Document zz4B0Yyn1QgkRpKNR4obVra4m

MOODY'S MANUAL OF INVESTMENTS 2581 frittArtOIAl. A OPSHATIfia DATA Ibtiiilul Rtwr* Eamrtj per xharc------------------- ------------- - Of*. id*rs"i 'C" shire................ ,..--- Wee r.ir? . . ...----- -------------------- Nr; resets pec attire Kuml-ef r.f ^hrfore........................ .. 1948 SI.01 jfo.as 53a-4 S4 69 4.891..140 1947 80.26 $0.15 7i -4>,i $4.04 15.000.000 1946 $0.32 Nil UH-5',1 $3.92 15.000.000 194$ $0.08 $0.15 12-5 V* $3.60 18,000.000 1944 $0.27 $010 6*6-3* $3.68 15.000,000 ifa 5(1.32 $0.10 5-2*. $3.90 15.000.000 194} CJl .10 U.009M0 rL-.nre'-al 4 Operating Ratios Purrsnr arsr.ir r- current liabilities.... `V . a>h ... r:t <s- to current assets % xnven;; r / m current aueta.......... \ nut currv:.: ;-Heta to net worth...- pr-rperty t i-r, cuicd ____________ -- 'V drf.je. i. gross property... * *>7 5L75 LT2-24 Ji.t.11 <. 15 2.00 47.24 38.73 57.13 32.05 5.23 2.66 8S.02 20.16 62.17 35.58 4.51 1.67 64.21 9.34 64.65 40.60 8.42 1.39 43.31 12.91 64.51 47.10 4.67 1.3G $5.S 9.94 62.41 44.88 4.09 n.4i 17.40 4TJ0 11.41 ill CtpuaHsAUfu u-o.ti::k ". iork Sc surplus ........ sale* r inventory .....------- .......... !* . > r cfVtibies .................... y *nie. m ni:i nroperly _______.... % idles t-x tylat assets..................... `A net nv.-of/.e to total assots................ <v r.f*i Income tv* net werth..... .'.ualy>i of Oparstionl -.1 .................... ....... Sr5ijr.iT. tMt. .v e-:imin. exo. . ................... -.......... Giber !:: >me .......... -- ---- c -.cy <*.- p*...t-war ndj. reserve. Net ice-. bofer-* ire tax. etc..._-t.Kt'i a. ;: v;rux ..................... 100.00 9.72 30.46 927.90 216.27 U.09 21.61 loofoo 84.77 5.07 10.16 0.52 10.68 io.es 4.17 100.00 6.U0 31.85 505.89 167.93 4.75 6.46 % 100.00 93.00 7.67 d 0.67 0.68 0.01 001 cr 0.79 100.00 6.71 38.80 443.83 131.16 5.96 8.21 % 100.00 95.66 7.98 d 3.86 1J8 4 2.58 d 2.58 cr 4.16 cr 0.24 100.00 27.17 26.76 1.080.05 203.30 1.05 2.12 % 100.00 95.74 3.52 0.74 0.53 1.27 0.15 M2 0.60 300.00 28.14 19.51 523.34 204,30 72 7.47 % ioo.no 93.3* 1.42 5.23 0.20 8.43 a 22 0.6! JJ?(J 4.30 100.00 28.21 14.21 1.803.04 238.40 3:23 9.05 % 100.01) 90.94 1.61 7.45 0.22 7.67 0.29 7"33 6.01 100.00 10J4 11.10 UNOW 103. XM l%il 100.00 01.73 1J4 7.00 0.77 0.75 0.80 1.40 0.17 4.11 Tic-* :u* . :!>;.r n.-qthred ........................ y-ji -,;r.u-::e............. ..................................... CAPITAL. STOCK 1. P M'jtjr Car Co. common: no pin / yyj,o ../* shares (increased tv ' 3 -,r0 &nar?M in Oct., *919. U-J.. !m, ' -.1 h. j `."J ..:id to 25.000.000 Sept. 5 !.).*. i0 shares: outstanding -v ir. : .-i;r**. sharps; n . vr1 .. :ir.s p;r *v-.i atU par in O .* h;r.v jot each .{ .1 l .1 .* \l*k \m >'.u in Oct.. ` liv.c; in? la-.-h SlOOslwrc ; .. . . : .M b |;t. I'. '.MW. 5 0 P*ir . ..-<J . . .'liyi u . Record <n $) 6.51 "cr 2.03 2.83 cr 2.73 4.5$ 0.83 0 1.37 "300 (110 p*r tbirei after 10 for 1 atoek apllt) 10 - 1.00 'J23 I UO 5 l;t26. 2.S0 1921-- NU [51922 0.50 1924-- 1.50 SI1925-- 1.90 1927... 2.60 1923... 5.30 - 10% In stock. SDPlus i3% in stock. JfiPoid prior to stock split. ffiTo Mar. 29. PREEMPTIVE RIGHTS--Has rights to sub scribe pro rata to all shares to be issued* V U)2'J. 4.00 LISTED--New York and Detroit Stock Ex changes and unlisted trading on Boaton. San 1932-35 }93g-t0 I34(i... 0.30 Nil Nil Nil 0.2j 1930... 3936... 1941-44 1947... 0.90 0.45 0.10 0.15 1931__ 1937.-- 1945... 1948--. 0.45 0.25 0.15 Francisco, Chicago. Cincinnati and Pittsburgh Stock Exchanges. Deposit certificates listed on Amsterdam Stock Exchange. 0.35 TRANSTER AGENTS--Guaranty Trust Co- New York and company's office; Detroit. dividend poid in 1813. Si QFIus REGISTRARS--City Bank Farmers Trust Co., <;rj% in stock. SFliu New York, and Detroit Trust Co- Detroit. t \ ; r*r sh refci ...o... v r.it . sail -15 Nil T1916... 7.00 14.00 PRICE RANGE-- Common ______ 194S 1947 588-4 7*-4*,4 PITTSBURGH PLATE GLASS COMPANY --A1. rC:7nAnuLni.c->^,^T :R.-Ci/"Ciu7T.VU'"R'lZ7";l,""^".'<Tar*'"c,r.ai-geV1sPa11al0fuorer Axocunt Outstanding deprSo/eJSfa0.t1ioSn2 sthos. Earned per Sb. 1948 1947 repSf$a3c.e3m3 cnt$3c.o11st Divs. per Sh Call 1948 3947 Price $1.75 $1.70 rather than an origin3i cost Price Range 194ft 1932-48 39*8-30 ha.sis. Berore such ap- ;V. r :;vl v-ns $'i w ? Range since 4-Ior-l split in 1945: range from i:i.72 and to the spin in 1945, I60',a-m*. riliTORY i'x. * \r, 4ix.