Tobacco Documents Online

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"4 " t' "; " O "~ :~. ' ~ " 4 f . ~ ~' i -,/ 2,• • • • • INDEX ~IS CAL STATEMENTS DECE~J3~ 31, 1911. ~9~. Accounts & Bills Payable, 94 ~" • - " " " Receivable, 93 • [ --~. [ Auto~ Fine OUt Packing ILachine Construction Account, 156 "~ Auto.'Granulated Tobacco Packing Machine Construction Acct. 1S8 Auto. Scrap Tobacco Packing Machine Construction Account, 153 ..... . 'Auto. elghlng Machine Construction Account, ' 152 ~ :~ :'Adjustment on Cigar Cuttings, 322. 1 Bills Receivable, Cash Account, 90 Certificates of Deposit, I16 --~ Commission on Leaf Sales, 287 " " Material Sold, 288 " " Goods Sold for Other Companies, 290 • " " " Bonsack ~/achlnes Sold, ~21 !61 - J Cigarette Foil Packing Machine Construction Account, " Pouch Kachine Experimental Account, L-" Department Profits Comparative, 44 ~Depreciation in Securities, 312 Dividends Receivable, 131 " & Interest in Susperme, 130 " " " on Securities, 228 " Continental Tob. Co. Unclaimed, 109 " (Old) The .~merican Tobacco Co. Unclaimed, llO " Adjustment ~e American Tob. Co. Preferred Stock, 1!5 Damaged Goods Expenses, 180 Doubtful Bills Receivable, 328 Export Profits Advanced, 240 " :~ !:q~i;:!~ 4" '~ .&; L, , .-~. ~ ~'..~ , i i 1 RT;' OI 024.9286

4 -2- ~~-~:.-~[~-~.~ Financial Statement, General ' ,• J " - - m • --~i~ ~ " ~- :', ~' , " Recapitulation, li ? '-:..-Fire Loss, Elias Building, New York City, ;.~ . Factory Machlne Charts, - Factory Inspection Bureau Distribution, [-~ . - - . ~i'~':~: " : Goodw-ili, Patents, Trademarks, etc • [ '; General Office Expense Fund, ~;'i/-.R.'u~,C. Glenn:Note & Interest, ~-~-" ~-.Gove~ent Drawback on Export Goods, ~S~ :i~QGuaranty Trust Company (Letter) i [ ~i,;.\.~Horses,. Wagons, etc. 3 - " : ~ Income Comparative, -_'~ ." . " Analys is, ~"? Insurance .in Suspense, --- . " - Reserve, /~~.~_ ~ -Interest, Exchange & Discount, ~: • 5 ~ Interest Receivable, ~ ~'. :..~, ;'-- ~. "_ P~yable, ,. : on Leaf, ~:'~ .... _. : . * ~ Real Estate & Buildings, ~ .~}: . :. _ .: ~ashlnery & Fixtures .... Tin, . .:';~:-: - " Adjustment on Consolidated Tobacco Co. Bonds converted into Preferred Stock, • on Consolidated Tobacco Co. Bonds Unclaimed, Items Prior to 1909, 45 61 182 315 319 65 262 177 313 334 142 59 2 • . 183- 184 : -. '~. 263 ~- - 97 ~:~.. 244 245 - 2- 255 : L., ": 258 ]-15 114 326 024..928 2

:~j ~(" ~ .L~ ,., ~ • (i '" P v • .~X.~I -2- (, i ~ -;" Financ ial~St atement,. General I..~! .... . " J. " :'. ; ~ Recapitulation, ~'~: ~Fire Loss, Elias. B~ilding, New York City, I~' ! :Factory Machine Charts, -~:., ~ Factory Inspection Bureau Distribution, " " ...... e ' . ~Geodwill,- Patents, TrademarkS, to. I.'-,. " General Office Expense Fund, ~i~!~: .R..~-,CJ~Glenn-NOte & Interest, ~<~-~ GoTer~ent Drawback on Export Goods, - ~-~ {~,.iG~aranty .T .rust Company (Letter) ~.~ :;,-:;. ~;Horses j,agons ~ etc. t ~ ~ Income Comparatlve, > -~ - ~ - " Analysis, i~i~'~._ ::/I~urance ~In Sua pens e, ::~/'~::~::::~:..~ ilnterest, Exchange & Discount, C;C~.D.~-~ laterest Rec.e%vable, ~.~ . Payable, :"~,-~ ~ ..... ~' ~ "" " Real Estate & Bulildin~s, --"~- ".-'~S/'~i';. ."" : ~" !:.: "Machinery & Fix?urea, !~ .. ~:, = Adjustment on Consolidated Tobacco Co. Bonds .'~ converted into Preferred Stock, --~/ -~ ./ : ~ on Consolidated Tobacco Co. Bonds Unclaimed, Items Prior to 1909, 45 61 182 ~15 319 65 262 177 313 334 142 184, .~ 263 ~ ... ~.~ 244: " - ,::'~. 245 -:. _;;: 255 ~ -~;:. ~ 2 5 8 i~ ~" : ~,'~ ~'~ 113" 114 ~- ' 326 r; 01 024:9288

