The Portland daily press., 1891-11-14
PROFITS SINCE CAPITALEZA-
TAON


The success of the business since its capital
lzatlon mas been enormous. The first years
trading Of the English Company, after provid-
ing Tor the per cent interest on the Deben-
lures, resulted in a return to the shareholders
OF dividend of per cent. on the Preferred
Stock and l71a per cent. on the Common
Stock, besides placing to reserve S2l8.250 aud
carrying forward to next years account $685.
For the second fiscal year (ending July 81,
189ll O per cent. interest was paid on the
Debentures and dividends OF per cent. on the
PIeferred Stock and 171s per cent; on the
S3O6,OOO OF Debentures and the carrying for
ward to next year OF 100000 as undivided
pront. Had the Directors not thought it wise
to cancel this large number of Debentures, a
dividend OF 3613 per cent. could have been
paid on the Common Stock, besides carrying
forward the 100000 as undivided profits.
The summariZation of the foregoing shows
That the profits Of the business during the past
two years, have been sufficient to enable the
Directors to pay back TO the shareholders
S149, $50, pay the interest on its Debentures
amounting TO $685. $3.50 retire and cancel over
100000 worth of the same, and carry to the
reserve fund over 500, 00O-a showing with
prise.
PROSPECTS.
The business of the Company at present is in
most prosperous condition aud is steadily I'M
proving. This is especially 50 in Great Britain
branch was opened iu Switzerland, which has
already given a satisfactory return for the
money invested. The German and English
branches show large Increase Ia profit and
reduction in working expenses over previous
years and as an evidence Of the prosperity of
all branches 1t may be stated that the average
since the capitalization Of the business has been
SUFFICIENT to pay the 1Uhole Of the Debenture
interest, as ageI as per cent, per. Gnnitnl on
branches, including the United States cOnse-
guently, can be applied to paying dividends on
the Common Stock. Arrangements are now
into France, Belgium and other Continental
countries where the field is equally as promis-
ing; and while the business in Europe is slower
IN developing than In this country, 1t is at the
same time far more profitable and permanent
when established. The reduced cost of pro-
duetlon and cheap advertising rates make the
prohtS greater, while the conservatism of the
people, although difficult to overcome at the
outset, soon develops into a confidence which
makes their patronage constant and durable.
PREFERRED STOCK.
The 8 per cent Cumulative Preferred Stock
OF this Company, of which 1000 shares only
are offered for subscription, is safe, high-class
security, atfordjng an assured rate of interest
worthy the attention OF the most conservative
investor.
SUBSCRIPTIONS.
The right is reserved to reject any subscrip-
is wholly rejected the amount deposited on APP
plcatlon VIII be returned: II the whole amount
dpplltu IOr DC not ALLOTTED. the amount paid on
application will be applied on the sums to be-
come due on the allotment.
Receipts viii be given for all payments made,
and engraved Trust Company Certificates is
sued by the Central Trust Company will be de-
ltYered at once after final payment is made.
ANY instalment may be paid in advance I'M
der discount at the rate of per cent. per an
mum, and stock issued at once.
Failure to make payment of any installment
may operate as forfeiture Of all previous pay
ments.
Dividends are declared and paid every six
months by the English Board of Directors in
London, after thorough examination of the
books and business by chartere English ac-
eountants. In this country the semi-annuaI
dividends are paid by the Central Trust Com
pany, as soon as they are received from Lon
don, such dividends usually being paid in April
and October Of each year.
TRANSFER AGENTS:
CENTRAL TRUST co. NEW YORK.
REGISTRAR OF CERTIFICATES:
UNION TRUST CO., NEW YORK,
Application viii be made to the New York
Stock Exchange for dealings in the stock.
S,T&T