Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-10-14
FINANCIAL.

MANUAL
AUGUST BELMONT CO.. NEW YORK.
LEE. HIeGINsoN CO.. BOSTON.
SUBSCRIPTION FOB
SPHR CENT CUMULATIVE PREFERRED STOCK.
SHARES. $50 EACH.
WESTINGHOUSE
ELECTRIC AND MANUFACTURING COMPANY.
No. l2o BROADWAY. NEW YORK.
DIRECTORS:
CHARLES FRANCIS ADAMS. ...-.Ros.on. Mass.
LEMUEL BANNIsTER.. ...-..-.-........ .Pittsburg. Pa.
AUGUST BELMONT. New York. n. Y.
A. M BfERS. Pttsburg. Pa.
CHARLES fAlRCHILD.-.........B Boston. Mass.
MARcELLUs HARTLEY.---......New York, n Y.
GEORGE W. HEBARD. New York, n Y.
HENRY b. New York. N. Y.
bhAfToN IVES. New York. N Y.
GEOhGE WESTINGHOUSE. Jr .Pittsburs. Pa
REGISTRAR OF TRANSFERS:
MERCANTILE TRUST CO.. 10 Broadway. N. T.
WE ARE AUTHORIZED TO OFFER FOR SUB
sCRIPTIoN The ABOVE ISSUE OF PER CENT
CUMULATIVE FREFERRED STOCK AT PAR
The Preferred Stock In entitled . cumulative pre
ferred dividend Of per cent payable semi annually
on January and July 1. and. in addition. to pro-
portionste share Of all dividends declared in any year.
after cent has been paid the other stocks out
standing. The Preferred Stock has also . preference
In the assets Of the company liquidation
all other stocks
The authorized capital stock Of the Company is
eloOoo.OOO of which o. o0O 600 10 Preferred Stock.
Shares. $50 each
The portion offered for subscription will be full
paid and when paid for here
under.
Application will be made to list the stocks on the
New York and Boston Stock Exchanges.
. The proceedings taken by the Company TO create
this issue of Preferred Stock been submitted to
counsel. and they advise that the reorganization
and this issue of Preferred Stock are valid in law.
The business of the Westinghouse Electric and
Manufacturing Company has grown to its present
large proportions in about five years Its growth has
been not only rapid. but continuous. and has fully
hept pace with the remarkable development Of the
electrical industry Sales follows:
snonths. from lst April to 3Ist De-
eember. lSc6 ..--.-..--.-.-...-..... sl41 SAG II
II months. to Sis, December. 1857. S74. 1867 81
II months. to 31st December lsss... 1.2ss. .569 Al
IL months. to 31st December 1ss9.- 3.6ls. .379. 81
II months, to 3lst December $780,. 1859 Os6L 81
The Company manufactures its apparatus at three
fully equipped factories located. respectively, ct
Pttsbur9. Pa. Newark. n. j.. and New York city,
which furnish exceptionally complete facilities the
manufacture of all kinds of electric light and power
apparstus
o The Company relies chiefly for success upon the
quality and mechanical Perfection Of its work.
although 1t has than thousand patents Afford
nx valuable protection against competition
The Company will continue have the benent of
the mechanical and engineering ability Of founder
Dir. WESTINGHOUSE.
We have made estimate Of the assets of the COM
bned Companies. and our examination has led to
believe that. after making liberal deductions for all
fo-eseen the assets of the reorgsnized
Company will furnish ample security for the total
Issue of Preferred Stock. without taking into consid
erArion the value Of the patents at all. and that the
working capital will be fully sufficient to conduct the
business 81 economical basis. the saving in
terest secOurN alone being sufficient to pay full div
iiends this issue
Subject certain reservations detailed the pro-
spectus the examination of the shows
average profit Of s443. 40 80 per annum for the
periods considered
We invite subscriptions to the above mentioned
Preferred Stock at PAR. payable as follows:
10 PER CENT ON APPLICATION.
30 PER CENT ON ALLOTMENT.
30 PER CENT ON I'd NOVEMBER
30 PER CENT ON 23D NOVEMBER
Subscribers have the option Of paying full for the
stock allotted to the and interest the anticipated
annum-
rsvh$ q.
scrptions and to make allotments Of less than the
amounts applied for. In allotment preference will be
given. far practicable to those stockholders as
seniing to the plan of reorganization and to
employees and dealers in the Companys manufsct-
nres-
The failure the part Of the subscriber to pay any
tnstAllment when due shall operate as forfeiture of
I'll previous payments-
The subscription list will open simultaneously at 10
O'Clock an. on WEDNESDAY. the I4th day of Octo-
bsr. 1891. and close At O'Clock p m on FRIDAY the
1osh day Of October. 1891. q, Offices.
AUGUST BELMONT L CO.,
% Nassau St.. New York.
LEE. HIGGINsoN 4 CO..
A State St. Boston.
Copies Of the Plan Of Reorganization the prospectus
with full details and forms application can bs OBJ
tainsd at the Offices above mentioned
The subscription for the entire amount Of the Pre-
fsrred Stock above offered has been guarantssd by
Underwriters in This country. ocl2l4
RRINa A HUNDRED DOLLARS WITH YoU
CNot in pennies, however).
And buy Ten Per Cent Investment Bond Of the
National Cooperative Building and Investment A.
s0e.ssion. secured by valuable real estate.