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COMMERCIAL CREDIT COMPANY AND SUBSIDIARY COMPANIES

Analysis of Debt Maturity

As of December 31, 1959

UNSECURED NOTES AND LOANS:

DUE WITHIN ONE YEAR:

Open market notes:

United States..

Canada...

Bank loans:

United States..

Canada.....

*Other notes and loans..

TOTAL DUE WITHIN ONE YEAR.

DUE SUBSEQUENT TO ONE YEAR:
United States:

34% Notes due June 15, 1961..

3 % Notes due Jan. 1, 1963. 32% Notes due June 1, 1965. 3.35% Notes due Jan. 15, 1968. 334% Notes due Nov. 1, 1969. 44 % Notes due Oct. 1, 1974. 3% % Notes due Feb. 1, 1976. 5 % Notes due June 1, 1977. 4% % Notes due Jan. 1, 1978. Canada:

42% Notes due Feb. 1, 1963

6 % Notes due July 1, 1979.

TOTAL DUE SUBSEQUENT TO ONE YEAR..

SUBORDINATED INDEBTEDNESS (United States):

Subordinated Long-Term Notes:

3.95% Notes due June 1, 1964.
3% % Notes due Nov. 1, 1966.
52% Notes due Sept. 1, 1972..
42% Notes due March 1, 1977.

Junior Subordinated Long-Term Notes:

3% % Notes due Sept. 15, 1969...

5% % Notes due May 1, 1984.

TOTAL SUBORDINATED INDEBTEDNESS..

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• Credit balances of manufacturing and selling agents, a liability of a wholly owned subsidiary, Textile Banking Company, Inc., the aut worth of which, plus $20 000 000 subordinated note was $35 392 301, all owned by Commercial Credit Company.

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Consolidaged

sidiaries, aber all chang

was $14,670,375 for the ye

$16,257,950 for 1958. The ma

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during the year. Of this m

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44.7%, was the result of mume dalam nang : during 1959. Operating comes, cus percentage of cash emplowed, tecemet year

Receivables outstanding at Decanter 3. 99 amounted to $1.70 134361 in rest of $382,378,646, or 28.6; e te ser at Retail receivables amouet L.FMJ = December 31, 1959, am nowe 17f, fr be year. This reflects the durs made us fumat financial assistance to more consumes Squficam is the wider penetration made a fe francing of new automobiles. Whereas the number of as registered in the United States was 25.25 pester for the first eleven mons of 99 amplere records for the year not being mulate at ins writing the number of new cars franced by the local offices of our finance subsidiaries acessed 44.1% during the same period. The new car vend by such receivables were distributed practically evenly among those manufactured by the Fond Motor Company, Chrysler Corporation and, as a group, all other manufacturers, including foreign. Retail farm equipment and personal icans again

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RECEIVABLES ACQUIRED

Motor retail..

$ 756 681 643

Farm equipment, mobile homes and other

retail....

Loan receivables..

Motor wholesale..

Open accounts, leases, other wholesale notes, mortgages and factoring receivables

Total.....

$4 181 273 489

1955, just four years ago, the average amount of the note was $1,502.67 with an average maturity of 21.8 payments.

The volume of wholesale receivables purchased during 1959 amounted to $1,547,267,919, compared with $1,105,596,313 in 1958. Wholesale outstandings amounted to $257,732,705, compared with $199,518,387 at the end of 1958. A good part of the increase was the result of substantial shipments made by the manufacturers of new automobiles in the month of December, after the termination of the steel strike. These receivables are primarily for the financing of dealers' new inventories, namely,

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1959

1958

S 553 129 161

291 485 431

205 271 573

216 384 173

1 315 331 558

154 641 630
904 515 368

1 601 390 684

1 406 929 123

$3 224 486 855

cars, farm equipment, appliances and mobile homes. The dollar amount of all losses, including retail automobile losses, decreased in 1959. Of the total instalment accounts and notes receivable at Decem ber 31, 1959, aggregating $1,187,018,287, there were $489,021 more than ninety days past due, the unpaid balance thereon being $2,171,247, of the total motor and other wholesale notes and advances, aggregating $257,732,705, the sum of $6,310,944 had been carried longer than ninety days beyond maturity. The maximum maturity of motor wholesale is st months from date of financing. The maturity of other wholesale varies and, in the case of farm equipment, may be one year from date of financing With respect to the factoring receivables, leases, notes and open account receivables, aggregating $269,313,962, the sum of $2,026,355 was more than ninety days past due without applying reserves available for certain of them.

Textile Banking Company had its most successful year, handling a volume of $601,291,843, which compares with $489,165,693 for 1958. Outstandings amounted to $126,521,591 at the year end, com pared with $92,390,597 at the same date in 1958. The volume of receivables acquired by the com mercial financing divisions of our finance subsidiaries amounted to $740,518,545, compared with $706,374,991 in 1958.

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MATURITY of RECEIVABLES versus SHORT TERM NOTES, as of December 31st

100

500

600 700

900 1000 1100 1:200 1300 1400 1500

1600

1700 1800

Receivables Due After One Year

Total Receivables

A new service with headquarters in Baltimore, but with facilities, strategically located, has been established recently for the purpose of furnishing financing and leasing services to users of industrial equipment on a specialized basis.

Due First Half 1960

Due Last Half 1960

Due First Half 1961

Due After June 30, '61

$248 882 979 $183 727 120 $131 639 380 $150 796 445

82 277 610 63 957 007 175 833 932

85 906 938 43.538 956

46 743 223 24 527 993

114 734 505

10 286 131

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1900

2000

Short Term Notes

Receivables Due Within One Year

Fleet leasing operations in the United States and Canada are currently being conducted through several subsidiaries. There were 19,041 passenger cars and trucks covered by these leasing operations at December 31, 1959.

MATURITY OF RECEIVABLES

Receivables
Outstanding
Dec. 31, 1959

Motor retail.

$ 715 045 924

Farm equipment, mobile homes and other retail

329 662 276

Loan receivables

142 310 087

Motor wholesale

175 833 932

Open accounts, leases, other wholesale notes, mortgages and factoring receivables.

351 212 736

1 714 064 955

Sundry accounts and notes receivable..

6 769 405

Total

$1 720 834 360

Percentage

100%

73326 0-61-pt. 2--58

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