Document rpGmqbGnyJb7zLm4n9V6KK4ME

REPORT J? MR. H. H. ANDERSOFT HSLA.TIS-TO TO AUDIT 0? THE ANACONDA SALES COMPANY - EAST CHICAGO. INDIANA NOVEMBER a4THt 19 31 PSRIO D COVERED 37 AUDIT: RtC CIVKO . f u' p i 1331 xo > *..s* orr. * .. - :** Cash. Audit General Audit September 17th, 1930, to September 15th, 1931, lncl* September 1st, 1930, to August 31st, 1931, lncl. Tpq REQUIRED FOR AUDIT: IS E*y* Cash Book Belnnoe - September 15th, 1931 Ceah on Band - September 15th, 1931 (9j 30 A.H.) Detail! Checks: 9/10/31 * General Faint Oorperation - Lee Angeles, Cal* 9/11/51 - Bi* 5* George paint and Ttvnisfc Oompaay, Lee Angeles, Cal* t/14/Sl - Chas, a. Long, Jr* Company, Louisville, Ey $ Note: The above obeoks sere depeet^Ml sa September 15th, 1951* 433.41 43.5* non* anraap TM t b it m i c c iw mi On Sam* Saptanbar ISth, 16Blt 19M Praaar Paint Company Detroit, Hlohlgan 7/,1/31 Dua 9/21/31 Pal4 Saptembar 22nd, 1931* Motor City Paint an* fhrnlah Company Datroit, Elohlgan 4/U/31 Bua 10/38/31 Pl* Ootobar 30tb, 1931 Ladgor Bnlanoa - laguat Slat, 1931 TBlIg 40CgMIMl Tola In Industrial Paint Company Tolado, Oblo 3/11/31 Bun 7/ 6/31 lot Pal*. Tranafarrad to opon aocount on Ssptoabsr 30 th, 1931 - Journal Xatry So. 142. yrodorlok O'Brlon Tarn lab *ork Laa In galaa, Cal. 7/24/31 Duo 9/26/31 Pali Ootobar 14tb, 1*31 Tbnaul, Inoorporata* Brooklyn, I. T. / 3/31 Baa 6/ 1/31 Pal* *200.0* om Saptombor 30th, 1*31 MU *1*3.75 am Oatoban 9 th, 1*31 maal, Inaarporata* Brooklyn, I.T. Itam of la tars at ohargod talaa ta trmda lamaptamaa aoooont la arrojr. Corroatlaa In 6a tobar, 1*91 19 SI * 712.06 712.06 $ 712.06 * 477.23 5.20 # 452.45 * 37 .00 174.00 303.73 3.33 660.10 PNYC 00012028 a BOOKS ATP RECORDS CHECKED: CASH 300K: Footings Deposit Slips to Cash Book, monthly totals to reports made to New Fork Office Postings to General Ledger Postings to Customers Ledger Cash Reoeipta in detail, as shown on deposit slips, to Cash Book September 17th, 1930, to September 15th, 1931, lncl* September 17th, 1930, to September 15th, 1931, incl. September 1st, 1930, to August 31st, 1931, incl. Xu gist, 19 31 August 1st, 1931, to September 15th, 19 31, incl* RECAPITULATION OF CASH BOOK - SEPTEMBER 1ST, 1930, TO AUGUST 31ST, 1931. INCLUSI7Z: Ledger Balance - August 31st, 1930 RECEIPTS; Customers Ledger Accounts: Anaconda Lead Products Anaconda Zinc Oxide DISBURSEMENTS t Deposits mde In the first Calumet Trust and Sarlngi Bank, East Chicago, Indiana, to the credit of the Anaoonda Copper lining Company, lev Tork City, N. T* September 1st, 1930, to Pebruery 8th, 1931, Indus! Deposits made In the Continental - Illinois Bank and Trust Company, Chicago, Illinois, te the credit of tha Anaoonda Copper Hlnlng Company, Hew Tork 01 ty, H* T., Itaroh 1st, 1931, to Augist 31at, 1931, inclusive Ledger Balanoe - August 31st, 19 31 $ ai9,4.03 <21,032.09 $ 391,071*80 349,396*38 $ 5one 640,463*18 1640,468.12 9640,468,11 # lone JOURNAL: Examined Journal Entries and checked same to Journal footings of Journal postings to General Ledger Foe tings to Customers Ledger September and December, 1930, April and August, 1931 September and December, 1930, April and August, 1931 September 1st, 1930, to August 31st, 1931, lncl* August, 19 31 GENERAL LEDGER: postings from Cash Book Postings from Journal Footings of Ledger Accounts