The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-04-21

1t will be increased to $500. 600. OF the en-
tire amount. 5000 will be set aside as
z per cent, preferred stock. This has al-
ready been sold to Altheimer & Rawlings,
! stock and bond brokers. who will pay the
cash upon its issuance. as soon as lega1
forms have been compiled with. About $780,
900 of the stock is to be used to absorb the
surplus. and will be divided among stock
holders.
least $4,000 of the new stock will be
| treasury stock and will be reserved for sale
tc employees. A part of it may be presented
| to them.
The officers and directors in eur COM
rany are believers in the cooperative plan.
| ard wish to encourage our employees in
every manner possible
Messrs. King and Merrick. although bust
ness rivals for more than thirty years.
had never become personally acquainted
with each other until introduced by Mr..
| Widen. of the firm Of Barr & Widen, Satur-
| DAY.
The contracts for the sale were. signed
Thursday, but the deal was not completed
until Saturday. Joseph H. Widen. who per-
sonally conducted the sale, said:
NEGOTIATIONS BEGAN
LAST YEAR.
In reality this sale was negotiated about
a year ago, when the E. Jaccard Jewelry
Company stock was offered to Mermod &
Jaccard. Then I made a trip to New York
to interview the creditors Of the former
firm. Finally Merrfek. Walsh & Phelps
bought the bankrupt stock Of the e. JAG
card company and last fall moved into the
location at Sixth and Olive streets.
about a month ago the present deal was
first preached. and there was no difficulty
! about the terms, as the Mermo6 & Jaccard
people agreed to pay cash. some details
in regard to the lease delayed matters. An
agent for the building made a trip to Chi
cago Saturday and arranged the lease de-
tails. The sale was then completed.
According to the lease. Merrick. Walsh
& Phelps have control Of the storeroom
fer nine years. their lease being for four
years, with a ive-year renewal privilege
In all probability the lease will be trans
ferred to the Commonwealth Trust Com
pany and will ultimately be turned over to
| the Mechanics Bank.
MIR. MERMOD IS
PLEASED OVER TRANSACTION.
A. S. Mermod was very much pleased at
the satisfactory termination of the deal. He
said that he had intended to depart for
Europe on a business trip this week. but
had postponed his journey in order to await
the completion of the transaction.
"St. Louis now has the biggest jewelry-
house in the world.' said he. land I am
proud OF the fact that it has been built UP
by constant application to business and
tireless work"
Mr.. Mermod, the head of the institution,
came to st. Louis in 1916. and associated
himself with Eugene Jaccard. He has been
continuously in the jewelry business for ff-
ty-six years. At present he is in the prime
of health and vigor and is about to make
his annual business trip to Europe, where
ne will visit the art and jewel centers.
Goodman King, vice president and general
! manager of the Mermod & Jaccard Jewelry
| Company, has been connected with the firm
since he was a boy 1s years old. He is now
the active head of the store.
FIRE OF 1897
RECALLED.
AS an example Of the resources Of the
firm Mr.. King recalled the fire of December
10, 1887, which destroyed the entire Mermod
& Jaccard block. The fire occurred on Sum
day, and on the following day the firm
opened for business in a building on Broad
way Immediately opposite the old structure.
Since then the new building has been COM
pleted.
The Merrick. Walsh q Phelps compan
was organized in 1873. It absorbed the E.
Jaccard company in 1890. It absorbed the
retired from the Acknowledgement frm In
1864.
The Mermod & Jaccard Jewelry Company
has taken formal charge of the Merrick,
ries are being made by the following en-
ployes of the Mermod & Jaccard company:
c. F. Mathey,. diamonds: p A. Jaccard.
watches; J; J; Menges. 5:sSwslry; "a Borne
clocks and fancy jewelry.