INDUSTRIALS
381
SAFEWAY STORES, INC.
GENERAL OFFICES: Gazette Bldg., Reno, Nevada.
HISTORY: Incorporated under laws of Maryland, Mar. 24, 1926, as a holding
company to acquire the business of Safeway Stores, Inc.,, of California, which a
short time afterwards acquired the grocery stores and bakeries of H. G. Chaffee
Co., Skaggs United Stores, of Idaho, and Skaggs Cash Stores, of California.
BUSINESS: The company, through its subsidiaries, operates an extensive chain
of grocery stores and markets located in California, Washington, Oregon, Mon-
tana, Idaho, Texas, Arizona, Oklahoma, Colorado, Nevada, Missouri, Nebraska,
Kansas, Wyoming, Utah, New Mexico, Iowa, Arkansas, Maryland, Virginia, Dis-
trict of Columbia, Saskatchewan, Canada, and Honolulu.
PROPERTY: At the end of 1929 company operated 2,660 grocery stores (1.366
of which had meat markets in connection), 15 bakeries, 44 warehouses and 2
creameries. Buildings are owned in Los Angeles, Washington, D.C., and other
cities, which are used as branch offices, garages, factories and produce depart-
ments, and which have a total floor area of 1,500,000 sq. ft. Practically all stores
and other buildings occupied are leased.
SUBSIDIARIES:
Safeway Stores, Inc., California. Pay 'n’ Takit Stores, Inc., Arizona.
Skaggs-Safeway Stores, Inc., Nevada. Sanitary Grocery Co., Inc., Delaware.
Skaggs-Safeway Stores, Inc., California Piggly Wiggly Eastern Co., Inc., Dela.
Bird Grocery Stores, Inc. Texas. ware.
Western States Grocery Co., Californ:s astern Stores, Inc, Maryland.
Western States Grocery Co., Nevada. Standard Commodities Corp., Delaware.
Arizona Grocery Co., Arizona. Stndard Provisions Corp., Delaware.
Tri-State Grocery Co. Texas. Piggly Wiggly Pacific Co., Inc., Califor-
Neway Stores, Texas. nia.
Safeway Stores, Inc.,, Texas. Safeway Stores, Ltd., Canada.
EXECUTIVE OFFICERS: M. B. Skaggs, Pres, Oakland, Calif.; L. S. Skaggs, Vice
Pres., Denver, Colo.; Edward G. Yonker, Vice Pres, Washington, D. C.; Edward
Dales Vice Pres. Los Angeles. Calif.; W. R. Griswold, Sec'y.-Treas., Oakland,
Calif.
DIRECTORS: M. B. Skaggs, L. S. Skaggs, W. "3. Brockman,
Charles E. Merrill.
GENERAL AUDITORS: Peat, Marwick, Mitchell ¢
Fiscal Year Ends: Dec. 31. Annual Meeting: 2nd Tues. in A
CAPITALIZATION, As of Dec. 31, 1929
Par Value
$100
£100
$100
Dar
Authorized
$5,000,000
$6,000,000
$4,000,000
1.500.000 shs
Outstanding
$4,598,400
$5,915,000
None
643.911 shs
79% CUMILATIVE CORNYE
PTIRLE PREFERRED STOCK
6% Preferred stock. Directors may
authorize payment of not over $10 per
share to holders of 7% Preferred, who
shall exchange the same for 69% Pre-
‘erred within such period as may be
from time to time specified.
Voting Power: No vote, except in
lefault of six quarterly dividends, when
the holders of both classes of Preferred
have the exclusive right to elect direc-
tors.
Dividends: Payable quarterly, Jan.
l, etc, $7 a year. Initial dividend July
1, 1926. Fully paid to May, 1930.
Transfer Agent: Chase National
Bank, New York City.
Registrar: Bank of America, N. A.
New York City.
Public Offering by: Merrill, Lynch
& Co., New York, in 1926, at par.
Listed on: New York Stock Ex-
change.
Price Range: *1930 1929 1928
High .rennnneeeee. 109% 10915 106%
[ow ic... 1081; 100 106%
ET Mav 30
Provisions: Has equal preference
with 6% Preferred as to assets and
dividends. Entitled to 7% cumulative
dividends. In liquidation entitled to
2110 per share
Warrants: Each share carries warrant
which originally entitled holder to pur-
chase one share of Common stock at
prices ranging from $300 to Dec. 31,
1926, to $500, Dec. 31, 1930. After stock
split up of 5 for 1 in 1928 and inaugura-
tion of $5 per share (option 59% in
stock) dividend policy in 1930, com-
pany gave holders of warrants right
to subscribe to Common stock at $100
per share to the extent of 119% of the
number of shares allowed under orig-
inal warrants.
Sinking Fund: Annual pavments to
a sinking fund starting July 1, 1927, in
an amount sufficient to retire 3% of
the largest amount at anv time out-
standing.
Callable: At $110, on any dividend
late, on 60 days’ notice.
Convertihle: Share for share into
