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Dow Chemical Company Annual Report - 1935

Dow Chemical Company Annual Report - 1935

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Published by: fresno on Sep 29, 2007
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11/12/2011

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The Dow Chemical Company
Condensed Financial ReportMay 31,1935
 
To the Stockholders of the’ Dow ChemicalCompany :The Dow Chemical Company is pleasedto present herewith the following pages ofinformation concerning the financial statusof the Company. The earnings per shareof the outstanding stock are $3.32, aftermaking allowance for depreciation, incom.etax and the preferred stock dividends. Itis believed the information is clearly setforth and the explanations and commentsby the Auditors are also self-explanatory.Further comment here would only be arepetition. A more conclusive presentationof facts would be apparent by paying theCompany a visit. We cordially invite allstockholders to visit our home office andthe principal manufacturing plant at Mid-land, Michigan.Very truly yours,WILLARD H. DOW,President.July 10, 1935.
 
THE DOW CH
(IncorporaBALANCE S
ASSETS
CURRENT ASSETS :Cash . . . .. . . . . . . . . . . . . . . . . . . . . . . . . .$ 1,119,451.17United States Government securities-atcost (face value, $1,000,000.00; marketvalue, $1,066,625.00). . . . . . . . . . . . . .1,059,375.00Notes and accounts receivable (custom-ers’, $2,068,879.78; officers and em-ployees, $8,988.23; and sundry, $42,-293.49)~less reserve, $1053962.68 . . .2,014,198.82Inventories of finished goods, work inprocess, and materials and supplies-at cost. . . . . . . . . . . . . . . . . . . . . . . . . . .4,663,355.92Total current assets . . . . . . . . . . . . . . . . . . . . . . . .$ 8,856,380.91
CLAIMS AGAINSTBANKS
IN LIQVIDATION
(less reserve forloss, $35,000.00) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .35,492.84
RECEIVABLEROM NDIVIDUALSN SALESOF HOUSESANDLOTS
26,972.63
RECEIVABLE ROMSUBSIDI~Y COMPANIES . . . . . . . . . . . . . .
293,229.28
INVESTMENTS-AT COST
Subsidiary and affiliated companies (atcost, which is less than this company’sbook equity therein) . . . . . . . . . . . . . . .$ 604,277.OOCommon capital stock in treasury (7,286no par common shares) . . . . . . . . . . . . 314,958.11Miscellaneous securities. . . . . . . . . . . . . . 132,103.57Total investments . . . . . . . . . . . . . . . . . . . . . . . . . 1,051,338.68
FIXED ASSETS
Real estate, plarrts and equipment (less re-serves for depreciation, $9,416,563.25) $16,068,778.82Patents (less reserve for amortization,$5,350.02) . .. . . . . . . . . . . . . . . . . . . . . 19,407.18Good-will. . . . . . . . . . . . . . . . . . . . . . . . . .587,267.50Total fixed assets . . . . . . . . . . . . . . . . . . . . . . . . . . 16,675,453.50
DEFERRED HARGES-UNEXPIRED NSURANCE REMIUMS,UN-AMORTIZED OTE DISCOUNT,ETC. . . . . . . . . . . . . . . . . . . . .
143,400.13.
OTAL. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$27,082,267.97
NOTATIONS :Under an agreement providin,u for the formation of the CliffsDow Chemical Company, a partially owned subsidiary organizedin 1935, the company has agreed to purchase Class A preferredcapital stock of the subsidiary in amounts sufficient to providefunds for plant expansion and the need forfunds is determined by theto an extent not to exceedparties to the agreement trequired for this purpose, t1935 to 1937, inclusive).$75,000.00 requested by t

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