Verified Trial Balanoe, as of CUSTOMERS LEDGER: postings from Cash Book postings from Sales Records; Anaoonda Lead Products Anaoonda Zlno Oxide Postings from Journal footings of Ledger Aoocunta Verified Trial Balance, as of Kail statements of aooounte to oustookere, stamped same with Auditor'S Stamp, end mailed In enrelopai bearing;General Office, Butte, Montana, return card September 1st, 1930, to August 31st, 1931, lncl. September 1st, 1930, to August 31st, 1931, lncl. September 1st, 1930, to August 31st, 1931, lncl. August 31st, 1931* Augist, 1931 December, 1930, andAuftist, 1931 Deoember, 19X, and August, 1931 August, 19 31 September 1st, 1930, to August 31st, 1931 August 31st, 19 31 Septsmber 30th, 1931 PNYC 00012029 3 BOOKS AM) RECORDS CHECKED: (Continued) SALES RECORDS: Anaconda Lead Products: Invoices to Record Footings of Record Totals to Journal 2ntri.es Postings to Customers Ledger Anaconda Zinc Oxide: Invoices to Reoord Footings of Reoord Totals to Journal Bitries Postings to Customers Ledger December, 1930, and August, 1931 December, 1930, and August, 1931 September 1st, 1930, to August 31st, December, 1930, and August, 1931 1931, inel. December, 1930, and August, 1931 December, 1930, and August, 1931 Sep tember 1st, 1930, to August 31st, 1931, incl. Deoember. 19 30, and August, 1931 CREDIT mfO RLVDUICj Examined Credit Memorandum* Postings to Sales Records September 1st, 1930, to Augiat 31t, 1931, lnol. . Deoember, 1930, and Aueist, 1931 AGEHCT STOCK RBCORDB: White Load: Sales made through the Anaoonda Sales Company from Agency Stocks Zina Oxide: Sales made through the Anaconda Sales Company from Agency Stoats August, 1921 August, 19SI GENERAL LEDGER TRIAL BALANCE - ADGP3T 31ST. 1931 Lead in Oil ?urobaeed Lead In Oil Sales White Lead Purchased White Lead Sales Zinc Oxide Purchased Zlno Oxide Sales Accounts Beoelvebls Notes Jfcoelvabla Trade Acceptances Receivable Aocounts Payable Hew Tort Offioe SB. 179.09 154,9.50 895,114.36 53,411.23 468.43 660.10 514,076.75 CR. I 179.09 154,229.50 895,114.38 51.00 64,502.78 * 514,076.75 PNYC 00012030 CUSTOMS as LSDaiH TRIAL BALANCE - AUGUST 315T, 1931. C. M. Athey Paint. Company Arnesto paint Company American Paint Corporation * Atlantic Chemical Company* Anglo - American Tarnish Company Acourate Insulated Wire Company Arto Manufacturing^Company Anaoonda Wire and '-able Company Allen and Wilson Arco Company of California Chat* H. 3roen rtint Company Baer Brothers 7. A. Bauer Potteries 7. B. Bauer Company L. H. 3utoher and Company Burke Morris Paint Company S&udes Piint Company Borden and Remington Prank Bowne* Company Bohma-Kennedy-Moran and Company * Chilton Faint Company Clement Coverall Company Colonial Works Capital paint and Tarnish Company Central paint and Tarnish Company Cook Mnt and Tarnish Company California Ink Company Colasha Company, Ine* Cook China Company Cook and Euna Paint Company H. 0* Canfield Company Columbia Kills Cherln lamow Paint Company Carnation Company Colgate P*Indira f^int Company * Chleftan Kanufaoturlng Company * Devoe and Bsynolds Company, Booklya, V. T. Drewea and Ernst Doidge Korwin Paint Company S. X. DuPont De Hemours Company A. Daigger and Company Deroe and Raynolds Company, Chicago, Illinois Dibble Color Works aDitaler Color Company . Donoran Products Company* Sgan