Document v6bMaqXzdV520NBZ2g2kqDGV9

ACCOUNTS RECEIVABLE (Co n t in u e d ) Cu s t o me r s Le d g e r - Wh it e Le ap De pa r t me n t Le d g er De b it Ba l an c e , Ju n e 30t n , 194-2 Th u b a l a n c e is o e t a il e o a s f o l l o w s : Cu s t o me r s Ac c o u n t s Re c e iv a b l e Un c o l l e c t ib l e Ac c o u n t s Fr e ig h t Cl a i ms In d e bt e d n e s s o f Un c o n s o l io a t eo Su b s id ia r ie s : An ac o n o a Wir e a n o Ca b l e Co mp a n y In d e b t e d n e s s t o Co n s o l id a t e d Su b s id ia r ie s : Mo n t a n a Ha r d w ar e Co mp an y Ac c o u n t s o u e Ot h e r s $ 60.104.57 $ 58,691.37 1,131.58 (I) 413.36 5.27 128.56 ( 2) 8.45 $ 60,10A,57 (1) Th is a c c o u n t s h o w s $1,081.58 o n l e o c e r c ar o d u e t o a n e r r o n e o u s AMOUNT OF $50.00 BEING TAKEN UP AS A DEBIT ANO CREDIT ON JOURNAL Vo u c h er Nc . 810 o f Ju n e, 1942. Wh e n e n t r y w a s p o s t eo t o l e o c er CARO, ONLY THE CREOIT AMOUNT WAS TAKEN UP. CORRECTION OF TH IS DIFFERENCE WAS IM OE IN JULY, 1942. (2) In r e p o r t in g f o r p u r po s e o f Co n s o l id a t e d St a t e me n t s , t h is it e m WAS ERRONEOUSLY CLASSIFIED AS "ACCOUNTS OUE OTHERS". Th e f o l l o w in g is a l is t o f a c c o u n t s b n ic h , a t Ju n e 30t n , 1942, h a v e BEEN ON THE BOOKS FOR A PER 100 OF NINETY OAYS OR MORE! As pl u n o a n o Ol s o n Pa in t St o r e $ 171.38 Ac c o u n t o a t es f r o m Ma r c h , 1942. Pa io $75.00 in Ju l y , 1942. Ac c o u n t is c o n s id e r e d c o l l e c t ib l e . Co me 1n -- Wil s o n Co mp an y 447,00 Ac c o u n t o a t in g f r o m Ja n u a r y , 1942. Ap p ea r s t o b e v e r y SLOW PAY BUT IS CONSIDERED C000. LAST PAYNE NT WAS REC EIVED in Ma y , 1942, w h ic h t o o k u p Oc t o be r , 1941, in v o ic e s . No in t e r e s t is b e in g c h a r g eo o n t h is a c c o u n t . Ha mp o e n Co l o r a n d Ch e mic a l Co mp a n y $ 800.00 Or ig in a l in v o ic e in a mo u n t o f $3,015.00 d a t in g f r o m Fe b r u a r y IOt h , 1942 is b e in g r e o u c e o b y mo n t h l y p a y me n t s . Pa io $400.00 in Ju l y , 1942. A g o o d a c c o u n t . La g es c h u l t e a n o Ha g e r , In c . $ 260.20 Ac c o u n t o a t es f r o m Fe br u a r y , 1942. Pa io $69.13 in Ju l y . Co l l e c t ib l e b u t s l o w . PNYC00000982 N10139 CURRENT ASSETS ACCOUNTS RECEIVABLE (Co n t in u e d ) CUSTOMERS LEDGER ~ WHITS LEAP DEPARTMENT (CONTINUED) Mc At TSE AMD COMPANY, L.J. Ac c o u n t d a t in g f r o m Ma r c h , 1942. La s t p a y me n t w a s r e c e iv e d In Ma t w h ic h t o o