NDUSTRiA.
Ll. CLASS A CUMULATIVE STOCK
Provisions: Has preference as to as-
sets at $60 per share, and dividends, in
dissolution, and as to $4 cumulative di-
vidends per annum, and is also entitled
to receive one-fourth of the amount of
any dividend paid on Class B shares.
Consent of two-thirds majority re-
quired for creation of mortgage or oth-
er lien (except purchase money mort-
gage); or to increase authorized
amount of Class A, or to issue any
prior preference stock, or to guaran-
tee the indebtedness or stock dividends
of any other company (except to ac-
quire additional property), unless the
appraised value of properties acquired
is at least 509% greater than that of the
indebtedness or stocks to be issued and
the net earnings of such properties for
12 consecutive months out of 15 months
next preceding date of acquisition shall
be twice the annual interest or dividend
charges thereon.
Callable: On 30 days’ notice at $60
and accrued dividends.
Convertible: Each share into 11%
Class B shares, at any time up to date
of redemption.
Voting power: Equal with Class DB.
Dividends: Payable quarterly, Mar,
une, Sept. and Dec. 1. Initial dividend
>f 66 2-3 cents paid Dec. 1, 1925; Mar.
. 1926, $1, and regularly, quarterly,
since.
Ex-Dividend Date: 12th of preceding
month.
Transfer Agents: Seaboard National
Bank of New York, and American Trust
Co., San Francisco.
Registrars: Bank of America, New
York; Wells Fargo Bank & Union Trust
Co., San Francisco.
Public Offering by: Spencer, Trask
& Co., Bond, Goodwin & Tucker, Inc,
Smith & Strout, Inc.
Listed on: New York and San Fran-
cisco Stock Exchanges.
2. CLASS B STOCK
mination of voting trust, into 13%
shares.
Voting Power: Equal with Class A.
Dividends: None paid.
Transfer Agent: Seaboard National
Bank, New York.
Registrar: Bank of America. New
York.
Price Range: 1927-1929—High. 49:
low, 7.
Voting Trust: Class B shares are de-
posited under a voting trust agreement
terminating Oct. 7, 1935.
Trustees: S. H. Berch, Roy E. Camp-
bell, Cecil Barret.
Conversion: Holders of Western
Dairy Products, Inc. (formerly Califor-
nit Dairies) preference stock have privi-
lege of converting each share owned
into 2 shares of Class B stock until
June 15. 1932, and thereafter, until ter-
COMP 7 / TIVE CONSOLIDATED BALANCE SHEET, As of Dec. 31
AQQER"™
Cash ...
Notes & . ccount
Sundry Notes «
Inventoriee
2
rets
.P88 nn,
aC.
Total Current Ae-o:
Prepaid Expenses ...
Investments ......ccceeee oo...
Plant & Equip. (depreciat-
GoodAWill ooo
Unamortized Bond Discount............
Deferred Charges to Operations...
TOTAL ASSETS cee... ee
*Tncludes subsidiary companies.
LIABILITIES-
Accounts Payable ......
Accrued Liabilities .......
Federal Tax Reserve
Total Current Liabilities ..
Funded Debt oii,
Western Dairy Products, Inc.:
Preference Stock owned by public........
Arden Sanitary Gold Seal Farms:
Common Stock owned bv public...
Capital Stock ....
Surplus
TOTAL LIABILITIRF ..
Net Working Capital........oooooeooeeooo
Ratio Cur. Assets to Cur. Liab...............
Book Value Class A shares...
1929
"97,50
~~ 0.
.-
Lk
e708
10,324
76.839
49.747
$91 785 281
1,374,231
298,541
129.500
202,272
100,500
398.000
"45
62,523
6924 241
.. 381
2,941
..8:1
£92 28
1028
5,391
"06
€
D0.
£10.00
6,622,075
ROE KK
©0,004,347
2,300,743
6.9"
254.84
1927
235,908
185,179
70,938
156.179
204
133
4
29286
NY,
-
¥. 397 2924
91,162
65,891
27 ONAN
DES
1 500
3,255,005
A766 766
24
151
»:1
5 17