-l <.. ... wry ,\ f- r.- v i '.' * l.-t: in Pennsylvania Aug. 24, 1883 .rj-tou in Pcnvisylvuais Nov, 3, >..*t svr.r. `.'v. Pjuen-Pltcaim Co. a Cre.i.ie.i Co. both incorpo- ,t-/. .'.u-.ia :n Xov., tySO. Fot c.e- in )v-2fi r.en CTapital Stoek V .ium-P*u airn Co was a hold* m;' all the nuwtanding r .('.a 7';iint Co of Milwaukee, ..i i-'iv-.ic CItiaS purchased a {t.f ir. yi'.'l subsequently . r.'.j H.'niiou*. Klelnle ; o' naftiniore, in - ph tie G. H^uujrcd a 48% i . ftp-! njurcquently ac- :;> :':t<c rn Vnrnish Co., .:;>iy In 1383 the ;y. '.iictor.v in the . tv i Cri'iY.htcn. .t.i-r.y a oibSK;i.iry .'fTjO'ir^ e.= -.'h acquired a f'ii!b!iriih .Safety Gla.sj :x'\ ehinjTed to Duplate raou'd .i fl.i.uo.ooo plan? < . ;he lure /.f rr-:. i.i.yV ;;5:'Te 7?la;S mfi.: In :$3I ec- ' Du.j!.'.K* Cori^ ..e.1 Cnler Co of v - -if ftnlthee. ' T.-ler Color Division, a . f.-U. ot ji/t.let;.'' o .\n f.r.otn Cyan.imid n Alkali Corx>. Mn which n M'- stock interest * v. *`i i" '.`"Ti- Glas* r ' i ic-: r r-1 'ou:o:r:rh r!.:cc ;,u. .s:-g products, in exchange for 34.034 $10 par com- mon shares of Pittsburgh Plate Glass Co. Both are now operated as divisions. In Apr., 1947, acouired Forbes Varnish Co., now operated a, Forbei Finishe* Division, a unit of the Paint Division. and Cixarlcroi St Belle Vernon R.R. Co,, vvholly-ownwd subsidiaries, were liquidated and dissolved. _ On Jan. 21. IS 16. Southern Phillips Corp. owned! was merged into Southern Pipe Line Corp. (Sl'.i owned). During 1948. ioJJowing wholly-owned sub sidiaries were liquidated: Allied Paint St Gloss Co.. Altoona GI.iss & Paint Co.. Anthony U'.ivne Gtass Cu.. Canonsburg Punt 8c Glass Co*. Columbia Development Corp.. Queen City Pauu & Glass C- o. and UIJnnm.niowr. Puint Sc niabs Co. AJbj, m 1 iJ4r*. purchr.cu Mirronixcr i-r .*ce..`-.ng Co.. Moores,lo;vn, N. J . manufuc* UifiT of msoclicici.-s, and acquired n con* uollmjf interest in Midvale Coai Co.. Midvalo. Q.. which was subscquriitly liquidated and now civerated as ;i iiivi^on. )n iomily with Kuppei's Co., me. (set* general index* ionr.tid Ko^ikts Piris!iUi',-*h CO. lur production of pluhalic anhydride iu.<ed jqr prowlucin*: m in paint r.ianjJactiir^/ with plant liKatvd nt Kohuta. P:u. operation oi v.-Kich boqan in jan.. iu-.'J. SUBSJOIARICd I'utcnt tuneUvtv.i chiefly as an operaLnji (-oiopany. As ui Die. .'Jl. 191-:. owned of ;hu voting control of the lo.lowntq: C. A Michel Co. 'Pa.) Ciu iV.tsburou do Vdrcs a CnsluU iVlra^tli Crystal City Milling Co. (Inactive; CeiH.na Paint Sc Glass Co. Inoicna Manufacturing Co. Ivoroid Mixed Punt Co. t Inactive > H. W. Johns Paint Mfg. Co. (Inactive) Kington Paint A Cbnu> Co.. Inc. of the voting control of the following sub- ^diaries:__ _ . Guriey-Comsto-k Corj). (j3.J-5 .<) Southern Petroleum <?orp. (51 *# /inactive) E. J. White Point & Varnish Co. (Inactive) _ (87.50%)__n_a_da. Ltd. (Windsor), (L61td.6.9C%(Ca) annaadaaa,i {u(wf.fi,l Duulatb Tod St Die. Ltd. (Canada) (100,t0 Smith Sc Slone. Ltd. (Can.idai <103V.) Safety Gii'ss Slandtirds. Ltd. (Canada) Canadian Steatite Co.. Ltd..(Canada) (100%) M|ip..hv i tl-.orp-H emhcock. Ltd. tC^naUat tl00fti 4 [^Equity of pltUburgh Plate Glass Co. in c..pnat stock ol southern Minouds corp. is .'lie. a*Sv appended statement, i Euuiiv of Pittsburgh plate Gins? Co. in ropil.i; stock of Eoufocrn Pipo Line corp. m ' ^Votc: Owns 30% of voting control of Pitts- bu-Kh Corning Lur^. und Xoppera pUtanurgh C-. U-cu Hit lory . .,, In itK i. acquired n ivsnorily interest in Com- panhia PuuIU.a dc Vidro piano with a window giaes plant ut Sao Paulo, Brasil. Alsu, to gether with Corning Glass Works, acquired minority interest In two other South American giass pmciiicing entorrriscs, Crlstalerias Rigo- leau iBuencs /`urta) and Santa Marino Co. iSao Paulo). BUSINESS A PRODUCTS Principal industries served are the automo bile. wmcii couiu/iie* tbe cumpiiny K iarcty glr.su .liiu finishes, and the building, which uses paints. v^ii.*.4iMcu. oruihes, winoow glass, plate rflass a:i<i narrors. 