Document QggXZej5xRO13R0Rm9b7Y28J6

REPORT OF ".R. H H. ANDERSON RELATING TO AUDIT 0? TH2 AJfACONDA SALES COttPAffT - EAST CHICAGO. IHDIAHA JAHUART 25TH, 1935 PERIOD COVERED BY AUDIT: Cash Audit General Audit September 12th., 1933 to September 30th, 1934, Inolusite September let, 1933 to August 31st, 1934, Inolusire THE RETIRED FOR AUDIT: 17 Da/s CASH: Cash Booh Balanoe - October let, 1934 Cash on Hand - Ootober 1st, 1934 (9:30 A Detail: Cheohs: 9/24/54 9/26/54 9/26/54 9/27/54 9/27/54 9/27/54 9/27/54 9/28/54 9/28/54 9/28/54 9/28/54 9/28/54 9/28/54 9/28/54 9/29/54 9/29/54 9/29/54 Sailer. Faint 4 Tiraiih Company Genaral Paint Corporation Tha P. J. Dononna Tarniah Company Darla Paint Company, Xna. Ilian & Wilson Thompaon - Hayward Cbamiaal Company Tha S. C. Waganman Paint Storaa Company International Shoo Company U. Whlta Thompson - Eaywari Chamleal Company Conaolldatad Printing Company St. Lonia - San Franoiaoo Railway Company Lillian D. Rowland St. Lonia Snrfaoor 4 Paint Company Tha S. C. Wagenman Paint Storoa Company Uiaaonri - Kansas Tszaa Railroad Company Meohanioa Paint Company $ 42.00 190.80 40.09 29.55 52.62 55.41 80.19 55.46 21.00 15.77 105.44 265.20 4.52 16.15 80.19 12.55 35.41 All of tba .bore ohaoka wera dspoaitsd on Ootobar 1st, 1934 $ 1,053.91 ^053^91 5 1,053.91 S0TS3 RZCBITABLE - OR KARP OCTOBSR 1ST. 1954: Date Due 8/ 1/34 8/ 1/35 8/ 1/34 8/ 1/34 8/ 1/34 8/ 1/34 6/ 1/34 10/24/34 11/20/34 1/21/35 3/20/35 5/22/35 Heme Keystone Pottery Company * Trenton, See Jersey Puritan Cosmetlos,, Ino. - St. Lonia,, Miaaonri Puritan Cosmetlos,, Ino. - St. Louis,, Uiaaonri Puritan Cosmetlos,, Ino. - St. Louis,, Missouri Puritan Cosmetlos,, Ino. - St. Louis,, Missouri Puritan Cosmetlos,, Ino. - St. Louis,, Missouri Interest Amount si t 36.50 7.59 7.59 7,59 u 7.59 7.62 t 74,48 TRADE ACCEPTANCES - OB HAND OCTOBER 1ST. 1934: 5/29/54 7/23/34 Lion Paint Company - Brooklyn, law Tork (Paid 10/17/34) 6 0001192 pNVO 2 gooses AND RECORDS CHECKED: CASH 300K: Footings of Cash Book Deposit Slips to Cash Book, Monthly Totals to Reports made to New York Offloe Postings to General Ledger Postings to Customers Ledger Cash Reoelpts In detail, as shown on Deposit Slips, to Cash Book September 12th, 1933 to September 30th, 1934, Inoluslve September 12th, 1933 to September 30th, 1934, Inclusive September 1st, 1933 to August 31st, 1934, Inclusive August, 1934 August and September, 1934 RECAPITULATION 07 CASH BOOK - SZPTEMBER 1ST, 1933 TO SEPTEMBER 30TH, 1934, INCLUSIVE: Ledger Balanoe - August 31st, 1933 - RECEIPTS: | None Customers Ledger Aooounts: Anaconda Lead Produots Anaoonda Zino Oxide Notes Receivable Trade Aooeptanoes $271,056.09 527,518.26 5,725.79 3,206.49 907,506,63 $807,506.63 DISBURSnraNTS: Deposits made In the Continental - Illlaels Bank and Trust Company, Chicago, Illinois, to the credit of the Anaoonda Copper lining Company - New York City, New York, September 1st, 1933 to September 30th, 1934, Inclusive Cheoks mailed, to Ur, James Dickson, General Auditor, for deposit in New York City $501,058.47 306,448.16 . 807,506,63 Ledger Balanoe - August 31st, 1934 None JOURNAL: Examined Journal Entries and oheeked same to Journal Footings of Journal Postings to General Ledger Postings to Customers Ledger Scrutinised Journal for all.large and unusual entries September and Deoember, 1933, April and August, 1934 September and Deoember, 1933, April and August, 1934 September and Deoember, 1933, April and August, 1934 August, 1934 September, 1933 to August, 1934, Inclusive \j ENNRAL L2DG : Postings from Cash Book Postings from Journal Footings of Ledger Aooounts Verified Trial Balanoe, as of September 1st, 1933 to August 31at, 1934, Inoluslve September 1st, 1933 