Norwich bulletin., 1913-03-12
THERMOS SALES S594, 485.8IFORI9I2
Earnings Increased From $4848O617 n 1911 to $686,- 1sO24 in 1912-Is 4154 Per Cent.-Nst Income Gain Was 3767 Per Cent.-Impossible to Keep Up to Orders For the Past Year

any excess not actually required for the business will be paid to the share holders in the shape of extra divi- | dends.
 The excellent financial condition of your company at this date is evidenced by the fact that the only outstanding obligations of the company at the close of business Dec. 31. 1912, were for December purchases not due for By order of the Board, WILLIAM B. WALKER, President. PATRICK FRANCIS MURPHY, Treasurer.
 Liabilities. Capital stock: American Thermos Bottle company of Maine, S1,000,000 American Thermos Bottle company of New York, $50,00o. Total capital stock $1,o5o.ooo. Reserve account, sS,ooo; ae- counts payable, $44,004.02; total liabili- ties. s1,1O2. e04.02.
 Profit and loss, surplus: Credit bal anee Jan. 1. 1912, 57,927.51; add net profit from operation for the year, $110,e05.61 total credits, $567, ,933.12 Deduct dividend paid Maine company S20, 900; leaving credits of $347.933.12. Total $1,449, ,937.14.
 Earnings independent of merchand- ise sales carried as contingent assets :: Value of $50.1 capital stock Thermos Bottle Go. Ltd, of Canada at 50 per cent. s25 5.G50; value of bonus contract Norwich Industrial Improvement cor corporation. s75.o00; total $1oe,o50.
 Officers Elected.
 The officers of the company elected at the last annual meeting follow:
 President-Wiliiam S. Walker.
 Vice President-John F1anigan.
 Treasurer-Patrick Francis Murphy.
 Secretary-Frederic W. Cary.
 Board of Directors-Lewis B. Cur tis Curtis & Curtis Co, Bridgeport Fl Pap ma n a i- rector Mark Cross Ltd. Walsa1l, Eng land Lyman F. Gordon. Wyman & Gordon Co, Worcester. Mass; 10. r. Bennett, superintendent Royal Wor- Henry D. BuItman, president Consoli- dated Dental Mfg. Co, New York; ]; William J. Lowrie. Sugar Refineries & Plantations, Brooklyn, N. Y; E. c Fire Ins. Co.,. New York; Isaac Bass ford, real estate, New York; William B. Morrison, treasurer International Sales Co., New York: Patrick Francis Murphy, president Mark Cross Co., president Cresstec Steel Co.,, New York; John F1anigan, president Adams Flanigan Department Store, New York; William B. Walker, presi~ dent American Thermos Bottle Co: treasurer Cresstec Steel Co, New York
 Executive Committee = William B. Walker. chairman, Patrick Francis Murphy, Henry D. Bultman-
 General Balance Sheet.
 The combined general balance sheet as at the close of business Dec. 31, 1912, shows the following:
 Assets.
 Patents and patent rights. $1.002.- 500; machinery and fixtures, $44.303: building under construction (Norwich1. s27777.32; machinery and fixtures (Norwich), s1S,6o5.3o. Inventories Materials and supplies, $51,3e4.09; goods in process of manufacture, S16,-. 74ee9: finished nroduct, s36. 6.474.96; to- tai inventories. s104,619O4; advertts ing matter catalogues. etc, ss,458.97; office stationery. s14s.62.
 Norwich continent account, 10000; salesmans equipment. S37s.s0; de- ferred charges: Advertising carried forward, $500: insurance premiums prepaid, $s75.1s; manufacturing and general expenses prepaid. s6875.
 Treasury stock ,(owned by Maine company). American Thermos Bottle conp pany of New York 0e00; ae- counts receivable, s162. .190.o3 cash tn bank and office s19.675.ao; cash at Norwich. s1.7s5.z5; total assets. $1,- 449, 9,9s7.14
 Combined Income Account.
 The combined income account for the year ended December 31, 1912:
 Earnings.
 Cross sales, $62s,o42.s2, less dis counts and returns S28, 8,657.01; total gross sales, s594,4s5.S1.
 Interest and cash discounts receiv- ed, $5.595.68; royalties earned (Maine Coo, ss6, ,oss.75; total earnings. $6s6,-
 Operating Expenses,
 Manufacturing expenses of materials and supplies used-Inven- tory, January 1, 1912, s9S,47s.42; pur- chases during year, s27o,5sS.21; total less inventory, December 31, 1912, s104s s1e.04; difference. s264, 4,44T5s. Glass blowing expenses, $28.43e.1S; packing, s2,s71.7e; silvertns pump room. ss,7757s; finishing room. 90, 47167; store room, $3,67s.2e; saIa- ries, se,sss.40; rent, $1o.8ss1S; other and supplies (Norwich). ssd51st; ;ds1 :, freight and eartage (Hor. company. ss6,o9s.75; total operating expenses, $438,71212.
 Selling Expenses Advertising, $4s.- eo2.Ss; salesmen's salaries and ex- clerk hire. s6,7ss.5s shipping depart nent expenses, s11,S41s1; freight. carriage and express, outward, $14,- to0.42; commissions, s1,s1O.S4; total selling expenses s96.204.03 penses ss, General @ ane expe1ses:. osasr E1 s7- s51.SS; supervision and accounting, Ef7,920.72; office rent, $1200.0o: ex- penses (Maine off1ce), $4225 56; insur- ance premiums expired CNew York s1.9442e: insurance premiums expired lNorwich), $2O00o: legal expenses, s1,90s.25 taxes. s2s9.66: old accounts written off 6 years), $1, ,711.32; reserve Tor depreciation on machinery and fix ures. ss.O0os0o; total, s41,25S4S; total operating expenses $576,17463 Net profit from operation for year ended Dec. s31. 1912, $110,005.61: earn ngs independent of operations for year ended Dec. 31, 1912, carried as con- ingent assets. $1O0.o50.00
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