.... , i ,. r r } " ? -i L / -3- f - • _i > Leaf D~tment ~o~Its, , Trial Balance, • " Analysis of Profit & Loss, • " " Accounts, Lent, Frank deforest Lose Dismantling Duke Construction Department, • Little Cigar Factories, "/-on Bonds City of New York, aa~ch:L~ery &u Fixtures, • Stored at Jersey City Warehouse, " • • " Roller ~ill Works, Miscellaneous Profits, Mouthpiece Nachlnes & Crimpers at Jersey City Warehouse, Office Furniture & Fixtures, Office Furniture Fund, Obsolete Machinery Fund, • Material • 01d Construction Department Kachinery at A. ~. & .~. Co. Oval Cigarette Nachlne Construction & Experimental Account, .... .... Pacific Bank of San Francisco, i "" Profit on Tins Sold, w i ' Goods ~m~ufactured for Other Companies, " • Certificates of Indebtedness, Stan. Tob. Stem. Co. • -Prov. for Depreciation in Securities, ' " " Mouthpiece ~achlnee & Crimpers at J. C. Warehouse, • • Discount, " " Special AlloTances, • • • Employes ' Bounty, • " Cigarette Royal,y, • • • Butler & Bosher Machinery on Storage, • " Dies at Tin Department, • • New Fixtures, :: " " Commission on Drawback Claims, 4'r " " Taxes, • " • U. S. Government Corporation Tax, • " Salesmen' s Percentage, " " N. J. Kachine Co. Expenses, • • Reynolds Tobacco Co. Royalty, 242 132 133 134 176 323 324 325 136 143 150 291 146 139 141 2O6 216 148 164 ~0 259 226 320 88- 147- !87 - 189. 194- 201"~ 203- 204 ; 205~ 179 • 191 193 197 199 2OO .s~.,/' . : '~'. ..:~.-. .... .,-,:" • ;.." ...,,. ,/. ~T,,~07 @24-q~8q...., .

n~ t ~( L ! -4- r , t 1 i ~ .~,;~ki %" jj ~eal Estate & Buildings, m m . , Addit ions, • m , Depreciation Fund, Rotary Cork Tipping M~chine Construction Account, Rent General & New York Offices, Reorganization Expenses, Surplus, Analysia Stock in Other Companies, Standard Cl&-a~rette Machine Construction Account, Standard Tobacco Stem~ng Machine Construction Account, • t Packing " " " . Cork Tipping Machine Construction Account, Stocks for Distribution to Common Stockholders, Securities for future disposition Under Order of Court, Sundry/Old Provis ion Ac counts, Supply- Department, Standard Foil Packer Adjustment, Stemmery Building Contract, Standard Tobacco Stemming Machine Parts Destroyed, Trial Balance, General Books Preliminary, " " " Final, • " New York Office, Treasurer' s Report to Stockholders, . : Statement of Receipts & Disbursements, Tradem~rk & Patent Expenses, Tools, Jigs, etc. at American Machine & Foundry Co. Traffic Department, Transfer Expenses Stocks & Bonds, Unused Check~, " (01d) The American Tobacco Co. " Continental Tobacco Co. U. S. Government Drawback Claims, Unclaimed wages, " Tobacco, Vacant Property Expense, Virginia Safe Deposit & Trust Corporation) Buckiz~gham Branch) Williams Little Cigar Machine,Construction Account, [ :- : [~ : . "~'~ ,.i!'~'" • "/ - 68 75 82 151 3OO 307 59 84, 166 171 172 169 85 87 185~ 299 316 317 318 14 293 149 298 3O6 104 107 I08 178 102 98 - , 302 333 174 P3T;,ffO7 024.9290

,) '~ [,,, S~ , ~ ~ : , • . I ! \,/I • \ The American Tobacco Co. ~.- i I i: .. F i. i l ANNUAL REPORT. 7iscal Year Ended December 3~st. ~QH. RT;,ffO; 02~t.g2.q. Y

