New-York tribune., 1891-10-13
WESTINGHOUSE
Electric 4 Manufacturing Co.,
NO. 100 BROADWAY. NEw-YORK.
DIRECTORS
WE ARE AUTHORIZED TO OFFER FOR SUE
sCRIPTION THE ABOVE ISSUE OF
seven Per Cent. Cumulative Preferred stock
AT PAR.

TIE Preferred Stock Is entitled cumulative preferred
dividend Of cent, payable semsnnually on jan
and July J. and In addition, TO proportonate share OF all
dividends declared in after per cent has been
paid on the other outstanding The Preferred Stock
preference the assets OF the company in case
OF liquidation all other stocks
The authorized capital he Company is $40 o0o
ooo OF which $4,000 900 Preferred Stock Shares $50
each
The portion offered for subscription will be full paid
and when taken and paid for hereunder
Application VIII be made TO list the stocks on the New
York and Boston Stock Exchanges
The proceedings taken By the company 10 create this
Preferred Stock have been submitted to counsel
and they advise that the reorganization and this isue
Of Preferred Stock are valid IN law.
The business Of the Westinghouse Electric and Manu-
turing Company has grown To present large pro-
portions about Ave years Its growth has been not
only rapid but continuous and has fully kept pace with
the remarkable development Of the electrical Industry
Sales as follows
months, from 1st April 70 3ist December,
1886 Sl4i'ofO't
12 months to 3lst December 1ss7..-.-...- sIAOoieI
12 months, to 81st December 1SSs..-- l'-e9'oo''+t
IL months to Slst December, 1ss9.. s'olo'SIso. ..
II months to 31st December lS9o..---... 4Zs'OoooA
The Company manufactures It's apparatus at three iu
equipped factories located, respectively at ftS'uIs
Penn Newark. y. j. and New-Y0rk CITY which iarhiSh
exceptionally complete facilities for the manufaetufs Oh @d
kinds OF electric light ond power apparatus
The Company relies chiefly for success upon the Quay
and mechanical perfection WORK. although has more
than thousand patents afording valuable proec"0h
against competition.
The Company VIII continue to have the benefit Of the
mechanical engineering ability Of It's founder MI
Westinghouse.
have made an estimate OF the Of the combined
Companies and examination has led 10 believe thas
after making liberal Deductions for all foreseen contn
cencies the assets the reorgan,zd Company VIII furnish
ample security for the total issue o Preferred Stock
without taking into consideration the value Of the patents
at all and that the working capital VIII be fully sufficient
10 conduct the business economical basis the saving
in the interest alone being sufficient to pay ful
dividends this issue.
Subject TO certain reservations detailed IN the prospectus
the examination accountants shows average profit
OF SAB 14O52 per for the periods considered
We invite subscriptions the entioned Preferred
Stock AT PAR, payable as follows:
10 PER CENT on APPLICATION.
80 PER CENT. on ALLOTMENT.
80 PER CENT on I'd NOVEMBER.
80 PER CENT. OK 23D NOVEMBER.
Subscribers have the option Of paying in full for the
stock allotted them. and interest the anticipated
ment Will be allowed the rate Of per cent per annum
The right reserved TO reject reduce sUbscrp-
tons and 10 make aotmens OF less the amounts
piled for In allotment preference VIII be given far
as practicable 70 those stockholders asserting TO the
cent plan OF reorganization and to employees and dealers
In the Company's manufactures.
The failure part Of the subscriber tQpay any IN
salment when due shall operate iorfcltur OF all pre-
vious payments.
The subscr cripton lisf will open simultaneously Ht 10
o'clock A. VI. on Wednesday, the Ifh day Of October,
1891 and close o'clock r. W. on Friday, the 10th
day of October, 1891. at our Offices.