The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1895-11-04
OLD FAIR HAVEN WATER co,
IHENER HAVEN co. EXITING UISHEs
LAST MORTGAGE ON ITS PLANT.

John Osborne kecalied-Other hlhhnclai
Notes of Local Interest-Southern New
England Telephone Gothic Meriden
Electric Road-New Haven Bank Clear
ings,
The New Haven Water company has
finally wiped out the last mortgage
on its plant. On Friday last, the bonds
of the old Fair Haven Water company,
both principal and interest, were paid
/ at the City bank for the Water COM
pany. Our older residents will we'll re-
{ member the great contest made by the
4 late Mr.. Benjamin Noyes and Caleb S,
Maltby for the privilege Of introducing
water to Fair Haven. They built dams
in what is now known as Maltby Park,
laid pipes to cross the West river, near
Mr.. Noyes' residence, and through their
engineer, Mr.. John Osborne of Mount
Carmel, had built what is now known
as Wintergreen Lake, but the latter was
not piped to the city, nor any income
derived from any portion of the plant.
The charter of the Fair Haven Water
company was finally granted, and the
water introduced through West Chapel,
George and we believe, a few other
streets. The New Haven Water com
pany after several meetings concluded
that the Wisest business policy was to
purchase the plant of its growing rival,
and did so. The present ex-Mayor Sar-
gent was one of the most active men,
bers in the transaction Among the
obligations We're 100000 first mortgage
z per cent. bonds, held mostly by Mr..
Maltby and friends, who was the real
backbone of the enterprise. One of the
conditions of turning over the Fair Ha-
ven companys property to the present
company was the endorsement of both
principal and interest of this bonded
issue. On November l of this year it
became due and was paid. Winter
green Lake has continued to furnish us
with some very good water, and the
transaction was a good business one for
the company and citizens.
Southern New England Telephone
company offers to it's stockholders the
right to subscribe to one new share at
par for each ten shares held. This will
increase the capital stock from $780,
900 to $1,650,000. This increase has been
held In allegiance for some years. The
present bonded debt of the company is
100000, making a total capitalization of
$2,150,000. There are no local invest
anents offering at par, which will pay
the investor 6 per cent, and this issue
of new stock, paying this rate, and
being offered at par, should be readily
taken by the present stockholders and
friends of the company.
New Haven county 81 per cent. bonds
are offered by Messrs E. c. Stanwood
& Co. of Boston at 102 and interest
They are put down as being a legal
investment for the Connecticut and
Massachusetts savings bangs and if one
is satisfied with a small rate the Sc
curity is over abundant.
New Haven school district per cent
bonds awarded on Friday to Messrs.
N. w. Harris & Co. of Boston at $780,
259 and interest. These bonds should
have little wider market, and the in
weston can afford to pay considerably
higher premium and have a higher in
come than in purchasing the New Ha-
ven county 81 per cent. bonds at their
advertised price.
The American Soda Fountain com
pany will pay a dividend of 21a per
cent. on the stock, for which the trans
fer books closed last week On Friday
of this week Cincinatti, Hamilton and
Dayton railroad will pay the usual quar-
terly dividend of IL per cent. on the
preferred stock. On Saturday last the
transfer books of the Rome, Watertown
and Ogdensburg railroad closed for a
quarterly dividend on IA per cent, pay
able November Is. AS the dividend
is guaranteed by the New York Cen
trail railroad checks will be sent direct
to the holder through that office. The
New England Telephone and Telegraph
company has declared a quarterly divi-
dend of IN per cent, payable November
Is. Western Union Beef company,
whose stock jumped up or per cent.
Wednesday of last week, has declared a
semi-annual dividend of ~ per cent,
payable November 25. The Bank of the
State of New York has declared a
semi-annual dividend of per cent.
Several of the savings banks of the
state hold the stock of this bank which
is one of the oldest in New York city.
Pennsylvania railroad has declared a
semi-annual dividend of 2b per cent,
payable the last day of November.
With the usual courtesy of that com
pany dividends to women only are paid
one day earlier. Sale of the new stock
of the American Bell Telephone com
pany to the amount of 1854 900 was sold
at auction last week by Messrs. R. L.
Day & Co. at $196 per share, par value
being 800. This is thought to be a
most excellent sale. The sale of the
Meriden trolley system to the New
York, New Haven and Hartford rail-
road is practically confirmed, as it is
announced of the transfer of 5000 shares
of the stock to the latter company. The
bonded indebtedness of the trolley road
is 100000. Price is supposed to be
about $1S00O0 or about 20 per cent. on
the stock.
Clearings for the New Haven banks
for the last week in October were near
ly 'S2,OO0,000 in amount, and as is usual
in recent years, are largely in excess of
the corresponding week of previous
years. By days the figures are:
1895. Balances 1894
Oct. %. .s211, 65O.53 S 3d. 10.53 $235. 1856 80