Document KG0LKE9eGG0gJDZMbpzkyEXEN

fvcemmsl is* iyr 1$ ot tt - |!s Kek0are\*.c *f 1^* ` *' c for $& yiiwal twr t&ide& 'vciWWr JL, 1951 ** ' . *S* \y* - **- V* * - > .Xf-'v ';.': X:. Xv - ;* \ VXX-XV' XX V'' ' ' y- X X. ' .,. X.-.X .' ' : X' ' \ XX: X' V. * ** - - ?*XXXX:Xy#X -. .'* * ^ : . .' ..?** . >- -" ::/ *: ... .*'*' . v .> .._. .;'. ~r ....: -. ,:* -" :' ..v.,.,:- '." r ` ' '. . : . .^ .; /. -:' '*" . .' . ; ' ' ' '-. ^ " - . \, V. , ' : - ~ v,/- ; - .v*;.- -. . . -- .:: ' .i' - t . ' ." : .*,, emu aatiiw, '( 'K. Y:>- - : ' -- rr-fty- y-?- vv:"; : v . :-'< . ...... . : .>'v v'-f r .; .r .* : ,'. . :H ' "' .. - .- : ,_\V . . . r... : ;-.. : > ../- .: .. .: - . jt......tt).................. .......................... 'W................-...... .... ....................... --..;..... 4 ... u,........... ... ....... .. ........ , .... ... ...-*.. .... .... --. ....y .......... f3U of ` the *** f r eeruritlos ttrwS*vm& i&tieG* ,L ` ' rer.if.r.t.e..r.e..d. ..x- .,, . ,, - a..f...... .xxx.,... v refflgtersd. 0ar.A Xtoefc, witivmvV ?*P91.JW * T*r Wu ' '` '. STehanc* - ", . Ititiw . ' ^ "(a.ral &d .ubrldlttriofl of, * '1 - ^ f ..... ......... ............ ....... ......... .......... .................. ... ........ .'........-.Start*. f,,TM.............................. ....... . -r uy " 3*&E2gSSA& , 01:6 .'lHtJdur. *'*^*i* (X)* U> .................... ntiifls JXoridsk. ` fhe,iysolir. C5w-ltv (?) ........................................ "yt'cst rcectacy c.f 1 Hir.,oit* (U; *** _ illlrtei* Ottri:* J'wawvi* in*. (P) ..#... . illi&oi -JatfiTfcifliKvS'll.* -S'reeftSHvJ1^.C&-*hw!^'- '**-........x/loyMt*-,-.. .'Irftvi.k *`rot1iiefc lou r&jf (!5). **.* -*`46151*81351 -11 ,* -j .1 50/ *0/ '' v 'wHin*iiii>li>w (13 Active . --, ., '. i i i.:, '.v.-V'.'.;' , >* . 1 ;,v y ";,.'-T'-v..a .'' * ,-i '-';,Y*'.w-i**1 ;:.vr:>". vvV. .;.'S--~:.x`:'v:..; ' 1 /!.: :1 it-eluded I ? -towool idaited f'i $ki.r 1 w.l ei.-s,<>*wriiv (?) 15**4"V*V6 *u Tm* d 1 ?i trs i rt-e lusted 1/. &3.1 sfet.l.eKeftt.B* ^ (;) - .c.ti'?"- v* 4els ? 'ir-1 *.nt l-4stn iachrfett J snjr fr:;n ' or e4*oli4Jite^ .'.te'.'WMVt< a..!i fn." viich are i-^l flle^ <?>*. arrat u(8et of,,:n s.OB-s-lid&t*d. f or. vhich otstwe'wat* >,r* -- t filed cwfl 15,.'! of tnt iotti aivy-ate of- roplotr^wat i*<3 ite ccr Eoli*!&tpfi is )k k i V fc>- =.800 J V". t-. U f*,' rt. `05m svrprwjTiat* K*li>a&n4rfVirioft^j r :.ot exceed 15"' ol i.ho -VH4i=-.r*jt;it-*8'8t`"a M 'ilv <>siwl4/a.t*Jt' .nutssH'-irl8 m hnl-. retw^-so of -vU aac';-- rws* revrtS9 of , by- "it** '-ejris'trkot*c c/o 1 in&*&& profit tmti love filed t '-is. --^T'ort,, lifisiJ* >{-. t^.a S*eir-ftft ."br*,-ver* fatoriull- fw-ertfnli - i,.^51 :. . ,Vh - . of th. : ?*#$ trHi*, tni flac.l vt#-.BU"NSdi*rie*- "Hap xx-.:.,. ------ -------- ----- --- . , , ?' wre" a wterift4.IL;' tfwnertant '4evelC;*K*f^R' durlMt 'tise fioo&l y*&r -fto'fcer "1, l^l 31'<*) mitori?11 >it. f.i liKil `j**cfte<3 f^ra -'f ft - rt.iz.re*r ter refliilresl. !<- rteocri'bo-.l .-. ...1. j.-licatio* o-i '.iirs' 1C or xt> , rBstrt dc.;/s>T8: -. .. . -a;-...-. - .. ''^-wr^xws-x;. cisfiil .` af dtraotr ar^iffSeter vt&rl&jaf ?'. tojnc* '*. J-;;c CJlft^r. >' ^olV. <wplt# wUl^g ____ rnmm^l___ <; *- V1 ^ " ?&ttW iaekV ** V :V < j \&f> Haim Gmmov^^lteisg, lerlsd, fJiio - -.- SSlil ^ <^'t1^2eftrst at .Jirte 4d SaaetttSvfe ZarnSL't1' iscatit* -effS 17?"^ jJsiiiz-?, Csaswsrce WliSSi'i * .^irocsor* President *t& Cle**l**s'f 'tlUiW"-.. .............................. ,- ` - ' 6^r at '$wml\im * '' r 11315 i*8& .am* ClerolAad* Mff Glroet&r '4a 1 "j v j j !?i. 1 Yfi '-*W< Ctosrt-'Mrc* thiildi/yr ^Uvw/iajjiiU -hie- 2irefcr Vice I'rs'iMeat, &r4 washer of :-xec**tSve Comittce 'n!,"J3 """ ''3iS: tr"a mms'* **"***"a >*. .- r.-S*r-Wl#w,- <*!i standv tloww.st*.;' '. .^uues* Ill'll "WiteE vfritfiiA, Mo Um4l V, .:l*iua'.' . 1*03 ft. >0l% Vtrasi'1 Hostwat^1 Ji'-a?, V. v Uj 1% c3> X.*rmrc* ?ai id3 . $[ ;Ol#T0l4MM!l*"*%*%*- .\:;v.. - ^v ^"r ,3-i .rf'..-' . 1 .?>** . v.i i-.r .Cormerce 'Sul LdJaj? OloV^WnST, YSO . HikiK >'l. 51fl . . ... ..'........... C. iC<Mrv/JlllJ-0' ^ %V?.V(?. vVt 1*0*' 1 !;`/i '.Ui'TVil CotiBcrow $*tid`.op ' ' :"hi ; ' : Vico "'r:. fiesit ' . ., . .*.. *, ....... ..< ... ^.'.rt.ctc.r *mS Ti-ce :reSdoct "ir stress iftoat . .S f'ir*Kt'.-r, '' fJco ?r<?6-ldant - s.< rjE9'l>cr of,?*sc*sir Ccs:l it* * M rector itad (WE.-ar^I TSiiec i'axrtiictt . viroetor 'refiSfJfcS-t J'ectf'f, Viet* ^e`-ir.t 'raasttror, Rc&'bf.r f ' 'XW. tiva Cs'ftnittee Vice :'re:-'efit '' '?. ; feiic*j*.;' ' 7:>;- # Vu v, C fiiajrit, 1 ' :rt i v r Cor,rre\?j $ l U t'-^ -Glve'lAod.Hlo ' ,:iy96 .'