New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-06-21
CAPITAL STOCK $1,000, 900
Divided into 10000 Shares of
500 Each.
AU the Stock ,UiU be full paid anu
Stockholders aCiU hare 40 per-
SOnaJ liability Uhatever.

5000 Shares preferred stock (preferred both a. to
dividends and asse The preferred stock entitled to
cumulative preferential dividend Of eight cent per
annum payable quarterly the first days OF January
April July and october in each before any dividend
shall be paid upon the common stock.
The remaining 5000 Shares common stock entitled
to non-cumulatve dividend Of twelve per cent Per
payment OF the cumulative dividend upon
the preferred stock.
The surplus PROFITS 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 by mail to shareholders
upon request The two classes OF stock will have the
voting power
All OF the common stock and 100000 Of the preferred
stock will be taken by the surviving members OF the firm
OF Company. The remaining s4OOO 900
shares preferred stock is offered for subscription
par the right being reserved should the applications
exceed the offered to give preference 10 the regular
customers OF the house.
The proposed stock offers security almost Identical
with that Of first mortgage bond with the privilege OF
sharing with stock in surplus profits The diVi-
dend OF per cent annum Is cumulative. and IN case
OF payment 1t Will remain. until paid. charge against
he earnings OF the Company prior to all claims OF the
common stock OF liquidation the preferred stock
viii be paid in full both in principal and accrued dvi
dends before payment IS made upon the common stock
The nnn OF Journey & Durham, Of Brooklyn, I'm
porers Goods. established in 1874
by Mr.. Henry p. Journey and Mr.. Lyman s. Burnham.
in the following year Mr.. Hugh Boyd became part
ner, and the firm remained unchanged until December
last death OF Mr.. Journey necessated this re-
organization.
The reputation OF the firm for honorable dealing has
always recognized and its credit has been the
highest accorded by the commercial agencies OF the
country. It's career been of continued prosperity
the sales having amounted 81 $50 900 per annum
for the past thirty years and the net profits during the
same period Geducting all bad and doubtful debts
been sufficient 20 pay the regular dividend upon the
preferred stock and dividends ranging from four 10 twelve
Der cent PEI upon the stock. From Feb
ruary May 81. 1891. the net profits have not only
both the preferred and common stock but have been
larger han in any similar period except for several
years past These profits by agreement accrue TO the
company. The first dividend on the preferred stock
will be paid October T. 1891.
The assets OF Journeay & Durham acquired by this
Company at fair inventory appraised value ordinary
reductions being made and exclusive OF the good VIII OF
the longestablshed business OF the firm are largely In
OF Issue Of preferred stock and amply sufficient
for the requirements OF the business.
Under control OF board OF directors the Company
will be MANAGED by the members Of the late firm. aided
by ia experienced and reliable staff OF employees.
Messrs Lyman s. Burnham and Hugh Boyd surviv
ing partners and John NJ Conklin. for many years
sociad with the Arm have entered into agreement %
remain It los service until July I, 1896, or for such
longer period Company may require their services
Proposed Officers OF the Company.
LYMAN s. BURNHAM, President Surviving members
HUGH BOYD Vce-pr sdent, Of the late hrm
JOHN NJ. CONKLIN, Manager.
FRANKLIN TRUST COMPANY, Transfer Agent and
NJ lorT