SERVICE COMMERCIAL ARMES ET C@oucuss © Continental Arms Corp. Importer and Wholesaler FIREARMS — | Neil K. Kennedy, Vice ESTIMATED WORTH: Declined PAYMENTS:purchases made Financial Rating: Pres.-Secr. N-Qs 60 57 SYNOPSIS President previously principal in line active here in investing and advisory BACKGROUND: Chartered 1949. three years. Other officers capacity. CONDITION: A. Theodore Tonkin, Pres. Ivan Howard Cohen, Treas. Directors: the officers | EST.SALES: in excess of $100,000 on open account, “from abroad. details are (annually) withheld. HISTORY This cooporation was chartered under New York laws on March 25, I949 with an authorized capital of 700 shares consisting of 500 shares of preferred stock, par value $100 per share and 200 shares of common stock without par value. A. Theodore Tonkin is 45, single and native born. He started in business with his brother, Joseph Tonkin during november 1933 trading as Tonkin Bros., investhent securities. That firm was originally located at 49 Wall street and later moving to I Wall street and 70 Wall street. Tonkin Bros. was dissolved during the early part of [942 when the brothers entered the United States Armed Forces. A. Theodore Tonkin received his discharge at the end of 1946 at which time, he commenced operations individually at 42 Broadway, as an importer and wholesales of firearms continuing until his individual business was succeeded by the subject corporation. Neil K. Kennedy is in his late forties, born in Scotland, coming to the U.S. some years ago. He is a well known skeet shooter, and is reported to be a man of substantial means. For some years, he was engaged as the U.S. Purchasing Agent for the Indian Government. At the present time, he appears as the President of Madilavial and C° Ltd. at 25 Broadway, Steamship agency with branches in Bombay, London and Calcutta. No intercompany relations such as loans, advances, guaranties or endorsments are reported. In addition, he was an orfanizer of the India Steamship Lines with headquarters in Bombay, India.” He is active here as an investor only. as Ivan Howard Cohen with offices an attorney. He.is. active here. at 25 Broadway, N.Y. City, he only in.an advisory. capacity. is active OPERATION = LOCATION Engages as an importer and wholesaler of sporting arms, ammunition and shooting accessories (U.S. Standard Classification 50ZZ). In this connection, the subject corporation is engaged as representatives for the following firms: Arms Factories, Belgium; Jamart and C°, Belgium; De Fourny Severin, Belgium and A.J. Defourny, Belgium. All purchases are made on open account from abroad. Sales in the U.S. are made to about 500 to I000 accounts, consisting of sporting goods retailers, located throughout the U.S., consisting of terms 2-10-Net 30 day terms. Tonkin is active in the management of the business and five are regularly employed and in addition ten full time and part time commision salesmen are employed. Seasons are fairly steady throughout the year. Rents office and showroom space on the fifth floor of a five story office and store building maintained in good repair and located on an active shopping thoroughfare of midtown Manhattan. .