and ^naso Company Sollps# White Lead and Color Company Eastern Tarnish Works Ererseal Menufeaturing Company Kljer California Company aspire Chins Company^ Fraser Paint Company Pllton Sibley and Company Pes&ndie and Sperle * Fuahs and Lang > French Wold I*lnt Produots Company Poller Clarkson Company U. Friedman and Company* Plrestons Tire and Jobber Company e Plane leas Paint Company * Glidden Company m. D. George Company * Grassail Chemical Company Gohlen Corporation of Hew Jersey * Gotham paint and Color Company General Heotrlo Company General Paint Corporation, San Pranclsoo, California General imlnt Corporation, Los Angeles, California General Chemical and Solvents Company OR. $ 174.00 175.00 326.50 31.88 113.01 84.00 67.50 337.50 17.Q1 117.19 731.62 390.00 87.00 70.00 43.50 .04 205.63 11044 00 121.00 390.00 17.44 977.50 2.590.00 130.50 304.50 87.00 42.00 51.00 494.88 607.50 89.06 43.50 35.63 437.50 17,81 162.38 435.00 130.50 1.532.00 250.00 162.38 a25.00 25200 217.50 2.329.00 02.50 125.00 174.00 11.63 1.470.00 261.00 86.13 43.50 414.00 87.00 555.75 4.50 82.50' 1.014.00 43.50 16.50 1,783.14 72.50 33.75 547.01 51.86 17.31 Amounts Carried Forward j 23,746.88 $ 4 ca. 50.00 1.00 51.00 PNYC 00012031 CUSTOMS 35 LEDGER TRIAL BAIA^CS - AUGUST 215?. 19 21: (Continued) Amounts brought forward Hampelen Paint and Chemical Company Eanline Brothers Chas. H. Howell Company A. C. Horn and Company Hill Eutschel Company Hancock paint and VarnlA Company R. U. Hallingshead Company Hasting# Paint Company # Hanod Brothers and White* International Printing Ink Corporation Jones Dabney Company William A. Juergens Company A. J. Krank Company Kolbe Paint Company Kunst Brothers Krebs Pigment and Color Company Key City Paint Manufacturing Company LaCleda Paint Manufacturing Company Lawson Sberson Paint Company La pompadour Company Chas. B. Long, Jr. Company Lehman Brothers A. J Lynch and Ccmpany Christ Lohen and Ccmpany Matthews Paint Company, Los Angeles, Calif. Murphy Vhrnish Company Geo. H. Uarrili Company Mutual Paint Company Matthews Paint Company, San Franeieeo, Calif. Meyer Brothers Drug Company Midland Paint and Tarnish Cmapany Monroe Lederer and Tanalg Mutual Paint Company Dan P. Muher Company Martin Rubber Company Miller Paint Coapany Magnolia Petroleum Company McGrew Paint Company McKesson 3astern Drug Company McKesson Bronx Drug Company Norfolk Paint and Tarnish Company National Paint and Tarnish Company North American Paint and Chemioal Company North Jersey Paint Company Nonrioh Phamaoal Company National Lead Company New Tork Belting and Paoklng Company Ohio Tarnlah Company Oakley Paint Manufacturing Company Frederick O'Brien Tarnish Company Phelan Faust Paint Company Porter Paint Company Progress Paint Manufacturing Company Paolfio System Homes Puritan Pbarmacentioal Company Perry and Derrioh poyson Tarnish Company Premier Oil and Lead Works Peaclee Gaulbert Paint and Tarnish Company Phoenix Paint and Tarnish Company Pittsburg Plate Glass Company Purity Paint Company Pontiao Paint Manufacturing Company Purity Paint Products Company Rex Paint Company Rower Blene Paint Ccmpany Rlnabed Mason Company DR. 3 23,746.88 304.50 430.20 290.00 325.00 94.14 168.32 33.75 1,265.29 36.00 28.50 522.00 43.50 41.25 43.50 210.00 10 3.75 261.00 17.29 17.81 82.50 217.50 70.88 43.50 