NEW YORK CITY OMNIBUS CORPORATION AND SUBSIDIARIES

CONSOLIDATED   BALANCE   SHEET—DECEMBER 31,   1936

LIABILITIES

Current Liabilities (Not including equipment purchase obligations of $1,051,910.52
due in 1937) :

Accounts payable, including accrued payroll..................................................___........

Accrued taxes—

Federal income, subject to review by U, S. Treasury Department................

General taxes....................................................._............................................................

Accrued interest, for which $22,129.53 has been deposited per contra..................

Equipment Purchase Obligations ($1,051,910.52 payable in 1937) payable in
monthly installments—secured by equipment being purchased under conditional
sales contracts   (see  Note c).............................-.................................................................

Bonds Assumed (Originally issued by New York Railways Corporation) :

Sixth Avenue Purchase Mortgage Forty Year 5% Gold Bonds, due January

1, 1965 ...................................................................................................--...-...................-.

Central Crosstown Purchase Bonds, 6%, due May 1, 1940......................................

Prior Lien Mortgage 6% Gold Bonds, Series "A", due July 1, 1958....................
 

Reserves:

Reserve for depreciation, etc.......................................................______...........................

Reserve for injuries and damages...........................___................._..._...........................

Reserve for amortization   of   payment   under   franchise   contract   of   Eighth
Avenue Coach  Corporation........................................................_____..........................

Capital Stock (See Note d) :

Authorized 700,000 shares, without par value—

Issued and outstanding 458,450 shares stated at......................-...........................    $2,630,993.9}

Reserved for exercise of warrants to be issued to holders of New York
Railways Corporation preferred stock—42,633 shares....................................               ...........
 

$ 351,277.17
 


 

81,660.33
 


 

98,004.51
 


 

36,865.87
 

$    567,807.88
 


 

6,211,045.98
 

$ 286,015.00
 


 

115,000.00
 


 

3,555,306.48
 

3,956,321.48
 

$1,152,236.72
 


 

389,815.19
 


 

54,357.87
 

1,596,409.78
 

Deferred Credit, arising from contributions by New York Railways Corporation
of receivables from Madison Avenue Coach Company, Inc. and Eighth Avenue
Coach Corporation................................................................................................................................................

Credit in Respect of Amount to be Amortized on Basis of Recapture Con¬
tract, per contra........................................................................_.............................................     $7,500,000.00

Less—Amount of such contra item which has been amortized by New York
City Omnibus Corporation prior to December 25, 1936, date of commence¬
ment of operations for its own account, charged hereagainst in accordance
with a resolution of the Board of Directors............................................................          388,879,35
 

Capital Surplus  (Sec Note b) :

Arising principally from certain rights and benefits contributed or to be con¬
tributed by New  York Railways   Corporation per agreement of transfer

dated December 24, 1936...................................--.........................................................     $  753,342.31

Li'jj—Miscellaneous expenses of New York City Omnibus Corporation
applicable prior to December 25, 1936, date of commencement of oper¬
ations for its own account, charged hereagainst in accordance with a
resolution of the Board of Directors..........................................._......_.........._._          538,117.98

Surplus of New York City Omnibus Corporation Since Commencement of
Operations for Its Own Account (See accompanying statement)....................................................
 

$22,928,264.76
 

(See following pages for notes which are an integral part of the foregoing balance sheet)
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