k u p No v e u r e r a n d Oe c e n b e r , 1941, in v o ic e s . Ac c o u n t is c o n s id e r e d c o o o . Pa c k ar d Pa in t a n o Va r n is h Co mp a n y Re ma in in g b a l an c e o n o r ig in a l a mo u n t o p $640.00 f o r r e t u r n a b l e c o n t a in e r s s h ip p e d in Se p t e mb e r , 1941. Ac c o u n t is BEING GRADUALLY REDUCEO. Ame r ic a n Te r min a l Co mp an y - Fr e ig h t Cl a im Cl a im f o r l o s s o n s h ip me n t o f 400 p o u n o s o f Wh it e Le a d in Oil . Cl a im, No . 1187, w as f il e d in Ju l y , 1940. Th e Tr a f f ic De pa r t me n t w a s c o n t a c t e d r e g a r d in g t h e s t at u s OF THIS CLAIM an o THEY AOVISEO THAT "CLAIM WAS IN THEIR CURRENT FILE". In v ie w o f t h e t ime t h at h a s ELAPSEO, IT IS r e c o mmc n o e o t h a t THIS CLAIM BE WRITTEN OFF. Un c o l l e c t ib l e Ac c o u n t s Bo s s o n c , Pr ep . J. Or ig in a l a c c o u n t o f $191.04 o a t e s f r o m Ju n e , 1940. Cu s t o me r IS NO LONGER IN BUSINESS ANO ACCOUNT WAS PLACED IN HANDS OF c o l l e c t io n a g e n c y . Af t e r t h e y w e r e a b l e t o c o l l e c t $125.00 THEY ADVISEO, ON JUNE 29TM, 1942, THAT CLAIM FOR BALANCE HAO SEEN PLACEO IN HARM OF ATTORNEY. Th is ACCOUNT WA8 UNDERSTATED ON LEOGER CARO BY $50.00, AS HAS BEEN PREVIOUSLY COMMENTED ON UNOER THIS ACCOUNT. Cr o c k e r 's Pa in t a n o Pa p e r St o r e Or ig in a l b a l a n c e o f $200.00 o a t e s f r o m Ju l y , 1940. *ccoutrr WAS TURNED OVER TO COLLECTION AGENCY IN Ap r il , 1941. PRESENT INDICATIONS ARE THAT BALANCE WILL PROBABLY BE PAIO IN FULL. Pa y n e n t or $25.00, l e s s c o l l e c t io n f e e o f $3.75, w a s r e c e iv e d In Ju l y , 1942. Cy p r e s s Pa in t a n o Wa l l p a p e r Co mp a n y , In c . Ba l a n c e o n o r ig in a l a c c o u n t o f $100.40 w h ic h o a t e s f r o m De c e mb e r , 1940. Cu s t o me r e x e c u t e d an a s s ig n me n t t o New Yo r k Cr e d it Me n 's As s o c ia t io n o n Ju n e 12t h , 1941. Ou r c l a im w as f il e d Ju n e 26t h , 1941. At Oe c emb e r 31s t . 1941, $75.40 w as c h a r g e d o f f a g a in s t Re s e r v e . La t e s t c o r r e s p o n d e n c e w o u l o INOICATE THAT SOME RECOVERY MAY BE REALIZED. $ 53. 