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Combined Sales of Three in 1929, $57,000,000; Merger Strengthens C. M. LAWSON HEAD West Virginia and California Houses Purchased by St. Louis Company, Effective June 1 Special to the Tremocr at St. Louis, May 26,—Transfer of the assets of the Watts-Ritter Co. of Huntington, West Virginia, and the Walton N. Moore — of San Francisco to the Ely and Walker Dry Goods company of this city June 1 is annoy . Co. M. Lawson of Fayetteville is presi dent of the purchasing company. Preferred stock of the two pur chased companies is believed re tired and payment for all other as sets will be made in common stock of the Ely and Walker concern. Not to Alter Capital This will not alter the capital structure of Ely and Walker Dry Goods Co., which is $1,500,000 7 percent preferred stock; $1,500,000 6 percent second preferred stock (both non-callable), and 360,000 shares of $25 per value common stock. The book value of the com mon stock is $42.83 per share, and the earnings on the basis of 1929 audits, giving effect to these ag quisitions, show earnings in excess of $4.20 per share after preferred dividends. The sales of the com bined companies for 1920 were in excess of $57,000,000, wholesale. Ely and Walker Dry Goods Co., was founded in 1878, incorporated in 1883 with a capital of $500,000. Its present capital and surplus of $15,297,000 has been built up en tirely from earnings except for $2, 000,000 subscribed by stockholders. During this period the company has paid out in cash dividends $14, 392,328. Because of the conserva tive dividend policy followed by the management the amount in cash passed to surplus is considerably in excess of the cash dividends paid. It is believed that great econo mies both in purchasing and distri bution will be effected under the new set up, thus enabling all three units to serve better the retail trade. Thirty-three Factories Ely and Walker during the last 15 years have developed many na tionally known manufactured lines and are operating at the present time 33 factories, one of which is located at Fayetteville. Purchases will be consolidated through Ely and Walker, and New York representation will be grouped in the present Ely and Walker office, at 57 Worth street.
Newspaper Details
Fayetteville Daily Democrat
Fayetteville, Arkansas, US
Mon, May 26, 1930
Page 9
Full Page
Clipped by
Anonymous
USA 26 Jan 2026
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