to August 31st, 1934, Inoluslve September 1st, 1933 to August 31st, 1934, Inoluslve August 31st, 1934 CUSTOMERS LEDGER: Poetinge from Cash Book Postings from Sales Reoords: Anaoonda Lead Produots Anaoonda Zlno Oxide Postings from Journal Footings of Ledger Aooounts Verified Trial Balance, as of August, 1934 August, 1934 August, 1934 August, 1934 September 1st, 1933 August 31st, 1934 to August 31st, 1934, Inoluslve PNYC 0001A 983 BOOKS A5D RECORDS CHECKED: (Continued) CUSTOMERS LEDGER: (Continual) Milled Statements of Aooounts to Customers, stamped same with Auditor's Stamp and mailed in envelopes bearing return oard of General Office - Butte, Montana September 30th, 1934 SILKS RECORDS: Anaconda Lead Produots; Invoices to Beoord Footings of Seoord Totals to Journal Entries Postings to Customers Ledger August, 1934 August, 1934 September, 1933 to August, 1934 August, 1934 Inoluilve Anaconda Zlno Oxide (Alron A East Chloago): Invoioes to Bsoords Footings of Bsoords Totals to Journal Entries Postings to Customers Ledger August, 1934 August, 1934 September, 1933 to August, 1934, Inclusive August, 1934 CREDIT MBtORAHDUMS: Examined Credit Memorandums Postings to Sales Records September 1st, 1933 to August 31st, 1934, Ineluslve August, 1934 AOSHCY STOCK RECORDS: White Lead and White Lsad-ln-011: Sales made through Anaoonda Salts Company from Agency Steels Shipments to Agency Stools Zlno Oxide ; Sales mad# through Anaoonda Sales Company from Ageney Stools Shipments to Agency Stools August, 1934 August, 1934 August, 1934 August, 1934 STATaCSSTS OF CUSTOMERS ACC0UHT3: Examined Customers Aooounts ooverlng statements returned to the General Offlee - Butte, Montana, and the Bast Chloago Offloe, with notations of differences, and In each oaee I found the statement to be oorreot. In most oases payment ooverlng the aooount had been received in the East Chloago Offloe after Ootober 1st, 1934, and propsr credit had been given on the bools. GEWERAL LEDGER TRIAL BATAWCB - AUGUST 3IST, 1934 DR. Sew Tori Offloe t lOQQunts Receivable 54,171.38 Aooounts Payable ____________ Carried Forward | 54,171.38 CR. $ 43,755.69 10,927.43 $ 54,683.11 pAIYc 0011984 4 GSSSRA1 L5D0SR TRIAL BALftJCS - AUGUST 3IST, 1934 \ (Continued) Brought Forward Rotes Receivable Trade Aooeptanoes Receivable Whit# Lead Purchased White Lead in Oil Purohased Zino Oxide Purohased White Lead Sales White Lead In Oil Sales Zino Oxide Sales DR. $ 54,171.38 477.96 33.75 114,185.70 34,221.06 287,247.82 (490,337,.69 CR. $ 54,683,11 114,185.70 34,221.06 287,247,62 |490,337.69 CUSTOMERS LSDGZR TRIAL BALABCE - AUGUST 31ST. 1334: Amalgamated Paint Company American Paint and Supply Company Alpha Sign Servlet Asbestos Textile Company American Asphalt Paint Company loourate Insulated Wire Company An&orfer Long Company Akron Varnish Company Allen <4 Wilson Aasehl, Benjamin Aroo Manufaoturing Company Anaoonda Copper Mining Company (Be* York) Apex Color Works Amerloan Looomotive Company Anaoonda Wire A Cable Company (Hastings) Art Stained Shingle Company Atlas Paint A Tarnish Company Baer Brothers Berry Brothers Company Butoher Company, L. H. Boydell Brothers White Lead and Color Company Bovnes Company, Frank Boston Blaeklng Company Berg & Marksll Boysen Company, Walter B. Bailey Walker China Company Booth Lumber Company, Joe Boeton Insulated wire and Cable Company Banner Supply Company Boston Printing Ink Company Bruder A Sons, H A. Brown Lumber Company Bates Paint Serrioe Company Brinks Hardware and Furniture, W. C. Boston, 3. S. Baker Brothers Paint A Tarnish Company Clement Coverall Company Colonial Works Capital Paint and Tarnish Company Carried Forward DR. CR. ; 1,180,.01 I. 934..50 8,.55 270,,00 818,.63 81,,00 