1A $ 132.00 $ 39.38 $ 66.04 $ 75.00 $ 2S.00 PN7C00000983 if CURRENT ASSETS ACCOUNTS RECEIVABLE (Co n t in u e d ) Cu s t o me r s Le d g e r - Wh it e Le a p De p a r t me n t (Co n t in u e d ) UNCOLL ECTIBLE ACCOUNTS (CONTINUEO) INCA PAINT Ma HU FACTUR INC COMPANY Or ig in a l a c c o u n t or $191.S3, o a t in c f r o m Ma y , 1941, w a s PLACED IN HANDS OF COLLECTION ACENCY WHEN NO RESULTS COULD SC OBTAINED THROUSH C ORRCSP ON OENCE. PAYMENT OF $180.00, LESS $34.50 FEES, WAS RECEIVEO IN DECEMBER, 1941. La t e s t c o r r e s p o n d e n c e o n f il e s t a t e s "Th e a s s e t s in t h is c a s e ARE NEGLIGIBLE AN0 FROM ALL INDICATIONS THERE WILL BE NO DIVIDENDS TO CREDITORS". Th is c u s t o mer is a l s o o n t h e b o o k s o f t h e An a c o n d a Sa l es Co mp an y f o r $175.38. Lil l is o r c a n d Co mp an y , V.E, Or ic in a l a c c o u n t o f $511.52, d a t in g f r o m Se p t e mbe r , 1941, WAS TURNED OVER TO Ch ICAGO ASSOCIATION OF CREDIT MEN FOR COLLECTION. A OIVIOENO OF 20fC, OR $102.30 WAS RECEIVED IN Ap r il , a n d f in a l o iv io e n o o f $57.34 w a s r e c e iv e d in Ju l y , 1942. Ba l a n c e o f a c c o u n t , $351.88, w a s c h ar c eo t o Re s er v e in Ju l y , 1942. Ma x Pa in t a n o Gl a s s Co mp an y Pa id Ju l y 30t h , 1942. Mc Kin n e y Br o t h e r s Co mp an y ORICIKAL ACCOUNT IN AMOUNT OF $380.50, OAT INC FROM AuagST, ' J940, WAS TURNEO OVER-TO COLLECTION AGENCY IN Ar r |L> 1941 . An y f u r t h er c o l l e c t io n a p p e a r s t o b e o o u b t f u l . Mu t u al Pa in t Ma n u f ac t u r in g Co mp a n y Th is a c c o u n t d a t e s f r o m Fe b r u a r y , 1942. Cu s t o me r is o n v e r g e o f v o l u n t a r y b a n k r u p t c y a n d p ay men t o f a c c o u n t is qUITE DOUBTFUL. CUSTONER IS ALSO ON BOOKS OF TIC An aCONOA SALES COMPANY IN AMOUNT OF $352.88. O'Co n n e l l 's ORIGINAL ACCOUNT OF $130.99 OATES FROM MAY, 1941. BUSINESS WAS ASSIGNED FOR BENEFIT OFCCEOITORS AND OUR CONSENT TOGETHER WITH CLAIM was FILEO IN SEPTEMBER , 1941. $ | | .63 $ 409.22 $ 42.12 $ 200.00 $ [54.00 $ 25.00 PNTC00000984 CURRENT ASSETS ACCOUNTS RECEIVABLE (Co n t i n u e o ) Cu s t o me r s Le d g er - Wh it e Le a p De pa r t me n t (Co n t in u e d ) Un c o l l e c t ib l e Ac c o u n t s (Co n t i n u e o ) O'Co n n e l l 's (Co n t in u e d ) A OIVIOENO OF $13.09 WAS PAtO IN DECEMBER, 1941. OF THE REMAINING BALANCE, $92.90 WAS CHARGED TO RESERVE tN De c emb er , 1941. On Ju l y 9t h , 1942, Du n a n o Br a o s t r e e t a d v is e a s f o l l o w s : "He n r y O'Co n n e l l d is c o n t in u e o t h is b u s in e s s , s o l e h is HOME ANO LEFT TOWN. THERE IS NO SUCCESSOR". Pa t t o n Su p pl y Co mp an y , In c . Or ig in a l a c c o u n t o f $33.00 d a t es f r o m Ma y , 1941. Ac c o u n t WAS TURNED OVER TO COLLECTION AGENCY IN FEBRUARY, 1942. Pa y me n t o f $(5.00 w a s ma o e in Ma r c h , 1942. Or l y p r o b a bl e MEANS