Total current assets. Total assets. $4, 988, 859.00 $3, 492, 319.00 $2, 930, 110.00 $2, 862, 020.00 $2, 739, 835.00 $2, 844, 087.00 $2, 677, 339.00 $2, 650, 134.00 $2, 833, 757.00 1, 549, 548.00 746, 606.00 12, 037, 706. 00 374,760.00 1,080, 057.00 4,674, 340.00 44, 792.00 1, 434, 947.00 772,932.00 996, 486.00 12, 311, 859.00 354, 597.00 916, 974.00 3, 511, 857.00 56, 314.00 852,494.00 2, 223, 785.00 24, 598, 238.00 24, 155, 429.00 24, 290, 099.00 22, 850, 616.00 21, 596, 871.00 19, 758, 875.00 20,047, 723.00 19, 935, 180.00 18, 637, 160.00 28, 510, 069. 00 26, 940, 291.00 26, 516, 406. 00 24, 801, 335. 00 23, 423, 123.00 22, 572, 658. 00 22, 101, 125. 00 21, 541, 641.00 20,387, 679.00 1 Includes leased machinery at stated value of $1. Effective Jan. 1, 1942, policy was initiated of stating leaf tobacco on "last-in, first-out" basis; other inventories, as heretofore, were stated at average cost. As result of change for year 1942. in policy, inventories as of Dec. 31, 1942, have been reduced by approximately $815,000 with corresponding reduction in net operating profit and approximately $215,000 in net income Funded debt.-None. CONDUIT NATIONAL CO., LTD. CAPITALIZATION Stock.-Common ($1 par), authorized and outstanding 160,800 shares. CORPORATE BACKGROUND Company manufactures rigid electric conduits, elbows, couplings, and tubing; and is the Canadian distributor for Wiremold raceway and fittings. Plants are owned in Toronto and Montreal. Incorporated in Ontario May 27, 1935, to take over business of Conduits Co.; Ltd., and National Conduit Co., Ltd. President.-Ross Clarke, Sr. Vice president.-Ross Clarke, Jr., M. W. Coulson Directors.-Ross Clarke, Sr., M. W. Coulson, Ross Clarke, Jr., H. V. Hearst, Annual meeting in January. STOCK DATA Stockholders January 21, 1949.-236. Transfer agent and registrar.-National Trust Co., Ltd., Toronto. Dividends (Canadian funds).-1937, initial of $0.25 paid November 1; 1938, $0.20; 1939, $0.30; 1940-48, $0.40; 1949, $0.50; February 9, 1950, $0.40. 1 Excludes $300,000 due within one year. Issued ($8,000,000) in July 1948, to Metropolitan Life Insurance Co., to repay short-term borrowings. CORPORATE BACKGROUND Company is the largest domestic producer of cigars. Its principal brands are the Robert Burns, produced in several sizes retailing at medium prices, and the lower priced White Owl, Wm. Penn and Van Dyck. The cheaper brands produce the greater volume of business, but the higher priced cigars yield the larger margin of profit. Distribution is effected on a nation-wide basis through jobbers and other selected outlets. Employees. December 31, 1949, 6,300. Subsidiary-General Cigar Co. of Cuba, Ltd., wholly owned. Property Company operates 10 factories and conditioning plants and 75 leaf tobacco warehouses, located in New Jersey, Pennsylvania, Connecticut, Ohio, Indiana, Massachusetts and Wisconsin. Manufacturing methods are highly mechanized. History Incorporated April 28, 1906, in New York, as United Cigar Manufacturers Co., and assumed its present title March 1, 1917. Charter is of perpetual duration. Adolphe Boissevain (director, Tide Water Associated Oil Co.), New York. Louis Dahl (district manager 1), Forty Fort, Pa. F. A. Greenhut (in charge tobacco purchasing), New York. Theodore Kaufmann. Joseph V. Kline (partner, Mudge, Stern, Williams & Tucker), New York. Julius Strauss (president), New York. Henry C. Von Elm (chairman, Manufacturers Trust Co.1), New York. J. E. Whitwell (vice president), New York. Offices. Main Office: 119 West Fortieth Street, New York 18, N. Y. Stock provisions STOCK DATA Seven percent preferred stock has preference over common as to cumulative dividends of $7 per annum, payable quarterly March 1, etc.; and in anv liquidation as to assets equal to $100 and dividends. Nonredeemable. Voting power: none, except on default of two successive quarterly dividends, in which case preferred has exclusive voting power, provided default is not due to certain exceptional circumstances. Restrictions: Preferred stock cannot be increased or mortgage created, other than purchase money mortgage, without consent of three-fourths of preferred stock. Capital change February 3, 1926, authorized common stock was changed from 250,000 shares, $100 par, to 500,000 shares, no par, and two new shares were issued in exchange for each old share held. Large stockholder As of February 1, 1950, Administratie-Kantoor Van Aandeelen In Vennootschappen En In Binnen-En Buitenlandsche Leeningen N. V. (Administration Office for Shares in Corporations and in Domestic and Foreign Loans, Inc.) owned 84,850 common shares, or 18 percent voting interest. 1 Also a director in other companies. |