14.00 1,518.59 87.00 203.26 462.01 393.14 67.50 217.50 568*75 17.81 280.00 81.00 140.00 11.41 35.00 13.50 27.00 4,127.36 217.50 244.50 87.00 206.25 493.75 3,250.00 69 6.00 541.00 43.50 652.50 130.50 43.50 130.50 174.88 41.40 523.14 261.00 336.87 234.94 17.06 65.00 130.50 260.00 43.50 217.50 217.50 $ Amounts Carried forward | 45,981.18 | 5 CR. 51.00 51.00 PNYC 00012032 6 CUSTOMERS LEDGER TRIAL 3AIAVCS - A/J-XST 315T, 1931; (Continued) / DR. Amounts brought forward $ 45,921.18 Reliance Varnish Company Ranetlt Manufacturing Company Reality paint Company H. D. Roosen Company The Rechi tin Paint Company Roe sob enamel Range Company Sherwia Ulllame Company Sinclair and 7alentine Standard Paint and Lead Company Standard sanitary Manufacturing Company Steeart Paint Manufacturing Company Slllera Paint and Tarnish Caapany Standard Varnish Works Smith Chemical and Color Works F. K. Spencer Company John G. Legg, Reoeirwr, F. 5. Spencer and Company Standard Glass and Faint Company John H. Shearman Company Seldlltz paint and Varnish Company Sohulte Paint and Laoquer Company Standard Products Company Straw Produots Chemical Company Standard Earthenware Specialty Company Thompson Hayward Chmiloal Company Teras Printing Ink Company Thomson Wood and Finish Company Tibbetts Westarfield Company Tibbette-Carr Company I. H. Thomas Paint Company Toledo -Industrial Paint Company Ttmeproof Paint Produots Company Trenton Potteries Varoraft Works Tadaoo sales Corporation Vansul, Ino. Voisan Perfumer Toddan and Gay Paint Company Wadsworth Howland Company Waterproof Paint and Varnish Company Whittaker Clark and Daniels wm. B. Wamer and Company Welsbaft Paint Company West Paint and VarniA Company Willmor Paint Company Joseph V. Wearer watrous varnish Company Western fcleotrio Company J. H. Wilts Company Taraall Paint Company Tates Haslett Paint Company 43.50 7.25 .35 833.84 43.50 10.13 1,116.88 217.50 478.50 216.75 734.75 923.00 56 5.50 560.25 4,841.33 435.00 105.00 67.50 101.25 130.50 43.50 07.00 39.50 * 149.9 7 17.81 130.00 33.75 87.00 105.00 87.00 140.00 41.75 84.60 945.00 465.75 13.75 43.50 87.19 217.50 264.00 135.00 35.63 617.19 195.50 268.00 200.00 325.00 21.00 1,139.38 43.50 Total | 63,411* 23 o $ :r . 51.00 * 51.00 PNYC 00012033 7 PUNTS 5SC5I7A3L5: The following accounts receivable as of august 2. st, 19.31, were past due and remained wholly or partly unpaid at November 23rd, 1931. Customers Ledger: American Paint Corporation Duluth, Minnesota 6/10/31 Invoice 8/22/31 7/ 1/31 7/ 9/31 7/18/31 7/31/31 590 728 311 853 9 55 1031 $ 130.50 87,00 130.50 217.50 130.50 130. 50 Last payment Date Amount o&lance 8/31/31 8/24/31 i 675.00 $ 826.50 Occasionally slow from 30 to 60 days* A good custccier and considered reliable. Charles H. Brown Paint Company 8/22/88 9/22/30 10/10/30 10/16/30 lo/as/so 11/ 5/30 11/ 3/30 Invoice 2571 1556 1201 1710 1755 1284 1830 Protest Pees 2/25/31 $ 6.36 - Balance 150.00 Balanc. 