The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-07-11
TAKES 100000.
Worcester's Subscriptions
to N. E. Cotton Yarn
Company Stock.

The subscription books for stock of
the New England Cotton Yarn Com
pany were opened at the banking house
of Kinnicutt & Dewitt, in this city, at
10 o'clock, yesterday morning.
They were closed in is minutes. 1t
had been over-subscribed to three times
the amount offered, a record unparal-
leled in stock investment here.
million dollars worth of the stock
had been applied for inWorcester alone.
1t is an excellent indicator Of the great
amount of capital waiting safe invest
ment here.
1t is probable that the subscribers will
be allotted one-third in bonds and two
thirds in stock.
The bond issue amounted to SIS, 700,-
600; preferred stock issue, IS, 600, 900. The
shareholders of the old companies and
their friends had already purchased
100000 before the books were opened.
The aggregate net earnings, as re-
ported by Deloitte, Dever, Griffiths &
Co. of the separate companies for the
fiscal year were $1,106, 1910.
| (Howard, Crosby & Co.'S Boston letter.
Boston, July 10.-As was natural. with
the government report coming this after
noon, wheat was slow today. 1t opened
easy, ssc under Saturday and was weak
on prospect of an increase in the visible
| big Indian shipments and large north
western receipts. The seaboard rather
persistently reported better export de-
mand. and put the boatloads as high as
| rs, 10000 bushels old wheat in farmers
hands, with 80, 600, 900 in the visible supply
was rather bearish, but when the increase
IN the visible was reported as only 1884,
GOO bushels, or one-half million less than
| expected, the market steadied somewhat
me government report this afternoon is
expected to give condition of winter
wheat at 67.3 or q little better than last
month; spring wheat, 9i.4, or a little
| lower than last month Liverpool opened
"a. lower and closed I'D. to ed. lower
Trade was of a scalping character all
Day, the large operators preferring to
wait until the government report was out
Inc stock market opened feverish and
lower, the adverse influence being the
unfaVorable aspect of the Transvaal stu
alton and the fear of monetary strin-
gency, the latter aroused by the heavy
loss IN reserves reported by the banks
at the opening caught numerous STOP
loss orders; Sugar sold off on realization.
and Consolidated Tobacco dropped sharp
", me railway list was pressed by the
pears, ana the rise to per cent for call
money. led to general trade liquidation,
IN which the weakness of B. r. T. ex-
erted an unfavorable influence.
a neaVy London market also aided the
decline, The directors of f. S. Co will
meet Wednesday and will consider the
matter OF dividend on the common stock
which Is now restrained by an injunction,
but the Injunction may be removed by
the time the meeting Is held If this Is
not. the case, however, we understand
from excellent authority that the direct
ors Will make provision to set aside the
dividends as they come due and pay in
bulk at the end of the year.
The preliminary statement to be issued
by the l.. q ~. this afternoon will show
that the road has earned very close to
per cent during the year. What the
dividend Will be increased is altogether
uncertain at the moment, but the ex-
pectations, are that it will be Increased.
The first loan in money today was at S
per cent. afterward increasing, as stated
above. A prominent director Of ST Paul
says regarding the expectation of extra
DIVIDENDS on st. Paul common stock: II
think the management would be we'll adj
vised IN leaving the dividend where 1t is,
at per cent no more, no less | am
lot the board, but that is my opinion''
Speculative attention was directed to r.
e. q L because that company has some
thing like S,0O0,000 in sinking funds which
nave not been met. Private reports were
received from Chicago denying talk of a
prospective gas fight The market was
largely professional and the liquidation
was OF that character.