Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-01-15
EXTRACTS FROM STATEMENT OF THE
VENDORS:

The business of Thurber, Whyland Co., is the
first of its kind in the world. 1t was established
In 1857. and has paid i profit continuously each
year since its beginning.
The property conveyed comprises all the stock
of merchandise, machinery, plant, fixtures, real
estate, leasehod interests, accounts and bills re-
ceivable, trade marks, trade rights. property and
good will of the retiring firm, which guarantees
the payment of the bills receivable and outstand-
ing accounts which 1t transfers. as stated below
Memb ers OF the firm undertake to retain the
own ership OF at least 5, 600 shares OF the common
stock for not less than FIVE years.
MIR. FRANCIS b. THURBER, the senior part
ner in the present firm, will act President of
the comp any for five years. or longer If desired,
and r, ceiye no salary for any year until the COM
pany has paid for that year per cent upon its
p referred stock.
The other active partners also continue in the
service OF the company.
Messrs. FRANCIS b. THURBER and ALBERT
E WHYLAND have severally contracted by
agreement on file with the company not to engage
in any competing business.
The stock of merchandise included in the prop-
erty conveyed has been examined and appraised
AT WHOLESALE COST PRICES. since the 1st
day of January. 1891. by competent experts whose
certificates and afidavits. certified copies of which
are file with the bankers, may be seen at the
Office of the company, and who finds its value
to H. 373 Ss
Other assets:
Guaranteed accounts and bills receiv-
able, in excess OF those payable. sls5 O3q n5
Real estate. 420O4 ~
Manufacturing plant machinery and
fixtures. .-..:.-.....-..-........... II q
Cash on hand at the commencement
business January s, 1891. as of which
time the transfer took effect. ILL., 9ss 4s
sI,5 5sl 50
In the above, nothing is included either for
the many valuable trade marks OF the firm which
have Deeu acquired and created through an outlay
of more than 500, 600 in money, or for the good
will of which results from thlrty-three years OF
extensive and successful business, now repre-
sented by an active trade connection with more
than twenty-three thousand customers in all parts
of the world,
submitted to Messrs. WALDEN, BROOkS DON
NELLY, the weiLknown public accountants the
rcsul of whose examination is embodied in the
following certificate:
II PINE ST.. NEW YORK. Jan. 0, 1891.
Ncssrr THURBER, WuYLAND & Co., New York;
Gentlemen:
We have examined the hooks and accounts of
your firm from the period, February ]. 1880. to
January 81. 1896, and we find that the profits
of the business Qncludng interest on capitaD act
ually collected and realized for the tel years
to which must be added the further
estim ated sum realizable from un-
collected book accounts considered
good. lao, 900 90
Total &, ZOO sss 81
Or average Of s22o, cs3 96 yearly.
These results are obtained after charging of all
expenses, rents interest on borrowed moneys
and the guaranteed salaries of the junior partners
and heads Of departments, likewise large expenses
tor advertising and establishing trade marks.
further examination of the accounts for the
period of II months, ending Jan. 1891, shows q
net profit. after charging salaries and all other ex-
penses upon the same basis above, OF s22l 45 So
at the rate Of s24l, $50 s.
for the wear.