93.00 233.75 6 2.50 9 3.00 62.50 30.61 30.00 731.62 Bankrupt and assets of vary little value available. Cl&iit filed Septoober 14th, 1931. Prom correspondence with Itr. A. 3. MoDougall, Trustee, the indloatlons are that there will be no dividends. Consider the account a complete loas. Burice - Morris Paint Company Orlando, Florida 3/19/31 Invoioe 359 $ 43.50 6/15/31 43.50 43.50 Considered collectible but very slow. Made a payment of $33.50on September 21st, 1931. -ohn Kennedy Moran Company Los Angeles, California 5/11/31 Invoioe 591 7/ 6/31 361 7/ 6/31 03-1411 $ 43.30 43.50 35.00 6/15/31 43.50 122.00 A ohronio slow account. Peoeived payment of $43.50 in October and $35.00 in November, reduoing the account to $43.50. fill pay but are always slow. Capitol Paint and Tarnish Company Brooklyn, 5.. T. 5/ 7/31 Involce 913 5/13/31 997 5/28/31 1369 6/ 4/31 888 6/ 9/31 948 6/22/31 1140 7/ 8/51 1599 7/10/31 1455 7/23/31 1581 8/ 7/31 1314 8/84/31 1364 $ 260.00 260.00 260.00 125.00 260.00 260.00 260.00 125.00 860.00 260.00 260.00 This ocapany has a good credit rating, but are usually about 60 days behind in pay ing their aooount. - 8/ 3/31 1,030.00 2,590.00 PNYC 00012034 ICCOVNTS BICYIVABLB: Custasera Ledger; (Continued) (continued) Central paint and Varnish Company Brooklyn, Hew York 6/23/31 Invoice 740 7/11/31 8/21/31 901 936 $ 43,,50 43,,50 43.,50 k chronic alow pa7 account but considered reliable, .deceived a payment or $87*00 on Ootober 19 th, 1931. Cook Chinn Company Tranton, N. J. 9/13/88 Invoioe 2736 $ 51.00 Bankrupt* Claim filed October 15th, 1929* Ho proepects of a dividend. JL bad aocount. Drawee and Xrnest Philadelphia, Pa. 4/ E/31 Invoioe 4/21/31 3/ S/31 6/ 9/31 8/10/31 190 t 87.00 374 87.00 523 67.00 584 87.00 830 87.00 This company la alwaya alow in paying their account. Our Sales representative, *r. R. H. Brown, has been trying to colleet the account and they have promised a payment soon. 8gan and Qausman, Lao. Long Island, Hew York 6/ 8/31 Invoiee 6/30/31 7/ 1/31 7/ 2/31 7/ 6/31 7/85/31 7/25/31 7/29/31 8/ 1/31 8/10/31 8/18/31 8/24/31 8/85/31 8/31/31 8/31/31 986 1246 79 9 801 OS 1331 997 03 1615 108S 604 OS 1360 914 08 1368 988 OS 1648 1047 | 130.00 130.00 130.50 130.50 130.00 130.50 130.00 130.50 130.50 317.50 130.50 130.00 130.50 317.50 130.50 k large customer. Have a good credit rating but their aocount la usually past due about 60 daya. Considered a good account. Hapire China Company Burbank, California 10/87/30 Invoice 1877 $ 11.63 Bankrupt. Proof of olaia filed Ootober 12th, 1931. Indications are that a email dividend will be paid coon. 8 Last Payment Dat~e~ Imount 7/24/31 130.50 Balance e/31/31 130.50 51.00 8/13/31 87.00 435.00 8/14/ 31 1,043.00 a,329.00 11.63 PNYC 00012035 ACCOUNTS RSCSIVA3LS; Cuat-mers Ledger: (Continued) (Continued) Frazer Paint Company Detroit, Michigan 6/ 4/31 Invoi ce 6/ 5/31 6/ 9/31 6/33/31 6/34/31 7/ 6/31 7/13/31 7/15/31 8/ 4/31 8/ 5/31 494 516 580 712 736 831 895 919 814 820 $ 168.00 210.00 168.00 126.00 126.00 168.00 126.00 126.00 126.00 126.00 Usually alow but considered good* Reoetved a payment of $594.50 on November 16th, 1931, and two notes for the balance payable In 30 day* and 50 days with Interest at 6<* In terest payable from dates of invoices. Fuller - Clarkson, Inc. Berkeley. California 5/25/31 Invoice 7/ 9/51 769 43.50 873 43.50 Very alow, but considered collectible, H* Friedman and Caapany Oakland, California 6/ 2/31 Involoe 8/18/31 7/ 1/31 7/13/31 8/10/31 8/13/ 31 8/25/31 54a 67* 825 . 