Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-01-18

nrIn OF THURBER WH4LAND u CO., manu-
featuring, importing, and wholesale grocers and
dealers in general merchandise, their partnership
being about to expire by limitation.
The Preferred Stock will be entitled, from and
after Jan. Is, 1891 to cumulative preferential
dividends offs per cent per annum. payable out OF
the earnings OF the corporation, BEFORE any pay
ment is made upon the General Stock.
The General Stock will be entitled to the sur
plus earnings, when declared in dividends after
sper cent per annuD upon the Preferred Stock
shall have been paid
Dividends on the Preferred Stock will be p.y.-
BILE in February and August OF each year, and
complete statements showing the condition OF the
company will be made semi-annually.
Dividends on the General (Common) Stock VIII
be declared and paid only at the end each nscsl
year.
TEN THOUSAND SHARES OF THE PRE-
FERRED STOCK
are now offered for public subscription .. par.
Subscriptions will be payable as followsi
10 per cent on application.
30 per cent on allotment.
80 80 per cent in 5 days after arlotm.u.
The subscription list will be opened simultans-
ousy at the offices of
y. V. WHITE & CO., IS Wall st., New York, and
fisherman St., Chicago, Ill.
JOHN II. DAVIS CO., 10 Wall st., New York,
and
coNNoR & CO.. II Broadway. New YORK.
THE IMPORTERS AND TRADERS NAPIOH-
AL BANK, New York,
THE FOURTH NATIONAL BANK Of New
York,
CENTRAL TRUST COMPANY ofNew York,
Messrs. WILBoUR, JACKSON 8 CO., Provt-
dence. r. l., and at the ofice Of
THURBER, WHYLAND 8 CO., 11s Reads g.,
New York.
Subscribers to the Preferred Stock will have the
option of subscribing at the same time to the Gen.
n 1rr1nu IN ~.
share Of Common Stock at par for each two shares
Of the Preferred Stock subscribed for by and ale
| lotted to them, If they so desire.
| Registrar of the Stock,
CENTRAL TRUST COMPANY OF NEW
YORK.
| Transfer Agents,
CONNOR 3 CO., NEW YORK.
| Directors,
| f. B. THURBER, ALBERT E. wHYLAND,
ALEXIS GODILLOT, Jr,
JOHN c. BoUroN,
HENRY b. KIRKLAND, II. w. CANNON,
THOMAS 7. BARR.
| EXTRACTS FROM STATEMENT OF TEE
VENDORS
The business of Thurber, Whyland d Co., Is the
first of Its kind in the world. 1t was established
| in 1851 and has paid a profit continuously each
| year since its beginning.
The property conveyed comprises all the stock
| of merchandise, machinery, plant, fixtures, real
estate leasehoId interests accounts and bills
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.
Members of the firm undertake TO retain the
ownership OF at least 8, 600 shares of the common
stock for not less than i've years.
Ms FRANCIS b. THURBER, the senior part
ner in the present firm, will act as President Of
the com pany for five years or longer If desired,
and receive salary for any year until the COM
pany has paid for that year per cent upon It's
preferred stock.
The other active partners also continue In the
service Of the company.
Messrs, FRANCIS b. THURBER and ALBERT
E wHYLAND have severaIly 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 lst
day Of January. 1891, by competent experts, whose
certificates and afidavts. certified copies OF which
are on nle with the bankers, may be seen at the
ONCE Of the company and who finds Its value
to III, ds ~
Other assets:
Guaranteed accounts and bills recefv-
able, in excess OF those payable pes, oss o
Real estate. q, ,0o4 ~
Manufacturing plant machinery and
nxtures.... ...-..-.-.-.----....-.... II Is u
Cash on hand at the commencement OF
/ business January 5, 1891. as Of which
time the transfer took efect..-....... Iii, ss %
q, sos, - .
In the above nothing is included either for
the many valuable trade marks Of the firm, which
have peen acquired and'created through an outlay
of more than SOC, 0G0 in money, or for the good
will Of which results from thirty-three years Of
extensive and successful business, now repre-
sented by an active trade connection with more
than twenty-three thousand customers In all pars
The books and accounts Of the firm have bsen
submitted to Messrs. WALDEN, BROOkS DOM
NELLY, the well-known public accountants the
result Of whose examination Is embodied in the
following certificate;
Ii PINE ST., NEW YORK. Jan. g. 1891,
Messrr. THURBER, WHYLAND & Co., New York;
Gentlemen:
We have examined the books and accounts OF
your firm from the period february, 1880 to
Jan uary 81, 1890, and we find that the net profts
Of the business Qncluding interest capitaI act
uslly collected and realized for the teu years
amount " o5o $50 81
to which must be added the further
estim ated sum realizable from un-
collected book accounts considered
10 600 %
Total v, ZOO So u
Or an average OF goo Cs3 96 yearly.
These results are obtained after charging of al
expenses, rents, interest on borrowed moneys,
and the guaranteed salaries OF the junior partners
and heads Of departments, likewise large expenses
for advertising and establishing trade marks.
further examination of the accounts for the
period OF IL months, ending Jan. 3, 1891, shows q
net profit after charging salaries and all other
penses upon the same basis above, of s22l, 45I So
or at the rate of.... .'..'............S4l,5S 5S5 -
for the year.
Yours respectfully,
WALDEN, BROOKS DONNELLY.
THE RESULT LAST STATED Is EQUIV
ALENT TO PER CENT UPON THE PRE-
FERRED STOCK AND 12.15 PER CENT
UPON THE COMMON STOCK ISSUED.
Prospectuses and blank forms of applica-
tons for stock may be obtained upon April,