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TO THE STOCKHOLDERS
OF THE UNITED STATES RADIUM CORPORATION
The accompanying Balance Sheet shows the condition of the Corporation as of
December 31, 1937. On this Balance Sheet effect has been given to the retirement
of 2820 shares of Preferred Stock purchased under the plan referred to in our
report of last year. The amount expended for those shares was $176,853.35 or an
average of $62.71 per share. Late in December an additional 100 shares were
purchased and are now held in the Treasury of the Corporation subject to
retirement.
On December 16th, dividends amounting to $20,650 were paid on the 1180
shares of Preferred Stock then outstanding, at the rate of $17.50 per share.
Accumulated unpaid dividends on the Preferred Stock at December 31, 1937
amounted to $31.50 per share.
Sales volume for 1937 showed an increase of 28% over that of the preceding
year, and there was a net profit of $24,245.88 after taxes and other adjustments.
The increase in volume and resulting profit was due largely to business of a special
nature, most of which was booked in the latter half of the year.
Conditions prevailing so far in the current year have not been favorable.
Competition remains keen. There has been a gradual reduction of prices on a
shrinking volume of business from the watch and clock industry. Business received
from the aeronautical instrument builders has been maintained.
The Weksler Thermometer Corporation enjoyed an increase in volume of sales
over 1936 amounting to 24%. A number of new items were added to the line of
the Weksler company. The present outlook for that company is that the volume
of business for the year will be under that of last year unless general business
conditions improve considerably.
The books of the Corporation have been audited by Messrs. Peat, Marwick,
Mitchell & Co.
Very truly yours,
CLARENCE B. LEE,
President.
April 27, 1938.
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"ocrText": "TO THE STOCKHOLDERS\nOF THE UNITED STATES RADIUM CORPORATION\nThe accompanying Balance Sheet shows the condition of the Corporation as of\nDecember 31, 1937. On this Balance Sheet effect has been given to the retirement\nof 2820 shares of Preferred Stock purchased under the plan referred to in our\nreport of last year. The amount expended for those shares was $176,853.35 or an\naverage of $62.71 per share. Late in December an additional 100 shares were\npurchased and are now held in the Treasury of the Corporation subject to\nretirement.\nOn December 16th, dividends amounting to $20,650 were paid on the 1180\nshares of Preferred Stock then outstanding, at the rate of $17.50 per share.\nAccumulated unpaid dividends on the Preferred Stock at December 31, 1937\namounted to $31.50 per share.\nSales volume for 1937 showed an increase of 28% over that of the preceding\nyear, and there was a net profit of $24,245.88 after taxes and other adjustments.\nThe increase in volume and resulting profit was due largely to business of a special\nnature, most of which was booked in the latter half of the year.\nConditions prevailing so far in the current year have not been favorable.\nCompetition remains keen. There has been a gradual reduction of prices on a\nshrinking volume of business from the watch and clock industry. Business received\nfrom the aeronautical instrument builders has been maintained.\nThe Weksler Thermometer Corporation enjoyed an increase in volume of sales\nover 1936 amounting to 24%. A number of new items were added to the line of\nthe Weksler company. The present outlook for that company is that the volume\nof business for the year will be under that of last year unless general business\nconditions improve considerably.\nThe books of the Corporation have been audited by Messrs. Peat, Marwick,\nMitchell & Co.\nVery truly yours,\nCLARENCE B. LEE,\nPresident.\nApril 27, 1938."
}