INDUSTRIAL
TONSOLIDATED BALANCE SHEET, As of Dec. 31, 1929
ASSET
Cash ...... © mmmeeenean enema
Accounts Receivable ........
Advances on Purchases..............._
Merchandise Inventory ... —s
Total Current Asset. —
Prepaid Expenses ......oooooiiiooieceeeee oo.
[.Land, Bldgs. and Equipment..........................
TOTAL ASSETS
LIABILITIES-
Notes Payable oo.
Accounts Payable .......
Accrued Expenses ....... ...
Accrued Dividends .........
Federal Tax Reserve...
p
1,444,696
528,753
58,656
8,274,367
9
y89.139
*“B5 549 640
650,000
2,176,490
404,027
135,756
218.128
Total Current Liabilities... iin 3,585,580,
Mortgages Payable ooo eee eee eee 104,038
Preferred Stock ... ST EP PE eee. Fei 1E S11)
Common Stock .... REE SS mn mn RAS 8 er im 777,919
Paid-In Surplus ............. ceemreernnenannenanannennnraeaananeenanneneee 2,378,988
Earned Surplus ............... R88.694
TOTAL LIABILITIES oii eee 20 h41()
Net Working Capital. oo eee eee
Ratio Current Assets to Current Liabilities..................._.
Book Value Common shares......
— ba
McLENNAN., McFEELY & PRIOR. LTD.
GENERAL OFFICE: Vancouver, B.C.
HISTORY: Incorporated under laws of British Columbia, 1928, as a consolidation
of McLennan, McFeely & Co. Ltd. Vancouver, established in 1886. and E. G.
Prior & Co., Ltd., Victoria, established in 1859.
BUSINESS: Company is wholesaler of general hardware, holding many valuable
exclusive agencies for the Province of British Columbia for iron and steel, shelf
and heavy hardware, mill, mine, logging, railroad and contractors’ supplies,
sporting goods, radios, automobile accessories, etc.
OFFICERS: Andrew Houstoun, Pres.; Gordon Farrell, Vice-Pres.; C. P. W.
Schwengers, Man. Dir.
DIRECTORS: Hon. Sir F. S. Barnard, K.C.M.G.: R. P. Butchart, Gordon Farrell,
Andrew Houstoun, J. H. McLennan, H. A. Ross, C. P. W. Schwengers. Frank
Wilkinson.
GENERAL AUDITORS: Helliwell, Maclachlan & Co.. Vancouver
CAPITALIZATION, Ax of Dec
Par Value
LI. 613% Cum. First Pref. Stock.......... $100
2. 61% Cum. Second Pref. Stock........ $100
3. Common Stock ea ——— 31
i. 61%% CUMULATIVE PREFERRED STOCK
Provisions: Has preference as to as- juired. Company cannot without con-
sets and cumulative 61%9% cash divi- sent of majority of issued First Pref.
dends. Entitled to 105 in voluntary li- shares issue or allot any of the First
quidation and 100 in involuntary. ref. shares in excess of nominal or par
No dividends shall be paid on any ralue of $1,200,000.
shares other than the First Pref. shares Callable: As a whole or in part on
if net current assets would .be reduced 30 days’ notice at 105.
below 125% of par value of issued First Voting Power: No vote unless and
Pref. shares or if the total net tangible itil company is in default in 6 quar-
assets would be reduced below 175% erly dividends when it is entitled to
of par value of issued First Pref. ne vote a share.
shares. Dividends: Payable quarterly Jan.
Company shall not without consent of ipr.,, July and Oct. 1; paid Oct. 1, 1928.
majority of First Pref. shares mortgage f 1% 9% per share.
or encumber any assets, real or per- Ex-Dividend Date: Dec. 24, etc.
sonal, or create any additional Pref. Transfer Agent and Registrar: Royal
shares ranking in priority to or pari Trust Co., Vancouver, B.C.
passu with the First Pref. shares of Legal Opinion by: Griffin, Montgom-
this issue provided that the Co. may ery & Smith, and Davis, Pugh, Davis,
give security to its bankers in ordinary Hossie, Ralston & Lett, Vancouver, B.C.
course of business and may renew ex- Publie Offering by: A. E. Ames &
Isting mortgages or give security for Co., Vancouver, B.C., Aug.. 1928 at
purchase price of any new property ac- 9614.
2, 61%% CUMULATIVE SECOND PREFERRED
Provisions: Has second preference as Dividends: Payable
BD Jurors and 614% cumulative divi- Apr... July and Oct. 1
dende
