ASSETS | ||
Plant property | $319,798.66 | |
Rights and contracts | 2,505,444.19 | |
Miscellaneous investments | 151.00 | |
Current assets---- | ||
Cash on hand | $3,742.76 | |
Account receivable | 78,634.55 | |
Materials, supplies | 130,217.04 | |
Work in progress | 222,571.43 | |
435,165.78 | ||
Deferred debit items | 33,355.94 | |
Total | $3,293,915.57 | |
LIABILITIES | ||
Capital and surplus | $3,036,719.95 | |
Current liabilities---- | ||
Audited vouchers | $29,962.23 | |
Accounts payable | 67,535.63 | |
Notes payable | 13,535.95 | |
111,033.81 | ||
Reserves---- | ||
For depreciation | $142,922.51 | |
For doubtful accts | 3,239.30 | |
146,161.81 | ||
Total | $3,293,915.57 |
ASSETS | |
Plant property | $ 316,292.38 |
Rights and contracts | 2,504,729.19 |
Investments | 4,151.00 |
Current assets | 534,222.34 |
Deferred charges | 21,507.05 |
Total | 3,380,901.96 |
LIABILITIES | |
Capital stock outstanding--249, 177½ shares of $10 each | $2,491,775.00 |
Current liabilities | 132,548.22 |
Reserves | 147,329.47 |
Surplus | 609,249.27 |
Total | 3,380,901.96 |
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*Deficit. |
It is impossible, of course, to forecast the results of any court action, but it is felt that in view of the substantial equities on the side of the Federal Telegraph Company, coupled with the unmoral action of the Pacific Telephone and Telegraph Company, which was contrary to every business precedent and every business custom, that the action as now filed should be prosecuted to the courts of final resort. It should be very clearly understood, however, that in the event the telephone company is able to persist in the unwarranted action, that the loss of revenue, which will result from the situation above stated, will in no wise affect the manufacturing end of the company's affairs, nor will it have any relation to returns obtained from the rental of ship's apparatus.