`dwic.rt. ficwwtwByce'. C'lsv 1 *i<J t h5 o . llOi'f.l l.v*nae ^le^aluriiS, "Vile . i*etor -:vfto C(u. tr;`..li tr a j . i nS rtf`.",v n.t*si. .6* ...ss^r. r. lav* -.., > t %h* &M stfftttr* of %& Cwyaay, errlag i, .e$M*iti*ft fri **Mmr % j*gatr 1V19<&, Mr, S, ** * mMt$t9iM?U* ttm " of Its SU<IA* C*j*wy t& *ats t loi** iTMreto*"*ad?tWM!rr ,,* ? Hr. $. $ fc#naw *ati*rC Ws* h$3#j f th SfUiAwf s Softool ` 1#,- lWr: w'jfetivMf1 *Wr 19ft# 'fcr *letdi*es*t*&t 'stHto**. dorps** &Ed e <#30*% 10, $& 3 & looted g*srtta*T ft? tlw Cows ,t plwse Mr* Clifton 8. tort i& retired wS*a* t& yay*# Mltrewwst1 ; ^Sto far &i*?i iMj^yoos. ?tl6r-ta Sir* vith the r**| i*tr*nt, tut w <8]pli8jr# % tla <kre#fi* ftwifi^nyissaa fte ,;-*&***to, $**r$l* _i*rriftfjr e w& oeeietant to tb* tic lrld#Bt ai &M*rtifyr *f , ,. * <............................pj.....^-v Vv, ^.: -:y ; tiV'.-'PoH ?S^eOB. *ntrd! tte -jkssjis^x' " >, lfte* 0o f*Taru*ry ft, 1951 Saw was appointed tle*if*idat`ef f&e f?IiMa- i "-'V' ;.;-0ea<MV,-. For e the. 12 ysr* !^lor.t^ r**treat, K# ttm wstloyoft % CorfUl* See., Mtauta&iU*, msmrn^ta, *r*fisc . & as tie Pr#54ot of ttett* $Na$tttqr* ' - JimJU' - - for t&* fiec*l jrw sated ctb U, X$ft9* , ................................................ .- / /. ' 's-.A&ta af l5'iSiri^ua,l 4 . Capfteity S imicfe '^airo^iiirot^n: )i9*;5lt*earw* W-r- ,*%;......... ~ ' *. -'. -- --C&W- Agfre^t* Tp? vrv,-.,. af CWEfftSy * UjMlor - r. .v,..,.;..-; , . ' ,UsBsai; ? Ve poyafelo in -'t-h7 e. . .'rofTtt -.: r*f ' aMaU*i '.i4rlaa Je^c' \s ;i l:;: ? ;>' Shfei.fssfe:; -?f Ua Xa^d sa\d . -,,-CM.f ;aKeatir .(iffloor' .: - : , f;^'-is4: MrW'Ctor /JrTi;Vv T-.'-'. v' $100,6>3^*-90 . icsao s-OR* `Otrlfftet J** kyee j"r*aJ.dftt &i!s.d s?js*gr tuA Sirootoar is5.^56iae(^>- $6ti3b.M CHfton tV V1% - :r'nior Vie ^rsfiHeint *ss^ 'ilrejeter ' ?ihn6.6yT Xaul tip>rswtje tic* 5Vwfft*t*t wjii Mrflptcr rtp,550;0O 7,#5<sfe,oo >?i5.oa ^ *50.16 ' ` H.CAO.SO ;lJ^:ill,#i;ljwrf V ; .:'\V, X-v^ ?5c jV*sidftt-truKfiregr jsu.d '3X?tr _ ^i^O.OO 4/t3>.i; 7% Gratis x;: . .%.\?!riitftaiist" .*4'. -pi'rtte***';; 5900t:)- 10,123*00 ?,?f9*00 U^OOO.SiO l, 11*0^0*00 " Cavity in s&idh lejaeleedU ___ r :jW: ! ** ''.,'V^.t?: ; r.-:^- .'-'V:*V-j-'i! t`->' ' r:,; . ' , JulvxmSo^ 2* %astt ` - flee President *ad SHreeter : ' *1 1 hooter B* Sefcaold ,' &sr*3L Kfele lead I Pjrwtiaeie -T&iviiieis &&& Director M'Q$Q.W teilaatcS to" r "viSMSii'V^ SttXtth G*-Sel*ei& ' Tice ^resident Sk&d director 4c.594.oc All direeter* sd ejffiew# e th&e& fim& utoro) 6y>*m*yt(o) ' . '''',> 5 ~4 ' _............., .... .-'" -................. w,eo7*o H6.nx>9\& <tt) "She ir,'oreU& Kive Je this column es % off}ere eurtleir&tlsg let' the etiressoRi 7Lu la based e the a^uBptleft tiul such officer* vlll eesllrste te rew)t that- #>. they do rio-t Jbt any tie* jsHesr to rakiretsect date die or vitMnw froa th ' oenriee vith the Cetty, and that the $ejiaa$ eoRtieue* lie eswitrlVatisse to the Aetireneet Man eiv the jwrteeet Ineift* the Omni of the Mum*! Tbesefit* above for vr* Cliffcee !* la. the ea%- eq&oht to hlo rctlreee&t ?m au /^ 15* 1951* ' . -* . ". ..(h>':^.^^(^t^^%':paau!UKrat1;ee above far p*-height P* Jeyee e2>Uti of . - *75t50.c<0 In iiury asd director's fee, ad $5&*caD*00 ?ay&;bl* frost cot vrefftte under hi* ea ploywent contract with the tdvleh eojjtroct provide that Krv JWUtM:: ?% ;oye ie tB^loyed fee ^eetral h'&a^er of the $enjMejr for * 'ried * of five years froas 4-.a-?hcp 1* 1950* at hie 'rrcseat Mtlary of $?593*0d -*r yeast- olios If* f the ComTJ&tiy's at sroflta after taros asd all crh&rgea end after the -dtNteetiea the regular; dividend* w the. Ceeasr-* Ctaewertl%l* -.^referred"fteiti-\ : * : aa-ialloiaftBee of. $.l*00-.?r.*Sms' *. the C>jfjjre sensem Itaek atetadiec# :-*uV*Jeci;^tw the-: liB-Ustlom - that- his eddltleral esyaaeatle&f reneeted*-shall in r^afeV'e^eeed- SS&*!3jj..09* --S-le ,^3N^at' rcwaseretleA; for: :th :year.11?5l-eiseeie*---::-' v hi k ''ttCBr^ite F*srj.a^ratlo for the yev 1950 hy ;^,950t?0* . .* - ..* * t .. The *m3jr*i?tte reisanerattee *h*aB for .Vr* Jht, re^oo*4i.ff aswjuat for the y*r 1950 ty 5^*950*00, .%tk exceeds the e*r (d) ?he- remnerat: or, eh-ovo f*r ?5r, ...lTt&r>der h. lUticaa exceeds the corr*po.dijr E*!ot for the yt-iir lO^O hr ii7j500GO. (e) fhc a;Sf:rgM,te Twttrk6rtiOK e^c',f) far' 'll direo'torT ar;i: -`ffieer exceds the eorre*r*MiB<f asxoettl for the year 1950 h? ** . fke C'*'teij! *e eeatrlWtloe under ita st|>loyeea1 hlf* -lee-'*?** '* Ian-on hoh&hf tuf all officer* 4 dlreotore fcep'egatsKl'i-76l*72 during the fiscal year beaded'-'e%e%ejf-':.^lV '19SI^ - ..'She.1 to'; Coi.'isjusy <f ips-arsmee: fr wy ; .di'reeter:*4$i+l$:f*tAhiss ferlctdi;v .j.: . '-a uaaiMury.-'ia* 1951, the. Ceeyecy rraeted Vr ^j-ard K* /ereaeea* a ti *hni4t f ife . yirchase'at fej ti4 ?rir to >Mto'ber 31, 19#** 50 >.;.;.;:^v'.;- eliterea ef^iiSoswoB4/took af;d%^S.lldde -Cofcjss^:;:^i.;_ifc.''