The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1928-03-13
Bis DAIRY ISSUE
IS OFFERED
By RICHARD HATTON

ferinRs is being made today by
Crane, Paris and Company, who
are offering sl,OO0,O0O OF pei
cent cumulative preferred stock Of
Chestnut Farms Dairy. Inc. The
par value OF the stock Is 500 and
it Is exempt from present District
OF Columbia intangible personal
property tar and normal Federal
income tax. The transfer agent
! is the American. Security and Trust
Company. The Riggs National
Bank is registrar.
There are few people in Washing
ton to whom the name Chestnut
Farms Dairy is not familiar, but
the following statement by Presi.
dent Henry NsssBrawner Is OF In
terest in connection with the pres.
ent offering.
Chestnut Farms Dairy, states
Mr. Brawner, was incorporated un.
der the laws 81 the State of Della.
ware January 1924, succeeding
to the business established more
than 80 years ago by the late
George M. Oyster. jr. The com.
panv Is engaged In q general dairy
business, its principal products be.
ane milk. cream, butter, eggs and
cheese. Our business is the largest
OF It's kind in the District Of Co
1unbaa distributing approximately
SO, 900 quarts OF milk and cream
daily to nearly $4,000 customers.
and our plant Is regarded by ex-
perts as model establishment.
wherein the most up-to-date meth
DDS have been adopted Tor the SCI
entific efficient and sanitary hand
ling of milk and cream. Expert.
enced chemists and corps or ex.
perts are employed at all times to
maintain our products and service
at the highest standard.
Principal Plant
''The location OF our principal
plant is at Twenty-sixth and M
Streets and Pennsylvania Ave. n.
Nv. Washington, D c., covering
sove b3. 900 square feet OF land.
ssIpoyf which was completed in Oc-
tober, 1925. q new fireproof brick
and concrete building, equipped
with the most modern machinery
FOR the conduct Of our business.
This total floor space of the build
inr Is Approximately 900 square
feet. The buildings include . gar
age of sufficient size to care Tor
d f1eef OF 100 trucks; an aut0no.
bile repair shop: factory Where
bodies for our trucks and wagons
are manufactured: q stable for 100
horses: b modern laundry; refrig-
Grating plant; rest rooms and lunch
rooms. In addition. the company
owns and operates receiving sta
stions at Frederick. New Midway
and Yalkersville, Nd. A cOnserya-
to
exceeds 81, 900 .O00. real estate and
plant alone being estimated at
81 500 900. we have 429 employees.
ssThe supplying Of dairy products
is an important and indispensable
business In every community. It
is conducted largely on a cash
basis and is characterized by the
quick turnover Of small inventor
les. For this reason it Is an I'm.
usually stable business.
THE Importance Of having It's
products OF the highest quality,
from the standpoint OF sanitation
and nutrition. was early recognized
by the Chestnut Farms Dairy. II
was the first dairy in the District
Of Columbia to pay premiums to
farmers for improving the sani.
sfafy conditions OF their barns and
Z
by the Health Department of the
District of Columbia: for having
their herds tuberculin tested. and
for producing milk with a high per.
centage of butter fat.
THE Health Department Of the
District of Columbia rates our
plant 100 per cent.
MANY thousands of dollars have
been spent in advertising, so that
the name, Chestnut Farms Dairy,
is q synonym for high-class dairy
products IN the District of Column
bia and contiguous Maryland and
Virginia territory
FIN conjunction with the milk
and cream business. the compaLy
has developed a large and profit
eggs and cheese and In January,
1928. acquired the business of
James F. Oyster. Inc. Washing
tons oldest and one Of its largest
dealers in these products"
Certified Profits
The net profit of the company,
as certified to by r. G. Rankin &
Co., for the year ended December
81, 1927, after interest, sinking
fund on bond issue. depreciation,
{
homecoming charges, is $211 ,92l.02,
which is equivalent to more than
three times the annual dividend
requirements on this issue of pre-
ferred stock.
it is Stated that the stock will
be listed on the Washington Stock
Exchange.
The officers of the Chestnut
Farms Dairy, Inc, are: Henry n.
Brawner. jr.. president; Edgar n.
Brawner. vice president. Herman A.
Schulteis, treasurer; jeremiah n.
McCarty, secretary: and the follow
ing are directors: Henry n. Draw.
ner. jr.. Edgar n. Brawner, Jere.
Tniah N. McCarty. Herman A.
Schuiteis, Eugene f. Thompson
and Roger j. Whiteford.
The Morris Plan Bank of Wash.
ington recently celebrated it's third
anniversary as a Washington finan.
cial Institution and on the same
day the bank went over the million
dollar mark in savings deposits.
The bank began business here in
quarters at the corner of Thir.
teenth and / SITS. n. W.. but in.
creasing business soon required
more space and the bank was
moved to handsomely fitted offices
at 1903 II st. N. w. Much of the
success of the institution is attrib-
uted to the able guidance of Presi.
dent Bertram Chesterman and his
hoard of directors and the popu-
Ia,.itv Of the Morris Plan system.
other out-of-door sport at Belle.
y TzRf- TO..AwRGANaf