"'t 2K r-...) %1~,1 F.j F.j The sales for the year amuu.ted t~ $1o[,943.189.a2, and the net earrfings therefrolll, after dedudlug all charges a.d CXl)cnses for management, etc.. were ................................................ $ z.l,964,3o4.32 being about 14;I,~ per com. on the sales. Dividc.ds from Compandcs. all of whose ~t.clc i~ ow.cd by this Company,(i,..hMiug P. Loritlard Co, a small por- tion of the Preferred Slock of which i~ nut owned by Ibis Company) ................................... 7,548,92357. Dividemls from Compa.lcs c.gaged in llle IllilllllfaClllrL" alld sale of Smoki.g or Chewing Tobacco .~ Cigarettes (a pail of whose stock is owned by this C'ui*lj)a,ly) ....... 88.7,952.oo ' Divideuds from Compa.ics c.gaged iu the m;mufa~'tulc and sate of Guutf, (Tig~,rs m" Sulwlics, aml Comimnies c.- gaged in dis{libutiug Tobacco lqoduc~s {a pazt of whose stock is o~Ncd by tiffs C,,ml,auy) .................... 2,986.5ox,5o • I)ivldemls horn I:.h.ig,i C.mpa.ics ..................... 4,(:~8,63o.oi- |uterest on F;umls, l.oans, ])eposils, etc., Ncl .............. 4,1o7,37a.59 h,o.ne from sumhy other somces ..................... __716.38_8.8o $35,9oo,o72.79 l)cdl¢cl.'-- Ih,:mium ~., 6 p~: *c.r. (;-hi ll, mds *,1 d,is {'ompauy of Ihc p;u viduc ,~f ~ 1(,5 15o t~ l,mLh.~.,c,I ;rod calucllcd as 3cquhcd by 'l~ust Jndcmmc .................. ~.I,(;74..~6 Ded.ct :-- $35'865"158"53 Interest for the year otl $52,B82,{i5o.I)~) 6 per cent. ]lun, ls InliMainlhig l)cc. 3iM, 191 [ .............................. ~; I, 172',{J5') < Ri hlleresl o~l ~ilG~ .tS~Lol) b pet ceut. Ii~.ld~ Inlrchiiscd aim cat[called ............. ~,Ddl,~ll Iutl..resl lot lira yc'al Oil :lLql,35.1,1oK)c~J .t per cent. llonds oulsialiding Dee, 31M, "4A *q.t 19ii .............................. 2,oq.I IGl+X3 I"~ t% 4 (~llailcily i)ividcmls iJ;] per cent. c;Kh "~ ~ on Preferted Si,,ck .................. I #-' i ,:H 6too ~53L49o.fg42 Net, applicable to Surplus Acc<m.t ...................... I15.9! 1,967,73 S.rphis as per staten[era 1)ce. 31st, 15q<) .................. . 61,I!_9~99[.63 i~ 'I~ $87,03 ,959.36 ",lA .~t.l DcduH: .... , A <4 '~ l)ividcmls of ~t)', per cent. ca<h a,.l l'{×t~a l ~ Dividends of 15 per ct:nl ..... C ............ 5t,~ck ........ 8zO48,480._O() ,,~ '.,. $78,983,..17% 36 . l'iovision for I,reuihuu (,1, 6 pet t'ciil, Ih)nds to be ~G~ retired less di ......... t (ill 'I ],CI" CCitt. l]<liitl~ IU i ..... tile<[____4_,~61_,_l_8_3_.~ $74,72a,296.36 Ded.cl.'-- Iiook value c,[ sell[ally stocks oldt:ll>,J I,y (~'Uillt 1o be di~liibutcd to ('~)mmou Slt8"ld.~Met:; .............. 34,6a7,248.57 S..i,h,s Dee. 3~st. ~,n~ ................................ $4o.o9~.___ ,o47-79 'l'i~e Capital Stock of lhc C/nnlJally, its outslanding liomls, aud tile aver:lge duriilg Ihc )'car ~f [is ~lllpJlls ilggl-t:g;ilclt .~289,737,13o 66 and tli¢ Net fliCOnlc of the )car ;is abiJve was ~135,8(,5,.158.53 I)elilg lihollt l lJ~ ttcr {¢i1[. Ihcl ¢Oli. The llalance ~lieel i~ herewith submilted. d. M. \V. lllt'l(.q, 7"reusurer. ...... %? , • The American Tobacco Company. FINANCIAL ~% "/.'~-X.'F I£ N'I 1C N T" I~lliCI[lllllllR 315t~ 19II, ASSETS: Real Estate, Madllnery, Fixtures, ere ...... $5,3&~,354.62 Leaf Tobacco, lt, tanufactured Stock, Oiler- aling Supplies, etc ................... 22,$43,535.64 Stocks and Bomls ....................... 