University of South Carolina Libraries
New Issue. I ' '? We i ^ NATURE OF THE Tiles, Roofing, Wood ai large scale in rough anc sold in the North, Eas PURPOSE:?Sales ed in March, 1900 with to $1,700,000.00 and 11 are at a rate in excess o able to take advantagt No material fixed invent By consistent effici terial merchant in each Dlrminirhani Kpw OHpf OHUllUQUWUi) ?? .? the jobbing business th developing. This is qui Atlanta, which are unde CAPITALIZATION Cumulative Pi Common Stocl The company has i percent of the preferre< dividend of 300 per cen present stockholders, ih ceedB of the present fli and undivided profits a EARNINGS:-?In t on stock proposed to b< for the ten years from 1 I dividends on biuck bu* much smaller In the ei present one and from si OFFICERS AND ^ Charleston, Atlanta, Bii leans, and Jacksonville FINANCIAL STAT 1919, is fully set forth I ' II The more li PREFERRED AS ' of January, April, July PREFERRED AS ' , will be entitled to $110 CAROLINA P 1 BR Mr. E. H. Pringle, Presi< Charleston Sect uear air: Complying with yo the following informatic Company and its businc HISTORICAL:?T1 organized under the lav a paid in capital of $10 ported and domestic cei description. A year later the i March, 1903, it became $30,000 in common etc raised to $150,000, $5( common stock. The bus and in December, 1910, 000, the common remai stock became due and w common stock, at whicl time. In 1903 we opened obtain there slag cemen which were being devel lanta office waB started continuous. In 1905 it on account of the propo make ud in the building ? of cement had to be lai territory and this being an office and develop t Iln 1912 the develoi of Florida attracted out end began to build up year 1919 returned to u as a factor in the busin< began to realize the res time we have been mon it suiting. It is probabb the same urea has upon undertaken, as is now which is peculiarly dept eonviUe. Our sales have gro beginning of the busines Ann an/1 ffn- ihn s>ur UOV.VVV CW.U 1". > ? a month. It is estimat for the tirst six months 000, and .u'e more than Through a subsidit oifices in Birmingham, equity in our property the sum at which it is c About five years ag ilooring, roofing, shingl* grew into a regular bu; our largest and most ] perience with forest pro a large variety ot' desiri tured in the Gulf and accessible to our office | Birmingham and Char! * tions with these mills tli 1 successful, so that we n | riiory, but to a very la | in the north, west and | department is peculiarl 2 business is for cash, and 5 sicall> handled, more t frnrti ibo unint r.t monn As our selling orj;? we have beer. alert not < more or less permanent, \V. W. SHACKELFOUE RAVENEL-KROEK IN1 JOSEPH NORWOOD, A. M. LAW Ai CO., Spa J F. OLK, Holly Hill, : T. J. COTT1NGHAM. I.; J. A. WEINBERG, Man C AN A L-COM M E R C1A L New Orleans, La. | CHA The Stock of the Ch Caro Charles tor SIN1 Divide Ini CHAR 3ummarire below from a letter of the offl BUSINESS:?Merchandising Buildnging id Metal Shingles, a great variety of For 1 dressed lumber, purchased from many s t and West in original carloads. have increased with scarcely any interruj a paid in capital of $10,000.00. 1908 sah 1 1919 they had grown to $5,600,000.00 if $8,000,000.00 per annum. Increased w i of enlarged opportunities brought aboti ment is being considered at the present ti ency the company has developed until it of the South Atlantic Cities in which it o ins and Jacksonville, not only for strictly erefrom, thus giving it possession of terr ite as true of Birmingham, Jacksonville a t the direct management of those repress :?(upon complotion of the present flnan referred Stock (This Issue) c io funded debt and none may be created 1 stock of this Issue. In order to provide '* *- - J ? * ? ?? J ~ ? J ^t AA AAA /lAmmnn t will DC QCCim CU ttliU f x W| u w wutiuvu ius providing the company with $100,00( l&ncing. At this time the capital consis s of December 31, 1919, of $580,000. * he past five, years making allowance for i issued earned more than four times on 910 to 1919 shownet profits in excess of to be issued, earned on the average of o\ irlier five years, and with an organizath ales to an impoverished public, where no* WAREHOUSES:?General offices and a n mingham, New Orleans and Jacksonville, owned through subsidiary. EMENT:?A statement