The Portland daily press., 1891-11-17

Al ONE for the seven years prior to its capital
ization was sufficient to pay @ per cent. inter
est on the outstanding Debentures, provide
the per cent. dividend on the Preferred Stock
sed pay dividend OF 1914 per cent. on the
Common Shares. During this period the low
est annual net profit made in any year was
S272 ,742.74, while the profits of the last two
years prior to the capitalization OF the bust
ness were the largest in its history with the
exception of those for one year. The total
MILLIONS OF DOLLARS.
PROFITS SINCE CAPITALIZE
TlON.
The success of the business since its capital
iZatiOn has been enormous. The first years
trading Of the English Company, after provid-
ing for the per cent. interest on the Deben-
lures, resulted in return to the shareholders
Of dividend of per cent. on the Preferred
s StS h ana i71a per cent; on tne common
4l9
For the second fiscal year lending July 81.
1891 per cent. interest was paid on the
DebentureS and dividends of per cent. on the
Preferred Stock and 171a per cent. on the
Common Stock, besides the cancellation OF
100000 of Debentures and the carrying for
ward to next year OF 100000 as undivided
profit. Had the Directors not thought it wise
to cancel this large number Of Debentures,
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 TIC pEOitS VI DuSlUcSS uuTl0E Inc past
two years, have been sufficient to enable the
Directors to pay back TO the shareholders
S749, $50, pay the interest on its Debentures
amounting 10 s68, $50 retire and cancel over
100000 worth of the same, and carry to the
reserve fund over Sl00.0OO-a showing with
out parallel in the history of Industrial enter
prise.
The business of the Company at present Is In
most prosperous condition aud is steadily i'm
proving This is especially so In Great Britain
and the Continent. During the past year
branch was opened in Switzerland, which has
already given a satisfactory return for the
money invested. The German and English
branches show large increase In 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
yearly profits of the Australian house alone
since the capitalization Of the business has been
SUFFICIENT to pay the 1Uh0le of the Debenture
interest as yell as per cent, per dl.TlltDs on
branches, including the United States. conse-
quently, can be applied to paying dividends on
the Common Stock. Arrangements are now
being perfected to Introduce these preparations
into France, Belgium and other Continental
countries where the field is equally as promis-
ing; and while the business in Europe Is slower
in.developlng than In this country, 1t is at the
same time far more profitable and permanent
when established The reduced cost OF pro-
ductlon and cheap advertising rates make the
profits 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
offered for subscription, is safe, high-class
security, affOrdjng an assured rate OF interest
worthy the attention OF the most conservative
investor.
SUBSCRIPTIONS.
The right is reserved to reject any subscrip-
ton or to accept 1t in part. If any subscription
is wholly rejected, the amount deposited on ap-
will ha rpfn ha Nuh arnnf nj
applied for be not allotted the amount paid on
application VIII be applied on the sums to be-
come due on the allotment.
| Receipts will be given for all payments made,
and engraved Trust Company Certificates is
sued by the Central Trust Company will be de-
nyered at once after final payment Is made.
ANY 1nstallment 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
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 charte red English ac-
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 will be made to the New York
Stock Exchange for dealings in the stock.
S,T&T