.MTk.MTQ2

Report

on

Eastern

manufacturing

Company

and

Subsidiaries

Consolidated Statement of Condition A s at December 3 1, 1929 ASSETS CURRENT A SSE TS: Cash in Banks and On H an d.......................................................... Notes R eceivable (Less R e s e rv e s)............................................... A ccou n ts Receivable— Trade (Less R e s e rv e s )......................... Due from M adawaska Company— Sale o f Stum page.............. In ven tories: Pulpw ood in Pile at M ills.............................................................................................$ 730,910.19 Raw M aterials and Supplies....................................................................................... 608,114.42 W ork in P rocess at M ills............................................................................................. 102,751.36 Finished Paper ............................................................................................................... 603,362.53

$

214,394.68 39,628.63 540,502.69 203,000.00

2,045,138.50

Pulpw ood Operations ....................................................................................................... M arketable Securities, at Cost, and A ccrued In terest...........................................

788,960.31 68,355.83

T O TA L CURRENT A S S E T S ..............................................................................

$ 3,899,980.64 71,029.66 4,557,582.57 2,278,160.49 265,794.26 52,312.56 109,214.12 6,048.00 58,137.79 123,524.97

MISCELLANEOUS INVESTMENTS AND ACCRUED IN TE REST (Less R eserves PLANT A SSE TS (Less Reserves) ................................................................................... TIM BERLANDS (Less Depletion R e s e r v e ).................................................................. PRE PAID STUMPAGE— Passam aquoddy Com pany.................................................... TREASU RY STOCK ............................................................................................................. OTHER A SSE TS .................................................................................................................... DEPOSITS FO R PURCHASE OF FRACTIONAL COMMON STO C K ..................... D EFERRED CHARGES TO O PERA TIO N S.................................................................. UNAMORTIZED DISCOUNT— F IR S T MORTGAGE BONDS................................... TO TAL ASSETS .....................................................................................................

$11,421,785.06

L IA B IL IT IE S A N D C A P IT A L CURRENT L IA B IL IT IE S : Loans Payable— Banks ..................................................................................................... Trade A cceptan ces P ay ab le...................................................................................................................... Accounts Payable— Trade ........................................................................................................................ Due to O fficers and E m ployees....................................................................................... Accrued Expenses .............................................................................................................. Dominion G overnm ent o f Canada— Incom e Tax 1929.............................................. Reserve fo r Federal T a x e s........................................................................................................................ Dividend Payable January 1, 1930 on Preferred S to ck ......................................... TO TA L CURRENT L IA B IL IT IE S MORTGAGE NOTES PAY AB LE ....................................................................................... FIR S T MORTGAGE SINKING FUND 7% GOLD BONDS................................... $2,700,000.00 LESS: Sinking Fund— Cancelled B on d s.......................................................................... 439,600.00

$

950,000.00 171,520.00 326,969.04 66,392.21 61,768.59 1,965.63 450,000.00 30,737.00 $2,059,352.47 58,902.00 2,260,400.00

CA PITAL STOCK: Common .................................................................................................................................. $3,148,104.96 Preferred— $3.50 Cumulative ......................................................................................... 1,755.650.00 Preferred 6% Non-Cumulative (L iberty Paper C om p a n y)................................ 9,500.00 TO TA L C A PITA L STOCK

4,913,254.96

SURPLUS .............................................

2,129,875.63

TO TA L L IA B IL IT IE S AND CA PITAL

11,421,785.06

CONTINGENCIES— DECEMBER 31, 1929 (A ) L iberty Paper Company Dividends Guaranteed— $570.00 per Annum— Paid to July 1, 1929. (B ) Passam aquoddy Pulpw ood Stumpage Perm it calls for the purchase o f specified stum page at a fixed price annually to 1935. C E R TIFIC A TE : W e have examined the books o f account and records o f the Eastern M anufacturing Company and its sub­ sidiaries, and prepared therefrom the foregoin g statement, w hich, in our opinion, correctly reflects the condi­ tion o f the Company as at Decem ber 31, 1929. M ILLER, FRANK LIN AND COMPANY, INC. February 12, 1930.

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