40..50 121,.50 32,.62 146,,62 405.,00 30,,05 584,.38 157,.86 8,,55 270,.00 67,.50 405,,00 120,.31 740,.97 405.00 243,,00 270,,00 276,.00 364,,88 81,.00 84.,38 253,.14 108,,00 32,,63 56,.03 42,,75 13,.50 35,,20 34..20 19,.25 91,,13 513,,00 270,,00 $ 9,211.84 $ 405.00 PNYC 00011985 CUSTOMERS LEDGER TRIAL BALAJTCS - AUGUST 31ST, 1934; {Continued) Brought Forward Chile Exploration Company Carroll - Dunham Smith Pharaaoy Company Cook 4 Dunn Paint Corporation Canfield Company, H. 0. Consolidated Paint Company Colgate - PalmoliTe - Peat Company Camden Pottery Company Chemical Sales Corporation Chamberlain Paint Company Collins, Daroust Paint Company CaTnegle Steel Company Conkling Armstrong Terra Cotta Company Clifford Company, James E. Creseent Ink 4 Color Company Detroit Graphite Company Deroe A Reynolds Company Doldge Korea Paint Company Du Pont De Honours Company, B. I. Darla Company, H. B. Donohua Tarnish Company, F. J. Dunn 4 Company, J. C. Donaldson Lithographing Company Donovan Paint 4 Lao^uer Company De Gregory Paint Stores Dannenbaua Paint Company Demuth Glass Manufacturing Company Denimer Hardware Company, R. D. Denlng Color Company Egan 4 Hausman Company Savenson 4 Son Eljer California Company Ewing, T. Sari ibassy Paint Company Suston Lead Company E. 1. B. Paint Company, The Fraser Paint Company Felton Sibley 4 Company Frenoh Wolf Paint Produets Company Firestone Footwear Company Fuller - Clarkson Company Firestone Tire 4 Rutter Company Flood 4 Conklin Frenoh, Williams 4 Grundy Goodyear Tire 4 Rutter Company Goldterg 4 Company, G. M, Globe Paint Works, Ine, General Eleotrio Company General Printing Ink Corporation General Paint Corporation Gladding, MoBean 4 Company General Paint Corporation Galloway Terra Cotta Company Gruenwald Hardware Company Good, Incorporated, James Globe Porcelain Company Howell Company, Charles H. Hill, Hentoohel Company Hanoook Paint 4 Tarnish Company Holliday Chase Company Hollingthead Company, R. K. Hastings Paint Company Henderson 4 Johnson, Ino. Hork Paint 4 Chemioal Works Hotel Hew Yorker Hatfield, J. H. Hotel Lexington / Carried Forward DR. $ 9,211.84 f 332.00 21.00 785.50 2,340.00 27.00 76.50 21.00 6.50 118.50 67.50 450.90 28.00 8.55 20.2S 712.50 1,065.50 84.00 345.00 2,401.50 40.50 270.00 40.50 40.50 252.00. 67.50 229.50. 53.87 121.50 510.00 105.00 168.84 43.38 67.50 72.60 84.00 40.50 243.00 270.00 126.00 270.00 20.25 .27 169.66 101.25 20.25 40.50 237.55 126.00 579.36 6.75 141.19 21.00 6.75 270.00 28.38 247,50 42.00 33.75 978.68 400.01 600.00 18,40 16.31 4.60 | 25,251.14 $ PNYC 00011986 6 075T0M5RS 1SDG2R TRIAL BALANCE - AU0V5T 31ST. 1934: (Continued) Brought Forward Hewitt Rubber Corporation Hopewell China Company Interborough Rapid Transit Company Ideal Laboratories Jamestown Wood A Finishing Company Jim Bid It Sign Company Judson Company, Dwight R* Krank Company, A. J. Keystone Tarnish Company Kolbs Paint Company Kentucky Color A Chemioal Company Keystone Pottery Company King'Palnt Manukatouring Company Laoleds Paint Manufacturing Company .Longman A Martinez Landers Segal Color Company Lynoh A Company, A. J. Lyons, Jim Latahaw, Howry Herohants A Manufacturers Paint Company Mathews Paint Company Murphy Tarnish Company Harrietta Paint A Color Company Hissourl Paoifio Railroad Company Mutual Paint Company Maher Company, Ban P. Malvern Lumber A Supply Company Mueller Hosalo Company Meohanlos Paint Company Masury A Son, John w. Mutual Palat Manufacturing Company Monmouth Paint A Tarnish forks Missouri - Kansas - Texas Railway Company MallInite Pottery Company Midwest Paint Manufaoturing Company Martin Company, L. Hiller, Ino., Meyer Madison A Company, George McKesson A Robbins McKesson, Langley A Hlohmels Company McKesson Western Wholesale Brag Company MoCutoheon Brothers A Quality MoKesson Buffalo Brag Company Ilesman A Company, Fred Horfolk Paint A Tarnish Company Bemltz A Sons, Georgs F. Batlonal Paint A Tarnish Company Borvioh Pharmaoal Company Batlonal Paint A Tarnish Works Vsw fork A Porto Rico Steamship Company Oakley Paint Manufacturing Company Okanlte Company Omo Manufaoturing Company Phelan Paust Paint Company Pierce Company, ? 