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CHALMERS MOTOR FINANCING

American Government Special Collections Reference Desk

Topics:  Chalmers

CHALMERS MOTOR FINANCING

The New York Times
November 2, 1916


Corporation to Have an Authorized Capital Issue of 600,000 Shares.

The Chalmers Motor Corporation, successor of the company of the same name, will have an authorized capital issue of 600,000 shares without par value, of which about 135,000 will remain in the treasury. For the present stock of the Chalmers Motor Company of Michigan 200,000 shares will be exchanged, and the 265,000 shares remaining will be offered for subscription at $35. J. S. Bache & Co. and Charles D. Barney & Co. are making the offer.

The preferred stock now outstanding will be redeemed at a redemption price, but holders will have the privilege of exchange for the new stock. The corporation will have no liabilities other than current accounts. It manufactures about 25,000 cars a year and plans to increase this to 30,000 next season.

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