Document QkNDBmoyr5qRrbRKLwabEvQj6

0000-NLI-000018219 N 2675 AN N U AL REPORT 0000-NLI-000018220 NATIONAL LEAD COMPANY 15 EXCHANGE PLACE, JERSEY CITY, N. J. Report to be Presented to the Stockholders at their Forty-eighth Annual Meeting, April 18, 1940, for the Fiscal Year Ended December 31, 1939 To the Stockholders of National Lead Company: The following is a Consolidated Balance Sheet and Earnings Statement of National Lead Company and all of its domestic subsidiary companies in which it owns all of the capital stock, for the twelve months ended December 31, 1939. The dividends received from foreign corporations owned in part or in whole, domestic corporations not wholly owned, interest, on bonds and miscellaneous items not directly connected with current operations, are included in the item "Other Income". Unusual deductions wdiich are considered as non-recurring are included in "Other Losses". Dividends on National Lead Company Preferred and Common Stocks owned by the Company itself are not included in this statement, either as disbursements or as income. Current Assets: ASSETS Cash ................................................................................................................................................................ U. S. Government Securities (Market Value $1,226,694.85)........................................ Other Marketable Securities, Domestic (Market Value $ 771,612.50)........... $ 516,928.53 Other Marketable Securities, Foreign (Market Value $1,750,843.34)........... 1,586,225.63 $11,294,413.53 1,159,923.90 2,103,154.16 Accounts and Notes Receivable................................................................................... $8,856,241.99 Less Bad Debt Reserve........................................................ '.................................... 774,448.27 8,081,793.72 Notes Receivable from Employees.......................................................................................................... 192,830.08 `Inventories (at Normal Prices, Excess at Cost or Market)............................................................ 19,300,473.02 Total Current Assets.............................................................................................................. Investments and Advances: Affiliated Companies (at book value in no case exceeding cost) : Domestic ....................................................................................................................... $6,017,157.05 Foreign ......................................................................................................................... 5,577,211.31 $11,594,368.36 $42,132,588.41 National Lead Company Capital Stock (29,883 shares Preferred A; 25,815 shares Preferred B; 3,210 shares Common) (Market Value $8,848,361.25)........................... Miscellaneous Investments (not listed on any exchange) : Domestic ...................................................................................................................... $ 358,658.29 Foreign ........................................................................................................................ 77,840.00 6,950,229.77 436,498.29 Total Investments and Advances.................................................................................... Fixed Assets: Plant Properties and Equipment--Gross Property.......................................................................... Less: Depreciation and Depletion Reserves......................................................................................... $77,867,229.55 31,313,825.75 18,981,096.42 46,553,403.80 Patents and Licenses...................................................................................................................................... Deferred Charges .......................................................................................................................................... 853,736.97 324.223.88 $108,845,049.48 9 LIABILITIES Current Liabilities: Accounts Payable, audited but not due.................................................... Tax Reserve .................................................................................................... Dividend Payable February 1, 1940 on Class B Preferred Stock. .. Total Current Liabilities......................................................... Reserves: Fire Insurance Reserve............................................................................... Employers Liability Reserve....................................................................... Pension Reserve ............................................................................................ Reserve for Contingencies........................................................................... Foreign Exchange and Miscellaneous...................................................... Capital Stock and Surplus: Capital Stock: Preferred Class A--Par Value $100 Preferred Class B--Par Value $100 Common--Par Value $10................... Earned Surplus ........................................ Capital Surplus ........................................ $ 4,228,644.97 2,158,164.07 116,193.00 ......................... $6,503,002.04 $ 4,797,284.02 426,664.30 2,927,633.23 1,000,000.00 166,542.67 9,318,124.22 Authorized $25,000,000.00 25.000.000.00 50.000.000.00 $100,000,000.00 Issued $24,367,600.00 10.327.700.00 30.983.100.00 $65,678,400.00 27,224,804.02 120,719.20 93,023,923.22 $108,845,049.48 DETAILS OF PLANT INVESTMENT Gross Property ....................... ...................... Less Depreciation and Depletion Reserves Net Property ......................... Dec. 31,1939 $77,867,229.55 31,313,825.75 $46,553,403.80 Dec. 31,1938 $76,677,585.59 29,818,432.89 $46,859,152.70 Increase or Decrease $1,189,643.96 1,495,392.86 $ 305,748.90 * The present normal stockB of the Company are as follows: j^ad 49,68714shorttonsvaluedat$0.03perpound ................................................ 1.1............................................................................................ 1,1244ashort tons valued at .21 per pound Antimony ' 1.................. Ill............................................................................................. 259 Bhort tons valued at .05 per pound Stocks in excess of these normais are valued at cost or market, whichever is lower. Contingent Liability: Guarantee Norwegian Bank Loan -- 1,500,000.00 Kroner (Value of Kroner 2/1/40 22.734). 0000-NLI-000018221 - 02 (-> <(-l a 3 00 X1"02 lw> _ 3 55( c s - 2o i <<h jfl o .c .2 ~"<o S M -p _bo y.2. jz_ <cmc uo oo - **0Mj) cl s3^QX"J`3 5t20 31 c$ oah JaS> UrS ,,*3 05 oO'co- e0) X2 a> -*-> -o ^ 73 . ' -MCv U 1 W co 3 a> u CL c -- ii +o-> p c o c P s > o - 3 Oi .+2j 0^2 cO -C ^ a r- . a; 2 du a 3 a) OL. >% * >> M 8. 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