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Hilton Hotels, 1955 Annual Report
Image 8
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Hilton Hotels Corporation. Hilton Hotels, 1955 Annual Report - Image 8. 1955. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. May 25, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/886/show/865.

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. (1955). Hilton Hotels, 1955 Annual Report - Image 8. 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/886/show/865

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, 1955 Annual Report - Image 8, 1955, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed May 25, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/886/show/865.

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, 1955 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1955
Description Hilton Hotels Annual Report for calendar year 1955.
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 8
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_008_008.jpg
Transcript Wages, Taxes, and Dividends 1950 1951 1952 1953 1954 1955 —■ Wages •••• Taxes i _ _ Dividends sale of The Mayflower Hotel, Washington, D. C, for $12,800,000, plus adjustments for current assets. At the closing, which will take place on April 2, 1956, your Corporation will receive $1,000,000 in cash, 250,000 shares of the capital stock of Hotel Corporation of America at a price of $6 per share, now quoted on the New York Stock Exchange at $7,375 per share. The purchaser will assume the first mortgage of $4,850,000 and the balance of the purchase price will be represented by a note, secured by a second mortgage payable in installments over a period of ten years. Your Corporation will realize a profit of approximately $5,800,000 on this sale after taxes at capital gains rates. Your Corporation has also entered into an agreement extending the lease of The Plaza Hotel for an additional period of four years at substantially the same rental as is being paid under the existing lease. Dividends On January 28, 1955, the quarterly dividend rate on your Corporation's common stock was raised from 35 cents to 50 cents per share. Dividends at the new rate were paid on March 1, June 1, September 1 and December 1, 1955. Regular quarterly dividends of $1.25 per share on the 5% first preferred stock Series A and $1.1875 per share on the 4/4% first preferred stock (convertible) Series B, were also paid. Dividend payments on both preferred and common stocks in 1955 totaled $3,780,749. The balance of the net profit, totaling $5,324,011, was retained for use in the business. Long Term Debt On December 31, 1955, the outstanding consolidated long term debt of Hilton Hotels Corporation was $75,022,446, compared with $80,326,701 a year earlier. Analysis of the changes is shown in the accompanying table. Significant among the changes was the issuance of $7,978,900 of 4^% fifteen year convertible debentures through an offering of rights issued to former stockholders of Hotels Statler Company, Inc. The funds derived from the sale of these debentures were applied toward reducing the $20,000,000 loan from The First National Bank of Boston by $8,000,000. With the sale of The Jefferson Hotel on December 29, 1955, the hotel's indebtedness, then amounting to $1,768,964 was assumed by the purchaser. In addition to the required payment of $350,000, an extra payment of $350,000 was made in 1955 on the outstanding