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| − | Report | + | Report[bold] on[bold] Eastern[bold] Manufacturing[bold] Company[bold] and Subsidiaries[bold] |
| − | + | Consolidated Statement of Condition | |
| + | |||
| + | As at December 31, 1929 | ||
| + | |||
| + | ASSETS[bold] | ||
| + | |||
| + | CURRENT ASSETS: | ||
| + | Cash in Banks and On Hand.......................................................... $214,394.68 | ||
| + | Notes Receivable (Less Reserves)............................................... 39,628.63 | ||
| + | Accounts Receivable— Trade (Less Reserves).........................540,502.69 | ||
| + | Due from Madawaska Company— Sale of Stumpage..............203,000.00 | ||
| + | Inventories: | ||
| + | Pulpwood in Pile at Mills.............................................................................................$ 730,910.19 | ||
| + | Raw Materials and Supplies....................................................................................... | ||
| + | 608,114.42 | ||
| + | Work in Process at Mills............................................................................................. | ||
| + | 102,751.36 | ||
| + | Finished Paper ............................................................................................................... | ||
| + | 603,362.53 2,045,138.50 | ||
| − | + | Pulpwood Operations .......................................................................................................788,960.31 | |
| + | Marketable Securities, at Cost, and Accrued Interest...........................................68,355.83 | ||
| − | + | TOTAL CURRENT ASSETS .............................................................................. | |
| + | $ 3,899,980.64 | ||
| − | + | MISCELLANEOUS INVESTMENTS AND ACCRUED INTEREST (Less Reserves 71,029.66 | |
| − | + | PLANT ASSETS (Less Reserves) ...................................................................................4,557,582.57 | |
| − | + | TIMBERLANDS (Less Depletion Reserve )..................................................................2,278,160.49 | |
| − | + | PREPAID STUMPAGE— Passamaquoddy Company....................................................265,794.26 | |
| − | + | ||
| − | + | TREASURY STOCK .............................................................................................................52,312.56 | |
| − | + | ||
| − | + | OTHER ASSETS ....................................................................................................................109,214.12 | |
| − | + | ||
| − | + | DEPOSITS FOR PURCHASE OF FRACTIONAL COMMON STOCK .....................6,048.00 | |
| − | + | ||
| − | + | DEFERRED CHARGES TO OPERATIONS..................................................................58,137.79 | |
| − | + | ||
| − | + | UNAMORTIZED DISCOUNT— FIRST MORTGAGE BONDS...................................123,524.97 | |
| − | + | ||
| − | + | ||
| − | + | TOTAL ASSETS | |
| − | + | .....................................................................................................$11,421,785.06 | |
| − | + | ||
| + | LIABILITIES[bold] AND[bold] CAPITAL[bold] | ||
| + | |||
| + | CURRENT LIABILITIES: | ||
| + | Loans Payable— Banks .....................................................................................................$ 950,000.00 | ||
| − | + | Trade Acceptances Payable......................................................................................................................171,520.00 | |
| − | + | Accounts Payable— Trade ........................................................................................................................326,969.04 | |
| − | |||
| − | |||
| − | |||
| − | + | Due to Officers and Employees.......................................................................................66,392.21 | |
| − | + | Accrued Expenses ..............................................................................................................61,768.59 | |
| − | |||
| − | + | Dominion Government of Canada— Income Tax 1929..............................................1,965.63 | |
| − | |||
| − | + | Reserve for Federal Taxes........................................................................................................................450,000.00 | |
| − | + | Dividend Payable January 1, 1930 on Preferred Stock .........................................30,737.00 | |
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| − | + | TOTAL CURRENT LIABILITIES....................................................................$2,059,352.47 | |
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| − | + | MORTGAGE NOTES PAYABLE .......................................................................................58,902.00 | |
| − | + | FIRST MORTGAGE SINKING FUND 7% GOLD BONDS................................... $2,700,000.00 | |
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| − | + | LESS: Sinking Fund— Cancelled Bonds.......................................................................... | |
| + | 439,600.00 2,260,400.00 | ||
| − | + | CAPITAL STOCK: | |
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Common .................................................................................................................................. $3,148,104.96 | Common .................................................................................................................................. $3,148,104.96 | ||
| + | |||
Preferred— $3.50 Cumulative ......................................................................................... 1,755.650.00 | Preferred— $3.50 Cumulative ......................................................................................... 1,755.650.00 | ||
| − | Preferred 6% Non-Cumulative ( | + | |
| + | Preferred 6% Non-Cumulative (Liberty Paper Company)................................ | ||
9,500.00 | 9,500.00 | ||
| − | |||
| − | 4,913,254.96 | + | TOTAL CAPITAL STOCK..............................................................4,913,254.96 |
| − | SURPLUS ............................................. | + | SURPLUS ............................................. 2,129,875.63 |
