Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-14

The 10 600 shares Of Common Stock offered
for subscription are fully paid and non
sessable. During the past two years diyi-
paid upon fhe stock and for the last fiscal
YEAR ending July 81, 1891, over IS per cent
could have been paid had the directors not
called in and cancelled sSO6,OOo worth OF the
debentures Of the Company.
The Common Stock is entitled to the en-
tire profits Of the business each year after
the debenture interest and per cent dlvi-
dend on the preferred stock have been paid
These fixed charges amount to Size, $50, while
the average yearly profit for the. past nine
years has never been less than four times
this amount, and Tor the last TWO years mas
been nearly five.
The following facts may be mentioned
among the many favorable features con-
nected with the business Of H. II. warner x
II is the largest house of it's kind in the
world, its preparations being sold by nearly
100000 druggists, chemists, grocers, ana
general store dealers in almost every civil,
lied country on the globe. The Widespread
popularity Of these preparations is the best
evidence of their merits.
monopoly, consisting as it does of the manu-
facture of specialties, the Srade names and
marks Of which are secured and registered
in all the principal countries OF the world
ever.
The Company has no liability beyond its
DeDenturcS, originally dnOuntlnp 10 9iSI,UoV,
but reduced during the past year to s42l 800.
and the current debt incident to all large
concerns.
The enterprise is not a "one-man bust
ness" Although still under the manage
ment of the man who started and made it
such q wonderful success, there is plenty of
material In tie employ or the Company TO
continue the business successfully should
any unforeseen accident change that man
agement.
AS the business is "a going concern" pay.
ing enormous dividends, shareholders will
receive an almost immediate return from
their investments.
The Company has returned to its common
shareholders during the last two years 30
per cent. of their invested capital, that Is to
say, for every 800 invested they have ret
ceived $35 in dividends, besides having the
value of their shares increased by the can
collation. of nearly one-half the Company'S
Debentures, and the accumulation of q re-
serve.
this prospectus, shows that the business is a
progressive one; and 1t is believed that the
future will show even largely increased
profits from the fact that the European busi-
ness is growing rapidly.
The future earning power Of the business
Is assured by the fact that the majority Of
the Common Stock is held By the men who
originated 1t, and under whose careful man
agement it has been so successful In the
past.
NATURE OF THE BUSINESS.
The business of H. H. Warner & Co., Linn
tied, consists of the manufacture of proprie-
tsry medicines and preparations, known as
Warmers "Safe". Remedies and Warmers
H, n Warner at Rochester, N. Y, in 1879
Offices and Laboratories are established in
Rochester, N. Y, Toronto, Canada, London,
England Frankfort-on- the Main, Germany,
Kreuzltngen. Switzerland. Melbourne Aus
tralia, and Dunedin, New Zealand. The es-
tablishment of the offices and laboratories
outside Of Rochester, N. Y. was rendered
necessary owing to the enormous increase
O, the business and the widespread demand
for the preparations.
PROPERTY CONVEYED.
The price paid by the Company for the
entire business as on July 81, 1889, including
the good WILL trade marks in all principal
countries and which are perpetual, prescrip-
tions and recipes, real estate and leasehold
properties and buildings in America and
elsewhere, fixed ana movable plant and ma
chinery ut Rochester, and the different branch
houses, cash in hands and at banks, the stocks
in trade consisting of wholly and partly
manufactured stock). raw material and ad-
vertising matter, furniture and all property
used in connection with the business in all
parts of the world, together with the benefits
OF all current contracts entered into by Mr..
Warner in relation thereto. was 80 1886 600.
Since that time the increase of business and
enlarged earning capacity of the concern
have added largely to the value OF the prop
erty.
EARNINGS BEFORE CAPITALIZATION.
Prior to its capitalization and organiza-
tion as an English Company in November,
1859, the business was thoroughly exam
fned by English accountants. The real es-
tate and plant were valued by competent
appraisers, and the past history of the busi-
ness, especially in the way of profits, was
subjected to the most rigid scrutiny. Ac- !
cording to the certified s atement made by I
these accountants, the average yearly profit |
of the UNITED STATES BUSINESS ALONE |
for the seven years prior to its capitaliza |