-]Sii jf fP50 ?*r share* lisa .'Hitrinit -ilitiej-.'SosiBHs* '.tteeh; .hased ,!&. t:he, w*i; totueen* 'Mtfaeet '*#4 leveet :f*enS:Rg.'ricdi' :<> -'.the-;KW Tori; -nOi- ::&schar.?ro the d&t* Vka >4s4is' $89*125.. p*t''*har* ., fio -notioR ls ;\-.wt aostirt.tt'hl* 'teftA. teraift&tes . the` v;:::., ' v'^'-. :..: grastm..<*a for a?" r*&;;'to he employed;-V.; tW;vmjo&jsy, .se*5t -that 1R ;tSe^ vsst: tb igrantm 41* the ejftiefc aay h erereieed''l0'"h*lr* ''er-iwressal tfepree*. t- oatAti?*,-* the efiteo hs* vithlt thr* ssoatha fros the date e death* - ' ^.^r^im^msxrnrwwrt- & :*'-'! ...,.. ii SgSJt ^ ___________ .. U4 . iT," ^ X&. ItemfotA Ss.t.s^a'csy. i&h& % fciife &*l&t ft* .. fev*ll T'V&itj- - . <ahn- X?# Sutti - R&lfi**. f?. S?ol*#i&*' %wl S. 4'drtMfae fohte ' 4& AjsfSSaftdW-U. S&SW?&8; 5\-r4 #1* ftfr-feroa ?M/51 /l/$l /i $/5T v/W51 :.m..t, A. ^ ,*-'-v.,i .....:.*.......<..; ISSl # * $tio0;h*; f,ir,22iv * l* *, I>a.lo0;'S0' * M * a ** ** ttosoioc^. .$*w #t>T& P* ftr^nmh ' AK&.?k& value of skw>si S/i/51 -?aa tw, 4*100,00< s.us?,;: ............~^r.................................................. efM^itwfS % ittfelsg tfes easim jtftwcsi w4 lows* ffilliw, wdtou ih* 8** York H** 'te%eth.am$& ** &' *h &%*' of tartrl*# sftf tk optima. * ^ v r r -* .' * '" iit*u2* 2aaa^^ *vt *7311call** .lilffiJ&j l'e,ietr?zt'-oi`' ,.<&, Sa ffefrfcftlR ^ftttctiafr. - c 15* i.^5 tk #&S tsf lime terras ^psar^wS its^waKeat sts*s4 lute m of favmibte 1 XfjSO ish* 4 P,t,, ri .?yt*e t**r#kS' %* i* I** W. apla^cd m ^a*rX A.p*p f tfe* 8jaa^_fi3p & jm?h< ?f / ixv year* it Bwk*r t I95ts* *t hi# 1as?* a 775*000 ?r i*#*?, ,, pita* iSt f i`m 0fp&,^* % pr-fits ttft.ip *<1 all kff*s* &srf *ftw ih h vi the sttf&likt diV'ittte.B.n *>n tb# R,..-a'*`erii'kle i'?*if&?Ttid Stock* in&i .ft isllev&tsicft of jiMgi' mhtiUNt on .fhe Cen?&ay* Cownca i>%3e.?, tt- Vf,Si the'lirltat'-Oj- tfcs>t: ;tS &&Jt*tor<.ul ow jtijsoatiMr/. ? ';>' *&*&* sJSitXl in ^h` erttmr-M^cod 5!50,0C<i, .........-- .... . - -. ; * \ |g u. ^Vig.elpi1*! of S-au-HS''1 ijcf'arij.ii* _ . "-'6 y'tiu*& 1 vxsf.*v"hy tMi jrcrtstrmii `to s^r. Sn^cfio^Ilf, nt>re tiutr. 1C>' b /. f*ry c-f ty cveur^tlcc of %*m r*yls>lpirfri` `Z -_ , ' ..is' of rioeasVb**' l* %^>l ail a.-4 ;f/;?i?r^'th rtv;i jtrtfj't w <?Xoa2 o v,j s4 ff773;5 tthwncft of < **,& 4:tntfK vt ii.,.->^ p^r 'saX-js y{ tko- Cor'.^efrullor* "-,78;*' :f > Arst joatfeta.*i4l7if: llis-IiU'"' laalisr^ J , - ' r, JB.nu.ary 15, 1952 *r# -tro \h* jitiffiker "f holderrs ;>f rt'-rord sf wtfc'it eiJiSB, of <si'r.uXy r.^curi tSoo # ihti ra^istfwati >* ' . - . . -, .v .-... i .'. !' i-'cX, '-.iVvaf, T'iar v^tse r.vwi'b^r of ttoidors 17.590 : ....~.r v/:.::: ^.n ' >. / ir^iJ'VT* ,, js*rhsuM? at toy %im j o t ,** %tt i-svfcr !' 13#^8j,*Jsar* W tkwwm -Stock- f t)i Ct?siy M a >le ssi t&209 >jwr'#* #< AfW a&jnwtawttt % 1 ffiTs effect to Che ejoUV*? of fee Geasc Stock' ta-tfh?* the jgTetaek', us ,,. dlvdde^ .rdiUtrllwkei, * s*rl*i^,?v, .*,*, vyCtMMfeijfeffiaijse# :;tetadSjsf> swr of t-teefe m"b$&et to e^ties at ft j-vlce %Mh is- W 6E0V5?' per B&arei te *- e-stH'fi &j* 5566<r^lfseMe od CsrJLK,t khea the .grjtesteo c*se* farj^y^*'4 reaeoa to he oapisyei ty Mw ChRpasy* erne that Sr tfck eves* the ^raetW , - 5e, fcb# option. wy to hy feeingor p*renl repreoeatativ** m, ifc oft#-sway;-he vi4M three **a$h* >yi, 1951 soti'-ae for thtt parehas# at he *hhe' (swler to <UaBi*e*rfc feSr-*- ' *Vaek split *rt<| stoefc dividestf.) hwee heea eenftftlsd %*# t* employees holding sisek eirtiee# left Cite CimpMsy* . a s of - -etcher 31* 19`$1 the inK torsos M.ed la asassr Co- Iteisc 5 #^4 11 hold &n ee ^eorihwi fth<nr: ` - ' jaiwlht !-* Joy* <;ao share*. *,. of 1 eif/brr >i, 1951 *',r 3*ight ' tfyeo held * ipt!* cftlliise far >fc.k5- of the total wpioasst f* etfcck the C-wpafty sakieet to t-ptiit#. var- ~'n fyl> 7.1, 19;i0. the ?oard of 3Ssreotor &dftj:tod & j'laa vha.-oh;' erloyoe "'heUU'Bjt' ffptio'ftit* te'^;5^aPth4^''i''C!KitB'`TWNWhJfjr'' SteTfc'-of the"COBjsspy- a-t .1139,39 .;er ehea*e vervi offered'a Rev f`-ra uf opts ; * , v-Atb at the eleecios. oftbs. . |.*!pleiy** eeftld he vehsCitated fry the old . the Rev optioft wild -r.-er- alt the- employee to esrereirte hi* opts.at s**s%et ^rice -'-r tt> det th* <fy%iok w se*leed 4#hw*A *s-f the ureter.t *jU rlc* e? $2v*59 fr'hw** Tr- ^ giev optSo b a*y he e*reie4 at -'> CSae withis-, five ye^a'* _the date the optlst S e#Btesi h? the s.ploye sr.fl Che deploys * a forwar opti*'Ji. t\sr readered, aad jjivec th otsuloyeo the rijefcc to pay i'f-r th ovar & period fhf te--i yors V ^ivi^vthe;{%3iiithyi?:; -;r cost sr SdSiittK1 eecitred h the of the et-x-i a pirch-^esd. --.