3a,gv::,>:9 43 Cash .................................. 27,,t6.b9,)3 63 Ilills aim Accounts Receivable ............ 14,75.5,, S4.o3 l;rands, Trade Marks, Palelfls, G<>od Wi!I, tic. 45,oe(,,e-'4 ~ Securities which Ihe Court has oldeled lhis Conllmny to dispose of before Jamlary ISL, 19l5 ........................... I-l,O'>I ,.~9"4 03 lion(Is ;uid Stocks of Liggett & M)'ers To- bacco Co,, and P, Lorilhu-d Co. (as to tills hem refereuee is Illiide tO slaiviilelit on I.ccedlng I)ages) ................. z 1,5,9,~',,15_o:.[~- 'l'ot ;ll Assets ................... $:82,90£o66.a7 LIABILITIES : Capital Stock--Prcfcned ................ $78,(~)j~o.oo COLIIIliOli ................. 40,2.i 2 ,.~t)CI.OO 6 per cen[. Gohl Bonds ................... 5e,8,'%>/,5o oo 't l'or ceut. (;old llomls and ieiiiainhl}{ -i per cent. (hlhl Jton(l~ of Ci,ns,,lb!alcd To- I)acct) Cu. not yet exehallge~l .......... 51,35 I,llrC,.oo ['ruvlsJon for prelnJlllll Oil 6 l,cr Cellt. ]ttJiids to be retired, less discount Otl 4 p,.:r cent+ Bomls to he retired .................. 4,~6L:S3.oo " Provision for dlvldeud on Pre- ferred Stock, for quarter ending Dec. 3isl, z91 ~, pay- able Jan. 2rid, 1912 ........ S,,iSo,a36.So Amoulit ,.lepo~;iled Dec. 3olh with Stockho'kler~' C,,m,uittee .............. 7<!5,8o5-5o $.17-b53 t.oo Acciued inlercst ou (i per ceilt. lit)ndG payable Apiil l~t, ]912 ................... 793,239.75 Acciued iuterest on 4 per cent. lJonds, liayabie 1;cb. ] st, 19i:z ................... ~S S,{r!J~G7 .....2, 123,67 a-4°" f l'rovisions fui Collilil iSSJoil S Allowalxccs, Advcrtisi.g +" l;mids, etc .............. $3,553,36I 4I Accouuts and l:lills Payable, in- cludl.g amounts due to Conll,;ini¢.~ hi "~vhich this t.',m,lm,~y holds stuck ..... 9,7!),}/551.65 _I_3,7-!~,9I,~ Total l.iabilitles ................. ' $242,9oo,oz8.48 s,,, pi ........................................ = ~o.~5.o~7.7g

:3b ""-I ......k ¢-.. r-.z~ :-.0 fJj I I .... J,,:asEv CH~', N. J., March 13th, 1912. The Trea~uree'~ Repoet to th~ ~toc~holdars ot Thn Rmerican Tobacco Compan] of New Jer$ey. The Trcasu,er re',l.'~tf,,lly :,el,roll:, the f-lh~wi.g lh~a,tckd ,epo, I ,:,f your Compa,,y, flu the yea, c,.Icd lJcccml,er 3t~t, {9jL As ,eq,d,ed by Ihc TJ,,~L h.lc,m,rc thc,c was ,lcposilcd with Guarauly Trust Co,,,pa,,y, Trustee. i,, Ja,,.ary. iUl{, the ~um o[ $Sc.x).~.oo to bc expended by said q-'ru~,tce iu the 1m, chase lot+ ca,,cellatiou of 6 per cent. Goh{ I{onds of this Compauy ,,po,l the terms spccilicd it, sai, I 'l',ltst ]ndetdurc, and Bonds o[ the par vah,c of $165,35¢.,¢-.,o have bcc,~ so jllt,ch;Ised and eancelle,1, the cost of sa,nc hci,~g $.lg~j.gGI.e6. The dilfc,c,me bdwetn par value a.d cost of the ]|uIt,h ~.ll ptuch;lsc, I has I,cc. xv,lth:~ ott i,s ;ill cxptrliSC. This :~tatcmcnt does u,~t iuc]udc this O,ml,:my's ~,h;ue of Ihe mldlvidtd ~¢t profits of Coml,auics iu which it h,,hl::, ~l¢~,.k, which lhcy have deemed advisable not to dcchlrt ;t:, ,lividcmls. By a decree of Ihe Ciacult Corot of the Uuilcd .<,talcs for the Somher~l District ot New York, made aud enttrtd on Novtmber IGth, ,gII, in the ,case of United States ¢J[ America ~:a'. The America. Tubacto Company aud others, a diziutegratiou of this (._'onlpan), and cmtah, other of the defendants therein was ordered, itlld, iu carrying out the dccl¢:c i~[ the (..'otxtt, the fullowiug, affecting the financial comlitions of thi~ (2ompauy, has bccu accomldi~ht:d up to March IS.t, 1912. 