New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-10-11
WE ARE AUTHORIZED TO OFFER FOR SUI
SCgIPTION THE ABOVE ISSUE OF
seven Per Cent. Cumulative Preferred stock
AT PAR.


dividend Of per cent, payable semannualy on jan
and July l. and IN addition 70 proportlonate snare OF Az
dividends declared in sny year, after per cent has oee
paid other outstanding The Preferred STOCK
has also preference in the assets OF the company IN ease
Of liquidation all other stocks.
authorized capital Of the Company Is $40 oOo
ocO which 81 900 900 Preferred Stock Shares $50
each.
The portion offered for subscription will be fun paid
and -assessable taken aud paid for hereunder
Application Will be made list the stocks on the new
York and Boston Stock Exchanges.
The proceedings taken by the company to create this
OF Preferred Stock have been submitted to counsel
and they advise that the reorganization ana this issue
OF Preferred Stock valid in law
The business OF the Westinghouse Electric and Manu-
featuring Company has TO its present large pro-
portions in about FIVE years It's growth mas been nO'
only rapid, but continuous and has fully kept pace with
the remarkable development OF the electrical industry
Sales ; follows:
0 months from Ist April TO 3ist December,
1885 l'o7o-
10 months to 3st December, 1SS7...-..-. s14017's1
12 months. 20 31st December, 1SS5---- lZoS'ooo'at
IL months, 31st December, 1Ss9..-.-. 3Ole'3,VoL
u months 70 31st December, 1s9o..-.- A2ss'Uoo.oA
The Company manufactures its apparatus at three iuy
equipped factories located respectively, at fl1csous'
Penn. Newark y. J.. and NewYork City, which furnish
exceptionally complete facilities for the manufacture Oh oil
kinds Of electric light and power apparatus
The Company relies chiefly for success upon the quality
perfection OF It's WORK although has more
than one thousand patents aGordng valuable protection
against competition.
The Company Will continue the bcncat OF the
mechanical and engineering ability Of its founder ME-
Westinghouse.
We have made an estimate the Of the combined
Companies and our has led to believe that
after making liberal deductions for all oreseen contn'
cences OF the reorganZed Company VIII furnish
ample security the issue OF Preferred Stock
without taking into consideration the value OK the patents
at all and working capital will be fully sufficient
to conduct economical basis the saving
alone being sufficient 70 pay fun
dividends this issue.
Subject TO certain reservations detailed in the prospectus
the exarInaton OF the accoun profit
Of SAB 1862 per annum FOR the periods considered
We invite subscriptions the aforementioned Preferred
Stock At PAR, payable as follows:
10 PER CENT on APPLICATION.
30 PER CENT. on ALLOTMENT.
30 PER CENT. on I'D NOVEMBER.
30 PER CENT ON 23D NOVEMBER
Subscribers have the option Of paying in fl for the
stock allotted 10 them and the anticipated pay
ment Will be allowed the rate of per cent per annum
The right is reserved reject reduce subscrp-
lions make allotmens OF less than the amounts APP
piled for allotment preference Will be given, 30 far
"a practicable 10 those stockholders asserting to the
cent plan OF reorganization and to employees and dealers
| ia the COmpany's manufactures.
failure the part Of the subscriber TO pay any IN
stament when due shall operate as forfeiture OF all pre-
| vious payments.
The subscription list viii simultaneously at 10
o'clock A. NJ on Wednesday. the 18th day OF October
1891. and close o'clock 4. W. on Friday the loth
day Of October, 1891, at our Offices.
AUGUST BELMONT & CO.,
% Nassau ST., New-YOrk.
LEE, HIGGINSON & CO.,
A State ST., Boston.
Copies OF the Plan q Reorganization the prospectus
with full details OF application can be obtained
| at the Offices above mentioned.
The subscription for the entire amount Of the Prs.
feired stock above offered las been guaranteed D)
| underwriters In this country.