The Providence news. (Providence [R.I.]) 1891-1906, 1895-01-24
Kent & Stanley Company Ask
for Extension.
Unable to Meet Their Maturing
Payments.
A Meeting Of Creditors HilI BE Called
Later.

The Kent & Stanley Corypany have Boti>
fed their creditors that they are unable
to meet their maturing payments as they
become due and are obliged to ask for an
extension.
The affairs of the company are now
being Investigated, and just as soon as :
statement is ready meeting of the credi>
tors will be called to confer as to what
steps will be taken in the premises.
1t is said that the big property of the
company is mortgaged to the amount Of
about S260,000. 1t is also reported that
the inability to dispose of as much as was
anticipated of the capital stock Ii respon~
sible for the difficulty the enterprisine
company finds itself in.
Neither Secretary j. s. Warren nor Mr..
STANLEY OF the corporation care to say any
thing about the embarrassment pending
the preparation OF a report for the cred
itors and the making of further state-
ment by the board of directors.
Now that the "murder is out,n every@
body is talking about the affairs of the
Kent & Stanley Company and many ~
told you so's,' are to be heard sverywnero.
The exact relation between the Kcnt-
Tingley Building and Land Company and
the Kent Stanley Company does notap
pear on the records at the State House, but
outsiders tell Of wonderful schemes af6l Y
TO embrace the whole territory In tho
vicinity of the factory by the former cor.
porstion. In fact, it is stated that among
other plans the Kent-Tirgley people In
tended to embrace the old Calender
Building among other purchases and tuy
it into big factory.
The present factory occupied by the
Kent q Stanley Company has. it IL under.
stood, but Six occupants, beside the firm,
and two moro are promised. This means
that about three-fourths of the building
il vacant
A NEWS reporter, having the exclusive
information OF the embarrassment, called
at the Office OF the company and was
courteously received. He noticed,
by the way, that the curtains,
were down, except those of the private
Office, and the elevator boys said those
should be drawn, "becausc they are hav.
ing SO many meetings there"
According to the returns at the State
House Mr.. Kent is at the head of both
companies.
Following is an abstract Of the incorpo-
ration acts of the two companies:
The Kent q Stanley Company was or
ganized March Z, 1891. On Feb. "a, 1891,
''an act TO incorporate The Eagle Furni-
ture Company" was enacted by the Gen.
eral Assembly, as follows:
Section / of an act entitled can Act ~
incorporate the Eagle Furnishing Com.
pany," is hereby amended SO as to read a.
follows:
section ]. Edwin f. Kent, Arthur w.
Stanley and Daniel G.. Littlefield, their
associates, SUCCESSORS and assigns, ara.
hereby created corporation by the name
of the Kent & Stanley Company, for the
purpose OF manufacturing, selling or
otherwise disposing of jewelry,
plated ware, and articles useful
and ornamental in metal, and for the
Transaction OF any other business con-
nected Herewith or incidental thereto,
with all powers and privileges, and SUBJ
ject to all the duties and Liabilities set
forth in Chapters 152 and 155 Of tho Pub
lie Statutes" etc.
The capital stock was fixed at sum not
exceeding 100000, OF which 100000 was
paid in upon organization. On Tuesday
OF this week a return was filed at the
office of the Secretary Of State showing
that the balance of the capital stock
(;2O0, ,000) had been paid In.
The Eagle Furniture Company's charter,
granted Jan. 80, 1891, was never taken up
and, as was customary at that time, the
Kent g. Stanley Company, upon deciding
to become incorporated, procured ths
rights granted under the Eagle Furniture
Company's charter by the special act in
amendment alluded to above.
Chapters 152 and 155 OF the public stat
utcs aforementioned gives the company
the right to hold or transfer real estate.
according TO the requirements OF their
business.
Edwin +. Kent, Frank +. Tingley ana
John A. Shibley on the tenth day OF Sep
tember, 1884, corporated under chapter
1900 OF the public laws of the State,
passed at the January session OF the Gen.
cral Assembly in 1898, by the narne OF ths
Kent-Tingley Land and Building
Company, for the purpose of
acquiring, holding, building upon
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