New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-05-14
ACCOUNTANTS CERTIFICATE.
80. 100 BROADWAY.
NEW ynQK Anrii "a 1900

I ACCOUNTANTS CERTIFICATE.
| 80. 100 BROADWAY. I
NEwYORK April r. 1892.
We have examined accounts Of the follow.
ing safe companies for their fiscal ending
| 1891. viz. THE HALL SAFE AND LOCK COMPANY
| OF Cincinnati. Ohio MARVIN SAFE COMPANY OF New.
York. HERRING lCO. OF New.York, FARRELL &
| co. OF Philadelphia, Penn, and MYERS & SMITH Of
| Philadelphia. Penn.
We ind the profits Of these several companies and
firms after charging oil trading expenses and cost Of re-
newas OF plant and machinery to have been
for the three years Of s276.3co.o7 per annum. The
profit for the last one OF these years amounted
| 10000.
The Consolidated Company Will start free OF all In.
debtedness. and in opinion. with ample working
capital.
The assets TO be taken as from the dates Of tho
last stock Ikings adopting the valuations the expert
appraisers in respect OF plant machinery buildings and
| leaseholds. are as follows:
Machinery plant, tools and plttems as per
appraisers certificates o. valuation . 5000 ss1 20
Buildings ard leas'hold interests. per appr,is.
ers' certificates OF valuation ........ II67I5oO
Stocks Of finished safes on hand cost 400 OIL 90
Stocks OF material. raw and In process Of manu-.
lecture. cost Observation-Disclosures. s97 72t IA
Ellis receivable, book accounts and cash TAI.
anccs Observation-Disclosures. 805 a57 o5
O'r"sc pan'' horses' ACKNOWLEDGEMENTS. 2942<10
TOTAL ~ .oos O74 20
Nothing Is included in the foregoing total for any Of
he patent rights trade marks or good will OF either OF
the several concerns
'sgned). BARROW. WADE. GUTHRIE CO.,
Chartered Accountants.
This average annual profit equal ~ eight per cent.
upon the Preferred stock md eight and three.
au"rter" per cent upon tho Common stock. while for
tue "'"t oil those years the return equal
over eleven per cent. upon the Common stock after
i"'i dividends upon the Preferred. AS soon the
economies In expenses referred be effected the
VIII yield upon the basis Of the annual profit
Me three years above mentIoned cisht per per
"nnum on the Preferred stock and nearly nfteen and
cne-hnIf per cent uj.4S per cent? tho entire
Common stock.
This calculation allows nothing for the gain
TO be effected through doing With the large discounts
heretofore allowed by each concern In view OF the
petition with the Others nor for the sales GER
tain TO follow the improved facilities for ansacting
business which will result from combining these several
interests.
Ihere being no mortgage bonds OF this Company,
e rrerred Stock ranks first against its property and
assets as no bond be created without
the consent Of ninety per cent of the Preferred Lock.
hoiocFs the Preferred Stock has practically all the
cur'ty I" bond and Its cumulative eight per cent.
Dividend remains until pai charge against the
net earnings OF the Company, tho Preferred Of this
corporation forms an investment Of tho solid
munerative character.
!" manifcst that tho saving In expenses and ether
gums 10 result from this consolidation will enable the
'dend than upon Its Preferred shares, and tho Com.
mon STOCK WILL In addition be entitled tho benefits
- result from the future expansion Of tho Companys
business.
COPIES or THE FULL PROSPECTUS, TOGETH.
Err WITH BLANK FORMS OF APPLICATION, CAN
BE OBTAINED AT THE OFFICES OF ANY OF TIE
BANKERS.