New-York tribune., 1891-05-04

American Committee of management
HON. H. Fl. WARNER, PRESIDENT
]. MoREAU SMITH. ESQ, vIcE.PREsIDETT
JOHN D. PALMER, ESQ.,, TREASURER
JOHN NJ. IVES, ESQ.,, SECRETARY.
Nature Of the Business.-The business consists q
the manufacture Of proprietary medicines and preparations
known Warmers "Safe'' Remedies, Warmers Log
Cabin'' Remedies and Warmers "Safe" Yeast. 0Bces
and laboratories established in Rochester N. Y To-
ronto, Canada London, Engand. Frankfor;, Germany.
KreuzBn Switzerland; Melbourne Australia and Dunedin
New. Zealand. The establishment OF these Offices and
laboratories outside Of Rochester ~ z, rendered m
peatively necessary, owing the increase d
business and the widespread popularity Of H. H. Warner
s. Co.'s preparations.
Property Conveyed.-The price paid by the company
for the entire business 3st July 1889, including the
goodwill, trade and marks, prescriptions and
cipes freehold and leasehold properties and buildings In
America and elsewhere. fixed and movable plant and
chneFy at Rochester, NJ Y, and the different branch
houses, cash in hand and at bankers the stocks in trade
consisting of wholly and partly manufactured stock
material and advertising mattc. furniture and all prop
erty used in connection with the businesses, together with
the benefit all entered into by Mr.
Warner relation thereto, G1OO 900 S3.3sJ. 900
Since this time the increase OF business and enlarged
ing capacity OF have added greatly the value
Of the property
Earnmas.- Prior to the Incorporation in November.
1SS9 under the laws OF Great Britain, H. Warner
e. Co.. Limited. the net earnings in the United States
alone for years amounted to S3,03J. .6s2S7
During this period there single year. according
the accounts when the profits Of the United
were less than s270739 and the last years were
the largest in the history OF the business with the exe
tion OF one.
For the first year of the English Company July
81 1890 the net earnings e1O5.062 or sJ09.j00
out Of which paid semanpual dividends
preferred stock at the Of per cent per annum,
and stock at the rate OF 20 per cent. per
annum, besides carrying the Of GiJ,000
or S21S.25O and, I'm addition surplus the years
account of G12S70. s62 $50. In December. $780,
tho Ara fpap
pected development Of the branches that the Com
pany exercised its option and called in paid or and can
ceed s293,425 Of its Debentpre Bonds, leaving bus
si3i075 Of such Debentures still outstanding.
1st OF February, 1891, careful estimate OF the bus
of the concern with its branches made, win
view the declaration of the dividend for the first sh
months Of the second fiscal year The result most
gratifying the profits for the six months sbous
900 these earnings being the largest in the history
Of the company. This amount enabled the company 70
declare the semannual dividend at the rate OF per een
the Preferred stock Is per cent on the Common STOCK
the balance Of $4,000 being carried forward to che
end OF the fiscal year Since Feb. the business has
shown still greater Improvement the indications making
probable much larger dividend than ever before among
the Common shareholders besides the payment OF the
Preferred dividend.
From recent careful estimate It believed that the n
nronts OF the business OF the Company the
ending July 81 1891 added TO the net profit Of $4,000
earned previous sM months VIII aggregate aooss
$3.50 900 for entire year. Taking this amount
q per cent on Si3f 1000 Debenturcs s2604o
y pcr cent On 81 900 600 Preferred stock. 10000
There remains applicable as dividends TO
the Common stock 81 per cent, or the sum
$4,000
$780, 800
THE NET ANNUAL PROFITS or THE AUSTRIA.
LIAM BUSINESS ALONE FOR THE PAST FOUR
WEARS HAVE BEEN SUFFICIENT IN EACH
YEAR TO PROVIDE THIS WHOLE or THE
AlfOCNT NECESSARY TO PAY THE INTEREST
ON ALL THE DEBENTURES AND THE DIVIDEND
Ov THE WHOLE OF THE PREFERENCI
SHARES.
The profits of the other branches, Including che United
States consequently, can be applied 20 paying diyi.
dsnds on stock and the further exien.
sion Of the business
The H. H. Warner has contracted 10 act as Nan.
aging Director for five years from July 1882 receiving
compensation any therefor until earnings for
year amount OF ailToo0 S507 49, such co npeu.
sation be paid only the net profits IN excess Of
that sum.
Under an agreement with the Company, Mr. Warner re-
ans az least ve thousand shares stock OF
the Company
Application Will DO mado TO the New-York Stock Ex'
change dealings IN both classes certificates reprssea
Ing the Preferred and Common stock.