CAnnuffiReporf and

ConsohiiatedBafance SIieef Of

MACIC TRUCKS, ‘INC.

andSu6skX~ay Companies

Ahwa/iZeporf and

ConsohiikztedBa/ance Sfieef of

MACK TRUCKS, INC. and Su6skXiay Companies

Y --- -. ~- _ - _ ---

MACK MODEL AB-CHAIN DRIVE EQUIPPED WITH ,MACK STANDARD

DIThZP BODY FOR ROAD BUITADING

MACK MODEL BC-SIX CYLINDER ~3QUIl’PED 1VITH TANK BODY

MACK MODEL AC-CHAIN DRIVE WITH RACK TYPE BODY

L’- __- _._ - - - ~.-- __ c. .~~-~- .--

MACK MODEL BG-SIX CYLINDER WITH COVERED EXPKF:SS BOIlT

MACK MODEL BJ-SIX CYLINDER EQUIPPED \VITH MACR VAN BCJL)Y

I MACK MODEL AK-DUAL REDUCTION DRIVE EQUIPPED WITH TANK BODY

MACK MODEL AB-FOUR CYLINDER 25 OR 29 PASSENGER CITY TYPE BUS

(GAS OR GAS-ELECTRIC)

MACK MODEL RR-SIX CYIJNDER 29 OR 33 PASSIcNCER TNTERSTATE BUS

MACK MODEL BC-SIX CYLINDER 29 OR 33 PASSENGER CITY TYPE BUS

(GAS OR GAS-ELECTRIC)

MACII TRUCKS, INC.

Your Directors submit herewith consolidated balance sheet ad profit ad

loss statement of Ma& Trucks, Inc., and subsidiary companies, certified to by Arthur Young and Company, showing the condition of your Company as of Decem- ber 31, 1929, compared with December 31, 1928.

Xalw for t,hc year 1929 were $57,227,200.%.

The combined net earnings for the year were $6,84l,OGG% or $9.05 per share on the outstandin, (r 755,625 shares of common stock.

During the year the regular quarterly dividends of $1.50 each were l,aicl 011 the Common Stock, amounting to $4,533,749.08.

The Reserve for Depreciation has been increased by $2,030,094.%. The cost of maintlenance, experimental and development work has been charged to operating expense. The inventory has been priced at cost or market, whichever was lower. Used trucks and buses, less in number than in recent years, are marked clown to

lowor values than current resale prices. There has been charged against the Reserve for Contingencies the sum of $350,000.00 being prior yciws' dial*@33 for wliiolr tlris reserve was provided.

The volume of business during the first three quarters of the year was con- siclerablv greater than for the corresponding period of the previous year, but during t8hc lttstti quarter it declined, as compared with the previous year. It will be noted, Ilowever, that profits for the year are substantially larger than in recent years.

During the last two years two new models, smaller in size than heretofore made by your Company, have been developed and are now in production. In addi- tion, many improvements have been made in the current models.

The new models will afford the public an opportunity (which it has not here- tohre enjoyed) of securin, (p small trucks of the same high grade as our present heavy duty trucks. The light duty market is much wider than the market for heavy duty trucks. The users of our small models can secure incomparably better service from our branch service stations than can be obtained elsewhere and this should result in giving us a broad market on the lighter trucks.

The stron g financial condition of your Company makes it possible to extend credit to responsible customers at a minimum cost to the customer.

These factors, your officers believe, together with improving general business conditions, justify the belief that our volume durin, (r 1930 will be at a greater rate than last year.

The President again takes this opportunity to express his appreciation of the loyal efforts of the employees and the splendid spirit of cooperation which is being manifested.

FOR THE DIRECTORS,

A. ,J. lXOSSl&W,

New York City

Feb. 24, 1930.