1'r.nivs ;j? line of the two leading producers Of rv. Co . Su/.:asr> . V. r c*v` >-.;viiSli ujted : . : * v :M:\pr.n> fv., ?* "Hr, 0,, tA-d riC eup'taJ (. \J - ; r-t -.uc Sa -t feiu*-- i,;. MiUJl Is* i.. tr.e Ijusmera and factory 4 i Co. no. ar*1 jn Mar., Iyt6. M. B. iPa i, a manufacturer of paint Nevius Paints, Inc. T. H. Ntvln Corp. Pntton Paint Coro. (Inactive) p&ut-'hkcvpsie I'mat & Cmat Co.. lac. (fur- merJy Thomas V. Lacks ye Paint Sc Glaaa Co. > The Rainey Stores. Inc. bCv-;cKl(ry jlaxduare 6c Paint C*.>. t?-fitti. Anory;v.e ues Giacet de Co.irccUcs 'LeUiumt Sunset Pafnt Coro. iJnaeMve) Thresher Paint St Varnish Co. fO.J v.'esco Pauu S* Glass Co., inc. As of Dec. 31, owned Jess than 109% ot piuie G'uas tcapadty iUUtUJL\OCd q. it. yearly;, wluch iu u*ed prmcipall;.- by the autumuuiie indufctri )u the form of safety glass which comprine.-i two sbet& ot plate glass urvistd together witti a piasrue. interlayer, yj.-.te glass u also used tot ct-uve fronts, muruns. etc. fhicliA 3 one of the leaumg proaueers of Mhcfi ur window clai?.. foiu under uie trade Mire Pennvcsnon. Chtet law rr.alonals ol tins division art; soda ash. s:.i:ci iuiicitona and vinyl plastic. RnuKs as uiie of the leading produce*"* of paint, varnish, lnequer ano brushes, v/hich are sold In larga quantitieatoautoiftObUa PLAINTIFF'S EXHIBIT U-686 MOODY'S MANUAL OF INVESTMENTS Mctoriei are located *t Ilenryefct*, Ofcla., MANAGEMENT : .a.Teiy - "Vpe.l '. r'ue -'i J ik-ti!! .-sue or *"d .9i Mount Vernon. O.. and Clark*bur*. W. Va. -'.H tviAS of homo. Industrial, automotive, i. ... ;n^\ind other paints una finishes nro made Pjint Division m ten pauus located at \l{ \' ,m'xv V. js... Detroit, Mich.: Newark. N. 'i ; -jrti'uncl Ore Dayton and Cleveland. O-; iL.n.tii. Texas: Los Angeles. CM.. l'ntsbtirgn i.i.,, .S, i module, hu .uiul Uy siilisuuary at Mon* i:. Lulled od is made at Ned Wing, Minn., .mu V. subsioiars at Montreal Vaml and .ii' t-r .'iru^hcs niv produced at Baltimore. Md.. K* v:;*.. N. H.. and s>nn Francisco. Cal. paint . .::L* ^rounds are located at Ft. Laudcraaic. i-.a . Newark, N. J.. and Milwaukee, Wis. A More front metal factory Is located at Kjkomo. lnd. Aii uiis and other chemical* are produced .ii Barberton, O.. Bartlett. Calif., and.at N.nrvjm inear New Martinsville), W. Va. purchased from RFC in exercise oi e -uoni. aisc through a subsidiary, southern A::..jii t`oi p. with plants at Lake Charles, La., t.'urijfs ChriJiti. Tex. uti.or activities include a cement plant at 2 -Mvsviiie. O. I2.oiiu.000 bbls. yearly capacity); .lie iu.:nur;<ciure of dry coior*. meccttelda*. .ur.i'.c:ues end seed germ dlainfecLanta at JdU* 11u Mc'ore.sionn. M. J.; sand mines at v . >:.u ckv, Mo.; lunesionc quarries at rul- Officers C. M. Brown, c Finance Corr H. B. 4'. . R. B. Tutiu-r. isc. E. T. Asplur.ar. \ Cement Div.s D. C. Burrhnm, Y . Div.) LaJ sod Hazard. Vic J. II. Hcroy, V:c. F. W. JuUsuil, E. D. Grsirir.. V:.v- J. A. Wilson. Vie-- Manufacture) W. V. tmmnum ", r * H. B. Brow:;. 6t-;r- C. R. Fay. Corr.pirj. M. E. Carlisle, Fur R. O. Bole. Chir.f T.r Guy Bcrghort. Ad-. < J, H. Heiush.iw i:\. W. R. Hurpcr. Sal-^3 W. I. Gailiher. Han - E. D. Peck, su'.es : Directors Clarence M. Howard B. r>ro'.% r. E. T. Asplunur. E. D- Grufin, Pif - o.*; coal iv.mes near New Philadel- Lcland Hazard. :-v ^".RTlEfc u.ii closed . :>t riel*:,d :..:.r:ciUon , i , i o. and nas properties and pas lines at l- ; Lily. c-a. in addition. 223 sale** oltice*. . v; t' l.l >LlS*. S .: ml Mores ore operated fur the ..u.uuuf. of tikis*, puitxt. etc. Research Uib. arc Juvatcd as follows: Glass at c_ t .4i\'on. points at Milwaukee. Newark and viumie.'is oL Barberton. AitsDurgh Corning Corp., a 50% owned com- priiit-r;.>t .AhialAs .i*iug,lal-s'as.. block and a producing ioaniglass oiani at and tflass .'<U'r* d1.mi iit Sodalia. Mo. U. H. Hcroy. N'c^ K. B. Higgu'.i>. > iilciiMrb iv. Ale.u.) Harold F. P.tcair-. . : Rovmonii pMO'r: R. B. Tucker. Vimm General ceunei; Lo, Annual Meeting: No. of Stockholders No* of Employees: A General Office: Gra- CONSOLIDATED INCOME ACCOUNT. YEARS ENDED DEC 31 rom reports to Securities and Exchange Commissioni so ;y , ;:,i 1947 S2f;.:.2'.489 MG.4J2.779 21.0:i;,267 IU46 S1S4.6C0.940 101.310.216 25.fiU3,53G 1943 S144.1Q9.141 82.261,131 2Q.478.96S 1944 SU2.i4b.t6J 7d.b2C.439 21.927.221 92.0TC.44a 37.S33.1S7 41471.026 63.911 42.0U3.2U-J 2b4.S~< J2.oru.44J 33/JS7.37S o6.0k3.0e5 1.794.410 261,033 4.ri2.o2l 57.SJ3.1S7 26.233.242 31.690.945 1.501.791 137.092 2.