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Hilton Hotels, 1960 Annual Report
Image 12
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Hilton Hotels Corporation. Hilton Hotels, 1960 Annual Report - Image 12. 1960. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. July 8, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/476/show/451.

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. (1960). Hilton Hotels, 1960 Annual Report - Image 12. 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/476/show/451

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, 1960 Annual Report - Image 12, 1960, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed July 8, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/476/show/451.

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, 1960 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1960
Description Hilton Hotels Annual Report for calendar year 1960.
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 12
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_013_012.jpg
Transcript prudent policy at this time to provide for possible adjustments for taxes, other investments, and other contingencies. Accordingly, a charge of $2,000,000 was made against earned surplus and the reserve for contingencies increased from $500,000 to $2,500,000. At December 31, book value per share of common stock was $24.37 compared with $24.22 a year earlier. Book value reflects the historical cost to the Corporation of its assets as reduced by accumulated depreciation. The market value of our properties, however, is substantially higher than book value due to the upward trend in real estate values since formation of the Corporation in 1946. The investment quality of Hilton Hotels securities is becoming more widely recognized. This is indicated by the growing interest of institutional investors who generally are rather tightly circumscribed by law or their charters as to the securities which they may own. At year end, there were 614,478 shares or approximately 16.5 per cent of Hilton common stock in the portfolios of investment trusts, banks, pension funds and other institutional investors. These concerns also hold a high proportion of Hilton debentures and preferred stock issues. On January 1, 1960, the 5V2% Cumulative Voting Preferred Stock, Series A, (par value $25) became convertible into common stock at the rate of 1.42 shares of preferred stock for each share of common stock. Thus the 242,611 shares of this preferred issue outstanding at December 31, 1960 are currently convertible into approximately 170,852 shares of common stock. The 5x/i % preferred stock was originally issued in connection with the acquisition of Savoy-Plaza, Inc. When this corporation was merged into Hilton Hotels Corporation on December 31, 1958, holders of 11,419 shares of Savoy-Plaza, Inc. stock dissented from the exchange ANALYSIS OF CONSOLIDATED LONG-TERM DEBT BALANCE DECEMBER 31, 1959 ADDITIONS DURING 1960 REDUCTIONS DURING 1960 BALANCE DECEMBER 31, 1960 MORTGAGE BONDS AND NOTES The Palmer House The Conrad Hilton Waldorf-Astoria Laundry The Shamrock Hilton Hilton Hotel, San Antonio The Terrace Hilton The Savoy Hilton The Pittsburgh Hilton DEBENTURES 2 % Hilton, Due 11/1/64 4% Hilton, Due 7/1/77 4i/2 % Hilton, Due 1/1/70 6% Hilton, Due 10/15/84 4% Metropolitan Hotel Corporation. OTHER NOTES Installment Purchase Contract Waldorf-Astoria Laundry Hilton Hotels International Hilton Hotels Corporation Hilton Hotels International Hilton Hotels Corporation Hilton Hotels International Sundry TOTAL $10,880,000 4,600,000 172,481 11,651,000 262,500 7,178,879 2,122,251 10,000,000 1,500,000 4,384,000 2,127,000 28,800,000 2,750,000 2,050,000 478,460 196,712 4,000,000 175,000 3,490,239 444,445 92,500 $97,355,467 2,000,000 125,919 2,125,919 560,000 10,320,000 300,000 4,300,000 172,481 — 308,000 11,343,000 262,500 — 285,976 6,892,903 116,848 2,005,403 — 12,000,000 1,500,000 129,000 4,255,000 — 2,127,000 — 28,800,000 — 2,750,000 100,000 1,950,000 40,720 437,740 50,000 146,712 2,005,297 1,994,703 175,000 — 3,490,239 — 222,223 222,222 72,932 145.487 8,291,216 91,190,170