Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-17

According to the. official statement of Of
the above named company the 10000
shares of Common Stock offered for
subscription are fully paid and non
dends of l7% per cent per annum have been
paid upoo the stock and for the last fiscal
year. ending July 81, 1891, over 35 per cent
could have been paid had the directors not
called in and cancelled $500, 600 worth OF the
debentures of the Company:
The Common Stock is entitled to the en-
tire profits of the business each year after
the debenture interest and per cent div1-
dend on the preferred stock have been paid.
These fixed charges amount to Sl02, $50, while
the average yearly profit for the,past nine
this amount, and for the last two years has
been nearly five.
The following facts may be mentioned
the at
Co., Limited.
II is the largest house of its kind in the
world, its preparations being sold by nearly
1000, 900 druggists, chemists, grocers, and
general store dealers in almost every civil
lied country on the globe. The widespread
popularity of these preparations is the best
evidence of their merits.
The business Of the Company is virtually a
monopoly, consisting as it does of the manu-
facture of speciaties, the trade names and
marks Of which are secured and registered
and are the property of the Company for
ever.
The Company has no liability beyond its
Debentures, originally amounting to S127 0O0,
but reduced during the past year TO $42l, 800,
and the current debt incident to all large
concerns.
ness" Although still under the manage
ment of the man who started and made 1t
such a wonderful success, there is plenty OF
material in tie employ OF the Company pan3 TO
any unforeseen accident change that man.
agement.
As the business is "a going concern" pay
ing enormous dividends, shareholders Will
receive an almost immediate return from
their investments.
The Company has returned to its common
shareholders during the last two years 35
per cent. of their invested capital, that is to
say, for every S100 invested they have re-
ceived $35 in dividends, besides having the
value of their shares increased by the can
collation. of nearly one-half the Company's
Debentures and the accumulation of re-
serve.
The Statement of profits, both before and
this prospectus, shows that the business is a
progressive one; and it is believed that the
future will show even largely increased
profits from the fact that the European busi-
ness is growing rapidly.
The future earning power OF the business
is assured by the fact that the ma ajority of
the Common Stock is held By the men who
original ted it, and under whose careful man.
agement it has been so successful in the
past. -
NATURE OF THE BUSINESS.
The business of H. H. Warner & Co., Linn
tied, consists of the manufacture of proprie-
tary medicines and preparations, known as
Warmers "Safe" Remedies and Warmers
"Safe' Yeast, and was started by the Hon.
H. H. Warner at Rochester, n. Y. in 1879
Offices and Laboratories are established in
Rochester, n. T., Toronto, Canada, London,
England, Frankfort-on-the-Ma Main, Germany,
Kreuzlingen, Switzerland, Melbourne, Aus
tralia, and Dunedin, New Zealand. The es-
Tn h lic nf Off1cQS laboratories
outside of Rochester, n. Y. was rendered
necessary owing to she enormous increase
o. the business and the widespread demand
for the preparations.
PROPERTY CONVEYED.
The price paid by the Company for the
entire business as on July 81, 1889, including
the good will, trade murks in all principal
countries and which are perpetual, prescrip-
tions and recipes, real estate and leasehold
properties anu buildings in America and
elsewhere, fixed ana movable plant and ma
chinery ut Rochesterand the different branch
houses, cash in hands and ut banks, the stocks
manufactured stock), raw material and ad-
vertising matter, furniture and all property
used in connection with the business in all
parts OF the world, together with the benefits
OF alkcurrent contracts entered into by MI.
Warner in relation thereto. was IS, 395, 600.
Since that time the increase of business and
enlarged earning capacity of the concern
have added largely to the value OF the prop
erty.
EARNINGS BEFORE CAPITALIZATION.
Prior to its capitalization and organiza-
tion as an English Company in November,
1899, the business was thoroughly exam
ined by English accountants. The real es-
appraisers, and the past history OF the bust
ness, especially in the of profits, was
subjected to the most rigid scrutiny. Ac-
cording to the certified S atement made by
these accountants, the average yearly profit
of the UNITED STATES BUSINESS ALONE
for the seven years prior to its capitaliza
tion was sufficient to pay 8 per cent in