stefansson-wrangel-09-36-005-001

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THE STEFANSSON ARCTIC EXPLORATION & DEVELOPMENT COMPANY LIMITED

BALANCE SHEET

As at 30th June 1922.

ASSETS
Accounts Receivable:-
Jafet Lindeberg		$ 775.00
Allan Crawford		192.98
Milton Galli		156.00
		$ 1,123.98
Union Bank of Canada - Current Account		17.84
Profit and Loss Accounts:-
General Expenses and Salaries	$ 17,232.44
Expense - Outfitting	4,331.58
"Silver Wave", Charter	2,617.35
Stationary and Office Supplies	110.59
Interest, Discount & Exchange	643.22
		24,935.18
		$ 26,077.00

LIABILITIES
Capital:-
Authorized, 1,000 Shares of $ 100.00 each	$ 100,000.00
Issued, 239 Shares fully paid in cash		$ 23,900.00
Sundry Creditors:-
Loans with accrued interest	$ 1,070.70
Salaries outstanding	760.00
Received on Account of Shares not yet issued	250.00
Sundry Accounts	96.30
		2,177.00
		$ 26, 077.00

We have examined the Accounts of the Stefansson Arctic Exploration
and Development Company Limited from 23rd June 1921 (date of Incorporation) to
30th June 1922, and we hereby certify that the foregoing Balance Sheet is, in our
opinoon, properly drawn up so as to exhibit a true and correct view of the state
of the Company's affairs as at 30th June 1922, according to the best of our
information and the explanatons given to us and as shown by the Books of the
Company.

Vancouver, B. C.
19th July 1922

Buttar + Chiene
Chartered Accountants.

COPY

THE STEFANSSON ARCTIC EXPLORATION & DEVELOPMENT COMPANY LIMITED

BALANCE SHEET

As at 30th June 1922.

ASSETS
Accounts Receivable:-
Jafet Lindeberg		$ 775.00
Allan Crawford		192.98
Milton Galli		156.00
		$ 1,123.98
Union Bank of Canada - Current Account		17.84
Profit and Loss Accounts:-
General Expenses and Salaries	$ 17,232.44
Expense - Outfitting	4,331.58
"Silver Wave", Charter	2,617.35
Stationary and Office Supplies	110.59
Interest, Discount & Exchange	643.22
		24,935.18
		$ 26,077.00

LIABILITIES
Capital:-
Authorized, 1,000 Shares of $ 100.00 each	$ 100,000.00
Issued, 239 Shares fully paid in cash		$ 23,900.00
Sundry Creditors:-
Loans with accrued interest	$ 1,070.70
Salaries outstanding	760.00
Received on Account of Shares not yet issued	250.00
Sundry Accounts	96.30
		2,177.00
		$ 26, 077.00

We have examined the Accounts of the Stefansson Arctic Exploration
and Development Company Limited from 23rd June 1921 (date of Incorporation) to
30th June 1922, and we hereby certify that the foregoing Balance Sheet is, in our
opinoon, properly drawn up so as to exhibit a true and correct view of the state
of the Company's affairs as at 30th June 1922, according to the best of our
information and the explanatons given to us and as shown by the Books of the
Company.

Vancouver, B. C.
19th July 1922

Buttar + Chiene
Chartered Accountants.