New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-10-08
WESTINGHOUSE
Electric & Manufacturing Co.,
WE ARE AUTHORIZED TO OFFER FOR So
SCRIPTION THE ABOVE ISSUE OF
Seven Per Cent. Cumulative Preferred Stock
PAR.

The Preferred Stock Is entitled cumulative preferred
dividend of per cent payable semi-annusly on jan
and July l. and in addition to propotonate share OF all
dividends declared any year otter cent has been
paid tho other stocks outstanding The Preferred stock
preference the assets Of the company in case
OF liquidation all other stocks.
The authorized capital stock OF the Company is $4,000
ooo which 81 900 Preferred Stock. Shares, $50
each.
The portion offered for subscription win be full paid
and worcestershire when taken and paid for hereunder
Application will be made to list the stocks on the New
York and Boston Stock Exchanges. ,.'-
The proceedings by the company 10 create this
Issue OF Preferred Stock have been submitted to counsel
and they advise the reorganization and this issue
OF Preferred Stock valid in law
Tho business Of the Westinghouse Electric and Manu-
featuring Company has grown its present largo
portions in about i've years. Its growth has been not
only rapid but continuous. and has fully kept with
the remarkable development OF the electrical industry
Sales are follows:
months, from 1st April to 3Ist December,
1886 slflS4d1l
12 months TO 31st December, 1S57........ S74057s7
IL months to 31st December 1s5S...... 1888 50o41
IL months to 3Ist December, 1880. 36lS379Sl
IL months 10 31st December 1S90.......- 42S9OS0Sl
The Company manufactures It's apparatus at three fully
equipped factories located respectively, at Pttsburs,
Penn Newark, N. j. and New York City, which furnish
exceptionally complete facilities for the manufacture OF all
kinds OF electric light and pewer apparatus.
The Company relies chiefly for upon the quality
mechanical perfection Of its work. although It has
than thousand patents anordng valuable protection
against competition.
Tire Company VIII continue to have the benefit Of the
mechanical and engineering ability of its founder, Mr..
Westinghouse.
We have made estimate OF the Of the combined
Companies and our examination led believe that,
after making Liberal deductions for all foreseen eOntn.
gencles assets reorganzed Company will furnish
ample security for the total issue Of Preferred Stock,
without taking into consideration the value Of the patents
ALL and that the working capital win be fully sufficient
baxfz he
In the interest alone being sufficient to full
dividends on this issue.
Subject to certain reservations detailed prospectus
the examination Of the accountants shows an average profit
OF s443 1852 per for the periods considered.
We invite subscriptions the aforementioned Preferred
Stock At PAR, payable AZ follows
10 PER CENT. on APPLICATION.
80 PER CENT. ON ALLOTMENT
80 PER CENT. on 2D NOVEMBER.
80 PER CENT. on 23D NOVEMBER.
Subscribers have the option OF paying in full for the
stock allotted to them, and interest he anticipated
will be allowed at the rate Of per cent per
The right reserved reject reduce subscrip
tOns and to make aotments OF less than the amounts
piled for. In allotment preference Will be given far
as practicable, to those stockholders asserting TO the
cent plan OF reorganization and employees and dealers
In the Company's manufactures.
The failure the part OF the subscriber pay any
stament when due shall operate forfeiture OF all
yious payments.
The subscription list will open simultaneously 10
1901, and close o'clock Il. NJ Friday, the 4 9th
day of October, 1891, Mt our Offices.
AUGUST BELMONT & CO.,
23 Nassau ST., New-YOrlS.
LEE, HIGGINSON Il CO.,
a. State ST., Boston.
Copies Of the Plan Of Reorganization, the prospectus
with full details and OF application, be obtained
at the offices above mentioned.
EThe subscription for the entire amount OF the Pre-
fcrred stock nbeye offered has been guaranteed by
Underwriters In this country.
ROW TO GET RICH. How to borrow. Pam
Il Il phlet free. .
WHEELING, LAKE ERIE AND PITTS
Bonds and miscellaneous securities dealt in.
w. NJ. BURGOYNE, IS Broadway.
IN PER CENT Municipal Warrants. any
Nv amount good Government Bonds Particulars ead
reference II. w. TRoUNCE, Box 1884, Seattle. Wash.