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Hilton Hotels, 1949 Annual Report
Image 30
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Hilton Hotels Corporation. Hilton Hotels, 1949 Annual Report - Image 30. 1949. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. February 22, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/207/show/204.

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. (1949). Hilton Hotels, 1949 Annual Report - Image 30. 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/207/show/204

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, 1949 Annual Report - Image 30, 1949, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed February 22, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/207/show/204.

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, 1949 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1949
Description Hilton Hotels Annual Report for calendar year 1949.
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 30
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_002_030.jpg
Transcript jL-J m (/4»<\/ysvs of ^nvcstwcnts MAYFLOWER HOTEL CORPORATION As of December 31, 1949 Capital Stock— Book or 69.75% of the Capital Stock, Represented by Par Value Cost Common—271,826 Shares—Par M.00 » 271,826.00 1(3,531,936.77 Surplus—Proportion Applicable to Hilton Hotels Corporation— At Dates of Acquisition 2,254,489.73 Profit—Subsequent to Acquisition Beginning of Year 411,945.74 Profit for the Year 1949—(Less: Dividends Received of S81.547.80) 200,132.85 $3,138,394.32 »3,531,936.77 HOTEL WALDORF-ASTORIA CORPORATION—(Note 1) Capital Stock— 41.85% of the Capital Stock, Represented by 153,197 Shares—Par $1.00 t 153,197.00 »1,850,864.00 BERMUDA DEVELOPMENT COMPANY, LTD.—(Note 2) Capital Stock— 7% of the Capital Stock, Represented by- Common Stock—7,310 Shares—Par 10 Pounds 11 204,771.38 » 265,832.00 INSTALLMENT SALES CONTRACT NOTES Cummy Properties, Inc.—Five Year Serial 4% Note J 406,500.00 S 406,500.00 Charles Sachs—Ten Year 4H% Installment Note 38,000.00 38,000.00 S 444,500.00 $ 444,500.00 Less: Due Within One Year—Included in Current Assets 22,000.00 22,000.00 It 422,500.00 I 422,500.00 TOTAL INVESTMENTS $3,918,862.70 $6,071,132.77 NOTES: (t) Hilton Hotels Corporation has made an offer to exchange on a share Jor share basis 5d,161 shares oj its common stock for 51,161 shares oj Hotel Waldorf-Astoria Corporation capital slock held by individuals. This offer expires March 31, 1950. Hilton Hotels Corporation, by Agreement, has the right to purchase from Officers and Directors of Hilton Hotels Corporation dl,666 shares of Hotel Waldorf-Astoria Corporation capital stock held by them at December 31, 1909, on or before January 1, 1952, at the same price paid by such persons for said shares. These shares were purchased by the Corporation in January 1950. (2) The par oalue of Bermuda Deoelopmenl Company, Ltd., capital stock was computed in American dollars at the exchange rate of 12.80125 at December 31, 19d0. 'fez*? /LeZ&ts To the Board of Directors, Hilton Hotels Corporation, Chicago, Illinois. Gentlemen: We have examined the Consolidated Balance Sheet of Hilton Hotels Corporation at December 31, 1949 and its wholly-owned subsidiaries, State-Monroe Equipment Corporation and Hilton Hotels International, Inc., and the related Consolidated Statements of Profit and Loss and Surplus for the year then ended. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. Examination of the accounts of the operating unit, Town House of Los Angeles as well as the wholly-owned subsidiary, Hilton Hotels International, Inc., were made and separately certified to by Messrs. Horwath & Horwath, and, the Dayton Biltmore Hotel, another operating unit, by Messrs. Wall, Cassel and Groneweg. The accounts of the Mayflower Hotel Corporation in which Hilton Hotels Corporation had acquired 69.75% of the outstanding shares of common stock as at December Chicago, Illinois February 24, 1950 31, 1949 have not been consolidated herein. The proportion of undistributed profits applicable to the Corporation's holding in this Company from date of acquisition to December 31, 1949 amounted to 5612,078.59, representing the increase in the Corporation's equity in this Company since acquisition to December 31, 1949. The accounts of the Mayflower Hotel Corporation were examined and separately certified to by us. In our opinion, based upon our examination and upon the opinions expressed in the reports of the independent public accountants pertaining to the operating units and Company which were examined by them, the accompanying Consolidated Balance Sheet and related Consolidated Statements of Profit and Loss and Surplus, together with the notes pertaining thereto, present fairly the financial position of Hilton Hotels Corporation and its wholly- owned subsidiaries at December 31, 1949 and the results of operations for the year then ended, in conformity with generally accepted accounting principles. Harris, Kerr, Forster & Company