Document Vj2gzdp7oyqRRVbEEN83LKGnj
To the Stockholders of National Lead Company'.
The following is a Consolidated Statement of National Lead Company and all of its domestic subsidiary companies in which it owns all of the capital stock, for the six months ended June 30, 1935. The dividends received from foreign corporations owned in part or in whole, domestic corporations not wholly owned, inter est on bonds and miscellaneous items not directly connected with current operations, are included in the item
"Other Income." Dividends on National Lead Company Preferred and Common Stocks owned by the Com pany itself are not included in this statement, either as disbursements or as income.
Fr ed M. Ca r t e r , President.
Current Assets:
ASSETS
Cash .......................................................................................................................................................................... $ 4,330,137.65
U. S. Government Securities
(Market Value $1,228,688.41)............................................
1,147,888.29
Other Marketable Securities, Domestic (Market Value $3,878,408.25)............... $ 3,251,032.13
Other Marketable Securities, Foreign (Market Value $4,075,698.05)............... 3,501,066.06 6,752,098.19
Accounts and Notes Receivable.......................................................................................... $1029927230
Less Bad Debt Reserve............................................. .......................................................
592,208.86
9,707,063.44
Notes Receivable from Employees................................................................................................................. inventories (at Normal Prices, Excess at Cost or Market)..................................................................
319,173.14 17,032,881.34
Total Current Assets..........................................................................................
Investments: Securities of Affiliated Companies (at book value, in no cases exceeding cost)
Domestic ............................................................................................................................... Foreign ...................................................................................................................................
$ 4,819,455.93 6,251,932.43
$11,071,388.36
$ 39289242.05
fNational Lead Company Capital Stock (34,883 shares Preferred A; 25,815
shares Preferred B; 321 shares Common)..............................................................................................
Miscellaneous Investments (not listed on any exchange).........................................
Domestic ............................................... .............................................................................. $ 440,645.43
Foreign ..................................................................................................................................
535,720.66
7,654,510.57 976,366.09
Total Investments ................. Fixed Assets:
Plant Properties and Equipment (net) Deferred Charges .........................................
19,702265.02
44225,535.08 437,01526
$103,654057.41
LIABILITIES
Current Liabilities: Accounts Payable, audited but not due........................................................... Notes Payable......................................................................................................... P,gscrv6 Dividend Payable August 1, 1935 on Class B Preferred Stock..............
$ 3,467,137.68 600,000.00
1,085,571.51 116,193.00
Total Current Liabilities...
Reserves: Employees Life Insurance Reserve... Fire Insurance Reserve...........................
Employers Liability Reserve.................
Plant Reserve........................................... Promotion Reserve ................................. Foreign Exchange and Miscellaneous
$ 5268,902.19
$ 3,000,000.00 4,797,284.02 426,664.30
2.500.000.00 1.500.000.00
249,031.61
12,472,979.93
Capital Stock and Surplus: Capital Stock: Par Value $100. Preferred--Class A................. Preferred--Class B ................. Common .....................................
Authorized $25,000,000.00 , 25,000,000.00 . 50,000,000.00
Issued $24,367,600.00
10.327.700.00 30.983.100.00
Surplus
$100,000,000.00 $65,678,400.00 20233,77529
Total Capital Stock and Surplus....................................... ........................................... .......................................
85,912,17529
DETAILS OF PLANT INVESTMENTS
$103,654,057.41
*
Gross Property............................................................................ Less Depreciation and Depletion Reserves.........................
June 30,1935 Dec. 31,1934
Increase
$74,951,965.61 $71,479,118.48 $ 3,472,847.13
30,726,430.53 30,082,131.45
644299.08
Net Property.......................................................
$44225,535.08 $41,396,987.03 $ 2,828,548.05
* See page 4.
t See page 4.
0000-NLI-000018172
CONSOLIDATED EARNINGS STATEMENT
For the Sz Months Ended lone 30, 1938
Sales ................................................................................................................................................ Cost o Goods Sold, Taxes, Depredation, and Other Expenses.................................
Six Months Ended June 30th.
IMS
1934
$32,064,071.16
$29380.628.08
30368,336.46
27,912,729.16
Net Operating Profit............................................................................................................. $ 1.79S.734.70
Other Income ...............................................................................................................................
819,775.11
$ 1,467,898.92 598356.41
Total Income ................................................................................................................... $ 261530931 Dividendson PreferredStock Outstanding:--Class A................................... $730,77530
--Class B.......................... 232,386.00 963,16130
$ 2,06675533
$730,74225
232686.00
963,12825
Amount Earned on Common Stock..................................................................;............. $ 1,652348.31
$ 1,103627.08
ANALYSIS OF CONSOLIDATED SURPLUS
1935
Surplus--Beginning of Year............................................................................................
$22,413306.99
Add: Net Income Six Months................................................................................................. 2,615,50931
1934
$21,497258.61 2,06635523
$25,02931620
Deduct Dividends:Preferred Stock Outstanding--Gass A.................... $730,775.50 Class B..................... 232386.00 $ 963,16130
$23364.013.94
$730,74225 232386.00 $ 963,12825
Common Stock Outstanding............................................................. tl4% Stock Dividend............................................................................
77223625 3,059343.76
678,683.75 .........
Total Dividends .................................................................................... $ 429534131
$ 1,6*1,812.00
Surplus at June 30th................................................................................................................... $20233,77529
$21322201.94
The present normal stocks of the Company are as follows:
Lead .............................................................................................................. 49.687V4 abort tons valuedat $0.03 per pound.
Tin .................................................................................................................... 1,124*4short tons valued at JSl perpound.
Antimony ........................................................................................................
259 short tons valued at .05 per pound.
Stocks in excess ofthesenormals are valued at cost ormarket whichever ia lower.
tA Stock Dividend toCommonStockholders of 14% payable In CommonStock was paid on January IS, 1935 out of Common Stock held by the Company in its treasury.
0000-NLI-000018173