-452-


 Tnen the Coae Authority activities x:ere suspended
1"ay 27, 1235 a report of audit for the first budgetary period
ended i.arch 26, 1935 uas in course of -reparation by Hones & lo.vis,
Certified Fublic Accour.tuats of 521 Fifth Avenue, Uev York. The
latest interim audit report by these accountants -7as for the period-
fro.- .P.rch 26, 1234 to February 28, 1935 (see files of Code- Auth-
orities Accounts Section) fron whichh the following is summarized:

Ladies' Handbag'Code Authority, Liarch 26, 1934 to February 28,1935:

Incorne:


Assessrients of 1/3 of 1Lo on manufacturers'
 Re-norted Sales of $28,166,893.00

Advances against Past Due As-essnents
Advances against Pebruary Assessments


Sales of 335,225 Retail Labels
Less cost of Retail Labels sold


$588.10o
 46.41


Total Incone


$93,839.66

 3 636.69
 7,731.25


 541.69

$105,799.29


Ez::,enses:


 Cost of 28,334,700 Labels issued
 to manufacturers

 Salaries: Administration, Con-
 pliance and General

 Rent c: Other Operating Expenses

 Office Equipment & Organization
 Expense

 Total E:.penses

Surplus of Income over Expenses


811,228.56


34,078.27

12,356.20


 7,911.41


$ 65,574.44

$ 40,224.85


 Financial Operations

 At February 28, 1935 the Code Authority had accumulated
a surplus of Income over expenditures amounting to $40,224.85
which '7as reflected as follows:


Cash Balances
Due fro:- Hindbag i.;anufacturers
Travelling Fund (Redeposited
 3/4/35)
Insurance Premiuns Unexpired
Inventory of Labels on Hand
Total Assets


9811


$42,690.71
 614.43

 345.27
 220.00
 244.03
$44,114.44