Cooper & Stern Limited : capital £12,000 : issue of 3,000 six per cent. "A" cumulative preference shares of £1 each : prospectus.

Date:
1899
Catalogue details

Licence: Public Domain Mark

Credit: Cooper & Stern Limited : capital £12,000 : issue of 3,000 six per cent. "A" cumulative preference shares of £1 each : prospectus. Source: Wellcome Collection.

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    'Qq.o%ipeqlu%. This Company has been formed for the purpose of acquiring, carrrying on, and extending the well-known business of Coopek Bros., hitherto carried on by Mr. W. Stanley Scott, M.P.S., as a Chemist and Aerated Mineral Water Manufacturer, and Proprietor of Stern’s “ Pumiline ” Preparations at Market Place, Cockermouth. The above business was founded in 1839, and has been successfully carried on ever since that time. It is one of the oldest established Drug businesses in Cumberland. The Premises are held on a lease from November, 1897, for a term of 11 years (at option of increase to 21 years) at a reasonable rental. During the four years of Vendor’s ownership extensive additions and improvements have been made to Manufacturing Plant. He has also acquired the valuable proprietary rights of “ Pumiline ” Preparations. The Vendor has considered it expedient to convert the undertaking into a Limited Company, by reason of the necessity for considerable extensions, to meet the increased demands of the business through the growing popularity of the various manufactures and special proprietary preparations, and also for the purpose of establishing a closer relationship between himself and his numerous customers by allowing them an opportunity of becoming Shareholders in the Company. The Company will take over the business as on the First day of January, 1899, and the benefit of trading from that date (no interruption having taken place in the transfer). Mr. W. Stanley-Scott agrees to act as Managing Director of the Company for a period of not less than seven years, and so long as he retains that office will hold at least £2,000 in Ordinary Shares of the Company, thus assuring his interest in the well-being of the concern. The Assets, Goodwill, &c., have been valued by the well-known trade experts Thomas Tomlinson & Son, of Manchester, whose report is as follows:— VALUATION OF THE BUSINESS OF MESSRS. COOPER BROS. “We hereby declare that we have examined, estimated, and valued the Stock, Fixtures, and Fittings, Utensils in Trade, and Manufacturing Plant, also Mineral Water Plant, Engines, &c., &c., used in the business of Wholesale Druggists, Manufacturing and Retail Chemists, and Mineral Water Manufacturers now on the premises and owned by Messrs. Cooper Bros., and we find the just and true value thereof as a going concern to be as follows :— Stock, Fixtures, Utensils in Trade, Engines, Mills, Manufacturing Plant, Mineral Water Machinery, and Accessories, together with the value of existing Lease, Goodwill, and all Trade Marks and Proprietary Rights in ‘ Pumiline ’ and also in Mineral Waters (Six Thousand Pounds) ... £6,000 From our long experience and general knowledge of the Drug and Allied Trades, we can testify with confidence to the profitable nature of the business carried on by Messrs. Cooper Bros. We consider this not only a highly profitable but thoroughly sound concern. THOS. TOMLINSON & SON, Licensed Chemists Valuers, 9, New Cannon Street, Manchester. August 15th, 1898.” That the security for the present issue is more than ample will be seen from the following figures:— Valuation of Stock, Fixtures, &c., as per Messrs. Tomlinsons’ Valuation above ... ... ... ... ... ... £6,000 Cash for further extension and Working Capital ... ... ... 1,000 £7,000