TLower cost (fifo) or mkt. njPartic tracts sold to finance co. SFrom sale : addit. com. shs. Term Loan: Outstanding, Sept. 30. : 000.000 6notes payable 10% annua 1, 1966-75. Proceeds for expansion an 7~r>p capital. Company may not pay cash divider cuire stock excent from consolidate; come after Sept. 39. 1959 provided or dated basis working capital equals. 200% of funded debt and net tangft. ZONOLITE CO. History: Incorporated in Montana. Dec. 1, 1922, as Universal Zonolite Insulation Co. Pres ent name adopted Jan. 1. 1943. Merged Caro lina Vermlculite Co. Sept 14. 1955. Merged Southern Zonolite Co. Jan. 1.1957. Business: Principal miners and processors of vermlculite. a lightweight mineral used for home insulation; lightweight aggregate for plaster and concrete: acoustical material: fertilizer conditioner; carrier for various chemical compounds; home gardening; poul try litter, etc. Trade names: Zonolite, TenaLite, Z-Crete, Bio-Crete, Insuipave, Sani-Flor, Mono-Kote, Spra-Insulation. Z-Tex. Ore de posits near Kearney, S. C. and Libby, Mont. Also franchises processing plants which are licensed to sell products under Zonolite brand Authorized, 1,200.000 shares: outstanding. 1.064,867 shares: reserved for options, 5S.595 shares: par $1. Dividends (calendar years): 1945-48 *0.05 1949___ $0.10 1950-51 *0.15 1902-56 0.07'i 1S57-5S nil 1959______ 020 I960-.. 0.15 Price Range: 1960 1959 1958 1957 1956 High----------------- 5% 6'i 45a 3% 4ia Low------------- 3!i 3Ts 1% 15a 2 .Transfer and Dividend Disbursing Agent; City National Bank Sc Trust Co., Chicago. Registrar: City National Bank Sc Trust CoChicago. Stock Options held by employes at Mar. 31, 1960. on 52340 shares at prices from $1.90 to S4.75 per share. ALD, INC. at least 200% thereof. Company amaintain consolidated working cap-'-, least S7,000.000. At Sept. 30. I960. *3,1. earned surplus was not so restricts-; Capital Stock: L A L D, Inc. 6% cur preferred: par SIS: AUTHORIZED--All series, 80.000 shzr standing, this series. 8,976 shares; par PREFERENCES--Has preference icr and dividends. DIVIDEND RIGHTS--Entitled to cun dividends ot S120 a share annually. quarterly, Jan. 1. etc. Regular dlviderDIVIDEND RESTRICTION--See term VOTING RIGHTS--Has no voting pew cept on default of 4 quarterly dividerpreferred is entitled, as a class, to directors. Consent of 66--% of preferred rec-- History: Incorporated in Delaware Mar. 20, issue eaual or crier stock: increase - Properties: Operates 21 processing plants 1947, succeeding Automatic Laundry Dis preferred or ecual or prior stock:., located at Chicago, Utica. N. Y., Dearborn, tributors. Inc. terms adversely: sell substantially -- Mich.. Travelers Rest, S. C-, Trenton, N. J., Nashville, Little Rock, wader. Ky.VNew Or Business: Company is engaged in sale of automatic laundry equipment and servicing or merge. _ LIQUIDATION RIGHTS--In liquida- leans, La., Ellwood City, Pa.. North Billerica, installation and operation of seif service titled to $25 a share and dividends. Mass., Kearney, S. C., Kansas City, Mo., St. Louis. Atlanta. Ga.. Jacksonville, Tampa, Boca Raton, Fla., High Point N. C. Okla homa City. Okla., Muirkirk. Md., Birming ham, Ala. Research laboratory at Evanston. HI. Mines at Libby, Mont., and Kearney, laundries. Property: Owns 2 buildings (22.500 sq. ft.) in Chicago; other office and warehouse facil ities at 44 locations are leased. Subsidiary leases two buildings (103,000 sq. ft) in Dal las, Tex. PREEMPTIVE RIGHTS--None. CALLABLE--As a whole or in pa-^ least 20 days' natica at $26.25 a share -- dends. 2. A L D. Inc. esmnon; par 51: _ AUTHORIZED--COO shares: outr. S. C. Plants operated by manufacturing distribu tors located in United States i$5). Canada (7) and foreign countries (S). Subsidiaries: Company owns controlling In terest in following: Vermlculite placing Co., Inc. ComDany also owns 33% of outstanding com mon stock of Western Mineral Products Co.: 231/3% of California Zonoiite Co.. Los An Subsidiaries (wholly-owned): Cock Ma chinery Co- Ir.c., ALD Canada Ltd.: MeterAll Mfg. Co- Ir.c. Officers: L. C. Strite, Climn.: F. E. Ross. Pres.; R. R. Eafiey, Exec. Vice-Pres.: O. G. Andrews. A. A. .McCariey, J. D. Keisser. R. M. Bates. Vice-Pres.: F. J. Wright. VicePres- Sec. and Treas.: G. E. Grimson. Contr. and Asst. Treas.; L. R. Davies, Asst. Sec. 572.320 shares: reserved for conversrc- D common. 2.4".O.C'.C shares; reserves tiors. 423.4C0 shares: rar 31. L. C. Strite ewas 127220 shares (39.6 VOTING RIGHTS--Has one vote F%. with right of c-arr.'-aarive voting tor cLIQUIDATION RIGHTS -- In hg'-a. shares ratably w-.tr. class B in osf--.pnvment on nreferr^l. PREE.'UTTrvZ RIGHTS--Mono. _ .. geles. Cal." and 75% of Texas Vermiculito Co. Directors: L. C Strite, F. E. Ross. R. R. DIVIDENDS--T;. -IS cents; Mar. lo, - Officers: A. f. Kearney. Chmn.: J. A. Kelley. Bailey. O. G. Andrews. A. A. McCariey, F. J. cents. . _- Pres.; R. vV. Sterrett. D. L. Prouty. D. J. Wright. G. D. Patterson. DIVIDEND RESTRICTION--See tcJp- Boone. Vice-Pres.: W. J. Betn. Vice-Pres. and Auditors: Bouiay, Anderson. Waldo 2: Co. TRANSFER AGENT--Harris Trust & - Treas.: J. If. Bishop. Sec.: F. W. Rupp. Contr. Annual Meeting: 2nd Tuesday in Dec. Eank, Chicago.