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AC258_COMET_RICE_MILLS_MEMORANDUMTYRRELL HISTORICAL LIBRARY AC -258 The Comet Rice Mills Memorandum, 1952 Dates: 1952 (includes information from 1902-1952) Description Comet Rice Mills was originally incorporated in Texas on May 10, 1902, as the Seaboard Rice Milling Company. The company was located in Galveston and was founded by a local group headed by Waters S. Davis. Comet Rice Mills merged with the Steinhagen Rice Milling Company of Beaumont in 1939. Comet transferred its machinery and equipment to Beaumont and discontinued its operations at Galveston. The Beaumont operations of B.A. and E. Harvey Steinhagen were organized about 1927. The Comet Rice Mills Memorandum was prepared in February, 1952, by Duff, Anderson & Clark of Chicago, Industrial Security Analysts. It was prepared, the Memorandum states, "in connection with the proposed acquisition by Wonder Rice Mills, Inc., of Comet Rice Mills at a price of $2,800,000." Scope and Content The Comet Rice Mills Memorandum of 1952 is a 32 -page report of the operations and organization of Comet Rice Mills. It includes information concerning the history of the business, sales organization, plant and equipment, personnel and labor relations, earnings and profits, financial condition, management and control, and proposed financing. Balance sheets for the years 1942- 1952 are included, as are photographs of the plant The Beaumont plant was located at Cedar and Fourth streets and had a 1948 appraised reproduction value of $1,322,654. Included also in the report is a schedule showing dates various buildings were constructed, their descriptions, and their floor area. Processed by Jonathan Gerland, July 1996