-KC.516 41.434437 23.079.U6 ] S.356.221 1.719.127 142.311 381.667 42,347,725 I8.S62.173 23.785.xr-'i 1.6J4.7UL 1C1.U-SU 431.401 : >0 . : ! .10 ^ ' . f' 1 `K -V. r>S.:,.J4'.02R >.3-i6.-aus Ml.247.a20 23.SU7.217 1.102.783 .1.4 a u.b< .1 J7.77I.I4f. 45,211.741 ;5.'89.337 ST| r>.' 1" :i2S 35.706.344 4.645.245 31.061.099 13.377.IS7 622.813 20,598.927 132.W1 20.406J125 7.186.643 347.166 513.357 crl.180.COO I7.0C1.099 36.S5J.70J 10.670.067 Sl3.241.741 13.539.1GQ 65.90S.940 9.402,551 dr 33,195,$ tO 236.850,709 26.Ul3.6b', 101.499 2a.9J2.lS8 7.124.OU0 519.551 5.353.r:;' ........ cr5^3.i-- A 7 13.450.t-.:" 61.85I.fH5 9.39J.2M2 5R5.908.J40 ^, T.r , i7 ,.i i > : , . f : ;,-.n 35.934 S5.9r7.657 ia.h:;..2u6 J.54-.9T-J ;.0S3.373 jr.`.M46 17 Li.32G Not staled S5.694.S13 U.9JU.833 2 67U.199 1.211.648 22G.r~9 2SU49 SI75.;-f/0,203 lii.435.9fi6 S3.52S.I35 7.811.832 2.355.505 2.932.S10 176,131 477,054 J136.551.1S0 12.651.950 J5.4C0.3I4 7.905.452 2.S7i;.it., 2.92.1.473 91N 1 IS.580 S138.5U8.G9R 13.104.33U SrJ > ' .: u jaau.:;2 UJ3.JS3 2.5Tf;.;ii3 1.901.159 2 005,463 412.176 1.654.003 763.560 1.568.317 743.09S 11.J309D7A.SAGSK 1.2S1.737 587.4SS v Appropriation required to change from is Afiproprial ion <( :n rvst-rve b:iMS of providing lor unin- charges ior cl-'prec'.n: u -l rji*- s:nns and relief. rather Ilian Oil Ol'IO1 . .. , . 'yr,. |- r,; r '-v.'vi' for oNtvnordiw\ty fii'1944: Includes VrMJ .]< 'T k i'c . 1 n-presv nunur a Jiustiru rtt 0: net tinsr'nc!es. >. \ ,.)\k- n iw.jnc-Ttv reguliind from an m: . 01 [11 o|HTtl-'S m prior vra rs.` . t' rO . ;. 1 1 an dor tn stair-.1 r.anifnl 1, " 'r-ri \v 1M- i?r^1 hr.nce of ! our . . . .i n)' >..rf,.L-r 'J5 oar sh ire. pur 1 !u'1 or.-.ii .ti ll ; t.lNC.-- J 'C ^ * . . ' .iu7 7.:: if li! bi.JVl.Ol' ijj':.. s.sii*!- . .id*.j pjr... 3; S'.)72. <L- 5>Rclimds for prior ; and rxccss profits t;.\ celorated amortization General Mots: C<\. lauint! up ir. lit- n cenocl m tip-m.'i:- l,'stri.u:TCf1 not 1 iv.: i odian sul^idionv r> * i:i ''* 1 rip ;. 1943. si.<111.; 1I:'') -: provisional ch.Trgcs for repair- ):*:2. :;:;aJAU.{ ivhu r. ; 1 ; r J' I- . s:.rr.i.r,24: 194:1. sm.47?: in ahnve me .It -'`I ... ! ' 'A.' P: !.j. bl- Ui77; ;?;c. s 8C.305: 1947. oi co:r.p.o:v. 5 Bo!u:.n' i. . - b iiriv> :m r n-.* ror. !' ' ' n` r;z 5 l.S2 t' cr ! ::.A JJ ^^4 7 A.2 7: 'illO 0?h Inc fc Do'!. .W : $321,279 1.925 595 2.438.J07 3,128.680 40^.043 :.3is2.rja l.?*:* 939 Inc. Rid. Taxes Jl3.7i>6l 18.779.f.'i? 22.5|`<3,942 f A3j]fA0 13.285.735 ] !).(:.3;i 111 2U.17J 'V* Inromo Toxef $2.31 .s '.22 3,448.734 1 *>9' n?3 lil.LGPS 2.519.325 5 S!?.>174 Net Ineorne Jll.398.739 15.321.H5-i 1A.287.969 C.4S8.9C7 10.7f6.412 13.793.937 14 9SU.17b Comm.-Mi Div^dvroJs $r/.2b 0:0 : 1,7f.2 13 415 J 770.272 lu yCA.ir; in 001.17 5 MOODY'S MANUAL OF INVESTMENTS 2583 ZAtwr-r c tfrxr:> COMPARATIVE CONSOLIDATED BALANCE SHEET* AS OF DEC. 31 ASSETS Ccah................................................- - \i.U rmcrt see.iri.tic*.......... -- ^ i. the; neiuc ** *-icvtI V.tti. .... - .. * N1.:c:- .li .'iC'.- i ` O < acurped. tc. llr; jn-'t f r* u^r.il :nL, taxes .. i9-;i> 3i2.UCl.fi! j l l.ios) :ii:i iy47 SJO.OJ4.780 S. 153.404 3.j8S.42S 18.673.299 32.49C.44"b 1946 $10,542,262 7.344.630 5.006.261 15.450.973 37.321.S7S 1945 $12,295,862 23,176,265 5.420.724 9.403.707 1,180.000 23.538.722 1044 $13,516,666 23.56l.SW] 5.ISO.499 10.465.394 27,191.672 1943 $18,212,532 13.132.670 5.706,773 9, yn, 2*5 24.66,53<r IMS $33471.430 8,962420 5.119.649 8405.M2 25,650,115 Total cerrsni j.sU........................ c,. .. ,i ` /!!>-> .. Ir.\. i u.it copmJI. .. Miycrilp.i. ius iiive-rtrn^nis.................. - 'u. i <: t rv.in-s A mvc-junta iUfct). - ,f '*iu>u............. '/L":. ri- \ uni'.'N re?--. Lu-v; Excacru "<.* ........... 1'ZtXi.nxo - ------- - -- ----------- i/Ol.'-rr.''*, nk.;re-Jfc .................. ......... v.'j:; acm-.-TiIs able. trad*.......................... p*....................... 0:i.-r ;ir:J acfj.icij........................ 