New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-16
f,m&nai,

hFLkILAN STEEL
AND WIRE COMpAN,
During several months past m. hold.r,u
tion Of the shares OF the American Steel ara rn
pany have been carefully conriderine N. ~
OF obtaining by purchase or reorganization or,
virc concerns In tho United States sno. NJ
Cleveland Rolling Mil Company. Of cieyeIa,h o. sam
ufacturers OF pig iron. Bessemer steel ana 49," T.
steel. well as wire In It's various form. az
burn Moen Manufacturing Company 40 No ~
Mars. and Waukegan. III.
II IL believed that there would result r,..,.
in management and operation. and thereby +. :.
iose 70 all the stockholders Of the several
After thorough investigation Of the several 49,.
and their values. actual As we'll as relative. III. ~.
ton Of the following plants has been assur,a ~"
Just and fair basis: W.
Washburn Moen Manufacturtn. .
pany of Worcester, Mass, and ws.r.~
III.
Worcester Wire COMPANY Of wo,
Mass.
Cleveland RoIling-MiII Company q, r..
lnnd. Ohio.
oliver q snyder steel Co. of Pit,.,.-
Pa.
oliver Wire Company Of Pittsburrh -
Newcastle Wire Nail Company Of ~
castle. Pa.
Pittsburgh Wire Company of Pittss,,u
PA. ~f
Cincinnati Barbed-wfre Fence Comn.,.
Cincinnati. Ohio. IVY
LaidIaw BALE and Tie Company of J.,.
H., and Kansas CITY. Mo.
Consolidated DarbWfre Company Of L.
renee, Kan, and Joliet, III.
Ncwburgh Wire and Nail COMPANY II
Newburgh, n. Y.
To accomplish he object suggested the tolbv,.s =,
has been agreed upon:
AGREEMENTS HAVE BEEN ENTERED INTO >, /
THE ORGANIZATION or A CORPORATION ryo
THE LAWS OF THE STATE OF NV JERSEY
BE KNOWN AS THE AMERICAN STEEL AND VA
COMPANY. THIS CORPORATION WILL HAVE MI
AUTHORIZED CAPITAL STOCK OF seoVaM d!
WHICH 100000 WILL BE SEVEN PER cry
CUMULATIVE PREFERRED STOCK AND sNmsI
WILL BE COMMON STOCK.
This corporation will acquire the above properties "a,
by direct ownership ,r through the ownership Of na
than a majority ot the capital stock where 81
practicable 10 purchase the properties themselves
A SYNDICATE HAS BEEN FORMED WHICH VII
FURNISH THE NECESSARY CAPITAL FOR nj
ABOVE PURCHASE AND IN ADDITION THERE
PROVIDING THE NEW COMPANY WITH A woa
ING CAPITAL OF ABOUT si3o 900. EXCLUSIVE nj
THE WORKING CAPITAL OF THE SEVERAL OK
GERMS WHICH Will. ENTER THE NEW coRrosl
WORKING CAPITAL MAY BE USED FOR The Pl
CHASE OF OTHER PROPERTIES WHICH NAT q
AGREED UPON HEREAFTER. THE ENTIRE AN0u,
OF CAPITAL TO BE FURNISHED BIZ The sYy.l
CATE BEING s2s,0co0cO.
The syndicate agreements will provide that hs w
Jersey company shall acquire such Of the capital roas
the American Steel and Wire Company OF llinoa
less than majority thereof however as may e Goes
On the following basis:
For ench share of the preferred stock
the Illinois corporation the holder theres
shnII receive one share of the seven ~
cent. cumulative preferred stock OF the Ms
jersey corporation. and in addition thervn
six-tenths of one share of the common sssd
of the New jersey corporations for esa
sbare Of the common stock OF the Iiiinsh
corpOrut ton the holder thereof shall reesiu
one and two-tenths shares of the comma
stock of the New Jersey corporation "s
further arranged that the bankine.heW
of J. a w. sELIGMAN & co. OF NEW foM
CITY, or its agent for that purpose uh
ILLINOIS TRUST AND SAVINGS BANK "
CHICAGO, LID, will exchange the cesus
c.tes Of the American Steel and Wire Css
pany, Of Illinois. on the above-named ess
provided the same are presented ans
posted Mt either Of the Offices above hssS
ON or before TUESDAY, JANUARY IL, IN
that In event of delay In issuing INC O
dictates of the New Jersey corpornhsa
,.r,u, certtGca ties will be issued exchasgr
able for the engraved certificates when
sued The interim certificates Will eeS
sued by either j. & w. Sehgman ~
their ngents Uhe Illinois Trust ana ss'sp
Bank Mt Chfcago). 49,
7, q, very desirable that the fiscal year Of The ~
Jersey corporation commence on January j. 1875 az ,
that end the plan must be consummated al 'ne sA.-
,ossih, date therefore the stockholders In the Ame
Steel and Wire Company. Of Illinois are reaae'N
present and deposit their stock promptly so that ne ".
may be speedily and without delay exchanged sns
organization OF the New Jersey company facilitated
Books OF transfer OF the American Steel and WI
Company Of Illinois closed on Wednesday Ja'a'
4th 1899 and will be reopened until about Ja1x'
18th 1879 and the books OF the New Jersey eorp0"'-
will be opened as the engraved eerhea's y
ready for delivery. not later. however II Is 0es~
than January 25;h 1899.
1T Is PROPOSED THAT THE NEW COL
PANY WILL DECLARE REGULAR QtN
TERLY DIVIDENDS ON THE PREFERR'
STOCK OF ONE AND THREE-QtA RIEn
PER CENT. BEGINNING ABOUT APRIL III
1900.
The undersigned comprising the entire BOA"
Directors OF the American steel and Wire Company :
Illinois after careful consideration. believing thsi
consummation OF the plan proposed will increase esnr
decrease expenses, result In more stable cost OF n
facture and satisfactory results 10 the stockao
have decided TO exchange their shares in the i
corporation for shares In the New Jersey eo'pofs~
upon the above-named basis:
j. w. GATES,
A. CLIFFORD,
1. l.. ELLWOOD.
CHAS. DOUGLASS
WIN. EDENBORN
s. IL. CHISHOLM.
JOHN LAMBERT.
F.. BAACkEs.
Il. II. GARY,
+. J. BUFFINGToA
w. II. ROWE.
January 7, 1862