The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1912-02-13
Local Company Will Not Be
Sold to New York
Capitalists.
Control Will Be Retained Hero.
and Syrup of Figs Will Be
Bought.
One Million and a Half of New
Stock to Be Offered to
Stockholders
Action by the Company Gives
General Satisfaction
Locally. ;aikI

II was announced late YESTERDAY
afternoon that the proposed deal. By,
which Charles X. Flint & COMPANY.
OF New York, were to purchase thel
Neuralgyline Company. Of this city,
and the Syrup OF Figs Company, had
fallen through.
II will be remembered that the
Charles r.. Flint & Company proposed
10 capitalize a new corporation att
$l1 100000. They were to furnish
$4.000.o0O in cash. OF which s., 2,500, 900
was to 20 to the stockholders Of the
Neuralgyline Company and S1.5OO. 600
was TO be paid for the Syrup Of Figa|
business. In addition to this, $500.
600 OF common stock OF the new cor-|
poration was 10 be given to stock
holders of the Neuralgyline Company.
During the discussion OF the propo-
sition at the general stockholders
meeting held several weeks ago. con-
siderable opposition developed on the
part of stockholders OF the Neuralgy-
line Company. Several stockholders
pointed out the fact that the deal con-
templated paying to Flint & Company
n very liberal not to say extravagant
promoters profit. AT the same meet
ing the stockholders evidenced their
confidence in the management OF the
company by generally volunteering to
subscribe whatever stock might be
necessary TO purchase the Syrup OF
Figs Company, without the interven-
ton OF Charles X. Flint & Company.
In view OF the fact that a large num-
ber OF stockholders did not heartily
approve of the plan. the managers OF
the NeuraIgyline Company. after care
full consideration OF the subject in all
its phases. announced yesterday that
the deal with Flint & Company would
be dropped. Speaking of the matter.
one OF the officers OF the Neuralgyline
Company, said to a representative OF
the Intelligencer:
Defer to Stockholders.
while as individuals We favored
the Charles r. Flint & Company plan
with some notifications, we felt that
we ought not TO go ahead with the
proposition in view OF the feeling
among the stockholders. Our only OBJ
ject in the matter was to further
finance the Neuralgyline company
that the Syrup OF Figs Company could
be acquired without being a heavy
financial burden upon our stock
holders. From assurances from the
stockholders that We have received.
we are convinced that this can be
done. We have an option on our
Syrup OF Figs Company for 1880. 900.
and this deal will be closed. The
stock will be offered to the stock
holders OF the Neuralgyline Company
at par with the privilege OF subscrib-
ing for three-fifths OF their present
holdings. AS the stock will pay Ia
per cent from the start, we have no
doubt that the stock will be taken up
promptly. We have carefully ex-
amined the Syrup OF Figs proposition
and are certain that we can earn con.
siderably moro than IL per cent on
the money required 10 buy the busi-
ness. As soon as proper steps can
be taken. the deal for the Syrup oe
Figs Company will be closed, and our
stockholders will be given the oppor-
tunity 20 subscribe for the new stock~
Stockholders Pleased.
The announcement that the deal
with FLINT a Company had beeu
dropped was received with very gems
eral satisfaction by n great many oe
the stockholders % the Seuralgylins
Company yesterday While the large
majority % the stockholders we're die
posed 20 accept the judgment % the
directors % the company. most ot
them felt that the deal With Flint 4.
Company ~as ~ doubtful merit.
Aside from the Grge promoserr'
proaf Which the deal contemplated.
the dancer % allowing The ooufrol %
fhe orEaniEafiuu 20 pass into forelEn