New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-06-25

5000 Shares are preferred stock tpreferred Do.n a. W
dividends and asscts) The preferred STOCK Is en'U
cumulative preferential dividend OF eight per CENT p
annum payable quarterly the first days Oh January
Apri July and in each year before any dVuehu
shall be paid upon the common stock
The remaining 5000 Shares are common stock ennued
to non.cumulative dividend OF twelve per ceh@ per
annum after the payment the cumulative dividend upon
the preferred stock 80
The surplus profits over and these dividends VIII
be divided equally between the preferred and common
stock. III,
Trust Company or will be sent by mail TO shareholders
upon request The two classes Of stock VIII have Me
same voting power. ,
All of the common stock and 100000 of the preferred
stock will by the surviving members OF tne nrn
and the directors the Company The remaining S4Ooooo
900 shares preferred stock is offered for subscription
at mar the right being reserved should the applications
exceed the offered to give preference 70 the regular
customers Of the house.
The proposed stock offers security almost identical
with that Of first bond with the privilege OF
sharing with common stock surplus profits The divf
dend Of per per is cumulative and In case
Of npayment It will remain until paid charge against
earnings OF the Company prior to all claims Oh he
common OF liquidation the preferred STOCK
will be paid in full both In principal and accrued diV
dends before payment is made the common stock
The firm OF Journey & Burnham Of Brooklyn, I'M
porters and Dealers In Dry Goods was established In 1874
by Mr.. Henry p Journey and Mr. Lyman s. Buinham
In the following year Mr.. Hugh Boyd became part
ner and the firm remained unchanged until December
last when the death Mr. Journey necsssitaed this re-
rpaniEation.
Tho reputation Of the firm for honorable dealing has
alwaTs been recognized, aid It's credit has been the
hiqh'. accorded By the commercial agencies OF The
count been Of continued prosperity;
tho sales having amounted s1 100000 per annum
for the past thirty years and the net profits during the
same period after deductng all bad and doubtful debts
have sufficient pay the regular dividend upon the
preferred stock dividends ranging from four to twelve
Der cent per upon the common stock. From Feb
ruary to May 81 1891, the net profits have not only
exceeded the amount necessary pay the dividends
both the preferred and common stock, but have been
larger any similar period except one for several
years past These profits by agreement accrue to tho
company The first dividend the preferred stock
will be paid October 1, 1891
The assets OF JOurneay & Burnham acquired BY this
Company their fair inventory appraised value, ordinary
reductions being made and exclusive OF the good will Of
the longestabllshed business OF the firm, largely In
excess Of the 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 its experienced and reliable staf OF employees.
Messrs Lyman S. Burnham and Hugh Boyd, surviv-
ing partners. and John NJ Conklin. for
ISOLATED with firm entered into agreement
remain 1t service until July 1, 1895, for such
longer period the Company require their services
Proposed Officers of the Company.
LYMAN S. BURNHAM, President Surviving members
HUGH BOYD, Vice President, Of the late firm
JOHN NJ. CONKLIN, Manager.
FRANKLIN TRUST COMPANY, Transfer Agent and
Registrar OF stock