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Memorandum, October 13, 1936

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MEMORANDUM RE-ORGANIZATION PLAN U.S. Radium Corp. October 13, 1936. At this time, the plan shapes up about as follows: 1. Pay $50.00 per share on each of the 4000 shares Preferred now outstanding. 2. Issue 1/2 share New $5.00 dividend non-cumulative Preferred for each share present Preferred. 3. In lieu of accumulated dividends on present Preferred, issue 1/2 share Common for each share Preferred. 4. Reduce present outstanding Common - by giving 1/5 share New Common for each of the now outstanding shares. 5. Stock picture then would be as follows: a. 2000 shares $5.00 dividend non-cumulative Preferred - callable or liquidation provision at $100.00 per share. b. 5000 shares Common - at nominal or no par value. 6. There are three suggestions regarding dividend participation: 8. After a $5.00 dividend on Preferred, all other earnings to go to Common. b. After a $6.00 dividend on Preferred, all other earnings to Common. C. After a $5.00 dividend on Preferred, the Common and Preferred to share and share alike. 7. A reduction in personnel more in line with the prospective volume and profits. 8. Estimated earnings and savings for dividend purposes:- a. Personnel Savings $8000.00 b. Rent from plant, etc. 2000.00 C. Dividends from Weksler 6000.00* d. Radium Operations, over savings, under 8. 5000.00** $21000.00 * Weksler profits to Radium, based on maintaining or increasing present volume of sales, at present margins of gross profit. ** Radium profits based on present volume and under present highly com- Page -2- petitive conditions. Any substantial strengthening of price or of both price and volume would greatly increase profits. Any further lowering of prices, or loss of volume, could easily eliminate all net profits. 9. While it is agreed that some plan for management to participate in earnings - either through stock purchase options or a percent of earnings over and above Preferred Dividends - is desirable - nothing of a definite nature has been proposed. 10. The only real obstacle to proposing the plan at once is the uncertainty surrounding 100 shares of the old Preferred Stock owned by a Mr. Seager or his estate. Mr. Becket has this in mind and may advise proceeding without the consent of Mr. Senger. MEMORANDUM RE-ORGANIZATION PLAN U.S. Radium Corp. October 13, 1936. At this time, the plan shapes up about as follows: 1. Pay $50.00 per share on each of the 4000 shares Preferred now outstanding. 2. Issue 1/2 share New $5.00 dividend non-cumulative Preferred for each share present Preferred. 3. In lieu of accumulated dividends on present Preferred, issue 1/2 share Common for each share Preferred. 4. Reduce present outstanding Common - by giving 1/5 share New Common for each of the now outstanding shares. 5. Stock picture then would be as follows: 8. 2000 shares $5.00 dividend non-cumulative Preferred - callable or liquidation provision at $100.00 por share. b. 5000 shares Common - at nominal or no par value. 6. There are three suggestions regarding divident participation: 8. After a $5.00 dividend on Preferred, all other earnings to go to Common. b. After a $6.00 dividend on Preferred, all other earnings to Common. C. After a $5.00 dividend on Preferred, the Common and Preferred to share and share alike. 7. A reduction in personnel more in line with the prospective volume and profits. 8. Estimated earnings and savings for dividend purposest- a. Personnel Savings $8000.00 b. Rent from plant, etc. 2000.00 C. Dividends from Weksler 6000.00* d. Radium Operations, over savings, under 8. 5000.00** $21000.00 * Weksler profits to Radium, based on maintaining or increasing present volume of sales, at present margins of gross profit. ** Radium profits based on present volume and under present highly com- Page -2- conditions. Any substantial strengthening of price further or of petitive and volume would greatly increase profits. Any all both lowering price of prices, or loss of volume, could easily eliminate net profits. While it is agreed that some plan for management to 9. in earnings - either through stock purchase options is desirable or a participate percent of earnings over and above Preferred Dividends - - nothing of a definite nature has been proposed. The only real obstacle to proposing the plan at Stock once is owned the by a Mr. Seager or his estate. Mr. Becket has this in and uncertainty 10. surrounding 100 shares of the old Preferred mind may advise proceeding without the consent of Mr. Seager.

