The Portland daily press., 1891-04-29

ployes and customers of II. Ii. Warner & Co.,
Limited.
Registrar of Certifcatss
Union Trust Company, New York.
Transfer Agents.
Central Trust Company, New York.
American Committee of Management.
HON. Fl. II. WARNER, PRESIDENT.
j. MOREAU SMITH, ESQ, VICE PRES IDENT.
JOHN d. PALMER, ESQ, TREASURER.
JOHN M. IVES, ESQ, SECRETARY.
Nature of the n usiness-The business con-
sists OF the manufacture Of proprietary medicines
and preparations known as Warmers "Safen
Remedies, Warmers LOG Cabin" Remedies and
Warmers "Safe" Yeast. Offices and laboratories
are established in Rochester, N. r.; Toronto
Canada; London, England; Frankfort, Germany;
Kreuzlin, Switzerland; Melbourne, Australia
and Dunedin. New Zealand. The establishment
OF these offices and Laboratories outside of Roeh
ester, N. Y, was rendered imperatively necessary
owing to the enormous increase Of business and
the widespread popularity Of H. fl. Warner & Co IS
preparations.
Property Conveyed-The price paid by the
company for the entire business as on 31st July.
1889, including the goodwill, trade names and
marks, prescriptions and recipes freehold and
leasehold properties and buildings in America
and elsewhere, fixed and movable plant and ma
chInery at Rochester. N. Y, and the different
branch houses, cash in hand and at bankers, the
stocks in trade, consisting of wholly and partly
manufactured stock, raw material and adverlis-
ing matter,) furnit and all property used in
connection with the business, together with the
benefit Of all current contracts entered into by
Mr.. Warner in relation thereto, was 100000
or SO, 1895 900. Since this time the increase of
business and enlarged earning capacity of the
ad fIxyk 10 4bo
property.
Earnings.-Prior to the incorporation in No
vember 1889. under the laws OF Great Britain. of
H. H. Warner g. Co., Limited, the net earnings in
the United States alone, for seven years amount
ed to S3,O35 $50 81. During this period
there was no single year, according to the &C
counts, when the profits of the United States bus
mess were less than S2sO, 7a9, and the last two
years were the largest in the history of the bust
ness with the exception of one.
For the first year OF the English Company, end
ing July 81, 1890, the nst earnings were elO5,-
O62, or sJO0.5OO, out of which sum were paid
semi-annual dividends ON preferred stock at the
rate of = per cent. per annum, and on common
stock at the rate of 20 per cent. per annum, be-
sides carrying to reserve the sum of e4J 900 or
S2iS,25O, and in addition surplus to the
next years account of Gi2,S7O, or
S62, 4I9.5O. In December, 1890, the
profits were increasing so rap dly, owing to the
unexpected development of the newer branches
that the Company exercised its option AMI called
in, paid off, and cancelled s2S3, 425 of its Deben-
ture Bonds, leaving but s434,0 75 OF such Deben-
lures still outstanding. On the LIST Of February.
1891, a careful estimate Of the business Of the
concern, with its various branches, was made,
with view TO the declaration of the dividend for
the first six months of the second fiscal year.
The result was most gratifying, as the net profits
for the six months were about $4,000, these
earnings being the largest in the history Of the
company. This amount enabled the company to
declare the semi-annual dividend at the rate of
per cent on the Preferred Stock 10 per cent. on
the common stock, the balance Of $4,000 be-
Ing carried forward to the end of the fiscal year
Since Feb. 1 the business has shown still greater
Improvement, the indications making probable a
much larger dividend than ever before among the
common shareholders, besides the payment Of the
Preferred dividend.
FROM recent careful estimate it is believed
tnat the net profits of the business of the Compa-
ny ior tne SIX months ending July 31st, 1891 ad-
dea 70 inc net profit OF s34o, 900 earned the pre-
Mous SIX months, will aggregate about S6aO, 900
~ .ne entlre year. Taking this amount as q
oasis and deducting
Sper cent on $434,OOO Dsbsntures S 26,O4O
Sper cent on $l,OOOOOO Preferred
Stock On nm
mere remains applicable as dividends 10
inc Common Stock 81 per cent, or The
sum cf 543,sSO.
s650,OOO
, the NET ANNUAL PROFITS OF THE AUSTRIA.
Ian BUSINESS ALONE FOR THE PAST FOUR
ItakS HAVE BEEN SUFFICIENT IN EACH YEAR
~ pkUvlDe, THE WHOLE OF THE AMOUNT KECES-
SAsf III PAY THE INTEREST on ALL THE
Dt6tN uReS AMI THE DIVIDEND ON THE WHOLE
Ut ING PREFERENCE SHARES. THE PROFITS
VI me OTHER BRANCHES, INCLUDING THE
UhlltD STATES, CONSEQUENTLY, CAN Be APP.
PLltu 10 PAYING DIVIDENDS ON THE COMMON
SlUGk MD FOR THE FURTHER EXTENSION
OF THE BUSINESS.
Ing non. H. II. Warner has contracted to act as
Mahaglhg Director for five years from July, 1885,
receNing no compensation in any year therefor,
until net earnings for the year amount to el17,-
ooo' OF Soo7,45O, such compensation 20 be
paid only out of the net proais i'm excess of
TINT sum.
under an agreement with the Company Mr..
warner retains at least five thousand shares of
the common stock Of the COMPANY.
Application will be made to the New York
Stock Exchange for dealings in both classes Of
certihcates representing the Preferred and Com
mon stoek' ap2edst