Thomson's manual of Pacific Northwest finance

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Monograph

Identifikator:: 1838857176

URN:: urn:nbn:de:zbw-retromon-229226

Document type:: Monograph

Title:: Thomson's manual of Pacific Northwest finance

Place of publication:: Seattle

Publisher:: Thomson's Statistical Service

Year of publication:: 1930

Scope:: XXX, 487 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Section VII. Finance

Collection:: Economics Books

04 THOMSON'S MANUAL All ordinary operating expenses defined to include salaries, rent, traveling axpenses, etc, are to be paid by the manager, who shall be entitled to receive a fee of 3 of 1% per annum of the Capital, Surplus, Reserves and Undivided Profits nf the Corporation. RESTRICTIONS: Restrictions of the Corporation provide that mot over 109% of the Capital, Surplus, Reserves and Undivided Profits may be invested in any one security. It will be the policy of the Corporation that under ordinary conditions not over 5% of the Corporation's Capital, Surplus, Reserves and Undivided Profits will be invested in any one security. It will further be the policy of the Cor- soration to invest its Capital without incurring any indebtedness. The Corporation issues to its stockholders every three months the earnings statement, balance sheet, and itemized holdings of the Corporation, detailing amounts, costs, market values and segregation of earnings. OFFICERS: R. M. Drumheller, Chairman; Ben B. Ehrlichman, Pres.; R. I.. Ehr- lichman, Vice Pres.; W. H. White, Vice Pres.; Odd O. Young, Vice Pres.; L. C. Barton, Sec’y-Treas.; R. F. Hewitt, Asst. Sec'y and Asst. Treas.; Roger L. Shidler, Asst. Sec’'y; F. W. Buff, Comptroller. DIRECTORS: R. M. Drumheller, B. B. Ehrlichman, W. H. White, Odd O. Young, R. I. Ehrlichman. CAPITALIZATION, As of June 30, 1930 Par Value Authorized Outstanding No Par 600.000 shs 120,000 shs Common Stock _........ DETAILS OF STOCK Provisions: Dividends may be paid only from earnings derived from inter- est and dividends actually received, and ‘rom proceeds of rights and stock divi- ends sold, until contingent reserve fund is equal to at least 14 paid-in Common stock capital. Liquidation: The consent of two- thirds in interest of all stockholders having voting power is required for 1issolution. Warrants: Each share carries a war- rant entitling holder to purchase be- fore Jan. 1, 1935, one additional share >f Common stock at $10. Warrants are detachable and are :raded in on Seattle Stock Exchange. United National Corporation sub- scribed and paid cash for 20,000 shares of the Common stock at $10 per share net. The contract with United Nation- al Corporation provides that it receive warrants in connection with issuance of 120,000 shares initially outstanding, antitling it to purchase, on or before Jan. 1, 1935, 60,000 shares of the cor- poration’s Common stock at $10 per share, and further. that United Nation- 21 Corporation also be entitled to re- ceive one warrant upon the issuance ‘or value of each two shares of Com- non stock in excess of the above men- cioned 120,000 shares of Common stock. This agreement effective only so long 1s United National Corporation owns a minimum of 20,000 shares of Common jtock, and is not to be effective with espect to Common stock issued on ac- ount of the exercise of warrants. Dividends: Initial dividend of 10c a hare paid July 1, 1930. Ex-Dividend Date: 16th of prior nonth. Transfer Agent and Registrar: First Seattle Dexter Horton National Bank. Legal Opinion by: Harroun, Robin- son, Maloy & Shidler, Seattle, Wash. Publie Offering by: Drumheller, Ehr- jchman & White, Seattle; Murphey, Favre & Co. Spokane; United Oregon ~o., Portland, Dec., 1929, at $10. Number of Stockholders: 800. Listed on: Seattle Stock Exchange. Price Range: 1930, Jan. 1 to June 1 high. 121%: low, 81%. COMPARATIVE STATEMENT, 6 Months Ending June 30. 1930 Gross Earnings ... Expenses ....... Net BOrningEs ..o.cscssssmsssissevsomusnmvsas Provision fOr INCOME MT aX... iaecicaeeccaczmmaarmesasessmaaamasmnamresnstnasan $62,113 8.965 $53,148 4.687 48,460 12.005 $36.455 Net Income ... _— Dividends Paid oom. Surplus ee wees ere. BALANCE SHEET. June 30, 1930 AQT [.TARTLITIES TASH ceeeeeeeeeeerreneeeeseennnenas ane eeee- 3 15,637 Securities Owned, at Cost........ 1,234,610 Dividends Receivable 8,183 Accounts Receivable ee Revenue Stamps coos TOTAL ASSETS een. 831.259.262 Capital Stock ..eoeeivccceccnceeaeaea. $1,200,500 Management Fec Accrued.......... 4,125 Accrued Federal Taxes...... ... 4,688 Dividends Payable . .- 12,005 Accounts Pavable ______ | 1,489 Surplus . FE, 36.455 TOTAL LIABILITIES ..........$1.259.262 Market value $1.078.612

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