The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1899-08-14
LOCAL FINANCIAL NOTES
MEMBERS OFTHE SYNDICATE I'll At
BOUGHT THE ROLLING MILL.

Features ofthe Dealings th Investment
In This City-Clearings and Balance,
of the New, Haven Banks-Railroad
and Other Dividends Soon Due.
Boston Electric Light is in more de-
mand at III to TIA.
New York, New Haven and Hartford
railroad sells in small lots at ZIG.
Swift &c Co. is fractionally less, with
few small sales at 1903 to 1881.
Southern New England Telephone
stock has sold at 1870. The outstanding
mortgage debt of the company is now
100000 due in 1913, and bearing inter-
est at per cent.
The Financial Review of August
remarks as follows regarding the alb
sorption of the New Haven Rolling mill
plant by syndicate:
The report that a syndicate composed
of prominent Pennsylvaniaians has
purchased the property of the New Ha-
ven Comm Rolling Mill company for
100000 is an important industrial item,
which, because of the character Of the
men identified with it, Is of interest
here. One of the members of the syn
dictate, 1T Is stated, is State Senator G.
C. Kaufman of Columbia, Pa, who is
as well known as a lawyer business
man and public figure as any citizen of
that state. Senator Kaufman has been
a member of the bar for twenty-five
years, and Is now city solicitor Of Co
iumbia. He is thoroughly versed in
the law in all its phases, though his
practice has not precluded him from en-
tering into important enterprises of a
business nature, as he is, in addition to
being president of the New Haven Iron
and Steel company, also president and
general manager of the East Columbia
Iron company general manager of the
East Columbia Land company and
director and chairman Of the executive
committee Of the Susquehanna Iron and
Steel company In the thirteen years
he has managed the Columbia Iron COM
pany he has paid the shareholders an
nually Tx per cent. cash, doubled the
output of the plant and has given them
two shares for one. Besides a cash sur
plus of 100000 the stock sells for $780,
par value $500. His active cooperation
in this latest move will be of great val
Tie to his colleagues, because of his wide
knowledge of the business and his ac-
quaintance with the law.
1t is noted that among the members
of the syndicate which purchased the
New Haven Rolling mill is the we'll
known business man of Philadelphia,
DR.. l.. S. Hilbert. He has been con-
nected with many important enterprises
in the past, which have called for a
great deal of hard work and discrimi
nation, and this latest is not among the
least. He is connected with the Sus-
quehanna Iron and Steel company, and
it is understood that the two concerns
will be closely identified. The New Ha-
ven property was secured for the pur-
pose Of supplying the New England
trade of the Susquehanna company,
which employs 1000 hands, while the
eastern mills have about 300 men. The
syndicate is composed of several of the |
best known capitalist of Pennsylvania, |
and Mr.. Filbert's influence will be |
strongly felt in the management.
Clearings and balances of the New |
Haven banks for the week ending Au |
gust -, and for the corresponding week |
of last year, are furnished by the Sec |
rotary of the New Haven clearing house |
as follows: i