The daily morning journal and courier., 1896-12-14
loCAL rTNaNCIAL NOTES.
The Prevailing Dullness of the Investment Market-Dividends Due Tomorrow Union Pacific ReorganizatiOn-New Ha- ven Bank Clearings,

Union Pacific Reorganization-New Ha- ven Bank Clearings.
 The general investment market is in a rather dull state, though the high prices at which the city of Hartford awarded $S00,OOO S1a per cent. bonds Wonld indicate great confidence by dealers in municipal bonds that Janu- ary investors will be willing to pay al- most any price for the best kind of se- curities. These bonds were awarded on a basis to pay S.S0 per cent. To make a profit of course it must be sold at a still higher price to yield about 3.25 per cent
 Southern New England Telephone company rights are quoted at $2 bid and $2.75 asked in round lots
 The Diamond Match company has declared a dividend of 2la per cent, which was payable on Saturday. The price of the stock has declined during the past week from 124 to 11S, the clos ing price being 119.
 Dividends due tomorrow are:
 Chicago, Burlington and Quincy rail- road, per cent, quarterly, Consolidated Gas company of New York, 2 per cent, quarterly Delaware and Hudson Canal compa- ny, 1& per cent. quarterly. Eastern railroad of New Hampshire, ll@ per cent, quarterly. | Laclede Gas company preferred, 31a | per cent, semi annually.
 National Lead company preferred l& l per cent, quarterly. ... | Standard Oil Trust company, $5 per | share.
 Spirits Distributing company first preferred, $175 per share. .. .... | Swift x Co.'S books close next Friday for quarterly dividend of IF per cent, payable January 4.
 United States Rubber company's books close December "A.
 The committee of the Union Pacific reorganization, of which Chauncey M Depew and others are members, has | issued a circular to the security hold CTS, which is as follows:
 "To the Security Holders of the Union
 Pacific Main Lines inclusive of the
 Kansas Pacific Line:
 | At meeting of the reorganization 1 committee of the Union Pacific railway held on December 4-all members pres ent-it was unanimously decided, un- der the provisions of the plan, to ex- tend the time, during which the plan and agreement may be declared opera tive, to June 30, 1897
 'The committee has given constant and earnest attention to all matters pertaining to the reorganization, and especially to the paramount question of 8 settlement with the United States government. Its representatives have frequently appeared during the session of congress which began in December, 1895, and lasted until June, 1896, before the committee on Pacific railroads of both houses, who, shortly before the adjournment of the last session of con- gress, agreed upon bill for the adjust ment of the indebtedness to the United States of both the Union and Central Pacific Railroad companieS-in it's main features satisfactory to your commit tee. No action, however, was taken by | congress at the last session upon the l funding bill presented by it's commit- tees, and 1t is expected that the bill | will be taken up at the adjourned ses- | sion, now converting,
 Tt is hoped that action by congress may be favorable, in which event your committee intends to promptly proceed with the reorganization upon the lines of the proposed funding bin Should, however, this expectation not be real ized indications point to the probability that the government will proceed, un- der existing authorization, with the foreclosure of its liens, Tn such event your committee intends to prepare for a purchase of the property under such | foreclosure, which it is in a favorable position to do and to thereupon reor- ganize the property in accordance with the terms of it's plan.
 Tn the existing situation your com mittee has deemed it prudent to post pone action in declaring the plan oper- ative until the attitude of congress and the executive become more clearly de- fined; but your committee fully expects to declare the plan and agreement op. erative at an early date possibly witt the notifications which a changed sit. uation may demand.
 Meantime, under existing arrange ments, maturing interest on deposited first mortgage bonds will be paic through the Repositories, as hereto fore"
 Clearings and balances of the New Haven banks for the week ending De cember 12, and for the corresponding week of last year, are furnished by the secretary of the New Haven clearing house, by days, as follows: