New-York tribune., 1891-10-15
WE ARE AUTHORIZED TO OFFER FOR SUB
sCRIPTION THE ABOVE ISSUE OF
seven Per Ce,t. Cumulative Preferred stock
AT PAR.

The Preferred Stock entitled cumulative preferred
dividend Of cent. payable semi-annualy on jan
and July l. and in addition. N proporonate share OF all
dividends declared in any year after cent has been
paid the other stocks outstanding The Preferred Stock
has also preference the assets Of the company in case
Of liquidation over all other stocks.
The authorized capital stock OF the Company is 100000
Ooo OF which s4oOoooo IS Preferred Stock Shares, so
each
The portion offered for subscription win be fun paid
and nonassesssbe when taken and paid for hereuhder
Application will be made list the stocks on the New
York and Boston Stock Exchanges
The proceedings taken by company TO create this
issue Of Preferred Stock have been submitted to counsel
and they advise that the reorganization and this Issue
Of Preferred Stock valid in law.
The business OF the Westinghouse Electric and Manu-
featuring Company has 10 it, present Large pro-
portions in about Ave years Its growth has been not
only rapid but continuous and has fully Kept pace with
the remarkable development Of the electrical lneusty'
Sales follows:
months, from 1st April to 3lst Decemoes
1886 Sl+l'ofO'II
IL months 70 31st December 1Ss7...-.. e'f'oot'o'
u months to 31st December, 18SS-.-... lzo9'ooe4t
IL months TO 31st December 1s59......- 30Ie'olvot
II months, 10 3lst December 1s0O..... 4'Zeo'ooooA
The Company manufactures apparatus at three iuly
equipped factories located, respectively at PSoSOuIE
Penn: Newark n. j. New-YOrk City which furnish
exceptionally complete for the manufacture OF all
kinds OF electric light and power apparatus
The Company relies chiefly for success upon the qnay
and mechanical perfection OF It's work, although It has more
than thousand patents afording valuable noec'oA
agains, competition
The Company will continue hav. the benefit OF the
mechanical and engineering ability OF its founder MI
| Westinghouse.
estimate OF the assets Of the combined
Companies and has led TO believe that
after making liberal deductions for all foreseen contn-
gences reoreanlzd Company Will furnish
ample security for the total issue OF Preferred scK
without taking into consideration the value OF the patents
all and the working capital viii be fully sufficient
10 conduct business economical basis the saving
in alone being sufficient to pay lu
dividends this issue
Subject to certain reservations detailed the prospectus
examination OF the accountants shows an average profit
OF s443,14o52 per annum for the periods considered
invite subscriptions to the aforementioned Preferred
Stock At PAR. PAYABLE as follows:
10 PER CENT. on APPLICATION.
| 30 PER CENT. on ALLOTMENT.
30 PER CENT. on I'D NOVEMBER.
80 PER CENT. on 23D NOVEMBER.
Subscribers have the option of paying in full FOR the
stock allotted them and interest the anticipated pay
ment Will be allowed the rate Of per cent per
The righ: is reserved reject reduce subscrp-
lions and to Of less the amounts
piled for In allotment preference VIII be given, FAR
as practicable stockholders asserting to the
plan Of reorganization and to employees and dealers
| In the Company's manufactures.
The failure on the part Of the subscriber in
,tament when due shall operate forfeiture o all pre-
| vious payments.
The subscription list will open simultaneously at Ia
o'clock A. vi. Wednesday the 14th day of October
1891 and close at o'clock p. VI. Friday the 16it
day of October, 1891. at our Offices.
AUGUST BELMONT & CO.,
% Nassau St., New-YOrk.
LEE, HIGGINSON & CO.,
A State St., Boston.
Copies OF the Plan o, Reorganization prospectus
with full details Of application be obtained
| at the Offices above mentioned.
The subscription for the entire amount OF the Pre-
| ferred stock above offered has been guaranteed by
| underwriters In this country.