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NDUSTRIALS 
GENERAL PAINT CORPORATION 
GENERAL OFFICE: 160 Fremont St, San Francisco, Calif. 
BRANCH OFFICES: Seattle, Spokane, Portland, Los Angeles, Oakland, Houston, 
Tulsa, Honolulu, New York. 
HISTORY: Organized under the laws of the State of Nevada on Oct. 3, 1928, at 
which time there were merged the business and assets of the following compa- 
nies: Bradley-Wise Paint Co., Brininstool Paint Co., California Paint Co., Hill. 
Hubbell & Co., Jones & Dillingham Co., Magner Bros. Paint Co., Rasmussen & 
Co., Seattle Paint Co., Technical Oil & Paint Co. Corporation also acquired the 
oS. Finch Chemical Corp. of Los Angeles, manufacturer of lacquers. 
BUSINESS: Corporation owns and operates paint manufacturing plants in San 
Francisco, Los Angeles, Seattle, Portland, Spokane and Tulsa and pipe coating 
plants in Milwaukee, Wis.; Indiana Harbor, Ind.; Youngstown, Ohio; Lorain, 
Ohio, and Ambridge, Penn. Operates either directly or through subsidiaries in 
all Pacific Coast states, throughout the Middle West and on the Atlantic Coast. 
In the pipe coating plants, machinery has been installed for coating and wrap- 
ping pipe, the patents for which are controlled or owned by the corporation. 
OFFICERS: E. A. Bradley, Pres.; D. W. Boylan, Vice Pres. and Treas.; 8S. C. Ras- 
mussen, Vice Pres. in charge of northern division; C. H. Jones, Vice Pres. in 
charge of Inland Empire division; O. 8S. Orrick, Vice Pres. in charge of export 
sales; M. S. Orrick, Sec'y. 
DIRECTORS: H. M. Bateman, D. M. Boylan, D. W. Boylan, E. A. Bradley, F. M. 
Brininstool, W. Ferem, L. Hubbard, C. G. Johnson, C. H. Jones, H. L. Jones, L. B. 
Mackey, M. 8. Orrick, O. 8S. Orrick, J. P. Rasmussen, S. C. Rasmussen, J. H. Schin- 
neller. 
GENERAL AUDITORS: Haskins & Sells, San Francisco, Calif. 
Fiseal Year Ends: Dec. 31. Annual Meeting: 1st day of Nov. 
CAPITALIZATION, As of Dec. 31, 1929 
Par Value Authorized Outstanding 
I. Class A Stock....... wueee..NO Par 200,000 shs 80,000 shs 
2. Class B StocK.coeeeeeeceieiccceeeeee.....No Par *600,000 shs 173,242 shs 
*200,000 shares reserved for conversion of Class A stock and 50.000 shares for 
sale to emplovees. 
Provisions: Preferred as to cumula- 
live dividends of $2 per annum and as 
ro assets in event of liquidation to ex- 
ent of $33 per share. 
Rights: Carries preferential right to 
:ubscribe to any additional A stock 
‘hat mav be issued. but not to B stock. 
. CLASS A STOCK 
times annual dividend requirement on 
111 A stock then outstanding and also 
»n additional A stock intended to be is- 
sued. These restrictions may be elim- 
nated or modified by written consent 
f holders of at least 759% of A stock 
‘hen issued and outstanding. 
Callable: At any time as a whole or 
a part on at least 60 days’ notice, at 
‘33 per share plus accrued dividends. 
Convertible: Into B stock, share for 
hare, at any time, at option of holder, 
o within 10 days of redemption date. 
Voting Power: Equal with B stock. 
f, at date of annual meeting, {+ quar- 
.erly dividends are in arrears, A stock 
shall be entitled to elect majority of 
lirectors, so long as default continues. 
Dividends: 50c paid quarterly, Jan. 
vpr., July, Oct. 1, from and including 
‘an. 1, 1929, to and including April 1, 
930. Dividend of July, 1, 1930, de- 
‘erred. 
Ex-Dividend Date: Set by directors, 
10t more than 15 davs prior to payment 
late. 
Transfer Agent: Crocker First Fed- 
ral Trust Co., San Francisco, Calif. 
Registrar: Wells Fargo Bank & Un- 
»n Trust Co.,, San Francisco, Calif. 
Legal Opinion by: Orrick, Palmer & 
Yahlquist, San Francisco. 
Public Offering by: E. H. Rollins & 
ions, Oct. 8, 1928, at $30. 
Number of Stockholders: 794. 
Listed on: San Francisco and Los 
ingeles Stock Exchanges. 
Price Range: 1930 to June 1, high, 
’2; low, 17; 1929, high, 385%: low. 20. 
Protective Features: Articles of in- 
corporation prohibit corporation from 
declaring dividends on B stock which 
will reduce net assets, exclusive of in- 
.angible assets, below $40 for each 
share of A stock, or reduce the amount 
of current assets to less than 200% of 
current liabilities. 
The articles of incorporation further 
prohibit, so long as any A stock is out- 
standing, (a) incurrence of any indebt- 
edness maturing later than one year 
after its incurrence, except purchase 
money obligations; (b) issuance of any 
stock which shall rank ahead of A 
stock; (c) declaration of any stock di- 
vidends on B stock; (d) the issuance of 
more than the 160,000 shares of present 
authorized B stock for any considera- 
tion per share less than the book value 
per share of the then outstanding B 
stock; (e) the issuance of any A stock 
over and above the 80,000 shares here- 
tofore mentioned, excepting in connec- 
tion with the acquisition of additional 
tangible assets, and then only one 
share of A stock may be issued for 
each $40 of net tangible assets to be 
acquired, and only when the profit 
available for dividends (including that 
from properties to be acquired) for 12 
consecutive months out of preceding 15 
shall have been not less than three 
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