The sun., 1891-06-21
CAPITAL STOCK 1000, 900
Divided into 10000 Shares
of &lOO Each.
All the stock will be full paid and
stockholders will have no personal
liability whatever.

liability whatever.
5000 SHARES nre preferred stock tpre-
fsrred both ss to dividends md ssset-L
| The pre- ferred stock 10 entltied to . cumu.
lative preferential dividend OF eight per
| cent. per annum, payable quarterly ON the
nrst days OF January, April. July. aad o.
tobsr IN each year. before say dividend
| shail be paid upon the common stock.
The remaining 1000 SHARE ES con.
| mon stock entitled to . non.cumulative div.
| iasnd OF twelve por cent. per aaaun after
| the payment or the cumulative dividend
| upon the preferred stock.
The surplus PrO1ts over and above these
| dividends will he divided equally between
| the preferred and common stock.
Dividends will be payable at the emce OF
tho Franklin Trust Company, will DO
sent by mall to shareholders upon request.
The two classes OF stock will have the
same voting power.
All OF the common stock and D 90, 900 OF
tho preferred stock will be taken hy tho
surviving members of the firm and tho III.
reotors OF tho company. The remaiaing
0Aeo, 900 1900 shares) OF PREFERRED
STOCK 10 offered for subscription at par.
the right beiug reserved. should the appli-
cations exceed the amount offered. to give
preference TO the regular custo1aers OF the
house.
The proposed stock Offers security almost Identical
with that OF drt mortgage bond with privilege Of
sharing with common stsck In surplus pronta The div
idsnd Of per cent per annum 10 umulAtive. and In
OF payment It will remain until paid charge
against the sarnngs of the company prior all claims
OF the common stock In case OF liquidation the pre-
fsrrsd stuck will be paid In full both in principal ana
accrued dividends before payment 10 made upon the
common stock.
The nrm Of Journsay Buruham Of Brooklyn. I'm
portsrs and psa srs In Dry Goods stsblishsd in
ls44 by Mr.. Henry P. Journey and Mr. Lyman Burn
ham. In the 70 lowing year Mr. HuEh Boyd became
partner. and the nrm remained unchanged until De-
csmber last when the death Of Ar Journey nscsssi
tAted this rsorRAniIAtton
The reputation OF the firm for honorable dealing has
always been recognized and Its credit has been the
highest accorded by the commercial agencies Of the
county Its career has been one Of continued pros
psry; the sales having amounted to o. 2oO0 per
snnum for the past thirty years. and the net prons
during the same period. after deducing all bad and
doubtful debtA have been sufficient 10 pay regular
dividend upon the preferred stock and dividends rang
ing from Z TO ~ per cent per annum upon the com
stock From Feb l to Nay 81 1881, the net pronts
have not sniy exceeded the necessary to pay
the dividends upon both the preferred and common
stock but have been larger than In similar PERIOD
except ons for several years past Ins,s pron.s By
agreement accrue to the now company. The nrst div
dand the preferred stock will bs paid Oct l. 1891.
The asssh Of Journeay Busnham. acquired by this
company At their fair inventory appraised value or.
dinAry reductions bsins made, and exclusive OF the
good will of the long established business Of the arm
are largely in excess Of the issue of preferred stock
and amply sufficient for the requirements Of the bust
ns.a
Unisr the control Of Board of Dirsctora the COM
pany will be managed by the members Of the lase nrm
sidsd BY It's experienced and reliable stan Of en-
ployess
Nsssrs. Lyman g. Burnham and Hugh Boyd surviv-
partnerA and John N. Conkln. for many years A.
ISOLATED with the late firm have entered into agree
ment TO remain in it's service until July !, 1896 for
ssch longer period the company require thsir
services
PROPOSED OFFICERS OF THE
COMPANY.
LYMAN 8. BuRNHAM. rre'den. Surviving msmosrs
JOHN ". CoNKLlN Manager.
FRANKLIN TRUST COMPANY. Transfer Arsn. and
Registrar of Stock.
CONDITIONS OF PAYMENT.
TEN PER CENT. ON APPLICATION. BALANCE
TEN DAYS AFTER ALLOTMENT
SUBSCRIPTIONS WILL BE RECEIVED UNTIL .
O'CLOCK p n. OF TUESDAY. JUNE So 1891. By
Franklin Trust Co., Brooklyn