showing the Com within. PREFERRED STOCK PROVISH mportant provisions regarding the Prefer: ro 8 per cent CUMULATIVE DIVIDEND! and October. Interest on deferred divi ro ASSETS:?In the event of dissolution ,000 per share and accumulated dividend ORTLAND CEMENT COMPANY, OAD STREET. CHARLESTON, S. C. lent. Charleston, S. C., July 14, 1920. PniYinonv nil./ J I Charleston, S. C. ur request we take pleasure In giving yot n regarding the Carolina Portland Cement !8s: le Carolina Portland Cement Company was rs of South Carolina in March, 1900, will 1,000.00 for the purpose of dealing in im nent, lime and building materials of even capital was increased to $15,000 and it $50,000, $20,000 in preferred stock and >ck, which in December, 1903, was agaic 1,000 in preferred stock, and $100,ooo it liness of the company continued to develop the preferred stock was increased to $75,ning at $100,000. In 1913 the preferred as paid off, leacing the capital $100,00, all i figure it has remained until the preseni an office in Birmingham, Ala., in order tc - i ??a * *Ua JnnH ctool mill? I, ci oy-pruuuui ui me 11 vu ??u oiwi oped in that city, and a year later our Atin order to make our territory more nearlj seemed desirable to locate in New Orleans rtion which imported cement continued tc material business. We found that cargoes oded at New Orleans for the Birmingham so, it was desirable that we should havt he local business in that cit/. iment of the city of Jacksonville and States attention, and we opened an office thert a trade, which, until the middle of the s only the indirect profit of establishing us ess. In July, 19151, the Jacksonville office ults we felt were possible, and since thai e than gratified with the profits therefrom e that there is no State in the Union where it as lurge a residence construction being the case on the eastern coast of Florida >ndent for its supplies on the city of Jackwn almost without interruption since the 3S, and for the year 1919 amounted to $5, rent year to date have averaged $700,001 ed that net profits, before Federal taxes of this year, will not be less than $100,likely to exceed $125,000. uy the company owns its warehouses and New Orleans and Jacksonville, and out is believed to be very largely in excess oi arried on our books. n thp enmranv hoi?an to hnnfllo hard-wfinr es, cotion mill timbers, and this graduall) siness in lumber, and is at present one ol profitable departments. In our early ex iducts it was brought to our attention thai Able material of this nature was lnanuiac South Atlantic States, by mills peculiarly s in New Orleans, Jacksonville, Atlanta leston, and our efforts to establish rela trough our various offices have been high I) tiarket lumber not only in our regular ter rge extent in Baltimore and other points I middle west. The development of thn ly satisfactory, because so much of this so little of the total volume has to he phy ban 05 per cent moving direct in cat lot! facture to our customers, mization has been gradually strengthened >niy to take on new lines, but to undertak* contracts, somewhat in th nature oi selling \YK I;KC ? * SON, JAMES A! VESTMENT CO. THK I.IBt T. T. HYD llanburg, S. C. iKIEST A: S. C. CAKOLIN. (iko City, S. C. W. J. CUO ininp. S. C. AI.CESTK rRUST k SAY. HANK, C W. IU'I k. o. nut RLESTON SEC arleston Security Company is kohl by Tr The statements n*?ule her *3'?SEX3EL"T_:. ? T^muz-- r FREE OF NORMA: $500,0 iina Portland i, S. C., Atlanta, Ga., Birmingham, KING FUND CUMULATIVE 8 I nds Payable Quarterly ? Januar tial Dividend from September Is LESTON SECURITY COMPAIS cers of the Company: Materials, Lime, Portland Cement, est Products, including dealings on a moll manufacturers in the South and ition since the business was establishes amounted to $1,300,000; in 1915, . For the current year to date they orking capital therefore seems desirit by rapid enrichment of the territory, me. is easily the dominating building maperates, via: Charleston, Atlanta, local business in these cities, but for itory extraordinarily large and rapidly nd New Orleans as of Charleston and enting the principal ownership, cing): $1,000,000 $500,000 1,000,000 500,000 without the consent in writing of 75 the $500,000 common stock, a stock stock will be sold for cash at par to ) new money, in addition to the prots solely of $100,000 