The times. [volume] (Washington [D.C.]) 1897-1901, 1900-11-26

oue Story is that all the ullncuilleS ne
tween this company and the Seaboard Air
Line have been patched up.
The application TO the stock exchange
for the admission of the Aulalgamated
Copper Companys stock to the unlisted
department was accompanied by very
brief statement which contained few addi
tional facts to those made public when the
corporation was formed and its shares
were offered to subscribers at par by the
National City Bank. Instead of making
any allusion to the profits of the company
or its financial condition the statement
simply announced that the company own
ed the entire capitalization of the Wash
hoe Copper Company, of Butte, $1,000, 600;
the Colorado Smelling and Mining Com
pany, of Butte. s2.5O0,0O0; the Diamond
Coal and Coke Company, of Diamonds
vile, Wyo., S1.5C0, 900, and the Big Black
foot Milling Company, of Bonner, Mon,
SIcc,C0O. In addition it owns a majority
of the stock of the Anaconda Copper Min
ing Company, the Parrot Silver and Cop
per Company, and the Hennessy
Mercantile Company. Besides these it
was admitted that the company was a
large owner of the stock of the Boston
and Montana Consolidated Copper and
Silver Mining Company, of Butte. Upon
these properties there is no bonded debt.
The company has made five consecutive
quarterly dividend payments of per cent
each since its organization. The capital
is $40 ,000, 900.
There seems to be a rather definite
understanding in inner circles that
larger dividend will be paid on Denver and
Rio Grande preferred at the directors
meeting next month. In common with all
of the properties in Colorado, the Denver
and Rio GTande has enjoyed unsual pros
perity during the past two years. From
the coal tonnage of the Colorado Fuel and
Iron Company alone the income would en-
able an extra distribution to the pre-
ferred shareholders. Besides this impor-
tant item, the new steel plants of the
Colorado Fuel and Iron at Pueblo pro-
vide large amount of freight of which
the Denver and Rio Grande receives its
full share. The net earnings are under
stood to be equal to about per cent on
the preferred. The present rate paid is
per cent semi-annually. There is a ques-
tion whether payment of 1-2 per cent
shall be ordered as an extra distribution,
or whether the stock shall be placed upon
a regular per cent yearly basis.
Efforts to provide the American Lin
seed Company with additional working
capital, which it stands much in need
of, are being made in Chicago. Thus far
there have been no overtures made to
capitalists to enter into such a trans
action. The company is, it is under
stood, borrowing upward of 5000, 900,
principally from Chicago and Northwest
ern banks. Nearly all of this is tied up
in raw fiaxseed. in addition to the Sc, 0OO,-
coo cash with which the company began
business. A tentative plan which has been
suggested by a Chicago committee is that
the outstanding shares shall be called in
and exchanged for new ones on the basis
OF 40 to 30 for the old preferred and to
10 for the common. the underwriters to
get bonus of common equal to the pre-
feired. 1t seems more likely, however,
That a bond issue will have to be made
with the plants of the company as Sc
curity, In order to provide the 5000, GOO
required.