0. Progress Paint Manufacturing Company Paraffine Company, Incorporated, The Parker Paint Works Pratt A Lambert Payson Tarnish Company Premier Oil A Lead Works Presoott, H. 3. Peoples Oil Company Pontlae Paint Manufaoturing Company Perkins Company, Dorothy Philipp Brothers r Carried Forward DR. 4 25,251.14 487.50 17.75 40.75 25.50 40.50 9.00 41.25 25.50 1,012.50 40.50 405.00 55.50 675.00 1.71 121.50 791.60 16.24 82.30 30.63 81.00 32.63 607.50 656.25 244.50 48.93 75.08 43.00 105.00 33.75 1,442.84 4.50 67.50 12.53 123.00 la.oo 16.31 153.89 13.25 318.75 25.50 20.25 65.26 12.75 24.06 1,398.94 6,56 42.00 127.50 619.11 170.50 210.00 13.50 10.13 526.50 243.00 241.50 270.00 128.75 283.50 270.00 16.31 54.00 76.99 42.27 12.75 196.25 * 38,377.51 $ $ CR. 555.00 555.00 PNYC 00011987 7 CUSTOMERS L2DGZR TRIAL 3AIAJC3 - AUGUST 31ST, 1934: (Continued) Brought Forward Parker Preston A Company Pure Oil Company Phyaioiane Hospital Supply Company Paragon Paint Company Pysol, Incorporated Paden City Glass Company Quinn A Sons Company, W. J. Rex Paint Company Rower Beine Paint Company Rogers Chemloal Company Ranetlte Manufacturing Company Roosen Company, H. D. Rioe Paint works Rubensteia, J. Ruth Company, J. Royal ChinaIno. Robertson Paint A Hardware Company Rubber Specialties Company Sherwln Williams Company Stewart Paint Manufacturing Company Sterling Tarnish Company Sillers Paint <S> Tarnish Company Sterling Paint Company Speed - 0 - Lag Produets Company Simplex Wire and Cable Company Smith Chemloal A Color Company St. Louis - San Pranelsoo Railway Company Swavely Paint A Tarnish Works Squibb A Sons, 2. R. Spenoer Company, ?. I. - ReoeiTtr Standard Chemloal Works, Ino* Standard Glass A Paint Company Shore A Company, H. 2. Sohulte Paint A Lacquer Company Sooony Paint Produots Company St. Louie A Southwestern Railway Company Sutoliffe Company, W.J. Sundry Employees Superior Produots Company, The Samuel Stamping A Enameling Company Thompson Hayward Chemloal Company (Kansas City, Mo.) Tlbbets - Carr Company Thomas Paint Company, A* H. Tyre Bros. Glass and Paint Company Tlmeproof Paint Produots Company Thompson Hayward Chemloal Company (St* Louis, Mo.) Triangle Conduit A Cable Company Unoolleotlble looounts: &iplr, Chin. Csipu; General Chemical A Sol-rents Company George Company, Wm. D. Indl. Lao^ner Company Lehman Brothers Hllltr Paint Coxpany Ohio Tarnish Company Phoanlx Paint 4 Varnlah Company Pruett Sahaffer Chemloal Company Sanitary Earthenware Speolalty Company Standard Paint 4 Load forki Tay Lo Paint Company Yomall Paint Company $ .36 16.69 118.50 270.00 63.BU 27.88 147.03 227.89 32.45 18.25 50.15 28.75 743.40 DR, ? 38,377.51 30.00 97,88 12.75 18.00 249.75 162.50 1.13 42.00 40.50 .24 6.68 697.80 81.00 231.38 40.50 119.25 30.00 13.50 48.13 459.63 920.50 84.00 30.00 480.00 862.50 497.46 535.75 ' 109.65 382.50 202.50 361.50 198.00 40.50 9.63 163.13 66.60 40.50 40.80 67.50 1,485.01 151.93 420.00 50.00 84.00 202.50 31.66 2.40 1,745,15 Carried Forward $ 50,026.00 $ CK, 555.00 555.00 PNYC 00011988 CUSTOMERS L5DG5R TRIAL BALAJTC5 - AUGUS? 