New Britain herald., 1916-05-12
NEW DEPARTURE C0.
 ,JOINS BIG COMBINE
Bristol Concern Goes Into SGO,- OOO,OOO United Motors Merger

ested today in the announcement that the New Departure company at Bris- tOf has merged into $6O, 1000, 0OO company to be known as the United Motors corporation. The new corDor- ation will manufacture autOm Obile ac- cessories and the Bristol division will manufacture bearings extensively, as well as other auto parts. w. C. Dur ant, president of the Chevrolet Motor company, engineered the big deal
 Concerns that have entered the new merger are the Perlman Rim cOrpor- ation of Jackson, Mich, the Hyatt company of Harrison, N. J., the Reamy company of Indianapolis, the Delco company of Toledo, Ohio, and the New Departure company of Bris- tOl. It is expected that there will be an offering of a substantial amount of stock shortly.
 Stock Rises 10t15 Points.
 The rapid rise of the New Departure stock has been a feature of the Hart ford Stock exchange for the past month and since April 15 it has jumped 1O11A points, from 1SG to 2S7 F at the close of yesterdays bus mess. Gradual increases were noted almost daily until yesterday NhHn me stock took a tremendous boom ana leaped ahead 691a points. There has been frenzied buying and selling or this stock for the past week and large number of shares are said to have been bought and sold by New Britain spectators at substantial profits.
 The capital stock of the New De-
 
 mon and $5OO,OO0 preferred. There is $2,499,475 outstanding on and $5OO.OOO preferred at $1OO par. A common stock divided of i per cent. was paid in September of 1912 and the next month the stockholders authorized an increase in common stock from s1,OOO,O0O to $1,500,G0G, new stock being distributed US a 50 per cent stock dividend. The com mon stock was increased from S1,50O.- 900 to $2,OOO,OOO in January, 1914, and $5OO,OOO in new stock was offered to tho shareholders at par The fHl- lowing year, the common stock was increased to $2.5OO, 900. Dividends at the rate of per cent. a year on com- mon and ' per cent on preferred are paid quarterly
 
 company. Frank P. Furlong vice president, Charles T. TreadWay sec rotary and treasurer and Arthur C. Hitchcock assistant secretary The directors are Dewitt Page, E. R. Bur- well, A. c. Hitchcock. c. T. Tread- way, r. P. Furlong, Charles r. Pope.
 Companies Not Competitive.
 The New Departure company was organized twenty-eight years ago fy A. F. Rockwell, now president of the Bristol Brass company. At present 1.700 hands are employed. None of the concerns in the new merge are 
 The New Departure company makes ball bearings; the Hyatt Com pany, roller bearings; the Delco Com pany, starters; the Reamy Company, the Perlman Kim Com pany, demOunta ble rims The Perl man Company was recently formed when l.. H. Perlman, who won the suits brought to protect the patent, failed to reach an agreement with the which had been manufac- turing the rims. MT. Duran, who is N lcavy stock holder in the General Motors Company, took part in the formation of the Perlman Rim Com pany.
 The Perlman Rim is the new s1O.- 900, ,000 corporation just launched 10 capitalize the Perlman dcmOuntablc rim patents which have been tWi@c sustained by the courts. Its plant is located at Jackson, Mich. By mid summer it expects to be the biggest rim manufacturer in the world. Tt has 100000 shares of no par value.
 Tho Dayton Electric Company f'Delco" lighting and ignition systems, the biggest unit in the self,starter field.
 The Hyatt Company of Harrison, N. J., manufactures bearings.
 The Roamy Company of Tndianap- Olis manufactures self-startors
 Bristol Brass Up Two Points.
 New Departure did not fuctuate much today, but sold steadily at around 2SO. The closing figures were Bristol Brass however, W3U5 | stronger today and sold two points i lbOVC yesterdays figures The closing | quotations on this Bristol stock were 65 1-2-67, not including the American Silver stock distribution. American l silver was 24-25.
 ScOvili Up Ten Points.
 Scovill Manufacturing company was ! also stronger today and sold up ten points at 555-560. Other local stocks | were quoted as follows:
 Standard Screw, 28S-292; American Brass, 2G7,27O; Colts 775-7S5; Niles, l I3cment Pond, 162-165; Stanley Works, S1-82; Iandcrs. Frary &, Clark, 63-64; Union Manufacturing S1-S3 New Britain Ma chine, 79-S1; North & Judd, 104-1OG: and Peck, Stow & Wilcox, 31-32.