Norwich bulletin., 1910-05-13

the panic. its common shares were
down to so and 40, and they were not
in noticeable demand, but at that time
the Solid foundation of the corpora
ton was manifest because it went
through the panic without a scratch,
and that was the time Treasurer
Jerome won increased laurels as a
financier Lately a new issue of COM
mon stock amounting to $500,e car
rying subscription rights of about Sc
each snare, was taken up by cid share
holders, who would have taken
double the amount had it been offered
The recent sale of the common shares
at 156, an advance of $25 a share,
demonstrates the wisdom of the old
shareholders. The United States Fin
fishing Co. is entirely out of the woods
and occupies as strong a financial pc
sftion as any like enterprise in the
world.
The Constructive Genius.
The constructive genius in the
II. Wright, its president, and he has
carved his way to the front ranks of
able men in America Mr.. Wright was
born in Paterson, N J.. April is, 1853
and was endowed with hereditary in
stinct for mechanical matters. He was
educated in the public schools, and at
the age of u years started work as
boy in Van Dyke & Co. of Paterson.
He stayed there five or six years and
then went to Reed & Barry. proprie-
tors of the Dundee Dye & Print Works
at Passafc, and in 1885 was its treas
urer and general manager. In 1899 he
was the prominent factor in the or
ganization of the United States Fin
ishing Co. and has been its managing
head ever since. Year by year new
plants have been added and under the
capable financial direction of Treas
urer F. s. Jerome the finance of the
growing enterprise has been very sue
ceSSfuHy accomplished. SO much so
that Nh. Jerome has attracted the at
tention of banking institutions and his
advice is sought in the consultations of
d half dozen or more boards of bank
directors throughout the east, and in
addition to his duties treasurer of
the United States Finishing Co. he is
a director in many leading banks and
business corpor a tons
1t is the combination of brains such
as Presidents Wright and Treasurer
made the United States Finishing Co
what it is, and the nnfafling good
judgment of Mr.. Wright in selecting
his department managers at the diff
ferent plants has supplemented the
executive orga ton, so that the
United States Finishing Co. is fully as
strong with the mills and converters
as it is financially
Just what plans for future extension
are i'll the minds of MeSSrS. Wright
and Jerome it is impossible to state
but of one thing we can rest assured
the business of the company is out
growing It's capacity and enIargem entss
are sure to come before long. and it is
perfectly safe to predict that the next
big move will give increased value to
the shares
The Extra Dividend.
The conpany's fiscal year ends on
Dec. 81, and on that date last year
earnings for the past II months were
reported as close to 100000. But
the surprise of the year came late
last week, when an extra was an
nounced OF S4,00o,0e9 in common stock
from the trea Sury. in the proportion of
one share fer each two old shares
held. This new stock will he given out
May Il, 1910. to stockholders of record
on March Fl, and it means an extra
OF about SIS share, as the increase
viii have little permanent effect in re-
due1ng the market value of the stock
AS a matter Of fact there is SO little
oil the common stock on the market
that quotations are nominal even at
$50 and with earnings growing and
How consideraf1iy in excess of 81 600 :
600 annually it is not surprising that
the shareholders consider the stock a
splendid permanent Investment Pre-
ferred dividend No. 49, of 1 "a per
cent. was declared last week. and div
ident No. ). of one per cent. on the
common shares. was also declared both
dividends PAYABLE April / to stock of
Eeesrs March -