Document VjRnmErjQK4aK5MwNv3JaR4Qg

I 1 1 l 1 r i..< i 2700 MOODY'S INDUSTRIAL MANUAL PLAINTIFF'S EXHIBIT REGISTRAR--First Nations! City Bank, New (On no par shares alter 4 for l stocK spilt) flJPlua $10 in prefe Yorx. ' 1928_____ 0.25 1929___ 1.40 . 1930-31 2.00 Plus $0.70)4 per <1 TRADED--OTC. 1932_____ 1.50 1933... 120 1934___ 1.8Q and $1.41 per snare In 6?, second' 2. Melville Shoe Carp, common; par SI: 1935_____ 2.87ft 1936-37 5.00 1938___ 3.00 (both issues since retired). All] AUTHORIZED--30,000,000 shares; outstanding Dee. 3X, 1973. 24,552,311 shares; reserved lor options, 767,490 shares; reserved lor conver sion of debs., 781,290 shares; par $1. Par value chanced uom no par to $1 par In 1939--see recapitalization below; 31 par shares split 2for-i Aug. 27. 1946, 2-{or-l, Apr. 10, 1968 . 2-for-l Apr. 14. 1970 and 2-for-l Apr. 11. 1972. Dividend Record (in 9) 1939_____ 4.00 .. (On 21 par thares) 1940_____ 2.25 194)____ 225 1942-45 2.00 1946_____ 1.50 (On |1 par shares alter 2 lor 1 split) 1946......... 0.40 1947__ 1.65 (1948-5? 1.80 1958_____ 1.35 1959___ 125 1960___ 1.5214 1961-62.. 1.60 1963___ 140 1964____ 0.80 1965......... 1.00 1966___ 145 1967___ 1.60 1968......... 1.10 (On Si par shares alter 2 for 1 split) prior to capital change. ... H)To Feb. 1. ** (SiAlso in 1955 1/20 share of $4 ferred for each share held. Dividends payable Quarterly Fet _ to stock of record about January 19,1 DIVIDEND RESTRICTIONS--See ! debt above. VOTING RIGHTS--One vote per ; PREEMPTIVE RIGHTS--None. (Old 9100 par shares) 1915___Nil 1916______ 5.00 1917__ 10.00 0)1918____ 7.50 1919______7.50 1968... 045 1969___ L30 1970__ 0.75 TRANSFER AND DIVIDEND DI - (On Si par shares after 2-for-l split) AGENT--Irving Trust Co.. New Yc 1970___ 0.371,4 1971____ 0.80 (91972_ 0.416 REGISTRAR--First National City (No par shares) (On $1 par shares after 2-for-l split) York. - (1920-25 2.00 1926_____3.00 1927____ 3.00- 1972... 0.208 1973___ 0.445 (91974__ 0.116 LISTED--On NYSE (Symbol: MESK3 (1928... 3.00 fflPiua $2.50 in preferred stocn. ed trading on Boston Stock Exchanged WESTINGHOUSE ELECTRIC CORPORATION CAPITAL STRUCTURE LONG TERM DtlBX issu<: 1. Debenture 3fta. 1981___ .... 2. Debenture 53,sa, 1992 ___ .... 3. Debenture 8)48. 1995 ________ 4. Coral Ridge Properties Inc. debs. 6)is. 1977 ...................... 5. Other subsidiary debt Bating A A A Outstanding $105,000.0001 164,000.000 ( 200,000,0001 2.218.0001 200.509.000j Times 1973 1972 4.76 7.10 Interest Dates U6cDl5 A&O 1 M&S 1 A&O 1 Call Price 100 micstt 106V* 100.84 1973 78 - 71 83>6- 75 I12ft-102 85 85` 112) CAPITAL STOCK Issue 1. 3.80% preferred, B 2. Common _________ _ Par Value $100 $3,125 Amount Earned per Sh. Outstanding 1973 1972 304820 aha. $531.23 $651.75 88,320224 aha. 1.82 224 Diva, per Sh. 1973 1972 Si 80 $3.80 0.972 0936 CaU Price 101 Price 1973 64 54 63 47ft- 24 ft Subject to change; also callable for sinking fund, see As reported by Company based on average shares. HISTORY On May 11, 1970 acquired Seven Up Bott Westinghouse Electric Surer neIsnscoasrpTohraetewderiunnPgneonunsseylvEalenicat.ricBecga~nwbtuucsbi was incorporated on Jan. 8. 1886. In 188$. the charter of the Charaers Improvement Co., which was incorporated in Pennsylvania 00 Apr. 9, 1872, with a capital ot $&o.ooo, was pur* chased and the name of Charuera Improve ment Co. was changed to Westtngnouse Elec tric & Mig. Co. and remained so until changed to present title on May IQ. 1945. Stock of the letter company was exchanged for the stock of The Wettlnghouse Electric Corn. Subsequently acquired control of vari ous coxnoonies. such as walker Co,, Cleveland, Ohio; Bryant Electric Co. and Perkins Electric Switcn Mtg. Co., in ana Defore 1900; ano various properties in 1915, 1916. 