31ST, 1934: (Continued) Brought Forward United Color and Pigment Company United States Stamping Company Union Paint Company Unlrersal Cheoioal Company Yaroraft Works Van4*rhllt Company, Ino., R. T. Valentine 4 Company Weber Company, F. Wage run an Paint Stores, S. C. Whitaker, Clark 4 Daniels Warner and Company, Vm. R. Waggener Paint Company Jfel.fcopf Paint Company, Henry West Paint 4 Tarnish Company Weatherhe.t 3tain*4 Shingle Company wishniok Tuipeer Company Western Sleotrle Company white Company, J* U* Whltlam Manufacturing Company Wooster China Company Waldo, Ino*, S. U. 4 P. Watson, Hallett 4 Company Wheeling Tile Company Warren Company Yarnall Paint Company Yoder and Gordon DR* $ 50,026.00 20.25 552.50 40*50 6.75 297,00 8*63 40*50 162.00 28*88 127.50 324.00 162,00 202*50 65*00 30*75 405.00 21.42 43.00 40*50 74.25 2*20 882.75 81.00 202*50 324*00 $ 54,171.28 CRe $ 555.00 10,372.42 $ 10,927.42 ACCOUNTS R3CIITABLS: The following Aooounts Reoeiwable as of August 31st, 1934, vers past due and remained wholly or partly unpaid at December 31et, 1934: CUSTODIES LEDGER: Jane and Remarks Last Payment Date Amount Balanoe 3/31/54 Art Stained Shingle Company Buffalo, Hew York 6/21/34 - Inroioe 958 $ 135,00 8/ 7/34 - Inroioe 1182 135,00 Hade payments of $135*00 in September, $35*0d........ ^ in Ootober, and $66*82 in Horember, 1934* Horeaber and December balance is $100*68* lov selling on eaoh order separate basis* Aotire aooount* Very slow but oolleotlble* 7/17/34 $ 40,25 $ 270.00 Apex Color Works Hew York City, H. Y. 4/ 1/34 Inroioe 640 (Balanoe) $ 500*00 8/14/34 - Inroioe 1234 84*38 Hade payments of $370.00 from Septsber to Deoeaber, 1934. Purchase of $438*75 from September to Deoember, 1934. December balanoe $653.13* Aooount will not be permitted to inorease. Trying to make arrangements whereby future orders will be aooompanled by a partial payment on the old aooount. Considered oolleotlble* 8/31/34 100.00 584.38 PNYC 00011989 ACCOUNTS R5CSI7A3L5: CUSTOMERS LEDGER: {Continued} (Continued) Name and Remarks K. 0. Canfield Company Bridgeport, Conn. 3/ 1/34 - InTOioe 345 3/12/34 - Inyoioe 495 4/ 1/34 - InTOioe 342 4/17/34 - InTOioe 518 5/ 4/34 - InTOioe 891 6/ 1/34 - InTOioe 710 6/ 8/34 - InTOioe 834 7/ 8/34 - InTOioe 1261 8/ 2/34 - InTOioe 1104 $ 240.00 240.00 240.00 270.00 270.00 270.00 270.00 270.00 270.00 Made payments of $2,610.00, and purohaeee of $1,080.00, from September to December, 1934, reduoing the account to $810.00. A good aooount-but usually sloe. Jas. H. Clifford Company Lawrence, Uasa. 5/16/34 - InTOioe S-137 $ 8.55 In hands of Fifth ATenue ProteotiTe Association, Hew York City, for collection. Krpeot payment soon. truth Glass Hanufaturlng Company Brooklyn, New York 5/ 2/34 - InToiee 389 5/19/34 IsTolee 1085 $ 27.00 33.75 6/ 5/34 - InToiee 752 6/27/34 Inrolos 1034 33.75 33.75 7/ 6/34 - InToiee 1291 7/19/34 - InTOioe 1459 8/ 9/34 - InToiee 1214 33.75 33.75 33.75 Reduoed the aeoount to $135.00 by December 31st, 1934. Chronic slow pay. Good oredlt rating and considered a safe aooount. Egan & Hausman Company Long Island City, Hew York 3/20/34 - Inroio# 609 $ 240.00 5/22/34 - Inroio. 1095 135.00 7/ 6/34 - Inroio. 1269 135.00 Paid $240.00 In Septemb.r and $135.00 In Ootob.r. The HoTember and Deoeaber balanoe is $405.00. Very slow. How selling on eaeh order separate basia. Considered collectible. Henderson Sk Johnson, Ino. Gloucester, Mass. 6/ 6/34 - Inroioe -6/ 9/34 InTOioe -6/14/34 InTOioe -6/26/34 InTOioe 778 826 362 558 $ 48.13 6,75 33.75 40.50 -7/10/34 7/12/34 InTOioe 1309 InTOioe 631 33.75 40.50 -7/25/34 7/31/34 InTOioe 693 InToiee 971 8/ 9/34 InTOioe 1220 8/ 9/34 - InTOioe 640 40.50 33.75 81.88 40.50 HoTember and Deoembtr balance la $365.63. An,.old ooncern. Very slow pay but considered good. How selling on each order separate basis. Making speolal effort to reduoe the aooount. Last Payment Date Amount 6/19/34 $ 480.00 5/23/34 3.88 6/14/34 75.00 5/21/34 230.00 8/15/34 81.00 Balance 8/31/34 $2,340.00 ' 8,55 229.50 510.00 400.01 pNVC 0001199 10 ACCOPHTS RSCSITABIJ: (Continued) CUSTOMERS LEDGER: (Continued) Name and Remarka Hastings Paint Company eat Springfield, Masa, 5/21/34 - Inroioa -6/19/34 Inroioa 6/19/34 Inroioa -6/23/34 Inroioa .. 