The Manhattan Shirt Mill ~ Salem NY
The Manhattan Shirt Company. – The buildings occupied by the company here have been bought by Henry A. Spallholtz, it superintendent. It has been rumored that the company, whose headquarters are in Patterson, N. J., intended to close the plant at Salem N. Y., but the purchase of the property by Mr. Spallholtz is taken to mean that the company will continue manufacturing without interruption.
~ Men’s Wear The Retailers’ Newspaper ~ February 06, 1907
THE MANHATTAN SHIRT CO.
A corporation formed under the laws of New York, June 15, 1912. The company took over the property and assets of the Manhattan Shirt Co. of New Jersey and acquired all the stock of the Solway Dyeing & Textile Co. The company owns large factories in Paterson, Passaic, N.J., Salem, N.Y., Poultney, V.T., and Pawtucket, R. I. It also leases factories in Albany, Fort Edward, N.Y., and Pittsfield, Mass. The plants are equipped for manufacturing high-grade shirts, of which it is the largest producer in the United States, also for dyeing, bleaching and weaving shirtings, suitings and dress goods, the weaving mills having a product of upward of 3,900,000 yards of finished material. It also does merchant dyeing and mercerizing of yarns for others. Stock Par $100 com. $5,000,000 pref. $3,000,000.
The preferred stock is 7 per cent. cumulative with a preference as to assets. It is redeemable in whole or part at 120 and accrued dividends, and cumulative sinking fund is provided for its retirement at up to 120, to amount to $45,000 by January 1, 1913, and $90,000 per annum thereafter. The initial dividend on the preferred was 1 3/4 per cent. quarterly, paid October 1, 1912. The company has no funded debt and no mortgage can be created without the consent of three-quaters of the preferred stock. The tangible assets, exclusive of trade marks, good will, etc., on May 31, 1911 were $485,636 per annum.
President, Lewis Levi, Patterson, N.J. Secretary, Jules C. Levi, Patterson, N.J. Treasurer, Jacob Samuels, New York.
Directors – William Hallowell, Pawtucket, Lewis Levi, Paterson. Jules C. Levi, Paterson.
Corporate office, 236 Fifth Avenue, New York.
~ The Manual of statistics:stock exchange hand-book ~ 1913