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Hilton Hotels, 1962 Annual Report
Image 15
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Hilton Hotels Corporation. Hilton Hotels, 1962 Annual Report - Image 15. 1962. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. February 21, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/120/show/94.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Hilton Hotels Corporation. (1962). Hilton Hotels, 1962 Annual Report - Image 15. Annual Reports from the Hospitality Industry Archives. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. Retrieved from https://digital.lib.uh.edu/collection/hiltonar/item/120/show/94

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Hilton Hotels Corporation, Hilton Hotels, 1962 Annual Report - Image 15, 1962, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed February 21, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/120/show/94.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

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Compound Item Description
Title Hilton Hotels, 1962 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1962
Description Hilton Hotels Annual Report for calendar year 1962.
Subject.Topical (LCSH)
  • Hospitality industry
  • Hotel management
  • Corporation reports
Subject.Name (LCNAF)
  • Hilton Hotels Corporation
Genre (AAT)
  • annual reports
  • business records
Language English
Type (DCMI)
  • Text
  • Image
Original Item Location Conrad N. Hilton Papers
Digital Collection Annual Reports from the Hospitality Industry Archives
Digital Collection URL http://digital.lib.uh.edu/collection/hiltonar
Repository Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston
Repository URL http://www.uh.edu/hilton-college/About/hospitality-industry-archives
Use and Reproduction No Copyright - United States
File Name index.cpd
Item Description
Title Image 15
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_015_015.jpg
Transcript the ten hotels. Depreciation and amortization during 1962 amounted to $12,691,485, compared with $11,035,002 in 1961. Expenses for repairs and maintenance were reduced to $12,607,009, as compared with $12,763,180 the year before. Capital gains resulting from sales of properties amounted to $11,932,372, or $3.11 a share in 1962. The sale in June of The Savoy Hilton and the sale in December of the land under The Palmer House produced the major portion of such gains. Profits from property sales in 1961 were $7,177,422, or $1.89 per share. The bulk of these profits came from the sale of second mortgage notes on three former properties held in the Corporation's investment portfolio. Capital gains in both years were extraordinarily high, although Hilton has had some profits from this source for many years. At December 31, 1962, the balance sheet shows under the designation "deferred income," $3,068,209 representing unrealized profit from property sales in prior years. Most of these unrealized profits will be taken into profits over the next four years. The total equals approximately 65 cents a share, based on the common shares presently outstanding, after provision for taxes at the current capital gains rate. The corresponding deferred income item amounted to $3,361,438 at December 31, 1961. QUARTERLY DIVIDENDS: Four quarterly payments of 37K cents each were paid during the year, for a total of $1.50 a share on the common stock. The payments were made on the first day of March, June, September and December. The two issues of preferred stock previously outstanding were retired. In August, the Corporation purchased the remaining 3,500 shares of 5% First Preferred Stock, Series A, at the $100 par value plus accrued dividends. The 213,575 shares of 5K% Cumulative Voting Preferred, Series A (par value $25) were called for redemption on October 8 at $26.39K per share. During 1962, cash dividends amounted to $5,724,243 on the common stock and $233,379 on the preferred stock, a total of $5,957,622. Dividend payments on all classes of capital stock in 1961 aggregated $6,215,546. CAPITAL CHANGES: During the year, the number of common shares outstanding increased 52,624 shares, to 3,843,612 at $1.75 DIVIDENDS PER SHARE 1.50- 1.25 I.OO .75 .50 .25 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 NET PROFITS .TOTAL "FROM SALES OF PROPERTIES FROM OPERATIONS MILLIONS OF DOLLARS 20" 1 O- 6- 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 13