The Portland daily press., 1891-11-19

ALONE for the seven years prior to its capital
lzatlon was SUFFICIENT to pay per cent. Inter-
est on the outstanding Debentures, provide
the per cent. dividend on the Preferred Stock,
aed pay dividend Of 1914 per cent. on the
Common Shares. During this period the low
est annual net profit made In any year was
S272,742.74, while the profits of the last two
years prior to the capitalization of the bust
ness were the largest in its history with the
net profits for the seven years exceeded TIfRFE
MILLIONS or DOLLARS.
PROFITS SINCE CAPITALIZE
TION.
The success Of the business since its capIta,-
iZation has been enormous. The first years
trading OF the English Company, after prOVd-
ing Tor the per cent. interest on the Deben-
lures, resulted in return to the shareholders
of dividend of per cent. on the Preferred
stock and l7l2 per cent. on the Common
STOCK, besides placing to reserve s2l8, $50 and
carrying forward to next years account $685.
For the second fiscal year lending July 81,
I991l per cent. interest was paid on the
Debentures and dividends Of per cent. on the
Preferred Stock and l71s per cent. on the
Common Stock, besides the cancellation OF
s3O6,O0O OF Debentures and the carrying for
ward to next year OF 100000 as undivided
profit. Had the Directors not thought it wise
70 cancel this large number of Debentures, a
dividend OF 35% per cent. could have been
paid on the Common Stock, besides carrying
forward the 100000 as undivided profits.
Inc summarization of the foregoing shows
mat the profits OF the business during the past
Two years, have been sufficient to enable the
Dlrectors 10 pay back TO the shareholders
S749, 325, pay the interest on its Debentures
amounting TO S68, $50 retire and cancel over
SSo0,Uo9 S worth OF me SANE and carry to the
OUT parallel In the history OF Industrial enter
prise.
PROSPECTS.
The business Of the Company at present is In
most prosperous condition aud Is steadily i'm
proving. This is especially so in Great Britain
ana tne Continent. During the past year
branch was opened iu Switzerland, which has
already given satisfactory return for the
money invested. The German and English
branches show large increase 10 profit and a
reduetlon In working expenses over previous
years and as an evidence Of the prosperity of
all branches It may be stated that the acreage
yearly PROFITS Of the australian house alone
SUFFICIENT to pay the whole Of the DebentuTe
interest, as 1gelL as per cent per dTnttEt on
the Preferred Stock. The profits OF the other
branches, including the United States. conse-
quently, can be applied to paying dividends on
the Common Stock. Arrangements are now
being perfected to Introduce these preparations
into France, Belgium and other Continental
countries where the field Is equally as promis-
ing; and while the business in Europe is slower
In developing than in this country, II is at the
same time far more profitable and permanent
when established. The reduced cost of pro-
duction and cheap advertising rates make the
profits greater, while the conservatism Of the
people, although difficult to overcome at the
outset, soon develops into confidence which
makes their patronage constant and durable.
PREFERRED STOCK.
The 8 per cent. Cumulative Preferred Stock
OF this Company, OF which 1000 shares only
are offered for subscription, Is safe, high-class
security, ahording an assured rate OF interest
worthy the attention OF the most conservative
investor.
SUBSCRIPTIONS.
The right Is reserved to reject any subscrip-
ton or TO accept tt in part. If any subscription
IS wholly rejected, the amount deposited ON ap-
plication will be returned. II the whole amount
applied for be not allotted. the amount paid on
application will be applied on the sums to be-
come due on the allotment.
Receipts will be given for all payments made
and engraved Trust Company Certificates Is
sued by tue Central Trust Company will be de-
HVered at once after final payment Is made.
ANY lnstallment may be paid in advance I'M
DER discount at the rate Of per cent per an
mum, and stock Issued at once.
Failure to make payment OF any installment
may operate as forfeiture Of all previous pay
Dividends are declared and paid every six
months by the English Board OF Directors in
London after thorough examination Of the
BOOKS and business by chartered English ac-
countantS. In this country the semlannuaI
dividends are paid by the Central Trust Com
pany, as soon as they are received from Lon
don. such dividends usually being paid In April
and October OF each year.
TRANSFER AGENTS:
CENTRAL TRUST co, NEW YORK.
REGISTRAR OF CERTIFICATES:
UNION TRUST CO., NEW YORK.
=. Application viii be made to the New York
Stock Exchange for dealings In the stock.
S,T&T