# sf votwher H, 1951 a* eftir-We hd ,I?tcd to. wco^ilre the .so*? for r,f j,thp''per"'fthaf*.-'- ' v v-v^ :*^ . " ' . ; . t .' . ' - (a ) f'lii.&i.eiftl et.AtetieC, eewarfttely b >.,-4, siepajsrtefty tr-le re-rrt Jh) - M-'fia, ' `rsu*fc to -th* rst.<i.r!oit h-f the ;-'*c^rSt!vis , -s-J'uwf -.ft >f 19.)", th gi*traat hs. dal} etofte'd thiBr^iaftaai rjv;rt t he' eio-fd its hti^ftlfhy th tir.deri>rd -CheretsaCo sly a^thorlxed* < fMi hwisxiij. c'j^.htsy 3fr :.,V*i ,;.'S, '.Soraer v^eeraCarrv : ' .. __- - . ITEM 14(a) ' ^ " U, FINANCIAL STATEMENTS AND SCHEDULES - ' SECURITIES AND EXCHANGE COMMISSION FORM 10-K FOR CORPORATIONS ' ' ANNUAL REPORT FOR FISCAL YEAR ENDED OCTOBER 31, 1951 THE GBIDDEN COMPANY CLEVELAND, OHIO Sv:?- flr^^SmSnSs. JjmmAL__STATEMEMI5'_AKD:SCHEPHLE5' - ( >'/ f v _ J ~ ^ T h^ H mrssSSP ' '>. ' * ' , -- ~ k >mgg& 1- ,,* ( The following financial statements and schedtdes-iTf>^ are included: Consolidated balance sheet ^ Statement of .consolidated income Schedule V Property, plant,' and equipment Schedule V-A - Reserve's for revaluation of property,'/-"- plant, and equipment Schedule VI Reserves for depreciation, depletion, and amortization of property, plant,,> and equipment Schedule XII Reserves - Schedule XIII Capital shares ... Schedule XVI Supplementary profit and'loss information omitted: The following statements and- schedules have been Schedules I, II, III, IX, and XVII, are no + required under the regulations. Subject matter for Schedules IV, VII, VIII," X\ XI, XIV, and XV is not present. - _ The Glidden Company (parent Company): All of the. conditions outlined under/Item 1. (c) of instructions as to financial statements for Form 10-K annual report are met in this instance and the finan cial statements and schedules of the parent Company, ' have been omitted. s'j?' **3 I :/ ERNST * ERNST - CONSOLIDATED BALANCE SHEET ~1~j, - THE GLIDDEN COMPANY AND SUBSIDIARIES l ' ,4- < , - ?: -1 . 'f' ^ ` : I '%# ' October 31, 1951 * '' ' ASSETS ' "CURRENT ASSETS sasUash . .Trade accounts receivable Less allowances for doubtful accounts Inventories: _* - Raw materials"i - Finished merchandise (includes minor' ` amount for work in process) Supplies Principal raw materials are stated at cost (last-in, first-out method) 'which did not exceed replacement . market; other items are stated at the lower'of cost (accumulated average) or replacement market Other current notes and accounts receivable, advances and investments OTHER ASSETS Prepaid insurance and expenses Cash--s\irrender . .value of life insurance Miscellaneous notes and accounts receivable, advances and investments ,142,194.90'' 523. 330/98 $13,983,515*37 15,939,149*80 1,187,809*03 TOTAL`CURRENT ASSETS $ 865,515*68 , 791,199*50 -771.J7l8.8l' PROPERTY, PLANT, AND EQUIPMENT-Note A Land, at cost or appraised amount- Schedule Y " $ 3,359,666.30 S Buildings ($16,715,042.70), machinery, and equipment at cost or appraised .-- . > amount-Schedule V 49,847,633.55 $53,207,299.85 Less reserves for revaluation- ^ . - Schedule V-A 3,035,656.42 $50,171,64.3*43 Les^' f/eserye.s; for^-depreclation, . '' . - depletion, and amortization- . V.V. -.Schedule- VI ' 19,277,661.72 . mm mm, * S$SHgi mm $13>036,143.43 15,618,863.92 31,110,474.20 t t MMZj l m^za. $62,552,763.34 LIABILITIES. CAPITAL STOCK,, AND SURPLUS , CURRENT LIABILITIES..... Accounts payable, trade 1/3,924,597.87- 4f^r Wages and- commissions . ,, 1,492,205.34 - Pay roll and withholding taxes Other current liabilities . 110,943.95 ' 30,673.51 $15,558,42 Accrued liabilities: ^ .. ' - Taxes 409,109.02 w Royalties',:i.:Water:-'vrent>'-::>etc'i Insurance 471,609.55 286,287.22 Interest 25. 000.00 1,195; 0( Federal, state and dominion taxes on income-estimated TOTAL CURRENT LIABILITIES _4*383j 1( $16,136,5; LONG-TERM DEBT Serial notes payable, maturing $1,500,000.00 annually ... , July 1, 1953, to 1956, inclusive, and $4,000,000.00 on July 1, 1957, Interest 3% 10,000,0 2,428,433.99 ' iL'' > . v:^0 89,3^981 .m71 $95,875,179.04 CAPITAL STOCK AND SURPLUS Capital stock: ........................................ Common without par value: ' Authorized 3,000,000 shares Outstanding, .including ... treasury shares, 2,291,330 shares Stated capital 5j728,325'.00 Capital surplus-see accompanying, statement ^26.875,642.M $32,603,967*41 Earned surplus (includes $3,023,780.35 of . .surplus of Canadian # ' subsidiary )-see r- accompanying statement $37,387,789.87 Less 11,092 treasury - shares, at post-.