[Letter from D. W. Kempner to Mrs. Oakleigh L. Thorne, June 4, 1954] Page: 3 of 4
This letter is part of the collection entitled: Harris and Eliza Kempner and was provided to The Portal to Texas History by the Rosenberg Library.
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Mrs. Oakleigh L. Thorne - 2 u 41
Book values on December 31, 1953 were:
H. Kempner
Sugarland Industries
total
Texas Imperial Co.The combined values above total
but to all of this should be added
over and above the value that
the Texas Prudential Insurance
shares on its books and which
grand total$ 6,478,459.74
3,083, 161.58
$ 9, 561, 621.32
$ 6, 474, 832. 00 (for Kempner's 86%)
$16, 036, 453. 32
$ 3, 178, 846. 00 which is the amount
H. Kempner carries
Company's 29,424
it is easily worth,
$19,215,299.32I have no hesitancy in saying that the insurance company could
be easily sold at $6, 000, 000. 00 or more. From all of this you will
see that there is a very sound, healthy situation of the Kempner Interests
of various kinds and investments extending in many directions, and all
that is now required is proper management and no recessions, deflations
or panics but all of necessity must be dependent on conditions existing
at the time.
The Industries is worth more than book value as the land and
cattle are both carried on a very low basis and could easily be sold at
more.
The Sugar Company is worth more than book value by reason of
its earning ability, being the only cane sugar refinery between the
Mississippi and the West Coast.
On the other hand, as usual we have some very severe losses
facing as in West Texas and Japan.
I recommend that you keep these papers in your private personal
bank box and treat them as strictly personal. This gives you a fairly
accurate picture of conditions as they now exist.
Love,from
Encls.
22_ ti
N
_
;June 4, 1954
'-
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Kempner, Daniel W. (Daniel Webster), 1877-1956. [Letter from D. W. Kempner to Mrs. Oakleigh L. Thorne, June 4, 1954], letter, June 4, 1954; (https://texashistory.unt.edu/ark:/67531/metapth1477316/m1/3/?q=%22%22~1: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Rosenberg Library.