The daily morning journal and courier., 1903-06-01
LOCAL FINANCIAL NOTES
CONSOLIDATED E. F. RIGHTS EX-
 FIRE TO-DAY.

How to Properly Finish Up and When
 to Pay the InstaIImenta-FIrst sIOrI-
 gage Per Cents on Main Line of s2,- OOO, 900 Due and Payable To-day Interesting Facts.
 New York, New Haven and Hartford railroad rights expire to-day. All transactions to-day are. in brokers terms. for cash and both the rights and subscriptions must be in the office of the company before the close of busi- ness to-day: attached to the subscrip- tion paper must be a check for the first instalIment of $50 per share; the second installment will be $40 per share, Au- gust 1; the third installment will be $40 per share. November i, and the fourth and last installment, s45 per share, Jan uary 2, 1904. Any or all of the install- f1aents can be paid to-day, and interest on all payments made will be allowed from June 1 at the regular dividend rate: interest on these installment re- ceipts, however, will be paid in one sum only on January ?: whereas holders of regular stock certificates get dividends June 30 and October 1. Rights have re- gently sold from ST 1-2 cents to $1.25, closing at s1. The Boston market has bought these rights rather more freely than the local Of New York markets. The stock has sold from 19O to 191, clos ing at 190 1-2.
 The first mortgage per cent. bonds secured by the main line from Williams Bridge to Springfield, Mass, are due and payable to-day; the authorized mortgage was for $5,000,000, but only S2,000,000, known as series A, were is- sued. The bonds were all registered, no coupons being printed, and in de- nominations of $1,000 and $5,000. They were signed by George H. Watrous, president; w. L. Squire, treasurer, and countersigned by Frank D. Sloat, comp troller of the state. In 1881 no railroad bonds had been issued at as low rate of interest as per cent, per cent. and 6 per cent. being the ruling rate. The Northampton railroad in 1879 had issued $1.200,000 6 per cent. bonds not being able to float an issue at a less rate. Some doubt was expressed in 1881 by financiers and bond holders as to wheth- CT thes4 per cent. issue could be placed with investors except at some discount, but the whole issue was awarded to w. T. Hatch & Sons of New York city at a small premium. and this house suc- ceeded in few months in placing all the bonds at from to per cent. prem ium. They were aided by the rising tide of prosperous business which followed the resumption in 1879 of specie pay ments. Since 1881 most of the leading railroads of the country have placed at par bonds bearing both and 1-2 per cent. interest. thus largely reducing a part of their fixed charges.
 Pennsylvania railroad rights are quoted at 2 to 2 1-4.
 Security Insurance rights are scarce at S3 to s4.
 New Haven Water company stock is offered at 122 1-2; New Haven Gas Light company at $69.
 Hartford Street Railway bonds and those issued assumed by the Fair Ha- ven and Westville R. R. are now a legal investment for trustees and savings banks in Connecticut; the floating sup. ply Of these bonds is very small and this legislative act really enlarges the scope of investments for banks but very little.