Document g2e74mQoDZdOEynzeXg8OmBwL

NATIONAL LEAD COMPANY IS Exdumr* Place, Jaway City, N. J. Report to Im Presented to Aa Stockholders at their Forty-third Annul Meeting, April 18, 193S, for tka Fiscal Yeer Ended December 31, 1934 To the Stockholders of National Lead Company: The following consolidated Balance Sheet shows the condition of the Company on December 31,1934: Current Assets: ASSETS Cash ........................ ,............................................................................................................................................................. $5,387,250.33 U. S. Government Securities (Market Value $2,649,955.71)........................................................................ 2,553,279.67 Other Marketable Securities, Domestic (Market Value $3,771311-37)............................................. $3,363,796.63 Other Marketable Securities, Foreign (Market Value $4,776,663.09)............................................. 4,560,496.87 ------------------------------------------ 7,924,293.50 Accounts and Notes Receivable ............................................................................................................ $7,586355.97 Less Bad Debt Reserve ....................................................................................................................... 490,601.62 ------------------- 7,095,754.35 Notes Receivable Employees................................................................................................................................................ 892,440.35 Inventories (atNormal Prices, Excess at Cost or Market).................................................................................... 16,99526428 Total Current Assets .................................................................................. Investments: Securities of Affiliated Companies (at book value, in no cases exceeding cost) Domestic ...................................................................................................................... Foreign ......................................................................................................................... fNational Lead Company Capital Stock (34,883 shares Preferred A; 25,815 shares Preferred B; 38,331 shares Common)....................................................... Miscellaneous Investments (not listed on any exchange) Domestic ..................................................................................................................... Foreign ........................................................................................................................ $4,734255.93 6,142,168.40 ------------------ $10376,424.33 ..................... 10,714,05423 $39024021 554,71025 ------------------ 945,050.56 $4034828248 Total Investments ............... Fixed Assets: Plant Properties and Equipment (net) Deferred Charges....................................... ................................................ ................................................ ........................................... 22,53522922 41296,987.03 145,07232 $104,92527125 rCurrentt ILi-avbiilvities: LIABILITIES Accounts Payable, andited but not due...................................................... Tax Reserve..................................................................................................... Dividend Payable February 1, 1935, on Class B Preferred Stock.......... $3,475,159.07 841247.49 116,193.00 Total Current Liabilities Reserves: Employees life Insurance Reserve........................................................................................................ Fire Insurance Reserve ........................................................................................................................... Employers Liability Reserve ............... ................................................................................................. Plant Reserve ......................................................................................................................................... Promotion Reserve ................................................................................................................................. Foreign Exchange and Miscellaneous ................................................................................................... $3,000,000.00 4' ,797284."02 426,66430 2200,000.00 1200,000.00 17621628 Capital Stock and Surplus: .. Capital stock: Par Value $100. Preferred--Class A.................................... ............................................................... Preferred--Class B ................................................................................................... Common .......................................................................... ...................................... . Authorized Issued $25,000,000.00 $24367,600.00 25,000,000.00 10327200.00 50300,000.00 30383.100.00 $4,433,099.56 12,400265.00 A 3 - ,; : - i.'>'V * $100,000,000.00 $65,678,400.00 Surplus ........................................................................................................................... ........................... 22,413306.99 Total Capital Stock and Surplus.................................................................................................................... 88,002306.99 2 a. t ' i. 9 ? ; $104,925371-55 DETAILS OF PLANT INVESTMENT 1934 1M3 Gross Property.................................................................................................................. $71,479,118.48 $68,488,63636 Less Depreciation and Depletion Reserves................. ................................................. 30,062,131.45 29,058,496.41 Increase $2390.481.62 1323235.04 Net Property............................................................................................... $41396,987.03 $39,430,140.45 f See page 4. * See page 4. $1,966346.58 0000-NLI-000018165 3833/ t * Vv ' r: 3 3b, L f 5 4 *M CONSOLIDATED EARNINGS STATEMENT 1934 I933 .. ............................................................................................................................................. Cost of Goods Sold, Taxes, Depreciation and Depletion, and Other Expenses... $56750,470.55 53,591,440.43 $46,412,585.92 43,443,618.55 Net Operating Profit..................................................................................................... Other Income............................................................... * 2,759.030-12 1,441,15801 $ 2.96W67J7 859,361.56 Total Income.................................................................................................................. Dividends on Preferred Stock Outstanding-^ ";;;;; $ 4,200,18813 $ 3^2832893 1 *>26^975^'Slo 1,933,855.75 Amount Earned on Common Stock.................................................... ...................... $ 2,273,898.38 JM>89|M7818 Amount Earned Per Share of Common Stock Outstanding..................................... $ 837 $6.98 ANALYSIS OF CONSOLIDATED SURPLUS Surplus-Beginning of Year ......................................................................................... Add: Net Income for the Year.................................................................................... 4,200,188.13 $25,697,446.74 3,828,328.93 $24788,44811 rw. Divide: Mm* sud, 0u0<llnI-aa, A;;;;;;;;***" , lw6a97s^^ S lUJ Common Stock Outstanding .................................................... Total Dividends ........................................................................... Surplus-End of Year....................................................................................................... 1,357,350.00 $ 3,283,639.75 $22,413,806.99 1,357,333.75 $ 3791.189.50 $21,497758.61 Note: Dividend* on National Lead Company Preferred andCommon Stock owned by the Company itself an not included in above ficurcs, either aa payment* or ae income. ' tA Stock Dividend of 14% payable in Common Stock vn declared in December 1934, but not paid until January 15. 1935. Entrice string effect to the peyment of thia dividend were made on the books in January and will be reflected in the report iasued aa of June 30, 1935. The present normal *tock* of the Company are aa follows: Lead ........................................................................................................... fja Jattimmr 49,68754abort tons valued at $0.03 per pound. 1,12454short tons valued at.21 per pound. 25*short tons valued at.05 per pound. Stocks in excess of these normals are valued at coat or market whickerer ia lower. n o* a* s 3'? | 8 2 .r.*8 EI | 8 8. s-f II mi |8 SII8 "2. 5 &-S ?a I 0000-NLI-000018166 to 4 JuS +>*% 5o IS | Oof o3(3 3 .a < s I* * 3 f* 82 jvg S-S | 3 8 * * 8 8 -8 S 3* &3 Mm >5 g J4 e Si o *8 IS a V o -; g-8 Q$ 2 2 s J vy ~ <* M S' *^< -I I 41i* ^M o** > 2c SJJPk oa SK <C c_/) w>. JM i 8O JO2n iis fO - fa 2 2 0000-NLI-000018167 o fc SB 11 IS <3* r* f 2 < x **3w 8* as l id sO |S15 b a5 IS lo(ts 5 .2 o i .2 < T3 U 1*^0 1 V) la "b3^3 o J 2 Id li 3 IsSjo 8 ."T >M 0 01 Id is OS b Si* a3 3, < ew X ow U Id A8 85. w 4 d u iiS 03 is " b Qas uo OW s< a iX3 I Id > 2 oa > 1 2 *o J ra 8 ji td as o Q 2 < a j< 0000-NLI-000018168 * % -1 0000-NLI-000018169 ! 0 CJ 1 0000-NLI-000018170