The Providence news. (Providence [R.I.]) 1891-1906, 1898-05-19
A BIG CONSOLIDATION.
Envelope Manufacturing Concerns 10
Combine Under One Management.

Messrs. Dsan q Shiblsy. OF N. Y. and
this CITY. the authorised financial agents
Of the United States Envelope Company
which is to be incorporated under the
laws of the State OF Msine. 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 ABB
sorb the following companies the repre-
sentatives of whioh will be directors OF
the company as follows: L. b. Plimpton,
president Plimptou Manufacturing Com
pany. Hartford. Conn. James Il. Abte,
president Holyoke Envelope Company.
holyoke, Mara u. Henry Whitcomb,
treasurer Whitcomb Envelope Company,
Worcester, Mass. Elisha Morgan, presi-
dent Morgan Envelope Company, Spring
Held, Mass. James Logan, treasurer Lo-
gan, Swift 81 Brigham Envelope Com
pauy. Worcester, Mass. William II. Pres
cott, president The White. .Corbin a. Com
pany, Rockville, Conn. Nathan ID. Bill,
presidents Sprinafleld Envelope Company,
Springfield. Mass. Charles W. Grey,
president w. Ii. Hill Envelope Company,
Worcester. Mass. ;ueorgc ID. button, treas
urer National Envelope Company, MIL
waukee. Wis.,; Frederick Il. kellogg. OF
the firm or u. T.. kellogg a. Company,
Springfield, Mass. Charles III. Hutohins.
president Crompton a. KNOWLES loom
works, Worcester, Mass.
The above named companies control
about 90 Ger cent. of the entire proc uction
of commercial envelopes in the United
staJes. Their output IL about ~, oOuOoO
per day. and they nave a capacity for over
20, 700, 900 and the tan companies operated
under one head, will. 1t Is computed, show
an increase In net earning from that now
made Of over s400,00o a year. IL 10 claimed
that this increase will be made through
selling and shipping, ana not Dy raising
the prices on the standard goods
The authorized capital stock Is to be
t5, O00 600. Of which "a, 500, 900 will be Is
sued. The entire business Is to be taken
over. ns of Dec. 81, 1897. free and clear OF
oil debts and encumbrances, and ell ex-
penses In the organization OF the new
corporation, the issuanoe OF its stocx ana
bonds, etc.. will not be- charge on. the
corporation. The new corporation will. In
addition to its quick assets, have an ex-
ira cash capital of $3.50, COO, besides having
the accrued profits of the year 1898 pre-
ceding the organization. The ". OOO, OCo
bonds will pe $1,000 each, principal ana
interest payable in Rold Interest at per
cent; per annum, payable selni,annusiy I,,,
the Old Colony Trust Company. Boston.
They will run for a perioo of 20 years.
when the privilege by the corporation
of being retired. any or ell by lot, at any
time afterl0 years at l04 and interest The
s3. 7b0, 600 preferred stock, issued OF the par
value of 500 per share, Will 90 oumula-
tive and preferred over the common stock
both ns to dividends and assets. IL wall
pear dividends ut per cent. per annum.
payable semi annually on the first dave OF
March and Septem Der. Both the pre-
ferred and common stock are to be reg
istered. and will be full raid, non asses
sable and non liable. Ihe organization
Of the company and the legal validity
OF its bond and stock issues will be In the
charge of Messrs Dunbar q Rackemann
Of Boston, and will be further approved
by other eminent counsel.