Document xj9V86vzK2a2LdJRrxXGNOEMb

52 31 SUMMARY TRADE 1 BANKING CHANGES CURRENT A AD 65 AUG 16 * 952 N COOK PAINT 4 VARNISH COMPANY (INC.) 1913 MANUFACTURER, V.'I SOLE- Mth & KNOX STREET SALER & RETAILER NORTH KANSAS CITY 16 MO TRADE CLAY COUNTY SALES WORTH Ef-iPLS A a AI Also branches DlSC-PPT / $20,633,750 (Six Months) $22,912,995 1900 SALES IN Tr!E FIRST SIX KOMTKS Or CURRENT FISCAL YEAR ARE UP MODESTLY. SALE Or RADIO BROADCASTING SUBSIDIARY HAS REDUCED EARNINGS. FINANCES ARE MAINTAINED IN LIQUID ORDER. HC 41000 32000 15600 5000 1000 500 300 3000 2000 500 390 20527 1000 142 C/E 13000 11000 1000 4000 4C0 100 5C 200 9030 47 P DUE TERMS Aug 2 1962 5-15: 4-45: 45 Disc MGth & 25th Disc 1-10-30; 1- 15- Di sc 30 Djsc Roq Disc 2-10-30 Disc Disc Dj sc-Ppt 1-10-30 Dj sc-Ppt I-10-30 Disc-Ppt 2-10-30 Djsc-Ppt !0th Prox Ppt 30 Pot 30 Ppt SOLD Over 3 yrs to 6--62 Over 3 yrs Over 3 yrs Over 3 yrs Firs-t Sale Over 3 yrs to 6--62 Over 3 yrs Over 3 yrs to 7--62 Over 3 yrs to 6'-62 Over 3 yrs to 6*-62 Ovsr 3 Yrs 1 yr to 6-62 Balances are maintained at two local banks along with accounts at St. Louis, Missouri banks, one 0. ,Yolt, Michigan bank and two New Ycrk City banks in addition to ftjmorcus convonlonco accounts at points of operation. Aggregate balances average in the moderate seven Mgures. Dank loans have been used during several months Into low seven-figure recounts on straight corporate note basis. Obligations cleaned up. periodically. Subject concern has completed almost o year of remodel Inci and redecorating It's research facilities, a f|vo~stcry building at 820 East Fourteenth Street. Research facilities have been doubled end Include the following: Laboratories In orcMtecttirfi pioUu*-i&., emulsions, jndusfr*-* r/.fShss, lithograph nd can coatings, resins, now products ut-avy duty maintenance and service laboratories concerning colors, cSo*istry, exposures end analyti cal problems. Tha company also mjintalr.s an automotive finish laboratory jn Detroit, Michigan and petro-chomJcal finish laboratory In Houston, Texas. J, Robert Mosby, Vice-President of subject In Detroit, Michigan, died In June, 1952. Effective July I, 1952 Dorman II. O'Leary, Vice-President and Earl W. Wad low, Vice-President, have retired. O'Leary remains as a di rector of the company. In a public news release of July 17, 1952 to the Kansas City Times, manage' ment announced the following comparative operating figures for the six months ended: (CONTINUED N18813 CLD020292 ESS AND STREET ADDRESS CS ESPOND WITH YOUR INDllRY. COOK PAINT & VARNISH COMPANY (INC.) NOR1H KANSAS CITY 16 MO A AD ADO 16 1902 Page 2 May 31 1962 May 31 1961 Net Sales Net Earnings $ 20,638,750 326,918 $ 19,973,893 512,159 [otal earnings were down due to the sale of the broadcasting subsidiary. Cock Broadcasting Company to Metropolitan roHcastinq Corporation. August, ?.7, 1951. On August 6, 1962, Stanley M. Cox, Assistant Secretary-Treasurer, wonfirmeu the officers and operations. Cox referred to the interim operating figures as the latest available on the company at this time end indicated no important changes in operational trend are Indicalcd fer the coming months. Reference is made to the November 30, 1961 financial statement as continuing to fairly represent the company's present position. Finances are maintained in liquid crcler with cash and marketable securities covering total debt. Substantial improvements in the company's current position have been effected through the previously mentioned sale of the subsidiary. Cook Broadcasting Company. The company has at times In the past used outside financing in the form of unsecured bank loans to a low seven-floure amount In support of oper ations. This assistance when coupled with internally generated funds has permitted prompt retirement of obligations. 8-16-62 (16 35) GLD020293