THOMSON'S MANUAL
WASHINGTON VENEER COMPANY
GENERAL OFFICE: Olympia, Wash.
CONTROL: By Aircraft Plywood Corp., Seattle, Wash.
HISTORY: Incorporated under laws of Washington, 1924. In Oct., 1929, Air-
craft Plywood Corp. acquired 2,005 of the 4,000 outstanding common shares.
BUSINESS: Engaged in the manufacture of veneers and plyboard panels, for
doors, auto bodies, trunks, furniture, sign boards. ete. Also manufacturer lum-
per in standard specifications.
PROPERTY: Concrete and steel veneer plant, with equipment for 80,000 square
feet per day. Sawmill of 60,000 feet, board measure, capacity. Tl.ocated on salt
water at Olympia, Wash.
DFFICERS: E. Westerman, Pres.
CAPITALIZATION, As of Dec. 31, 1929
Par Value Authorized Outstanding
1. 8¢ Cum. Pref. Stockuooceerccceeee. $100 $500,000 $500,000
2, Common Stock icici. = $100 8.000 shs 4.000 shs
PREFERRED STOCK
Provisions: Entitled to cumulative Tax Status: Company pays normal
dividends at the rate of $8 per share Federal income tax up to 2%.
per annum. Has preference as to as- Dividends: Payable semi - annually
sets Jan. and July 1, at Capital Nat. Bank,
Callable: At 104 as a whole or in Olympia.
art on any dividend date on 60 days’ Public Offering by: Marine National
notice. Co., Seattle, March, 1930, at 100.
INCOME STATEMENT, Year Ending Dec. 31, 1929
Gross Sales cueeceecceeeieeeeeaaaneaa$1,998,554 Selling & Gen. Expense............ 151,383
Less Freight and Allowances. 109 268 —-—
Net Sales oo - Net Operating Profit......$ 233,230
Cost of Manufacture...... Interest, Amortization, Misec..... 56.319
Gross Profit 0 ,ul3 Net Profit .. eeeeen$ 176.911
COMPARATIVE BALANCE SHEET, As of Jan. 1
ASSETS— 1930
CASH ceeeeeeeeemcceem creme eens 19,861
Accounts Receivable ___..... 202,386
mventorv 164.760
1. R]R% CUMULATIVE
4,659
93.075
120.368
$ 228,102
4.500
767,873
11.101
¢1 001.576
Total Current Assets |
nvestments—Stocl ....
Fixed Assets .........
Deferred Charge
TOTAL ASSETS .
LIABILITIES
Current ... [ES
Fixed ......... ————————————————— Tasers mane
RESCTVES ietrmmcccceeeaacamememaeas enn em——————-
Common Stock ..iveevicicees roman EA ERE ER
Preferred SOCK eee camee + —mmemmeameecaeamaocmcamasnnnan eos
Surplus—=Special .... eee eee eee mmam mmm mmmmmemnemmemaemaanae-
SUrplns ees ——————
TOTAL LIABILITIES
Tl. 5.600
©1767 434
"F488
474
991
000
000
.39
ngY
,1.767.434
154,573
144,818
115,485
£00,000
91,390
(05.310
1 001.576
FUNDED DEBT, As of Dec. 31, 1929
First (Closed) Mortgage Sinking Rate Dated Due Authorized Qutstand.
Fund Gold BondS..............._.. 6Y%% T-1-928 7-1-36 $150.000 $127,500
Interest Payable: Jan. and July 1at $7,600 principal amount of bonds by
National Bank of Commerce, Seattle. purchase at not exceeding par and in-
Trustee: National Bank of Com- ‘erest or call by lot.
nerce, Seattle. Tax Status: Company pays 2% Fed-
Registerable: As to principal. aral income tax.
D i i : 0 Security: First closed mortgage on
vp Do omisnt ons Coupon, 354 any all fixed properties now owned or here-
Caliable: As a whole or in part by after acquired.
lot on any interest date on 60 days’ Legal Opinion by: Messrs. Donworth.
notice at 100 and accrued interest. Todd & Holman, Seattle.
Sinking Fund: Beginning Jan. 1, Offered by: National Bank of Com-
1098 retire each succeeding 6 months merce. Seattle. July. 1926, at 9915.
