Auditor's Statement for A.C. Monk & Company

Auditor's Statement for A.C. Monk & Company
Auditor's statement of condition for A.C. Monk & Company, dated July 13, 1920. It lists several line items of assets and liabilities; how much each of those is worth, and was prepared by the accounting firm of Pullen Henderson & Company. A. C. Monk and Company was founded in Farmville in 1907 by Albert Coy Monk. After weathering the panic of 1907, the company flourished by concentrating on foreign markets and steadily grew to become one of the world's largest independent dealers and exporters of flue-cured tobacco.
July 13, 1920
Original Format
financial records
13cm x 25cm
Local Identifier
Location of Original
East Carolina Manuscript Collection
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Fred Harrison Jan 03 2017

Originating just prior to WWI under the name Monk Adams Company, Wilson, N.C, A.C. Monk & Company officially began business in Farmville, N.C. on May 10, 1922.The company’s records recently donated to the East Carolina Manuscript Collection attest to a continuous period of impressive growth. The firm soon became one of the nation’s leading dealers in leaf-tobacco.According to Albert Monk III, grandson of A.C. Monk, the company’s initial wealth relied heavily on diverse business interests: namely, farmland, a furniture store and funeral home. In the late 1980s; however, it was decided that in order to grow, the company had to get bigger.As such, on July 13, 1990, the business merged with a competitor to form Monk-Austin Inc. Another merger later that decade resulted in the creation of DIMON Inc. which emerged to become the second largest leaf-tobacco merchant in the world. Monk family members retained some indirect ownership in this entity until its eventual acquisition by Alliance One in the early 2000s.On view here is an auditor’s statement from July 13, 1920, one of a nearly intact collection of business papers spanning from approximately 1916 to the early 2010s. Company founder, A.C. Monk, Sr. died on June 6, 1948. Sons, Albert C., Robert Turnage and William C. succeeded him.

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