PRIMO MOTOR COMPANY
(1910–1912)
Atlanta, Georgia, USA
There is very little of this car company. I did find this on the stock offering
To this date, there has been $151,000 of the first issue of $200,000 of Primo Motor Stock subscribed for, and of the first year’s product of cars, practically the entire output has been sold or contracted for. It was originally intended to offer the remaining $50,000 of stock at a 50 per cent premium, justified by the unusual demand for PRIMO Cars, and the showing the company can make with reference to earning power; but at a meeting of the Executive Committee, held in the company’s offices June 11, it was decided to offer another block of $25,000 of stock to the public at par—$50 per share.
All of the issue of stock is COMMON, there being no bonds or preferred stock—every stockholder sharing equally the profits of the company. Ninety per cent of the automobile manufacturers of the Detroit distriot aro earning from 30 per cent to 200 per cent profit per annum; but the public generally holds its 6, 7 aud 8 per cent Preferred Stock, and the “close corporation” holds the common, and enjoys the larger portion of the profits. The PRIMO offers its general stockholders the same class and kind of stock as its officers and largest stockholders hold, viz.
- VAN WINKLE . President
- F. ASKEW . Vice President
- O. FIELD . . . Secretary
- A. CERF . . . Treasurer