.I s s IS ‘1‘ s

C‘UKIUN’I .1SSlS’l’S : 1029

C’asl1 .............................................. $ 1,899,X7.92

ilccounts and Sotcs l<eceival)lc ...................... 22,087,391.41

lllvclltor-its ......................................... 20,306,231.X)

‘1‘~tar C’ul-l-e111 L\ssets ....................... $44,292,990.83

I~Isl~l~ ,~SSIS’l’S :

l<eal htatc ........................................ $ 1,580,021 .ca

I :uiltliilgs aiid l:uilcliiig I<cluilmw~~t .................... 12,~995,735.94

Machines-y and all Whet IGluiyii~eiit .................. 19,066,545.35

$33,642,3 12.97

1 xss : Kesewc for lkpi-eciatioil ................. 13,135.978.45

Total l;ixetl ,-2ssets ........................ $20,506,334.52

SUN l>RY IS\‘13S’I’M15STS ............................ $ 567.480.06

I~EFEIUIEL) CH_‘IlZGES ............................... $ 377.820.56

LICENSES, I’~~\‘lT:sTS, T’,\‘I‘l’ST RI(;I ITS ,\Sl>

(;oormi r,l, ...................................... s 2,438,364.9-c

$68,727,313.53

192s

$ 2,3 11,703.56

22,966,200.34

18,533,203.03 I

$43,811,108.58

$ ts35,815.10

$ 1,487,713.%

12,724,082.53

17,428,544.85

$3 1,640,.141.23

11,105,884.17

$20,534,457.07

ti; 509.802.27

$ 367.916.12

$ 2,438,364.9-C

$68,497,464.08

U/P hu’ur uuditcd the books und retards of MACK TKUCKS, INC., AND SUL the ubozte Consolidated Bulance Sheet und uccompanyiny Statement of Earnings prepared there iurips at Drcember 31, 1929 and the consolidated rrsult of ofirrations for thr year prided thu

i\‘rw York, f’rhruury 17, 1930.

Notes l’ayalk ..................................... $ 2,000,000.00 A\c‘coullts I’ayal,le .................................. 2,805,512.47 ~\ccl-uetl iIccoullts .................................. 1,498,058.47 Customers Deposits ................................ 84,976.47

‘l‘c)t:tl C’urrcllt I .ial~ilities. . . . . . . . . . . . . . . . . . . . . . $ 0,X8.547.41 !$ 7,X99,246.03

l~l!ISl!Ilt\/‘lxs :

1; - 01- c ulTc11t \‘wr’s Il’cYlcl-al I11('0111c' ‘I‘;lsc~~. . . . . . . . . . . . .$ ,Y2O,OtH).o() l;or Contiiigeiicies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 050,972.75

‘l‘ot;11 licwr-vel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,370,972.75

I KS “‘\” 1(1.30-1940: IIIC. . . . . . . . . . . . . . . . . . . . . . . $ 2,200,wU.w

~AX&WY 01’ M lNOKlI.1 S’I‘OC’l<l 101,Dt~liS I S SUl’,SIDr~~KLES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 6,891.25

~‘L\l’L’l‘,\I, S’l’O( I\ :

COhl MON Autliorizetl - 1,000,OOO SlM-cs oi 11u pal- value

I ssued - -- 755,625 sl~ares ol 110 lxtr value >\llotted Ull-

tier subscrip tion contract- 24,428 shares

780,053 slxlres stated at $ 3,900,265.00 -

sulIl’l,us :

Capital Surplus, ’ being excess coiisideratioil on Coiiiiiioii Stock issued and allotted above value of $5 per share included in Stated Capital . . . . . . . . . . . . . . . . . . . . . . . . $29,45 1,196.81

Earned Surplus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,309,440.3 1

Total Surplwi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $54,760,637.12

$ 4,000,000.00 2,291,034.55 1,499,099.98

109,111.50

$ s 1 c~,ot~O.oo 1,000,259.44

$ 1,810,259.44

$ 4,735.OG

$ 3,902,270.00

$29,478,83 1.81 23,002,120.84

$52,480,952.65

$68,727,313.53 $68,497,464.08

fDIARIES for the yeur ended Dctemler 31, 1929, and ‘LL’C JIt~rl~hy tprtlfy t/rut, in our opinirjn, sm correctly set forth the consolidutfd financial position Of Jlutk Trucks, Inc., and Subsid- date.

CONSOLIDATED STATEMENT OF EARNINGS

1WK ‘1‘1 117 YE,\12 I<SDl<l, DECI~Ml:l~R 31, 1929

Net l’rolit fol- year after providin g for Ikpreciatioil but before provitling lor

licscl-vc f ol- Federal Income Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $7,661,068.55

Deduct :

Reserve for Federal Income Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 520,000.00

AT DECEMIXR 31, 1929

Total C’api tal

SURI’LUS AT DECEMI:ER 31, 1925,

per C-ertified Accounts. . . . . . , . . . , . . . . $52,480,952.65 $29,478,53 1 .$l

Add :

