The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-09-29
W. /. DOUGLAS SHOE GO.
Has Been Re-lncorporated with a Capital
Of 100000 to Perpetuate
Business.
Public to Be Given Opportunity to Pur-
chase Preferred Stock. 3
Brockton Times.

Brockton Times.
| 4 The w. L. Douglas Shoe Co. of Brock
! ton, Mass, has been reincOrpOrated. The
capital stock of the new corporation IS
| 81, 600 900, divided into s1,0OO,000 preferred
and 100000 common stock. A
| OF the S2,000,000 capital, $1,000,000 pre-
ferred stock, bearing 7 per cent annual
dividends Is to be offered for sale to the
public at par. 500 per share. All the
| common stock is retained by w. L. Doug
| las. The per cent preferred stock to be
I offered the public Is preferred both as to
| dividends and. assets, and Mr.. Douglas,
who Is to remain the active head of the
business cannot receive one cent OF d1V1-
dend on his s1,ooo,ooo of common stock
| until the full Z per cent has been paid on
| all the preferred stock. II G-.,. -
| This preferred stock Is to be offered
to the public direct Oct. l by w. L. Doug
las by extensive newspaper advertising
| from Maine to California. AS is well
known the Douglas business is one Of the
very largest as well as most prosperous
| shoe manufacturing concerns In the world.
MIR. Douglas has issued a prospectus to
| the genrael public in book form, and as
| it contains so many facts concerning the
! business and what is proposed to do with
| it, we herewith print extracts from what
| he says over his own signature +
ITO those familiar with the shoe OF
| leather trade it IS we'll known that l
as most successful manufacturers and
| retailers Of mems Goodyear welt (hand-
! sewed) process shoes in the world. The
uAbuilding of the business has been my
| life work, and I have been eninently
| successful, creating a business that is
permanent and beyond injury IN PERIODS
| of business depression. 1920. - <'~ 80 80
| 1.-THE business is established on an en-
tirely different plan from that Of any
| other shoe concern. The system OF manu-
| featuring enables the manager to deter
| mine every day whether the shoes are
| being manufactured at a satisfactory
| profit If anything wrong should occur
in any department of the factory my sys-
| tenn informs him where to find 1t, and
| it is stopped at once. The system also
| guarantees full days work every day
| which keeps the manufacturing expense
at a minimum. q,
| 'The Douglas product is marketed in
| an original way, producing quick returns
| and very small losses The method by
| which the goods are sold has made
| place for the Douglas shoe in all the prin-
cipal towns, and cities in the United
States. s-.
| '',The business has been steadily adver-
| tised for nearly 20 years, and the quality
of the goods kept UP to the highest stand
ard The steady call upon the dealer for
| w. L, Douglas shoes insures large and
! increasing business The ga retail stores
| in As American cities, owned and operated
| by me, take a portion of the factory S
| product. This is all spot cash business.
| also sell to the retail shoe dealers
| throughout the country, having usualiy
but one agent in a town. ''=i. :. s .ts5h
''Thus in selling the product fof the tac-
| tory through my own retail stores, as
well as to retail shoe dealers in towns ana
cities where I have no. store, keep &the
4 factory constantly employed, turning out
Il, a To-: pairs of shoes per day 81! ~ Il
"a "MYEObject III dispoSing OF half inter-
1 est in the, company is primarily that it be
perpetuated and extended. The business
has always been immensely profitable.
Were my only aim to accumulate money,
this stock would not be offered for sale
1.-THE perpetuations and extension Of the
fbusiness by the infusion of@new interests
into it is my chief desire. There has not
been year in the past II when the busi-
4 ness has not earned in actual cash much
/ more than an amount necessary to pay
| per cent annual dividend 81, 000, 900, and
the past four years the business has more
than doubled and is still growings g
IT began the business in Brockton iii a
! small way 26 years ago, and from time to
time have increased it, until at present a
| business amounting to nearly 100000
annually is transacted. 81.
LAS an evidence of the prosperity of
the business, the fact is cited that from
| 1924 pairs Of shoes sold, I'M the year end
ing July 1, 1898, the business has steadily
! increased to 1,798, 900 pairs for the year
ending July 1, 1902, or more than a mil
! lion pair increase -.:~. ,.s-, ..s>.E.,.', .
practically all the stock Of the W. L..
4 Douglas Shoe Co: is owned by me- I
expect to continue at the head Of the
business as long as I live. I believe that
IL. ~ sr
4 to let the people own it land control it..
| T have; therefore capitalized the business
for 81, 600, 0OO,.s 81 900. 600 of which is pre-
ferred stock and 81, 00O 600 common stock.
! The preferred stock is offered the public
at par. The shares are Of the value Of
| 500 each, and will be sold at their face
value only. All stock is sold by me di-
rect. =, The preferred stock; which is Of
! fered the public at par, is non-cun1ula-
i tive and preferred, both as to dividends
and assets. Every dollars worth of stock
i offered the public in this successful bust
ness has more than a dollars worth of
actual, tangible assets behind it. 1t is as
l safe as savings banks or government
bonds, and will return the holder Of the
!. stock double the dividends. Dividends
will he declared Jan. Is and July Is and
;, arc payable in funds current in Boston or
New York .-~.s>,.. - -
1.-THE business has been continuously
successful for nearly quarter OF a CEN
tury. and is more prosperous to-day than
at any period of it's history. am to re-
|. main as president of the new corporate
and retain half interest in the business
My interest in the business is represented
by the common stock. and cannot re-
ceive one cent of dividend on my stock
until the full per cent dividend has been
paid on all the preferred stock ~
ANY investor is privileged to examine
and verify the cOn1Dany's statement at
tl1e office of the company, where every
facility for examination and notification
, will be afforded"