'Jti'.vnt ..... - !. ' . : r` : ' rv. v: vilcs . .- - fiV-iv'V.f '.' ' ................ 1... ; i.t * : i-................................ - if ?' rriivf rv* .. .... - tii* f .' r-.rfv;t> clc... . Ki > , . !-V . ----- - - * Tter-.*>' .................. C--t : -1 < i-1.' l-W -------------- l.. ; Tate l.............. ...------------------- Wet current assort-............................. PTV-.I-EU1Y .TIT -AN.ft'.YSIS i' * . "usl................ . i\. .. -:li or inle*....................... IXZl'K ' jtV/'il] A* *. M-.'HT RES." .w.-a: :i:i rf - kc . ::r. -:r V : . .* .rVet:: t: k* t enlaer si ;`.sj^.:sr s-.r ...ui : :-.,A 17.51U .{,y->4.2.a !l:'i4.70s n.fil 1.053 $: u'.uo.sfin :.iu iwj i,ics TTZTTTn rr," ; -P-. ^..*1 L.;0i! ih S2-) . '! 1 :; ::v.'Jh i ' 'V ) i7.}: c.., ......... . o.i! .i: . ,.j r <ir T ;'-.i0 i.-i 2.720.905 164.t72.H2r> S2.075.000 1.350.155 80.440.7S1 l 3.2S1.G75 n06.670.828 S10.2.S5.542 246.483 27.201,335 C.5G5.GSG $44."450.04ti 10J.224 2.322.4GS 3.420.64*; 2.!4:.826 69.390.220 55.y23.52o S57.27S.3U 2.057.958 712.417 JM.T56.302 S.21C.000 1.337,377 7.73C.S96 l.S34.043 150.353.S66 77.5S4.049 1.256,155 71.413.662 2.6S8.9S4 S174.003.267 S7.024.760 376.987 17.768.595 4.530.336 $29,701,183 109.503 5.6S1.365 2.319.965 1.651.702 SS.996,220 2.301.305 43.24J .741 $174,003,267 SS4.035.119 $19,723.03$ 2.433.974 .400.707 S79.915.281 5.333,000 920.074 7,927,087 1.423.060 132.164.190 73,809.995 1.353.949 57.000.iS6 1 1,906,716 $15<,<25.374 15,157,677 417.506 9.853.339 2.689,246 $18,116,767 43.949 28.947 5.681.365 2.353.291 14164,984 88,522,240 963.121 36.850.709 S154.425.374 $61,798,513 S4J41.S12 797,080 51.291 79.92G.110 7,293,034 J 7.109J30 1,162,004 128,568.376 68.905.003 1.353.04* 58.S06.S24 1.645.7il7 $155.465250 $4,843,307 17.951 15.600.596 2.768.277 123,230,132 80.418 155.077 3.631.355 2.568,458 . 1,987.927 55,282,650 770.383 65.008.940 $155,463,350 S58.695.97H S3.6S5.751 1,089,893 21.950 71.820.798 6.937,8! 0 1 4.3M.J5; 1.064,675 12S,970.5(*`>: 64.02n.27.'> 1,353,9:0 60^90.444 1.701.972 $146,200,162 $-1,572,902 18.315 13.227.767 1.408.40J $19,227,384 79.207 172.878 4.931.365 2.462,118 ... _ . 1,738.130 2.407 55.218.075 825.000 6J..S51.595 $146,208,162 $52,602,413 $2,375,469 1,201 407 48.922 $.*>.977,657 J24.5S3 ' .210.300 $5,694,313 315.065 2,233,619 S5.439.208 133,102 667.919 15.480,344 6.838 987,753 $5,862,527 54.13$ 833,204 er 1.30J $$$.021,965 7,331.210 I 4.007,430 8(3,428 U4J37.87S 88,444.118 14U.M9 64,039.910 UU3U $136,546,025 S2.7J0J18 18415 10(02.768 2474440 14(23.(40 Bti.Hati 167447 4(11J65 1(48.805 1482.174 9434 55(10,073 525.000 57.206.899 $156446.02$ 44,70042$ $4,726,459 1(87,1X4 4441 5(10.33* 4.(41 $21,152 dr 34,135 U- - > ! m:i |> ii-, ;.T,vkr*t value. Market va'ue Reserves .*; J :han cost or market. 1947: Finished, elny and coni deposits, etc., for ID-M was equiv s*!:'.iij.-;- .torn in process. $3,72u.7i.\S; alent to cost of such resources recovered dur .iis. $l.V*>*>i.! *7; Swp.dU-s < including I ing year (that coat being computed on basis of .......... . *'.2.h7j.!MM; total. Sfi3.j79.777. ; ratio of resources recovered to total recov t)*prciitian Pelley: Provision /or depre-1 of depreciable assets was made at .semue annual rates, which are based on the] <. ,u;natl useful lives of the respective Items. I erable resources estimated by company a engineers). Osatral Notes i Avcounts certified by Uasklna A bells, ilii Aoove consolidated rtaienients Include computed composite annual depreciation all rfoinrstic subsidiaries whose business pol , :i*- for !!i-v based on provisions for year icies and operations ore directed by the parent ;.nd oainnccs in adjusted property accounts through ii organization, except Southern Ai- at beginning of year, plus oncshall of net kaii Coro, and Southern Minerals Corp. Co:n- additions ior y,*r. rollow: Used In business: j pany s Belgian subsidiary is not i^.cuidod in ;.u: * n:. tv.n,"*; ; buildings and accordance with practice established In 1910. i.imJ !:uy ijv:>; :n r.t. :Nochlnery and; , dm. i 'i:.i. : i: ;; intu r real \stntc. land und l w i ix '-ir i-iMiJoycor. tincl'.idinp facilities mu r' t'iM;. Rcsidenii.il btii'dlngs. 