The Providence news. (Providence [R.I.]) 1891-1906, 1904-02-27
HOT Time
IN SILVER
COMBINE

New York. Feb N-rhe stockholders OF
the International silver company are get
ting full and sufficient notice that the an
nual meeting OF the company on March
"A is not expected TO be a love feast. III
would be a break I'm the company's his
tory II II were.
The International Silver company was
organized I'm 1895 to combine most OF the
manufacturers OF silverware and silver
plated ware in Connecticut and one or
two outside OF that state. There have
been one or two attempts heretofore TO
wrest from the organizers the control or
the corporation, which Is native or Jer-
sey.
Early this week holders OF the preferred
stock got q circular from Thomas Nevins
& Son, bankers at * Wall street, widely
known as having controlled large street
railroad interests I'm Western cities, which
opened thus:
Dear Sir-As n stakeholder OF the In
ternational Silver company you are doubt
less aware Of the market conditions OF the
securities OF the company, particularly OF
the preferred shares
PRACTICALLY USELESS.
Upon the issue OF additional preferred
stock last year both the common and pre-
ferred stock OF the International Silver
company were stricken from the New
York Stock Exchange and since that time
have not been dealt in regularly any
where.
"The company has made no effort 20 re-
nstate the stock and this has occasioned
/ the holders or the stock of the company
desiring either 10 sell their stock or 20
make the same the basis OF Loan n
/ great deal OF annoyance only nominal
/ quotations can be procured upon the
stock.
This letter Is sent at the request OF GER
! tain OF our clients who are interested
! in the preferred stock Of the Information
/ al Silver company who are desirious of
having more active and better market
for the preferred stock OF the company.
so that II will be given more stability
! and thus put the holders Of such shares
ia a position to fnd n market for them
| and to give them some fixed value as a
basis for loans. At present they are
practically useless as collateral.
PRESIDENT on I'D
IT was this blank which seems to have
| caused a commotion in the breasts Of the
stockholders OF the International Silver
company The clause authorizing the
Eastern Trust company to sell reads:
II hereby authorize you TO transfer to
your name said certificates, with power
to sell same to Thomas Nevins & Son OF
their assigns at any time between now
and the first day Of July. 1901. and 10
act I'm cooperation with said banking
| house"
Soon after the receipt OF the Nevins
circular stockholders received another
this one from the company. IL read
thus:
ANY stockholder OF the international
Silver company who deposits his stock
as per the circular recently issued 10y
a Wall street house virtually places his
interest i'm the hands of unknown parties
for voting purposes at the annual meet
ing to be held March "a, 1904.
III you are unable 10 be present al
the annual meeting TO be held Marcf
"a. 1904, we suggest that you sign the
attached proxy filling in the name oi
some party who viii make II a point tc
be present and whom you know is in
terested in honestly trying TO protec
the interests Of the stockholders only
"INTERNATIONALS SILVER co.
SAMUEL DODD, President