1917 and luzu, described in detail in Moody's 1939 Industrie, Manual - For acquisitions, mergers, etc., in 1932-1960 inclusive, see Moody's 1968 Industrial Manual On June so. 1961, acquired Thermo King Corp., Minneapolis, for f46,667 shares. ___ In Apr., 1962, acquulijred radio station WINS. New York for $10.000,000. ling Co. of Southern Indiana, Inc. and Seven Up Bottling Co. of Indiana. Inc. for 70,352 common shares. On Sept. 9, 1970 acquired Southern Pre stressed Concrete, Inc. for 83,045 common shares. . On Oct. 30, 1971$ merged Americar, Inc. through exchange bf 124,769 common shares. On Oct. 31. 1976, acquired Ideal School Supply Co, for 67,530 common shares. On Dec. 23, 1970 merged Longines-Wlttnauer Watch Co., Inc. through exchange of 776,822 common shares. On Mar. 5, 1971, acquired Maintenance En gineering Corp. for 22,011 common shares. On July 29, 1971, acquired Midwest Pre stressed Concrete, Inc. for 20,856 common shares. In June-1972, Co sold its Portable Home Appliance Business to Scovllle Manufactur ing Co. >n July 13, 1972. acquired Boyle Construc tionCo. lor 4,470 common shares. On Aug. 4, 1972, acquired Host Enterprises, Inc. for 377,109 common shares. (Netherlands) Ateliers de Constructions El .. Charleroi (Belgium) (68% owns Joint Ventures: In Apr. 1972,' and Tenneco Inc. (see Moody's PubL Manual) formally authorized a joint- to be called Offshore Power ' make platform-mounted nuclear: In Mar. 1972. Company and (see Moody's OTC Industrial ' nounced plans to develop a 330-ac tial community at Cedar Cove;' Chesapeake Bay at a cost of $35/ will be represented by its Utt Development Corp. subsidiary venture to build 1,400 homes, tot apartments during the next 6 development also will have recreational centers and marina-fat 1,500 boats. Construction is to begin! Also in Mar. 1972, Commp; any a wealth Edison Co. (see Moody's ity Manual) opened Zion Nucleai* Center, in Zion, UL. a $5,500,000 30/1 training center for operators In Apr. 1963, acquired for 132,000 shares. In Sept. 1972, acquired Linguaphone Insti SControls Division of Hagan Chemicals & Con tute Ltd. lor $9,975,000 cash and notes. wer plants. Commonwealth Ed . e building and land for the cent trols, Inc. Transaction also Involved Hagan In Dec. 1972, acquired Sterwech BV. Zan- supplied the equipment and name. dam, Holland. also operate the facility. On Dec. 4, 1965, acquired I-3Q> Furniture Co.. Inc., Indiana lor 139,774 common shares. In 1966 acquired Coral Ridge Properties, Inc. for 540,119 common Mures; DECO Elec tronics Inc., Vfcrgrirria; Seven-Up Bottlers of Fairfield County Inc., Conn.; Sevexv-Up Bot tling Co. Inc., Puerto fttco, Ml withydommon stock; Radio Station KFWB. Lorn Angeles; Lighting Inc., Puerto Rico ana Lincoln wamn In Feb. 1973. acquired Controlmatic GmbH Nleder-Esehbach, west Germany for $2,103, 093 cash. - In Apr. 1973 sold Its ft interest In Com- pagnie Generate de Radiologle. In Aug. 1973, acquired majority interest In Fabrlcadonde Electrodomesticos S. A. for $4445,983 cash. - . , In May 1972,'Co. announced it gate In a $100,000,000 joint PC Development Corp. to bt die-income housing units on a 36 just south of the St G-eorge 1 on Staten Island. N. Y. The velopment is to include 3 cl stent towers ranging from 1 shopping areas; restaurants; < Air Heating Equipment Ltd_ England by cash. Radis &>DscrsatFordstallaqf conatnt care center; marina, and re In 1967.