common stock Jo preferred stock at present, present financing, preferred dividends the average each year. The figures $8800,000. In the past ten years rer three times on a volume of business in less highly developed than the r we have a public more than well off. umber of warehouses a^ located at rropeny in Dirmingnam, new uiipany's condition as of December 31, )tfS. red Stock are specified below: 5:?Payable quarterly the first days idends at dividend rate until paid, of the Company the preferred stock s before any distribution may be made agencies with manufacturers, for output, or for some fairly substant lo them selling expense, assuring product, and allowing us to sell o facturers in the same line of busi In the last five years, 1915 have been as follows: Year Sales. Net I 191 5 $1,706,535.38 $ 39, 191 6 3,351,413.70 155, 191 7 3,825,539.58 135, 191 8 4,132,775.52 123, 191 9 5,662,959.31 219, $18,679,223.49 1672,81 Attention is invited to the fac approximate amount of interest th . financing had been in effect, prefe preferred stock proposed to be issu tnan 4 times on the average each i The figures for the ten year profits of $824,022.94, without ma ing had present financing been 1] the dividend would have been ea ten years more than three times, which we operate, South Carolin Louisiana and Mississippi, has be higher prices for agricultural am customers are hardly to be recog of ihe public with which we dealt Net profits for the current yei tory in our history, as are sales, a to rapid development and improve ness in the next few years by rt previously referred to. > unuunuv rti,1 ti The Company's gross sales h lor the past ten years from $1,630 3 010, and for the current year are per annum. It seems advisable t ing capital of the company so that pared to cope with its enlarged opi investment is being considered at CAIMTALI (Upon completion of I Cumulative Preferred Stock, this Common Stock The Company has no further without the consent in writing of 7 of this issue. In order to provide I stock dividend of 3UU per cent will inon stock will be sold lor cash at | pioviding the company with $100 the proceeds of the present financl consist solely of $100,000 conimoi as oi December 31, 1919, of $580, 1 STATIIMK.M <>'' ASSETS AN ' POUTLAND ( EMI December r As then prepared by the Cert , piOCVl'US UI nils IlUillli. UlH ? >?"' crued: ASSE Current and Working Assets i Cash on hand and in bank s Siock in Trade s Inventory live stork, vehicles, took and fixtures, etc. s Liberty Bonds Notes Receivable Accounts Receivable * Stock owned in other corporations PRICE?PAR AND A (IMMKM) THIS I'Rl l KKRKI) STOCK ASA DOER, :kty co., E & SONS, ISKAEL. Charleston. S. C. \ SECT KIT Y CO., Columbia. S C. WSOX. Sumter. S. C. K C. FlTK.MAN CO.. GreenviiN-. >= ' )LEY. Beiinetisville. S. C. '.GINS. Lamar. S. C. URITY C ustees for the benefit of Stockholders of the as the Directors of the Bank of ein are not una ran teed but are obtained L INCOME TAX >00.00 Cement Comi Ala., New Orleans, La., Jackson >ER CENT PREFERRED STOC y 1st, April 1st, July 1st, October t, 1920, payable October 1st, 1920 [Y, CHARLESTON, S. C., REGIS' on the common stock. NO MORTGAGE:?No mortgage c placed on its property during the life c preferred stock. FUTURE ISSUE RESTRICTED: ? increased without the consent of the h The remaining $500,000 authorized bi (1) When the Company's net quic hut irmliiHinp the nrnceeda of the pref preferred stock outstanding, including (2) When the total net assets has least two and one-fourth times the par issued. CALLABLE AT $110.00 PER SH pptlon may call the preferred stock as On July 1st of each year it must fered stock to exhaust the money in t Beginning July 1, 1922, at least 6 capitalization provided under the pres be paid annually to the Charleston S at $110.00 per share or less that may b exhaust the Sinking Fund at this price, and sufficient shares drawn by lot to dend, thus providing for the retirement The Sinking Fund is also to be inc dends, if any, paid in excess of $50,001 to be presently outstanding; subject to ing are increased share for share, there this rate a cash dividend not exceeding amount in dollars equal to the amoun ezceeas ?ov,uvv.w. iu mio vn,ui i issued preferred stock. SPECIAL I From the undivided profits as of E $200,000.00 which shall be kept