New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-11-10
r expiration Of the. syndi-

IN that position until the expiration Of the syndi-
oa,e's ne on Julv % 1906
IN All 81 i6lcsS ia cash has been supplied 20 the
United Ststes ShipbulldnG COMPANY by the under
me - 81 10 90 81 bonds At n The full terms %
tho contract t'w"e i9r .nlPbnilolls oi1i az nd
me u1deT"Ti'is i s:,.,tes sbipbuiI5ing Company
owns ..,ary sar 81 stock Of its subsidiary com
-,anies and i'm addition. has plenty 81 working capt
tal IN is treasury. The shipbuildlnE company Is d
France has 50 Tar failed 10 pay up its amount
of subscriptions to the underwriting syndicate
loans were made IA this country al various IN
titutions 10 take the place 81 these nhp6lG u2
scrptons The Trust Company OF the Repuohc
-arried a portion of these loans .
A rev syndicate. Of which the North American
company l. the corporate nltlllH'i =, NJ ~,
formed 70 be managed boy George IL sheldon
This syndicate has purchased the collateral ana IS
about 20 pay all the loans ,s ,. ,,-,,,+
by the Trust COMPANY Of ia. Republic and @thrr
I,s1V ~ The Republic will be relieved of any obi
cation toward the Tinted states snlpnu w iI
underwriting syndicate from which II has obtained
a proft.
Frederick D. Kilburn, state Superintendent
OF Banking. made the following statement:
7 have looked into the matter, A syndicate is
auired amount has already been subscribed 10 take
out OF the Trust Company Of the Repuhlc every
shpbuilding Company, BY Monday night the bal.
sneS VIII DC sGnscrlped ana me SECURITIES 'r ibt
and there is absolutely no cause for alarm con-
corning g.
x
George r. Sheldon said last evening at his
home, No. - East Thirty-eighth-
The syndicate that is to assume the ohgs-
lions OF the Trust Company of the Republic in
respect 20 the United States Shipbuilding Com
Dany. Is one Of the strongest that could posi-
bly, be formed. II Is made up of men I'm the
Street who are interested IN seeing things go
right and who have stepped in to the stu
alton. The names Of the subscribers viii. or
course. not be made public have moth
ing 20 say and know nothing about the affairs
IF either the United States Shipbuilding Conn
Dany of the Trust Company of the Republic
My work has been wholly in forming the Fyndl-
cate
The United States Shipbuidng Company was
incorporated in NeW-Jersey on June Ia last II
is cOmbins ton Of the following companies:
Union Iron Works, san Francisco; Hyde Wind
lass Company and Bath Iron Works, Bath. Me,
Crescent Shipyard and the Samuel L. Moore az
Sons Company, EiZabethpoTt, y. J.; Eastern
Shipbuilding Company. NeW-LondOn, Conn;
Harlan e. HollingswOrth Company. Wilmington,
Del, and the Canada Manufacturing Company,
CRrteret, ~ J. The Bethlehem Steel Company
has also been purchased enabling the company
10 build battleships complete with armament.
aTTnor and all equipment. The company has an
authorized capital stock consisting OF S25,O0OOOO
common shares and S20Oto000 q per cent non
cumulative preferred shares. There is issue
of SlboeOeyO series 4 first mortgage bonds OF
which 81. 100000 are in the treasury They are
secured By first lien the plants named lex
oept the Bethlehem Steel Company appraised
Al more than S2O.oo0.e00. There are also col
lateral and trust mortgage bonds amounting TO
$4,000 600 accrued by the deposit Of SIS 600 0U0
% stock and Sl0ee0000 OF Bethlehem Steel
Company bonds. and by "A second mortgage lien
on al the remaining companies OF the shipbuid-
Ing company Lewis Nixon IS the president and
general manager OF the company.
The Trust Company Of the Republic has its
main office at No. 346 Broadway. It's directors
Include Perry Belmont. Charles +. BROKER,
George c. Boldt W. y. Baldwin Thomas F.
Crimmins Daniel lie Roy Dresser. James II
i5ckels. Stuyvesant Fish Alexander Cireig
Thomas F. Goodrich, George ]. Gould. Erastus
. Knight, Ballard Mccall. James Mcmahon.
l,harles y. Marvin, John n Parker, Henry c.
Rouse. r. WaveTly Smith Herbert L Satterlee
Elbridge G. Snow. Charles Is. Wetmore Daniel
-. Wing and Edwards Whitaker. SIR Dresser.
president, Is in Europe.