New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-11
finanrtd,
TO the Preferred and Commos
Stockholders of the
AMERICAN STEEL
AND WIRE COMPANY

AND WIKI COMPANY
During several months past the holders of Iarp ~.
ton Of the shares Of the American Steel Wire Co..
pany have been carefully con'derins the sdvsasutv
obtaining purchase reorganization other l.aans
Ere concerns In United States among them m
Cleveland Rolling Mil Company, n Cleveland. Ohio man.
ufscturers pig IRON steel and openhesyts
steel. wire It's various forms. and Wash
burn Moen Manufacturing Company. Of woroess.,
! Mass. and Wankegan Ill
II Is believed there would result soonomv
in management operation and thereby be Of acvan
tase to all the stockholders Of the several compsnia
After thorough Investigation Of the several prop>rt
their valufs actual well relative. the scqu,a
ton Of the following plants has been assured upon
! Just and fair basis:
Wasbburn Moen Manufacturing Corn
pnpy Of Worcester, Mass. md Waukegan.
III.
Worcester Wire COMPANY Of worcests,
Mass.
Cleveland RoIIing-MnI Company Of CIevs.
land Ohio.
oliver q Snyder Steel Co. Of PittsburrA
Pa.
oliver Wire Company Of Pittsburgh, Pa
Newcastle Wire Vail Company Of New
castle. Pm.
Pittsburgh W.re Company of Pittsburrh.
Pa.
Cincinnati Bnrbed-Wire Fence Company q
Cincinnati ohio
LnidInv Bale and Tie Company Of Joliet.
HI aud kansas city, Mo.
Consolidated Barb-Wire Company Of Law.
renee. Kan. and Joliet. ILL.,
Ncvburgh Wire and Nail Company %
Newburgh. y. Y.
To accomplish he object suggested the following plan
has been agreed upor.
AGREEMENTS HAVE BEEN ENTERED INTO FOR
THE ORGANIZATION OF A CORPORATION UNDER
THE LAWS OF THE STATE OF NEW JERSEY TO
BE KNOWN AS THE AMERICAN STEEL AND WIRE
COMPANY THIS CORPORATION WILL HAVE AN
AUTHORIZED CAPITAL STOCK or 100000. OF
WHICH s4oooooo WILL BE SEVEN PER CENT.
CUMULATIVE PREFERRED STOCK AND s5o.ooo0o
WILL BE COMMON STOCK.
This corporation ~l acquire the above properties either
ownership through the ownership Of not lees
than majority = the capital stock. where II is not
practicable TO purchase the properties themselves.
SYNDICATE HAS BEEN FORMED WHICH WILL
FURNISH THE NECESSARY CAPITAL FOR TIE
ABOVE PURCHASE. AND IN ADDITION THERETO
PROVIDING THE NEW COMPANY WITH WORK
ING CAPITAL OF ABOUT $1,000 600 EXCLUSIVE OF
THE WORKING CAPITAL OF THE SEVERAL CON-
GERMS WHICH WILL ENTER THE NEW CORPORA
TON WHATEVER BE NECESSARY OF THIS
WORKING CAPITAL MAY BE USED FOR The PUR-
CHASE OF OTHER PROPERTIES WHICH MAY BE
AGREED UPON HEREAFTER THE ENTIRE AMOUNT
or CAPITAL TO BE FURNISHED BY THE sFSpi-
CATE BEING S2s.oOooOo
TIE syndicate agreements will provide thar the New
company acquire such of the capital stock
the American steel and Wire Company ~ Illinois. NOT
less than majority thereof however he offered
IN 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 In addition thereto
six-tenths of one shire of the common stock
of New Jerse, corporations for each
share OF the common stock OF the ILLINOIS,
corporation the holder thereof shall receive
one md twO-tenths shares OF the common
stock of the New jersey corporation. 10
further arranged that the banking house
of j. 4 W. >ELIGMA> q co. OF Ne" fohh
CITY or its agent for that purpose fTHE
ILLINOIS TRUST AID SAVINGS BANK OF
CHICAGO. LID. will exchange the cerrn-
Gates of the American Steel and wire Com"
pany. of Illinois. on the nbove-named oasis
provided the same are presented and de-
posted nt either Of the Offices above named
on or before TUESDAY. JANUARY IL. 1881
that in event of delay In Issuing the Ger
tifcntes of the New Jersey corporation ms
terim certificates will be issued exchange"
able for the engraved certificates when -
sued. The interim certificates Will be IS
sued by either j. W. SehGmnn q %. or
their agents Uhe Illinois Trust ana sa'in1s
Bank at ChicagOl.
II Is very desirable fiscal year Of the view
Jersey corporation mrence on January l. 1899 ana
that end the plan be consurmaed AZ the earliest
possible date therefore stockholders IN the American
S,ael and Wire Company Illinois requested 10
present and deposit promptly that the zane
may speedily and without delay excnansed sn' NV
orga tire New Jersey company facllldlc.
Books u transfer The American Steel and WIZ
Cornranv az Illinois closed "Wednesday January
4th 1890 and BE- reopened until about January
18th 1899 ard books Of the New jersey corporation
will be opened = The engraved certificates are
ready delivery later. however IT is believed
than January 18th. 1899.
1T IS PROPOSED THAT THE NEW CON.
PANY WILL DECLARE REGULAR QUAR-
TERLY DIVIDENDS on THE PREFERRED
STOCK OF ONE AND THREE-QuARTERS
PER CENT, beginning ABOUT APRIL 1ST.
1890.
The undersigned. comprising the entire Board OF
Directors Of the Steel and Wire Company. OF
Illinois after a consideration believing that the
contamination pan proposed will earnnsA
expenses result IN stable OF manu-
acture satisfactory results the s,ockhoden
decided o exchange their shares Illinois
corporation in the New Jersey corporation
upon the above named basis:
j. w. GATES.
A. CLIFFORD,
I. l.. ELLWOOD.
CHAS. DOUGLASS,
WM. EDENBORN.
s. II. CHISHOLM
JOHN LAMBERT,
+. BAACkEs,
r.. II. GARY.
T.. j. BUFFINGTON.
w. H. ROWE.
January = 1899