3.rVc; Company`f- other foreign subMidinrlcs <! in lD4s and l1 in prior year*) arc not included on basis of eonvii.erc*! ju>t Net excess of equity i.f company cr.u con n-js h li| ior future di^nrsitjon. 2.06'.^: solidated subsidiaries in net assets of domestic .'o equipment call fully deprcci- and Cann.'idian subsidiaries not consolidated none over carrying value of investments therein cjsio.: for depletion of salt, limestone. amounted lo $14,710,413 at Dec. 31. iU-lS. FUVAriC.Mt A CPERATiNQ DATA c Kvcofu 1.47 S3.11 S! 70 4-1V22* ; .s c*:c. C2? 1946 SI.92 $1.20 <3*4-30 $15 12 8.899,522 aims ffi$4.25 I44'.i-39^ $14.27 8.552.224 1944 $6.05 $4.25 225*4-95 $55.15 2,211,300 1943 $6.00 tl.fd 9S-S4*.$5.7.21 2,208.723 1042 8.09 M u'W.h IJ05.723 J ;; f.:37 : ? s5 2.20 3: 07 n-'.oj J3.56 2.82 3G.93 44.56 40. :i 4.41 52.52 3S.7J 48.92 3.44 &2.M 34.02 46.49 3.74 51.AE 34.t*2 44.73 4.12 41.32 43.46 $9.54 ! - m J>r-. <5 )3<f. esi-c*.'.; for " :v: ^ ?|0 ^ 10" 1 'i '.* i?.'j t'-'i or* 0 tin :j.o 11 :< 41 j S ; -Jl <*;. i.ifki 1 :*/ *%'i C- 7 ", >< V .'7 .! ' w! ' 1 1 1* 7 .,, ; 2* "fi .y*,' 0 . i 103.1*0 4 95 n.95 25S.59 10G.J3 9.80 12.00 100 on *.f U8 3; n :? i! l.vr1^7 -.2 100.00 5.05 JO-32 253-82 0.23 8.77 10.72 ", 100.00 71.29 2ft. 71 o.ot 28.75 lC.Ci 12.71 1.5fi 1-1.20 0.13 14.10 4.7C 200.00 5.25 13.65 244.0-5 91.18 8 65 11.03 % 100 VO 70.52 29.?: 0 17 29.fi S 1 16.G5 J .50 16 3i r.>? 1H U 8.:: lOti.OO 4.E0 U.U3 iw.o: 5l.fi;; B.lc ll-.S'* % ICO.l-O 08.31 3! 0 ;s 9) 57 1.5.7" 17).1>-|-k 19.0:t \9.r- n.Li 9.40 a :: 11 :i were Uiucd in exchange for each $25 par aharc. Stfftisfieal record for 1945 a pp!!es to 100.00 4.16 12.73 1M.U 7124 tJ2 9.04 $7.09 16.17 26.74 1.23 17.97 0.43 17.;>4 7.03 10.51 ?.]7. v :ur ii. prcciii': r. u* \ :c;j I,m> ir.cni cos! r;>llur ihan an O-'i Vfi !<:: i lost bSii:.. Hi J.5S i MOODY'S MANUAL OF INVESTMENTS OAPITAL STOCK 1934... 1.30 1936-.- 2.90 1936... 6.00 Bank ft Trust Go, FituburgU; City bunk 1. Pittsburgh Plate Class Co. stock; par $10: AUTHORIZED-- i2.30o.Uuo shares (increased from L'.Gvin.ia'O shares Dec. Jo, 1945); outstand- iDec. ^. 1 i'-i-. shares; par $10 cnanKta iiu.i; $1.0 par Oct. y. 192$. four $25 I ur -m..rea ;>u*.d m exchange for each $100 par -hare: changed from $25 par Dec. 15, 1945. four $!J Jion-s issued for each $25 share). ,.;r. i i.* 19 i'i(cairn Co. owned 2,871,352 , 21 llT 19J7... 6.50 1938... 1.75 1939... 19 lw-4: 5.00 1342... 3.34 1343... 1944 45 4 25 ($10 par shares) iyjG... 1.20 1047-.- 1.70 1948... '1949. 0.25 ilPJus 10% in stock Apr., 1917. 2jPJus 20% in stock Dec.. 1920. Li Pi us 30% in stock Jan., 1923. LLPJus 10% in stock Dae. 1,192$. iTo Apr. 2. 4.0(1 Farmori Trust Co.. New Yum. 4.90 REGISTRARS--Mellon NulfOnal Bali/. u Trust Co., Pittsburgh; Guaranty Tru*: Co.. New York. 1.75 DIVIDEND PAYING AGENT--Peoples First National Dank ft Trust Co., l-dtCMiurgn. ISSUED--Upon reincoryo*alum in ij4u, 397.342 shares of new $100 par stuck weiu i^ucd as follows: 247.500 snares to nuiaers oi old $100 par com/non on a share for sunre ^aus: 1.540 shares to holders ol old 12% preferred 1i * "i :7 : IL'Jl). , j j:: .Mi ($10*i par shares) Nil |N`J`J .. 191*0 -Of v >o r.'i.s... io.uo 1919... l:: c. S.110 1922 .. IS.ijU T.J27 . .. 13.00 1928... i 25 par shares) Dividends payable quarterly Apr. 1, etc., to on the basts of two nharos fur c..cd share held: 6.00 7.23 > stock of record about Mar. 10, etc. PREEMPTIVE RIGHTS--Aa provided by the n.ou statutes of the Commonwealth of Pennsyl 6.00 vania. LISTED--On New York and Pittsburgh Stock 47,723 shores to stockUuldun; ol Columbia Chemical Co. on the basis of S,)u of a snare ior each share held; 10,574 ikurea to j:ui;oriy stockholders 140%) of FatUm-Fxuaun Cu. on a share for shore basis. `j ii.r.i'i __ :;.oo i9:so... 2.00 Exchanges. PRICE RANGE-- 194a 1547 TJ4C 1 .. 1.73 i3J2... 0.75 1933... 0.70 ' TRANSFER AGENTS--Peoples First National Stock.................. US)`,^-30 12V-..2-4 -tb'^-UO SOUTHERN ALKALI CORPORATION I Controlled jointly by Pituburgft Plato Clou Co. (Sl%) and Amorican Cyanamid Co. <%)] History: Incorporated in Delaware Apr. 20, J 93 I. Business: Manufactures heavy chemicals. Property: Plants located in Corpus Christ!, Tw and Lake Charles, La. Salt brine for manufacture at Corpus Christie plant is piped iron, tumpniiy's own welis and natural gas for power is provided from company's near Times ehgs. earn.: 1948 1947 Before me. tax. .....