Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-14

terest ON the outstanding Debentnres. pro
Stock, and pay dividend of 1917 per cent
on the Common Shares. During this period
the lowest annual net profit made
While the @ Profits ear Of as shs last s''1t two st
years prior to the capitalization of the BUSH
ness were the largest in its history. with the
exception OF those for one year. The total
net profits for the seven years exceeded
THREE MILLIONS OF DOLLARS.
PROFITS SINCE CAPITALIZATION.
The success of the business since its CAPT.
talization has been enormous. The first
years trading of the English Company, af-
ter providing for the per cent interest on
the Debentures, resulted in a return to the
shareholders of q dividend of per cent on
the Preferred Stock and l715 per cent on the
Common Stock, besides placing to reserve
SIZE, $50 and carrying forward to next years
account $62, ,4l9.
For the second fiscal year lending July 81,
1884, per cent interest was paid on the
Debentures and dividends OF 8 per cent on
the Preferred Stock and l71a per cent ON the
Common Stock besides the cancellation Of
S3G6 600 of Debentures and the carrying for.
ward to next year of 100000 as undivided
profit. Had the Directors not thought it wise
to cancel this large number OF Deben lures, q
dividend of 35% per cent could have been
paid on the Common Stock, besides carrying
forward the 500 600 as undivided profits.
The summariZation of the foregoing shows
that the profits of the business, during the
past two years, have been sufficient to
enable the Directors to pay back 20 the
shareholders SI49. .325, pay the interest on its
Debentures amounting to s6S s31), retire and
cancel over 100000 worth of the same, and
carry to the reserve fund over slC0,00O-a
showing without parallel in the history Of
industrial enterprises.
PROSPECTS.
The business of the Company at present IS
in most prosperous condition, and is
steadily improving. This is especially so iri
Great Britain and the Continent During the
past year a branch was opened in Switzer.
land, which has already given a satisfactory
return for the money invested The Ger
man and English branches show a large ins
crease in profit and a reduction IN working
expenses oyer previous years, and as an evis
dence of the prosperity of all branches 10
may be stated that the average yearly profits
of the Australian house alone, since the
capitalization of the business, has been suf.
fclent to pay the whole of the Debenturo
interest, as well as per cent. per annum on
the Preferred Stock. The profits of the
other branches, including the United States,
consequently, can be applied to paying divi.
dends on the Common Stock. Arrange
ments are now being perfected to introduce
these preparations into France, Belgium.
and other Continental countries, where the
field is equally as promising; and while the
business in Europe is slower in developing
than in this country, it is at the same time
far more profitable and permanent when es- !
tabished. The reduced cost of production
and cheap advertising rates make the profits
grenter, while the conservatism or the
people, although difficult to overcome at the
outset, soon develops into confidence
which makes their patronage constant and
durable.
PREFERRED STOCK.
The per cent Cumulative, Preferred
Stock of this Company of which 1000 shares
only are offered tor subscription, is safe,
high-class security atfording an assured
rate of interest, worthy the attention OF the
most conservative investor.
SUBSCRIPTIONS.
The right is reserved to reject any sub,
scription or to accept it in part If any subs
scription is wholly rejected, the amount der
posted on application will be returned. IL
the whole amount applied for be noe
allotted, the amount paid on application
will be applied on the sums TO become due
on allotment.
Receipts will be given for all payments
made, and engraved Trust Company Cers
tificates issued by the Central Trust Com.
pany will be delivered at once after final
payment is made.
Any installment may be paid in advance
under discount at the rate of per cent per
annum and Stock issued at once.
Fuilure to make 4 payment of any Install,
ment may operate as forfeiture OF all pre-
vious payments.
Dividends are declared and paid every six
months by the English Board of Directors in
London, after thorough examination OF the
books and business by chartered English &C.
countants. In this country the semi-annual
dividends are paid by the Central Trusg
Company, as soon as they are received from
London, such dividends usually being paid
In April and October of each year.