Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1898-07-29
BELLOWS FALLS.
The Paper Trust.
Property valued at Observation-Disclosures
for Floating Bonds of Concern Com
trailing Fall Mountain Malls.

prouerty valued at $4,000. OOO--Plans
ror Floating Bonds of Concern Cone
trolling Fall Mountain Malls.
The International Paper Co., now owning
aud managing the Fall Mountain mills here,
is lust upon the point of placing its securities
on the New York stock exchange, although
they have been dealt in to a small extent
on Wall street since it was organized
For this purpose the stock exchange
house of Hatch IL Foster, the bankers
who ere to handle the bonds, are about to
issue the following circular letter which
will be of local interest, as giving clear
and definite information in relation to the
company. >
The international Paper company of
New York was incorporated Jan. |, 1878.
II at once took over by purchase 20 Of the
principal pulp and paper mills of the coun-
try. which produce from - to 80 per cent
of all the news paper manutactured.east OF
Chicago
The average daily output of these mills
is Ground wood pulp, 1000 tons per day:
sulphite pulp, 256 tons per day; finished
paper, nearly 1900 tons per day.
The leading manufacturers retain their
interest in the industry, and many of them
y
promotion of the business of the new COM
pany ,.v
The company has issued the following
named securities, the large majority of
which have been used in payment OF the
mills water power and woodlands acquired
hv the new corporation: First consolidated
mortgage 6 per cent gold bonds, dated
Feb. |, running 90 years, interest payable
half yearly, Feb and Aug. y, $4,000,
O00 preferred stock, cumulative q pei
cent, payable quarterly, S25,OOO,OOO; com
mon stock, $50, 100000
The appraised value of the property Sc
curing above named bonds is $40, 600, 600
Net earnings are now more than sufi
Gent to pay the interest on the bonds al
the rate of per cent per annum, divi
dends on the preferred stock at the rate OF
6 per cent per annum, and 10 per cent
dividends on the common stock, while the
indications fully sustain the belief that they
will be even higher in the future
Regarding competition, it can hardly be
expected to prove successful if attempted
for the valuable water power and timber
lands-400, 900 acres of the latter being
held by the company-could not be easily
duplicated or acquired.
The securities of the company are selling
about as follows: First consolidated mort
gage bonds, 105 and interest to 1O6 and in
terest: preferred stock, S4t to Sc; common
SO TO SO.
Comparing this company with others O.
like character, and keeping in mind tn
ability and experience of the officers an
directors. the great value of the variOu
plants owned and operated, the large mar
kets here and abroad, and the success
which has attended the company since it
organization, we are of the opinion tina
the above named securities will sell niue
higher than at present They afford, W
think, an opportunity to invest, with cor
fdence that returns will be exceedingl
profitable.
For all the facts mentioned in the fore
going we are indebted to the officers OF tn
company. 100 -,
We look to see the bonds sell at l20, I'll
preferred stock at 10, and the commo
stock at 50 or above during the comm
year.