-- 33.87 After inc. tax.. .............. 23.30 Earned per share $107.07 $64.51 Number of shares 100.000 1UO.OOO d.Southern Alkali Corp. and subsidiary con solidated and Southern Minerals Corp. (affili ated compuny;. Taken from reports to SEC. Liabilities leont'dj GLSo. Aik. Corp. com. stk._______ li'So. Min. Corp. com. stk. <$iUU; Paid-in surp.--So. Aik. Corp. Earned surplus .. 2,123,000 .10 000.000 373.UOO 2i.2iij.-iu6 1917 2.123.000 5,000,000 273,000 17.i.>2,u2$ ly t:c Id. Control: ;ir.rj stock jointly owned *51% iveiy hv Pittsburgh Plate i-tiin. st.it. mi nt - ;>ncl Anicr- gen-. ril indexi. Su..-oid;nrv: .S< !1 *iK' Line C'irp. iS9.- ij.Dry holes and abandonments. [^Southern Minerals Corp. Amount shown as charge against surplus excludes $592,106 pain to Southern Alkali Corp. eliminaled against income of that company. Southern Minerals Corp.. $2,210,526 And Southern Pipe Line Corp., $23,072. Amount c..h...a..r.g. ed .a.og_a_i_n_s_t__s_u_r_p_l_u_s___(_$_2_,_2_3_3_,3__9_8) e__x_c_l_u_d_e__s Total ............... $52,XII..*uO ;2,ii.r., ll.Net cure, assets yu.FJu.oi'J o . ,i mj.-.-iu LiiSouthcrn Alkali Curp. and subsidiary con solidated and Southern Minerals Curp. *.al- iiliuicd company). T.;ken irom reports to SEC. ^Finished chemicals, refined preducts, and Aio cr.\: a 2*1-72 ' inierest In Southern $7s`U7Tiur Southern Minerals and $192,000 ior materials and supplies, at lower oi average i1- < '.' :*t -v** uu :u<i hv Pittsburgh Southern Pipe Line paid to Southern Alkali cost or market; crude oil, at approximate - i'*... ummated against income of that company. market--held posted market prices plus trans Officers: F. F. l'itcairn. Pres.: C. M. Brown, v * i: F M K;:ic*i. Jr E T Asolundh. ' -* : Vir.'-lkw J. H Heruy, Sec.: V S:: M IV Brown. M. A. * :r: r. !. L':>. Asst. See.: J. G. Flcin- 1 ?. F'n>. Comptr. DirectCi'S: C. M. 13; own. Raymond Pitcairn, v K \V tfinklir. W. B. Bell. E. T. : T* EasLun.n. V. M. Fargo. Jr.. . r;. - 1 H Hi-r.A K C. Towc. Annual Meeting: Third Wednesday in April. Office: Co: tins Christ!. Tex. -s 100% stock dividend (50,000 shares) paid by Southern Minerals Corp. (sec "Note to b.ilance sheet). ^Combined Balance Sheet* m el Dee. 31: Assets: 164$ 1947 Cash..................-- $8,971,876 $6,703,238 Working funds .. 2.713 4,11$ U. S. Govt, sccur. 5,107.100 Oth. securities ... 195.Oh Receivables, net . 5,006.286 4,875,066 Exc. prof, tax ref. 83,233 /Finished cheni.. ~439jui 208,784 Lt, Crude oil........... 1,163.571 1.503,800 portation charges. {*]1UO,UUO no par shares. Represents proceeds of sale i$2,50u,00U) a Ucr deaucun^ $375,000 credited to paid-in surplus. illlncludes 26.3J3 3U/3S shar.s held by South ern Alkali Corp. iljln 1947, exclusive of bonds and notes pay able to stockholders. Note: During 1946. Southern Minerals Corp. paid a 100% stock dividend nmounbng (o $5.000,090 which was not taken up as. income in books of Southern Alkali Corp. or Pittsburgh Plate* Giuss Co. This.dividend reduced earned Combined Income Account, years ended j.Rctincd prod. .. '2,283 9.332 surplus and increased combiiii.-d capital silock Dec. 31: 1: I `147 X'Matcr. & suppL- 2..114,399 1.403.602 by $5,000,000. As investment of Soi;ti.- i u AF.aii i.n-r; ! is S-U.32.VI07 Raw mul. adv. .. 2.800 2,800 in SoutJiern Minerals is not Eliminated in 97.721 consolidated balance sheet, no uii.iu.Um-.nt of i ; . -tv . ; :ivi . : ' ' - . i - \[' o .'.oj.i ;.)> ; i ',-*q li1;::. ;u. 4!.-'22.H2.S Total current 2F7?2.447 Investments.......... 9>9.:uo Plant ft equip. .. $23,893,140 103.251 45.H6b.049 $14,973,070 combined earned suiplu.^ was j.iauc. li ad 103,251 justment were made, combined earned surplus 42.674.191 would be increased $l,aij.7c9. (. in Depreciation ___ 12.75li.649 11,001.407 Accounts ccrtilicd by Hi*ktn$ it: Sells. .... :)........< f. .. . . . 1 n:i 2 i*9 I 542,151 Depletion........ .. ].63r.2S9 Net property .. Deferred charges. 5.862.407 27.24.S.993 1.669.J7G 5.661.947 Bank Loan: Outstanding, Dec. M, l'J-F. 83,- 26.210.837 000.000 parade ciuart.:rl> t.i Dee. 31. 1951 with 1.329,214 interest from l.i j ^ to 2 |H*!