Akron daily Democrat. [volume] (Akron, Ohio) 1892-1902, 1901-11-18
BONDS
Sold Well In the
East.
E. & N. Syndicate Sc.
cured $ll,lOO,OOO.
New Properties to be Taken
Over Soon.

AS the result of the Eastern visit
of it's officials the Everett-Moore syn
dicate will soon have $11, 100000 in
its treasury, the proceeds of bond
sales. The money will be used in
purchasing some new property, and
completing the Il. & M. system.
The fnanciers who visited New York
have bills of agreement calling for
the immediate transfer of bonds aggre-
eating in value the sum of $S,G00,O00.
OF this sum 100000 represents the
purchase price of Southern Ohio Trac-
tion company bonds, $500,000 the pur-
chase price Of Cleveland, Elyria &
Western bonds, $3,OO0000 the pur-
chase price of Detroit & Toledo Shore
Line bonds, and $4,50O,OOO the pur-
chase price of Lake Shore Electric
Railway bonds.
Arrangements were also made In
New York for the purchase of an ad-
ditional block of $1,5O0,OOO worth Of
Lake Shore Electric Railway bonds
and $1,OO0000 worth Of Federal Tele-
phone bonds, making a total of $11,-
100000 that will ultimately come to
| the Everett Moore treasury. With the
| exception of the bonds last mention
ed, all those sold will be transferred
Immediately and the proceeds will be
in circulation within ten days.
Henry A. Everett II. w. Moore
Barney Mailer and Guy V. Walker
represented the Everett-MO syndi-
cate in the sale; IT. l.. Fuller and II. r.
Pomeroy represented the Pomeroy-
Mandelbaum) syndicate, and M. j.
Mandelbaum represented the Southern
Ohio Traction company. These elec-
trio railway men acted independently
of each other although several occu-
pied the same sleeper going to and
returning from New York. Messrs
Pomeroy and Fuller returned from
Philadelphia, where they made thell
sale Saturday afternoon. Members OF
the Everett-Moore syndicate and M. j.
Mandelbaum did not return until yes.
terday morning.
The first results to be felt from the
sale Of bonds will be returnable to the
Pomeroy Mandelbaum syndicate. The
bonds. which are first mortgage, twen-
ty-year Ave per cent gold bonds, will
be expressed to Philadelphia. Imme-
diately on their arrival there, draft
will be drawn ON the Philadelphia
buyers and the 100000 will be placed
to the credit of the syndicate.
English capitalists are largely inter
ested in the transfer of Everett-Moore
syndicate securities. Acting through
Kean, Van Courtland & Co., of New
York, they have invested largely In
the Lake Shore Electric Railway
bonds, A party OF these capitalists
representing London, England
house, made a visit to Cleveland abou,
ten days ago and inspected the Lake
Shore Electric Railway.
Another matter of great importanc,
that engaged the attention of r2pre
sentatiyes Of the Everett Moore syn
dicate related TO the establishment OF
a New York Office. Hereafter the syn
dicate will be represented In New
York by Guy v. Walker. 1t is tn,
intention to make New York Il marker
for many of the syndIcate's securities
Mr.. Walker has large circle OF ac
quaintances In that city, and Is pecul
larly fitted for the position he vii
hold. He is an authority on finance
and enjoys wide reputation as 1
writer on the subject He has beer
acting In the capacity Of legal coun
sci for the syndicate.