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    "ocrText": "MEMORANDUM RE-ORGANIZATION PLAN\nU.S. Radium Corp.\nOctober 13, 1936.\nAt this time, the plan shapes up about as follows:\n1. Pay $50.00 per share on each of the 4000 shares\nPreferred now outstanding.\n2.\nIssue 1/2 share New $5.00 dividend non-cumulative\nPreferred for each share present Preferred.\n3. In lieu of accumulated dividends on present Preferred,\nissue 1/2 share Common for each share Preferred.\n4. Reduce present outstanding Common - by giving 1/5 share\nNew Common for each of the now outstanding shares.\n5.\nStock picture then would be as follows:\na. 2000 shares $5.00 dividend non-cumulative Preferred -\ncallable or liquidation provision at $100.00 per share.\nb. 5000 shares Common - at nominal or no par value.\n6. There are three suggestions regarding dividend participation:\n8. After a $5.00 dividend on Preferred, all other earnings\nto go to Common.\nb. After a $6.00 dividend on Preferred, all other earnings\nto Common.\nC. After a $5.00 dividend on Preferred, the Common and\nPreferred to share and share alike.\n7. A reduction in personnel more in line with the prospective\nvolume and profits.\n8.\nEstimated earnings and savings for dividend purposes:-\na. Personnel Savings\n$8000.00\nb. Rent from plant, etc.\n2000.00\nC. Dividends from Weksler\n6000.00*\nd. Radium Operations, over savings,\nunder 8.\n5000.00**\n$21000.00\n* Weksler profits to Radium, based on maintaining or increasing present\nvolume of sales, at present margins of gross profit.\n** Radium profits based on present volume and under present highly com-\nPage -2-\npetitive conditions. Any substantial strengthening of price or of\nboth price and volume would greatly increase profits. Any further\nlowering of prices, or loss of volume, could easily eliminate all net\nprofits.\n9. While it is agreed that some plan for management to\nparticipate in earnings - either through stock purchase options or a\npercent of earnings over and above Preferred Dividends - is desirable -\nnothing of a definite nature has been proposed.\n10. The only real obstacle to proposing the plan at once\nis the uncertainty surrounding 100 shares of the old Preferred Stock\nowned by a Mr. Seager or his estate. Mr. Becket has this in mind and\nmay advise proceeding without the consent of Mr. Senger.\nMEMORANDUM RE-ORGANIZATION PLAN\nU.S. Radium Corp.\nOctober 13, 1936.\nAt this time, the plan shapes up about as follows:\n1. Pay $50.00 per share on each of the 4000 shares\nPreferred now outstanding.\n2. Issue 1/2 share New $5.00 dividend non-cumulative\nPreferred for each share present Preferred.\n3. In lieu of accumulated dividends on present Preferred,\nissue 1/2 share Common for each share Preferred.\n4. Reduce present outstanding Common - by giving 1/5 share\nNew Common for each of the now outstanding shares.\n5. Stock picture then would be as follows:\n8. 2000 shares $5.00 dividend non-cumulative Preferred -\ncallable or liquidation provision at $100.00 por share.\nb. 5000 shares Common - at nominal or no par value.\n6. There are three suggestions regarding divident participation:\n8. After a $5.00 dividend on Preferred, all other earnings\nto go to Common.\nb. After a $6.00 dividend on Preferred, all other earnings\nto Common.\nC. After a $5.00 dividend on Preferred, the Common and\nPreferred to share and share alike.\n7. A reduction in personnel more in line with the prospective\nvolume and profits.\n8. Estimated earnings and savings for dividend purposest-\na. Personnel Savings\n$8000.00\nb. Rent from plant, etc.\n2000.00\nC. Dividends from Weksler\n6000.00*\nd. Radium Operations, over savings,\nunder 8.\n5000.00**\n$21000.00\n* Weksler profits to Radium, based on maintaining or increasing present\nvolume of sales, at present margins of gross profit.\n** Radium profits based on present volume and under present highly com-\nPage -2-\nconditions. Any substantial strengthening of price further or of\npetitive and volume would greatly increase profits. Any all\nboth lowering price of prices, or loss of volume, could easily eliminate net\nprofits.\nWhile it is agreed that some plan for management to\n9. in earnings - either through stock purchase options is desirable or a\nparticipate percent of earnings over and above Preferred Dividends - -\nnothing of a definite nature has been proposed.\nThe only real obstacle to proposing the plan at Stock once\nis owned the by a Mr. Seager or his estate. Mr. Becket has this in and\nuncertainty 10. surrounding 100 shares of the old Preferred mind\nmay advise proceeding without the consent of Mr. Seager."
}