South Bend news-times. (South Bend, Ind.) 1913-1938, 1918-12-15

CONTINUED FROM PAGE ONED
tons plans for the future are con-
tanned. The statement follows.
The studeba,ser business was
FIRST established at south Bend. In
diana. in 1852 by II. and G. Stude-
baker. who operated as a firm until
1855. and were succeeded by Stude-
baker Bros. Mfg. CO.. which with
Everite Metzgcr- Flanders company
was merged into The Studebaker
Corporation as of Jan. 4. 1911. The
corporations manufacturing plants.
located al South Bend. Detroit. Chi
cago ana Walkerville, Ontario, Can
ada. cover 168 acres. contain 5000
600 square feet OF floor space, are
equipped with about 5000 machines
and employed over 10000 persons.
The business Of the corporation is
the manufacture and sale Of auto
mobiles. horse-drawn vehicles, har-
ness and automobile and vehicle
parts OF all kinds and descriptions.
These products. bearing the name
'-studcbaker.7 are marketed in all
civilized countries. our present
line of automobiles is the finest and
most popular We have ever pro-
duced and this years production is
sold out
THE stability OF the business Of
The corporation rs evidenced by the
fact that its sales have steadily in
creased. and especially since the or
sanitation on Jan. l, 1911, Of the
present corporation The combined
sales Of the anteccdeut firms ami
companies during So years 70 Jan.
1911. amounted to $1f2. 600. 900.
while the sales of the present Stude-
laker corporation in the next seven
years were S31S.0O0. 900. covering
l17.0s5 automobiles. 466, 962 horse
drawn vehicles and large quantities
of harness and automobile and We
hicle parts.
The total tangible assets of The
stude baker Corporation at the date
&c the organization of the corpora
tiOn amounted TO $23,692,723.36. of
which $9.S11,9SO.34 was represented
~ plants and property and S13,SS0,-
1902 by net quick assets. AS o.
oct /. 1918, these net tangible as
sets had increased 90 S4O,749, 26O.75,
II which SG6,f76.1O8.44 was repre-
sented by plants and property and
s24,27S.152.31 by net quick assets,
the increase of S1T.056. 537.39 re-
sulting from surplus net profits left
i'm the business.
capitalization.
Upon the completion Of the
present financing. the outstanding
capitalization of the corporation viii
be as follows;
'''unded debt outstanding: Seven
percent serial gold notes (this pres
. ent issue). S15,OOO,000.
Capital stock Seven percent
& cumulative preferred stock. S10,-
4 $4,000.
"Common stock. s30.OO0.OOO
! Description Of Notes.
The notes VIII he a direct obliga-
ton Of this corporation and an au-
& thorized serial issue of $4,000, 600,
n 10 be dated Jan. /. 1918. and all
8 to be- presently issued and to ma
iure as follows:
$1,000. eco Jan I. 1921; $3.50
GOO Jan I. 1922; $1,50o,000 Jan.
1928: SI.jC0.000 Jan. I. 1924:
4 I.75O.o0o Jan. T. 1925; $2.00O.00O
SJan. J. 1925. s2ou0.0Oo Jan. l..
se7. $4,000. 900 Jan. /. 1925;
. 100000 Jan. I. 1929.
They viii bear interest at the
ate OF seven percent per annum
81 from Jan ] 1919. payable July !
,ad Jan. I OF each year without de
luctiou from either principal or in
s crest OF any tax. assessment or
II 'ther Governmental charge which
he corporation or thc trustee may
o. required or authorized TO pay
a hercou. cor to rct-in or deduct
i htrcrom by virtue of any present
future law or requirement OF the
nited states OF America. 7f any
tnte. county municipal or other
axinc power therein, except sue
session. inheritance and income
axes any one or more OF the Sc
y les of said notes (but NOT less than
N OF the notes OF auy one series)
Il nav bee redecmed 10y the corporation
IN any interest day upon thirty
SOD DAYS notice. By paving the
Il acc amount and interest of the
Il totes SO called for redemption. plus
' premium OF one percent for the
calendar year (Jan. I TO Dec. 81 in
iusiva1 I'm which said notes shall
Is redeemed. and an additional one
percent for each FUN calendar year