The Portland daily press., 1892-02-03

The firm of Messrs JoURNEAY s. BURNHANI,
of Brooklyn, Importers and Dealers in Dry
Goods, was established in January, 1914, by
MI. Henry p Journeay and Nh. Lyman S. Burn
ham. In the following year Mr. Hugh Boyd be-
came a partner, and the firm remained I'M
changed until the death of Mr.. Journeay year
ago necessitated reorganization, and its con-
version into corporation was accomplished.
The reputation of the firm for honorable deal
ing and for the high class of goods which it
handles, has always been recognized, and its
credit and that of the Company succeeding it, is
the highest accorded by the Commercial
Agencies of the country. 1t has over $4,000
patrons, not only in Brooklyn, but throughout
the New England States, New York, New
Jersey, Pennsylvania and Maryland, and ex-
tending as far South as Texas, and as far West
as Iowa. IN
Its career has been one of continued prosper
ity, the sales for upwards of forty years past
having amounted, to over 81, 25O,OO0 per
annum. For the three months ending Decem-
Der 81, 1891-the first complete quarter of the
Corporation-its gross business amounted to
$3.50, 965.17, being $71 ,943.43 greater than
the business of the firm during the same period
in the preceding year. The net profits for the
quarter were $37,777.1s. being at the annual
rate of s per cent. upon the Preferred Stock,
12 per cent. upon the Common Stock, and
surplus equal to 5 11-100 per cent. upon both
making in all Is 11-1OO per cent. upon the
Preferred Stock and II Hoo per cent.
upon the Common Stock. 1t is, however,
expected that the business will show a much
greater increase after March LIST, upon which
date the Company will remove from its present
limited and inconveniently located premises on
Atlantic Avenue to It's new and conlmodious
building now nearly completed at the junction
of Fulton Street and FlatbuSh Avenue. This
site was selected after due consideration, and
it is believed to be the most advantageous
location in the City of Brooklynfo for dry goods
business. 1t is reached by several 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 is reached by but two lines
of street cars. The removal is in response to
popular demand, and universal assurances of
approval have been received of the contemplate
ed change.
The Company is managed, under the control
of its Board of Directors blythe surviving mem
bers of the late firm, aided by its well known,
reliable and experienced staff of employees.
MeSSrS. Lyman s. Burnham and Hugh Boyd, and
Mr. John M. Conklin, for many years associated
with the late firm, have entered into an agree
ment with the Company to remain in its service
until July 1st, 1896, and for such longer period
as their services may be required
The stock now offered is the balance of that
issued by the Company to acquire the interest
of the deceased partner. The eight per cent
stock which was offered in July last was large
ly over-subscribed, and was allotted pro rata
among nearly 600 applicants. 1t is now quoted
LOG eX dividend bid, with no STOCK offered.
CONDITIONS OF SUBSCRIPTIONS.
Ten per cent. upon application, balance with
in ten days after allotment. The right is re-
served, should the applications exceed the
amount offered, to allot a less amount than that
subscribed for. Preference in allotment will be
given so far as is practicable to the customers
OF the house.