Document NGeLE636Dk7J5NBDJdBEGYovw

0000-NLI-000017915 NATIONAL LEAD COMPANY ! REPORT \ \ FOR FISCAL YEAR ENDING DECEMBER jrst, 1908 4 , PRINCIPAL OFFICE: i I EXCHANGE PLACE, JERSEY CITY, N. J. ; EXECUTIVE OFFICES: j III BROADWAY, NEW YORK CITY. i. t _________ ;j 0000-NLI-000017916 NATIONAL LEAD COMPANY/ :Tzy.< L. A. Co l e , - . -- R. P. Ro w e , W. W. La w r e n c e ," ] - ' -1 Ge o . O. Ca r p e n t e r , " Ch a r l e s Da v is o n , : - E. F. Be a l e , - ::i L Jo h n B. Fr o t h in g h a m, M. D. Co l e , - ,r-' Fr e d . R. Fo r t me y e r , Fresident, : .Vice-President. , Vice-President. 1 ' Vice-President. i- Secretary. -/Treasurer. / `iv y d ; ;-.Assistant Secretary, j Assistant Secretary. Assistant Treasurer. DIR.ECTORS. ( ., . _r.. E. F. Be a l e , 1 Ed w a r d Br u s h , - - f- Philadelphia, Pa." " '- y'Ot.-i i-* '> '!-i,->'n<-'New York'City1. ,ir' G. >. Ca r p e n t e r , - ; :- < lt> et:y -St: Louis,'Mo.' -'i-3 X* A. Co l e , c-.-.I -;lU ;j :if-/ ;; :r;oEast:Orange, N. R.;R, Co l g a t e , ; ` -vr.'J ~'C -^r^t/r^iNew York City. [N- E. J. Co r n is h , Chicago, HI., ;! rctrj E. C. Go s h o r n , Cincinnati, O. D. Gu g g e n h e im, New York City. M. Gu g g e n h e im, W. W. La w r e n c e , H. M. Mc Ch e s n e y , C /! * New York City. New York City. St. Louis, Mo. R. P. Ro w e , Brooklyn, N. Y. A. P. Th o mp s o n , - Buffalo, N. Y. Wa l t e r Tu f t s , - Boston, Mass. C. F. We l l s , - W\ * Pittsburg, Pa. EXECUTIVE-COMMITTEE. L. A. Co l e , Chairman. j R..F. Ro w e , ,;KPO j E- F- Be a l e , anuzs.i-. W. XV- La w r e n c e , , :-Aro =r/..G Mu r r y .Gu g g e n h e im. u , y.ay .;Ih =. GENERAL^ COUNSEL. -ifv-.irA Messrs. Al e x a n d e r & Gr e e n , 120 Broadway, New York City.' - REGISTRAR`OF STOCKS. *v j ~, Th e Me r c a n t il e Tr u s t Co.,r 120 Broadway, New York City. 0 1 0000-NLI-000017917 Full information relative to the White Lead Department of National Lead Company's business was given to our stockholders last year by means of " The Dutch Boy Painter ", the miniature magazine published especially for painters and dealers. The periodic visits of this magazine will be continued in 1909. The desirability of using and recommending National Lead Company's other manufactures should not be forgotten, how ever. Some of these are of very general utility and should be kept in mind, such as lead pipe and other plumbers' supplies, babbitt metals, solder, red lead, linseed oil, etc. A list of our various manufactures is given on the page opposite, for it is be lieved that the stockholders of the Company will prefer to use, at all times, those products in whose success they are interested, especially as every one of these products is the best of its kind. National Lead Company's brands of White Lead are as follows, all of them distinguished by the ``Dutch Boy Painter" trade mark on the keg: \ An c h o r Ar ms t r o n g & Mc Ke l v y At l a n t ic Be y me r -Ba u ma n Br a d l e y Br o o k l y n Co l l ie r Co r n e l l Da v is -Ch a mb e r s Ph c e n ix (Ec k s t e in ) Fa h n e s t o c k Je w e t t Le w is Mo r l