New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-12-02

I'll. nra,err-d stock f. entitled to DIVIDEND a1 io
n, ? nar cent per annum from July l. 1891 ppaoo
OF the earnings OF the corporation before any Wv, In
so, onart or maid on the general common s'o,"'
go =, ,.o nn n,yment Of such dividend It shall remolh'
until mid n charge against net earnings oil VIC '
many prlor TO all rights Of the common s''oN' -,
common stock is entitled TO the surplus ea"i"7' -
company I'm an amount not TO exceed III per 'vn' -
annum from the same date, non-cumulative. IL aug
surplus remains after the payment OF sucn Wv ~ -
the common stock end divided as dividends IL Is 70 y
divided that each share OF preerrei sOoch e,u e
Of common stock shall receive the same part tner'"
The authorized capital stock OF the company - 500
ooo NJ which 81 100000 T. preferred STOCK anu 'e
mounts nav offered for subscription are issued as iu'
Maid bares and .asesabe when taken ana pau 'or
as hereinafter specified The remainder OF 1he s'o'M Ivy
offered for subscription has been taken by ne ou
At mar in part payment OF the transfer OF the property 70
the company. -, ..,. and
T, 4. proylded in the certificate OF Incorporation anu
also in the bylaws. bond OF this company s'a'
he issued nor shall any mortgage be made upon any "
property without the consent OF at least seNehSh'' pei
cont rs rr cent? of the preferred and also OF the common
stock. voting powers of both classes OIL S'o'A' "
the . -,
The stocks Of the company will be registered az inc
Farmers Loan and Trust Company, and Application VIII
Inc made TO list them the NewYork and Boston StocA
Exchanges.
The present company been formed for the purpose oil
acquiring and carving on the weknown business OF the
Rhode Island Horseshoe Company OF Providence H. IL
IL T. intended &c continue the business under the exist
ing management with Mr.. +. w. Carpenter as President
and Mr. r. W. Comstock Secretly and they are not U
engage in any competing business for period OF ten years
The General Manager, Mr.. Charles H. Perkins, j. the
inventor of the special machinery which has largely con-
,rbud 10 the results already attained and he agrees to
remain in personal charge OF the manufacturing department
for at least Ave years. and also not to engage in competition
for ten years.
The new company acquires, free OF all encumbrances
f,a
business including the real estate property heredttamen
premises fixed plant machinery tools all patents and the
good will Of the and quick asets consisting OF
raw and Manufactured materials and cash amounting
together TO $3.50, oo0
ghc property and business have been thoroughly ex-
amned and investigated by dlsnteestd committee OF
three gentlemen OF the highest standing known ability
and experience Mr.. William Corliss President OF
the Corss Safe and Vault Company, OF Providence
r. l.; Mr. Gardiner C. Sims OF the Arlington and Sims
Engine Company and the Hon. jonathan Chace, large
cotton manufacturer and late Unitd States Senator from
Rhode Island ell Of Providence, Who In their exhaustive
repor state their estimate and conclusions follows
Assuming that the general management OF the busi
ness is continued without change, and the general policy
regarding its conduct is continued the committee have in
view OF all considerations, fixed upon The sum OF $1,000
600 as reasonable and conservative estimate OF its cash
value To this should be added S350OOo, the amount OF
the guaranteed cash assets
The history OF the company dates back some seventeen
years when the works were established at Valley Falls
six miles north Providence and the business now carried
on is the manufacture HorseShocs and ToeCaks but
the pant could BIZ increased by very small expenditure so
To produce bar iron made from reroed scrap ron for
which product there good demand at fairly remunera-
tive prlces The supply OF scrap In the vicinity is
,yovs annie and can be purchased at low price. The
company manufactures from best wrought scrap all the
on used in making horseshoes and refos from scrap
steel the steel that is used in the manufacture OF Toe