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Hilton Hotels, 1950 Annual Report
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Hilton Hotels Corporation. Hilton Hotels, 1950 Annual Report - Image 26. 1950. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. February 16, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/29/show/25.

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 26. 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/25

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 26, 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 16, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/29/show/25.

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 26
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_003_026.jpg
Transcript Analysis of Investments MAYFLOWER HOTEL CORPORATION As of December 31, 1950 Capital Stock— Book or 69.81% of the Capital Stock, Represented by Par Value Cost Common—272,066 Shares—Par $1.00 $ 272,066.00 $3,535,038.47 Surplus—Proportion Applicable to Hilton Hotels Corporation— At Dates of Acquisition 2,421,055.04 Profit—Subsequent to Acquisition Beginning of Year 612,078.59 Profit for the Year 1950—(Less: Dividends Received of $108,754.40) 291,267.02 $3,596,466.65 $3,535,038.47 HOTEL WALDORF-ASTORIA CORPORATION Capital Stock— 58.13% of the Capital Stock, Represented by 212,788 Shares—Par $1.00 $ 212,788.00 $2,531,703.55 Surplus—Proportion Applicable to Hilton Hotels Corporation— At Dates of Acquisition 1,452,583.94 Profit—Subsequent to Acquisition Beginning of Year 72,506.51 Profit for the Year 1950 581,467.32 $2,319,345.77 $2,531,703.55 JEFFERSON HOTEL COMPANY—(Note 1) Capital Stock— 86.85% of the Capital Stock, Represented by Common—10,226.6 Shares—No Par Value—Stated Value $25.00 per Share $ 255,665.00 $2,313,483.37 Surplus—Proportion Applicable to Hilton Hotels Corporation— At Dates of Acquisition 1,539,688.78 Profit—Subsequent to Acquisition Year 1950 27,670.45 $1,823,024.23 $2,313,483.37 BERMUDA DEVELOPMENT COMPANY, LTD.—(Note 2) Capital Stock— 7% of the Capital Stock Represented by Common Stock—7,310 Shares—Par 10 Pounds $ 204,957.78 $ 265,832.00 INSTALLMENT SALES CONTRACT NOTE Cummy Properties, Inc.—Five-Year Serial 4% Note $ 390,000.00 $ 390,000.00 Less: Due Within One Year—Included in Current Assets 18,000.00 18,000.00 $ 372,000.00 $ 372,000.00 DEBENTURES Chicago Lake Front Fair Subordinated Debentures—Due April 1, 1960 $ 25,000.00 $ 25,000.00 TOTAL INVESTMENTS $8,340,794.43 $9,043,057.39 NO TE 1: Hilton Hotels Corporation had options at December 31, 1950 to purchase 1,350.6 additional shares of Jefferson Hotel Company common stock at a price of $225.00 per share. 1,054.4 shares were purchased as of February 13, 1951. The option covering the remaining 296.2 shares expires as of April 30, 1951. NOTE 2: The par value of Bermuda Development Company, Ltd., capital stock was computed in American Dollars at the exchange rate of $2.8038 at December 31, 1950. AUDITORS REPORT 26 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, 1950 and its wholly-owned subsidiaries, State-Monroe Equipment Corporation, Beverly Hilton Development 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 and Horwath, and, the Dayton Biltmore Hotel, another operating unit, by Messrs. Wall, Cassel and Groneweg. The accounts of the Mayflower Hotel Corporation; Hotel Waldorf- Astoria Corporation and Jefferson Hotel Company in which Hilton Hotels Corporation had acquired a majority interest in the capital stock of said corporations have not been consolidated herein. The proportion of undis- Chicago, Illinois February 26, 1951 tributed profits applicable to the Corporation's holdings in these Companies from dates of acquisition to December 31, 1950 amounted to $1,584,989.89, representing the increase in the Corporation's equity in these Companies since acquisition to December 31, 1950. The accounts of the Mayflower Hotel Corporation and Hotel Waldorf- Astoria Corporation were examined and separately certified to by us. The accounts of the Jefferson Hotel Company were examined and separately certified to by Messrs. Horwath and Horwath. 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 companies 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, 1950 and the results of operations for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Harris, Kerr, Forster & Company