e y 4 Re d Se a l Sa l e m Sh ip ma n So u t h e r n St e r l in g Ul s t e r Un io n i ' i Jf 0000-NLI-000017918 NATIONAL LEAD COMPANY- MANUFACTURERS OF WHITE LEAD, DRY AND IN OIL Litharge, Orange Mineral, Red Lead, Varnishers' Oxides, Glassruakers' Oxides, Enamelers' Oxides, Colormakers' Oxides, Potter's Oxides, Rubbermakers' Oxides, Accumulator Oxides, Brown Sugar of Lead, White Sugar of Lead, Nitrite of Soda, Colors, dry and in oil Linotype Metal, Stereotype Metal, Monotype Metal, Electrotype Metal, Lead Pipe, Glaziers' Lead, Block Tin Pipe, Bar Lead, Tin Lined Pipe, Lead Sash Weights, Sheet Lead, Lead Wire, Solder, Solder Wire, Lead Traps and Bends, Solder Ribbon, Babbitt Metals, Piano Key Leads, CASTOR OIL, AMERICAN AND CALCUTTA LINSEED OIL, Raw, Boiled, Refined and Varnish, LINSEED-OIL Cake and Meal. 5 J* 0000-NLI-000017919 Y f Y ' > J ( ' / "i . ! I /./()! i / Y NATIONAL LEAD''* COMPANY. BRANCHES. ,TSS.. i J,' AonirO a'io :UN n i'.c t .C) A TLANTIC BRANCH, ,,,_NEW.,YQRK CITY, V> i\`rtrMii Broadway. ^ u f f a l o 'b r a n c h , . -;j C>'! mV/ r.;i ' ' BUFFALO, N. Y., Cor.Clinton and Oak Sts. CLEVELAND BRANCH, ^ ;:Y/ r CLEVELAND, - OHIO, Canal and Champlain Sis. . an,! i piib A.AnoA -'.`O-i ocr.;1' L' Y; A CINCINNA TI BRANCH, CINCINNA TI, OHIO, Freeman Ave., cor. yth St. ..110 tfOTV./.D CHICAGO BRANCH, . ........ ......... n CHICAGO,. ILL., Acxs.-.r./.i.A h; l Cl.'./-. ........... ... . Cor. State and ipth Sts. .r'KtmsT L-rrr, iyjr.foX .YYod .-nr.n ST. LOUIS BRANCH, ST. LOUIS, MO., hr.:: sxr.'J .U.O-GYCIdrk'.Avc. and ioth St. 0000-NLI-000017920 JOHN T. LEWIS & BROS. CO., PHILADELPHIA, PA., Lafayette Building, Cor. Fifth and Chestnut Sts. NATIONAL LEAD H OIL CO., OF PENNSYLVANIA, PITTSBURG, PA., Commonwealth Building, j i6 Fourth Are. NATIONAL LEAD CO., OF MASS., BOSTON, MASS., Cunard Building, 126 State Street. ST. LOUIS SMELTING 6- REFINING CO., ST. LOUIS, MO. St. Francois, Mo., and Collinsville, 111., 620 Frisco Building. NATIONAL LEAD COMPANY WAREHOUSES. ST. PAUL, MINN., 354 to 360 East 6th Street. DETROIT, MICH , cor. Wayne and Woodbridge Streets. OMAHA, Neb., 1415 and 1417 Dodge Street. KANSAS CITY, MO., 1313 and 1315 W. 10th Street. LOUISVILLE, KY., 202 Equitable Bldg., 4th and Jefferson Sts. NASHVILLE, TENN., 225 Tenth Avenue, South. NEW ORLEANS, LA., 5 ,t ft. and 51* Natchez Street? -S73 S'. 'Pi.ttrS S-trecf", 7 M 00OO-NLI-OOOOI7921 NATIONAL LEAD COMPANY, i Exchange Place, Jersey City, N. J. REPORT PRESENTED TO THE STOCKHOLDERS AT THEIR SEVENTEENTH ANNUAL MEETING, APRIL 15, 1909, FOR THE FISCAL YEAR ENDING DECEMBER 31, 190S. To the Stockholders of National Lead Company: The following Balance Sheet shows the condition of the Company on December 31, 1908: ASSETS. Plant Investment.................... . 24,478,947.42 Other Investments................ . 13,780,429.78 Stock on hand, manufactured, in process and raw................ . 7,252,230.47 Cash in Banks........................ 933,676.29 Notes Receivable.................... 852,378.01 Accounts Receivable .... . 2,406,589.95 $49,704,251.92 LIABILITIES. Capital Stock--Common . . ....................... 