Financial Record
Financial records from July 1, 1905 through January 1, 1910.
| As of | [1905]
July 1st |
1906
January 1 |
1907
January 1 |
[1907]
July 1st |
1908
January 1 |
1909
January 1 |
[1909]
July 1st |
1910
January 1 |
| Net assets | $ 50,000 ₁ | $ 68,119 | $210,328 | $291,333 | $264,087 | $243,195 | $334,262 | – |
| Finished vehicles | $ 15,400 ₂ | $ 23,100 ₁ | $ 87,549 | $124,156 | $131,001 | $ 67,367 | $154,548 | – |
| Factory equipment | $ 5,000 ₁ | $ 6,500 | $ 20,002 | $ 29,697 | $ 43,562 | $ 49,292 | $ 55,989 | – |
| Disbursements | – | $ 87,303 | $278,989 | – | $602,100 | $363,176 | – | $485,404 |
| Patterns & drawings | $ 10,000 ₁ | $ 10,000 ₁ | $ 19,755 | $ 25,000 | $ 27,342 | $ 53,659 | $ 60,295 | – |
| Cash & CODs | $ 5,240 | $ 6,203 | $ 12,750 | $ 23,970 | $ 13,790 | $ 11,596 | $ 13,901 | – |
| Gross Vehicle Sales | – | $ 83,859 | $254,638 | – | $576,048 | $303,524 | – | $344,371 |
| Gross Vehicle Repair | – | $ 5,609 | $ 16,098 | – | $ 47,498 | $ 61,864 | – | $ 66,528 |
| Total Gross Sales | – | $ 89,468 | $270,736 | – | $623,546 | $365,388 | – | $410,899 |
| Capital Stock | $ 30,000 | $ 50,000 | $100,000 | $200,000 | $200,000 | $200,000 | $200,000 | – |
| Surplus | $ 7,843 | $ 4,390 | $ 69,636 | $ 45,952 | $ 18,405 | $ 3,364 | $ 28,977 | – |
| Unpaid bills | $ 606 | $ 12,979 | $ 14,750 | $ 36,000 | $ 27,000 | $ 17,000 | $ 71,877 | – |
| Deposit on vehicles | – | – | $ 15,947 | $ 9,381 | $ 11,955 | $ 15,141 | $ 30,093 | – |
| Factory Payroll | – | $ 29,936 | $ 90,784 | – | $184,285 | $112,764 | – | $168,112 |
| Dividends | – | 66 2/3 % | 5 & 50% | – | 5 & 20% | – | – | – |
NOTES:
(₁) The HACo used an approximate number for these figures.
(₂) The HACo combined the Finished Vehicles plus the Parts less the Deposit on Vehicles not yet shipped in this instance.
It was stated on the 1 July 1905 statement that they planned to exhibit a vehicle in the February 1905 Chicago Automobile Show as well as the February 1906 Show.
It was stated on the 1 January 1906 statement, that they were planning for additional manufacturing space.
In 1905, -06, -07 & -08, they included income from the exclusive licensing to manufacture under the Holsman patents. The total amount for the 4 years came to $ 93,332. It is not known what patents were involved.
From the above it may be seen that their best financial year was 1907 when the disbursements were 95.6% of gross sales, and the factory payroll 29.6% of gross sales. Their poorest year was 1909 with the disbursements 118.1% of gross sales and their factory payroll 40.9% of gross sales.