The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-07-10

EAID An NON.ASSESSA BILE,
The company will begin business without any debt or
liability The charter of tho company and its bylaws
provide that bond gnso be created with
out tho consent Of 10 cent OF the Preferred stock
holders; also that this provision cannot be altered
except By the like Affirmative vote.
OFFICERS.
P. o. FRENCH President
c chaRhDs R. ' psasiss, v,e.rr..a.n,.
DIRECTORS.
?. o. FRENCH. President OF tho Manhattan rrus.
Company. New York.
JAMES II. BENEDICT of E G. Benedict / Co.,
bankers New York.
SAMUEL r. SIMPLIFY o, Philadelphia
JOHN II. DAVIS of John II. Davis Co.. bankers New
York.
FRED II. BENEDICT of Z. c. Benedict 4 Co.. bank.
ers New York.
A. NJ. DRAKE Of st. Paul. Mimi
HARRY WALTERS. viccPresdent Of tho Atlantic
Coast Line Railroad. Wilmington. N. c.
PEMBROKE JONES Of tho Carolina Rice Milling Com.
pany. Wilmington. NC.
l.. " DOUGLAS Of Philadelphia.
+. O. kEAS3EY. attorney. Newark M
ALBERT BALDWIN. President New Orleans National
Bank, New Orleans la
GEORGE r. PRESTON, President Hibernia Nation al
Bank, New Orleans La.
GEORGE DENEGRE. attorney. New Orleans La
pany. New Orleans La.
The vendors OF the mills retain arQsr
OF the Com mon Stock.
A considerable amount OF the stock has
already been nppli for. The balance of
81 100000 of the Preferred stock In now
offered tor subscription nt par; subscribers
will receive a bunus in Common stock
OF so per cent. OF the amount OF their sub.
scr:ptions to Prcre rred.
subscriptions will lie payable as follows:
10 per ccnt application.
80 per cent. or allotment.
20 per cent. In hfiecn days
90 per cent In thirty dnys)
The subscription lists will be opened simultaneously
at 10 O'Clock a. NJ. Monday. July II. 1892 and Will
close or before Wednesday, July Is. 1892 at 8
O'Clock 7. NJ. at the offices OF
JOHN II. DAVIS a. CO.. 10 Wall Street
New York;
THE UNITED STATES TRANSFER
AND EXCHANGE ASSOCIATION, ut the
Office or the
aiANHiTTAN TRUST COMPANY, cor.
ner Vail and Nassau Streets. New York;
THE SOLICITORS LOAN AND TRUST
COHPANY, lag south Attn street, PhIIa.
deIphia.
Suhscrip Ions will also be received by
M-s1s. l.. &. KEEEEltT & CO., New
York; AIcssr-. IAMBLET0N a. CO., BAL
timore. sd; The ILLINOIS TRUST AND
SAVINGS EiNK, Chicaao. III.
Advance subscriptions be made with any of
the bankers PRO: 10 the forma, opening of the lists
Subscribers will have the option Of paying In full on
allotment Interest antc rated payments will he
allowed at the rate of per cent per annum. The
failure 10 pay any instamen when duo will forfeit
previous payments
This corporation has been formed purchase unite
and take going concerns five OF the lsrg st
rice milling Establishments In the United States.
namely: The mil operated by the New orleans Rice
Milling Company. Sew orleans. La: tho Persever
Eice Mil Of New Orleans. La. and three mills
operated by the Carolina Rice Milling Company.
locate, respectively Mt Wilmington. Godshorough.
ard Washington. y. T.. the consideration for such
purchase being "refcrrel AMI Common Stock Of tho
company o: The aggregate par value of SO. 1855 O)o
81 $4,000 Preferred. i.SGj 900 Common STOCK \
this being the tc'nl present issue. These proper
ties conveyed with their real estate. clear all
remembrance. machinery. fixtures. good will! trade
marks. &c.
The remaining stock which the company is author.
lied under charter to Issue Will remain in tho
treasury of the company for the or the company
ana sui jet to at later date for the acquire
o: iitional properties or the enlargement of the
already owned.
The company Will Immediately en;nrge lis
mills III New Orleans to three times the ir
present capacity, and. after the cxpcndI-
turcs necessary 10 effect these improvements
have bren iEudr, the company will hmv., ~
cash working capital. the sum Of about
S;,iJ,O0O.
TIE FIVE MILLS ACQUIRED pY
THIS COMPANY HAVE HEES OFF
RAT 70 VNDEK THREE SEPARATE
OHsaaSIZATSoNS WITH VERY MAR
EQIATE WORKING CArITAL. THE
NET EARNINGS. HOWEVER. DUHINH
THE PAST EAR. UNDER THEA DIS.
ADVANTAGES, AND WITH I.ESS
THAN OSE-HALF Of THE CAPACITY
WHICH THIS COMPANY WILL HtvE
WHEN THE IMPROVEMENTS NKE
COMPLETED, WE'RE SDa,O0O. OR OYEi.
PER CENT. UPON THE ENTIRE PIE
FEKHED STOCK NOW ISSUED. Ti;I>
STATEMENT OF EARNINGS H. CON-
FIHNED HE THE CERrIFIC \TE OF
MESSHr'. BARROW. WADE. GUTHRIE
q co as FILE TIE OFFICE or TEE
EANMEE~. THE CAPACITY OF Tu J.
FIVE: MILLS WILL. BE FULLY DOC-
BIED. AND THE COST OF NAN AGE
MENT AND OPERATING GREATLY
DECKEASED.
during the first year. with Its greatly increased
pacity and facilities. and with its Ample work ing capt.
tai make proht OF not less than Sa8O.oJo Earnings
TO this amount would enable dividends to be paid on
the stock issued as follows:
Preferred stocI. 81 $4,000. mt
per cent. S1OS. 600
Common stock. 0l.sOj.OO0. Mt
per 1<0, zoo
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