Business: Simplicity for Employes

Dec. 31, 1937

"Accounts receivable, less reserves for doubtful accounts, discounts, etc. of

$457,738.69 at Dec. 31, 1937 and

$632,729.27 at Dec. 31, 1936

$4,795,935.30

"Inventories at lower of cost or market,

less $1,178,800.37 at Dec. 31, 1937

and $604,015.25 at Dec. 31, 1936 billed on uncompleted contracts

$9,218,793.17

"Land, buildings, equipment and mineral properties, at cost (except for the inclusion of net revaluation increases by subsidiaries or their predecessors, prior to the organization of the present parent company, of $4,316,994.85 in mineral properties and $241,764.73 in other fixed assets) less reserves for depreciation, depletion and...

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