Net l’rolit for 1929 per accon1-

yanying Statement of Earnings. . 6,841,068.55

$59,322,021.20 $29,478,83 1.81

Deduct:

Cash Dividends on Conmion Stock

f ram Jmuary 1, 1929 to Decem-

lK!r 31, 1929 . . . . . . . . . . . . . . . * . $ 4,533,749.03

Cancellation of Common Stock

allotted to Employees. . . . . . . . . . 27,635.OO 27,635.OO

$ 4,561,384.08 $ 27,635.OO

SURPT,US AT DECEMBER 31, 1929 $54,760,637.12 $29,451,196.81

$6,841,068.55

CONSOLIDATED STATEMENT OF SURPLUS

Eariied

$23,002,120.84

6,841,068.55

$29,843,189.39

$ 4,533,749.0&i

$ 4,533,749.08

$25,309,440.3 1

-_- --_ -- - . - - - -- --- -I_

BOARD OF DTRECTORS

A. J. Brosseau, Chairman

F. B. Adams

W. A. Bradford

T. L. Chadhourne

Wm. E. Corey

H. W. Croft

IV. R. Edson

E. C. Fink

W. A. Bradford

T. L. Chadbourne

Wm. E. Corey

R. E. Fulton

Charles Hayden

R. F. Hoyt

W. E. Reid

J. E. Savacool

W, Hinckle Smith

Andrew V. Stout

Albert H. \2’iggin

EXECUTIVE COMMITTEE

A. J. Rrosseau, Chairman

Charles Hayden

W. E. Reid

Albert H. Wiggin

TRANSFER AGENT OF STOCK

Guaranty Trust C’ompany of New York, New York City

A. J. Brosseau, .

R. E. Fulton, .

E. C. Fink, .

A. F. Masury, .

W. R. Edson, .

J. E. Savacool, .

C. W. Haseltine, .

T. V. Homan, .

R. G. Castleman, .

I;. R. Harrison, .

I. G. Hopkins, .

H. S. Conklin, .

REGISTRAR OF STOCK

Bankers Trust Company, New York Citv

OFFTCERS

,

Preside1a t

. . . .

Vice Prrsidm f

Vice PresidelIt

Vice President

Vice President

Vice Pres. & Comptroller

Secretary-Treasurer

Asst. Sec. 81 Asst. Treas.

Asst. Treasurrr

Asst. Secretary

Asst. Treasurer

Auditor

MACK TYPIC 19-150 H.P.-1,000 GALLON CAPACITY CENTRIFUGAL PUMPING ENGINE

MRCK TYPE 19-TRACTOR DRAWN 85 FOOT AERIAL LADDER TRUCK

TVTTH MACK POWER HOIST

MACK TYPE 90-120 H.P. 750 GALLON CAPACITY ROTARY PI’MPINCI ENGINE

MACK GAS-ELECTRIC LOCOMOTIVE

MACK GAS-ELECTltlC RAIL CAR

BRANCHES

AKRON, 0. Mack-International Motor Truck carp 695 Johnston Street

ALBANY, N. Y. Mack-International Motor Truck Corp 1062 Broadway

ALLENTOWN, PA. Mack-International Motor Truck Corp

ALTOONA, PA. Mack-International Motor Truck Corp 2322 Union Avenue

ATLANTA, GA. Mack-International Motor Truck Corp 464 Spring Street, N. W.

ATLANTIC, CITY, N. J. Mack-International Motor Truck Corp New York & Reading Avrnu+-s

BALTIMORE, MD. Mack-International Motor Truck Corp 1210-28 E. 20th Street

BIRMINGHAM, ALA. Mack-International Motor Truck Corp 2501 Avenue “F”

BOSTON (Allston) MASS. Mack Motor Truck Co. 75 N. Beacon Street

BRIDGEPORT, CONN. Mack Motor Truck Co. 3240 Fairfield Avenue

BRIDGEPORT, PA. Mack-International Motor Truck Corp 25 West Fourth Street

BRONX, N. Y. Mack-International Motor Truck Corp Leggett Ave. & Barry Street

BROOKLYN, N. Y. Mack-International Motor Truck Corp 73 Empire Boulevard

BUFFALO, N. Y Mack-International Motor Truck COrp 1732-1740 Jefferson Avenue

CAMDEN, N. J. Mack-International Motor Truck COrp Jefferson Avenue & Sixth Street