-"- (including 9,26l shares reserved sale'to certai /. officers ..and h employees) 253.105.87 37.134.684.00 69 ,'738 $95,875, . '' ' >. - ' ` - - See principles of consolidation and notes -to financial statements. ' LIABILITIES, CAPITAL STOCK, AND SURPLUS g CURRENT LIABILITIES 3' Accounts payable, trade $ 3,924, 597.87' ', Wages and .commissions -- - 1,492, 205.34 2 Pay roll and withholding taxes 110, 943.95 * Other current liabilities '______ 30, 623.51 $ 5,558,420.67' Accrued liabilities: Taxes - . . . $ 409, 109.02 ' - Royalties, water rent, etc. 0 Insurance - 474, 609.55 286, 287.22 Interest - ______ 25* 000.00 1,195,005.79 , Federal,; state.: and dominion taxes on income-estimated 9^38^221^11 TOTAL CURRENT LIABILITIES:: $16,136,52763 LONG-TERM DEBT Serial notes payable, maturing $1,500,000.00 annually 2 July 1,- 1953, to 1956, inclusive, and $4,000,000.00 Von July'l, 1957, interest 3% 10,000,000.00 CAPITAL STOCK AND SURPLUS ' Capital stock: >9 Common without par value: Authorized 3,000,000 shares Outstanding, Including treasury shares, 2,291,330 shares Stated capital Capital surplus-see accompanying statement 73*. .04 Earned surplus (includes -$3,023,780.35 or. . surplus,,of. Canadian subs-idiary')-see'- {g] ..... .accompanying statement Less. 11,092. treasury shares, -at cost - (Including 9,26l shares reserved for sale to certain- . ` officers -and keyemployees ) $ 5,728,325.00 26.879,642.41 $32,603,967.41 CSee 'principles of consolidation and notes t financial statements'. ERNST & ERNST STATEMENT OF CONSOLIDATED INCOME THE GLIDDEN COMPANY AND SUBSIDIARIES Fiscal year ended October 31, 1951 mmMmm HmigjBmMibw SBpb IIMHNIi i|Sl2?9W -gsi Net sales $228,522,503.18 Cost of goods sold, selling, administrative and general expenses-Notes B, C, and D: ' - Cost of goods sold Selling, administrative and. -86,332,501.71 general expenses 26,150,0;75.96 -Provision for doubtful accounts ($276,911.96) less recoveries($l44,825.9l)on. ' accounts ..charged off in prior years-Schedule XII 132.086.05 :^M2,6l4>66f. 72 /$: 15,907,839.^ Other income M-27.181.71 ` $'16,335,021.17- Interest expense ______ 33lt,l5-2.8l INCOME BEFORE TAXES ON INCOME $ 16,000,868.36 Taxes on income,: estimated: Federal.normal.income tax and.sur tax Dominion and state taxes .$ 7,230,000.00 457.000.00 '7.687.000.00 CONSOLIDATED NET INCOME $ . 8,313,868.36- See principles of consolidation and notes to financial statements. ` V 4 - & a %&. > , a *.* mm , "a mj fi ,-^VfeW/ i *- --------- --ai ERNST & ERNST ' trJ* ' * V ' jfi} tSK'^PlsmltSSw $ F-^; 't `* ',,'' iff'?* , -* * 'j ^ ^ '/ ^k* ' f. A WO' r^f"* *^* ^ sfv"E STATEMEHT OF CONSOLIDATED'SURPLUS t\ ^iSh ^ ~*V'# ti^^IIW8MSBiaK& THE GLIDDEN COMPANY AND SUBSIDIARIES ^ Fiscal year ended October 31, 1951 ' , a"a^MI;.-. __ ^CAPITAL-SURPLUS Balance at November 1, 1950 Add credit arising from conversion of convertible preferred 4^ - ^ , cumulative ^50.00 par -value shares, to common shares without par value Balance at October 31, 1951 $17,732,104 ^0 9,l^3.v53i^.~ $26,875,642.41 EARNED SURPLUS Balance at November 1, T950 ` , Add net profit for the fiscal year " 'T ', -} ! Deduct dividends paid: Convertible preferred-$2.25 per share Common-$2.'25 per share Balance at_0ctober 31, 1951 S, 988,203.01 lu^.868-. 36 $42,302,071-37 $ 402,154.75 "' 4,512.126.75' 4;914.281.50 $37,387,789.87 See notes to financial statements. /. - r >> ` * ` - Stir- 4- 1SNP& PRINCIPLES OF" CONSOLIDATION ``AND-.'' '` NOTES TO FINANCIAL STATEMENTS '* THE GLIDDEN COMPANY AND SUBSIDIARIES October 33, 1951 Principles of. consolidation: . (a) Inventories include_small amounts of inter-company profit which are not significant and have not been eliminated * because it is not considered practicable to do so. I ''' (b) The companies Included in the consolidated financial statements at October 31? 1951? and for the fiscal year ''5- then ended are the same companies Included'In the fi nancial statements for the preceding year. (c) Inter-company sales have been eliminated. (d) Assets of Canadian subsidiary included herein comprise" net current assets and miscellaneous .other; assets? $2,110? 591*31? after adjusting for exchange at ~- October 31? 1951? and property? plant, and equipment, $585?454.62, at cost to the subsidiary'. The -net income of the Canadian subsidiary Included In the statement of .consolidated income amounts to $3^6,435*83 after reflecting exchange adjustment. -. (e) The equity of the parent Company in the net assets of the Canadian subsidiary, as shown by its books at October 31? 1951? after appropriate adjustments for exchange, exceeds the parent Company's investment by the sum of - - - $3?023,780.35* This.excess represents the undistributed earnings of the subsidiary-since date of acquisition, and'is added to earned surplus in the consolidated statements. Realization of such undistributed earnings in United States funds is.subject to restrictions upon exchange, and may be reduced through deduction of income taxe s payable there on upon re ceipt by .parent Company; The eq.uity of the parent Company in the net assets of E. W. Colledge, G. S. A., Inc., as shown by its books' .