ras
323,

THOMSON'S MANUAL

AFFILIATED COMPANIES: Gallatin Valley Milling Co., owns and operates about
30 elevators in Montana, together with a 300-barrel flour mill at Belgrade, Mont.
White-Dulany Co., also affiliated, operates elevators and has buying agencies
in Washington, Idaho and Oregon, through which it buys wheat used by Fisher
Flouring Mills Co.
DFFICERS: O.D. Fisher, Pres. and Gen. Mgr.; W. P., Fisher, 1st Vice Pres.; M. A.
Arnold, Vice Pres.; D. R. Fisher, Vice Pres.; O. W. Fisher, Treas.; W. S. Allen,
Sec'y.; J. M. Marrow, Asst. Treas.; J. L. Locke, Purch. Agt.
DIRECTORS: O. D. Fisher, M. A. Arnold, D. R. Fisher, L. C. Henry, W. S. Allen,
R. B. White, G. W. Dulany, Jr., Will P. Fisher, O. W. Fisher.
Fiscal Year Ends: July 31. Annual Meeting: 4th Wed. in Aug.
CAPITALIZATION, As of Dec. 31, 1929
Par Value Authorized
7% Cum. Preferred Stock............... $100 $3,000,000
Common Stock .... wave, «+ 3300 $3,000.000

Outstanding
$1,426,900
$2.107.600

i. 7% CUMULATIVE
Provisions: Has preference as to 7%
cumulative dividends and as to assets,
mn liquidation, entitled to 107 and accrued
 dividends.
No mortgage (except purchase money
mortgages) may be created without
consent of two-thirds of Preferred and
no Preferred having priority may be
issued unless (a) net assets equal 200%
and net quick assets 125% of Preferred
outstanding and to be issued, (b) net
earnings for fiscal year preceding equal
twice annual dividends outstanding
and to be issued. Company must main-PREFERRED

 STOCK

tain net assets equal to $100 per share
and no dividend can be paid on Common
 which would impair these ratios.
Callable: At 107 and accrued diviiends
 on 60 days’ notice.
Voting Power: Has no voting power
unless four quarterly dividends are in
arrears, when it has full voting power.
Dividends: Regular dividends paid
quarterly, Jan., Apr. July, Oct. 1.
Transfer Agent and Registrar: The
Company.
Public Offering by: Bond & Goodwin,
 Nov., 1919, at 100.

2. COMMON STOCK
Details: Increased from $400,000 to 1924; 8%, 1925, 3% in 1926 and 1927; 6%
51,000,000 in 1911; to $1,200,000 in 1917, i, 1928
and to $3,000,000 in 1921. : : .
Dividends: 9% paid in 1919 and 1920; Transfer Agent and Registrar: The
none in 1921; 89%, 1922; 49%, 1923; 29%, Company.
COMPARATIVE INCOME STATEMENT, Years Ending July 31
1929 1928
.$491,7° $439,944
mE. qe 244

1927
$361,651
51,709
$309,942
100,396
63,198
$146,348
$26.64
9.95

Net INCOME oem
Federal Taxes ..........

Balance
Preferred Dividends ...... .
Common Dividends ... ooo

126.4586

Surplus for the Year. cece occeeeeeeaed 50,284 14,024
Farned, per share Preferred stock.........cccccceeeee. $30.36 $26.18
Tarned. per share Common stocK......o.cooooemoe.e 15.06 12.97
COMPARATIVE BALANCE & "TET, As of July 31
1928
579,586
228,864
“56.940

ASSETS—
TABI oer mevmpmmrmrmomeenm mr pm——— ie ni 5
Notes and Accounts Receivable...
[nventories .......

1927
3 530,151
1,209,066
1.060.136

Total Current Assets...............
Plant and Equipment...
Miscellaneous Assets ....
TOTAL ASSETS
LIABILITIES—
Notes Payable ..............
Accounts Pavable _.__ . _......

in

$2,799,352
2.046.033
375.648
$5 291.033

Cc ogr

‘b
35 298.5585

an ere

200,000
2K 92a0

5 250,000
95 746

Total Current Liahilities
Preferred Stock .........
Common Stock eee
Reserves ... amas eet ate aam——————
Surplus

26

0
20

275,746
,48%,400
106,600
107,346
.298 941
$5,221,033
2,523,606
9.9:1
$162.17

J
£9
L,v00
1 pec Tc

sd

vw
0
CR

TOTAL LIABILIT
Net Working Capital. oo iiiiaeaneae =
Ratio, Cur. Assets to Cur. Liabilities........ i
Book Value Common Shares... 3182.60

h.

€
dy l &
c

£

T% 319