INDUSTRIALS
INCOME STATEMENT, Year Ending Mar. 31, 1930
Gross Sales ..........
Cost of Sales, etc. .....
Net Earnings .
Other Income ...
Total Income .......
Taxes .ccoiicncnannnnn..
[nterest, ete. .......
Net Income .........._.
Preferred Dividends ..........
Common Dividends ....
Surplus for the year.....................
Earned, per share Preferred stock......
Earned, per share Common stock...
cree. $19,762,168
.. 19,160,585
AN1,583
115,923
017,506
36,579
70.446
790,481
99.487
87.500
‘03,494
*51.93
19.10
COMPARATIVE CONSOLIDATED BALANCE SHEET, As c.
Mar. 31, 1930 June 30, 1929
CAS teeter eee evans een. $220,290 $ 220,297
Accounts Receivable oo ees ans 889,269 1,202,846
IBIIIES coriniannsim ssn ar ma SRE SR Tin dm pb manasa anes samamt rs wmansnreantarsosonstnememeenes ST BI
Advances to GrOWeTrS....o..oooccooiiiiiiiiiiiiiiiieee cee eeeeeeeeeeene. 552,501
l.ife Insurance .... a GR EH ETAT A A 21,661
Inventories ................ eeireeecseceeeeeneeeee.. 878,078
Prepaid Expenses ....... ee etereeceoetoeesenaeeaenenan 126,367
INVEStIMENTS ioc eee eee eee eee 13,902
Due from Affiliated Companies...........cccoooooceveeeieiiecceeaaasaaannnnn.. 557,660
Property Equipment .. rvecneracemenees rreneeenen oo. 4,308,756
Deferred Charges ... 37,306
ASSET
TOTAL ASSETS
4,201,331
LIABILITIES-
Notes Payable ............
Equipment Obligations ..........cco0 ieee.
Accounts Payable eee
Accrued Liabilities ........... eee
Reserve for TaXeS ieee eee eee
Employees’ Savings o.oo ieee
Funded Debt een
Preferred StOCK oi eee een
Common Stock ..ooceeieiieieeaeens
Earned Surplus ..ooeeeee....
R90 500
»
>
325,000
22309
325,237
23.200
42,533
50,050
770,000
L,137,000
1,000,000
466.002
263,711
34,848
14,852
91,700
730,000
137,000
000,000
721,002
TOTAL LIABILITIES ...........
FUNDED DEBT, Ax of Mar. 31, 1930
Rate Dated Due Authorized
serial Gold Notes ............................ 6% 12-1-27 1928-37 $850.000
Interest Payable: Dec. 1 and June 1,
at office of trustee.
Principal Payable: Dec. and June
each year, Dec. 1928, $460,000; June-
Dec., 1929-32, $40,000; June, 1933, $40,-
000; Dec., 1933, $50,000; June and Dec..
1934-1937, $50,000.
Trustee: National Bank of Com-
merce, Seattle, Wash.
Callable: As a whole or in part on
any interest date on 30 days’ notice at
par and accrued interest, pius a pre-
mium of 21% 9% if called on or before
Dec. 1, 1928; thereafter a premium of
14% per annum for each year, or part
thereof, of the unexpired term, except
that premium shall in no case be less
than 1% 9%.
Tax Status: Company pays normal
Federal income tax up to 2%.
Security: Company agrees so long
as anv of these Notes are outstanding
24 9201 221
Outstanding
$730.000
not to create any funded debt or issue
any indenture notes, bonds or other
obligations similar to notes of this is-
jue, properties owned will at all times
be free and clear of encumbrance. The
company also agrees to maintain at all
.imes net quick assets equal to 1%
times the amount of these notes out-
standing and total assets in an amount
:qual to two times its total liabilities,
ncluding these notes. Policies in favor
f the company, aggregating $300,000.
vill be carried on the life of George
fouell, president of the company, dur-
ng the life of this issue.
Legal Opinion by: Peters & Powell.
Seattle, Wash.
Offered by: Marine National Co.
and Geo. H. Burr, Conrad & Broom,
Dec., 1927, at prices ranging from 101
for first maturity to 98.50 for last