6/25/34 Inroioa 7/ 2/34 7/ 3/34 -7/11/34 7/11/34 7/13/34 .7/13/34 -7/13/34 -8/ 7/54 -8/ 7/34 -8/20/54 Inroioa Inroioa Inroioa Inroioa Inroioa Inroioa Inroioa Inroioa Inroioa Inroioa 8/20/34 Inroioa 435 464 918 552 1024 1249 557 1365 623 655 1435 525 1166 634 724 1350 (Balanoa) $ 50.00 81.00 33.75 81.00 50.63 33.75 81.00 33.75 81,00 81,00 33,75 8.55 33.75 81,00 31.00 33,75 September, Ootobar and lorambar purohaaea amounted to $238.05. Deoembar balane* $559,83, Chronic alow pay* Will make apaolal arrangement* to radue* tha account, Collaetibla but rary alow* Kayeton* Pottary Company Trenton, law Jeraay 7/10/34 - Inroioa 1319 8/14/34 - Inroioa 1174 53.23 2,28 Yery alow pay. Poor orodlt ratine* 9* * desirable aooount* Erpaot to make aollaetlon aTaatually* King Paint Manufacturing Company Brooklyn,- law York 6/13/34 Inroioa 6/21/34 Inroioa 7/13/34 Inroioa 8/22/34 Inrole* 8/27/34 Inroioa 428 500 633 734 764 * 133.00 135.00 135.00 135.00 135.00 Their lattar of January 5th, 1935 atataa that due to poor oollaotiona thay ara unabla to pay at praaant. Promiae to make a payment aoon. Credit raporta Indicate that moat oonoema aall thaw on C.O.D. baaia only. Sowawbat doubtful aooount. Kallinit* Pottery Company, Ino. Lo, Aacel,,, California 11/ 6/33 - InTolo, 1715 12/18/33 - Isrole, 1566 $ 40.50 40.50 1/ 2/34 - In-role, 241 42.00 Material delivered by A. J, Lynoh 4 Company, our Agent*, without oradlt approval. Gone out of buainaaa. Compromised tha aooount with A. J. Lynoh 4 Company by aarumlng half of tha loaa. Cloaad tha aooount in Baoambar, 1934. G. 7. Semite 4 Sons Butohlnaon, Minn. 2/28/34 - Inroioa 88 (Balanoa) I Controraray on an Item of Freight. fill ba adjusted. A good aooount. 6.56 Last Payment Bata Amount 8/22/34 $ 129.50 6/ 4/34 71.00 8/24/34 270.00 . 4/19/34 120.00 Balanoa 8/31/24 $ 378,68 55.50 123,00 6,56 PNYC 00011991 11 ACCC7T3TS RSCSIVABIS: (Continued) C7STCMZRS IZDOSR: (Continued) Name and Remarks Orno 'Manufacturing Company, Inc. Middletown, Conn. S/25/34 - Invoice 1400 $____10.13 Deoember balance $30.39. promised a payment on January 10th, 1935 but failed to make good. Somewhat doubtful aooount. Last Payment Date Aaoflt 6/19/34 J 18.00 T. 0. Plsro. Company Brooklyn, Hew York 6/ 1/34 - Invoioe 6/15/34 - Invoioe 312 440 t 40.50 40,50 7/ 6/34 - Invoioe 575 40.50 8/ 2/54 - Invoioe 8/17/34. - Invoioe 8/22/34 - Invoice 604 700 742 40.50 40.50 40.50 Made paymentsi of $81,.00 in September and $81.,00 in Ootober. Deoember balance is $293.50. Promise payment in full in January, 1935. Good but usually slow. 8/16/34 121.50 Parker Paint Horks Rochester, Hew York 3/ 9/34 - Invoioe 503 (Balanoe) $ 129.75 Made payments of $39*75 in Ootober and $30.00 In Hovember. In their letter of January 3rd, 1935 they promise another payment soon. Xzpeot to make eolleetion In full. 8/ 2/34 50.00 Parker Preston Company Herwieh, Conn. 10/19/33 - Invoioe 2492 (Balanoe) $ 30*00 In hands of Fifth Avenue Protective Association, How York City, for oolleoticn. Doubtful aooount. Standard Glass A Paint Company Berkeley, California 2/26/34 - Inroloo 304 3/31/34 - Inrolo. 795 5/26/34 - Invoioe 1225 8/13/34 - Invoioe 1180 8/20/34 - Invoioe 1362 $ 30.00 60.00 33,75 40.50 33.75 Paid $123*75 in September. The Hovember and Deoember balanoe is $249.75. A Builders Supply concern. Our agents, L. H* Sutohor A Co., Is handling the aooount. In their letter of January 10th, 1935 they promise a payment soon. How selling on C.O.D. basis only. Very slew but considered oolleetible. 