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film production, distribution, exhibition, vaudeville, legitimate stage production, etc. Controlling stock interest in the company is held by Film Securities Corp. incorporated in Delaware, Oct. 18, 1919.
Year 1939 1938 1937 1936 1935 1934 1933 1932 1931 1930 1929 1928 1927 1926 1925 1924 1923 1922 1921 1920
Capitalization: Preferred stock, no par, $6.50 cumulative, 300,000 shares authorized, 136,722 outstanding. Common stock, no par, 4,000,000 shares authorized, 1,665,713, outstanding.
Dividend: Common, $2.50 in 1939; Preferred, $6.50 annually.
STOCK
PRICE
RANGE
Common
Earned
Preferred
Earned
High
Low
Per. Sh.
High
Low
Per. Sh.
S4'/2
3oy2
109^4
1015-8
62 Yz
33
$5.65**
111 !4
99
$72.59**
435/j;
8.62*
110
99-54
105.51*
■ 67 ya
43
6.73**
108'/8
104;/,
81.02**
31J4
4.43
IO854
102
54.87
. 37
20 H
4.50
105
72
54.39
. 36'A
&•/*
2.15
78/8
35
29.15
• 37y4
13'A
4.80
80
39
56.67
23%
7.43
98
56
81.47
. 9sy4
4154
9.65
1123-8
85 54
99.48
. 84H
32
7.91
11054
80
79.22'
. 77
49}£
5.98
HO5-8
57.12
46 A 34'A
6.35 6.17
. 44J4
22
4.69
15 K8
2.89
• 2VA
14
2.28
. 2354
WA
2.14
10
1.70
14J4
1.94
* 6 months.
"* Fiscal yecr.
CONSOLIDATED BALANCE SHEET, AUGUST 31, 1939
Assets
Current and Working: Cash in banks and on hand, $13,781,161.11; United States Government and agency securities — at cost: market value $3,370,757.82, $3,380,651.43 $17,161,812.54
Notes receivable, $48,686.47; Accounts receivable, $2,447,689.46 2,496,375.93
Inventories — At cost: Film productions in process, $18,365,949.50; Film productions completed— not released, $2,139,699.21; Film productions released, after amortization, $18.406,351.96, total, $38,912,000.67; Books and rights, after reserve of $1,400,833.51, $4,651,614.70; Film advertising accessories, $456,361.63; Theater and studio supplies,
$334,161.30 44,354,138.30
Due from partly owned subsidiary and affiliated corporations 64,254.41
Advances: To outside producers, secured by film productions, $1,443,660.17; Mortgage and
interest payments, $155,115.12 1,598,775.29
Total Current and Working Assets $65,675,356.47
Investments: Partly owned subsidiary and affiliated corporations: Securities, $6,002,633.16; Advances, _ $2,21 5,967.75, total, $8,218,600.91; Investments in and advances to allied corporations, including interest in Gaumont-British Picture Corporation, Ltd. through holding companies— at cost — $3,500,330.26, $4,519,484.57; Other investments, $1,923,258.15; Sinking fund requirements anticipated — at cost, $137,660.41; Deposits on leases and contracts,
$979,079.06 15,778,083.10
Fixed Assets: Land, $28,973,217.66; Buildings and equipment, $66,101,676.36; Leaseholds,
$5,484,762.43, total, $100,559,656.45: Less— Reserve for depreciation $27,580,640.96 72,979,015.49
Deferred Charges: Prepayments and general, $1,084,634.88; Bond discount and expense,
$1,306,116.14; Preliminary and development expense — foreign, $510,002.65 2,900,753.67
$157,333,208.73
Liabilities and Capital
Current: Accounts payable and accruals, $4,819,365.12; Accrued interest, $166,566.91; Domestic
and foreign taxes, $4,143,832.07; Due to foreign banks, $309,356.53 $ 9,439,120.63
Sinking fund and instalment payments due within one year: Loew's Incorporated 3J4% sinking fund debentures, $750,000; Loew's Incorporated 2 54% promissory note, $750,000; Bonds and mortgages of wholly owned subsidiaries (including bonds called for payment
January 15, 1940— $1,402,500), $1,828,316.57 3.328,316.57
Total Current Liabilities $12,767,437,-20
Securities from tenants, film rentals and other deferred credits 942,618.47
Reserve for contingencies 215,000.00
Funded Debt: Loew's Incorporated 3K% sinking fund debentures — maturity 1946, $12,331,000; Loew's Incorporated 254% promissory notes — payable semi-annually February 1. 1940 to August 1, 1944, $3,750,000; First lien 3K% bonds of wholly owned subsidiary — Maturity 1954, $11,250,000; Bonds and mortgages of other wholly owned subsidiaries, including open mortgages and those maturing within one year, which usually are renewed — $560,304.01, $8,992,954.42, total funded debt, $36,323,954.42; Less— Sinking fund and
instalment payments due within one year, $3,328,316.57 32,995,637.85
Wholly owned subsidiaries' preferred stock 1,319,900.00
Capital Stock: Preferred — No Par Value: Originally authorized — 300,000 shares; Outstanding— 136,722 shares — $6.50 cumulative (entitled upon liquidation to $105 per share —
aggregate $14,355,810) 12,920,229.00
Common — No Par Value: Authorized— 4,000,000 shares; Outstanding — 1,665,713 shares 43,833,210.64
Earned surplus 52,339,175.57
$157,333,208.73
991