>-r.;/:at October 31, 1951, exceeds-the parent Company's --i . : investment1 by the sum of $37,593*26 which, amount .* * *' .represents the undistributed earnings of this subsidiary since; date -of.'acquisition, and Is added to earned Surplus in the consolidated .statements-. . ' Notes: - .\ N'ote A - Property, plant .^and equipment are stated at cost or appraised- amount less revaluation and accumulated- depreciation, ` depletion, and amortization. JThe remaining .portion of unrealize'd appreciation (approximately $1,500,000.00) included in the.gross amount of these assets Is offset by a portion of'the revaluation reserve which reserve was-also-provided- to'-further reduce- the----------recorded amount .of certain assets from-cost to estimated value's .prevailing, during the year 1962- as-/determined, by the Boird of Directors.' Cost, of property,- plants and equipment .represents principally- cash expenditures,: although certain:'properties were -acquired 'for stock. The net amount appearing in . the .bonsblidated .balanceIshett is not intended to represent the present values of the properties. Notes-continued: , '' Note B - Inventories at the'beginning and end of the year, in the respective`amounts of #31?09?Oil.92 and #31)110,474.20, used in the computation ofv-tcost of goods" sold have been priced as described under, the 'inventory caption "of ''br- :consolidated balance sheet. - * . -- Note C-- Depreciation, depletion, oBsolescence, and amortization:" The policy of the companies with respect'to depreciation is' to provide amounts considered by the management * as fair and reasonable to cover wear,- tear,, and deterioration of the property on a basis of specific.rates as determined. It is not certain as to what extent obsolescence is.covered in the provisions, as changes in art may result in shortening the useful life of the property. The companies do nipt believe it .practicable to set forth the rates in use as such rates have been determined generally as applicable to specific assets or group: of assets in various geographical locations. Provision for depletion is computed for each unit of production, based upon estimated recoverable ore. Expenditures for maintenance, repairs, and renewalsare charged to operating expenses, and expenditures forbetter- : ments are added to the property accounts. The recorded amounts of properties retired or. - sold are charged against amounts accumulated for depreciation and revaluation if such retirements or disposals were contem- . plated in the determination of depreciation rates.'"If such retirements or, disposals were not contemplated, the asset . .' accounts and related accumulations for depreciation and revalu ation are reduced by amounts Included /therein for such:properties; ' profit, or. loss. ..resulting from such transactions are. included' in , >-the income^ fo# the -period. Note D - Reference is made tcnSchedule XVI for information : - ` as to-charges for maintenance and repairs, depletion, depreciation 'and "amortization, taxes (other -than income taxes), management and "service contract fees, -rents and royalties-. ' - (. ERNST It ERNST COL. A CLASSIFICATION Ore lands and leases Land' j Land improvements . Railroad sidings - Buildings | Machinery and equipment' Furniture arid fixtures Automotive I equipment ' Constructin' in process W * '* SCHEDULE V--PROPERTY, PLANT, AND EQUIPMI V * , v/. V 1,, 1 A , H J* r H > ; :. t e e g l id d e n c o mp a n y a n d s u b s id ia r ie s \'r > '. ' Fiscal year ended October 31, 1951 COL. E, , Balance at Beginning of Period < COL. C Additions at Cost TOTAL ; 24o ,034.84 2,671 ,718.22 424 ,296.06 196 ,042.*6 15,771 588.26 26,579 ,970.01 1 351 ,432.04 272 ,254.33 ^1.200 48,708,103.39 \ -O- \ 12,168.65. 68,010i44 682.38 1,279,621.62 . 3 625 215.50 , 1571444.20 98,208.11 676,847.94 $5,918,198s84 , . : \ -s * >1 * Pi Ife ji' gMs- 14 JUS V--PROPERTY, PLANT, AND EQUIPMENT............ rk--1 . . , ................. _____ ____ ..4,4....k...U..................................... ....... ...-...........i............*.............................,.......................................................................... \ * . |, j! * BIDDEN COMPANY AND SUBSIDIARIES ,...... '' .................. . ' .- H 1 *,,,, ,|f -rt-if-kJ- .. l . ft JUl*, f * hf T ' " . ........... . lt* r ^PWj; r '' '. ai year ended October 31, 1951 .................................................... 'IT" . ' '' ' !' 