Pawtucket tribune. (Pawtucket, R.I.) 1890-189?, 1892-02-05
KFUIbTKAK OF STOCK.
FRANKLIN TRUST COMPANY.
DEPosIroRiRs.
FRANKLIN TRUST COMPANY,
NATIONAL CITY BANK.

The firm of Messrs. JoURNEAY BuRNHAM,
of Brooklyn, Importers and Dealer. In D'y
Goods was established in January, lsti, by
Mr.. Henry =. Jnurneay, and Mr.. Lyman 5.
Burnham. In the following year Mr.. Hugh
Boyd became n par'ner, and the firm re
manned unchanged until the death OF Mr..
Journeay year ago necessitated reorgant.
zation, and its conversion into corporation
was accomplished.
The reputation of the firm for honorable
dealing and fJr the high class OF goods
which IL handles, has always been recog
nized. and its credit and that OF the Com
pany succeeding 1t, is the highest accorded
by the Commercial Agencies OF the country.
II las over 20 900 patrons. not only In Brook
lyn, but throughout the New England States.
New York, New Jersey, Pennsylvania and
Maryland, and extending as far South as
Texas, and ~ far West rs Iowa.
It's career has been one OF continued pros
perity, the sales for upwards of forty years
past having amounted to over 81, $50. 900
per annum. For tho three months ending
December 3lst, ls9l-the first complete
quarter of the corporation-its gross bust
ness amounted to o3S8, ,9BS.is, being
S5l l,SAS.4S greater than the business OF the
firm during the same period In the preceding
year. The net profits for the quarter were
81, ,s77.Is, being at the annual rate OF 3 per
cont. upon the Preferred stock, IL per cent.
upon the Common stock, and surplus
equal 10 ll.l00 per cent. upon both, making
In all IS f-1OO per cent. upon the Preferred
Stock and II 11-1OO per cent. upon the
Common Stock. 1t IL, however, expected
that the business will show much greater
increase after March lst, upon which date
the company will remove from its present
limited and inconv veniently located premises
on Atlantic Avenue to Its new ana com.
nodioas building now nearly completed AT
the junction of Fulton street and Flatbush
avenue. This site was selected after due
consideration, and Is believed to be the
most advantageous location in the City of
Brooklyn for dry goods business. 1t is
reached by seven different lines of street
cars, Is opposite the station OF both Elevated
Railroads and within two blocks of the
Long Island Railroad station, whereas the
present location IL reached by but two lines
of sire et cars. The removal Is In response 10
q popular demand, and universal assurances
Of approval have been received of the con.
templated changes.
The Company Is managed, under control of
its Board OF Directors, by the surviving
members of the late firm, aided by the well.
known, reliable and experienced staff of EN-.
ployccs. Messrs. Lyman 5. Burnham and
Hugh Boyd, and Mr.. John NJ. Conklin, for
many years associated with the late firm,
have entered into An agreement with the
Company to remain in Its service until Ju,y
ist, 1885, ana for snch longer period as their
services may be required.
The stock now offered Is the balance OF
that Issued by the Company to acquire the
| intere. It of the deceased partner. The eight
per cent. stock which was offered In July
| last was largely over.subscribed, and was
allotted pro rata among nearly six hundred
apple ants. II Is now quoted les ex.dividend
hid "a II IN uo stock offered.