- annum. Un i - *. !."2 604.1)21 der terms ol Junn agnement. dividends can r !4 *!J-,!i.vrn. r;. T.- .1 ::i m. . ,* i - . * : v , *: *-.1.' j 'i::i;,ii ::ii;::j :,u i 'is ir .::n*;.:,tin Min l **:: Mi in : 'i'.i t'0.2!i.S Total .............. n :*;o.:i4n Liabilities: 04,002 Notes parable__ 9 N2I..V.0 Accounts payable n;.s.inii Due parent........ .. i:: 1.2710 Due nlliliatcs__ _ (cU. income lax.. $32,936,560 $5,000,000 2.803.970 113.803 3.256 5,(iOO,9G2 $12,616,371 $3,130,590 65.823 3.781.379 not be paid (except m ^lock; until notes arc paid. Capital Stock: Southern Alkali Corp. stock; no par: AUTHORIZED -- And outstanding. 100,000 shares; nu par. OWNERSHIP--SI % of stock ow ned by Pitts " '* ' i. 2.i*aLs:?m Other accruals ... 1.236.528 234.662 burgh Pluto Gloss Co. onu 49*;o by American > . : * ft mcomr p- 7 i'1 .1* 2J.IP7 i :,a 6 Total curr. . First (5s. 1948........ $12,758,524 Cyanamid Co. $7.5:12.454 DIVIDEND RESTRICTIONS--Sire ban!: l.un 2.500.000 above. 12 J.MP.lbT Notes payable ... 4i.O0tl.000 7.000,000 DIVIDENDS PAID-- - ' .. 1 . uv - imm.uoi) Lxtraord. mnint. j i.i;.*,7>9:. res.......................... Deferred credit . 183.212 108.000 1936... $12.50 149.889 1939- 1. jtl 162,000 1942... 3.7 u 19J7... $4U.: 3 otl 194,1... 2.59 13.(8... I'Jll... 1J44-45 ml fi.j'.y o 5U y .. . ' -iuO ::.7.(2.n2s Minority interest. 131,417 ...____ 1940-46 nil SAFEWAY STORES, INC. !TALSTRUCTURE hr n DEHT 1. k'*,. b:mk loan.................. CAPil At. STOCK l^ue I 5" < *j:r-.i!niv** preferred 2. Con n,, n i Prsvaic-ly placed Tlmea Amount Charges Earned Interest CaU Price Range Rating Outstanding 1948 1947 Dates Price $20,000,000 15.09 15.U9 Q]........... 02--- Pair Amount Earned per Sh. Dlvs. per Sh. C <": < ' Trice Kiin^v Value Outstanding 1948 1947 1948 1947 Price 1946 : $100 5 191 417 h.v 2.570 r.4.> shs. $52.07 $41.40 3.50 2.77 $5.00 $5.00 1.00 1.00 110 173 -lP73:i :ir, wv* TRange since 3-for-l split in 1945. Range since 1932 and to the 3-for-2 split in 1945, 68^-12. -is HISTORY bUB-.slOlAR: to J F.liMirn Packing Co. (171.1--Inactive Beverage Distributor?. Inc. tCal.l-Whole- viar.i Mar *>4 1326 to ; El 1>:ts0 Packing Co. (Tex.)--Inactive i-f a/tfoway Stores! Inc.. ` Acme Packing 6c provision Co., inc. (Wash.)-- iti'oi I' jniOrl in 1314. Char-1 Inactive sale beverage business. Glvnlield Food C.). (Cnl.) --Inactive Sutter Packing Co. (Cal l -Canning : .-.l K-f|Ul>.:llnn gave the* Canada Safeway. Ltd. (Can.) (formerly Safe- Far Soap Co. iNev.) * `tires in southern t u.i> stores. Lid.)--See appcnrletl statement. BUSINESS A PRODUCTS -r acquisitioin have l.v -co Mou.l> *s I94< .,r,d oporurlng com- i May 0. 1941 of - iriv-f:-.i r.r*i ^ub^tdiary, e r^;:'.:nny. v'l *, \ <i:.nq yowi-r .J.arle*. ar.cI i>uslne*s : Dwight Edwards, Ltd. (Can.) -- Coflee blenders Empress Mfg. Co.. Ltd. (Can.)--Jama and icilies Fraser Valley Growers, Ltd. (Can.)--Fruit grower* Maeuonalds Con?olidated. Ltd. (Can.)-- WhoJoi.k- groceru-s C iriii/r Co.. Lid. (Cun.)--Fruit and vegetable i ani'inc Sterling Meat Corp. (Cal.)--Slaughtering Comvur.y unci .^uhf-i.ii.ii'ie^ cori.-tiUrtv a principal operator of r.^:il . JFod ct^rcs, harnlluiK groceries, .sundrii.-.,, tvu'.tu. meats. (l>h. beverages. S'i.;<-ry ami prod ucts. etc. Sales include ri;iion.-i'',v Uiiow:: .-r.o diFtrtbuted nicrcJ.c.nti!S. ;'.;o *.-?! ;.nir. ^ruducli- such ii? bniad, colfee an-,! mid, -.>M '.r.oie mm.'ts nr,.' hram* i.v <.!. r..!:.ir:cs In connection therewith, there nru i oo.ij--.iecl warehouses, meat rii.%ir>boing j*>bu*;a. *mit : and vesetabie Ouyjug oiw; C.i .(Nhj'.-.g '.v.., > i formerly Druni- Wruht & p.it?trMin. Inc. (Tl*n.)--Inactive | i/.ation, b:iker?es, crv.i'eries. a c^r.i^*' *ui j -T-: *i:tiv , _. , orr.'.crly Scmu <,0-' M'ind Equipment Lessors. Inc. (Md.)--See factory, * jnm ur.: moird^avTu-ing 3t,.:c"cr.i | plant, a fruit and vegetable cMmiing pmat. C'-u pror.-a*ing Wrul^art,ho;,se Co- ,N- J-*-p"Wie wire-1 crater rbaKcry. S. >Li: n 'usun, tributing fiaius, saiyd J:feeing manufacturing n Tucking ft Provision Co. Siih-iu Coinri.oditie*, Inc. (Md.)--Seo appended plants, and. in Canada, a general xvnulc.-.nie s:ap,;hter;ng : sluternent I grocery business ccr^istlng oi the operation