The Portland daily press., 1891-04-30
Registrar OF Ger sifcntes
Union Trust Company, New York.
Transfer A xeufs

Transfer Agents.
Central Trust Company, New York.
American Committee of Mann cement.
HON. Fl. Fl. WARNER, PRESIDENT.
j. MoREAU SMITH, ESQ, VICE PRES IDENT.
JOHN d. PALMER, ESQ. TREASURER.
JOHN M. IVES, ESQ, SECRETARY.
Nature OF the Business-The business con
sists OF the manufacture Of proprietary medicines
and preparations known as Warmers "Safev
Remedies, Warmers "Log Cabin" Remedies. and
Warmers "Safe" Yeast. Ofices and laboratories
are established in Rochester, N. Y; Toronto
Canada; London, Eng land; Frankfort, Germany;
Kreuzlin, Switzerland; Melbourne, Australia |;
and Dunedin, New Zealand. The establishment
OF these offices and Laboratories outside Of Roch
ester, N. Y, was rendered imperatiyely necessary
owing to the enormous increase of business and
the widespread popularity of II. H. Warner & Co.'s
preparations.
Property Conveyed-The price paid by the
company for the entire business as on 31st July.
1883, including the goodwill, trade names and
marks, prescriptions and recipes, freehold and
leasehold properties and buildings in America
and elsewhere, fixed and movable plant and ms-
chinery at Rochester, N. Y, and the different
branch houses, cash In hand and at bankers the
stocks in trade, Consisting Of wholly and partly
manufactured stock, raw material and adyertis-
ing matter,) furniture and all property used in
connection with the business, together with the
benefit of all current contracts entered into by
Mr.. Warner in relation thereto, was 100000
or S3,395, 900. Since this time the increase Of
business and enlarged earning capacity of the
concern have added greatly to the value Of the
property.
Earnings.-Priort to the incorporation in No
vember, 1889. under the laws OF Great Britain, of
q. ~
the United States alone, for seven years amount
ed to S3,O35 $50 81. During this period
there was no single year, according to the &C
counts, when the profits of the United States bus
mess were less than s27O,539, and the last two
years were the largest in the history Of the bust
ness with the exception of one.
For the first year OF the English Company, end
ing July 81, 1890, the net earnings were eIO5,-
O62, or S5O0.50O, out Of which sum were paid
semi-annual dividends on preferred stock at the
rate OF 3 per cent. per annum, and on common
stock at the rate Of 30 per cent. per annum, be-
sides carrying to reserve the sum of e45 900 or
S21S,2JO, and in addition surplus to the
next years account of el2,S7O, or
500 ,4I9.5O. In December, 1890, the
profits were increasing so rap. dly, owing to the
unexpected development of the newer branches,
that the Company exercised its option and called
in. paid off, and cancelled s293, 425 of its Deben-
ture Bonds, leaving but $434 O75 Of such Deben-
lures still outstanding On the LIST Of February,
1891, a careful estimate OF the business of the
concern, with its various branches, was made,
with view 10 the declaration of the dividend for
the first six months of the second fiscal year.
The result was most gratifying, as the net profits
for the six months were about $34O,OcO, these
earnings being the largest in the history Of the
COmDanV This ano lad fha -.
declare the semlannual dividend at the rate Of
per cent. on the Preferred stock, 10 per cent. on
the Common stock, the balance of $4,000 be-
mgcarried forward to the 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 1t is believed
mat the net profits of the business of the Compa-
ny ior the six months ending July 31st, 1891, ad-
uou 70 the net profit OF S340, 900 earned the pre-
sious SIX months, will aggregate about S65O, 900
,or the entire year. Taking this amount as a
basis and deducting
. per cent on $434, 900 DebentMes S 26,O4O
Sper cent on 100000 Preferred
Stock IN nm
.,u"ioiuS dppnUdDlb dS uitlubnQS 10
inc Common Stock 81 psr cent. or The
sum Of 543,s6O
S65O.OOO
the NET ANNUAL PROFITS OF THE AUSTRIA.
i Ian BUSINESS ALONE FOR THE PAST FOUR
IeAhS HAVE BEEN SUFFICIENT IN EACH YEAR
~ PROVIDE THE WHOLE OF THE AMOUNT KECES-
SAhf 10 PAY THE INTEREST on ALL THE
ut6tNIuRES AN1 THE DIVIDEND ON THE WHOLE
VI lhe PREFERENCE SHARES. THE PROFITS
VI The OTHER BRANCHES, INCLUDING THE
UNI t0 STATES, CONSEQUENTLY, CAN Be APP
pLltu TO PAYING DIVIDENDS ON THE COMMON
SIUCk M0 FOR THE FURTHER EXTENSION
VI THE BUSINESS.
INC non ID. Ill. Warner has contracted to act as
Naanaging Director for five years from July, 1889,
ieeeiVing no compensation in any year therefor,
unit until net earnings for the year amount to s117,-
w. OF S5o7,45o such compensation 20 be
paia only out of the net profits i'm excess OF
thnt sum.
ohuer an agreement with the Company Mr.
""ner retains at least five thousand shares OF
'he Common stock Of the Company.
Application will be made to the New York
DUCK Exchange for daalings In both classes of