The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1908-02-08
WORKS
!. PUTS UP CAPITAL
TO 100000
CONCERN WHICH HAS HAD TIRE
MENDoUs SUCCESS WILL FIN
ALLY GIVE PUBLIC A CHANCE
TO PURCHASE STOCK.

From $lO,00O TO $2,OO0,OO0' might
be the name of an Accordingly inter-
esting story OF Industrial development
as told in Lansing yesterday, when
the Acme White Lead & Color Works
filed letters of incorporation, adding
three-quarters Of million dollars to
the present capital OF the company,
and, for the first time in its history,
giving the public an opportunity to in
vest In what has become one OF the
best known and most firmly establish
ed institutions of it's kind in the world.
Twenty-four years ago, what is now
the Acme White Lead & Color Works
.was worth-well, in the words OF
Thomas Neal. its secretary and gen
eral manager-"just about nothing"
Today. with the adding OF this three
quarters OF million, it's capital is
just an even two million.
Ever since we started, quarter
OF century ago, we have been what
is known as close corporation" says
Mr.. Neal. 1.-TWO OF us, William l.. Da-
vies, the president, and myself, actual
ly started the business, but we had
hardly made our first barrel OF paint
when II. Kirke White and his brother,
A. e. f. White. joined us, and since
that day we have worked together.
and have kept the stock in our own
hands until 1906, when some OF our
confidential employees were permitted
to acquire an interest. But our bust
ness Is growing as never before, and
we have decided to increase It TO the
extent Of three-quarters OF a million
dollars at once. The new capital will
be In the form of preferred stock. and
in all probability the portion OF this
that will be released will be taken by
Detroiters, for they will be the first
to take advantage of the opportunity
to invest in an institution which they
know literally owns ITSELF"
Business Makes Itself.
This is the most striking fact that
stands out in the history OF the Acme
White Lead & Color Works-that, un.
til the filing Of the papers in Lansing
yesterday. outside investors have
never had the opportunity of becoming
financially interested In the business.
Not dollar OF outside capital has
been sought. From the time the bust
ness was first started 1t has made it
self. dollar by dollar, and it's capital
OF s1,250,000 represents a wealth &C
tually earned.
Now, that the public is about to
become financially interested in the
plant" says Mr.. Neal, I'VE are giving
out certain figures which have hereto
foIe never been published. They show
more graphically than anything else
the tremendous growth OF the plant.
In 1885. for instance, our sales amount
ed to only $26 200; ten years later our
sales Increased to s50S,000; in 1905
they were $2.500,000; In 1907, $3.200,-
900. This year we expect our sales to
reach $3,500,000. This growth is only
little less than phenomenal and shows,
for the last Fl years. an average In
crease of 33 per cent year"
An Astonishing Story.
These figures tell a story that ia
astonishing. Almost without excep-
| ton Detroiters are acquainted with
the Acme White Lead & Color Works.
Az n manufacturing institution II has
won reputation from the Atlantic to
| the Pacific, but comparatively few
know Just how this institution came
| to be. and how 1t developed from the
pigmy OF a quarter OF a century ago
TO the industrial giant OF today. In
those days there were two hustling
young fellows in Detroit. William l..
Davies and Thomas Neal. About all
they had was ambition and unbounded
courage when they started In business
IN rented room out Grand River-ave.
Soon after this III. Kirke White and
his brother became interested in "the
boys" as they called them, and each
addsd $500 to the business. This
SIS .00e, together with what Davies
and Neal had already put into the
enterprise, comprised every cent that
ever went into the institution that
was not earned by the institution H.
self During the last quarter OF q
century that capital OF something less
team $4,000 has earned itself over rs
times. In other words. II has earned
81 10000, plus the cash dividends
thai have been paid Mr.. Neal was
asked if II we're not fact that the
common stock was really not worth
more than par. To this he replied
l:'None OF II Is for sale, and a price
OF two for one would not be considered
/ for any-ur -uff of t. 7-- --
/ Figures Are Staggering.