Beautiful uncancelled certificate from the Brooklyn Wharf and Warehouse Company
issued in 1896. This historic document was printed by the American Banknote Company and has an ornate border around it with a vignette of the wharfs in New York. This item has the signatures of the Company’s officers, David Dows, Jr and Warren B. Nash and is over 114 years old. The certificate was issued to George W. Young and is signed by him on the back.
Manual of Statistics - 1898
BROOKLYN WHARF & WAREHOUSE COMPANY.
A New York Corporation, organized in January 21, 1895. Company's property includes the entire wharf, dock and warehouse interest of Brooklyn between the Erie Basin and the Empire stores above the Brooklyn Bridge, about 14,000 feet of the most valuable water front in the vicinity of New York. Nearly all the property is owned in fee simple, but a small portion being held under lease. In July, 1896, acquired the Robinson stores and dock property at Brooklyn, practically completing its control of entire water front.
( Preferred, Series " A," $2,500,000 J Stock -< Preferred, Series " B," 5,000,000 > $12,500,000
( Common, 5,000,000 ) ist purchase money, mort., 5 per cent., due 1945 (Feb. and Aug) $17,500,000
Bonds authorized are for $17,500,000 and $1,500,000 bonds were held in company's treasury, to be used to acquire other property. This amount was so used in 1896 to acquire Robinson's stores referred to above. To issue any further mortgage consent of 90 per cent, of preferred stock is necessary. Preferred stock, series " A," is 6 per cent, cumulative. Series " B," preferred, is also 6 percent, cumulative. No dividends can be paid in common stock until $100,000 for the year has been added to the surplus fund. Average net earnings of properties for three years before organization of company were in aggregate over $1,290,000.
For year ending January 31, 1896, net earnings were $1,021,167, and surplus $221,167. In year ending January 31, 1897, net, $1,010,756; surplus, $173,256. In year ending January 31, 1898, net, $1,042,074; surplus, $167,074.
Last dividend on preferred " A," 6 per cent., annual, March 1, 1898.
President, Thomas A. Mclntyre, New York; Vice-President, David Dows, Jr.; Treasurer, William A. Nash; Secretary, Samuel Taylor, Jr.
Office, 68 Broad street, New York. Trustee of bonds and transfer agents, United States Mortgage and Trust Co., New York.
The pictorial history of Brooklyn - 1916
GREAT PLANT OF THE NEW YORK DOCK COMPANY. COVERING THREE MILES ON BROOKLYN'S WATERFRONT, FROM THE BROOKLYN BRIDGE TO THE ERIE BASIN
New York Dock Company
O THE UNINITIATED an attempt to find romance in a corporation bearing the prosaic name of the New York Dock Company must seem a fruitless undertaking. And yet Victor Hugo could have constructed one of his gripping tales out of the business and history of this company without any great stretch of the imagination, if the great French writer of realistic stories had met President William E. Halm in the latter's office in the South Ferry Building, Manhattan, and enjoyed an hour's chat with him about the beginning and the development of the vast enterprise of which he is the head.
From President Halm's office windows a fine view can be had of the great plant of the New York Dock Company, covering the Brooklyn waterfront of the East River from the Brooklyn Bridge to the Erie Basin, a distance of three miles.
Indeed, there is romance to spare in the rise, fall, resurrection and final success "beyond the dreams of avarice" of this globe encircling commercial undertaking modestly called the New York Dock Company. President Halm himself regrets the name. He thinks it is not sufficiently descriptive—that it does not convey anything like a correct idea of the character of the company's business activities. The New York Dock Company owns three miles of waterfront in the greatest harbor of America; it owns the largest warehouse system and the largest pier system on this continent, as well as a large number of manufacturing plants. It operates more than 200 warehouses, 39 piers, and three railroad terminals, consignments to and from rail lines being handled direct by cars which deliver and receive shipments at the door of the manufacturing buildings.
Into the company's docks come ships bringing cargoes from the farthest corners of the earth. Not less than nineteen great steamship lines berth at its piers, while ten trunk line railroads connect with the company's railroad terminals.
To illustrate the enormous quantities of products harbored in the storehouses of the New York Dock Company it need only be said that at the present moment they contain more than a million bags of coffee, a million bushels of grain, above 100,000 tons of sugar, 150,000 bags of cocoa, 25,000 cases of rubber (worth about $3,000,000 at the present high price of that article) and an endless variety of other commodities, roughly valued at $25,000,000. It is worth mentioning that in the month of January, 1911, the value alone of the coffee stored by the company in its warehouses amounted to $32,000,
000, or $2,000,000 more than the par value of its outstanding stocks and bonds.
The origin of this merchandise, the labor expended in its production by civilized and half-civilized men of every clime, the hazard in bringing it over treacherous seas safely to this port and the process of its ultimate distribution among millions of human beings, rich and poor, the blessed and the unblessed—is there not food for the imagination in this and enough romance to fill volumes?
But that is not all. The "local atmosphere"is there, too. Very few people in the borough know that the New York Dock Company, under the name of the Brooklyn Wharf and Warehouse Company, was founded nearly a generation ago by men whose names are closely interwoven with the history of Brooklyn—Pierrepont, Woodruff, Clinton, McCormick, Dows, Martin, Fay, Robert, Prentis and others, and these names are perpetuated to this day in the nomenclature of groups of warehouses of the New York Dock Company.
These men, representing the old aristocracy of Brooklyn, and all of them residents of "the Heights," originally owned each a strip of waterfront with a pier for bathing, fishing and pleasure boats, within easy reach of their homes. As the traffic in the river grew the use of these piers was gradually changed to commercial purposes. Eventually the owners consolidated their shore properties and organized the Brooklyn Wharf and Warehouse Company, whose chief business was to be the handling of grain. Large grain elevators were built and for a while the company prospered. But soon the commerce in grain at this port began to decline owing to increased terminal facilities at other Atlantic ports and lower rail rates to those points, and the company failed.
The New York Dock Company was then organized and acquired all the property of the Brooklyn Wharf and Warehouse Company. While also handling grain, the new company did not make this article its chief reliance, but at once branched out into a general warehouse business. Its motto was "improvements." From the first year of its existence it has kept abreast of the times, and is today constantly adding to and improving its enormous plant which now represents an investment of $30,000,000. The company had its ups and downs, too, but wise seamanship carried it safely through the shoals and into the harbor of permanent prosperity.
Just now the New York Dock Company has a $2,000,000 construction program under way. This includes three new piers of great size which will be located directly over the Joralemon 3treet, Clark street and Montague street river tunnels.