Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-05-07

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| Union Trust Company New York.
Transfer Agents.
| Contra! Trust Company, New York.
| American Committee of Manaq aqemenf.
| HON. III. H. WARNER. PRESIDENT.
J. MoREAU SMITH, ESQ. VICE PRESIDENT.
JOHN ID. PALMER, ESQ, TREASURER
| JOHN NJ. IVES. ESQ, SECRETARY
| NATURE OF THE lNESS-The business
| consists of the manufacture of proprietary medi-
| cines. and preparations known Warmers
| Safe Remedies, Warmers LOG Cabin'' Reme-
| dies. and Warmers SAFE Yeast. Offices and
| laboratories are established in Rochester N Y
| Toronto, Canada; London. England; Frankfort,
| Germany; Kreuzin, Switzerland; Melbourne,
Australia. and Dunedin, New Zealand. The es-
tabish ment of these Offices and laboratories OUT
side OF Rochester, ". Y, rendered fmpera-
lively necessary owing to the enormous increase
of bu siness and the widespread popularity of Fl.
H. Warner Co. IS preparations.
PROPERTY CONVEYED-The price paid by
the company for the entire business as on 3iss
j uly, 1853, including the goodwill. trade names
and marks. prescriptions and recipes freehold
and leasehOld properties and buildings in Amer
lea and elsewhere, fixed and movable plant and
machinery at Rochester, N. Y. and the different
branch houses. cash in hand and at bankers the
stocks in trade Consisting Of wholly and partly
manufactured stock, raw material and adyertis-
ing matter, furniture and all property used In
connection with the businesses, together with the
benefit OF all current contracts entered into by
Mr.. Warner in relation thereto was E7OO co., or
s. 395. 900. Since this time the increase of BUSH
ness and enlarged earning capacity of the con-
Germ have added greatly to the value Of the prop
erty.
- EARNINGS-Prior to the incorporation in No
vember, 1888, under the laws of Great Britain OF
H. 81. Warner Co., Limited. the net earnings in
the United States alone, for seven years amounted
to g, 055 6S2 81. During this period there no
single year. according to the accounts. when the
profits of the Uni.ed States business less than
thp in
the history of the business with the exception OF
one.
For the first year OF the English Company end
ing July 81, 1890. the net earnings s1O5 O62,
or s5O9 500 out of which sum paid semi-an-
nual dividends on preferred stock the rate of 8
per cent per annum, and on common STOCK at the
rate of % per cent per annum, besides carrying to
reserve the Of SIS. 900, s215 go and in adj
dition surplus to the next years account of EI2
SO, or s62, 4i9 50. In December. 1890 the profits
were increasing so rapidly, owing to the unex-
pected development of the newer branches that
the Company exercised its option anu called in,
paid off and Cancelled s293 rs of its Debenture
Bonds, leaving but s434, 075 of such Debentures
still outstanding. On the Ist of February 1884, .
careful estimate of the business of the concern.
with Its various branches, was made, with a view
to the declaration of the dividend for the first sir
months of the second fiscal year. The result was
most crafty Ing. the net profits for the six
months were about $40, 0OO these earnings being
the largest in the history Of the company. This
amount enabled the company to declare the SEMI
annual dividend at the rate of per cent on the
Preferred stock, Is per cent on the Common stock
the balance of sl7o, coo being carried forward to
the end of the fiscal year. Since Feb. the BUSH
ness has shown still greater Improvement the In
dications making probable u much larger diyi-
dend than ever before among the Common share
holders. besides the payment Of the Preferred
From recent careful estimate il is believed that
the net profits of the business of the Company for
the six months ending July 81 1891, added to the
net profit of $40, 600 earned the previous six
months, will aggregate about $50 900 for the en-
tire year. Taking this amount as a basis and de-
Quoting
8 per cent on s434, 900 Debentures es. s. 2s, ,O4o
8 per cent on 81. 600, 900 Preferred
Stock...... .....--..................... 1000
There remains applicable as dividends
to the Common Stock 81 per cent,
or the sum of...................5 5439
$3.50, 900
The net annual profits of the Australian busI.
ness alone for the past four years have been
sufficient in each year to provide the whole of
The amount necessary to pay the interest on all
The debentures and the dividend on the whole
'f the preference shares. The profits of the
,ther branches, including the United States,
can be applied to paying divi-
lends on the common stock and for the further
extension Of the business
The Hon. II. III. Warner has contracted 70 act
IS Managing Director for Eve years from July,
$50. receiving no compensation in any year there
OF. until net earnings for the year amount to
co., or s567 40. such compensation TO be paid
'uly out Of the net profit In excess oil shat sum-
Under an agreement with the company Mr..
warner retains At least five thousand shares Of
he Common stock of the Company.
Application will be made to the New YORK
tock Exchange for dealings in both classes or
ertincates representing the Preferred and Conn
non stoeks spzQ~2-Zh