- acquired Sanford Brothers Corps* decree in radio anti-trust suit, sea Moody's ties. ____ . a group of. seven firms specializing ln con IMOt Industrial Manual. . .. - Is Nov. I9TC, Co. and Steag" . ventional diving service,.- salvage, construc tion and. maintenance.forpetsoleum. indus SUBSIDIARIES A AFFILIATES"" ' `"'5 West Germany,. agreed, to design and manufacture nucle try for 46,094 common shares. On May -6, 1968 acquired assets of- K. W Battery Co- Skokie, RL, -through- subeidi- ary.for.82.000 commonrahares. - On July 3L- 1969 -acquired'-Hub Electric Co. Inc. for 27^99.common'shares,. j On Seph.30^-1969 acquired Seven Up Bottling Co. of Los Angeles, loc^Seven Up Bottling Co..of San Bernardino, Inc..and 7-up.Bottling Co. of Bakersfield, Tiv- Through subsidiary, for 499.031 common shares:.- . - On .Sept. 2, 1969 acquired net assets and business of Intercounty Construction Corp. which is engaged primarily jn construction and installation of water and waste treat ment systems. ;. On Dec. 22, 1969 acquired C- W. Blakeslee it Sons, Inc., a heavy construction and gen eral contracting business, for 145,161 common shares. On Mar. 2, 1970 acquired C Sc C Con struction Co. Inc., engaged primarily in in stallation of water and waste treatment plants for industrial and municipal custom ers, for 83,983 common shares. - ' At.Dec :31,, 1973 Co., has included In its financial - statements 256 subsidiaries and affiliated companies. Listed"below .are cer tain.: subsidiaries. (Remaining' subsidiaries and. affiliated companies- (not listed, below), if-Consuitdteerreedd'min aggregate as a single sub sidiary;,'- ww>ould, not constitute a significant subsidiary. Associated Beverage Company. Inc. (DeL) Cebor Construction Company, Inc. (DeL) Coral Ridge Properties, IncTfPel.) . C. W.Blakesle* 4c Sons, Inc. (Conn.) . Econo-Car International Inc. (DeL) Longines-Wlttnauer, Inc. (DeL) Luxaire, Ine. (Del.) _ Thermo-King Corp. (Del) Tyree Industries, Ltd. (Aust) (69% owned) Urban Systems Development Corp. (DeL) Westinghouse Broadcasting Co.. Inc. (Ind.) W house Canada Ltd. (76% owned) (see phabetlcal index) Westinghouse Controls, Inc. (DeL) Westinghouse Credit Corp. (DeL) (see sepa rate statements below) Westinghouse Electric Co. &A. (DeL) Mies for . electric generating ope Co. said the sew Co. wl near Essen and expects to': fuel assemblies by-1975. Steag tricity in. West Germany.. In Jan. 1973, Co.. Creceot-Lof Mney-Ugine Kahlmann, - both and manufacturing concerns, :fo venture to make uranlum-ba light-water nuclear reactors. P will own 51% of the new cor town 35%, and Creusot-Loire maining 11% will be held by which is 51% owned by 45% by Co. In Sept. 1973. Co. ret up a a fuel company based in Paris with et Mecanique Nuclealre of B* Euxofuel of France. The new co be called Franco-Beige de Fa Combustlle and will rely on Ml plant in Belgium for product! 16% of the capital is the ven 24% and Eurofuel $0%. The latter^ a subsidiary of Peehiney-Ugine On Jan. 20. 