New-York tribune., 1907-08-15
POPE co. In TROUBLE
Continued from first pnEe-

its business with safety to the public advantage
TO its stockholders; and. as your orator peleseS
and AYERS said company has suspended its ordinary
business for want of funds to carry on the same
The nature of the business of the said company 10
such that during the autumn and winter montns oI
each year and during the succeeding months OF Ili
year 1857 and the months OF January. February ana
March, 1905 large sums Of money must De expehueu
in the manufacture it's product for which no re-
turn can be expected until the late spring or carry
summer months Of each year. and no substantial
return from said business Will be received uh'i, ~
about the month OF April 1893; the volume ana
profitableness of the business in the coming year
depend almost entirely upon the ability OF the saIa
company to make sale of it's product during tne
autumn and winter. but, owing TO the inaolIity Oh
the said company obtain the necessary funos Ior
carrying on said business, II is impracucaole ~.
the said company to complete the manufacture OF
its manufactured product TO make the contracts OI
sale therefor necessary to maintain SAID business
with profit. and owing to the uncertain conol'loi
of the business as aforesaid the value OF the SAID
company's assets is constantly depreciatins ana
there is danger that the said company may lose US
business in great part entirely, IN whicn event
the value of assets will practically De destroyed
The Pope Manufacturing Company operates
plants at Hartford. Conn. where the Pope-Hart-
ford automobiles. selling at S2.Ip. are rnaoe' az
Hagerstown. Md. where the Pope-Trioune cars
which sell at S1.75O. are turned out. and at
westfeld. Mass. and Chicago The Pope Motor
Car Company a subsidiary of the Pope Manu-
featuring Company. operates factories at Toledo
where It makes the Pope-Toledo cars selling at
wayerly electric machines manufactured
A G. southworth New York and Brooklyn
agent for all the Pope cars. said last night that
the assignment IN way affected his business.
and that he had full assurances from Hartford
that the Pope Manufacturing Company and the
Pope Motor Car Company would continue to
manufacture automobiles.
The officers and directors of the Pope Manu-
featuring Company are: Albert A Pope. presi-
L. r.
Walker second vice-president; George Pope,
treasurer and Wilbur c. Walker, secretary
Directors: William A. Read. Colgate Hoyt. F. s
Smithers and George F. Crane. New York; Al
bert A. Pope, Albert l.. Pope and George Pope.
Hartford. Conn: Charles Hayden and Arthur
w Pope, Boston. and Paul Walton. Ridsewood
y. ].
About eighteen months ago the securities OF
the Pope Manufacturing Company touched their
high level on the curb with quotations OF "a
for the common so for the first preferred and
25 for the second preferred. The present bid on
the common is u to q, first preferred. ~ TO 10;
second preferred. To S. There have been no
recent sales OF the first and second preierreu
issues The common sold at u a few days ago
The common stock of the old American Bicy-
Gle Company in April. 1903. following the recelV-
ership. was quoted at bid Is asked. and the
preferred at 0 bid and 1 asked At the time
Of the reorganization OF the bicycle company
into the Pope Manufacturing Company di-
rector Of the latter corporation was quoted a,
saying:
"A syndicate of bankers. represented by the
present directors. subscribed s2.40O0OO and re-
ceived therefor s2.4OO.OOO Of first preferred
stock The old bondholders received second
preferred stock. and the common and preferred
stockholders a small amount of common stock
Naturally the people who put up the new
money required voting trustees for the present
time. but far the ownership OF the stock
is concerned Colonel Pope is not only a large
owner of the first preferred stock, but by far
the largest owner of the second preferred stock
and the owner of nearly all of the common