The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1922-06-09
Brunswick Stockholders Will be
Pleased to Learn of Conn
pany's Good Shape.
INVESTMENTS MADE. SEEM
SURE OF GOOD RESULTS.
Financial Condition of Company
is Good, so Much so That Es-
tabIishment of Plant in For
eign Countries is Expected to
Result from Trip Across"

Following story appearing some
days ago in New York paper detail
ing an account of alleged treachery on
the part of some half dozen home of
flee employees, who were charged
with stealing patents, formulas, rec
ords and other valuable matter from
the Ocean Leather Company, during
the absence of the president and the
members of the executive committee
,Sn a trip to the Bahama islands and
elsewhere few months ago, The
News has investigated the present
status of the company for the benefit
of the Brunswick stockholders and
subscribers.
1t is learned that recently a syndi-
cate financing has been accomplished
with $43000O of first preferred stock
issued and subscribed, which supple
ments the original issue of second pre-
ferred stock, $317,2 of which was
issued and subscribed.
The balance sheet, recently mailed
to number of subscribers and dated
May 31st, 1922, shows, among other
things, current assets of cash on hand
and in banks. accounts receivable.
notes receivable and merchandise in
ventory, etc, a total OF $107 ,S4177;
with fixed assets in lands, buildings,
equipment, etc, $l46,983.62, the pat
ents and experiments and develop
ments representing a large portion OF
the assets. The liabilities are inter-
esting, as there is shown items OF ac-
counts payable, $24,57SS4; notes pay
able, $1,485.S5, and due TO banks for
repurchase of stock in escrow $23,-
209.49. The capital surplus is shown
as S714,121.01.
Taken altogether, the financial
showing of the balance sheet can be
taken as indicating that the Company
is now safely and firmly established.
In the letter accompanying the bal
ance sheet, the president, DR.. Ehren-
reich, whom so manERgunswick cit
izens remember with pSsure, states,
st comes to him who. watts. The syn
dicate is finally completed and the
money paid into the company
4.Dr. Ehrenreich, it is stated, leaves
on the 18th of this month for two
months stay in Europe for the pur-
pose Of disposing of patent rights and
establishing plants in Spain, Portugal
and probably otler countries.
= In speaking of Brunswick, the fol
lowing information from the home Of
flee will be of local interest. Our Mr..
Strauss was appointed assistant to the
president, and takes full charge of op-
erations. His plans are, however,
such that we cannot do anything in
Brunswick until return, as he has
his hands full with Morehead City and
Sanibel Island
Iou Will hAoW, HOHCfOl, Ihot w
have made arrangements with the
Goodyear Packing Company to deliv-
er to US all the shark skins they can
possibly get. Mr.. Strauss may stor
off at Brunswick for day on his way
back from Sanibel'
You may assure our stockholders
and your friends that we shall start 6
ising station during this year, by all
means, and you also may, tell them
that things are moving nicely"
Brunswick citizens are, still, looking
with hope to the coming of this new
industry, and may yet believe that
this wonderful enterprise, which has
attracted national attention, will
weather the. depression, overcome the
hardships it has suffered, and reach
quickly an earning stage second to
few indus rial antarnricac