1970, Westinghouse World In vestment Corp., subsidiary, acquired 478,466 shares (68%) of capital stock of Ateliers de Westinghouse Electric, S.A (Switzerland) and Creusot-Loire of France, Co., Fabrication de Electrodomesticos, S_A tome. (81% owned) Constructions Electriques de Charleroi. Bel gium. in exchange for 99,569,000 principal Sotiete Francaise des Ascenseurs West inghouse (France) (96% owned) BUSINESS A PRODUCTS amount of S% subordinated guaranteed con Westinghouse. S.A. (Spain) (70% owned) The principal business activity vertible debentures, due 1990 (guaranteed Westinghouse Learning Corp. (Del.) iacture and sale of equipment and apt by Company and convertible into Company Westinghouse World Investment Corp. for the generation, transmission, utt common stock). (DeL) and control ot electricity. c MOODY'S INDUSTRIAL MANUAL -lUi manufactures and sells more some 1.800 scientists, engineers, and support J. L. McGowen. Exec. Vice-Pres.. Major Ap 1,000 variations of about 8.000 highly personnel to conduct a broad program of pliances fled_ basic products, ranging from a basic and applied research, advanced devel T. J. Murrin, Senior Exec. Vice-Pres.. Public of major appliances to commercial opment, ana creative engineering in areas Systems power plants. Included among Its of present and future importance to com J. C. Reagel. Exec. Vice-Pres.. Nuclear En are steam and gas turbines; prac- pany. Some recent, results of these efforts ergy Systems electrical and much related me* include significant innovations in water pur L. E. Hedrick. Pres.. Power Systems Europe 1 equuipment required by power com- ification. solid state power conditioning, elec E. H. Seim, Pres., Industry & Defense-- rimireoads. city transit systems and trochemical energy storage, and electron Europe plants; propulsion and electrical beam cutting ana welding. Specialized in C. R. Rhine, Exec. Vice-Pres., Home Equip lent for the Navy and the marine vestigations are being conducted at satellite ment electrical and electronic systems, Research Laboratories located in Boulder, F. E. Spindler, Exec. Vice-Pres.. Industry station and other equipment for the Colo,, Annapolis. Md., and West Lafayette, Equipment and Service ice industry; and consumer products, Ind. Development work is largely carried out T. w. Landrum. Exec. Vice-Pres.. Lamp Di uets, such as motors ana control in other laboratories, many of which are lo visions are used by other manufacturers as cated at manufacturing plants. H. J. Brudner. Pres. Westing. Learning Corp, for their products, Research and development is continuing on J. K. Mikita, Exec. Vice-Pres.. Broadcasting, also develops, designs and furn- materials, equipment, processes and systems Learning. Leisure Time ear power plant equipment and in areas in which company has traditionally P. E. Schruth, Exec. Vice-Pres.. Leisure Time SS8eration of electricity. At Dec. 31, been engaged and in new technologies such Jrr/f d 101 nuclear power plants oper- as air pollution monitor* and control, coal J. C. Marous, Jr., Exec. Vice-Pres., Construc iider constructioa or on order. Co. pretreatment for sulfur removal, ecological tion and manufactures offshore au- studies in marine environments, holographic Frank Shakespeare. Exec. Vice-Pres. Broad ser plants through a joint venture analytical systems, high power gas lasers, casting, Learning Sc Leisure Time leco,, Inc. cryogenic machinery, tele-communication M. L. Shapiro, Pres. Broadcasting Station Is engaged in land development systems, and opto-aecustic processors. Corn Grp. !conventionally nrf federally fi- N. A. Beldeeos, Large Rotating Apparatus estate and housing development, Div. . . and management of rental proper A. L. Bethel. Transformer Divisions ' "tfon, company supplies concrete er vapor lamas, low light-level security E. J. Cattabianc, Steam Turbine Div. building systems to construc- monitoring, ana improved waste treatment J. O. Campbell, Power Systems Marketing lustty and engages in conventional techniques. E. V. Clark, Jr., Exec. Vice-Pres., Component! activities. - Westlnghouse