Document k7a1Z2KMoagNwbE3kakGDDZn

BSPOBt Of ME. 0. H. BQTSR RBLAHHG TO AUDIT Of tHB a k a c o t id a l *a d p r o d u c t s o o mp a s t - b a s t Ch ic a g o . iroim. JUKB 9TS. 1927. . 1 PERIOD C0V3B5D BY AUDIT: Cash Audit General Audit Deo. 1st. 1926 to April 30th, 1927, Inc. Bov. 1st, 1926 to liaroh 31st, 1927, lno. TIMS H51UIBBD fOB AUDIT: 9 Daps CASH: Cash Book Balaaoe - April 2dth, 1927 Cash on Hand - April 28th, 1927 * 10:00 A.M, - ChsoJni: 4/26/27'- A. C. Horn Co. ...... 641.50 43.50 643.50 BOCO AID BBCORDS CBBCEBD: CASH BOQt: footings 2*fl& Cosplete Paid looal hank oheoks to Cash Book Pos tinge to General Ledger Postings to Cue toners Ledger Verified outstanding oheoks as of Verified oertifioate of balane# fornl shed by the first Cain--I trust sad Saringi Bank, Bast Chloage, lad. Doo. 1st, 1926 to fob. 28th, 1927* lno. Mar. 1st, 1927 to April 30th, 1927 iso. Msr. 1st, 1927 to April 30th, 1927 lno. Maroh 1927 and tests. Maroh 1927 April 30th, 1927* April 30th, 1927* BsciPiminoi of q a b h b o o t - p ic , xat. 1926 to a p r il b o t h . 1927. ac. Cash Book Balance - Deossber 1st, 1926 RBCIIPTB: lev Tork Drafts deposited in Best Ohio ago Bank lev Tork Drafts drawn a^inst Touohsrs Sundry Beoeipts 8 869.35 8 10,000.00 162,093*15 327,843*29 439.936.44 total 8 500,805,79 DISBUBSMBtB: lev York Drafts dram Looal oheoks drawn Deposits to credit of Anaoonda Copper Mining Co., low Tork 162,093.15 12,628.72 325.690.05 500.411.92 Cash Book Balance - April 30 th, 1927 8 393.87 Made up as follows; Cash on Hand - Bast Chicago Office first Calunet trust and Savings Bank, Bast Chicago, 2nd. CD. gl-fl BBOOIOILIAKCM Of BA1X StATBUBBt: fast c a l mat ir p s t a id s a v iig s b u t , b a s t Ch ic a g o , h p ia ia . Balance - Doo--her 1st, 1926 Add - lev Tork Drafts deposited Other funds deposited m 8 10,000.00 2,153.24 8 869.35 12,155.2* total Deduct - Cheoks Drawn Balance - April 30th, 1927 os per Cash Book 8 13,022.59 i2.628.72 8 393.87 Add - Outstanding Cheoks ___AfiLSi Bank Balance - April 30th, 1927. as per oertifioate attaohed 8 800.41 PNYC 00011943 BBSORS AHD PBCH3iAMCIr>S - COKPBTJgD: FREIGHT ALLOWAB CSS : It has been the praetioe to allow credits for freight dsduotsd by customers through the Cash Book. I hare suggeeted to Mr. Stolte that euoh items be oorered by Credit Memorandums in the future. In this way all oredita aay be properly approved. MOgTHLY 3TATS1SITS 10 CIBPMBRS: Mr. Stolte has explained that monthly statements are not rendered to orastomsrs who discount their bills, but that they are sent out on all of the alow aooounta. On April 50th. 1927 I ashed hia to hare statements covering all aooounta prepared for ay use; these were not handed to as until May 10th. These were stamped with the auditor's stamp, compared with the books and mailed out to the ouatoaera on the ease date. In order for a aonthly atatmwnt to be of mudh talus, it seeaa to me they should reaoh the ouatoaer pro^tly after the first of each month. - TUBS: . As has bemn noted in previous reports, taxes are not set up on the books as they aoorue. The following taxes for year 1926. were paid in May 1927 and will be charged out against 1927 operations. . First installment of State, County. Towiship and Sohool Sast Chloagc, Indiana City Taxaa $ 541.66 323.81 I 865.46 DBPBBOIATIQM; . Reserve fbr Depreelation is being sat up on a basis of % .0025 per pound of White Lead Produood. SHOT DOWW BXP3BSBS: During the period Feb. 3rd to Feb. l6th 1927* inolueive, the white lead plant was shut down. Chargee to "Shut Dome Rxpeneee" during this period amounted to % 3,850.66 The white lead plant erne again shut dosn May 1st, 1927 - it is expeottd to start the plait in operation cm a ourtailad production basis on or about July 1st, 1927. ACCOHITB B3C3HIBLH: Isas , 1 . Balanoo Apr.30.1927 American Faint Corporation, Duluth, Minn. 2/14/27 lav 292 I 969.00 low oompany headed by former employees of Glidden Co. Mr. Stolte feels assured that this oompany is reliable, they did not. however, make settlement on aooount after one aonth*e extension of tins. He wrote to then on May 51st, 1927 asking for a remittance. % 969.00 H. B. Davis Co., Baltimore, Md. "r in .,, Shipments amounting to |9,861.00 ware in May 1927. Considered good. 9.576.00 * 4.788.00 Paid 5/16/27 4,788.00 Due tde to this oompany PNYC 00011944 5 cost, aa id pr o f it smalarT-. THB33 MOUTHS fflPIMG MJLBCH 31ST. 1927; Pounda Salat freight Bto. Sat Coat of Sal at Ooodt Sold Groat Profit Sailing and Ganaral Bxpanatt Whitt Load: Straight Salat troa Plant 2,229,6101202.276.03 I 5,805.22 0196,471.61 8l97.o6o.l6 1 588.57 Salat froa iganor Stooto: Annoonda Load Frodoota 00. 54.600 5,162.96 120.95 5.042.01 4.819.48 222.53 daaoonfta Salta Ooapaap 729.600 69.699.23 5.664.91 66.034.32 64.700.64 4.333.68 ___________ 3.014.0108277.139.02 6 9.591.08 8267.547.94 6266,580.30 6 967.64 8 7.623.24 lot Profit 6.655.60 Lata - Dlaooimta dllovad Plat - Shat Dom Xzpanaaa Profit -4.583.43 811.239.03 - 3.850.66 815.^9.69 -ratu irom p b c mmb 31BF. 1926: 12.085.104 Lata - DUooanta JLllaaad Shat Doan Sspanaaa Prom 8x.176.065.8781.079.9u.91 033.765.17 862.395.79 23.592.49 638.803.30 giP?3-S9. 8u.799.7i PNYC 00011945