Morning journal and courier., 1893-05-03

The receipts from donations exceed thOst
of the previous year by s7s6 "a The as
sets at the close of the year exceed those Al
the beginning 1904 IL.
Two additional Bible repositories have
been established-one in New haven and
one in Bristol.
Officers were chosen as follows: Presi
dent-Rev. Joseph Anderson, D. D., Water
bury.
Vice presidents-Rsv. j. L. James, Hart
ford; Rev. James W. Bradin, Hartford
l.. d. Warner, esq, Naugatuck; Rev
George Adams, Hartford.
Executive commtttee-Rev. Joseph An
derson. D. D., Rev. George Loon Walker
D. D., David N. Camp, Rodney Dennis,
James B. Williams, John W. Lamb, VIII
liam H. Tslcott, Rev. William q. Moore
Samuel N. Hotohkiss, Rev. James w.
Bradin, Rev. s. D. Phelps, D. D, J. h
Sessions, Rev. 81. Il. Kelsey, Rev. David
E. Jones, Nelson Hollister.
The following persons were chosen cor
porate members: Hon. Loren Cook, Riv
erton; Rev. Watson L. Phillips, D. D., New
Haven; Rev. James Dingwell, Rockville
Richard A. Robbins, Wethers6eld; Rev
Thomas Simms, Manchester; Rev. John
Barstow, Glastonbury; Rev. T. M. Hodg
don, West Hartford.
An Opportunity for Investors.
Messrs. Barring, Magoun & Co. and Hell
delbach, Ickelheimer & Co. of New York,
and Kidder, Peabody & Co. of Boston
offer to investors for subscription at 10s
and interest $s,OOO,00O 6 per cent. sinking
fund gold debentures of the United States
Leather company, part of an authorized
issue of $40, 000, 900, principal and interest
payable in gold coin. The company has
been Incorporated under the laws of the
state of New Jersey and has taken over the
properties and the business of the largest
firms having been engaged for many years
in the tanning and sale of sole and belt
leather, as per prospectus published in an
other column. A sinking fund has been
formed by which the company agrees to
set aside sufficient funds from the
earnings of the company to pur-
chase at least per cent. of the
total Issue of debentures that can be pur-
chased at under 10 and interest every
year, and if the bonds cannot be bought
at or under this price then the funds
necessary to buy up to per cent. of said
total issue shall be deposited with the Gen.
trail Trust company, as trustee, which
shall proceed to draw by lot sufficient
bonds to complete, with any debentures
purchased, the total of per cent. of the
debentures issued, all of which 80 pur-
chased or redeemed will be cancelled by
the Central Trust company as trustee.
The company begins business without
debt, excepting the present issue of de-
bentures, and 1t has been certified to the
bankers by the principal vendors that, in
GLIDING the proceeds of this issue of
Sc, O0O, 900 the assets of the company will
be at least seven times the amount of
such issue, forty per cent. of such assets
representing real estate and the balance
hides, bark and olher personal property.
No mortgage bonds can be issued unless
by the consent of 80 per cent. of the pre-
ferred stock outstanding at the time. The
statement of the vendors is that the
average annual net earnings for the past
five years of the combined business, form
ing the new company have exceeded eight
times the amount necessary to pay the an
nual interest and sinking fund charges
upon the 50, 000, 900 of the debentures now
issued. Applications will be made to list
the bonds upon the New York and Boston
stock exchanges. The subscription books
will be opsned ON Thursday, May at 10
a. M, and close on or before Saturday,
May s, at 10 O'Clock, 10 per cent. to be
paid upon application, % per cent. upon
allotment and So per cent. and interest IF
teen days thereafter, preference to be
given in allotments to the leather trade
and to employees of the vendors.