Corp. offers various & Materials - e important products manufac- educational - services and materials to Na F. p. Cotter, Government Affairs 9'groupe engaged principally in man tion* schools, sells language instruction W. O. Carlsen, Marketing " are as follows: courses, and develops ana administers var j. B. Ferguson. Controller ft Power Systems and nuclear steam arresters supply systems . measuring offshore nucl power cents pits. Itage poower relays ;?breakcers steam and gas ierator* turbines rw steam condensers /.fuel switchgear transformers Industry liquid waste sent treatment facilities ; Sc battery low-voltage breakers motors Sc pre-stressed concrete air con- and structural prod, r equip. rectifiers regulators Ic"tubes semiconductor rays devices switchboards 1 gear- transportation equipment computer vehicular tempera ture control equip l material ment fixtures wiring devices Consumer Products dltloners fluorescent and and vanities Incandescent lamps dryers washers breefaritginegraetqoursip6mt ent ,ve laminates freezers ious training and management skill develop R. V. Gavert, Jr., Industry Products Sc Mar ment programs. Significant among these is a keting unique system of Individualized learning C. E- Hobbs. Government Relations known as "PLAN" (Program for Learning A. J. Hendry, Exec. Vice-Pres., Control in Accordance with Needs). In area of leisure Equipment Div. time activities, subsidiaries bottle and dis S. W. HM^wald, Engineering & Development tribute various soft drink brands in Im W. E. Johnson, Transportation Div. portant market areas; manufacture, assemble A. M. Kennedy, Jr., Investor Relations and sell wrlstwatohes and other timepieces W. N. Letson, Gen. Counsel & Sec. under Longines, Wittnauer. LeCoultre and P. J. Lynch, Management Ser. Jubilee trade names; market and sell, prin G. F. Mechlin, Jr., Research cipally by mail, musical recordings and vari S. F. Miketic, Manufacturing ous related items; and lease ana rent auto C. F. Obermesser. Elevator Divs. mobiles on both a direct basis and through N. V. Petrou, Exec. Vice-Pres., Defense franchisees In over 400 locations across coun D. J. Povejsfl. Personnel try, in Canada and in Caribbean and operate C. E. Price, Industry Services Divs. resort hotels. R. B. Read, Treasurer Company also engaged in television and E. W. Seay, Information Ser. radio broadcasting, see below. J. C. Sheehan. Major Appliances Hktg. Another subsidiary, Coral Ridge Properties, D. D. SUtrk, Motor Div. Inc., Is engaged in land development and Theodore Stem, Water Reactor Div. sales and. in the operation and management J M. Wallace, Power Systems Projects Div. of hotels and other rental properties, prind- C. H. Weaver. Pres,, World Regions in area of Fort Lauderdale, Fla. Coral R. L. Wells, Management Sc Professional Per is currently developing a new city In sonnel Fla. called Coral Springs designed for 60.000 L. W. Yoehum, Finance residents on 10,000 acre* northwest of Fort Vice-President*--Regions Lauderdale. E. W. Beeby, Far East S. F. Davies. Atlantic PRINCIPAL PLANTS AND PROPERTIES J. E. Goetz. Jr.. Pacific Coast Company operates approx. 