1Y ....... .. .ik, .. rr,. _ , _ ................. ' ! c o l .b ! Balance at Beginning > 1 of Period COL. C Additions at Cost COL. D COL. E |, n t ..; Retirements Other Changes-- or Sales Debit and/or Credit*___ Describe COL. P Balance at C* 1'is of Period > I 240,034.84 2,671.718.22 424,296.06 196,042.16 1.5,771,588.26 ?6,579,970.011 1,3 51,432 oOV W" ' ' -o- 12,168.65 ,, 68,010.44 682.38 1,279,621.62 ; 3,625,21^. 50.1 157,444.20 4,582.56 50,973.35 1,006.00 3,223.74 336,167.18 961,552.90 272,254.33 ... .1>.2-/ 00.7f: 67.47 It : 98,208.11 , u67/u6,.8u4n7y.9.y4t: -o- ; 148,708,103.39 65,918,198.84 $1,419,002.38 $.? -o-o- - o-- -o- >0- o-o- -o- 6 235,45 2,632,91 491,30' , 193,50' , 16,715,04 29,243,63. 1,48,3^,72' 33+, 11" 1_,677.61; 653,207,29' 28 ' ` 527, 50 o d g 636 am ms ERNST CfERNS*TT`lsstfS!isiS:38:i^^ SCHEDULE V-A - RESERVES FOR REVALUATION THE GLIDDEN COMPANY AND SUBSIDIARIES Fiscal,year ended October 31, 1951 atST S` M' f iiIlil^f COL. A CLASSIFICATION COL. B BALANCE AT_ BEGINNING OF PERIOD COL. C COL. D ....... ..... - '.... ADDITIONS _ RETIREMENTS COL. E BALANCE AT ...... END OF PERIOD Land ! ......... Buildings N 'Machinery1 and equipment Furniture and. fixtures 261339*77 Railroad sidings___ _______ ____ TOTAL $3,153,921.75 $ -o- ^9,003A8 1,073,>+06.34 -o-_____ 2,566.18* , -* o-- -o- 31,501.57 6,339.77 o- $118,265.33 $3,035,656.42 * Indicates,.red figure.- Note A - These reserves were provided by charges to capital surplus (charges transferred to -earned surplus in \ 1946) and reserves for depreciation, to eliminate appreciation of-property, plant, and equipment, and to reduce recorded amount to estimated basis of values during 1932 as determined &i-by-athe>Boaxd of Directors. ERNST ft ERNST *>1+ * - f v` Usito\ ' $ 1 . SCHEDULE VI--RESERVES FOR DEPRECIATION, DEPLETION, AN] /OFPROPERTY, PLANT, AND EQUIPMENT THE'Hl IDDEN COMPANY AND SUBSIDIARIES ' v COL. A DESCRIPTION Ore land's and'leases Land improvements / Railroad sidings (, Buildings .. . . >. Machinery and equipment* Furniture and1 fixtures Automotive equipment TOTAL Fiscal year ended October 31', 1951 COL. B COL. C ADDITIONS :nce at Beginning of Period J- a) Charged to Profit and Loan or Income (2) Charged to Other ` Account*--Deacribe 137,837.64 $ 17,981.72 194,084.05 "V40,503.^2 38,756:55 ' 5,323.41 , 649,357.52 398,808.60 12 ,708,055.70, 1,133,651.89 723,158.92 s- 82,391.46 '180*. 889.40' 1 51.886.06 & -o-o- "O- -o- -o- -o- mam --o-- -o- $1 ESERVES FOR DEPRECIATION, DEPLETION, AND AMORTIZATION OF PROPERTY, PLANT, AND EQUIPMENT THE GLIDDEN COMPANY AND SUBSIDIARIES Fiscal year ended October 31, 1951 i COL. C COL.D ' ' . COL.E . ginning : a ADDITIONS (1) ,Charged to Profit and : Loss or Income <2) - Charged to Other Accounts--Describe 7.64 4.05'. '6.55 '7>52 ^70 -'8.92 12.40 ,>ny. 78 .. . 17,981.72 ' 540,503.42 . 5,323.41 398,808.60 1,133 ,-651 .^9 82 391.46 51.886-. 06 $1,730,5^6.56 $ -o- -0- "O- -O-o. "O" "0" DEDUCTIONS FROM RESERVES (I) Retirements, Renewals, and Replacements (2) Other-- ^ j Balance at Close , of Period ^ Describe - | _. ..... . VsfeV-'S -08,084.16- l,38l.3p 194,823.34 827,866.50 23,984.60 28.884.72 $1,085,024.62 $ -o-o- -0- -o-O-o-o- r O- 226,503.31 42,698.66, '\- 4,853,3^2.78,^ ' 13,013,841.09 '< Vv- Zi;565.Z8% 20^.890.74 dm* $19,277,661.72 ^ :> ; r ft SCHEDULE XII--RESERVES THE GLIDDEN COMPANY AND SUBSIDIARIES ' Fiscal year ended October 31 19J?1 |^ 1 ' . 11 ! 1 COL. At |- - j^ESCRIPTIQN - '..v; -V,;-, ALLOWANCES DEDUCTED FROM-ASSETS For doubtful accounts, discounts, etc COL. B Bilance at Beginning of Period t .iV-Ac'cbL. C " ADDITION ISPIll' Charged to Pi ofit and S:c 1 Loss or Ip come 505,718.79 & 276,911.96 $ GENERAL RESERVE For contingencies 2,500,000.00 -o- : $ Note A - Provision for discounts rn excess of amounts allowed. .4 11 | 1 . Note B - .Adjustment for Canadian exchange. Note C-Accounts charged off. ' * NotecD - Transferred during the year to tax pliability account in connection v federal taxes-on income. SSsf C ' < C" iV , * i *1 'ar- | SCHEDULE XII--RESERVES THE GLIDDEN COMPANY AND SUBSIDIARIES Fiscal year ended October 31) 19^1 * COL. B COL. C ADDITIONS > Balance at Beginning ' ' of Period Cl) : Charged to Profit and : (2) Charged to Other Loss or Income : Accounts--Describe , COL. D mWSffl .1 " -tyi-r ; ............ ......... ............ COL. E /Vl Deductions from Reserves--Describe > *' 0^t ' Balance at Close , of Period iir $ 505,718.79 $.276,911.96 '( H ` $2,500,000.00 $ . ` ` -O- : $ 295.76a $ .1,00^-.36B i*W M,, - ;-"'> m 258J591.17C $ 523,330.98 ^ -o- &2,'500,000.00D $ . -O- :xcess of amounts allowed, lange. ^- to tax liability account in connection with settlement of prior years1 BW-- 1^'JV5i'sj.