25,000,000.00 Unissued . . ....................... 4,344,600.00 Preferred . . ....................... 25,000,000.00 Unissued . . ........................ 632,400.00 Surplus, December 31, 1908 . Notes Payable........................ Accounts Payable.................... 20,655,400.00 24,367,600.00 . 4,458,455.01 7,000.00 215,796.91 $49,704,251.93 A comparison with the preceding year is given in the following statement: 9 0000-NLI-000017922 a s s e t s . .;;-.v:or;Y.'' r r / De c . 31, 1907. .De c . 31, 1908. Plant Investment . x24,334,093.06 " '34,478,947.42 Other Investments 13,738,017.50 --13,780,429.78 Stock on hand. . 6,700,865.02 7,252,230.47 Cash in Banks >:1,224,363.64 5 933,676.29 Notes Receivable..: 1:1,405,349.92 852,378.01- Accounts Receivable 2,100,984.73 3,406.589.95 In c r e a s e . De c r e a s e. 154,854,36 ............... 43,412.28 ................ 551,365.45 ............... . 4 h ' 1 290,687.35 'i;1 : 552,971.91 .805,605.22 ................ 149,493,673.87 *49,704,251.92 *1, 054,237.31 *843,659.26 LIABILITIES. De c . 31, 1907. De c . 31, 1908. In c r ea s e . Common Stock ?20,655,400.00 '20,655,400.00' -.'l ! '. . Preferred Stock . . 24,367,600.00 Surplus................... 4,294,204.25 Notes Payable . . 27,000.00 Accounts Payable . 149,469.62 24,367,600.00 4,458,455.01 . ^7,000.00 T;1 345,796.91 A; . 164,250.76 ................ 66,327.29 *:TM ; *49,493,673.87 *49,704,251.92 *230,578.05 De c r e a s e . ... . .A J ................ 20,000.00 ................ r *20,000.00 w rr .'. .SURPLUS, Surplus, December 31, 1907 r0.fe7S.2 Net Earnings during 1908 . 00.065,9U4,2 2:MC9<Ni:.0!-' 4 4,294,204.25 ; 2,902,752.76 *7,196,957.01 DIVIDENDS PAID DURING 1908. On Preferred Stock. .23ITIJIHALI March 15 . . Dividend No. 65. 'June 15 ` " ' No. 66. Sept. 16 . ,67, > (Dec. i ;16 . 4,,i (,,No.;68. 426,433.00 426,433.00 426,433.00 426,433.00 c.i/i-cu':hi:Tr?'~ I -1 1,705,732.00 10 5 r4 On Common Stock. April 1 . .. Dividend No. 17. -jfnly ; i . . `t No. 18. .Oct,;: fij " No. 19. Dec. 31 . No. 20. > "! ; m: i l *i.H 258,192.50 --i / 258,192.50 * 1 ` I "I 258,192.50 258,192.50 1,032,770.00 2,738,502.00 ' "3 '-Surpl ns,'December 31, 1908 U' ! .'i. 'j *4,458,455.01 lO 0000-NLI-000017923 The foregoing statements show the condition of the Company at the close of its seventeenth fiscal year, December 31, 1908. The net earnings were $2,902,752.76 or $39,492.63 less than the preceding year. Regular quarterly dividends were paid on both preferred and common stock of seven and five per cent, respec tively and $164,250.76 was added to "Surplus" which at the close of the year amounted to $4,458,455.01. All charges for maintenance and repairs were as usual charged to current expense of operation at the time incurred and amounted for the year to $236,192.88. The finances of the Company are in good condi tion and it has no debts other than those in current process of liquidation. The volume of business done suffered a shrinkage in the aggregate of but two per cent, in' comparison with the year 1907, which was