New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-06-27
CAPITAL STOCK $i,OOo'ooo
Divided into 10, 900 Shares OF
500 Each.
AU the Stock UiIL be full p0td ana
Stockholders sCjtC haze mo per.
sonaL liability aCItGteUer.

5ooo Shares arc preerred (prcferred bon a. 70
dividends and assets The preferred STOCK ID e'UsN
q cumulative preferential dividend OF eiehe p' r,r
annum payable quarterly on the first days Vi ,s.
April, July and October in each year. oeiofe ANY o'
shall be paid upon the common stock .,.
The remaining 5000 Shares are common STOCK eh"ueu
10 non.cumulative dividend Of twelve per cent Per
annum after payment OF tho cumulative oi''ocno up
the preferred stock. II,
The surplus profits over and above these dividends VIII
be divided equally between the preferred ana co'n"on
stock It'll,
Dividends will be payable the Office Of the Franklin
Trus. Company or will be by mail to shareholders
upon request The two classes OF stock VIII nave 'he
voting power.
All OF the common stock and 800 900 OF the preferred
stock will BIZ taken by surviving members Of The nrn
and the directors OF the Company Tho remaining S4OoooV
900 shares OF preferred stock is offered for subscrpon
at par right being reserved should the apphe"os
exceed offered to give preference % inc regular
customers OF the house
Tho nronosed stock offers security almost Identical
with that Of first bond with the privilege OF
with common stock in surplus profits Inc uV
dend of cent per annum Is cumulative; anu IN case
OF payment Will remain, until paid charge aRnss
the earnings OF the Company prior to all claims OF the
common stock In case OF liquidation the preferred STOCK
will be paid full. both in principal and accrued u'i
dends before payment is made the common Stock
The firm OF Journey Burham, OF Brooklyn lm'
,-tors and Dealers I'm Dry Goods established in 1874
by Mr.. Henry P. Journey and Mr.. Lyman s. Burnnam'
In the following year MI. Hugh Boyd became par1
ner. and the firm remained unchanged uhWi Decehoer
last when the Mr.. Journey necessateo his re-
organization.
The reputation Of the firm for honorable dealing has
always been recognized and It's credit has been tho
highest accorded by the commercial agencies OF the
country Its has been one OF continued prosperity
the sales having amounted S1250OO0 per annum
for the past thirty years and the net profits during the
same period after deducting all bad and doubtful debts.
have sufficient TO the regular dividend upon the
preferred stock and dividends ranging from four TO twelve
he
ruary to May 81, 1891 the profits have not only
exceeded the necessary the dividends upon
both the preferred and stock but bavo been
larger than any similar period except one, for several
years past These profits by agreement accrue TO tho
new company The first dividend the preferred stock
will be paid October 1, 1891.
The assets OF Journey Durham acquired by this
Company their fair inventory appraised value, ordinary
reductions being made and exclusive OF the good will OF
the established business Of the rm are largely In
excess Of the issue preferred stock and amply Sufficient
for tho requirements OF the business.
Under the control Of board OF directors the Company
will be managed by the members OF the late frln aided
by its experienced and reliable staff OF employees
Messrs. Lyman S. Burnham and Hugh Boyd surv1v
ing partners and John NJ. ConIdin, for years
ISOLATED with m have entered into agreement 30
remain It It's service until July 1, 1896, or for such
longer period the Company require their services
Proposed Officers Of the Company.
HUGH BOYD, Vce-President, OF the late firm
JOHN NJ CONKLIN, Manager.
FRANKLIN TRUST COMPANY, Transfer Agent and