New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-06-26
CAPITAL STOCK 100000
Divided into 10, 900 Shares OF
500 Each.
AW the Stock aCilI be fitt 2'atd ana
Stockholders aCjU haze no per-
sonaL liability ,CItateUer.

5000 Shares are preferred (preferred ootn a. 70
dividends and assets) The preferred stock ehueu "
cumulative preferential dividend OF eight per cent p
annum payable quarterly the first days OF January
April July and october In each year. before any u'ius
shall be paid upon the common stock ,,
The remaining g. GOO Shares common STOCK en"ueo
to q non-cumulatye dividend OF twelve per cc's pi
after the payment OF the cumulative u'iucnu up
the preferred stock.
The surplus proats over and above these dividends VIII
be divided equally between the preferred and common
stock.
Dividends will be payable at the Office Of the Franklin
Trust Company or will be sent by mall to shareholders
upon request The two classes Oh STOCK Will hA'' "'
voting power.
All stock and 100000 OF the preferred
stock will be taken the surviving members OF the hrh
directors Of the Company The remaining SAo"ooV
900 hares preferred stock Is offered Tor subscription
az mar the right being reserved should the applications
exceed the offered give preference 10 the regular
customers OF the house. .
The proposed stock offers security almost iaentcal
with that Of first mortgage bond with the privilege OF
sharing with common stock surplus profits The divi-
dend OF per cent onnum is cumulative ana In case
payment It will remain until paid charge against
the earnings OF the Company prior TO all claims OF the
common stock In liquidation the preferred stock
Will be maid in full both principal and accrued divi
dends before payment Is made the common Stock
The firm OF Journey Burnham, Of Brooklyn, I'm
porter, and Dealers In Dry Goods was established IN le4f
by Mr. Henry p Journey and Mr.. Lyman s. Burnhsm
In the following year Mr. Hugh Boyd became part.
ner and tho firm remained unchanged until December
last when the OF Mr. Journey necessitated this re-
organization.
The reputation the firm for honorable dealing has
always been recognized and its credit has been the
highest accorded by the commercial agencies OF the
country It's career Of continued prosperity
tho sales having amounted to over oil 100000 per annum
for the past thirty years and net pronts during the
same period deductiDg all bad and doubtful debts
have been sufficient pay the regular dividend upon the
prterrd stock and dividends ranging from four 10 twelve
Der ceno Der upon the common stock From FED
ruary 1 to May 81 1901 the profits have not only
exceeded the amount necessary poy the dividends upon
both the preferred and stock. but have been
larger than in any similar period except one, for several
years past These profits by agreement accrue 10 tho
new company The first dividend the preferred stock
will be paid October 1, 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 long business Of the nr largely In
excess OF the Of preferred stock and amply sufficient
for the requirements OF the business
Under the control Of board OF directors the Company
will be managed by the members OF the late firm, aided
by It's experienced and reliable staff Of employees
Messrs. Lyman S. Durham and Hugh Boyd surviv
ing partners, and John NJ. Conklin for
ISOLATED with tie rm entered into agreement %
remain It lbs service until July 1, 1890, or for such
longer period as the Company may require their services
Proposed Officers of the Company.
LYMAN S. BURNHAM, President Surviving members
HUGH BOYD, VicoPresident, VI the late firm.
JOHN 81. CoNKLIN, Manager.
ppANKIIN TRUST COMPANY Transfer Agent and