the largest in your history. The protection afforded by the varied character of your output was demonstrated most forcibly in a year of general depression and the early expectations of the management were more than realized in both tonnage and profit. The properties which you have from time to time acquired have also generally contributed to your prosperous condition and in no in stance failed to pay, not only fixed charges, but some additional measure of profit. Inventories at all points and of every charac ter have been as usual taken at protective values and lower than any raw material prices yet quoted. Business for the current year exceeds that of last but this was to be expected. It halts in some features and we do not look for confident trade until all doubt as to the future tariff is dis pelled. Competition is increasing but your position will be main tained by such conservative activity as may be necessary to protect trade. New articles are added to the list of your manufactures of lead in its various forms as its uses are extended or when it is found useful and profitable to conserve existing tonnage. One ii 0000-NLI-000017924 of the companies in which you are interested, and which makes shof on a large scale, has prepared plans for the manufacture of metallic and shot gun ammunition' but .these are held in abeyance for the time being. Your mining and smelting interests have a plant In process of erection for the manufacture of sublimed lead, a product which now enters into a variety of uses including ready mixed paints.i2 < . ir.ttnzonix 'i;o. ;- ^.Tj'jn-all departments your employees have shown their cus tomary interest and given renewed evidences of their loyalty and capacity.')"; >t -rn- v : -m :/rro'^ ^oopon:! jO ! J lo Fletcher W.1 Rockwell, a Vice-President, and one of the original incorporators of this Company and continuously a direc tor, died in Chicago, December .12, 1908, where for many years he a had directed its business, A useful and honorable life devoted to your interests has thus closed.to the sorrow of his associates. (Id'c'ioi or Lo'i/u-n', in: - r // Respectfully, :o: r id; !c tuj'-iiizfy^qry vri ->:lj Of!-; !!'iir; il.!'jV ,tn . .j florrr h.-rr apannof fin ni boxdroo :i;-d COLE, President. olr, y/sd fmiupoE srni; oi -nn'J mori s-'sn coy rr;.iari.-;. -n'; or; !V bur fiobiboo'' i.'f.r.f./n'!.': 'i.io ' oj f:-o rufri ; * rr- v ifinoijibbrs ore ox J r; d i Ov/fi '.'boo lor .vr.r . >: b >' . oriTcrio vro/o t ' ii'ir. -Joi'io iij a: < < ioiu-v/:i 1 ,;j i; ; nr.fit rov/ >: !'* >; -oib. -r.-sr .et-j ;< ; to oj ;urf-j: .bo io '.'o f n <oo! i ! . 1 aid; itref fari to md <o y, oov i< -- does ion ob -yt: bus -fT! IT:J0> i'roa n:. <(');!! t? lb > ". -ail) ri T.hi;J ofd : -o: oO,,,;, bino oi:/: r. ; -nuon od hi// o ;;-opj l rj u / ;,n! poo, ; o -j ro 1 : o; Jo of OK! )1 viraaooofl 0' i 'f.f.i >. s O M -or.o. OO ': ov0o - f1' 0 f' : - aoi'f: )ol;j!!.Grr mov t<> :-! o;! r i 'odobK iir, V. j; nofl v i'"' boboor' 'oo: coo; o`; ao ;po'b...o /cl1 .o;;or:rO); o; ru-r r ' oy-oc-ro: i ; >. 1,! i bo. 12 0000-NLI-000017925