116 manufactur ing plants throughout u, S. and 69 In other countries. > H. H. Gray. Southeastern J. D. Haight. Africa & Middle East G. W. Holton, Central T. H. Kenton, Jr.. Southwestern SUBSIDIARY CWE&IT COMPANY C. V. Roseberry. Midwestern P. B. Shiring, Northeastern 'aahers ranges security systems specialty lamps IS Defense & Public Systems e weapon engineering equip tool systems ment and service raft electric er systems unications -- -.cm* |*nne propulsion Mnd auxiliary equipment pair launching reconnaissance and surveillance systems pace propulsion and advanced power systems underwater search and detection * "1 handling ipxnent science and equipment underwater weapons systems hold appliances are sold to Inde nt distributors through Major Appllft-Sales, a sales organization of company. Westlnghouse Credit Corp.--Pittsburgh, Pa. Engages in extension of credit in trans actions including leverage leasing. BROADCASTING SUBSIDIARIKS Westlnghouse Broadcasting Co* (N. YO-- Owns and operates 7 radio stations and S television stations. Radio rations comprise; KDKA. Pittsburgh. Pa.. KYlg, Philadelphia; WBZ. Boston (operated with wBZA. Spring field): WOWO, Fort Wayne. IriLTWINS. New York, WIND, Chicago and KFWB. Los An geles, Television stations are WBZ-TV, Boston; KDKA-TV. Pittsburgh; WJZ, Baltimore; KPGC. in San Francisco- and KYW-TV In Philadelphia. 1673 Capital Expenditures were $202,414,Mb against $224,721,000 in 1972. D. S. Wilcox, Western Hemisphere Directors K. R. Bendetsen, New York H. O. Bercher, Chicago D. C. Burnham L. K. Eilers, Rochester, N. Y. M.K Evans R. B. Gookin, Pittsburgh C. S. Hammond D. F. Homig, Providence, B. I. R. E. Kirby Roger Mitiiken, Snartanburg. S. C. Max Nokin, Brussels, Belgium R. R. Pivirotto. New York J. M. Schiff. New York J. W. Slcpson Hobart Taylor. Jr., Washington. D. C. Marina Whitman, Pittsburgh, Pa. G. L. Wilcox 9 Other products manufactured are. in sold to customers through other /Organizations of the company which main and branch sales offices through- 8. and. In certain cases, through lnmt distributors and dealers. Company itatns plants and other facilities throughe world for the maintenance and of equipment and appliances of its manufacture and equipment manufac>y others. . . is engaged In distribution outside MANAGEMENT Officers .- D. C. Burnham. Chinn. Sc Ch. Exec. Off. M. K. Evans, Vice-Chmiu. Planning G. L. Wilcox, Vice-Chmn., Corporate Affairs Executive Vice-Presidents C. E. Hammond, Pres., Consumer Products R. E. Kirby, Pres., Industry Sc Defense Prod. D. H. McGannon, Pres., Broadcasting Learn ing Sc Leisure Time Auditors: Price Waterhouse & Co. Annual Meeting: Last Wednesday in April No. of Stockholders: Dec. 31. 1673: Pre ferred, 1.677; common, 165,733. No. of Employees: 1973 average. 194,100. General Office: Westlnghouse Building. -Gateway Center. Pittsburgh, Pa. 15222; New York Office, 200 Park Ave.. N. Y. 10017. Sales A Net Income Classification (%): ------ 1973-------------- 1972------- '.of electrical and other products, pri- J. W. Simpson, Pres., Power Systems Sales Net Inc. Sales Net Inc. ftthose manufactured by company. Such Vice-Presidents Power syst. ,,............. 31 38 32 43 Button is accomplished through s D. D. Danforth. Senior Exec. Vice-Pres.. In Consumer mod. .... 16 2 IT 3 /-owned subsidiary and through com- dustry Products Industry___ ._______ 38 39 34 27 ^representatives and independent dis- G. C. Hurlbert, Exec. Vlee-Pret., Power Gen Defense ....________ ^ In 195 countries and territories. eration Broadcast., learnings 87 . ----- " " Ehouse Central Research Laborator- M. J. McDonough, Exec. Vioe-Pres., Trans Sc leisure time____ ' ; . -- iburban Pittsburgh, Pa., employ mission Sc Distribution Other ----------------------- ' , -------- - . . ICE RANGE OF Users of this Manual will find of value the tabulation (on blue j' POCKS AND BONDS covering price range of Industrial stocks and bonds for last ter '