Document e78NEvb69VdXagY2y2ERgkELe

Annual Report SATIONAL LEAD COHPAHY For Fiscal Year Ending Deceirber 31, 1894 Principal Office: 1 Exchange Place, Jersey City, H. J. Executive Offices: 111 Broadway, Hew York City 0000-NLI-000017836 NATIONAL LEAD COMPANY 1 Exchange Place, Jersey City, N. J. Report Presented to the Stockholders at their Third Annual Meeting, February 21, 1895, for the Fiscal Year Ending December 31, 1894. To the Stockholders of National Lead Company: The foliosing Balance Sheet shows the condition of the Company on December 31, 1894: ASSETS Plant Investment.......................... Other Investments....................... Stock on Hand, manufactured. in process and raw............. Treasury Stock-Common............ $ -Preferred... Cash in Banks............ Notes Receivable... Accounts Receivable Total Assets 023,629,022.98 425,703.91 94,600.00 96,000.00 4,465,396.44 190,600.00 < 692,294.32 ; 220,497.76 1,186,562.16 jl LIABILITIES Capital StockrCommon.............. 1X5U,$0W0W0W,j0W0W0W.0w0w -Preferred.... 15,000,000.00 S30,000,COO.00 Surplus, December 31, 1894 672,172.28 Mortgages........................ 12,603.25 Accounts Payable.............. .. 125,302.04 1 . | Total Liabilities 030,810,077.57 In order that stockholders may conveniently oomthe condition of the Company with that of 1893, the following comparative sheet is presented herewith: -1 0000-NLI-000017837 luOo C25D, to 03 , * O 03 tn t-t (P 03 o o o CD CQ * to o r-4 o oo o ooo o * oooo 03 03 CQ oa CO GO CO CD 4% 4* <* * o oo o CO CO o o 03 CO 03 CQ *3 o o CQ CO rl 4* t- -31 ooo ooo & *9 <t tn tn m ooo ** * * 03 03 CD <t> j* d* H rt rt 4& 0> rO) rr-Jl H03 oooo aaasa to ao aosos to SURPLUS ACCOUNT HIT) HtO HtT3 HlO J3 O O 4* t* fj P. o 5a4} P*-3 0Q1 Qo -3- COrtr-l tO 0000-NLI-000017839 I /' RECAPITULATION Assets Decreased........................... ...... .................... . 0746*654.25 Assets Increased.............................356*259.17 Liabilities Decreased.......... 113,311.55 468*470.72 Surplus Decreased during 1894.............. .. 378,183.53 The profits for the year 1894 Tiers not so large aa` during 1893, for the reason that the distress in the country in 1893 had bean increased and accentuated in 1894. Thi3 company supplies a great number of manufact urers with its paints, oxides, linseed oil and other articles of its manufacture. During the year 1894 man ufacturing interests, almost without exception, diminish ed their output to an extraordinary extant. Careful data 3h07r that 3uch diminished business for the year 1894 as compared with 1893 ranged from twenty-three to seventy-four per cent., or as near as could be arrived at, an average decrease of about fifty-one per cent. Railroad, manufacturing and commercial earnings were greatly decreased in all part3 of the country. Prices of grain and all commodities had 30 fallen as to iurgsly reduce the purchasing power of consumers. It is need less to discuss the causes that produced these untoward conditions and results, the foots are fully understood and need no amplification. Notwithstanding this, it is particularly gratify ing to be able to state that this company had a sub stantial increase in it3 volume of business in every de partment except one during the year 1894 as conr.ared with 1893. Profits were not so large, because the pur chasing power of consumers having been sadly reduced and propositions for the reduction of the tariff having taken fora in the early part of the year, the management decided to promptly meet these conditions by reducing prices to a basis a3 low a.s could be anticipated under the new tariff, and which would meet the prevailing necessity for cheaper goods. It will be borne in mind that the values of sub stantially all merchandise were lower January 1, 1895, -4- 0000-NLI-000017840 \ of lead products by quite a number of million pounds than hid ever before been held, either by this company or those which it succeeded. j The untoward conditions in the smelting business, largely brought about by the silver legislation, and by the imposition of tho high tariff duties on silver lead ores, which resulted in the building up of great smelt ing plants in tfexioo to the detriment of the business in this country, have not been sufficiently modified to enable ua to profitably reopen our smelters and refining , plant. TTe are thereby deprived of profit in that direct ion but are not without hope that circumstances and con- j diticn3 will be 30 ordered as to permit the resumption of these ork3 later on. I Out mortgage indebtedness has been entirely paid off with tho exception of Si3,603.35, which it is im possible to pay during the lives of 3oete who derive annuities from it. Outside of thi3 it may be stated that the company has neither mortgages, bond3, nor in debtedness other than is shown in the statement. The statement shows that we paid during the year regular quarterly dividends on the Preferred Stock, amounting to 1,043,380.00, and on the Common Stock, three dividends of one per cent eaoh, amounting to $447,163.00. As there was a fair surplus from previous earnings, it was deemed right that the common stock holders should share in it"to the extent necessary to pay these dividends, there being ample capital to 3upply all needs of the company. Taking into consideration all the circumstances and conditionally which we were surrounded during the oast year, and the relative remits secured by railroads, and Other commercial and industrial institutions, the man agement desire to express their satisfaction with the Results as shown by this statement, and with the remark ably solid condition of the company, and it3 immense re sources at this time, and feel confident that with the *eturn of general prosperity, it will be found that our foundations have been broadened and our possibilities Materially enhanced. The different plants are being maintained at a Mgh point of mechanical excellence, and modernized -6- 0000-NLI-000017841 aharc necessary. All expenditures for thi3 purpose have bean charged to repairs, and we are fully prepar ed to take care of all additional busine33 that say GOffiS to U3 The policy of this company remains precisely a3 it has been since its inauguration, and ia very 3imple. First, the unqualified protection of the property in all its departments and in its business, and Sscond, to cake fair ani reasonable profits, and distribute 3ame among its shareholders whenever deemed wise and prudent to do 90. Respectfully, W. P. Thompson, President. 7- 0000-NLI-000017842