| − | + | TOTAL LIABILITIES AND CAPITAL......................................................................11,421,785.06 | |
| − | + | CONTINGENCIES— DECEMBER 31, 1929 | |
| + | (A ) Liberty Paper Company Dividends Guaranteed— $570.00 per Annum— Paid to July 1, 1929. | ||
| + | (B ) Passamaquoddy Pulpwood Stumpage Permit calls for the purchase of specified stumpage at a | ||
| + | fixed price annually to 1935. | ||
| − | + | CERTIFICATE: | |
| + | We have examined the books of account and records of the Eastern Manufacturing Company and its subsidiaries, and prepared therefrom the foregoing statement, which, in our opinion, correctly reflects the condition o f the Company as at December 31, 1929. | ||
| + | |||
| + | MILLER, FRANKLIN AND COMPANY, INC. | ||
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February 12, 1930. | February 12, 1930. | ||
� | � | ||
Revision as of 04:16, 19 March 2017
Report[bold] on[bold] Eastern[bold] Manufacturing[bold] Company[bold] and Subsidiaries[bold]
Consolidated Statement of Condition
As at December 31, 1929
ASSETS[bold]
CURRENT ASSETS: Cash in Banks and On Hand.......................................................... $214,394.68 Notes Receivable (Less Reserves)............................................... 39,628.63 Accounts Receivable— Trade (Less Reserves).........................540,502.69 Due from Madawaska Company— Sale of Stumpage..............203,000.00 Inventories: Pulpwood in Pile at Mills.............................................................................................$ 730,910.19 Raw Materials and Supplies....................................................................................... 608,114.42 Work in Process at Mills............................................................................................. 102,751.36 Finished Paper ............................................................................................................... 603,362.53 2,045,138.50
Pulpwood Operations .......................................................................................................788,960.31 Marketable Securities, at Cost, and Accrued Interest...........................................68,355.83
TOTAL CURRENT ASSETS .............................................................................. $ 3,899,980.64
MISCELLANEOUS INVESTMENTS AND ACCRUED INTEREST (Less Reserves 71,029.66
PLANT ASSETS (Less Reserves) ...................................................................................4,557,582.57
TIMBERLANDS (Less Depletion Reserve )..................................................................2,278,160.49
PREPAID STUMPAGE— Passamaquoddy Company....................................................265,794.26
TREASURY STOCK .............................................................................................................52,312.56
OTHER ASSETS ....................................................................................................................109,214.12
DEPOSITS FOR PURCHASE OF FRACTIONAL COMMON STOCK .....................6,048.00
DEFERRED CHARGES TO OPERATIONS..................................................................58,137.79
UNAMORTIZED DISCOUNT— FIRST MORTGAGE BONDS...................................123,524.97
TOTAL ASSETS
.....................................................................................................$11,421,785.06
LIABILITIES[bold] AND[bold] CAPITAL[bold]
CURRENT LIABILITIES: Loans Payable— Banks .....................................................................................................$ 950,000.00
Trade Acceptances Payable......................................................................................................................171,520.00
Accounts Payable— Trade ........................................................................................................................326,969.04
Due to Officers and Employees.......................................................................................66,392.21
Accrued Expenses ..............................................................................................................61,768.59
Dominion Government of Canada— Income Tax 1929..............................................1,965.63
Reserve for Federal Taxes........................................................................................................................450,000.00
Dividend Payable January 1, 1930 on Preferred Stock .........................................30,737.00
TOTAL CURRENT LIABILITIES....................................................................$2,059,352.47
MORTGAGE NOTES PAYABLE .......................................................................................58,902.00
FIRST MORTGAGE SINKING FUND 7% GOLD BONDS................................... $2,700,000.00
LESS: Sinking Fund— Cancelled Bonds.......................................................................... 439,600.00 2,260,400.00
CAPITAL STOCK:
Common .................................................................................................................................. $3,148,104.96
Preferred— $3.50 Cumulative ......................................................................................... 1,755.650.00
Preferred 6% Non-Cumulative (Liberty Paper Company)................................ 9,500.00
TOTAL CAPITAL STOCK..............................................................4,913,254.96
SURPLUS ............................................. 2,129,875.63
TOTAL LIABILITIES AND CAPITAL......................................................................11,421,785.06
CONTINGENCIES— DECEMBER 31, 1929 (A ) Liberty Paper Company Dividends Guaranteed— $570.00 per Annum— Paid to July 1, 1929. (B ) Passamaquoddy Pulpwood Stumpage Permit calls for the purchase of specified stumpage at a fixed price annually to 1935.
CERTIFICATE: We have examined the books of account and records of the Eastern Manufacturing Company and its subsidiaries, and prepared therefrom the foregoing statement, which, in our opinion, correctly reflects the condition o f the Company as at December 31, 1929.
MILLER, FRANKLIN AND COMPANY, INC.
February 12, 1930.
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