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Hilton Hotels, 1950 Annual Report
Image 25
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Hilton Hotels Corporation. Hilton Hotels, 1950 Annual Report - Image 25. 1950. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. February 17, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/29/show/24.

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. (1950). Hilton Hotels, 1950 Annual Report - Image 25. 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/29/show/24

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, 1950 Annual Report - Image 25, 1950, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed February 17, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/29/show/24.

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, 1950 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1950
Description Hilton Hotels Annual Report for calendar year 1950.
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 25
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_003_025.jpg
Transcript Financial Statements this stock the name of the Corporation was changed to Beverly Hilton Development Corporation and a certificate of election to dissolve the Corporation was executed December 29, 1950 and filed with the Secretary of State on January 26, 1951. (See Notes 1 and 2). 6 convertible preference stock—Since the date of Consolidation the Corporation has purchased for the Treasury 168,853.97 shares of its own convertible preference stock at a total cost of $6,402,342.87, the discount thereon being credited to capital surplus. Of the total shares so purchased 32,378.97 shares have been permanently retired and cancelled. The Corporation had options to purchase 54,564 shares of its own convertible preference stock for $40.00 per share at December 31, 1950 under a certain offer to stockholders which expired on August 15, 1949. At December 31, 1950 the Corporation had provided a reserve for dividends on convertible preference stock under option in the amount of $206,289.00 which would be required to be paid were the Corporation not to exercise its option under the terms of the offer. As of January 31, 1951, the Corporation exercised its option and purchased 18,188 shares of this stock in accordance with the terms of the offer and accordingly the dividend reserve was reduced by $68,763.00 as of January 31, 1951. Under the terms of the offer, the Corporation may purchase the remaining shares under option in equal annual amounts of 18,188 shares each on or before January 31, 1952 and 1953. 7 common stock—Common shares have been reserved for the conversion of convertible preference shares at the option of the holders thereof at the rate of two shares of common stock for each share of convertible preference stock. 8 reserve for contingencies—The Board of Directors established as of June 1, 1946 a reserve for contingencies of $1,700,000.00 to cover claims which may be asserted under various Federal statutes and regulations, including claims for Federal Income and Excess Profits Taxes of the Consolidated Companies, such reserve so created being deemed by the Board of Directors to be reasonably adequate to cover all such contingencies. 9 general—The suit instituted against Hilton Hotels Corporation and others by various stockholders of the Mayflower Hotel Corporation, involving, among other matters, the management fee charged by Hilton Hotels Corporation to Mayflower Hotel Corporation since acquisition of the controlling stock in December 1946, was decided by the District Court of the District of Columbia in favor of Hilton Hotels Corporation and the other defendants. The case is now on appeal before the Circuit Court of Appeals of the District of Columbia. INCOME ACCOUNT 1 consolidated income—Consolidated Income includes the wholly owned subsidiaries State-Monroe Equipment Corporation; Beverly Hilton Development Corporation and Hilton Hotels International, Inc., but not the partly owned Mayflower Hotel Corporation; Hotel Waldorf-Astoria Corporation; Jefferson Hotel Company or Hotels of the Bermuda Development Company, Ltd. (Reference is made to Consolidated Balance Sheet Note 1). The Corporation's share for the year ended December 31, 1950 of net profits, less dividends received, of the non-consolidated subsidiaries, which has not been reflected herein, amounted to $900,404.79, and for the year ended December 31, 1949, such share amounted to $200,132.85. 2 general—Operations for the year ended December 31, 1949 have been restated from previously issued reports for comparative purposes only. 25