CHARLOTTE, N. C. Mack-International Motor Truck COrp 1300-06 Mint Street

CHATTANOOGA, TENN. Mack-International Motor Truck CorP 1129 Fort Street

CHICAGO, ILL. Mack-International Motor Truck Corp. 33rd Street & Wentworth Avenue

CINCINNATI, 0. Mack-International Motor Truck Corp. 1223 West 8th Street

CLEVELAND, 0. Mack-International Motor Truck Corp. 7001 Carnegie Avenue

COLUMBUS, 0. Mack-International Motor Truck Corp. 517 N. Park Street

DALLAS, TEX. Mack-International Motor Truck Corp. 1900 S. Ervay Street

DAVENPORT, IOWA Mack-International Motor Truck Corp. Front & Brown Streets

DAYTON, 0. MILWAUKEE, WIS.

Mack-International Motor Truck COrP Mack-International Motor Truck Corp. ST. PAUL (Twin City) MINN.

124 Van Buren Street 4321-4331 Wisconsin Avenue Mack-International Motor Truck Corp. 2505 University Ave., Midway (Minn.)

DENVER, COLO. Mack-International Motor Truck Corp. 585 So. Broadway

DETROIT, MICH. Mack-International Motor Truck Corp. 5133 Grand River Avenue

DULUTH, MINN. Mack-International Motor Truck Corp. 215 East First Street

ERIE, PA. Mack-International Motor Truck Corp. 1921-23 State Street

FALL RIVER, MASS. Mack Motor Truck Co. 231 Bedford Street

FORT WORTH, TEX. Mack-International Motor Truck Corp. 505 W. Weatherford Street

FRANKFORD, PA. Mack-International Motor Truck Corp. Erie & Caster Avenues

FRESNO, CALIF. Mack-International Motor Truck Corp. 1652 “H” Street

GLENS FALLS N. Y. Mack-International Motor Truck Corp. Queensbury Boulevard

HARRISBURG, PA. Mack-International Motor Truck Corp. 724-728 South Cameron Street

HARTFORD, CONN. Mack Motor Truck Co. 709 Windsor Street

HOUSTON, TEX. Mack-International Motor Truck Corp. 1115 Chenevert Street

JACKSONVILLE,, FLA. Mack-International Motor Truck Corp. 114-124 Park Street

JERSEY CITY, N. J. Mack-International Motor Truck Corp. West Side Avenue at Newark Avenue

KANSAS CITY, MO. Mack-International Motor Truck Corp. 2605 Warwick Boulevard

KNOXVILLE, TENN. Mack-In,ernational Motor Truck Corp. 213 West Depot Avenue

LITTLE ROCK, ARK. Mack-International Motor Truck Corp. 315 West 12th Street

LONG ISLAND CITY, N. Y. Mack-International Motor Truck Corp. Anable Avenue & 34th Street

LOS ANGELES, CAL. Mack-International Motor Truck Corp. 20th & Alameda Streets

LOUISVILLE, KY. Mack-International Motor Truck Corp. 2311-2319 So. Brook Street

LOWELL, MASS. Mack Motor Truck Co. 39 First Street

MANCHESTER, N. H. Mack Motor Truck Co. 664 Chestnut Street

MEMPHIS, TENN. Mack-International Motor Truck Corp. 980 Jefferson Street

MIAMI, FLA. Mack-International Motor Truck Corp. 2101 N. Miami Ave.

NASHVILLE, TENN. Mack-International Motor Truck Corp. 801 Lea Avenue

NEWARK, N. J. Mack-International Motor Truck Corp. 1232 Broad Street

NEW HAVEN, CONN. Mack Motor Truck Co. 151 Orange Avenue

NEW ORLEANS, LA. Mack-International Motor Truck Corp. 1100 So. Jefferson Davis Parkway

NEW YORK, N. Y. Mack-International Motor Truck Corp. 64th Street and West End Avenue

NORFOLK, VA. Mack-International Motor Truck Corp. 204 W. 24th Street

NORWICH, CONN. Mack Motor Truck Co. 175 N. Main Street

OAKLAND, CAI+ Mack-InternatIonal Motor Truck Corp. 1902 East 12th Street

OKLAHOMA CITY, OKLA. Mack-International Motor Truck Corp. 3 East Tenth Street

OMAHA. NEBR. Mack-International Motor Truck Corp. 2752 Farnam Street

PATERSON, N. J. Mack-International Motor Truck Corp. 931 E. 24th Street

PHILADELPHIA, PA. Mack-International Motor Truck Corp. 42nd Street & Woodland Avenue

