New-York tribune., 1900-05-01
TWO GREAT STORES JOINED
TIE SIEGELCOOPER COMPANY TO BE
COOPERATIVE
TWO MILLION DOLLARS OF STOCK SET
ASIDE FOR EMPLOYEES FREE-CUS-
TONERS MAY BUY SHARES
IN SMALL LOTS.
IN SMALL LOTS.

The Siegel-Cooper Company is about to unite fits
chicago and New-York stores and turn them into
q cooperative concern by which the employees
and customers may reap some of the profits to
which they contribute much. To accomplish
this now company the Siegel-Cooper Company
cooperative Stores. NewYork and Chicago) has
been incorporated under the laws of New-Jersey.
with capital of SPA 100000 Of which sl4 1900 is
divided into 200 shares per cent cumulative
preferred stock of $50 par value and SO 30 900 into
$4,000 shares common stock of $50 par value.
The charter Of the company provides that after
full dividends of per cent year have been paid
on the preferred stock. and full dividends of per
cent a year have been paid on the common stock
all additional dividends shall be apportoned and
paid on the basis OF one-third In amount on the
preferred stock and two-thirds IN amount on the
common stock To carry out the plan of cooper
alton with its employees S2.00ooo0 OF the common
stock has been placed In trust. the annual divi-
Gends OF which Will be distributed among such en-
ployes as have been or may hereafter be with the
New-York Chicago establishment for three
years. Such dividends will also be continued and
paid 10 employees for life who. after years Of
service with the new company. become incapac-
tated for further en- ployment. thereby practically
providing a pension fund for faithful employees in
their old age.
To carry the plan Of profit sharing It is pro-
posed by the present owners. who are the owners
OF eli the stock of the company. offer to the
public 900 shares fully paid and non-assessable)
upon which the full s per cent dividend must al
Ways PAID before the common stock receives any
dividend whatever the preferred stock also having
prior right 10 ali the assets of the company. In
II is desired to interest stockholders Gnstead of
speculatorsl, the money required 10 pay dividends
remain on deposit with the central Trust Company
Of New.York and the Illinois Trust and Savings
dends OF per cent per annum. payable per cent
such preferred STOCK as may be allotted in their
respective territories and each certificate Of stock
so allotted Will have Endorsement by said trust
companfes respectively 10 that effect
Under no circumstances. il is said will any OF the
common stock be sold ne present owners declaring
that they have no desire to sell out. but intend TO
The sieFel-cooper Company C9,9peTatiyeS IS Stores ,e
great department stores Of Sfegel-Cooper Company.
New-York. and Siegci Cooper & Co, Chicago, in
acres with their millions Of dollars worth of mrr
chandise, store fixtures, delivery plants consisting
chinery extensive stable properties and all the ap.
purtenances required for the complete operation of
and real estate in New-York City, which alone
represents an asset of many millions OF dollars
free of all encumbrances or Indebtedness whatso-
ever that the Siegel-Cooper Company (Co-opera-
career without owing a Single dollar II IS asserted
There Will be no change in management and the
original Siegel. Cooper & Co store in Chicago Cand
achieved success in modern retailing have pledged
themselves to continue in the management Of the
n6 81 ih the % @ 5s b as n rl f
Company OF New-Yorl all of their stock holdings
fGs fs for the R c % sares Of the
ferred stock will be received In person or by mail
Central &c i- trust ~ St company. No i WaIi-st, New
York and siegel-Cooper Company; New-York and
end will continue for a period of week The
upor one DAYS notice in the New-York and Chicago
daily papers. 1t IS proposed 10 allot the stock in
one share: second TO ali Subscriptions FOR TWO
shares: third. to all subscriptions for three shares
and to continue in the same order for larger sub
scriptions.