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and Subsidiaries
SUMMARY OF CONSOLIDATED EARNINGS for the five years ended December 31, 1953
GROSS REVENUE
EXPENSES
1953 1952 1951 1950 1949
Rooms Department $39,307,529 $34,331,105 $31,350,484 $28,248,855 $19,624,629
Food and Beverage Department 45,301,690 40,950,719 38,215,048 33,822,503 21,079,609
Other Operated Departments 9,649,254 8,983,416 7,869,696 7,088,476 5,424,123
Other Income 1,839,273 1,555,618 1,422,105 1,311,652 681,677
Store Rentals 1,471,666 1,334,514 1,316,047 1,270,166 953,719
Interest on Investments 124,578 63,152 48,835 54,109 41,637
total gross revenue $97,693,990 $87,218,524 $80,222,215 $71,795,761 $47,805,394
Operated Departments $53,265,104 $47,683,216 $44,052,000 $39,017,530 $26,444,235
Administrative and General 9,572,412 8,275,935 7,276,940 6,236,809 3,646,620
Advertising and Business Promotion 2,115,632 1,802,294 1,578,280 1,289,375 934,372
Heat, Light and Power 3,076,723 2,671,729 2,454,960 2,157,643 1,530,851
Maintenance and Repairs 6,519,117 5,063,585 4,328,086 3,456,026 2,470,581
Lease Rentals 4,687,984 3,351,809 2,706,456 2,388,943 182,599
Real Estate and Personal Property Taxes 3,053,159 2,926,238 2,574,738 2,328,134 1,717,022
Depreciation and Amortization 3,996,447 3,835,806 3,445,779 3,082,458 2,539,522
Interest 1,296,507 1,230,910 1,236,834 1,147,080 845,834
Other Operating Costs 216,834 276,205 14,108 —
Provision for Income Taxes 4,793,205 5,153,529 5,398,265 4,634,733 2,849,806
Other Capital Charges 792,819 760,855 625,977 658,751 232,864
total expenses $93,385,943 $83,032,111 $75,692,423 $66,397,482 $43,394,306
net profit before other additions or deductions $ 4,308,047 $ 4,186,413 $ 4,529,792 $ 5,398,279 $ 4,411,088
OTHER ADDITIONS
OR (DEDUCTIONS)
NET PROFIT
Gain or (Loss) on Sales or Abandonments of Capital
Assets $ 3,081,562
Contribution to Pension Trust (500,000)
Sundry Others Net 31,836
Provision for Applicable Taxes (516,369)
Adjustments for Prior Years 98,521
TOTAL OTHER ADDITIONS OR DEDUCTIONS $ 2,195,550
TOTAL NET PROFIT $ 6,503,597
Deduct Minority Interest 89,597
$ 6,414,000
$ 334,301
$
(1,339) $
(796)
$ (273,415
(400,000)
(400,000)
—
—
156,350
(138,188)
117,108
20,944
45,553
294,042
(53,704)
95,939
380,272
—
—
—
$ 516,476
$
$
(245,485) $
4,284,307 $
62,608
5,460,887
$ (156,532
$ 4,702,889
$ 4,254,556
181,474
343,492
605,554
122,883
$ 4,521,415
$
3,940,815 $ 4,855,333
$ 4,131,673
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