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REPORT
United States Radium Corporation
December 31, 1940
OFFICERS
DEAN S. EDMONDS
Chairman
CLARENCE B. LEE
President
JOHN E. PAUL
Vice-President
G. CAMPBELL BECKET
Secretary
HERBERT A. WHITING
Treasurer
and Assistant Secretary
DIRECTORS
G. CAMPBELL BECKET
DELANO W. LADD
DEAN S. EDMONDS
CLARENCE B. LEE
E.B. FISHER
RAYMOND R. MACHLETT
JOHN E. PAUL
UNITED STATES RADIUM CORPORATION
BALANCE SHEET AS AT DECEMBER 31, 1940
ASSETS
Cash in Banks and on Hand
$84,809.19
Investments (Market Value $38,063.75)
at Cost
35,041.05
Notes, Accounts and other Receivables
(Less Reserves)
51,486.21
Inventories: at cost or market, whichever
is lower
75,222.35
Total Current Assets
$246,558.80
Investments in and Advances to Weksler
Thermometer Corp.
46,758.36
Prepaid Expenses
2,352.27
Investment in Idle Property and Plant
(completely leased)
28,360.67
Equipment, Furniture and Fixtures, Less
Depreciation
22,648.11
Good-will, Trade-marks, Patents
610.24
Deferred Charges, Leasehold Improve-
ments, etc.
6,084.15
$353,372.60
LIABILITIES
Accounts Payable and Accrued Expenses
$ 41,703.88
Provision for Federal Income Tax
63,000.00
Total Current Liabilities
$104,703.88
Preferred Stock
$ 50,000.00
Less: Amount held in Treasury
6,050.00
43,950.00
Common Stock Class "A"
$ 36,900.00
Less: Amount held in Treasury
225.00
36,675.00
Surplus:
Capital Surplus
$217,139.94
Deficit from Operations
49,096.22
168,043.72
$353,372.60
TO THE STOCKHOLDERS
OF UNITED STATES RADIUM CORPORATION
The operations of our Company for the year 1940 resulted in a profit of
$84,682.71. During the year the remainder of the dividends on the Preferred Stock
which had accrued up to the first of the year amounting to $15,382.50 were paid
off in full. Current dividends on the Preferred Stock for the year were also paid
in the amount of $6,153.00. With the deduction of these amounts from the year's
earnings, there remained $63,147.21 available for expansion of the production facili-
ties of the Company and dividends on the Common Stock.
There was a substantial increase in the volume of business during the year which
required considerable additions to the manufacturing plant and equipment. The
necessary expenditures for these additions were made, and in December a dividend
of $1.00 per share was paid to the Common Stockholders.
Toward the end of the year it was apparent that a further increase in the volume
of business of the Company was in prospect and arrangements were therefore made
for moving the Weksler Thermometer Corporation to other quarters so as to make
the space which it used available for further expansion of the business of the Company.
The Weksler Thermometer Corporation has now been moved to larger and more
suitable quarters at 52 West Houston Street and the space formerly used by it at
535 Pearl Street is now being equipped for further extension of radium work.
The operations of the Weksler Thermometer Corporation during the year were
in a somewhat increased volume and resulted in a profit of $7,633.24 after provision
for taxes and adjustments.
The financial condition of the Company is shown by the attached Balance Sheet
which has been audited by Certified Public Accountants.
Very truly yours,
CLARENCE B. LEE,
President.
April 3, 1941.
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"ocrText": "REPORT\nUnited States Radium Corporation\nDecember 31, 1940\nOFFICERS\nDEAN S. EDMONDS\nChairman\nCLARENCE B. LEE\nPresident\nJOHN E. PAUL\nVice-President\nG. CAMPBELL BECKET\nSecretary\nHERBERT A. WHITING\nTreasurer\nand Assistant Secretary\nDIRECTORS\nG. CAMPBELL BECKET\nDELANO W. LADD\nDEAN S. EDMONDS\nCLARENCE B. LEE\nE.B. FISHER\nRAYMOND R. MACHLETT\nJOHN E. PAUL\nUNITED STATES RADIUM CORPORATION\nBALANCE SHEET AS AT DECEMBER 31, 1940\nASSETS\nCash in Banks and on Hand\n$84,809.19\nInvestments (Market Value $38,063.75)\nat Cost\n35,041.05\nNotes, Accounts and other Receivables\n(Less Reserves)\n51,486.21\nInventories: at cost or market, whichever\nis lower\n75,222.35\nTotal Current Assets\n$246,558.80\nInvestments in and Advances to Weksler\nThermometer Corp.\n46,758.36\nPrepaid Expenses\n2,352.27\nInvestment in Idle Property and Plant\n(completely leased)\n28,360.67\nEquipment, Furniture and Fixtures, Less\nDepreciation\n22,648.11\nGood-will, Trade-marks, Patents\n610.24\nDeferred Charges, Leasehold Improve-\nments, etc.\n6,084.15\n$353,372.60\nLIABILITIES\nAccounts Payable and Accrued Expenses\n$ 41,703.88\nProvision for Federal Income Tax\n63,000.00\nTotal Current Liabilities\n$104,703.88\nPreferred Stock\n$ 50,000.00\nLess: Amount held in Treasury\n6,050.00\n43,950.00\nCommon Stock Class \"A\"\n$ 36,900.00\nLess: Amount held in Treasury\n225.00\n36,675.00\nSurplus:\nCapital Surplus\n$217,139.94\nDeficit from Operations\n49,096.22\n168,043.72\n$353,372.60\nTO THE STOCKHOLDERS\nOF UNITED STATES RADIUM CORPORATION\nThe operations of our Company for the year 1940 resulted in a profit of\n$84,682.71. During the year the remainder of the dividends on the Preferred Stock\nwhich had accrued up to the first of the year amounting to $15,382.50 were paid\noff in full. Current dividends on the Preferred Stock for the year were also paid\nin the amount of $6,153.00. With the deduction of these amounts from the year's\nearnings, there remained $63,147.21 available for expansion of the production facili-\nties of the Company and dividends on the Common Stock.\nThere was a substantial increase in the volume of business during the year which\nrequired considerable additions to the manufacturing plant and equipment. The\nnecessary expenditures for these additions were made, and in December a dividend\nof $1.00 per share was paid to the Common Stockholders.\nToward the end of the year it was apparent that a further increase in the volume\nof business of the Company was in prospect and arrangements were therefore made\nfor moving the Weksler Thermometer Corporation to other quarters so as to make\nthe space which it used available for further expansion of the business of the Company.\nThe Weksler Thermometer Corporation has now been moved to larger and more\nsuitable quarters at 52 West Houston Street and the space formerly used by it at\n535 Pearl Street is now being equipped for further extension of radium work.\nThe operations of the Weksler Thermometer Corporation during the year were\nin a somewhat increased volume and resulted in a profit of $7,633.24 after provision\nfor taxes and adjustments.\nThe financial condition of the Company is shown by the attached Balance Sheet\nwhich has been audited by Certified Public Accountants.\nVery truly yours,\nCLARENCE B. LEE,\nPresident.\nApril 3, 1941."
}