The daily morning journal and courier., 1903-06-15
LOCAL FINANCIAL NOTES.

New York. New Haven & Hartford railroad stock has been in demand in small lots by the investors who buy for cash. The price has advanced during the week from 194 to 197 1-2, with very little stock offering. The recent in- crease was all taken by actual investors who hold for income and not for specu- lation.
 Swift & Go. has declared the usual dividend of 3-4 per cent, payable July 9th, for which the transfer books will close on Saturday of this week.
 Security Insurance rights expire to- day. Nearly all the rights were taken by the present stockholders and very few at any time have been on the mar ket The new stock is payable in full July 20th. This increase adds to the capital stock 2,5OO shares of $40 each, which make the total increase $100,000 and should strengthen the confidence in the company of the policy holders.
 Pennsylvania railroad rights sold from Is to 1 5-8; subscriptions are to be from to-day to June 27.
 Edison Electric rights have advanced from 3 34 to 4 1-4; the stock selling from 24O to 25O, closing PAS to 249.
 Swift & Co. has sold during the week at 102, closing at 1O9 1-2.
 The stock books of the New Haven Water company close to-day for the semi-annual dividend of per cent, payable July 1st.
 Hartford & Connecticut Western railroad first mortgage per cent. bonds issued July 1, 1888, to the amount of 100000, will be due July l, 1903; holders of the bonds are asked to extend them for twenty years at 1-2 per cent. in- terest. Assenting holders can present the bonds at the office of the company and have forty new coupons attached, coupons to be payable January 1, July 1. Since this mortgage was issued the road has been leased to the Central Railroad of New England until August l., 194O, the lessor paying interest on the bonds and guaranteeing dividends l of per cent. on the stock; the stock issued amounts to $2,712SOO. The pres ent issue of bonds is only at the rate 1 of S6,2O0 per mile, and the smallest is- | sue per mile of any road in Connecti- cut. The first and only dividend fo1 many years on this road was i 1-2 per ! cent. December 1, 1882. It will be re- | membered that this road was built in l 1870, largely by Hartford capital with mortgage issue of something over 1 $2,0oO,000 represented by per cent l bonds, which were negotiated in Hart. | ford by George F. Bissell & Co. and il7 | New Haven by Edward S. Scranton & l Co. The enterprise proved an almost
 total failure, not being able to carr quite enough to pay expenses. The
 bonds soon defaulted and the road was 1 reorganized under it's present title The
 z per cent. bond holders after waitins five or six years received for each S1, ,O0(
 bond six shares in stock and S9 in cash 1 This is the stock which since 1890 has
 been receiving 2 per cent. per annum
 The extended 1-2 per cent. bonds vii l be non-taxable in Connecticut, though
 not suitable investment for savings banks and trustees. as the investmen
 law requires that a railroad shall have
 regularly paid dividends for at leas
 live years on it's entire capital stock a
 not less than per cent. per annum tt
 make it's bonds a legal investment fol
 the savings banks of Connecticut.