7/27/34 3/27/34 27.50 31.25 Tibbetts - Carr Company Los Angeles, California 3/ 1/34 - Inrolo. 139 $ 42.00 3/ 5/34 - Inrolo. 149 42.00 4/ 2/34 - Invoioe 5/22/34 - Inrolo. 6/ 4/34 - Invoioe 7/ 2/34 - Invoioe 7/ 9/34 - Invoioe 8/20/34 - Invoioe 160 477 562 605 607 676 84.00 42.00 42.00 42.00 84.00 42.00 Payments and purohasea September to Hovember were $252.00, leaving the balanoe at $420,00, as of Deoember 31st, 1934. Our Agents, L. H. Butoher A Company, are trying to make arrangements whereby an equal amount will be ypald on the old balanoe with each delivery on a C.O.D. basis. This oonoern laoks working oapltal. Hot a eafe aooount. 9/29/34 61.00 Balance 8/31/34 $ 10.13 243.00 128,75 30.00 198.00 420,00 PMYC 00011992 12 ACCOSTS RECEIVABLE: CUST0?fE3S LECCER : (Continued) (Continued) 3ane and Remarks A. K. Thomas Paint Company 7/averly, New York 7/26/34 - Invoice 2009 (Balanoe) $ 50,00 Has been operating under a creditors agreement sinoe August, 1934, F, E, Baoker appointed Assignee, Our assignment filed 8/22/34, No prospects of oolleotion in the near future. Doubtful aooount, J. C. Whitlam Manufacturing Company Wadsworth, Ohio 5/28/34 - Invoioe 419 $ 43,00 Credit reports lndloate that the business of this conoern has been falling, though the ourrent assets in proportion to ourrent liabilities is still favorable. They laok working oapital. Some prospeots of making oolleotion eventually. Last Payment pate-------- Amount 7/ 5/34 $ 50,00 6/20/34 40.50 Balance 8/31/34 50.00 43.00 UNCOLLECTIBLE ACCOUNTS The following inaotlve aooounts, the status of which has been definitely established have been transferred to one aooount, "Unoolleotlble Aooounts", Some payments are expeoted on a few of the aooounts before they are charged off: General Cheoioal 4 Solvents Company Ashland, Mass, 9/ 7/32 - Inrolo. 1803 t 16.69 Went into Bankruptcy January 30th, 1933, J. I. Hanfltg appointed reoelver. Our claim filed February 9th, 1933. No assets left for distri bution to oreditors. Aooount written off in December, 1934, Wm. D. George Company, Lt'd. Los Angeles, California 6/10/33 - Inrolo. 712 $ 37.30 6/28/33 - Inrolo. 1010 40.30 11/17/33 - Inrolo. 1731 40.50 Went into Bankruptcy In April, 1934. George Gardner appointed Reoeiver, Our olalm filed April 24th, 1934. A SjC dlrld.nd ot $5.93 w.s reeeived November 10th, 1934. No further dividends are expeoted. Aooount written off in Deoember, 1934. India Laoquer Company Los Angeles, California 8/19/33 - Invoioe 1958 10/11/33 - Invoioe 2344 1/17/34 - Invoioe 175 | 215.00 248,75 52.50 Less payments Maroh, April, Juns * 516,25 and August 246,25 Operating under a Creditors Extension Agreement inoe February, 1934, Making good progress and dividend payments of approximately 40 have been reoeived. Expeot oolleotion in full but will be slow. 12/14/32 8/23/33 8/14/34 17,31 37,50 65.00 16,69 118.50 270.00 wo"395 ACCOSTS RECEIVABLE: (Continued) CUSTOMERS LEDGER: (Continued) UNCOLLECTIBLE ACCOUNTS r (Continued) Name and Remarks Last Payment Date------------ Amount Lehman Brothers 12/ 5/33 j 3,54 Jersey City, New Jersey 10/ 1/29 - InTOioe OS-4384 (Balanoe) $ 60.42 12/26/29 - InTOioe OS-4363 3.38 This Company has been operating under the direotion of a Creditor's Committee sinoe March 1st, 1930. A little progress has been made. Dividends of 9$ have been paid, and further dividends are expeeted, but reoovery in full is very doubtful. W. H. Miller Paint Company Dallas, Texas 10/10/33 - Invoioe 2342 11/ 1/33 - Invoioe 2563 11/17/33 - Invoioe 2795 $ 4.94 4.94 12.00 12/14/33 - Invoioe 2660 6.00 Owner deoeased. Estate olosed. All assets disposed of and distribution made to Creditors. Final dividend of 31^ received September 24th, 1934. Aooount written off in September. Ohio Tarnish Company Cleveland, Ohio 5/ 1/31 to 10/12/31 - Tea Invoioes Less amount written off in Deoember, 1933 $ 885.01 700.00 6/ 8/34 18.99 $ 185.01 Less dividend payments of $18.99 In Ootober, 1923 and $13.99 in June, 1934. 