The sun. [volume] (New York [N.Y.]) 1833-1916, 1890-06-29


For the purpose Of extending the Manufacture OF
Okonlte Wires to this countryWhch Ia the main reason
of i being possible to obtain the above business-the
welLknown wire and cable works of hessrS Shaw
Connolly of Newton Heath Manchester have been also
acquired.
The two businesses will be taken over ~ GoinE con-
Germs from LIST January. 1890 from which date the
profits made viii be for the benont Of this company.
AMERICAN BUSINESS.
oKoN1TE.
Tho American business carried on consists in tho
manufacture OF Okonito covered wires and cables,
which are applicable for Telegraph Telephone Electric
Light and other purposes whether for aerial subma-
rno. underground This wire, covered with the
compound known Okonite, has been found by ever
increasing not only to have very high Insulating
quality, but to possess many other Advantages over
wire covered in the ordinary manner including that
OF being produced At much lower cost than the best
qualities made by present processos
1t Ia further claimed by the Ohonito Company that
the insulated wire manufactured by them possesses
superiority OF insulation durability touRhnesa and
resistance To the dscomposing influence OF the Gle
mentS which have so destructive an effect upon most
insulated wires after exposure and usei that they
stand a higher test for insulation than any other
practical medium used for this purpose, and that they
not susceptible to bad effect from extreme heat or
cold.
AMERICAN FACTORY.
Tho extensive factory Is situated at PscsAic, New
Jersey. about twelve miles from New York; entirely
new having been only Just constructed 10 replace one
insufficient to meet the growing trade and demand for
Its products this and other inc dental buildnEs plant
machinery, stockint trade trade marka and patentA
for various Countries with the valuable good will and
contracts in hand, will be taken going con-
The factory and buildings are held on n 900 years.
lease free of rent and only subject to water power
charge OF $4,000 per annum for over 40ohorse power,
available might and day. being tho low rate Of less
than Ct per horse power per annum Of which half is
sub let for $1,000 annum. This ample water power
thus oUvGtos the greater expense and many incon.
veniences Of steam enEineA
PROFITS.
The progress of the company has been remarkable
will be by the following figures which give the
amount of net pronts for the period stated via:
For the year 1887 the net
pronts were................ 0o7 col
For tho year 1899 the net
proltB were ISL, 2n
For the year 1850 the net
pronts wero.............1l5s9 500
as certified by Price WAterhouso 4 Co
For the year 1880 tho net
profits arc estimated at. 10000
Tho sales for the first three months Of 1890 having
been nearly double as large for the corresponding
months OF 1889
MR. p L. RAwsoN's REPORT
In order to thoroughly teSt tho statement put forth
to the value Of Okonie insulated wire aud cables and
tho character OF the business works before con-
senting to introduce the undertaking to the public
the Directors OF Woodhouse and Rawson United Limit
ed specially sent out their Managing Director Mr. L.
RAwson, Inst, Elec Eng to America to make report
TO them to the desirAbty of tho acquisition OF tho
business with view to its extension to tho United
Kingdom and other countries by means OF Company.
From his technical knowledge and commercial ex.
perienco, tho Information he obtained in New York.
Philadelphia and Boston, and tho responsible persons
and firms he saw, Mr.. RAwson became convinced that
the business a high class one, and that tho Drec.
fnra nd nth ctedy tba
men OF reputed probity and commercial standing lie
therefore reported in favor OF tho business being
quired.
ENGLISH BUSINESS.
ENGLISH BUSINESS ACQUIRED.
Tho selection OF the most suitable firm to manufAc.
ture okonite insulated wire and cables in England
has been the subject of careful consideration.
and Messrs. Shaw and Connolly of Manchester who
are engaged in the manufacture of ordinary
rubber cotton, and silk covered wires,
selected alike from their great experience in tho
trade for many years and from the suitable situR
ton and character of their works Their business is
of progressive character tho sales increasing each
year Their factory is situated at Newton Heath, Man
chester. on the Rochdale Canal aud close to the main
goods station of the Lancashire and Yorkshire Railway
and with the plant machinery, stock in trade trade
markE good nil and existing contracts Is taken
q going concern.
At Messrs Shaw and Connollys works which were
carefully inspected by Mr. Cazenove JOneS tho lead
ing technical expert and Vice President OF tho okone
Company, before their acquisition by tho vendors lis
intrndcfto make tho Okonite wires aud goods in add
ton to those being made there and arrangements
have already been made for the necessary additions
the factory and tho supply Of the special plant
CURED
The arrangements will thus allow of the early
extension OF the okonite manufactures to England.
FOREIGN AND COLONIAL BUSINESS.
FOREIGN AND COLONIAL PATENTS
The Foreign and Colonial Patents TO be acquired by
this Company should Yield large prontS whether sub,
Bidiary Companies arc formed 10 work them the
patents be Sold these profits would be in addition
those derived from the American and English busi-
neSseA
MANAGEMENT.
Tho following satisfactory arrangements have been
made
MANAGEMENT.
Tho American business will be under tho superintend
Of Members OF tho Board OF this Company residing
in New York, who will act as a local Committee and
who have agreed that during period OF four years
they shall hold at least E4ooO of Shares of the Com
pauy.
Tho principal members OF the okenite Company of
Now York and Messrs shaw and Connolly have agreed
ia addition to hold at least 10000 OF shares OF tho
Company for four years
DIRECTORS KEMUNERATIOE
further feature is that the remuneration OF 1.-The
upon proS by ALLEGATION 10 them Of per cent OF
the American profits, and tho remuneration of tho
Directors in England win be largely dependent tho
other profits made by tho Company. Two OF the Ameri
can Directors who we're the managers of the OkOnite
Company in New YORK, have agreed TO serve tho Com
psny the same capacity for nys years at tho same
Fixed remuneration they receive and commission
profits
MeSsrA JOHN SHAW and THOMAS CONNOLLY have
agreed accept the post OF Commercial General Works
Managers in England for period OF years their
reIuunera alton being partly payable by commission on
the OF profits realized from the English Factory
Their long Speriencs manufacturers will bo inVGl.
liable TO the Company. Nr, Connolly having been eight
Manager OF the India Rubber Department OF the
Telegraph Construction and Maintenance Company.
and Mr. Shaw having been head OF the Estimating De.
partmout of NsSGrS MAthsr Plat Of Manchester for
ten years
The above arrangements win show investors the con
ndenco entertained In the future OF the Company by tho
okonts Company OF New York. helsrA shaw aud Con,
molly. and tho Board OF Directors.
PAST AND FUTURE PROFITS.
ACCOUNTANTS REPoRL
MessrS, Pricn WAterhOu'e 4 Co., the we'll known