923 674 956 968 * 42.75 85.50 85.50 85.50 85.50 85*50 65.50 Always alow pay but reliable* A payment of $899.25 received Ootober 10th, 1931 Flaoeless Paint Canpeny Philadelphia, pa. 5/ 8/31 Involoe 5/ 8/31 567 OS- 989 $ 42.00 40.50 Aocount placed in hands of the Chicago Aiaoolatlon of Credit Men for oolleetion. In their letter of November 12th, they state that a payment of $40,50 has been received and that the debtor promises to pay the balanoe very soon. General Chemical and Solvents Canpany Ashland, Hass* 6/25/31 Invoice 1220 $ So response to statement or letters. Considered a doubtful account. 17*31 Krebs Figment and Chemloal Caapany Newport, Del. 10/15/30 Involoe 03-1740 $ 103.75 This involoe oovera material shipped to Simon Gohd and Sons, Newark, N.J. on order of the Kreba Pignent and Chemical Company, who have not been able to make oolleetion, and there seems to be a question of responsibility for the aocount between them and ou$ District Sales Manager, D. M. Tobey. The acoount is not oolleotlble and we may be compelled to assume the loss* Last Payment Da te Amount 9/10/31 3 124*50 , Balance 8/31/31 1,470,10 7/22/31 43.50 87.00 Q/34/31 259 . 50 555.75 82.50 17.31 103.75 PNYC 00012036 AC:0UNIS R5CEI7A3LS: Oustoners Ledger: (Continued) (Continued) LaPompadour, Iao. Minneapolis, Minnesota 3/21/31 Invoice OS-1496 82.50 Chronlo slow pay. Have a fair credit rating, '.onsidered good. Lehman irothera Jersey City, N. J. 10/ 1/39 Invoice 12/26/29 4384 67,50 4863 3.30 Thl a company has been operating under the direction of a Creditors * Committee since March 1st, 1930, and the time limit for the payment of its debt* was set for February 1st, 1931* 1 further extension of time was made to February 1st, 1933* The committee has made seme progress in strengthening the financial condition of the oompany but payment of accounts in full is still rory doubtful. Mutual Paint Company Paul, Minnesota 5/18/31 Invoioe 3/25/31 5/27/31 6/ 2/31 6/ 4/31 6/ 8/31 6/ 8/31 6/15/31 6/15/31 7/ 8/31 7/22/31 8/17/31 651 731 OS-1319 51# 03- 851 OS- 898 564 OS-1008 636 OS-1351 03-1539 03-1440 $ 43.50 43,50 33.75 43.50 31.88 33.73 43.50 33.75 43.50 33.75 33.75 43.88 Sot extending further oredit. In arrange ment has been in effect during the last year whereby they pay additional on eaoh purchase to apply on the old aooount, and considerable reduction in the account has been made on this basis. Consider the company relisbla and expeot to oolleot the account in full but will be very slow. Midland Faint and Vanish Company Cleveland, Ohio. 5/19/31 Invoice 665 6/ 6/31 571 6/18/31 674 7/14/31 699 8/12/31 678 | 43.50 43.50 43.50 43.50 43.50 No further oredit being given. Making oooasional payments, paid $43.50 on Ootober 15th and $43.50 on November 13th. Sxpeot to make collection in full but will be slow. 10 Laat Payment Das* amount 3a la nee 3/31/31 6/29/31 $ 82.50 $ 82,50 a/18/31 33.75 70.83 8/29/31 54.00 462.01 43.50 217.50 000A2037 pN^C ACCOUNTS FEC3I7A3LE; (Continued) Customers Ledger: (Continued) Norfolk Paint and Varnish Company Atlantic, Mass. 5/25/31 Invoice 119 5 $ 325.00 6/ 1/31 5/ 2/31 846 32 5.00 522 186.00 6/12/31 620 126.00 6/13/31 986 325.00 6/2a/31 1152 325.00. 