New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-06-23
CAPITAL STOCK $l,OoO,Ooo
Divided into 10, 900 Shares OF
800 Each.
AU the Stock CiU be full pdtd ana
Stockholders tCiU hare no per.
sonaL liability sCh0teUer.

5000 Shares are preferred stock preerred oon az 70
dividends and assets. The preferred stock Is en' "
cumulative preferential dividend OF eight per cent p
annum payable quarterly the first days OF January
April July and October In each year. before anS "'
shall be paid upon the common stock ,,,
The remaining 5000 Shares common stock enoueu
TO a non.cunuativc dividend OF twelve per cent per
annum after the payment OF the cumulative u'lucnu uPo
the preferred stock. 80
Tie surplus profits over and above these dividends VIII
be divided equally between the preferred and common
stock 80
Dividends will be payable the office Of the Franklin
Trust Company or will DO sent by mail to shareholders
upon request Tho two classes OF stock will have the
voting power.
All Of the common and 100000 Of the preferred
stock will by the surviving members OF the rm
and the directors OF the Company The remaining 100000
a 900 shares OF preferred stock is offered for subscription
at par right being reserved should the applications
exceed the amount offered to give preference 70 Tile resua
customers OF the house.
The proposed stock offers a security almost identical
with that OF first bond. with the privilege OF
sharing with stock in surplus profits The diV'
dend OF per cent per is cumulative and In case
Of non.payment Will remain. until paid charge against
the earnings OF the Company prior all claims Of the
common In Of liquidation the preferred stock
Will paid in full. both In principal and accrued div
bends, before payment made upon the common stock
The firm OF Journeay & Burnham, OF Brooklyn, I'M
porters and Dealers in Dry Goods established in 1914
by Mr. Henry p Journey and Mr.. Lyman s. Buinham
In the following year Mr.. Hugh Boyd became part
ner and the firm remained unchanged unOu December
last when the Of Mr. Journey necessated this re-
organization
The reputation OF the firm for honorable dealing has
always recognized, and its credit has been tho
highest accorded by the commercial agencies OF the
country. Its has been Of continued prosperity
the sales having amounted 81 900 per onnum
for the past thirty years and the net profits during the
same period deducng all bad and doubtful debts.
have been sufficient pay the regular dividend upon the
preferred stock and dividends from four to twelve
rcpnt
ruary to May 81 1891, the profits have not only
exceeded the amount necessary pay the dividends upon
both the preferred and stock. but hayo been
larger than in any similar period except 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 Journeay & Durham acquired by this
Company their fair inventory appraised value ordinary
reductions being made and exclusive Of the good Will Of
the ongestablshed business OF the nrm are largely In
excess OF the preferred stock and amply sufficient
for the requirements Of the business.
Under control Of board OF directors the Company
will be managed by the members OF the late hrn aided
by its experienced and reliable stat Of employees.
Mcssrs Lyman S. Burnham and Hugh Boyd, surv1v'
ing partners and John NJ Conkn, for many years as
ISOLATED with tho late firm entered into agreement 10
remain It lbs service until July l. 1896 or for such
longer period the Company require their services
Proposed Officers Of the Company.
LYMAN S. DURHAM, President Surviving members
HUGH BOYD VicN President, OF the late firm
| JOHN NJ. CONKLIN, Manager.
FRANKLIN TRUST COMPANY. Transfer Agent and