New-York tribune., 1891-04-29


JOHN D. PALMER. ESQ. TREASURER
JOHN NJ. IVES. ESQ. SECRETARY.
Nature of the Bu-iness.-Thc business consists Of
the manufacture of proprietary medicines and preparations
known as Warmers "Safe' Remedies. Warmers Log
Cabin" Remedies. and Warmers 'Safe" Yeast oniees
and laboratories are established in Rochester n. Y; To-
ronto Canada; London. England. Fnnbfor;, Germany;
KreuzJn Switzerland Melbourne Australia and Dunedn
New-Zeaand. The establishment OF these ohces anu
laboratories outside Of Rochester " Y was rendered IN
perativey necessary owing the enormous increase
business and the widespread popularity OF H. H. Warner
G. Co.'s preparations.
Property Conveyed.-The price paid by the company
for the entire 3lst July 1889 mcludng ns
GOODWILL trade and marks, prescriptions and re-
cpes freehold and leasehod properties and buildings "a
America and elsewhere fixed and movable plant and ma
chinery at Rochester y. Y, and the different orsHea
houses cash in hand bankers the stocks in trade
consisting OF wholly and partly manufactured stock raw
material and advertising matter furniture and all prop
ety used in connection with the businesses together WIN
the benefit OF all current contracts entered into by M
Warner in relation thereto 100000 or s339ooo"
Since this time the increase OF business and enlarged e@
ing capacity of the added greatly to the value
OF the property.
Earnings Prior to the Incorporation in Novemoef
1885, under the laws OF Great Britain, of H. H. warner
g. Co.. Limited. the net earnings in the Onltd oS.'
alone for seven years amounted TO S3,O33.6sI'"
During this period there no single year according
the accounts when the profits Of the United states business
were less than S27O.739 and the last two years "'
the largest history Of the business with the eAcep
ton Of one. 81,
For the first year Of the English Company ending July
81 1890 the net earnings were f1O5O62, or soosooo
ant ot which sum were paid semi-aDnua dividends ono
preferred stock at rate OF per cent per ahnun'
and on stock at the rate OF 20 per cen. 20
annum besides carrying the sum OF ofA4o'ooo
or s21S25O and in addition. surplus 10 the next YEAR,
account Of f12S7O or s62, Al $50. In December lo'
the profits were increasing rapidly owing to he uasN
uected DEVELOPMENT OF the branches that the O
pany exercised its option and called In pald OIL anu
celed $293, ,425 OF its Debenture Bonds lea'ms 49,
s43iO75 OF such Debentures still outstahdihe -,
1st OF February 1891 careful estimate OF the ou s
NJ the concern with its various branches. was maue w
view to the declaration Of the dividend Tor te n''S
months Of the second fiscal year The resu' "sN a,
gratifying as the net profits for the SIX months We" ,,
s3iO 900 these earnings being the largest III ~ I.o "a
of the company This amount enabled the .onl' -,
doclare the semlannua dividend at the rate OF pr '
on the Preferred stock, Is per cent on the |Oo =.
the balance of SI7O,O00 being carried ri"N I -.
end OF the fiscal year. Since feb' inc -,., uu'
shown still greater improvement the md'csHone ,,
probable much larger dividend tran ever OclOto "a
the Common shareholders besides The payment 'i -"
Preferred dividend ,,., 49,, ~. "a
nronts OF the business OF the Company Tor the sN IA
ending July 81 1891 added the net profit OF sS'"o"
e ,n n,evious six months will aggregate so'''
ego ooo for the entire year. Taxing this amount
basis and deduetng -. nm
a nor cent on si3iOoO Debcntures sso'o soss
= ncr cent on 900 900 Preferred stock o"'"'
There remains applicable rs di'idends 10
tbe Common stock 81 per cent, or the sum -, oaa
ss,o.sOo
THE NET ANNUAL PROFITS OF THE Az ,.aTv
LIAM BUsINRss ALONE FOR THE PAST re- .ca
WEARS HAVE BEEN SUFFICIENT IN ~uH
yr,K TO PROVIDE THE WHOLE or OFF, 1T
ANOuST NECESSARY TO PAY THE lNTsnSo
ON AL THE DEBENTURES AND THE DNlpSr
on TIE WHOLE OF TIE PkEfh"
SHARES. , r,,teI
The proat, Of the other branches, Including the [
States. con-ea eaueutly, can be applied TO pa'ins
dcnd. on the common stock and for the further eA
sion of the business. -. Ma.
The Hoa II. H. Warner has contracted 70 ec' S. a. "A
aging Director for five years om July. 1881 rece ,f
compensation in any year therefor, until net eafh
the year amount Of Gll7OOO $S67.450 such comp.
sarion 10 be paid only out Of the net profits
that sum. . ,,,., re-
Under an agreement with the Company MI "ah' a
ains a, least five thousand shares OF the Common '
the Company. -. .,o.s Ex
Application Will be madc 20 the New'fork o'0V
change for dealings beth classes Of certificates rsP
ing the Preferred and Common stuck