The Providence news. (Providence [R.I.]) 1891-1906, 1891-12-01

the cost OF all the machinery Is reduced TO the low
est possible figure. The land on which the works
are situated consists OF about six and one-haf acres
and has ample railroad facilities with coal dump
and uaks lowned by this company running in
eNery rection needful through the property, OBJ
Waiting entirely the necessity for the OF horses
and carts for any purpose. The present capacity OF
the works Is about sixty tons Of Horse-Shoes per
day OF ten hous and the customers OF the company
are prn ,ipally wholesale and jobbing iron and
hardware houses.
examination Of the results Of the busi-
ness of the company, made by MIR. stephen
Little, lately First yice-President Of the
Association of merican N X ilwsy ccount-
Ing Omcers, and certified to by him, shows
thar the net profits for the Ave years end
ing June 80, 1891, were as foIIowsi
1SS7...... ...................s288,S ,S62.SS
1SSS........,... .......... 205,1t7.OS
1sS9..,...................2 243,S5f.S7
1880. 26J,f4S.52
1881 ..................... S,96O.S7
An average OF s262, ,65f.s3 each year-an
amount more than sufficient 10 pay - Id
per cent. on the preferred and I 1 Ii per
cent. on the common stocks.
THESE PROFITS ARE THE NET RE.
SUITS ARISING FROM THE BUSINESS
OF THE COMPANY DURING THE
PERIODS STATED, AFTER CHARG-
y
ING COST OF NEW MACHINERY &C.,
&c.) TO COST OF PRODUCTION.
by a new invention recently made by Mr..
Perkins for which seven patents have al
ready been granted and two more are al
lowed for the manufacture of what IL
known as a Toe-Weight shoe. 10 is conf.
IDENTIFY expected that the yearly net profits
will he very largely increased over and
above the general and natural growth of
the business.
The Company has been organized, the
property conveyed, and the stock has been
issued in accordance with the advice of
Messrs. Evarts, Choate a. Beaman. Of New
York and James VI. Ripley, ESD, of Provi-
dence, X. 1.
Pursuant TO resolution Of the Board of
Directors, one-balfin amount of all divi-
dends declared on the stocks Of the COM
qany out of earnings for the period from
July 4, 1891, 10 July I, 1892, il payable TO
stockholders of record Of j an. |, I 500, and
the other haIfin amount Of all such divi-
dends il payable TO the stockholders of
record Of July 4, 1892.
WE INVITE SUBSCRIPTIONS PAR
To stocks of the above company, entitIinQ
the holder tn 0ne-halfin n amo mt II a n diyi-
dends declared thereon out Of the earnings
efthc company for the period from July 4,
1891, TO July 4, 1892.
Payments will be as follows.
10 PER CENT. ON APPLICATION,
20 PER CENT. ON ALLOTMENT,
20 PER CENT. ON JAN. s, 1892,
or all instaIIments may be paid up under
discount ut the rate of d per cent. per
annum.
The failure 10 pay any inst n lIments when
due NAV operate as forfeiture Of all pre-
viou- payments.
Allotments will he made immediatcIv
after the subscription IL closed, and. In
cases where Ia IL not practicable TO make
any allotment. the amount deposited nm
application will be returned as soon as
possible.
The right IL reserved To reject or reduce
any application. and subscribers apree In
accept such reduced amounts also 70 close
the subscription books a any time witbou,
notice.
Receipts will be given for the seyeraI
installments as paid. and Stock Certificates
will he delivered when the final psvmept
has been made, but not until after Jan. I.
1892.
Books will open Dec. 2, and close not
later than Dec. 8, 1891.