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Hilton Hotels, 1955 Annual Report
Image 20
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Hilton Hotels Corporation. Hilton Hotels, 1955 Annual Report - Image 20. 1955. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. March 31, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/886/show/877.

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 20. 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/877

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 20, 1955, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed March 31, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/886/show/877.

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 20
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_008_020.jpg
Transcript 1-BASIS OF CONSOLIDATION The consolidated financial statements include the accounts of the company and all of its wholly-owned subsidiaries and its majority-owned subsidiary. 2-FIXED ASSETS Substantially all of the real estate, furniture, furnishings and equipment is pledged to secure mortgages or other long-term debt of the consolidated companies. Furniture, furnishings and equipment owned by the company in "Statler Units," under lease from an affiliate, Statler Hotels Delaware Corporation, are pledged as additional security under a mortgage of that company. Fixed assets were carried at cost, or were carried over from predecessor companies together with related depreciation reserves at predecessor's basis, plus additions at cost. 3-FEDERAL TAXES ON INCOME Federal income tax returns of the company for the years 1951 through 1953 are presently under the usual examination by the Bureau of Internal Revenue and the returns of certain subsidiary companies and predecessor companies are subject to the usual review for the year 1952 and years subsequent thereto. The returns of two predecessor companies have been examined through the years 1952 and 1953 respectively and additional tax assessments approximating $228,000. have been proposed or agreed. 4-LONG-TERM DEBT The 43^2% fifteen-year convertible debentures are convertible to and including January 1, 1958, unless previously redeemed, at the option.of the holders thereof, into common stock of the company. The conversion price per share of common stock is $42.50 up to and including January 1, 1956, $43.50 thereafter and to and including January 1, 1957, $44.50 thereafter to and including January 1, 1958, and the said conversion prices are subject to adjustment under the event of certain happenings so as to prevent dilution of the conversion privilege. The trust indenture securing the debentures requires annual sinking fund payments on January 15th of each year beginning January 15, 1956 in an amount sufficient to redeem at the principal amount and without premium, 3% for each of the years 1956 to and including 1962, and 4% for each of the years thereafter, of the largest principal amount of debentures for which such sinking fund is established at any time outstanding. The company has complied with provisions of the sinking fund. 5-CAPITAL STOCK The 5% Cumulative First Preferred, "Series A" shares are subject to redemption, without premium, out of sinking fund payments, made on or before January 1st in each year in an amount sufficient to redeem 2% of the maximum number of such shares theretofore issued and outstanding. The 4%% Cumulative First Preferred (convertible) "Series B" shares are subject to redemption at a price of $102. per share, plus accrued and unpaid dividends. The shares are also subject to redemption through the operation of a sinking fund at par without any premium commencing with the year 1956 to the extent of 2% of the maximum number of such shares theretofore issued and outstanding. Such shares are convertible, at the option of the holder, into shares of common stock at a conversion price of $40. per share, subject to adjustment in certain specified events. 18