Summary analysis of the earned surplus accounts for the years 1934 to 1949, inclusive-Continued [000 omitted] CRUCIBLE STEEL CO. OF AMERICA (AND SUBSIDIARIES CONSOLIDATED)—continued Capitalized: By stock dividends__. By direct transfers to capital or capital surplus (net)1_ Earned surplus, balance Dec. 31, 1949-- 14, 590 ALAN WOOD STEEL CO. (AND SUBSIDIARIES CONSOLIDATED) By direct transfers to capital or capital surplus (net)‒‒‒‒ $317 317 By direct transfers to capital or capital surplus (net) – 159, 823 Total earned surplus retained at Dec. 31, 1949----"Write-down of fixed assets in connection with quasi-reorganization, $43,141; adjustment of reserves, $3,395; charges applicable to prior years, $1,600; premium, discount, and expense on bonds, $1,046. 12 Deficit in earned surplus transferred to capital surplus through quasi-reorganizaton. 13 Premium on preferred stock, $359; expenses of merger, $287; miscellaneous charges (net), $27. 14 Fiscal year ends Aug. 31. 15 Properties written down and written off, $1,380; premium discount, and expense on bonds, $347; charges applicable to prior periods, $559, 16 Premium, discount, and expense on bonds, $5,762; loss on abandoned plant, $1.803; amortization of emergency facilities, $1,995; charges applicable to prior periods, $563. Summary analysis of the earned surplus accounts for the years 1934 to 1949, inclusive-Continued [000 omitted] NATIONAL STEEL CORP. (AND SUBSIDIARIES CONSOLIDATED)-continued Capitalized: By stock dividends. $18,962 By direct transfers to capital or capital surplus (net)_. $18,962 Earned surplus, balance Dec. 31, 1949_. 140, 861 JONES & LAUGHLIN STEEL CORP. (AND SUBSIDARIES CONSOLIDATED) Earned surplus, balance Dec. 31, 1933_. $20, 647 By direct transfers to capital or capital surplus (net). By direct transfers to capital or capital surplus (net) Earned surplus, balance Dec. 31, 1949– 80,554 20 COLORADO FUEL & IRON CORP. (AND SUBSIDIARIES CONSOLIDATED) Total earned surplus retained at June 30, 1949__ 29,564 17 Credits: Adjustment of reserves, $7,315; miscellaneous, $543. Charges: Premium, discount, and expense on bonds, $3,084; adjustment of depreciation reserve, $775: loss on sale of plant, $613; items applicable to prior years, principally back wages, $2,854. 18 Surplus (deficit) of foreign subsidiary consolidated for first time, $7,039; loss on property abandoned, $4,588; premium discount and expense on bonds, $1.842; premium on preferred stock, $1,405; less elimination of reserve for contingencies, $2,554. 1934 19 Reclassification of property losses and depreciation charged capital surplus prior to 20 The company emerged from 77B proceedings in April 1936. Summary analysis of the earned surplus accounts for the years 1934 to 1949, inclusive-Continued [000 omitted] COLORADO FUEL & IRON CORP. (AND SUBSIDIARIES CONSOLIDATED)-continued Capitalized: By stock dividends___. By direct transfers to capital or capital surplus (net) By direct transfers to capital or capital surplus (net)‒‒ 9, 617 $7, 358 7,358 7,358 25 NEW SPORT STEEL CORP. (AND SUBSIDIARIES CONSOLIDATED) Earned surplus, balance Dec. 31, 1940 By direct transfers to capital or capital surplus (net) -. 7,775 Earned surplus, balance Oct. 31, 19492 27 7,775 21 Surplus of subsidiary consolidated for first time, $3,187; adjustment of prior year's income taxes, $3,242: adjustment of reserves, $1,516. Fiscal year ends June 30. The company was incorporated May 23, 1946. 24 No annual report was available for 1949. The company succeeded the Foster Machine Co. in 1941; no reports were filed by the predecessor company. Renegotiation adjustment, $2,188; less earned surplus of subsidiary merged, $2,030. 27 Fiscal year ends October 31. EXHIBIT S-191A Summary analysis of the earned surplus accounts of the 16 integrated steel companies (and subsidiaries consolidated) for the years 1934 to 1949, inclusive Re: Direct changes on credits to surplus 1 Renegotiation adjustments. 2 Credits: Reserves restored $34,562; judgment against U. S. Shipping Board, $5,272; management compensation waived, $1,611; interest on management stock purchase plai $1,980; items applicable to prior years (net), $910. Charges: Vacation allowances, $15,625; premium, discount and expense on bonds, $13,043. 3 Premium on bonds, write-down of properties and adjustment of reserve for notes receivable. Premium, discount and expense on bonds, $10,197; loss on investments sold, $6,306; adjustment of reserves, $4,317; miscellaneous charges, $1,359. Items applicable to prior years. • Premium, discount and expense on bonds, $2,192; flood losses, $1,941; charges applicable to prior years (net), $271. ' Premium, discount and expense on bonds, $5,769; provision for contingencies, $2,625; reserve for future inventory losses, $3,850; property written off, $1,327; miscellaneous charges (net), $139. s Write-down of fixed assets in connection with quasi-reorganization, $43,141; adjustment of reserves, $3,395; charges applicable to prior years $1,600; premium, discount and expense on bonds, $1,046. Premium on preferred stock, $359; expenses of merger, $287; miscellaneous charges (net), $27. 10 Properties written down and written off, $1,380; premium, discount and expense on bonds, $347; charges applicable to prior periods, $559. 11 Premium, discount and expense on bonds, $5,762; loss on abandoned plant, $1,803; amortization of emergency facilities, $1,995; charges applicable to prior periods, $563. 12 Credits: Adjustment of reserves, $7,315; miscellaneous, $543. Charges: Premium, discount, and expense on bonds, $3,084; adjustment of depreciation reserve, $775, loss on sale of plant, $613; items applicable to prior years, principally back wages, $2,854. 13 Surplus of foreign subsidiary consolidated for first time, $7,039; loss on property abandoned, $4,588; premium discount and expense on bonds, $1,842; premium on preferred stock, $1,405; less elimination reserve for contingencies, $2,554. 14 Surplus of subsidiary consolidated for first time, $3,187; adjustment of prior year's income taxes, $3,242; adjustment of reserves, $1,516. 15 Renegotiation adjustment, $2,188; less earned surplus of subsidiary merged, $2,030. 16 Deficit in earned surplus transferred to capital surplus through quasi reorganization. Re Colorado Fuel & Iron Corp., Portsmouth Steel Corp. and Newport Steel Corp. |