New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-09-12
NAY LOSE ss.00O,O00.
Syndicate Which Tnd6rTrote L. >.
ReaEtg Corporation DissolUed.

at-,c.. without execution every banking synoi-
cate which has underwritten the large new m
eustrisl concerns which have been nosted here IA
tho last few wears have made money. 30 II
GRATED some interest IN Wall Street yesterday
when q announced that the Hailgarten syn
dioste which advanced sliooo0o cash 10 merge
tho Fuller company and other building oonstruc-
fiou companies into the United States Realty
0o-poratton was formally dissolved. Hsllgarten
a Co the managers sent out word 20 the mem
bers TO present their cerllhcates ~ participation
% ,he central Really Bond and Trust COMPANY.
srd receive the cash and securities 20 which they
Uere entitled n admitted by members n
tho syndicate thst IL would have 20 stand severe
loss and this Was estimated as high as %@ae@
The actual loss 81 course viii depend on al what
price the syndicate IS ahe 20 dispose n IT'S
holdings
r-nito6 States Realty preferred fell "a. points
carr, YESTERDAY and the rumor mongers having
exceedinglv short memories. began 10 circulate
oil kinds % yarns about the company little
before noon the announcement referred 10 was
MADE and Wall Street recovered from lis shiVers-
The common stock broke only half point. any
way. ano both 81 and the preferred recovered
before the close ~ business
According 20 tho original agreement. tho syndi-
cate vas - continue until November J. II was
formed about wear ago by Halgarten & Co,
re members bepg. besides the banking firm
--s-,ed the Equitable Life. Mutual Life, National
Ctv Bank Central Realty Bond and Trust COM
r-rv Central Trust COMPANY Charles NJ SchWao
and other United States Steel interests. Each
member received. IL was explained yesterday by
p man in position 10 know. preferred stock IN
proportion ~ 20 and common stock ~ =.
holder 70 the amount $4,000 received 100 shares
- preferred on basis of %. and 100 Of common
stuck on basis - = Those IN the syndicate
soon after It's formation paid in % per cent o. their
surscrirtion in cash. ana later gave notes for 81
Tor cent q their total liability. making an %
,,er cent total ~ the entire amount paid in. In
rhe early part ~ September the hank which
Nnanced the undertaking fo~ an additional :"
usr cent sent the following letter 20 certain mem
hers az the syndicate. -.
and CONSTRUCTION Company stock 7c1ll thank you
% make Us payment on secount OF a9p. s o-. ,I 81
- s. IN order 20 place the loan On the customary
might be change IN conditions which TouIo rem
ds~ II unnecessart-
r vas said yesterday that attention vas paid
- this call b. most II those 20 whom II was sent
snd II vas hin'ed that this FASTENED. Il II aid not
Syirr about the dssolzing q the syndicate
According 10 an officer a the Central Realty
BOND and Trust Company the payments 10 sub
-~-ihers were on the following basis for each teo
cssh paid in N155 In preferred. SOP In common
sock and 81 s. in cash u is plain from this that
tho members VIII receive little cash and about the
only chance apparently they have Of approximately
evening Cd - hang 20 their holdings in hope
that when the usual fall activity comes they may
n ahls 20 dispose ~ them A. price sufficiently
shove the prevailing level 70 allow much smaller
loss than II they should dispose 81 their stock now
dcatc members were attempting unload at
The United States Realty and Construction Com
phich is preferred stock since its incorporation
- Per cent quarterly dividend the preferred
stock on = : per cert basis This dividend shows
thst the corporation is in q hourshing condition.