37.98 This Company went into hands of a Receiver on November 4th, 1931. Our proof of olalm was filed February 5th, 1932, with Wm. L. Day, Receiver. The assets of the Company were sold to the Chi-Haael Company on January 17th, 1932 for approximately $120,000.00, but they failed to fulfill their oontraot on the Installment payments and their notes have been sold to the imerloan Asphalt Paint Company at a discount; $85,606.70 for $55 ,000.00, payable In semi-annual installments to April 1st, 1935. Dividend payments of $66.47 have been reoelved and two more small dividends are expeoted from proeeeds of sale of the business. Most of the above balanoe will be a loss. Phoenix Paint A Tarnish Company Philadelphia, Pa. 6/ 3/31 - Invoioe OS-906 (Balanoe) $ 10.39 7/15/31 - Invoioe OS-947 217.50 Bankrupt. Proof of Claim filed February 4th, 1932, with David Werner Amram, Referee in Bankruptcy, The above payment represents a dividend. Some funds are available for distribution to oredltors but are held up due to litigation over olaims for wages, eto., whioh will be settled soon. A small final dividend is expeoted. Most of the aooount will be a lots. 6/ 6/32 7.05 Balance S/31/34 $ 63,30 27,86 147.03 227.39 PNYC OOOII994 14 COUNTS RECEIVABLE; (Continued) CUST0:i5RS IZDQER: (Continued) 7NC0LIECTIBL5 ACCOUNTS: (Continued) Name and Remarks Last Payment Date----------- Amount Pruett Sohaffer Chemical Company Pittsburg, Pa. 8/ 7/33 - Invoioe OS-1680 9/21/33 - Protest Fees on Cheok $ 30,00 returned 2,45 This Company is having financial difficulties, and a proposed plan of re-organisation is in process of consummation. Under this plan the creditors would reoeive stook in the new organisation to cover their olalms. Any recovery seems very unlikely. This account was written off In Dsoember, 1934, 10/16/33 t 39,00 Sanitary Earthenware Specialty Company Trenton, New Jersey 11/ 9/32 - Invoioe OS-2275 $ 18.25 Operating under a Creditor's Advisory Committee. Aooordlng to reports received no progress has been made. Bo reoovery is expeoted. Aocount written off in December, 1934. 11/11/32 18.25 Standard Paint A Lead Works Cleveland, Ohio 5/19/31 - Inroioe 497 (Balanoe) $ 50.15 Went into bankruptcy in March, 1934. Ho assets for distribution to Creditors, looeunt written off in Deoember, 1934. 11/14/33 15.00 Tay Lo Paint Company Savannah, Georgia 5/ 9/32 - Involoe 1165 $ 28.75 Aocount in hands of Chloago Assool&tlon of Credit Men for oollectlon* Report no prospeots of reoelving payment, Aooount written off in December, 1934. Yarnall Paint Company Philadelphia, Pa. 11/ 2/32 to 4/26/33 - 12 Invoioea Less: Cash payment of 5/22/33 $1,134.00 72q q 8/31/34 106.20 Less: 3 - lOjC Dividend Payments $1,062.00 318,60 Rave been operating under a Creditor's Extension Agreement slnoe May 16th, 1933. Have been making very good progress. Letter of Deoember 15th, 1934 from Wa. MaoXnlght, Secretary and Treasurer, states that they expeot to eventually pay out in full. This was a high grade oonoern with considerable oapital, and present financial reports indloate a good ourrent position. Another lOjC dividend was reoelved on Deoember 17th, 1934, making 40< recovery to date. Interest is also paid with each dividend payment. Prospeots of full reeovery la favorable. Balanoe 6/31/34 $ 32.45 18.25 50.13 28.75 743.40 PNYC 00011995