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公司传承
1964年10月3日
1929年，多家具有共同所有权的纺织企业合并为伯克希尔棉纺制造公司（成立于1889年），随即更名为伯克希尔精细纺纱联合公司。参与合并的工厂包括：谷瀑公司（1853年成立）、考文垂公司（1865年成立）、灰锁纺织厂（1880年成立）以及杜默堡纺织厂（1910年成立）。尽管文件记录并不完整，但据信这些公司的前身最早可追溯至1806年便开始运营。
原文
Corporate Genealogy
October 3, 1964
In 1929, several textile operations with much common ownership were amalgamated with Berkshire Cotton Manufacturing Co. (incorporated 1889), immediately renamed Berkshire Fine Spinning Associates, Inc. The merging mills were Valley Falls Co., Coventry Co., Greylock Mills, and Fort Dummer Mills, incorporated in 1853, 1865, 1880 and 1910 respectively. Although the documentation is not perfect, it is believed that the earliest progenitor of these corporations began business in 1806.
合并后的企业规模庞大，占据了当时全美精细棉纺织品产量的约25%。20世纪30年代，其下属众多工厂的用电量约占新英格兰各州总发电量的1%。然而，规模并未带来相应的盈利，优先股股息在1930年末被取消，此后六年间也未能发放。
原文
The resulting operation was a giant, accounting for about 25% of the countrys fine cotton textile production. In the 1930s its many mills utilized approximately 1% of the electric output in the New England states. But profitability did not follow volume and preferred dividends were omitted late in 1930 and for six years thereafter.
第二次世界大战及战后初期，公司实现了异常丰厚的利润，资产负债表实力也大为增强。1955年，总部位于新贝德福德、同时生产合成纤维和棉纺织品的哈撒韦制造公司，并入伯克希尔精细纺纱联合公司，并随即更名为伯克希尔哈撒韦公司。哈撒韦公司由霍雷肖·哈撒韦于1888年创立，最初股东包括海蒂·格林，她持有6%的股份。
原文
World War II and the immediate postwar years produced extraordinary profitability and great balance sheet strength. In 1955, Hathaway Manufacturing Co., a New Bedford based manufacturer of both synthetic and cotton textiles was merged into Berkshire Fine Spinning and the name was immediately changed to Berkshire Hathaway Inc. Hathaway was founded in 1888 by Horatio Hathaway and included Hetty Green as an original shareholder with 6% ownership.
合并后的企业拥有超过1万名员工，旗下厂房面积接近600万平方英尺。但随后的财务表现，与1929年那次盛大合并后的惨淡光景如出一辙。
原文
The combined enterprise had over 10,000 employees and owned close to six million square feet of plant but the subsequent financial record was just as dismal as that which followed the previous grand consolidation of 1929.
合并后，伯克希尔哈撒韦公司截至1955年9月30日财政年度末的简要资产负债表如下：
| （单位：美元） | |
|---|---|
| 资产 | |
| 现金 | 4,169,000 |
| 有价证券 | 4,580,000 |
| 应收账款与存货 | 28,918,000 |
| 物业、厂房及设备净值 | 16,656,000 |
| 其他资产 | 1,125,000 |
| 资产总计 | 55,448,000 |
| （单位：美元） | |
|---|---|
| 负债与股东权益 | |
| 应付账款与应计费用 | 4,048,000 |
| 股东权益——2,294,564股流通在外；每股账面价值22.40美元 | 51,400,000 |
| 负债与股东权益总计 | 55,448,000 |
原文
After the merger, Berkshire Hathaways summarized balance sheet was as follows at its fiscal year-end September 30, 1955:
| Assets | |
| Cash | $ 4,169,000 |
| Marketable Securities | 4,580,000 |
| Accounts Receivable and Inventories | 28,918,000 |
| Net Property, Plant and Equipment | 16,656,000 |
| Other Assets | 1,125,000 |
| $55,448,000 |
| Liabilities and Stockholders Equity | |
| Accounts Payable and Accrued Expenses | $ 4,048,000 |
| Stockholders Equity — 2,294,564 shares outstanding; book value $22.40 per share | 51,400,000 |
| $55,448,000 |
在随后的九年里，伯克希尔哈撒韦公司的总销售额约为5.3亿美元。这九年期间股东权益的对账情况如下：
| （单位：美元） | |
|---|---|
| 截至1955年9月30日的股东权益 | 51,400,000 |
| 资本公积增加 | 888,000 |
| 1956-64年经营累计净亏损 | (10,138,000) |
| 1956-64年支付的现金股息 | (6,929,000) |
| 普通股回购 | (13,082,000) |
| 截至1964年10月3日的股东权益 | 22,139,000 |
原文
During the nine following years, sales of Berkshire Hathaway Inc. aggregated approximately $530 million. A reconciliation of shareholders equity for these nine years follows:
| Stockholders equity at September 30, 1955 | $51,400,000 |
| Additions to capital surplus | 888,000 |
| Aggregate net loss-from operations 1956-64 | (10,138,000) |
| Cash dividends paid 1956-64 | ( 6,929,000) |
| Repurchases of common stock | (13,082,000) |
| Stockholders equity at October 3, 1964 | $22,139,000 |
伯克希尔哈撒韦公司截至1964年10月3日的简要资产负债表如下：
| （单位：美元） | |
|---|---|
| 资产 | |
| 现金 | 920,000 |
| 应收账款与存货 | 19,140,000 |
| 物业、厂房及设备净值 | 7,571,000 |
| 其他资产 | 256,000 |
| 资产总计 | 27,887,000 |
| （单位：美元） | |
|---|---|
| 负债与股东权益 | |
| 应付票据 | 2,500,000 |
| 应付账款与应计费用 | 3,248,000 |
| 负债合计 | 5,746,000 |
| 股东权益——1,137,776股流通在外；每股账面价值19.46美元 | 22,139,000 |
| 负债与股东权益总计 | 27,887,000 |
原文
Berkshire Hathaway Inc.s summarized balance sheet at October 3, 1964 was as follows:
| Assets | |
| Cash | $ 920,000 |
| Accounts Receivable and Inventories | 19,140,000 |
| Net Property, Plant and Equipment | 7,571,000 |
| Other Assets | 256,000 |
| $27,887,000 |
| Liabilities and Stockholders Equity | |
| Notes Payable | $ 2,500,000 |
| Accounts Payable and Accrued Expenses | 3,248,000 |
| Total Liabilities | 5,746,000 |
| Stockholders Equity — 1,137,776 shares outstanding; book value $19.46 per share | 22,139,000 |
| $27,887,000 |