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Hot Shoppes, Inc., 1956 Annual Report
Image 9
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Marriott Hot Shoppes. Hot Shoppes, Inc., 1956 Annual Report - Image 9. 1956. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. May 31, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/787/show/779.

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.

Marriott Hot Shoppes. (1956). Hot Shoppes, Inc., 1956 Annual Report - Image 9. 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/787/show/779

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.

Marriott Hot Shoppes, Hot Shoppes, Inc., 1956 Annual Report - Image 9, 1956, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed May 31, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/787/show/779.

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 Hot Shoppes, Inc., 1956 Annual Report
Creator (LCNAF)
  • Marriott Hot Shoppes
Publisher Marriott Hot Shoppes
Date 1956
Description Hot Shoppes, Inc. Annual Report for the fiscal year ending on July 29, 1956.
Subject.Topical (LCSH)
  • Hospitality industry
  • Hotel management
  • Corporation reports
Subject.Name (LCNAF)
  • Marriott Hot Shoppes
Genre (AAT)
  • annual reports
  • business records
Language English
Type (DCMI)
  • Text
  • Image
Original Item Location Marriott Hotels Collection
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 9
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_028_009.jpg
Transcript ff3^mjnt of consolidated financial condition i July 31, 1955 t Liabilities and Stockholders' Investment CURRENT LIABILITIES Accounts payable Trade creditors Income taxes withheld Miscellaneous Notes payable — current portion (see below)... Accrued salaries, wages, and bonuses Accrued payroll taxes, permits, and other taxes. Provision for income taxes (Note B) Miscellaneous Total Current Liabilities FIXED LIABILITIES 3 % % construction notes payable less current portion of $30,940—see current liabilities (Note C) ^k ^^6% debenture notes payable (payable $12,500 HI HJV annually—subordinated) less current portion of $12,500 — see current liabilities 4/2% note payable (payable $42,000 semi-annually/ balance due June 1, 1967) less current portion of $84,000 — see current liabilities (Note D) 4 Vi % mortgage payable—less current portion of $27,852 (Note E) Total Fixed Liabilities Total Liabilities STOCKHOLDERS' INVESTMENT Common stock — $1 par value; 1,000,000 shares authorized; outstanding Class B common stock—$1 par value; 750,000 shares authorized; outstanding Capital contributed in excess of par value of common stock (Note A) Retained earnings Unrestricted Restricted as to dividends (Note D) Total Stockholders Investment Total Liabilities and Stockholders' Investment „ The accompanying notes are an integral part of ibis statement. 1956 $ 1,231,698 4,077 40,953 155,292 440,852 100,321 969,491 217,813 $ 3,160,497 $ 2,554,766 75,000 830,000 799,874 $ 4,259,640 $ 7,420,137 $ 563,497 216,751 576,184 2,513,552 3,094,634 $ 6,964,618 $14,384,755 1955 $ 706,272 92,698 6,129 96,500 363,038 65,487 992,297 149,38*6 $2,471,807 87,500 914,000 $1,001,500 $3,473,307 $ 534,025 240,251 292,520 1,941,841 3,094,634 $6,103,271 $9,576,578 FOOTNOTES TO CONSOLIDATED FINANCIAL STATEMENTS Principles of Consolidation The consolidated financial statements include the accounts of Hot Shoppes, Inc. and thirty-three wholly owned subsidiaries. In consolidation, intercompany accounts and transactions have been eliminated. NOTE A In 1956 the investment in this subsidiary was increased to $249,000 and included in the land account in conformance with a ruling by the Securities and Exchange Commission. The increase of $230,000 is also reflected in capital contributed in excess of par value of common stock (see Stockholders' Investment section). NOTE B The Internal Revenue Service has audited our records thru July 31, 1949, and all additional taxes resulting therefrom have been paid. The Internal Revenue Service audit for the fiscal years 1950, 1951, 1952, and 1953 is in progress, but has not yet been completed. NOTE C The 3%% construction notes payable represent temporary financing on the Marriott Motor Hotel. A commitment for a 20 year mortgage loan to replace these notes has already been obtained from the Equitable Life Assurance Society of the United States. NOTE D A provision in the 4'/2% note payable to the Penn Mutual Life Insurance Company is that dividends, distributions, and payments on the Common Stock shall be paid only from consolidated surplus accumulated subseguent to July 31, 1951, and then only if the consolidated net current assets equal at least $1,000,000 after giving effect to such proposed dividend or distribution. NOTE E Principal and interest on the 4'/2% mortgage payable are being amortized by equal annual payments of $64,530.24 over the 20 year period ending August 31, 1975. This mortgage loan is secured with the land and buildings at 5161 River Road, Washington 16, D. C. F