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Hilton Hotels, 1956 Annual Report
Image 12
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Hilton Hotels Corporation. Hilton Hotels, 1956 Annual Report - Image 12. 1956. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. October 20, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/598/show/573.

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. (1956). Hilton Hotels, 1956 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/598/show/573

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, 1956 Annual Report - Image 12, 1956, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed October 20, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/598/show/573.

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, 1956 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1956
Description Hilton Hotels Annual Report for calendar year 1956.
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_009_012.jpg
Transcript ZE^I 1ST 3>T C2 I X capital changes. The two-for-one stock split, approved by stockholders on September 17, 1956, resulted in the doubling of the number of common shares. The outstanding common stock was also increased by 126,700 shares through the conversion of 25,340 shares of 4H% First Preferred J Stock (Convertible), Series B, and by 100,090 shares through the conversion of $2,166,200 principal amount of 4lA% fifteen-year convertible debentures. In addition, 63,946 shares of Treasury common stock were issued in the acquisition of the San Antonio Hilton. At year's end, there were 3,671,602 shares of common stock outstanding, compared with 3,440,478 shares, adjusted for the split, outstanding at December 31, 1955. Both amounts listed above exclude Treasury stock. On October 26, your Directors authorized the purchase of 100,000 shares of common stock, equivalent to the amount of shares originally issued in 1953 to purchase the Hotel New Yorker. Of this number, 46,900 shares had been purchased by December 31, bringing the total number of shares in the Treasury to 443,825. Book value of Hilton Hotels Corporation common stock was $18.96 per share at December 31, 1956, compared with $15.25 per adjusted share a year ago. analysis OF long term debt. The consolidated long term debt of the Corporation was reduced during the year to $66,780,018 at December 31, 1956, from $75,022,446 a year earlier. The changes are analyzed completely on the table on the facing page. Long term debt of $10,901,763, in the form of mort gage bonds and notes, was eliminated through the sale of the New Yorker and the Mayflower properties. In addition, $1,688,769 of subordinated debentures of the Roosevelt were assumed by the purchaser in the sale of that property. An additional $350,000 payment, apart from the normal $350,000 installment, was made on the outstanding Waldorf-Astoria loan during the year, reducing it to $750,000 from $1,450,000 at the end of 1955. Additions to long term debt included mortgages of 000,000 on the Terrace Hilton, and $450,000 on the San Antonio Hilton, together with a $2,400,000 note on the New York Statler. OUR ASSETS. An impressive yardstick by means of which a corporation's stature can be measured is the amount of its total assets at year's end. Hilton Hotels Corporation's total assets at December 31, 1956, were $187,313,911 — more than three times the amount of total assets at year's end in 1946. An examination of the chart on the opposite page will graphically demonstrate the Corporation's steady growth, paralleling the accumulation of hotel properties in the Corporation's ever-expanding family. One asset not measurable on a chart is the amount of good will accruing to a corporation. This is an asset of inestimable worth, and is dependent upon the corporation's public relations image as it is maintained in the eye of the public. The image is sustained by what the public reads and hears about a corporation, and by its direct experience with the personnel and facilities of the corporation. We feel that our public relations image is an excellent one. We intend, by unremitting attention to small details, to keep it that way. 10