The Portland daily press., 1890-06-03

LAWS UF The SlAIE
OF NEW JERSEY.
CAPITAL, - SIS, 900, 900,
full PAID.
| 100000 PREFERRED STOCK.
| sl5,OOO,OOe COMMON STOCK.
The Farmers Loan and
Trust Company of New
York, Registrar.
The American Tobacco Company has purchased
and now controls the business of the following
manufacturers of tobacco and cigarettes:
ALLEN g GINTER of Richmond, va.
W. DUKE SONS & CO.. of Durham, N G., and
New York City,
THE KINNEY TOBACCO COMPANY Of New
York,
WIS. 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 good will.
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 (slo, 900 OOo)
or one hundred thousand shares Of one hundred
dollars (sloo) each. Every share Of preferred
stock is entitled to one vote at all meetings of the
stockholders.
This stock is to eceiye preference yearly
dividends Of per esspt, payable quarterly. in the
months of Augut = November. February and
May, in each and every year, before any dividends
can be paid on the common stock, the first diyi-
dend will be payable in August, 1890. 1t has
preference over the common stock upon all the
property and assets of the company on the final
distribution or disposition thereof.
The earning capacity Of the combined business,
which has been for so many years in successful
operation, is guarantee of the value of the pre-
ferred stock. The aggregate net earnings for
several years past has been nearly two
milions of dollars (s2. ooo. ooo) 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 thatthe company may possess the cooperation
of the trade in It's busIn ess limited amount Of
the preferred stock has been reserved for them
by the owners.
The trade was offered the "Rights" to purchase
ten shares each at par of this reserved stock and
large proportion Of the "Rights" were accep ted.
The "Rights" expired May Goth.
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 tenth day Of June next. and all sub.
scriptions received at the Farmers Loan and
Trust Company, 20 William street, New York,
and at the office of the company, AZ Broadway,
will be allotted pro rata to those who may sud-
scribe 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, As Broadway, New
York, stating the amount desired, and confirming
same by mail.
Ten per cent. must be deposited with the Farm
ers' Loan and Trust Company on all subscriptions,
after due notice Of allotment, and the balance, 30
per cent on or before the 1st day of July next.
when the stock will be transferred to subscribers
by the Farmers Loan and Trust Company, and
certificates for same delivered.