New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-12-01

Thu ,,eferred stock IL entitled 10 dvidenu a' Se
OF per cent per annum from July L. 1851, s,sa Z,
Of the earnings Of the corporation before an' In
set apart or paid the general common - oin
- :, ,ho non n,rment of such dividend 1t shhi remaii'
untu mid charge against the net earnings Oh inc mr.
pany prior to ell rights Of the common sVOon =, ,ho
common stock is entitled to the surplus earnings VI WY
company in an amount not to exceed ~ per ' 81. r
annum from the same date, non-cumu@tNe 80
-. ,or,i,. after the payment Of such divldehu W
the common stock and divided as DIVIDENDS IL Is 80
divided so that each share OF preferrei seoch " IT,,
Of common stock shall receive the same p'r' inc
The authorized capital stock Of the company !" ,S
ooO of which s175o,o 600 Is preferred Sto'A, 1 en-
ounts n,w offered for subscription are lssueu % i
uald shares and sessabe when taken anu ot
ga hereinafter specified. The remainder OIL 'o on,nv
offered for subscription has been taken oy U w -, 10
a, no, in mart payment Of the transfer Of the properly
the new company. oo.,on and
It Is provided in the certificate Of ineorposs' su
also In the bylaw that bond OF this company 70,
be issued nor shall any mortgage be maze upon aug " ~
r,onerty without the consent OF at least seVeh'n'e pc
, ~, nor cent? OF the preferred and also Oh Tue ooo
stock The voting powers Of both classes Oh '''N ''
the same. ,..s =, tho
The stocks of the company Will be registered az 1ns
Farmers, Loan and Trust Company, and application Wa"
be made TO list them on tne No"-'"i" ""
Exchanges. -, .,o ,,rno q of
The present company he's been formed LOT tne =, So
acquiring and carrying the well.known business o ~
Rhode Island Horseshoe Company OF froVucnIe i 49,
II a intended &c continue the business under tne exist
Ing management with Mr.. f. w. Carpenter as fre'ulH
and Mr. r. w. Comstoek as Secretary ana 1ney arc ~"
srgaoe in any connecting business for period OF zen years
Tho General Manager, Mr.. Charles H. PERKINS, inc
,,or q, the spec,l machinery which has largely con-
trbued to the results already attained ana ne asl "
ramain In personal charge Of the manufacturing
~ AZ est Ave years and also not 70 engage in competition
for ten years. . ,.oo.
The new company acquires, fee OF all encunlorahceS
oil the nroper,y Of the vendors used in connection Win h
,es including the real etae property hCrcdit1mens
nromes ayed plant machinery tools, all patents ana t
good will 81 the business, and quick aset's cohSons VI
raw and manufactured materials, and cash amounting
together 10 $3.50 00O
The property and business have been thoroughly ex-
arnined aud investigated by dsntercsted conoteo Vi
three gentlemen the highest standing known aoily
aud exprcnee viz: Dir. William Corllss President Of
tho Corlss safe and Vault Door Company, oil PROVIDENCE
p L. Mr. Gel liner C. Sims, Of the Armlngton and BINS
Enonc Company aud the Hon. Jonathan Chlee, large
cotton manufacturer and late Unitd States senator iou
Rbc1e Island OF Providence, who in theIr eNhastFe
,nort state their estimate and conclusions as follows
,.s,,nioo that the general MANAGEMENT OF the bisi-
ness is continued without change and the general policy
,cgordop its conduct continued the committee have IN
view OF all Considerations fixed upon the sum oil T2ooo
eco as reasonable ard conservative estHat oil us clsn
value TO this should DC addea s"oo'o"o' ue s0u' Vi
tie guaranteed cash assets
The history OF company dates back some seventeen
oors when the works established at Valley Falls,
six miles north Of Providence and the business now carried
on Is the manufacture OF Horseshoe and Toe-Calks but
the plont could BIZ increased by very nd expenditure 80
a. n nroduce bur iron made from reroed scrap IRON TOT
which uroluct there good demand at fairly rcnunera-
,, -cos The supDy Of scrap In the Vicinity is
.,yr,ys annie and be purchased at low price The
manufactures from best wrought scrap all the
,on used In making it horseshoes ana rfos from scrap
steel the steel is used in the manufacture OF be