Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-12

The 10 900 shares of Common Stock offered
for subscription are fully paid and nom
dends of i7k per cent Der annum have been
paid upo, the stock, and for the last fiscal
year. ending July 81, 1891, over So per cent
could have been paid had the directors not
called in and cancelled $3O6,OO worth or 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 divi-
These fixed charges amount to SIC, $50, while
the avera ge yearly profit for thetpast nine
this amount, and for the last two years has
been nearly hve.
The following facts may be mentioned
among the many favorable features con
nectcd with the business OF H. II. warner
Co., Limited.
II is the largest house of its kind in the
world, it's preparations being sold by nearly
100000 druggists chemists, grocers, and
general store dealers in almost every civil
lied country on the globe. The widespread
popularity of these preparations Is the pest
evidence of their merits.
The business of the Company is virtuallya
monopoly, consisting as it does of the manu-
facture of specialtjes, the trade names and
marks Of which are secured and registered
in all the principal countries Of the world,
and are the property of the Company for
ever.
Debentures originally amounting to s.si' s.s, 9O0
and the current debt incident to all large
concerns.
The enterprise is not a "one-man busi-
ness" Although still under the manage
ment of the man who started and made 1t
such a wonderful success, there is plenty of
material in the employ or the Company to
any unforeseen accident change that man
agement.
As the business is "a going concern" pay
ing enormous dividends, shareholders will
MI a a from
their Investments.
The Company has returned to its common
shareholders during the last two years IS
per cent. of their invested capital, that is to
say, for every 500 invested they have re-
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.
The Statement of profits, both before and
since capitalization, as given elsewhere in
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 maj ority of
the Common Stock is held By the men who
agement it has been so successful in the
past.
NATURE OF THE BUSINESS.
The business OF Il. II. warner u Co., LlIn-
tied, consists of the manufacture of proprie-
tary medicines and preparations, known as
Warmers "Safe" Remedies and Warmers
"Safe' Yeast, and was started by the Hon.
H. H. Warner at Rochester, n. Y, in 1879.
Offices and Laboratories are established in
Rochester, n. Y, Toronto, Canada, London,
England, -the-Main, Germany,
Kreuzlingen, 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
OF the business and the widespread demand
for the preparations.
PROPERTY CONVEYED.
The price paid by the Company for the
entire business rs on July 81, 1888, including
the good will, trade marks in all principal
countries and which are perpetual, prescrip-
tions and recipes, real estate and leasehod
properties anu buildings in America and
elsewhere, fixed ana movable plant and ma
cbinery 1T Rochester and the different branch
houses, cash in hands and ut banks, the stocks
in trade consisting OF wholly and partly
manufactured stock), raw material and ad-
vertising matter, furniture and all property
used i'll 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 50 395, 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, |
1SS9 the business was thoroughly exam |
ined 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 atement made by |
these accountants, the average yearly profit |
of the UNITED STATES BUSINESS ALONE