intact be constantly maintained while any of t special reserve fund has to be reduced ing Fund requirements, dividends on t cent per annum, so long as this special to reduce this special reserve fund belc stock until it is again established at $1 be paid oh the common stock until tt whereupon there is no further restrict! either all or nearly all of their ial fraction thereof, thus saving Fu them of a daily market for n even terms with other manuness. to 1919 inclusive, our results >rofits. Dividends. Accumulation 160.48 $ 8,000.00 $ 31,160.48 409,98 15,000.00 140,409.98 1>r 605.22 25,000.00 110,605.22 018.52 25,000.00 98,018.52 618.90 20,000.00 199,618.90 13 iNl 3.10 $93,000.00 $579,813.10 t that, making allowance for the at would have been saved if this rred dividends on the $500,000 ed would have been earned more year. s from 1910 ,to 1919 show net .king allowance for interest savn effect, and allowing for this, irned annually during the past Since then, the territory in * a, Georgia, Florida, Alabama, en tenormously enriched by the Y 1 mineral products so that our nized as the present successors I ten years ago. ar to date are the most satisfac,nd we confidently look forward ment in the results of our busiason of the natural conditions iii IE FINANCING u' iave increased heavily annually ,921.58 in 1910 to $5,662,500 in at a rate in excess of $8,000,000 herefore, to increase the workit may be more adequately prejortunities. No substantial lixed w< the present tiuie. ot ZATION l"? g i ihe present financing.) I(I Authorized. Outstanding. ISSUO *i,IHMI,VUU *0U V'.'/VV 1,000,000 500,000 debt and none may be created 5 per cent ot the preterred stock the $500,000 common stock, a I be declared and $100,000 com- Si l>ar to present stockholders, thus ,000 new money, in addition to p,. ing. At this writing the capital ?} l stock and undivided prottts, ,000. u', l> l-l.ilill 1TIES < AKOiJ.NA BNT COMPANY II, 1919, ified Public Accountant showing it deducting Federal Taxes acTS. $619,517.07 *,K COO C.AZ. tt .? ? mm ? DOOflllJ.1 I 5, furniture, 4 4,2 7 H-1? 7 2X.238.00 3 6,573.99 !?26,560.89 6,87 5.00 $2,345,584.09 iCCIUJED DIVIDENDS co.nsj:k\ativi: invksmknt ok its 3ECTKITKS SALES COMPANY, Al hi 111.1, Uil., It I I'llI I II Il<l III. .Mil.. .1.11 UMIUI II I \V FAIRKY, Kingstree, S. C. UKOROF i:. !.i:i:. LYDIA. S. C. SCOVILLE WANNAMAKER ? CO.. Orange J. \Y. WILLIAMS, Johnsonville, S. C. '* .'KIT Mi'liOWKl.L. ('liarlt'Sioii, S C. I \\K (>F DAKLI.V1TON. Darlington, S. ( J. K. \VI I.!.I A.MS. Mnllins. S. C. 1. M. MARSHALL a- Charleston. S. \'Y, 16 Broad Strt Hank ol' Charleston. N. IJ. A. Tin l?irector: Charleston, N. If. A. from sources which we lielieve to lie accu jany ville, Fla. K 1st, TER ir other lien for payment of whi if the preferred stock without th The amount of authorized issue older of at least 75 per cent of t it not now to be issued may be k assets, all depreciation and a< erred stock to be Issued, are at 1 that proposed to be issued, ed on depreciated appraisals of value of the preferred Btock oui ARE:?On any dividend date 31 a whole at $110.00 per share ai call for payments at $110.00 p< he Sinking Fund as hereinafter SINKING FUND per cent of the largest amount o ent plan, regardless of the amo ecurity Company for the purposi e obtainable by tender. If sufll , then either the certificates of t exhaust the Sinking Fund at $11 of the entire issue in about seve reased by an amount in dollars t }.00 a year or 10 per cent on tfc If iho nnmmnr quttiiuvauuu iuai VMV W.... w, may be paid as dividend on the $10.00 a share, before lncreasl it by which the total of each d sinking fnnd will have been incr RESERVE FOR SINKING FUNI lecember 31, 1919, there Is to ' for the payment of preferred d he preferredstock of this issue below $200,000.00.in order to m he common stock may not be pi reserve fund is less than $200,C tw $100,000.00, dividends must 00,000 when dividends at the ra le special reserve fund is fully on on common dividends, except deferred Assets: ind for retiring bonds Carolina In Kealty Corporation I IA RIM' Capital Stock: mmon eferred (new) Current Liabilities: xes accrued aes payable ) ? counts payable jpreciation reserve (Warehouse! rplus (without allowing for F< income Taxes and Excess Taxes) Sales for 1919, j The Company has its general lere it operates