THOMSON'S MANUAL

Pure Milk Dairy
Products Co.
Mayflower Dairy
Jersey Dairy
West Seattle Dairy
Mrescent Dairy

v

Certified and pasteurized
 bottled milk and
scream, butter and cheese
sold principally under
brand name “Carnation.”
 All these units
now operating under
the mame of Carnation
Farm Products Co.
Ice cream under the
brand name “Carnation.”
Pasteurized bottled
milk and cream under
syrand name of their respective
 dairies — also
butter and cheese. These
units are now operating
under name of Carnation
 Farm Products Co.

Seattle, Washington

Carnation Ice Cream
Co.
Portland-Damascus
Milk Co.
Steigerwald Dairy Co.
Riverview Dairy Co.
Fernwood Dairy Co.
Modern Dairy, Inc.
Vine Lodge Dairy
Green Hill Dairy
Rainbow Dairy Products
 Co.
Holbrook Farm

Seattle, Washington
Portland, Oregon

Pasteurized bottled
nilk and cream, cheese
ind ice cream under
srand name of respecsive
 dairies.
Pasteurized bottled
nilk¥ and cream under
srand name of company.
Pasteurized bottled
nilk and cream, butter,
heese and ice cream unjer
 brand name of respective
 companies.
Pasteurized bottled
milk and cream, butter,
‘theese and ice cream unjer
 brand names of respective
 companies. All
hese units now operating
 under name Quality
 Dairy Products Co.
Pasteurized bottled
milk and cream, butter
and cheese under brand
name “Carnation.”
Package cereals, patent
 flours, stock and
noultry feed sold principally
 under the brand
names “Carnation” and
“Albers.”
Evaporated milk and Fifty-five foreign councondensed
 milk with tries including England,
plants in Germany, Hol- Continental Europe and
jand and France. Far East ]
*The Carnation Company, in addition to solely owning all other companies
mentioned, owns the majority of stock in the American Milk Products Corporation,
 an export company.
BUSINESS & EARNINGS: In 1900 the gross business was $170,489: 1905, $1.138,-088;
 1916, $13,025,559; 1929, $48,054,388. .
_ Earnings on turnover for four years ending Dec. 31, 1929, were 5%. Due to
falling commodity prices and as result of consolidation of so many companies
tn 1929 the percentage did nof eaual 5%.

Broadview Dairy Co.
Pine Creek Dairy Co.

Spokane, Washington

NAPITALIZATION, As of Mar. 1, 1930
Par Value Authorized
1. 79% Cum. Preferred Stock............. $100 100,000 shs
2. Common Stock ..... __..... NoPar 200.000 shs
PREFERRED STOCK
oresent property without the consent
>f holders of 75% of the outstanding
referred stock. (4) Stock in addition
‘0 this issue may not be issued unless
iret earnings applicable to dividends for
past calendar year shall have been 3
‘imes requirements on stock outstandme
 and proposed to be issued. (5)

i. 7% CUMULATIVE
Provisions: (1) Preferred as to divijends
 and as to assets in liquidation
ip to $110. (2) Company covenants to
maintain at all times net quick assets
aqual to not less than 125%, and net
-angible assets equal to not less than
200%, of Preferred stock outstanding.
(3) No mortgage mav be ziven on the