PHOENIX, ARIZ. Mack-International Motor Truck Corp. 523 West Washington Street

PITTSBURGH, PA. Mack-InternatIonal Motor Truck Corp Liberty Ave. & Gross Street

PORTLAND, ME. Mack Motor Truck Co. 4 York Street

PORTLAND, ORE. Mack-International Motor Truck Corp. 285 Oregon Street

PROVIDENCE, R. I. Mack Motor Truck Co. 1124 N. Main Street

READING, PA. Mack-International Motor Truck Corp. 1212 Moss Street

RICHMOND, VA. Mack-InternatIonal Motor Truck Corp. Boulevard & Leigh Street

ROCHESTER, N; Y. Mack-International Motor Truck Corp. 1357 University Avenue

SACRAMENTO, CAL. Mack-International Motor Truck Corp. 470 North 16th Street

ST. LOUIS, MO. Mack-International Motor Truck Corp. Chouteau & Jefferson Avenues

ARGENTINE Buenos Aires Tomas y Cia

BRITISH WEST INDIES Kingston, Jamaica Atlantic Fruit & SUgar CO.

COLOo~~IA

G. Pradilla y Cia Medellin R. E. Restrepo & Company Cali A. Aristizabal

EUROPE (ALL) The European Distributors of Mack Trucks 25 Broadway, New York, N. Y.

HAWAII Honolulu The von Hamm Young Co., Ltd.

PERU Callao Vulcan Iron Works

PORT0 RICO San Juan Territorial Mack Dealers. Inc.

SALT LAKE CITY, UTAH Mack-International Motor Truck 163 Motor Avenue

SAN FRANCISCO, CAL. Mack-International Motor Truck Eleventh & Howard Streets

SCHENECTADY,, N. Y. Mack-International Motor Truck 103 Weaver Street

SCRANTON, PA. Mack-International Motor Truck Wash. Avenue & Walnut Street

SEATTLE, WASH. Mack-International Motor Truck Ninth Avenue & Roy Street

SHREVEPORT, LA. Mack-International Motor Truck 2060 Texas Avenue

SIOUX CITY, IOWA Mack-International Motor Truck 825 Pierce Street

SPRINGFIELD, MASS. Mack Motor Truck CO. 1236-40 State Street

SYRACUSE, N. Y. Mack-International Motor Truck 923 W. Genesee Street

Corp.

Corp.

Corp.

Corp.

Corp.

Corp.

Corp.

Corp.

TACOMA, WASH. Mack-International Motor Truck Corp. 309 Puyallup Avenue

TAMPA, FLA. Mack-International Motor Truck Corp. Platt Street & Packwood Avenue

TOLEDO, OHIO Mack-International Motor Truck Corp. 2221 Detroit Avenue

TULSA, OKLA. Mack-International Motor Truck Corp. 105 North Boulder Avenue

UTICA, N. Y. Mack-International Motor Truck Corp. 65 North Genesee Street

WASHINGTON, D. C. -- Mack-International Motor Truck Corp. 57-59 “L” Street, S.E.

WATERBURY, CONN. Mack Motor Truck 1188 S. Main Street

Co.

WHITE PLAINS, N. Y. Mack-International Motor Truck Corp. 111 S. Kensico Avenue

WILKES-BARRE, PA. Mack-International Motor Truck Corp. 264 Carey Avenue

WORCESTER, MASS. Mack Motor Truck Co. 306 Belmont Street

YOUNGSTOWN,, 0. Mack-Internatlonal Motor Truck Corp. 1309 Logan Avenue

CANADA

MONTREAL, QUEBEC Mack Trucks of Canada, Ltd. 1501 St. James Street, West

TORONTO, ONTARIO Mack Trucks of Canada, Ltd. 1941 Yonge Street

VANCOUVER, B. C. Mack Trucks of Canada, Ltd. 1146 Georgia St., W.

CUBA

HAVANA Mack Trucks of Cuba, S.A. Avenida de la Republica 190 y 192

DEALERS

W. T. STEVENS, INC.

50 CHURCH STREET, NEW YORK CITY, N. Y.

Handling following countries: Africa

Australia

Borneo

Burma

Ceylon

Federated Malay States

India

Java

New Zealand

Siam

Strait Settlements

Sumatra

.i ?