New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-05-19

rrs co,rorat,on is orqanized 10 take over tne en'
nronertv and carry on the business Of the hrm OF
STETsON & Co.. felt hat manufacturers Oh 1e 80
phuado,nbia pa In consideration Of the entlre l9s
OF 81 700 600 full paid capital stock, the o"n Leon
the entire plant with organization as going I'm, a.,
,do all the real estate machinery fixtures STOCK IN
trade good WILL trademarks bills and accounts -
and cash on hand, to the corporation, ana 'o - ond
covenants TO remain In the service OF the eonp' go,
also binds himself not to engage ID OF give ' WV
name to any competing business v,..
The property conveyed, which Is situsOeu oN 80
and Cadwaader streets and Montgomery avenue, fni
delphla comprises the valuable real es'a'e anu 81,
nents thereon together with the plant, machinery ~
annurtenances and stock OF material on manu. anu 70
heieved IN be the most complete and perfectly equppo
establishment in existence for the manufacture Oh h'
The trademarks and good will Of this business ACQUIRES
through successful OF twentysx years. ae VI
value and furnish a sure basis Of income
The net profits Of the business for the ia7' 'o
10 hown nv the accountants certificate below, have oee
s1159.292.74 The net profits ior 1857
s274, 427 .26 and the amount steadily increase"
by year TO 1892, 624.40 IN 1880. ,s
The balance sheet prepared by Messrs barrow "Auo'
Guthrie a. Co. shows that fur and other matenais On
hand together with the cash balance represent
capital OF nearly 5000 0OO The vendors state tna' ~
stock In hand is Of considerably greater Value 'n '
figures shown on this balance sheet
The Preferred stool. will be entitled TO cumuae'e
preferentia dividend payable semi annually. The Conn
mon stock will be entitled TO the surplus earnings aer
per cent per anDum shall have been palo upon 1i'
preferred shares. ..
The vendors take 900 preferred stock and $780,
900 In common stock in partial payment The remainder
of the nptaI stock. as named at the head hereof ID
now offered for public subscription at par all SUBSCRIBERS 10
take equal amounts each class Of stock Subscriptions
will be payable as follows:
10 per cent on application.
80 per cent. on allotment
80 per cent. In fifteen days after allotment.
40 per cent. In thirty days AFTER allotment.
Alotments will be made soon as practicable The
right Is reserved to reject any subscription to accept
IL In part II any subscription is wholly rejected the
amount deposited application will be returned.
II the whole amount applied for by applicant be not
allotted the surplus amount paid application Will be
credited upon the sum due the allotment
Subscribers will the option Of paying In full on
allotment and interest the anticipated payments VIII
be allowed at the rate OF per cent per annum The
failure TO pay any nsalmnt when due VIII forfeit all
nrevous navments Receipts will be issued for all pay
ments made and stock certificates win be delivered upon
the final payment
Preference in allotment Will be given to employees Of
the firm OF John B. Stetson Co. and 70 subscribers who
in the hat trade
THE SUBSCRIPTION LISTS WILL BE OPENED
AT 10 O'CLOCK A. NJ, on MONDAY, NAY 10, 1891.
AND WILL CLOSE AT OR BEFORE O'CLOCK p.
NJ ON WEDNESDAY, MAY 20, 1891, AT THE OF.
FICES OF
MEssRs. JOHN III. DAVIS & CO., 10 WALL ST..
NEW-TORk.
THE UNITED STATES TRANSFER AND EX-
| CHANGE ASSOCIATION, AT THE OFFICE OF
THE MANHATTAN TRUST COMPANY, CORNER
| WALL AND NASSAU SITS, NEW-YoRK
THE pROvIDENT LIFE AND TRUST COMPANY.
| 400 CHESTNUT.ST, PHILADELPHIA.
Advance applications can be made
to any Of the bankers prior to the
formal opening Of the books.
STATEMENT OF THE VENDORS;
The business Of John 3. Stetson Co. was established
in 1865. The firm manufactures the highest grade OF
soft and stiff felt hats, made entirely from fur
Through the excellence Of the goods manufactured, the
business steadily grown showing an increasing prch
| each year.
| The firm employs one thousand persons In
| lis works StetsOn felt hats known