New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-05-19

scarcely any other soft hat Is worn. This -
originates styles and manufactures largely lyon
special orders from other hat makers This fact In
portant as It nsures good will and friendly cooper-
ton OF the trade.
The quality Of these goods has for them the
envabe reputation, securing for JOHN B. sTETsON &
CO. the Grand Prize at the Paris Exposition Of 1859
all European well American competitors
One Of the strongest fea Of this business that
every hat manufactured is advance orders, and
Notwithstanding the large capacity Of the works. has
been impossible TO keep with orders received,
hence there Is dollar invested or JeOpardzed In
dead stock The stock in trade at any time consists
therefore, exclusively Of goods Of manufacture
OF material, principally fur, whose value actually
increases the longer 1t Is Kept In stock.
Mr. Stetson made extraordinary provisions for he
welfare OF HIS employees At his own cost he has estsh
lshed upon property contiguous the works library
reading for their savings bank and building
society TO thrift surgery and dspensary
under compStenS practitioners and handsome chapel
where the families OF the employees attend service and
Sunday school moreover provided for the suppo1
and maintenance these Institutions after his death
This the continuance OF these unusual and oenenA
provisions without cost to the company None Of The
employees are members of any trade union. and he
business Is affected BY strikes or labor dspue
arising from outside dictatiOn.
Mr. Stetson will act President for five years
longer II desired, and agrees 10 take no salary Tor hs
services for any year until the company shall have eaA
net for year per cent upon the preferred stock and
enced reliable and valuable STAFF Of superintendent nd
employees will also remain with the new company
The business firm is taken by the Company
as Of Dec. l. $780, subject to charge &C the 7te Of
per cent per In favor OF the vendors 10 the di
of transfer The books and accounts for period Of four
years ending upon above date have been examined BY
the well-known accountants Messrs Barrow, Wade.
Guthrie Co. of London, Manchester, and NewYOrk tho
result OF which examination is shown in the following
certiacste
ACCOUNTANTS CERTIFICATE.
No. 100 BROADWAY, NEW YORK, April "A. 1891
Messrs. john II. Davis & Co.,
The United States Transfer and Exchange Association,
New.York CttE
Dear srs:
Pursuant TO your instructions have had suomt'sd
To us and have carefully examined the books and accounts
Of John B. Steson Co., OF Philadelphia, hat manunsS
urers for the years ending first OF December ls
We find that after writing OF all bad debts fun cha'es
for repairs Of plant, improvements 70 oua
inas and all charges pertaining 70 the business the ne'
p,ots have amounted for the four years 10 sl1592s@1t
equal TO an average annual net profit OF s2ss's33is
The net profits the last namely TO the hrs Of
December, 1899, were s332,es4.49.
The sales Of hats increased during each OF the four
years named ..
We find also that the sales and profits for the four
months from Dec l. 1890, March 81 1891, have been
much larger than for the corresponding period Oh any
previous year. -
Detailed accounts showing the ABOVE prons A's p7e
psepared by US and accompany this certificate.
Yours truly,
BARROW. WADE, GUTHRIE e. co,
Chartered Accountants
TPE AVERAGE ANNUAL PROFITS FOR Thh
-FOUR YEARS HAVE BEEN EQUIVALENT TO PIE
CENT. UPON THE PREPEaRBD STOCK, AsD
OVER Il PER CENT. UPON THE COMMON STOCK.
WHILE FOR THE LAST YEAR THE PROFIT WAs
EQUAL TO OVER ~ lie PER CENT. UPON THE
| COMMON STOCK, AFTER FULL PEh ChNf'
| UPON THE PRESCRIBED STOCK.
The Company Is incorporated under The laws OF no
State where the property is located fact which w" 70
appreciated by conservative Investors
No bonds are issued and under Je Constitution OF ne
State OF Pennsylvana mortgage Indebtedness can %
created without the Of the holding ne
larger amount IN value Of the stock being hrst ooheu
meeting to be held after sixty days lawful notice
1t is seldom opportunity presented Tor nv,
ment In such stable long established and remuheas''
business as that under consideration, or that seeuHs
offering such safety and at time insurng suA
| handsome dividends be obtained.
Prospectuses-con tanning detailed nfornauon-sn'
blank spulcatons for stock be obtained at the oe'
| Of apy of the bankers named above.