Abraham

AND SUBSIDIARY!

CONSOUDATED BALAN<

ASSETS

Current Assets:

Cash ........................................................................................................                                 $   1,874,594.58

Marketable securities—at cost, less than market:

U. S. Government bonds......................................................................    $    612,937.50

Railroad bonds....................................................................................            47,41 1.25

--------------------         660,348.75

Customers'  accounts  and  notes  receivable,   less  reserves:

Regular retail terms ...........................................................................    $2,217,082.97

Installment terms ................................................................................          758,435.15

-----------------------      2,975,518.12

Sundry debtors ........................................................................................                                         1 10,444.44        ,

Inventories:                                                                                                                                                                                  I

Merchandise on hand, on the basis of cost or market, whichever is lower    $2,367,322.49                                       '

Merchandise in transit ........................................................................          101,166.20

Supplies   ..............................................................................................            45,541.89

--------------------      2,514,030.58

$ 8.134,936.47
Other Assets:

Cash surrender value of officers' life insurance........................................    $      36,802.50

Miscellaneous investments  ......................................................................            94,192.50

--------------------          130,995.00

Fixed Assets:

Land, leaseholds, buildings and building improvements on land owned
and leased (in part not used in operations)—at cost less deprecia¬
tion .................................................................................................   $7,687,674.15

Store fixtures and delivery equipment—at cost less depreciation ..........      2,227,033.05

--------------------      9,914,707.20

Deferred Charges:

Prepaid expenses—unexpired insurance,  etc...........................................    $      60,616.93                                        i

Unamortized debenture discount and expense..........................................          164,991.78                                       I

--------------------         225,608.71        1

Goodwill .....................................................................................................                                                      1.00

$18,406,248.38
 

To THE President and Board of Directors of
Abraham & Straus, Inc.:

We have examined the books and accounts of Abraham & Straus, Inc. and subsidiary realty companies for the year end(
correctly present the financial condition and the results of operations of the combined companies at the date and for the p(

New York, March  19,  1931.