New Britain herald., 1916-01-25
TRUMBULL co. WILL
 INCREASE CAPITAL
Directors Plan for $100,000 Is
 sue Of Preferred Stock
CAPITAL WILL BE $6OO,OOO'


 Annual Meeting pn February 7th-
 Other Items.s !.
 Plans for increasing the capital of the Trumbull Electric Manufacturing company from $5OO,O00 to $600,000 have been formulated by the board of directors and at the annual meeting of the corporation to be held on Feb ruary 7th, it is the intention to cre- ate new issue of $100000 in pre- fcrred stock That this idea has de- Veloped sufficiently to insure it's con- summation was admitted this morn- ing by J. II. Trumbull, president of the company, who discussed with Herald man the report that the con- cern will soon call in the $2OO,000 is sue of preferred stock made five years ago.
 The increasing of the capital will have no immediate effect on the con- duct of the companys business. While the directors have made some plans. MT. Trumbull stated they are still in embryonic state and not ready to give to the public. Adding to the capital they believe to be a good busi- ness action at this time and will not result in any immediate extension of the works.
 Five years ago the company issued $2OO,OOO worth of preferred stock, to pay annual dividends of ' per cent, the shares being subject to call on February 1st of 1916. The certif- cates were eagerly bought by invest ors and in ten days the entire issue was disposed Of The shares had a of $27.50. Few of them have changed hands since the issue was created, al- though there has been big demand for them.
 The directors now propose to call in issue of $3OO,OOO on a five year basis. Holders of shares in the old issue will be given the privilege of subscrib ing to the new stock on a pro rata basis and 1t Is likely that they will take advantage of the opportunity. It will be a seven per cent. stock and will no doubt be quickly taken up.
 The preferred stock will have a minority representation on the board of directors as Is the case at the present time and at the annual meet ing it Is expected that A. J. SlOper and Judge J. F. Coo<rr of New Britain will again be chosen to serve in that capacit
 The company is practically closed corporation, as far as the common stock is concerned, these certificates being held by the Trumbulls and their old associates. They have never been on the market. The common stock is represented on the board of di- rectors by J. H. and Henry Trumbull, F. T. Wheeler, s. S. Gwillim and c. w. Jones, the two last named haV- ing been taken in few years ago.
 The concern at the present time, although handicapped by the freight embargo, is doing a big business. During the past six months 1t has been flooded with orders for it's regu- lar lines and all departments in it's plant are extremely busy.
 While some tempting offers for the manufacture of war supplies have been held out to the officers, Presi- dent Trumbull said today that he could see nothing but a temporary gain In accepting them and the d. rectors have decided to stick to the products which the company has been developing since it was started fifteen years ago, electric switchboards and similar devices.
 The company has at present about three hundred people on it's payroll. It's growth, since 1t started a decade and a half ago, when the Trum bull brothers and F. T. Wheeler went into the manufacturing business in a small wooden building, has been phenominal and the plant today is regarded as one of the most modern in the state It is still managed by its founders, who by their energy, perseverance, and business sagacity have developed the factory into one of the leading manufacturing establishments in this section, and have themselves become PIainville's wealthiest and most in fuential citizens.
 That they have plans for the fur ther development of the business will be pleasing news to Plainville people who have watched their successful movements with considerable pride for a number of years.
 Foresters Make Merry.
 Plainville Foresters and members of the order in neighboring towns gath cred at Grange hall last night to cele- brate the sixteenth anniversary of the institution of Court General Lawton. It was a big night for the members ana It VIII De recorded Tn the annals of the organization as one of the most successful affairs for which it has been responsible
 Delegations from all the courts in New Britain and Bristol and repre- sentatiVeS of the state organization were present to assist in making the celebration a fitting one and to en- joy the hospitality of their Plainville brothers.
 For weeks committees had been working on the arrangementS and