7/ 1/31 130 5 412.18 7/14/31 1451 325.00 7/23/31 1551 325.00 7/33/31 1631 325.00 8/ 7/51 1318 325.00 8/13/31 1410 325.00 8/21/31 1530 325.00 8/27/31 1614 07 .18 8/37/31 998 126.00 This company has a good oredlt rating but are always slow pay. A substantial payment received In November. Con sidered a good aooount. Ohio Tarnish Company Cleveland, Ohio 5/ 1/31 Invoice 3/27/31 6/12/31 6/20/31 8/19/31 8/24/31 465 739 630 704 918 952 } IS.so ai7.3o 130.50 130.S0 43.50 43.50 This company has been operating under a oredl tore agreement and on September 29th, 1931, three representatives from among the oredltors were plaoed on the Board of Directors of the Ohio Tarnish Company. The operations hare not been successful and the oredltors committee recommend that a reoelver be appointed to proteot the assets of the company. Ms. L. Day was appointed on November 4th, 19 31. The eompany has considerable assets and a fair dividend should be paid. Progress Paint Manufacturing Company Louisville, Ky. 7/27/31 Invoioe 995 $ 43.50 A very slow account but is considered collectible. Phoenix Paint and Garnish Company Philadelphia, Pa. 6/ 3/31 Invoioe OS- 906 7/15/31 OS- 947 $ 17.44 217.50 Have had no response to over due letters. R. H. 3ro*s, odes Manager of our Philadelphia Office, has the account for oolleetion. Considered e reliable firm, but usually slow. U Last Payment Date Amount 8/22/31 $ 1,18818 3alance e/3l/3l 4,127.36 a/ll/a 558*00 696.00 2/16/31 42.63 43.50 7/10/31 65.00 234.94 PNYC 00012038 ACCOUNTS 33C5I7A3L3: (Continued) Customers Ledger: (Continued) Purity Paint Products Company Brooklyn, N. Y. 6/17/31 Invoice 1054 7/14/31 1+41 8/ 5/31 1310 8/17/31 1450 i 65.00 65.00 65.00 65*00 Considered a good account. Occasionally slow pay* Received payments on aocount of $325*00 in November* Roweri Peine Paint Company St. Louis, Ho. 6/10/31 Invoice 8/ 1/31 650 806 $ 87.00 150.50 A ohronlo slow pay account* Letters of October 15th and November 5th have brought no results as yet. John H. Shearman Company New York City, B< Y* 5/11/31 Invoice OS- 987 $ 67.50 Made a payment of $15*00 on October 19th* Con sidered a good moral risk but is not able to pay at present. H. D. Rooaen Company Brooklyn, Hew York 7/ 3/SL Invoice 7/14/31 7/20/31 7/28/31 7/85/31 7/29/31 7/3j/31 3/10/31 8/15/31 8/18/31 8/21/31 8/25/31 8/31/31 03-1325 03-1447 03-1543 OS-1573 OS-1619 03-1669 OS-1669 OS-1378 OS-1436 OS-1456 03-1532 03-1566 OS-1658 $ 63.75 63.75 63.75 63.75 63*75 63.75 62*85 85.94 51.68 51.66 51.88 51.88 155.63 Vbls company has always paid promptly until this fall* A substantial payment received in Sovember* A good account. Ne B*Tn, Conn* Interest added to Trade Aooeptanoe $ 62.63 6/18/30 Involoe 706 697.50 6/24/30 OS-10 34 622.50 6/87/30 811 697.50 7/ 9/30 658 465.00 7/12/30 03-1140 415.00 7/ 24/30 920 465.00 8/12/30 980 465.00 8/38/30 1037 465.00 9/11/30 1068 465.00 10/ 7/30 (Protest Pee) 1167 2.04 Interest 19.16 Bankrupt* Claim filed with John 0* Lsgg, Receiver, February 16, 1931, which was allowed for $4,776*30; eharge of $62*63 for Interest was not allowed* Initial dividend of 5ft - $836*94 received September 2nd, 1931. Reports show profitable opera tions under receivership. Prospects for payment in full are favorable* X2 Last Payment Date Amount 6/ 3/31 | 65*00 Balance 8/31/31 260.00 6/11/31 87.00 217.50 5/19/31 67.50 67.50 8/13/31 159*3B 833.84 9/11/30 697.50 4,841.33 PNYC 00012039 OUSTS HSCSIVASLE: Customers Ledger: (Continued) (Continued) Stewart paint Manufacturing Company Minneapolis, 111 on. 5/15/31 Ih y o Io . 