Works Publishing, Inc. Report of June 30, 1940 - Signed by Bill Wilson to Willard Richardson

Works Publishing Stock Report

June 30, 1940

Signed by Bill Wilson to Willard Richardson

This stock report pamphlet has been inscribed and signed by Bill Wilson! The inscription reads:

”Dear Mr. Richardson- This report was made at the time Works Pub was incorporated. It will give you the complete background. Bill W.”

Here are several excerpts from the Stock Report that you may find very interesting and learn more about how AA was raising and spending money in 1939-1940:

“We wish to thank those who have contributed stories, funds or services to the preparation of the book "Alcoholics Anonymous". Especially appreciated is the patience with which subscribers have awaited this, our first report.

The following pages set forth something more than a conventional statement to stockholders. We propose to review the entire book project from its inception, describing in detail the several stages of its development. In addition, a full accounting of all monies received and paid in connection with the book will be made.

Demand for the book particularly since January 1st of this year, suggests that Works Publishing Inc. will, within a reasonable time, settle its obligations, return subscribers their investment, and later pay a dividend to them and to The Alcoholic Foundation. The Alcoholic Foundation is the national headquarters for Alcoholics Anonymous.

It is directed by seven trustees who maintain an office at 30 Vesey Street, New York City, to handle correspondence, inquiries and the book. Four of the trustees are business and professional men, not members of Alcoholics Anonymous. Three trustees are chosen from the A. A. membership. All serve without compensation.

* * * * *

About two years ago it became evident to many members of Alcoholics Anonymous that their group experience and methods would be still more effective if published in book form. It was felt that such a book might act as a guide for new centers and for the isolated alcoholic who could not be reached by personal contact. Moreover, a carefully prepared volume would always prevent distortion of the principles of Alcoholics Anonymous by indiscriminate publicity.

One of our older members, Mr. Wm. G. Wilson, was delegated to assemble material and write the text. After long discussion, it was decided that The Alcoholic Foundation ought to publish the volume if possible.

It was originally believed that The Foundation might secure sufficient funds to print the book, support an office, a secretary and Mr. Wilson during the many months required for its preparation. Under these conditions it was planned to distribute the book at cost, but after three months of persistent effort to secure contributions to The Alcoholic Foundation for this purpose, the idea had to be abandoned as it was found that no money could be raised for The Foundation at that time.”

—

Quite aside from shipping 2,847 copies of "Alcoholics Anonymous", The Foundation office has answered, during the past year, about two thousand pleas for help responding to each by personal In many instances, correspondence has developed aiding the formation of new centers, there now being twenty-two places in the United States where meetings are held. We are also in touch with individuals who report having recovered with the aid of the book alone. It is confidently expected that many additional Fellowships will form during the coming months to whom the book and correspondence from New York will be helpful. The total membership of Alcoholics Anonymous, scarcely one hundred alcoholics eighteen months ago, is soon expected to reach one thousand, so rapid is present growth.

*Works Publishing, Inc. was originally called "The One Hundred Men Corp."

—

“A heavy demand continues for the new "A. A." pamphlet of which 5,000 copies have been mailed in the last ninety days.

It is pleasing to note that the book and The Alcoholic Foundation have already proved more effective than at first seemed possible.

Returning to the financial status of Works Publishing, Inc:

Those who subscribed cash for $25 par value stock of the company, will recall that, subject to office expense and a royalty of 35 cents a volume to be given The Alcoholic Foundation, profits were to be applied to debts and to repayment of cash subscriptions before any dividends could be declared on the total stock outstanding, of which it was planned that cash subscribers were to have one-third, Mr.

Wm. G. Wilson, author, one-third, and Mr. Henry G. Parkhurst, business manager, one-third.

As trustees of The Alcoholic Foundation and as present officers of Works Publishing, Inc., we are pleased to announce that Mr. Wilson and Mr. Parkhurst have declined to accept any stock for their services and have directed that four hundred shares which they otherwise might have received be issued by Works Publishing, Inc. to The Alcoholic Foundation.”

—

“The following have served to effectively publicize the book and the work during the past year.

Gabriel Heater on "We the People" program, articles appearing in Liberty, Your Faith, Your Life, Time, Newsweek, New York Times Book Review, Mr. Rockefeller's dinner for Alcoholics Anonymous, news articles on the recovery of Rollie Hemsley, catcher for the Cleveland Baseball Club, review of the book by Dr. Harry Emerson Fosdick, the Cleveland Plain Dealer series of articles, comment by Dr. Dilworth Lupton, the Washington Star series, the Houston Press, Texas newspaper series, together with many syndicated pieces.

Though these articles have sold many books, they have also brought a message of hope where there had been none, and have led directly to the recovery of several hundred alcoholics.”

 —

“There is evidence that Alcoholics Anonymous will be favored with much more publicity during the next twelve months including, we believe, some pieces in magazines of national circulation.

The book appeared in April 1939, the first printing by Cornwall Press numbering 4,730 volumes, of which 2,405 have been sold at a return to Works Publishing of more than $2.50 each.

There are 163 books outstanding against accounts receivable. In addition 279 have been distributed free of charge, mostly for review and publicity purposes, leaving on hand 1,883 copies. This makes a total of 2,847 books in circulation as of June 30, 1940. Sales are effected by direct mail, jobbers, and book stores. Though we maintain 30 day credit arrangements with approximately one hundred and fifty outlets, there has been no loss from such sources.”

—

“Works Publishing has recently been incorporated. Its officers and directors are: Herbert F. Taylor, President, Horace Chrystal, Vice President, and Ruth Hock, Secretary and Treasurer Mr. Taylor and Mr. Chrystal are trustees of The Alcoholic Foundation as well. Miss Hock has charge of correspondence and books at The Foundation office.

The text of the book was dictated to her in the beginning and she has ably looked after its affairs since.

—

“Since January 1940 book sales have seldom dropped below forty volumes a week as against ten or fifteen one year ago. Following effective publicity such as the Rockefeller dinner, sales have risen to 100 books or more weekly. After all overhead, Works Publishing, Inc. has averaged a profit of $135.00 per month since Jan. 1, 1940. These current profits are being used to liquidate liabilities and to accumulate cash in preparation for the printing of our next edition.”

—

“There is reason to believe that we shall ship 3,000 books during the next twelve months perhaps as many as 5,000. We confidently hope that one year from today the book will be entirely free of debt and that cash subscribers will then begin to receive returns.

In conclusion, we wish again to thank Mr. Towns, Mr. Cochran and our many lesser subscribers who months ago at considerable personal sacrifice financed a book not then even written. May their faith in "A. A." continue to be justified!”