New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-06-28
IinuILlul.
THE
Farmers Loan & Trust Co.
NETWORK,
Ille Franklin Trust Co.,
1885 REMsEN-sT., BROOKLYN, u,
ARE AUTHORIZED TO OFFER FOR SUBSCRIPTION
100000
PER CENT. PREFERRED CAPITAL STOCK
" Journeay 6 Burnham .
INCORPORATED 1891,
TO SUCCEED
JOURNEAY & BURNHAm,
ESTABLISHED 1874
CAPITAL STOCK 100000
Divided into 10, 900 Shares OF
500 Each.
AU the Stock UilI be faIU paid ana
Stockholders aUiU haze no per.
sonaI liability ,Chatever.

5000 Shares ore preferred stock tpreerrcd both 10
dividends and assets) The preferred stock entued 70
cumulative preferential dividend Of eight per cent per
annum payable quarterly on the first days OF IanuaiS
April July and October year before any dividend
shall be paid upon the common stock
The remaining 5000 Shares common stock entitled
to a noncumulatve dividend Of twelve per cent Per
annum after the payment cumulative dividend upon
the preferred stock.
The surplus profits and above these DIVIDENDS VIII
be divided equally between the preferred ana common
stock.
Dividends will be payable the Office Of the Franklin
Trust Company or will be by mall TO shareholders
upon request The two classes OF stock VIII nave the
voting power.
All the and 100000 OF the preferred
will be by the surviving members OF the urn
and the directors Company. The remaining 100000
1900 shares Of preferred stock Is offered for subscription
par the right being reserved should the applications
exceed the offered to give preference 10 the regular
customers Of the house.
The proposed stock offers security almost identical
with bond. with the privilege o.
sharing with stock in surplus profits Inc dVi-
dend Of cent per annum is cumulative ana IN case
Of payment IL will remain until paid charge against
the earnings Of the Company prior all claims Of the
common stock OF liquidation the preferred stock
Will be paid in full both in principal and accrued dV
dends. before IS made the common stock
The firm Journey & Burnham, OF Brooklyn, I'm
porter, and Dealers Dry Goods established in 1914
by Mr. Henry p Journeay and Mr.. Lyman S. Durham
In the following year Mr.. Hugh Boyd became part
and the firm remained unchanged unul DectIhOer
last death OF Mr. Journey necesstated this re-
organization.
The reputation OF the Arm for honorable dealing has
always recognized and It's credit has been the
highest accorded by the commercial agencies OF the
country been OF continued prosperity
the sales having amounted 81 100000 annum
for past thirty years and the profits during the
same period after deductng all bad and doubtful debts.
have been sufficient to the regular dividend upon the
preferred stock and dividends ranging from four twelve
Der cent per annum upon the stock. From Feb
ruary / TO May 81 1891 the profits have not only
exceeded the necessary pay the dividends upon
both the preferred and stock but have been
larger any similar period except for several
years past These profits by agreement accrue TO tho
company The 1st dividend the preferred stock
will be paid October /, 1891.
The assets OF Journey & Burnham acquired by this
Company fair inventory appraised value ordinary
reductions being made and exclusive OF the good Will OF
the ong.esabshed business OF the frm largely In
excess OF the Issue Of preferred stock and amply sufficient
for the requirements OF the business.
Under the control board Of directors the Company
will be managed by members OF the late firm, aided
by It's experienced and reliable staff OF employees.
Messrs. Lyman S. Durham and Hugh Boyd survlv
Ing partners and John NJ. Corklin for many years
ISOLATED late firm have entered into agreement b
remain It lbs service until July /. 1896. for such
Proposed Officers Of the Company.
LYMAN S. BURNHAM, President Surviving members
HUGH BOYD, Vic~Prcsldent, OF the late firm
JOHN NJ. CONKLIN, Manager.
FRANKLIN TRUST COMPANY, Transfer Agent and
Registrar Of stock.