New-York tribune., 1899-01-14
financial.
TO the Preferred and Comm
Stockholders of the
AMERICAN STFFI
AND WIRE COMPANY

AND WIRE COMPANY
During several months past The holders 0. .,,
ton Of the shares Of the American Steel ana yv, ~
pany have been carefully considering the .s,ssa-
Of obtaining by purchase or reorsanlzaton Other ,T
wire concerns N the United states anonx nas
Cleveland Rolling Mi Company Of Cleveland osa I'm u
ufacturers OF pig iron. Bessener steel ana op.,.-
steel az well wire In It's various FORMS and ~. NJ
burn & Moen Manufacturing Company Of wo-,.''F-
Mass. and waukegan III.
I, is believed that there would result greater 49,,
IN management and operation and thereby - q, -
tage n all the stockholders Of the several oo,.
After thorough investigation OF the several ,,.H
and their values actual well relative the .cr-
tion OF the following plants has been assured vn,.
Jus, and ,air basis:
Washburn d Moen Misunderstanding e.
pnny of Worcester, Mass. and wauker.s
Ill.
Worcester Wire Company Of worce,,.-
Mass
Cleveland RoIiing-Min Company of C.x.
land, Ohio.
oliver d snyder Steel Co. or Pitfsbn.~.
oliver Wire Company OF Pittsburgh p.
Newcastle Wire Nail Company OF ys~
castle, Pa.
Pittsburgh WIRE Company of Fittsbu,..
Po.
Cincinnati Barbed-Wire Fence Compan, =.
Cincinnati, Ohio.
L8idlaw Bale and Tie Company Of JoIts.
H.. and Kansas City. No.
Consolidated Barb-Nirc Company Of Law
renee. Kan, and Joliet, III.
Newburgh Wire and Nail Company a.
Newburgh. y. Y.
To accomplish he object suggested, TIE following u,,
/ has been agreed upon
AGREEMENTS HAVE BEEN ENTERED INTO yn,
THE ORGANIZATION or A CORPORATION UypEs
THE LAWS OF THE STATE or NEW JERSEY n
BE KNOWN As THE AMERICAN STEEL AND WIZ,
COMPANY THIS CORPORATION WILL HAVE Az
AUTHORIZED CAPITAL STOCK OF s9Oe0Oo Q,
WHICH siOOO0Coo WILL BE SEVEN PER CEN,
CUMULATIVE PREFERRED STOCK AND S50Omm
WILL BE COMMON STOCK.
This corporation will acquire the above properties .S.
by direct ownership through the ownership of IA
than a majority u the capital stock. where II u ID
practicable to purchase the properties Themselves.
A SYNDICATE HAS BEEN FORMED WHICH WILL
FURNISH THE NECESSARY CAPITAL FOR III,
ABOVE PURCHASE, AND IN ADDITION THERETO
PROVIDING THE NEW COMPANY WITH A WORE.
ING CAPITAL OF ABOUT Sl3OC0ooo EXCLUSIVE u
THE WORKING CAPITAL or THE SEVERAL COZ.
GERMS WHICH WILL ENTER THE NEW CoRpoal-
TION WHATEVER NAY BE NECESSARY OF TaJ
WORKING CAPITAL MAY BE USED FOR THE prE
CHASE or OTHER PROPERTIES WHICH NAY 30
AGREED UPON HEREAFTER THE ENTIRE AMouy,
OF CAPITAL TO BE FURNISHED By THE sYNDl
CATE BEING SOS 600 600.
The syndicate agreements Will provide that the N-
Jersey company shall acquire such or the capital stock
the American Steel and Wire Company. Of Illinois
less majority thereof however. be orsr
on the following basis
For each share of the preferred stock Of
the Illinois corporation the holder thereof
shall receive one share OF the seven per
cent. cumulative preferred stock OF the New
Jersey corporation, and I'm addition therets
six-tenths of one share OF the common stock
Of the New Jersey corporations for each
share of the common stock of the Illinois
corpora ton the holder thereof shall receive
one and two-tenths shares of the commoa
stock of the New Jersey corporation. IL
further arranged that the ban king-house
OF j. G. w. sELIGMAN a co. OF NEW YORK
CITY. or its agent for that purpose 'FhE
ILLINOIS TRUST AND sAN,NGs BANK OF
CHICAGO ILLo. will exchange the certih.
cates of the American Steel and Wire CON-
pany, of Illinois on the above-named bash
provided the same are presented ana de-
posted AT either of the ofhces ABOVE nAmea
on or before TUESDAY. JANUARY IL, ls's'
that In event OF delay In fssuins tne GER
tificates of the New jersey corporation in-
term certificates will be issued exchange
able for the engraved certificates when "
sued The interim certificates VIII De !"
sued by either j. & w. SeIgmhn IL Co.
their agents uhe Illinois Trust hno Sa'"s'
Bank at Chtcago).
7, Is very desirable that fiscal year az ne y"
Jersey corporation commence on January l. 1873 sha
tha- end the plan must be corsummated a. the e4's
possible date therefore the stockholders IN the A''
steel and Wire Company. ot Illinois are reliese'
presen. and deposit their stock promptly 90 that ne As
may be speedily ana without delay exchanged, and "
organization OF the NeV Jersey company facliia,ec
Books of transfer of the American steel and wv
Company. Of Illinois. closed on wednesday JaaaA'
4th 1893 and Will not he reopened until about Jaacn'
18th 1899 and the books Of the New Jersey oopoFa'1
will be opened as me engraved cerncA's ~
ready Tor delivery. later. however II Is oeAs'eA
than January 18th 1899
1T IL PROPOSED THAT THE NEW CUM
PANN WILL DECLARE REGULAR QtA~
TERLY DIVIDENDS ON THE PREFERhtD
STOCK OF ONE AND THREE-Qt AhIER
PER CENT. Beginning ABOUT APRIL ISL
1899.
The undersigned comprising the en,-e boac
Directors Of the American steel and Wire Company
Illinois after careful consideration believing that "
consumnaon Of the plan proposed viii increase eaFns>
decrease expenses result IN stable cost OF MAJ
facmre and more satisfactory results 10 the siockhoa
have decided 10 exchange their shares IN the u1
corporation for shares the New jersey corpofin-
upon the above named basis.
Il. W. GATES.
A CLIFFORD,
L. EII.MOOD,