The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-11
sinantial.

oAAAh VI Wv
ISSUE OF $3.50, 600
5 per cent. Preferred Stock
CAPITAL STOCK,
FIrty thousand shares . per cent. non-oumu-
lntive preferred stock, enoO each.
FIFTY thousand shares common stock, a1oO
each.
OF THE PREFERRED sToCK 600 SHARES HAVE
ALREADY BEEN ISSUED; $500 SHARES r
NOW oFFERED. AND Fl BALANCE REMAINS
IN THE TREASURY OF THE COMPANY. N
DIVIDENDS DECLARED AFTER THE COMMON
STOCK SHALL HAVE RECEIVED = PER CENT.
ARE TO BE DIVIDED n RATA THE
COMMON STOCK AND II "PREFERRED STOCK
THEN OUTSTANDING,
Oficers and Board Of Directors:
O.. X. KIssEH, New York,
ActinE President.
sAAC l.. RICE. Few York.
vice-Presideut
NORMAN HENDERSON, View York.
Secretary and Treasurer.
EDwAR TUCK. Paris.
HILL LEHMAN. New York.
MALONEY. Philndelphia.
W. w. GIBBS. Phiiadelphin.
THE ABOVE e25o.o 900 OF STOCK HAS BEEN
UNDERWATER BY A SYNDICATE.
The entire amount of sabo. 1000 10 to be expended
for the benefit Of the Company. no part of 1t for
patents, franchises. or commissions.
The 900 shares OF preferred stock have been used
in the acquisition Of tho rights, patents, and inven.
tlons, contracts, and assets, Including fourteen cabs.
now in use. Of tho Electric Carriage and Wagon
Company.
Contracts have been placed for the construction
and complete equipment Of 90 coupcs, and 90 han
som cabs of an improved model.
Tha nricon N q vvhtCh thaaa NNnfrnOtn hnyN hAnn
placed show that $3.50. 900 will sunlce to build the
100 cabs. equip a station complete in every respect
for economical operation, and leave an ample
amount for working capital.
1t is expected to have the new carriages in opera
ton early in the spring. Tho premises 1880. 1888.
principal station.
Fo. further Information We refer to the following
letter from Mr.. Isaac L. Rice. President of the Elec-
trio Storage Battery Company Of Philadelphia. and
former President of the Electric Carriage and Wagon
Company.
New York. December 81st, 1897.
Messrs. KEssLER & co.:
Dear Sirs, The Electric Vehicle Company having
taken over the business. property. and rights Of the
Electric Carriage & Wagon Company. of which was
the President. I beg to submit q statement of what
has been accomplished in the past. and what. upon
conservative estimates. may DO expected in the
future.
The economical reasons which led to the displace-
ment of animal power by Electric Traction in tho
Street car service apply to all kinds of vehicles. For
the purposes of commercial test It was deemed advis.
able to establish an electric cab station for a period
of time sufficient to Judge the matter from results.
and not from theories. Tho Electric Carriage &
Wagon Company established such o station at No.
14O West 99th Street. New York. and has operated
fourteen cabs since January last. Experience proved
the practicability of the electric vehicle in that its
A.. "A
public. and the financial results invited an enlarge
ment of the business.
With the data obtained from the operation OF four
teen cabs, I can state that the net income from tho
operation of ono hundred cabs should be ample to
pay an eight per cent. dividend on the nrst issue OF
the Electric Vehicle Company Preferred Stock, and
leave q surplus applicable to the Common Stock.
~(signed) ISAAC L. RICE.
On behalf Of tho Underwriting Syndicate. we arc
authorized to receive subscriptions at par for Q, 800
shares (s2b0. OOo) OF the preferred stock Of tho Elec-
trio Vehicle Company, the subscriber to receive in
addition to each share of preferred stock subscribed
and paid for by him one share OF full paid non. assess.
able common stock.
20 per cent. OF the amount Of subscription 10 pay
able in cash at the time OF allotment. the balance in
three installments Of 25 per cent. each upon ten days
notice by mail; payment OF installments may be an
ticipated.
subscribed for and amount paid will BIS issued to
subscribers at tho time Of payment Of nrst install.
ment.
The right is reserved to reject or reduce subscrip-
tons.
subscriptions will be received at the ONCE OF tho
undersigned. and also at the ofce of Z. W. CLARK &
co, PHILADELPHIA. and at tho STATE STREET
TRUST CO., BOSTON.
The Subscription books Will close January IN
Mt o r. N. Form OF subscription can DO OBJ
taInei at the omces or tho above named or or
Kessler & Co.,
90 WALL STREET NEW YORK CITY.