617 5/19/31 661 5/23/31 717 6/11/31 614 6/18/31 698 7/10/31 877 7/21/31 936 8/ 1/31 80S 8/11/31 03*1368 8/15/31 03*1488 J 86.10 86.10 86.10 86.10 86.10 86.10 86.10 86.10 35.40 10.55 This company has a good credit rating, but ars usually slow from 60 to 90 days. Reduoad the aocount $178.20 In Ootober. Considered good* Schulte Paint and Laquer Company St. Louis, Mo. 5/14/31 Invoioe 629 6/ 4/31 570 7/31/31 1017 $ 43.50 43.50 43.50 Considered good but very slow. Reoelved payment of $43.50 on September 28nd, 1931 and $43.50 on October 19th, 1931. Standard Products Company Los Angeles, Calif. 7/21/31 Invoioe 1005 $ 43.50 Considered oolleotlblo hut very alow. Toledo Industrial Paint Company Toledo. Ohio 5/ V31 Invoioe 491 6/ 1/31 510 $ 87.00 87.00 Less Trade Acceptance 5/29/31 $ 174.00 87.00 The Trade Acoeptanse was charged bach to the open acoount In September 1931. Sot able to pay at preseat account of bank failure In Toledo tying up their funds. Indications now are that the banks will reopen on December 15th, 1931, and payment of the acoount Is probable before the end of this year. Mr. H. . Voss, of the Toledo Association of Credit lien, has been appointed Comptroller of this oompany to conserve the interests of the creditors. Tibbetts Carr Company Los Angeles, California 7/29/31 Invoioe 8/10/31 1039 814 $ 43.50 43.50 Sueoeasore to B. R. Tibbetts Paint Company. Have always been alow. Payment of $43.50 reoelved Hovember 18th, 1931. Considered good aeeomat. 13 Last Paymect t Date Amount 8/13/31 $ 132.05 Balance 8/31/31 734.75 8/14/31 54.13 130.50 3/ 9/31 46.50 43.50 4/27/31 46.50 87.00 4/27/31 70.00 87.00 PNYC ^0012040 ACCOUNTS RSC5IVABLB: (Continued) CCTSTOHZRS LEDGER: (Continued) Yanaul, Incorporated w York City, H. Y. 5/ 4/31 invoice 5/ 4/31 5/ 9/31 5/21/31 5/22/31 6/ 3/31 8/15/81 6/23/81 6/ 24/31 6/26/31 OS- 847 03- 845 OS- 967 OS-1171 OS-1173 OS- 866 031004 03-1162 03-1166 03-1194 3 31.50 19.65 126.00 19.65 31.50 126.00 31.50 39.30 19,65 21.00 lot issuing further credit. Hay eventually oolleot the aeeount hut will he very slow. Trade Aeoeptanoe of 3393.75 charged haok to open aooount in September, 1931. The Chisago Association of Credit Hen have the aoeount for oolleotion. A payment of 3300.00 was received on September 30th, and a payment of 3200.00 vaa received on Horemher 9th, leaving an unpaid balanoe of 3439,30, Vilmar Paint lanufaeturing Company Wilmar. Xinn. 4/21/27 Irrvoioe 03- 144 8/31/27 OS-147* 8/27/27 03- 481 f 120.30 54.00 *1,0. The aeeount la in the hands ef I. 3. Pu b and Company for oolleotion. They have brought suit and default Judgment has been secured, and an execution placed in the hands of the sheriff. There art a large number of exooutlons in the hands of the sheriff prior to ours, so the prospects of oolleotion are very remote. Consider this a bad aooount. Yurn.ll Flint Coijiiny Phllid.lphli, Pi. 5/27/31 InTOlo. 7/23/31 8/12/31 8/11/31 8/19/31 775 979 OS-1396 866 930 | 435.00 217.50 51.88 217.50 217.50 A good aeeount but uaually alov. Kik. ngnlir payments but average about 30 days overdue* , The aooount haa been rcduoed in lovember. u Last Payment Date Amount 1/13/31 $ 300.00 ' Balanoe 8/31/31 * 465.75 7/ 9/81 10.18 195.50 6/14/31 652.50 1,139.38 SBHORS UP DISCRXPAHCH3: CUSTOras UXP; Teltom Sibley and Company footings of aooount to August 31st, 1931 Should be DR 36,643.50 6,635.50 CR. 36,384.30 6,394.50 PNYC 00012041