The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-06-03
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IN m D A N Y
Incorporated Under the Laws of

The American Tobacco Company has pur-
chased and now controls the business of the
following manufacturers of tobacco and cigar
cites:
ALLEN & GINTER of Richmond. Va.
W. DUKE, SONS & co. of Durham, n. c.,
and New York City.
THE KINNEY TOBACCO COMPANY of Nv
York.
W. S. KIMBALL & co. of Rochester, New
York.
GOODWIN & co. of New York.
Together with all their real estate, factory build
ings. storage warehouses. leaf curing houses
leaf tobacco, material of all kinds. machinery,
fixtures, patents, trade marks, brands and
goodwill.
These establishments will be continued as
branch factories of the American Tobacco Com
pany, manufacturing their respective brands
under the personal management and direction
of the former principals and owners.
The entire issue of the preferred stock of this
company is ten millions of dollars 1910, 900 600,
or one hundred thousand shares of one hundred
dollars (S1OO each. Every share of preferred
stock is entitled to one vote at all meetings of
the stockholders.
The stock is to receive preference yearly divi-
dends of per cent, payable quarterly, in the
months of August. November, February and
May. in each and every year. before any divi-
dends can be paid on the common stock. The
first dividend will be payable in August, 1890.
1t has preference over the common stock
upon all the property and assets of the COM
pany on the final distribution or disposition
thereof.
The earning capacity u the combined bust
ness, which has been for so many years in sue
cessful operation, is a guarantee of the value of
the preferred stock. The aggregate net earn
ings for several years past has been nearly two
millions of dollars $4,000. 900 annually, and
will now be largely increased by reason of the
economies to be effected through the formation
of this company.
The company proposes to establish branch
factories in Great Britain, Continental Europe,
Australia and other foreign countries, and it is
believed that this will largely increase the bust
ness and the net income of the company
In order that the general tobacco trade NAV
have an interest in the profits of this company
and that the company may possess the CO.
operation of the trade in its business, limited
amount of the preferred stock has been reserved
for them by the owners.
The trade was offered the Rights" to pur-
chase ten shares each at mar of this resarvad
stock and large proportion of the Rights
were accepted. The Rights expired Nav 29th
The balance of the Preferred Stock not
already allotted, which was reserved for the
trade, is now offered to the general public for
subscription at par, until the 10th day of June,
next, and all subscriptions received at
the Farmers Loan and Trust Company 90
Williams street. New York. and at the Office of
the company, Is Broadway. will be allotted pro
rata to those who may subscribe on or before
that date.
Parties residing out of New York who wish to
subscribe may give notice by telegraph to the
Treasurer of the company, Is Broadway, New
York, stating the amount desired. and confirm
ing same by mail.
Ten per cent. must be deposited with the
Farmers Loan and Trust Company on all sub
scriptions. after due notice of allotment. and
the balance, 90 per cent, on or before the list
day Of July next, when the stock will be trans
ferred to subscribers by the Farmers Loan and
Trust Company, and certificates for same de-
livered.