St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-12-03
ST. PAUL NEWS.
MINNESOTA THRESHER co.
4 New Corporation with s7,0O0,000
Capital.
as Successors Of the Northwestern Car and
Manufacturing Company.

Mr.. A. B. Stckney, president OF the Min
nesota and Northwestern Railroad company,
returned 10 st. Paul yesterday afternoon
from Boston, where he succeeded in the i'm
portsnt work of incorporating the Minnesota
Thresher Manufacturing company. The
articles appear entire in our
advertising columns this morn
ing. The object Of the Incorporation is TO
purchase the capital stock, evidences of in
debtedness and assets Of the Northwestern
Manufacturing and Car company, and
to manufacture and sell steam
engines and other agricultural machinery.
As viii be seen the corporation has in view
the reorganization of the Car Works com
pany at Saltwater, and while the
shops of the new company win re-
main at the latter place, the principal bust
ness offices will be located in st. Paul.
The capital stock of the Thresher Manufac-
turing company is $1,000, 600, divided into
140,0O0 shares of $50 each. The
stock will be issued in two classes, and
will be known as preferred and
common. The former will be issued TO the
extent OF 81, 900, 600 or so, 600 shares of $50
to the amount of 50, 600, 900 or 60, 900 shares
of $50 each.
The preferred stock will be entitled to
dividend not to exceed per cent. per an
nun, commencing January 1, 1885. This
dividend is payable before dividend can be
declared on the common stock, and in the
event of a surplus after both dividends have
been paid, then both the common and pre-
ferred stock will participate equally.
The business existence OF the new corpor-
alton dates from the Goth day of last Novem-
Der and is to continue thirty years, and the
affairs of the concern will be managed by a
board Of directors Of thirteen stockholders.
The first election of officers viii take place
on the third Wednesday of June, 1885.
BOARD OF DIRECTORS.
Until that time the following have been
selected to officiate as the first board Of direc-
tors:
Ezra Farnsworth OF the Boston Nation al
bank, John g. Fogg, of Fogg Bros. 81 Co.,
Boston; Francis A. Osborn, Of the fremont
National bank, Boston; Samuel r. Payson,
of the National City bank, Boston !;
John B. Bacon, Of the First
National bank of Chelsea, Vt. /;
Gustavus F. Davis, of the City National
bank, Hartford; VIM. H. Rhawn, of the
National Bank of the Republic, Philadelphia;
Alpheus B. Stickney, president of the Min :
nesota d Northwestern Railroad company
Roscoe f. Hersey, of Hersey, Bean 81 Brown,
saltwater; W. Z. Rice, of the City National
bank, Worcester, Mass. o. ID. Baldwin, of
the Fourth National bank, of New York,
Abram o. Bigelow, of the Massachusetts,
National bank, Boston and Ed. f. Lawrence !;
OF the First National bank, Chicago
In conversation with Mr.. Stickney that
gentleman said that a meeting of the credi-
tors of the Northwestern Manufacturing &
Car company of Saltwater, had been held in
Boston on the 25th of November at which
$4,000, 900 of Indebtedness had been repre-
sented. IL had been decided to reorganize
the business and a committee appointed to
prepare plans had reported the cay following
the result being the incorporation of the new
company as outlined above.