Document X77JoJovbQLZJ08RxwdDDD5qG
ORIGINAL INVESTMENTS IN TITANIUM PATENTS
Oa 'Dec* 31, 1937* 5*000 ahares of common stock of The Shervinlillia8 Company was given in exchange for the patents and pFo urty of the Burgess Titanium Companya (This exchange was approved by the Board of Directors on December 24, 1937.) On December 31, 1937 * the date on vhleh the exchange was tonsUmmated, Sherwin-Williams Common Stock sold on the Nw Tprk Curb Exchange at a price of 484.00 per share - book value :* 155.77.
lbs transaction was recorded at the par value of common stock 5,000 shares at 425,00 per snare, or 4125,000.00.
Property received from Burgess Titanium Company was:
Machinery and Equipment Raw Materials
Laboratory and Miscellaneous Supplies
Virginia Ore Property
4 17,374*91 1,59*.56
510,52
Total Tangible Property Value of Intangible Assets
(Patents)
24,983.99 100.016,01
4 12^.000^00
^24,983.99 is atill carried on the books of the Company, ?v-00,016,01 was charged off to Profit & Lose at August 31, 1938,
0007-SWP-000005303
vS?
# *
31. 1?37 Jl. 1938 ;JU 1939 ;3L. 1940 ;3L, 1941 tJL* 1942 . l* 1943 t31, 1944 31, 1945
Gl o u c e s t e r t it a n iu m Record cf Losses tn Operation
Factory
$ 14,520 86,913
215,724 249,607 309,259
550,069 419,662 563,102
173,177
2,582,033
Federal Tax Reduction,
a/e Deficits
Federal Tax Rate
**lU Of Output
at Market v Prices
* 2,323 13,906
Normal 16 16
None
34.5X6 47,425 154,630
- 16
* 19
Excess-Profit* 50*
$ 45 None
10,706
330,041
60
223.242
377,696 534,947
* 90 " 95
14,785 362,138
164,518
95
349,471
$ 1,660,002
* 960,387
Present oeet of manufacture is $25*0X2 per CWT, fo0ob, Gloucester* Market Prlee $14*50 carload - delivered.
0007-SWP-000005304
^ M 4280.01
31, 1945
^OUGSST'^ TITANIUM Plant Account
to
Gross 197,682 306,123 347,783 1,853,382 1.899,994 1,962,959 1,944,741
1,940,168
Depreciation Reserve
Nat
10,253
187,429
28,857
277,266
67,634
280,149
175,285
1,675,097
325,763
1,574,231
485,172
1,477,787
637,843
1,306,898
726,355
1,213,813.
Plant Valuga GlaaaifieA
dings and Kharf
'nery and Equipment e fixture* trical Equipment, Plumbing nd Heating
Groaa
Depreciation Reserve
%t
336,331.75 1*271,703.73
U, 307c 90
53,320.36
509,547.73 a,040.72
2B3001lo39 762,156.00
5,267.18
173,493.14 2,123.28
-- 27*271*86
1,822,231.66
_-117.,W.QS
59,193.19 728.35
628,830.35 . 97.J524.49
114,299.95 1,394.93 27.271-86
1,193,401.31 20.411*46
1*340,162*61 726.354.04 I*213*l2*22
__________________ * '
0007-SWP-000005305
N14280.02