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Show 58 FEBRUARY INC. MACH Joseph A. Morrone, Pres. DIRECTORS: The officers RATING: - = to F AND STREET ADDRESS li, 199 SHOP insurance, and CORRESPOND for in STRICT CONexclusive use as no WITH other YOUR purpose. INQUIRY HOPE VALLEY,Re I. WASHINGTON COUNTY (MOS COW -HOPKINTON) FrankA. Morrone, Treas. 4 SYNOPSIS employed ESTIMATED WORTH: PAYMENTS: Prompts. in $17,000. Cash CONDITION & TREND: profits retained. Incorporated under succeeding line aJjso. usually Rhode covers previously auto SALES: $50,000 Yr(Est) sales volume steady 21, 1945, debt; HISTORY Island firm; GY and 1945, laws | and Ye mechanics Incor,orated | August with an 4 q BACKGROUND: OO or Contract, for your Vi lla _ ae ld7/77 COQ., BUSINESS Subscription employees, VM — ddZ/Yi MANUFACTURING NAME, credit your and. Morrone are brothers, and natives born. They worked in the automobile line until they, together with John and sylvester Morrone, began an auto sales and service business at 100 Main Street, Westerly, R. I. as Morrone Bros. That firm maintained a branch at Main Street, Bradford, R. Ie, which was discontinued during 1941. Morrone Brose as of January 4,199 had an estimated net worth of $25,900 and a prompt paying Morrone Bros. bought out LaPoint Westerly in October garage until they was formed August Westerly, RI. to 1943, and in (60%); 100 Main Street, with the decided to segregate the lines, and this corporation 21, 19456 It moved in 1948 from 100 Main Strect, the present location. It is reported that this about Manufactures retailers at conductedit in conjunction concern will soon incorporate and will manufacture sporting actively record. Mfg. Coe two and be known as guns, with such the R. I. Arms Corp., production to start or metal general three months. OPERATION=-LOCATION items which are being machine sold shop work is also officers were absent. to large being national done for a few local plants (10%), with dealings on 30 day credit basis, and all types of machine work handled. It leases and is the sole occue pant of this two-story brick building which is maintained in good repair. fhe premises are orderly. | FINANCIAL INFORMATION On February 14, 194.9 the Available mation indicates a financial condition approximately cash $),,000, accounts receivable $3,000, merchandise and equipment in excess of $2,000 and miscellaneous accruals and tax debt, leavan approximate net worth estimated at $17,000. Annual sales estimate: at $50,000, There are reported no withdrawals. This concern has retained its profits and built up a good volume now making smaples for sporting guns, with production to start actively in two or three $5,000. months, # The but liabilities full details are infor- as follows; $4,000; fixtures not ing are and represent LY Li;| Bros. Frank 44M, and of to the trade operations (CONTINUED) not WG Morrone Morrone Y) succeeding Joseph Yi 1915 UY, authorized capital of 100 shares of no par value common stock as Morrone Bros. Mfg. Co., and an amendment was filed September 11, 195 changing the name to the above, Active operations started August YM Vy VUV7 cb MORRONE granting 2 Yy WHETHER of =: : i 4YU.4GG advisability. ==(=— = REA Y NOTE the request, as your Yyy Uy, PLEASE determining your Inc. MU, in furnished, at BRADSTREET, “YY aid & 4Yy an is DUN ant ii The — FIDENCE, |