^4 * .I - * u A . X , -., . . \* - *- . ,, T <-* r * * n ,*\*& - HK +W/ i _-,, j, , . '$&*&' l Sffidfr.j)' , vH (>/* -ffiMii^EW^< '2'itV1"^. *t'* 7S1<S.l^S V ,;^SSC',. f r f "* >:- v -^ r^ss^rnKm wmmm 4---ss%* ERNST * ERNST F-12 J.~^,-9rS: SCHEDULE XIII--CAPITAL SHARES THE GLIDDEN COMPANY AND SUBSIDIARIES , October 31, 1951 *p M ~/**lisBiR %11 V ,'i'^^^fe`r ; COL. A ** ^ * 7 ti" NAME OF ISSUER AND TITLE OF ISSUE-. ^ ?2xi)^p COL.B COL. C - COL.D ' Number of ' Shsres Authorized by Charter Number of ; Shares Issued v and Not Retired or Cancelled NUMBER OF SHARES INCLUDED IN COL. C WHICH ARE (D Held by or for Account of Issuer Thereof (2) Not Held by or for Account of Issuer Thereof THE GLIDDEN COMPANY Common without par value 3,000,000 2,291,330 11,092 '2,280,238 SUBSIDIARIES CONSOLIDATED The Glidden Company, Ltd.-common, par value $100.00 a share 4, 200 if, 200 ' ! .. .! None 4,200 E. W. Colledge, G.S.A. Inc. common, par value $100.00 a share 47 47 None - . 47 cc SHARES GUI SHOWN ON O RELATED B/ UNDER -"CAPITA a) Number .2,291,33 None None ig. ss?; SIS# iHSi " ,, .tT-t *- t j.*1! * V> , 1 Ul -tf**- ' .y 1 * >,f i'f y ^r\tl '^W1''W*^ 7 "' '*T t> vJ^V T `S'Sfct 3 < ^ v. V- i * ,-,/- -_ , V'. sti ^"f 5$&n ,tV 4 /'v : *,> ' 'V'V^ * ': i*,f ^WTiiV'f ^fe^-Vv4%/>,. t 5l ' :v ' '* N ***>>*-r^mrn w*<B> mm ^ ^ * ,-* 1 tyy -> y ; y, ~ *fV ^ *. i*e 4> si4o^j f * "i ,- 1 * *>! vtn r ojij _.' -i a ,!> ' JSStS-^ ,jWsi _ ,,v?.. ^y?'4H* ""my?yyt y*.,n r/^yHt^4r,. i*i :taiiil|i#*iiiii lWiP#iiii - . ( ' ,.. * N ISsS; ISIS ...........................................................*...v...f..y....^....f...x... ' , WiM-: -^^y%\ y ?/ ,, s* f'-, a t.J *V ^ -v ^:' >-,;>-y5?t`v J# - IjjS.' tjf -i^-V^ ^ JJ* *1 ** ",<,"r*'>&> COL. D SR OF SHARES DSD IN COL. C RICH ARE (2) Not Held by or; for Account of Issuer. Thereof COL. E SHARES OUTSTANDING AS SHOWN ON GR INCLUDED IN ' RELATED BALANCE SHEET UNDER CAPTION "CAPITAL SHARES" (1) , . Number .' - . , (2) - , Amount at Which Carried COL. P COL. G COL.H NUMBER OF SHARES HELD BY AFFILIATES FOR WHICH STATEMENTS ARE FILED HEREWITH <1> Persons Included in - Consolidated ' Statements- M2) Others .* Number of Shares Reserved for . - Officers-and Employees . Number of Shares Reserved for; Options, Warrants, Conversions, and Other Rights 92 2,280,238 2,`291,330. 15,728,325.00 None . None 9,261 None . ^-,200 47 None $ None ' $ <; *fr+jr '. : `. v.VV i -o- .. 4,200 None None None -o- 47 None None . None- /. / J %< 1 if^i^y'.';Jr^~rjjvjv; r. S3 *- . ! **. L,,. ';. ' ; ,,t ii'l ERNST & ERNST / SCHEDULE XVI--SUPPLEMENTARY PROFIT AND LOSS IN THE GLIBDEN COMPANY AND SUBSIDIARIES Fiscal year ended October 31,,, 1951 ' 1 Jm ........ 1 COL. A K \ ' ; .5! *. r'.^rr . ITEM . "-;,v v-' S,-. j ^ >-.w Maintenance1 arid repairs . i * } . ' Taxes: 1 Pay rcll taxes Real and'personal and miscellaneous Rents-Note A Royalties Management and service contract fees' COL. B CHARGED DIRECTLY TO PROFIT AND LOSS ^ - > . To Cost of Goods Sold or Operating Expenses -^$2,649,845.4^ $;132,611.7 $ 285,187.53 > -169,*391".3 > 507.648'. 33 293.208.'7 $ 792,835.86'0*462,600.0 '; ' 137,677.32 : \w 35?+i 159.' 2 109,^8.27 - , -o- -O- Note- A - The aggregate annual amount of rentals upon realyproperty''n Company and its subsidiaries fori terms expiring more`than three years"aft filing ;is. not- significant.' .N ` `. SHU m `C i - `.F, 4 <o ' A;;-A A'; v';;j:; -AA.t 1--SUPPLEMENTARY PROFIT AND LOSS INFORMATION ;.. ' ^ r i _- .,.. \ . ' '.., ; "- ]' I [/VfA.i,-! 'A ,V.'~' V" "/AA' "V .S,/' ! ' " J'; \y :.V;'-.| E GLIDDEN COMPANY AND'SUBSIDIARIES 1 'iseal year ended October 31, 1951 I, ............... >............. ..... ... .. .3....... . I . ,5 " St hf l,'1 - * - '' l /*,'-< *-' 1111111111 V- - *-*."* *** 1 'S.'txfiV';ti1 ;?' .asftJm*>'J,-fs ,s^'-A^5L's-'-*a'',*l#^s# * s: 4 *' _ . * ' * .?,`A~-;V, : .'~!-. :-f ^:*i is .'r-'A'A'v^f.S-;A-'-AAi-i'-::'v-.-.-,;,l-^-::: ?r?7--^Wj muSm. ........"* COL. B CHARGED DIRECTLY TO PROFIT AND LOSS fl) To Cost of Goods Sold or - Operating Expensed '. (2) Other COL. C /.' : . tfV. .' ' ' !-': --wr. ' ' - V 1 .." CHARGED TO OTHER ACCOUNTS CCi*r; (1) i (2) Totnl |.;.'a !- ^ :8 A,:i r'*/:A!..* SfeliS|l m wpis Account Amount / Apiss8^8|iiiig s '1 $2,649 845.49 1,730,546.56 132,611.76 --o--:-, - -o- $2,782,457.25,, -o- 1,730,546.56 $ 'V? 285,187.53 507r 648,~~ 792,835.' . 137,677.32 109,258.27 -o- 169,391.37 29^.208.71 $ 462 600.08 35^,159.28 -o-. -o- -o- $ 454,578.90U 1." , -O- _ ' 800:^9^^. IT -o- >1,255,435.94 --O-- 491,830.60 -o- 109,258.2" ` -O- at of rentals upon real property now leased to the expiring mojre tkan three years after the date of s jMMtililil m ilsistlil wAieliaaiasaiA^i am ^'AAsWSMilaBBiSPSI^Ss^afSlw^ ' .. * l|li . " , \ 1 kifc t"Vv <-A ? jMHHHI