'J'wo new compauics were orgauizcd, IAggett & Myers Tobacco Company and P. lx~rillard Coral,any, and The America,~ Tc.Rlaceo Company conveyed to thc~c companies lC~l,.:ctiv,.:ly, certaiu factorie:i, lilaulal, brattds and husines~,cs, ;llld the cat,Jill ~tt;,c k..+ *.if tobacco lna~lufactuiil~g corporatiuns, of tilt aggtcg.tte value uf ~115,(K.W),IS(LI-)O .Ltlld itctivtd ill pay- ment Iht,eft~r I'l*.ltll the two c.mp:~uits Ihcir 7 I'el tout. b~md~, 5 per ceut. bonds~ 7 per cent. cumulative prcfc,~td stock and c~muuot~ stock of the par value iti the aggregate of ~lI5,t×x~,lSO:Jo. As Ihe~,e twu ucw companies COmllletlced btlsiness December Ist, 191I, and since tha~ t[nle have been scHiug the various brands of tobacto, etc., purchased by them, the sales of this Company for the month of December, I9tr, have necessarily decreased as compared with December, 19m. Under said decree certain stocks have been dlsl~ib~ted to com:~l~p+ sto~khohlcrs of record at the close of busiuess on ])cCcmbcr Is',, i~)i 1. Although this distribution had not been actually completed by Jammry ~s1, ~91~, the directors of the Compmly, p,.lrsuat~t to the decree of she Ccc:L had, prieJr to that date, directed the distribution, and it l~ad been accc,m- pli>hcd i,, part. It has since bee,, fully accomplished. This report s],(.~s Ihc fi,m,,cial condition of the Compa,~y as if such ,.Ii~t*il,utio,~ had I)ccn completed prior to Ja,,,,ary lsl, 1912. All of the stocks ;m,I l,m.ls of the two new europa,des received by this C~mtlmny were placed wilh (zua, a,,ty Trust Compauy which was, by the decree, made tile agency for tra,~sfcr, and up to Match 1st, 19~2, it had dislmsed of all of the common stocks for cash; it had acquittd for ca,=ce!- lation and retirement, partly for cash ;rod partly for holds of Liggett & I',lyer~ Tobacco Compa.y aud I'. Lo, illard Company as provided in the decree, 6 per cent. bonds and .t per ce~t bomls of this Ctnt~,~auy, a~ Io]]ow5: 6% llo,uls ...................... $48,,173,85o-oo • t5:~' ]kinds ...................... 46,47{,::5o.°o It ll;u{ also acqui,cd for c:ulcclla!i~,,~ :rod ~cti:,,lc~! in exehauge (c,r Ihtfe,rcd ~lt~:k of f.iggctt & ]Uytrs 'l'ob:~cc~ Cutup:m>' and 1'. [.ori{lard Company, as l,rovided i,~ the decree, 6 per cent. Prefextcd Stock of this Company ;uuouuli,,g to $:a4,ZS--q,gtx~.c*). The decree made provisim~ for the ,ctitcmeut withiH three years of all tile 6 per cent. bonds amountiug to .$52,~382,650.oO, all of the 4 per cent. ~),oi'.ds (including the outstanding 4 per cent. I:~unds of C,.m>~!idztted Tobacco ('c~mpauy) anlounti,,g to ~5~,354,~ca9o~3 and $26,229,7c~o,*~ being one-ttArd of the $78,689,xoo.oo 6 per ccut. ]'acfca,cd :';t<ck of lhe ,.7,.mpany; alth,,ugh such retiremeul did not begin until alter j:tl~t!ary IS[, 1,;1.2', it had, up to Maich 1st, hccii accomplished except :c> t,~-- 6% llonds ....................... $4.4c-'S.8 ~o ''o .t% Bonds ....................... 4,&q-'. 8.~cJoo 6% P, efei~cd Stc×'k .............. x,S4~)",~ooo It should l,t remembered 1hat t!,i-, czchaugc of ~ :trities has takt:~ place after Jauualy ISt, 19121 whilt t!tc alalcnient of J:~,t:!s and Liabilities :it Ihe eild of this ,cpolt, shmvs, of omu :c, tile co,/ditio,~ Dcctmber 31st, 19tI. 3 1 4 ,I I 1