St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-03-03
STATEMENT OF VENDORS.

Nature of Business.-The business of
these concerns consists of the manufacture
and sale of saltwater apparatus and sup
plies, and bottiing machinery in all its
branches. i'll which department of industry
they constitute the principal establishments
in the world.
Property COnveyed.-The property
conveyed consists of real estate, free and
clear of incumbrance; the entire manufact-
unng plant of each of the several concerns;
their large stocks of goods, manufactured
and in process of manufacture; materials,
machinery, appliances of all descriptions,
letters patent of the United States to the
number of more than one hundred and forty,
and the gooQ will of all the old concerns;
bills receivable held by the several vendors
are also included. to the amount of 100000.
The payment of each of these is guaranteed
TO the company by the vendor Ill whose bust
ness it originated. and working capital will
thus be provided equivalent to $4,000 in
money.
The property conveyed TO the company
may be thus summarized:
Real lISsate........ S147.S69 rs
Stock on hand at Cost. .352.I3O 22
Manufacturing Plant.
at much below cost. 100000 90
Working Capital TO be
provided as above 100000 90
S2,2OO,OOO 90
The above includes nothing for the patents
by which the goods manufactured by the re-
firing firms are protected or for the good will
which. with respect to each concern repre-
sents continuously successful business
career, extending, as TO two of them. for
more than fifty years, and, as to the other
two. for considerably more than q quarter of
a century.
The books and accounts of each
10 Messrs. HART BROTHERS.
TIBBETTS d COMPANY. the WELL
known expert accountants. from
whose certificate. which is set forth
In full iii the prospectus. the fol-
lowing is an extract:
''Thc AGGREGATE SALES FOR,'
s'TffE PAST FOUR YEARS HAVE''
..KH sl0:I 52.I5I sc, EQDAL"
ssO37.9l PER ANNUM.
"EHE NET PROFITS FOR TEiE''
"SAME PERIOD HAVE BEEN''
ssSI .871 ,6O9.56, Or AN AVERAGE
''OF S419. 4O2.39 PER ANNUM.
THE profits for the last twelve months
show considerable increase over those Of
ANY former year, and the sales have pro-
'gressed steadily, as evidenced by the fol-
lowing statement covering the period unF
der examination:
1855. Total Sales. ........ So .427. 439.11 l.,
ISIS ........- 2-5l2,329.9S,
1853" ,IssS.. - 2 2..SsI..9sss:4s aw
sSIO.152,I51
CHART BROS. TIBBE s1ErsS 4 co.,,
III Will De seen tudI inc average yearly pIOnt
for the past four years has been S4l9, 1923.
Taking this as basis and deducting
Six per cent. upon 81 q 10000
First preferre" stock. 81 .OO0.O
Eight per cent. upon 81, 100000
Second preferred stock. i OO, 100000
And salaries of
Six former owners who
remain as managers 30.0O0.0o
THERE REMAINS APP
PLICABLE TO DEVI-
DENDS UPON THE
COMMON STOCK THE
SUM OF PA. 4O2.S9
WHICH rs EQUIVALENT TO IL
PER CENT PER ANNUM.
THE VENDORS AGREE TO RETAIN the
ownership for five years or more of at least
10000 SHARES of the company's stock, rep.
resenting at par 81, 600 600 and consisting OF
5000 shares of Common Stock and 5000
shares of Second Preferred Stock. These Sc
curities will be placed in the possession of
the Boston Safe Deposit and Trust Company
for the period mentioned.
Messrs. =. WHITE & Co. and WAL
ter 5. blanchard. Esq. President of
the Metropolitan National Bank of
Boston, have investigated the busi-
ness affairs of the several vendors
and recommend the securities
offered as entirely worthy of public
confidence.
OF APPLICATION MAY BE OBJ
tanned AT THE VARIOUS
TE0NS WILL BE RECEIVED.
SUBSCRIPTION LISTS WILL CLOSE
WEDNESDAY, MARCH II, 1891.