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    "title": "Report, December 31, 1925",
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    "ocrText": "REPORT\nUnited States Radium Corporation\nDecember 31, 1925\nOFFICERS\nW. REDMOND CROSS\nChairman\nARTHUR ROEDER\nPresident\nHAROLD B. VIEDT\nVice-President\nTHOMAS R. STRAHAN\nSecretary\nCLARENCE B. LEE\nTreasurer\nDIRECTORS\nJOSEPH W. BURDEN\nALLEN W. EVARTS\nW. REDMOND CROSS\nARTHUR ROEDER\nDEAN S. EDMONDS\nHERMANN C. SCHWAB\nUNITED STATES RADIUM CORPORATION\nBALANCE SHEET AS AT DECEMBER 31, 1925\nASSETS\nCash in Banks and On Hand\n$ 62,030.03\nNotes, Accounts and Other Receiv-\nables\n52,503.70\nInventory\n203,476.28\n$318,010.01\nDeferred Charges\n1,872.85\nInvestment in Milling Ore Reserve\n126,830.00\nLand, Buildings, Mining Claims\nand Equipment\n$352,382.22\nLess Depreciation Reserve.\n214,093.93\n138,288.29\nSecret Process, Good Will, Patents, Etc.\n200,000.00\n$785,001.15\nLIABILITIES\nAccounts Payable\n$8,574.18\nPreferred Stock\n$400,000.00\nCommon Stock\n355,718.77\n755,718.77\nSurplus\n20,708.20\n$785,001.15\nTO THE STOCKHOLDERS\nOF UNITED STATES RADIUM CORPORATION:-\nDuring the year 1925, Radium was offered to doctors and hospitals in\ngenerous supply at the low market prices that had prevailed during the two\nyears preceding, and in some instances at lower rates. Even though the\nRadium market throughout the year was favorable to buyers, the total\ndistribution in the markets where the Company operates was not increased.\nThe total sales of Radium to physicians and hospitals in 1925 is estimated\nto have been less than the absorption by the same market in the year 1924.\nNo outstanding developments were accomplished in Radium therapeutic\ntechnique. Until some progress is made toward widening the utility of\nRadium in this field, it is unlikely that the demand will again become\nvigorous since in past years most of the important medical centers have\nacquired reasonable supplies of the Element. Radium continues to give off\nenergy for a great many years so that except for an occasional accidental\nloss, there is no replacement business. Your Company was successful in\nsecuring its share of this restricted business, but low sales prices coupled\nwith necessary selling and service expenses made this division of the busi-\nness unprofitable. Trading profits were more than offset by manufacturing\nlosses, SO that the year's operations show a shrinkage in surplus of $17,371.84\nafter all adjustments.\nBecause of an oversupply of Radium in the hands of the producers\nand distributors in the United States and Europe, production operations in\nthe Company's plant were discontinued early in the Fall. The Corporation's\nmines were idle during 1925, our ore requirements having been secured from\nother sources at advantageous rates. The production of Undark Radium\nLuminous Material and other commercial preparations was increased.\nConcentrated effort was maintained to expand the commercial use of\nRadium and to improve the Corporation's financial position. An analysis\nof sales shows an improved demand for Radium in commercial enterprise.\nThe sales for pharmaceutical preparations, radioactive drinking water\nmachines, and industrial purposes were increased. In addition luminous\nspecialties, house numbers, indicators, and other items, responded to selling\ncampaigns that were aggressively maintained.\nThe condensed balance sheet printed on the opposite page shows im-\nprovement in the Company's financial position compared with the published\nbalance sheet as at December 31, 1924. The notes payable to banks\ntotalling $100,000.00 outstanding December 31, 1924 were paid in 1925\nand through reduction of inventory and outstanding accounts a gain in cash\non hand was also made. The financial situation at the end of 1925 gives a\nratio between current assets and other receivables to current liabilities of\nbetter than 37 to 1, whereas the corresponding ratio at the end of 1924 was\nbetween 4 and 5 to 1. Disregarding inventory, the ratio as at December 31,\n1925 was over 13 to 1 and at December 31, 1924, a little better than 1 to 1.\nThe accounts of the Corporation have been audited by Messrs. Peat,\nMarwick, Mitchell & Co. of New York.\nYours truly,\nARTHUR ROEDER,\nPresident."
}