CONSOLIDATED   INCOME   ACCOUNT   OF

THE  ISTEAV   YORK   AIR   BRAKE   CO.

^,„«^^.,.      ^-^^ ENDING DECEMBER 3Jst, V9J0.
 

Sales for the year..................................................................            $2,568,363.67

Cost of Manufacturing, Labor, Material and Factory Expenses...............              1,836,629.29 ■

Factory Profit..................                 731.734-38

Received from Investments, Interest and Discounted Bills.....................                  121,834.01

Profit for the year..................                 853.568.39

Administration   Expenses.......................................        210,204.87

Taxes.............................................................          13,502.89                223,707.76

Net Profit for year ending December 31st, 1910.................                 629.860.63

Paid 6% Interest on Convertible Gold Bonds..................        181,800.00

Paid Dividends................................................        299,772.00                481,572.00

Balance to Surplus Account.................                                          148,288.63

Amount Surplus remaining  previous year                                             7,617.89

Surplus Account........................                 155,906.5,2
 

CONSOLIDATED BALANCE SHEET, DECEMBER 3Ut, i9W.

ASSETS

Cash in Banks....................................................    $   658,665.04

Accounts and Bills Receivable..................................      1,615,741.36

Inventory, goods and material on hand.......................       1,253,477,05

Factories, Patents, Water Power, Land and Machinery......      9,278,464.57

Stock Investments...............................................         416,260.00           13,222,608.02

LIABILITIES

Accounts Payable................................................           26,701.50

Accrued Interest on Bonds.....................................           30,000.00

Mortgage on Real Estate other than factories................            10,000.00

First Mortgage 6'fo Convertible 20 year Gold Bonds..........      3,000,000.00

Capital Stock....................................................     10,000,000.00

Profit and Loss Surplus Account..............................          155.906.52            13,222,608,02
 

E.  A. JOHNSON,

Assistant Treasurer.