New-York tribune., 1892-10-18
Reports to
PHELPS & CO..


Report to J. F. BARNARD. Esq, President Ohio and
Mississippi Railroad Co.; Gen. JOHN ECHOLS Vice.
President Newport Mississippi Valley Railroad
Co., and S. NJ FELTON,, Esq, President Cincinnati,
New.Orleans Pacific Railroad Co.. on the ap-
praisal, &c. entire property Of the Ohio Falls Car
Company dated Jacksonville, Ind, Avg. "a, 1892
compliance your request per your letter Of
the inst, we have report have
visited and examined the plant Of the Ohio Falls Car
Company Of this place and IND the value Of the real
estate buildings, and machinery and appliances,
to be 2oS'foooo
I'VE Knd the stock, being material on hand
and in process OF manufacture, a. shown by
inventory OF July l. 1892. to be...... 5s3,391 10
Making . total ,SOo, ,eOo.oo
which we present value OF the plant and
stock
Looking at this a. going plant, earning as shown
by Me.srs. Barrow. Wade, Guthrie Co., annual
average Of s1o4 co. it has in opinion. further
than is forth in the previous figures We esti
mate that would take eighteen months at least to
duplicate the plant The net profit for this establish
one and half years. according the figures
Of Me.srs Jarrow. Wade. Guthrie Co., would DO
1881, ,37o.5o. To this be added interest the
the plant for onehali the period estimated
required the duplication. at 6 per cent interest
s57 775327. These two items together may be fairly
added above figures of the value OF the plant in
comparing this going plant with the construction Of
plant, with money equally well situated and
ready 10 do equal amount Of work.
With regard TO the location, viii say that situated
upon the Ohio River this plant IS by way Of which
quantities OF lumber and logs obtained the fact
that railways connect into the works. and others
may be reached from within radius Of five
miles by moderate switching chargcs and the further
position OF the interior country this
plant opinion Is that the location is exceedingly
favorable one-one Of the in this country at the
present time"
Report Of Messrs. BARROW. WADE. GUTHRIE &
CO.. Chartered Accountants, London and NewYork,
New.York. Aug 25, 1892:
1--WE visited Jacksonville Ind, there made an
examination of the books and accounts Of the OHIO
FALLS CAR co. for the period commencing 10th No.
,enber, 1888 and ending SOh June 1892 with the object
ascertanng and reporting upon the profits tho
and also upon the assets and liabilities, the
existed at the latter date.
"Aite. going carefully the books found the
profits for these periods sfter charging oil trading
penses management. salae, bad debts and repairs
maintenance Of machinery plant buildings, &c.
follows:
Period from 20th November 1888. to 18th
February $780, say 15 months profit. S136 913.05
Period 18th February, 1890, 70 lst
April 1901 say 1872 months, prolific. 2O7 ,38O.31
Period 1st April. 1901, to 30h June,
1892, say Is mopths profit. 2j32G7.O1
equal annual net profit ofS16i,S47OO for
the period Of three years seven and one'haf
months or at OF S103, ,061 90 per ennum for
the last two years four and half months.
THE sTOCKHOLDERs or THE OLD COMPANY
HAVE TAKEN IN PART PAYMENT FOR ITS PLANT
s500. 600 OF THE PREFERRED STOCK AND ALL
OF TIE COMMON STOCK OF THE NEW COR
PORATION, and the undersigned have been author.
lied 10 offer for sale par and accrued interest from
the 1st October. 1892 100000 of Bonds, aud the
balance, 100000, Of Preferred Stock.
The Preferred Stock offered for sale will only
titled to dividends from the net earnings made after Oct
!, 1892.
Payments VIII be as follows: 10 per cent application.
and the balance within fifteen days after allotment, the
entire may be paid under discount at the rate
Of per cent per anhum.
The failure to pay final instalment may operate
as forfeiture Of the previous payment
Allotments will be made Immediately after the sub.
scripton closed, and in where IL Is not pfac
tcabc make any allotment the amount deposited on
application Will be returned possible.
The right is reserved to reject reduce any appll
cation and subscribers agree accept such reduced
amounts also, TO close the subscription books any
without notice.
Receipts Will be given Tor the instaIment when paid
and Bonds and Stock Certificates Will be delivered when
the final payment has been made. but not until after
Nov o.
SUBSCRIPTION BOOKS WILL OPEN OCT. 81
AND CLOSE NOT LATER THAN OCT. %.