The Providence news. (Providence [R.I.]) 1891-1906, 1898-05-18
A BIG CONSOLIDATION.

Envelope Manufacturing Concerns to
Combine Under One Management.
Messrs. Dean & 6hibley, Of N. Y. and
this city, the authorized financial agents
of the United States Envelope Company
which 10 to be incorporated under the
laws OF the State of Maine, have issued,
on behalf Of the company, an announce
ment of an extensive consolidation with
other manufacturers of envelopes, with
the result that the new company will ab-
sorb the following companies, the repre-
santatives Of which will be- directors OF
the company as follows: IA Is. Plimpton,
president Piimpton Manufacturing Com
pany, Hartford. Conn; James u. Able,
president Holyoke Envelope Company.
Holyoks, Mass q. Henry Whitcomb
treasurer whitcomb Envelope Company.
Worcester, Mass. Elisha Morgan, presi-
dent Morgan Envelope Company, spring
Held, Mass. James Logan, treasurer Lo-
gan, swift * Brigham Envelope Com
pany, Worcester, Mass. William IL. Pres
oott, president The white-C0rbtn az Com.
pany, Rockville, Conn. Nathan ID. Bill,
president Spripsfleid Enyelope Company,
Springfield, Mass; Charles w. Gray,
president w. II. Hill Envelope Company,
Worcester, Mass. ;Gsorac ID. Dutton, treas
urer \ atioral Envelope Company, Mil
waukee, wis. FIedsrisk 4. Kellogg. OF
the firm of y. r. kellogg a. Company,
Springfield, Mass. Charles ii. Hutchins,
PRESIDENT Crompton a. KNOWLES loom
works, Worcester. Mass
The above named companies control
about q PER cent Of the entire proc uction
Of commercial envelopes In the United
states. Their output IL about ~ O00. 600
per dey and they nave capacity for over
20.OOO,OO and the ten companies operated
under one head, will, Ii Is computed, show
an increase in net earning from that now
made OF over s4o0,OoD year. IL is claimed
that this increase will be made through
the savings in buying, ufacturinR.
selling ana shipping, and not by raising
the prices on the standard goods
The authorized capital stock Is 10 te
81. 900. COO. Of which IA, 800 0V0 will be is
sued. The entire business II to be taken
over. as OF Dec. 81, 1897. free and clear OF
all debts aud encumbrances, and all ex-
penses In the organization OF the new
corporation the Issuance OF Its stock and
bonds, ETC.. will not be a charge on ths
corporation. The new corporation will, In
addition TO nll Is quick assets, have an ex-
ira cash capital OF $3.50, coz, besides having
the rccrusd profits Of the year lssS pre-
ceding the organization. The t2OU.0 900
bonds will bs slC00 each. principal and
ihteest pWhI In soiu. interest NJ per
cent. per an~sm, payable semi-aDnualiy
on the first days of January and July NJ
the Old Colony Trust Company. Boston.
They will run for periou Of 20 years
when the privilege by the corporation
of being retired. any OF oil by loo, at eny
tine sfteri0 years at in4 ana interest. The
3. 750. 900 preferred stock, issued OF the per
value of $l0o per share, will on cumula-
tive ana preferred over the common stock
both as to fividsnds and assets. IL VIII
bear dividends et rer cent. per nnnum.
payable emi-snnuslly on the first davsof
March and Septen Der. Both the pre-.
fsrre1 and common stock are TO be reg
istered. and will lie full raid. non asses
snb BILE and non .lialie. 1he oreapization
uf the company and the legal validity
~ its bond and stock issues will bc In the
cherge cf Messrs. Dunbrr a. Rackemenn
ef Boston, anu will h. further approved
bv other eminc Mt counsel.