New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-09-29
financial.
MAGEE FURNACE CO
SMITH AND STOVE COMPANY.


teced BY Patent and the weknown trade marks
''MaCec" and The Hub"
MAGEE FURNACE COMPANY.
Tho property this company b freehold situated %
Chelsea Mass. comprising about 1864 square feet OF
land deep water frontage Of $50 feet The build
ngs go In numbep are mostly brick. and consist Of
moulding casting. plating fitting and inspecting depart
menns. also boiler and machinery houses
The works lighted throughout by electricity plant for
this purpose having RECENTLY laid down. The wharf
has depth 10 feet Of water low tide enabling the
company to receive all supplies ron COAL lumber. &c.
by vessel
THE SMITH l. ANTHONY STOVE COMPANY.
The freehold premises company located II
waAeAed and comprise Ave acres OF land with 'front.'
age Of 6is feet on railway on which are 10 buildings
equipped the modern machinery TOOLS pattarns
&C., making the best plant Of its size in the county, To-
geher the lately added brass foundry and hoe anG
kitchen furnishing business Both companies have ware
rooms or wholesale agencies in Boston, New York Chcseo
Kansas City, Minneapolis Grand Rapids and San Fran
cisco.
The magnitude Of business done b. these two COM
panies measured to extent BY the fact has
they keep employed during the whole 625 workmen
THE ACCOUNTS OF THE TWO COMPANIES
HAVE BEEN EXAMINED on THE SPOT BY AREP.
REsENTATIvE OF TIE FIRM OF MEssRs. HART
BROS, TIBBETTs & CO.. CHARTERED ACCOUNT.
ANTS OF II MOORGATE.sT. LONDON, AND
THEIR REPORTIsHOws THAT THE PROFITS
ARE AS FOLLOWS:
IL MOORGATE ST,
APRIL, 1890.
TO TIE DIRECTORS OF THE AMERICAN STOVE
ANDFURNACE CO., LIMITED.
GENTLEMEN: WE HAVE EXAMINED The
BOOKS or THE MAGE FURNACE CO.. AND THE
SMITH g. ANTHONY STOVE CO., BOTH OF BOs..
TON, FOX THE THREE YEARS ENDING DEC. 81,
1889.
AFTER MAKING CERTAIN ADJUSTMENTS IN
TIE ACCOUNTS. AND SUCH RESERVES FOR DE.
pRECIATlOH OF MACHINERY. PLANT AND PIX.
rURE, A. APPEARED TO Us TO BE NECESSARY.
WE FIND THAT THE NET PROFITS WERE As
FOLLOWS.
Year ending Dec. 81, 1887, $751;
243.43; at S4.85 to the { sterling,
3d. 28.
Year ending Dec. 81, 1888. S172..
457.42; at s4.85 to the 6 sterling,
$3.50.
Year ending Dec. 81, 1889. $685..
029.19; at $4.85 to the 6 sterling,
$3.50.
We are. Gentlemen. your obeiiens servants.
HART Bros, HIBBETTS & CO.
Taking tho profits of the last year as q
basis of calculation, the figures will stand
as follows:
To pay per cent. on the G125,000
Mortgage Debentures will require per an
mum $500.
To pay psr cent. on the &125, 900
Preference Shares will require per annum
$4,000, and leave more than sufficient
pay a dividend of Is per cent. on the
Ordinary Shares.
n" compan. hitherto b'"n strong comr"titor
'u, undr TIN, amslsar an goat economy N wrSnS Will
b. Effected The lnn'iiat" SAVING N u" item Of show
rooms. -aar."-, and at'rtlsng expenses 10
estimated a: $1,000. Tn Development o. tn" "rhen
urt.hn, and brass good, d." should also largely
Increase ia" profits.
Tn" lard and hrii!ngS OF he TWO companies haVS
been aipraS'i AZ ;""''- W. RIM inc MA n'h'''' "''
i't' rnN aa>h> g a. 9'i'" MAKING to'a OF s'o4 Si-
- - - TO III i-und sIs8.t?7
In adil'"a 10 we a"''' '"' '""i'" acquire p''n"
"hch appear IN u' ""H' "' inc ''s'"'"N companies I"
Do ~ III" c>tinatd N2'' "i @i'l' also norses' vans
tools. designs. 4, o. III" vain" OF LAO
Tho price h paid 10y the company for thu Who'll" Of
tn lroprrth> with thN 'nt" assets 'Nccp, 'he book
counts cash. tt, r"c"ivable and goods anHac'urd
and IN course OF ns"H'a'?" mas p'h "N' al |-''oov'
ana Inc >'"o"F mas 'I'''' u '''p' - MAJ" VI Jaw y"
"
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