OF COLLECTING BALANCE IS BY SUIT. Th e Pa i n t Par ACCOUNT OATES FROM SEPTEMBER, 1940. ACCOUNT HAS BEEN IN h a n d s o f Ch ic ag o As s o c ia t io n o f Cr e o it Me n , a n o a l s o 8r u h n k e a n o Sil v e r , w h o b o t h h a v e r et u r n ed s a me a s u n c o l l e c t ib l e. Pio n e er Pa in t a n o Va r n is h Co mp a n y Or ig in a l a c c o u n t in a mo u n t o f $29.01 o a t e s f r o m No v e mb er , 1940. In De c e mbe r , 1940, c u s t o a c r e x e c u t e d a n a s s ig n me n t FOR BENEFIT OF CREOITORS. In Ja n u a r y , 1941, a o iv io e n o o f $5.80, o r 2011 w a s r e c e iv e d , ANO A FURTHER OIVIOENB IS ANTICIPATED. Ra in -On -Pr q o u c t s Mf c . Co r p o r a t io n Ac c o u n t o a t eo f r o m Fe b r u a r y , 1942. Cu s t o me r f il e o v o l u n t a r y b a n x r u p t c y in Ma y , 1942, a n d o u r p r o o f o f c l a im w a s f il e d o n Ma y 22n o , 1942. As s e t s o f c o mp an y h a v e b e e n o f f e r e d f o r s a l e . No f u r t h e r INFORMATION IS AVAILABLE AT THIS OATE. $ 18.00 $ 17419 $ 23.21 $ 65.17 PNYC00000965 CURRENT ASSETS 22 ACCOUNTS RECEIVABLE (Co n t in u e d ) Re s e r v e f o b Do u bt f u l No t e s a n o Ac c o u n t s Le d g e r Cr e d it Ba l a n c e, Ju n e 30t n , 1942 $ 45|j 8534 RECONC ILEMENT Dr y Zin c Ox id e Wh it e Le a p 'Le a d in Oil To t a l Leo s er Cr e d it Ba l a n c e , Oc t o be r 31s t , 1940 $ 31,066.08 $ 5,088.31 $ 4,044.98 $ 40,199.37 Cr eo it s - No v e mbe r 1s t , 1940 t o Ju n e 30t h , 1942, In c l u s iv e! Ac c r u a l s f o r r e r io o Re c o v e r ie s f o r p e r io d 111.84 4,562.16 5,614.94 10,177.10 149.04 18.81 279,69 $ 31,177.92 $ 9,799.51 $ 9,678.73 $ 50,656.16 Oe BITS - No v e mbe r 1s t , 1940 t o Ju n e 30t n , 1942, INCLUSIVE! Lo s s es c n a r s ed t o Re s er v e 902.22 16.50 4,152.10 5,070.82 Le o s e r Cr e d it Ba l a n c e , Ju n e 30t h , 1942 $ 30,275.70 $ 9,783.01 $ 5,526.63 $ 45,585.34 Ra t e o f Ac c r u al Un c o l l e c t ib l e Ac c o u n t s - Ju n e 30t h ,1942 Zin c Ox io e De p ar t men t Wh it e Le a d De p a r t men t An a c o n d a Sa l e s Co mp an y No n e .0025 .0075 $ 100.00 $ $ $ 100.00 977.58 154.00 1,131.58 561.89 170.56 426.68 1,159.13 $ , . $$ 661.89 1 148 14 580.68 $ 2,390.71 Sl o w Ac c o u n t s - Ju n e 30t h , 1942 Zin c Ox id e De p a r t me n t Wh it e Le a o De p ar t me n t An ac o n o a Sa l e s Co mp an y $ $$$ 932.00 971.10 1,903.10 46.50 313.85 360.35 $ $ 978.50 $ 1,284.95 $ 2,263.45 To t a l Po s s ib l e Lo s s e s $ 661.89 $ 2,126.64 $ 1,865.63 $ 4,654.16 9 9 6 0 0 0 0 0 3 ANd