a large warehou .use and capable sales and purch lie, Fia., Atlanta, Ga., Birminglu mis way it covers closely the S' utes. Tnrougb a subsidiary the Jacksonville, Birmingham a;id i the near future will similarly e jiy in Charleston. VV e have been careful in loci uch are served by one or more .parlance of handling the goods i ic-al basis. We are informed th New Orleans, Birmingham and .cess ot the price paid for it, and ii licuiariy, nas present seumt ?u .MAINTENANCE NE1 So cash dividends may be pa Luiu i educe tne company s uei g the total pur value of preferred iiiy s total net assets beiow 226 pieierred stock outstanding, b aiseu \aluation of the plants au< ANNUAL An annual audit is to be mad tor to be approved by the Cha VOTING 1 Except as herein provided abo i voting power untl eight quart ;ail be in default, in which eve sled exclusively in the common elerrtd stock, become and remai; oek und the preierred stock, ea ect and maintain one-half of thi nil such default and all defaul ade good, when such voting pi usiveli in the common stock. .MANAGE The present officers of the c< J. ROSS HANAHAN, Preside PEY RE G. HANAHAN. First JOSEPH S. HANAHAN, Seen The Hoard ot Directors is soph s. Hanahan. Louis Dunneii . .M often. to which board will be i larleston Security Company. Veiy respect CAROLINA PORTL/1 By J. KG PEY HE J. S. H.) KIM' ?: H Dl'KYEA. .-v.- liOFIL, U-, F a. 1) < . H K Y vV A !il> A .-.v .* I,ITTKNHKKG burp.SvC W P.ANKS DOVE. F. A. Ml NN. Tatui iiANK ui AV.N<>li, j. .1 i. I:K<;.\I\. i/i. < V ( 111'! !'. Lamar C. w Pan <zet, ChariesU .(.f the Charleston S<curity C irate arid reliable. t i. J* aU Pnmnanv ta liahlA tO hf Cli llic V/Uiuyau; AO tiww.v, e consent of 75 per cent of the of preferred stock may not be he preferred stock outstanding, issued only: icrued Federal Taxes deducted least twice the par \falue of the all plants and properties are at. [standing that proposed to be ) days after the company at Its ad cumulative dividends, er share, sufficient of the preprovided. i f preferred stock issued of total 4 unt actually outstanding, must i of such of the preferred stock cient stock is not obtainable to he shares are to be numbered 0.00 per share and accrued divinteen years. jqual to the common stock diviie $50,000.00 of common stock t and preferred stock outstand common stock outstanding m ag the Sinking Fund by an ividends on the common stock eased to 6 per cent of the total >. be set up a special reserve of ividends and Sinking Fund, to remains outstanding. If this eet preferred dividends, or Sinklid at a higher rate than 4 per 100.00. Should it be necessary be suspended on the common te of 4 per cent per annum may re-established at $200,000.00, ; as previously set forth herein. terstate 10,000.00 $2,355,584.39 A TIES. -.$500,000.00 50-0,000.00 2 $1,000,000.00 $ 979.60 632,154.27 \ 467,136.38 1,100,270.25 ^ }) ~ 17,408.00 :deral Profit 917 Q1 1 14 $2,355,584.39 15,662,959.31. offices in Charleston, S. C., se. It has an office and wareasing organizations in Jacksonim, Ala., and New Orleans, La. outh Atlantic and Eastern Gulf ; company owns its warehouses, s'ew Orleans and probably withquip itself in Atlanta, and positing our warehouses, all of spur tracks, as we realize the Dn the most efficient and econoat the value of our real estate lankcrtnvillo i? rnnsiderablv in 2 that our Birmingham property lue many times its original cost. T QUICK ASSETS. id on the common stock which ,uick assets below 2l>0 per cent stock outstanding, or the cornper cent ol the total par value ased on ihe depreciated api properties. AUDIT , ,e by an independent public aurleston Secur'ty Company. OWEK. >ve the preferred stock will have erly dividends payable thereon X n the voting power heretofore i stock may at the option of the n vested equally in the common ch as a class being entitled to > directors, and shall so remain } ts subsequent thereto shall be ; >wer shall again be vested exME.NT. ; unpany are as follows; f nt. Vice President and Gen. Mgr. > 'tary and Treasurer, composed of J. Boss Hanahan, nan, Peyre G. Hanalian, George elected K. H. Pringle, Jr., ot tie i nil v. : L.\I> CEMENT COMPANY. SS HAN A HAN. President. G. HAN A HAN, Vict- President. l.N'AHAN. Secretary and Tna*. f 1 ii. S. <\ ft Ayuor. S. <\ K p!i 'O. S C. 3/2, S. C. ' uu.par.y are the aaroe W ' d