Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1891-11-16

on the outstanding Dsbsnturss. pro-
vide the per cent dividend on the Pre-
ferred Stock. and pay . divids6d Of 10 2
DER cent on the Common Shares. During
this period the lowest annual net profit made
in any year Wa 72,742.74. while the
pfaAts Of the last two years prior to the
capital alton Of The business 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 sincs iss
capitalization has been enormous. The
firss years trading Of the Eaglish Company,
after providing for the per cent. interest
on the Debentufes, resulted in return to
the shareholders Of dividend Of per
cent on the Preferred Stock and II per
cent. on the Common Stock, besides plsc-
ing to reserve S2lS $50 and carrying
forward to next years account 862, 4l9.
For the second Hscsl year lending July
81. 1871 6 per cent. interest was paid on
the Debei lures and eividends Of per cent.
on the Pr, fired s oek and I'D per cent.o on
the Common Stock. besides the cancellation
! Of S3C6 900 OF DebentuYes md the carrying
| for yard to next year If 500, 600 - uudi-
vided profit. II ID The Directors not though
it wise 10 cancel thi, lHg. number OF
| Debentures, s dividend Of 353 per cent
could have been paid on the Common Stock,
besides carrying forward the 500. 900 ~
undivided p-of,s
The suumar ration Of the f0feR Ding
shows tha, the profits Of the business. dur
| ing the psst two years. have been sufficient
| to enable the Director, to pay back to the
sns ehoiders &749,325, psy the in'e'est o.
it's Debepiu.es (amountag tn $6s 937)
retire and cancel over 100000 worth Of
the same ,srd carry 10 he reserve fund over
| 800, 0OO-s showing without parallel in the
history Of industrial enterprises.
PROSPECTS.
The business Of the Company az present
| is ia most prosperous conilIioa, AID is
steadily improving. This 10 especially So
in Great Britain and tbs Continent, Dur
| ing the pas. year q branch whs opened IN
| Sutherland, which has already given sal
isfsctory re.ufn FOR the money Invested.
| The German ard English branches show a
| large increase in profit snd reduction 10
working expenses over previous years, and
a. sn evidence Of the prosperity Of all
branch es il may b. stated ths, the average
yearly profits Of the Australian house
alone, since the capitalization Of the bus.
mess, has been sufficient to pay the
whole of the Debenture interest, as well
rs ) per cent. per annum on the
i Preferred Stock. The profits of the
other branches. Including the United
States, consequently, can be applied to
paying dividends GA the Common Stock.
Arrangements are now being perfected to
introduce these preparations iato France,
Belgium, AID other Continental countries,
where the field isequsliy as promising; and
while the business IN Europe 10 slower in
developing than Ia this country, it is at the
same time far more prof able and perma-
nent when established. The reduced cost
Of production and cheap advertising rates
make the profits greater. while the con.
sefvafism Of the people, although difficult
| 10 overcome at the outset, soon develops
into confidence which makes their patron
age constsn; and dur.b
PREFERRED STOCK.
The s per can, Cumulative, Preferred
Stock of this Company, Of which 1000
shares only are off cred for subscription, is
8 safe, hish-,lsss security, affor ling an
assured rate Of interest, worthy the after -
ton Of the most conservative investor.
So DESCRIPTIONS.
The right 10 reserved to reject any suit
scription or to accept it in part II any
subscription is wholly rejected, the smouot
deposited on application will be returned.
II the whole amount applied for be no!
allotted, the amount paid on application
will be pplied on the sums to become due
on the allotment.
Receipts will be given for all payments
made, and engraved Trust Company Ger.
tifcates issued BY the Central Trust Com
pauy will be delivered at once after final
payment 10 made.
Any i-stallment may be paid In advanc
under discount at the rate Of per ceas. pr
sncum ard the Sock issued at once.
Failure to make payment Of any install
ment may operate a. q forfeiture Of ell
previous payments.
Dividends are declared and paid every six
months by the English Board Of Directors
in LoLdon, after thorough examination Of
the books and business by chartered Fog
lish accountants. In this country the SENT
sunusl dividends are paid by the Central
Trust Company as soon - they are re-
ceived from London, such dividends usually
being paid in April and October Of each
year.
TRANSFER AGENTS:
CENTRAL TRUST CO., NEW YORK.
REGISTER OF CERTIFICATES:
UNION TRUST CO., NEW YORK.
Application will be made to the New
York Stock Exchange for dealings in the
a'ock