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Hilton Hotels, 1961 Annual Report
Image 31
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Hilton Hotels Corporation. Hilton Hotels, 1961 Annual Report - Image 31. 1961. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. December 2, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/561/show/553.

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. (1961). Hilton Hotels, 1961 Annual Report - Image 31. 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/561/show/553

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, 1961 Annual Report - Image 31, 1961, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed December 2, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/561/show/553.

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, 1961 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1961
Description Hilton Hotels Annual Report for calendar year 1961.
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 31
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_014_031.jpg
Transcript STATEMENT OF CONSOLIDATED SURPLUS r CAPITAL- SURPLUS BALANCE—DECEMBER 31, 1960 ADD: Excess of Market Value Over Cost of 62,500 Common Treasury Shares Issued as Part Payment for Hilton Hawaiian Village, Honolulu 1,776,343.79 Surplus Arising from Conversion of 29,054 Shares, 5H% Cumulative Preferred, Series "A" into Common Stock in Accordance with Conversion Privileges 675,177.27 Surplus Arising from Exchange of Land in Houston, Texas for 49,400 Shares First Preferred Stock, 5% Series "A" 4,603,575.02 7,055,096.08 LESS: Decrease in Surplus Arising from Adjustment of Fixed Assets and Related Depreciation Reserves of Savoy-Plaza, Inc. to Tax Basis, as Result of Additional Costs in 1961 52,917.26 BALANCE—DECEMBER 31, 1961 $31,912,878.41 7,002,178.82 $38,915,057.23 ■ EARNED SURPLUS I BALANCE—DECEMBER 31, 1960 ADD: Net Income and Profits for the Year Ended December 31, 1961 DEDUCT: Dividends: Cumulative First Preferred Stock, 5% Series "A" 202,750.00 Cumulative Preferred Stock, 5K% Series "A" 303,677.19 Common Stock 5,709,119.38 BALANCE—DECEMBER 31. 1961 $57,904,979.48 13,539,700.98 71,444,680.46 6,215,546.57 $65,229,133.89 HILTON HOTELS CORPORATION AND CONSOLIDATED SUBSIDIARIES CERTIFICATE OF INDEPENDENT PUBLIC ACCOUNTANTS To The Board of Directors and Shareholders of Hilton Hotels Corporation We have examined the balance sheet of Hilton Hotels Corporation and its Consolidated Subsidiaries at December 31, 1961 and the related consolidated surplus and income statements for the year then ended. These consolidated statements have been prepared from financial statements of Hilton Hotels Corporation and its Subsidiaries which were either audited by us or by other independent accountants who have submitted to us their certificates concerning the underlying financial statements examined by them. 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. In our opinion, based upon our examination and upon opinions expressed in the certificates of other independent accountants pertaining to the examinations made by them, the accompanying consolidated balance sheet and related statements of consolidated surplus and income, together with explanatory notes thereto, present fairly the financial position of Hilton Hotels Corporation and its Consolidated Subsidiaries at December 31, 1961, and the results of their operations for the year then ended in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Chicago, Illinois February 28, 1962 HARRIS, KERR, FORSTER & COMPANY 27