New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-01-28
STRICKEN FROM LIST.
STOCK EXCHANGE ACTS.
Amevican Steel Foundries Securities
Ordered Removed.

A. tha close of a session OF the Stock Ex-
change governing committee yesterday AFTER
,,oon which lasted nearly four hours, for1naI
announcement was made by Secretary Mcclure
that on the recommendation Of the committee on
stock list the common and preferred stocks OF the
American Steel Foundries Company, Of which
Joseph E. Schwab is president. had been stricken
from the list OF securities traded in on the EX-
change. Efforts 10 learn from Mr. Mcclure and
from President Thomas Of the Stock Exchange
the reason for this action, which has had few
rrecedents, were unavailing. The only director
OF the company who could be found last night
was Max Pam, VINO declined TO make any state
inent whatever regarding the striking OF the
stock from the list.
One Of the large stockholders said that he
had known that the directors were purposing
70 apply for the listing Of additional stock, is
sued or about TO be issued. for the acquisition Of
certain new properties by the company, and
that possibly the application might have been
before the stock list committee which might
have found some irregularity 10 which it had
called the attention of the governing commit
tee. Another stockhOlder said that the irreg-
ularity had been discovered in the original
statement, on which the governing committee
on November 26. 1902, admitted the S15.500000
6 per cent cumulative preferred stock and the
Sl5O0OO00 common stock OF the Steel Foun-
dries Company to the list.
The American Steel Foundries Company
incorporated at Trenton on June 26. 1902. In
It's statement 10 the Stock Exchange under date
Of November O. 1902. Il said that it owned the
plant Of the Sargent Company. Of Chicago; the
plant OF the Reliance Steel Casting Company.
Limited, Of Pittsburg; the plant of the Frank
lin Steel Casting Company. of Franklin. Penn;
he MA NJ fta I'd
pany. Of East St Louis, H.; the plant of the
American Steel Foundry Company, of Granite
City, Ill, and q 900 of the Fiji shares Of
common stock and Il, ,1S6 Of the 1887 shares Of
preferred stock of the American Steel Castings
Company. owning three plants, known as the
Thurlow, Alliance and Sharon plants.
The American Steel Castings Company, II was
ADDED, also owned a plant at Norristown. Penn,
pany at 2.33G yearly rental The property of
the American Steel Castings Company, it was
said, was subject TO mortgage of 900. II
was certified in the statement that 'all the
plants and properties above stated as belonging
10 the American Steel Foundries owned
by IL, free and clear from all liens and encum-
frances OF every kind and nature whatsoever"
an estimate was given Of the total profits Of the
subsidiary companies, exclusive of the American
Steel Castings Company. which put them at the
annual rate of 81 ,2S2,:}OO.
In the report of the American Steel Foundries
for the year ended July 13, 1903, the net in
come Of these constituent companies, 10 which
was added that Of the American Bolster Com
pany. was stated At 81, ,5J6,953 DeductinG S23.-
5J9 paid interest on bonds, 500 dividends on
outstanding stock of constituent companies and
IA per cent dividends amounting TO $685.. 800
on the preferred stock OF the American Steel
Foundries there remained a surplus of SS}5, ,2O3.
The authorized capital stock of the company is
S40O0O.OOO. equally divided between common
ard preferred. The common stock in Decem-
Der, 1902 the first month IN which it was traded
IN on the Exchange. ranged between 10 and u.
IN 1903 il sold between %, on January - and
o1z, on December 4. This year there has been
only one sale, 100 shares at 3, on January Z:
ana the current quotation for the stock is , bid
asked. The preferred stock in December, 1902
sod between J0M and 40. Its highest price in
aaS15 was 691R, February s. and its lowest
90. on December 4. There were sold this month
10 shares at -. on January 30. and 100 sha res
a. oez, on January -. The preferred stock
S1s quoted yesterday at "a bid. AZ asked II
NsT paid II Per cent quarterly dividends.
me officers and directors Of the American
sest toundries. according 10 a recent list, are:
~ S[resslSert Joseph z. Schwab Cb-o.her Of Charles
-, SctnNao) first vice president, Daniel Eagan;
su se1OHu wee president, Clarence H. Howard; sec
y o--ty ana treasurer. Z. Z. Patterson: general
Ti; Toursei; Max Pam. Directors-Joseph L. Schwab,
80 a.'eI hegan. George 2. Leighton. W. K. Btxby.
= Lax X lam Leslie d. Ward, Edward Shearson,
.; Lhomas William c. Brown, c. Il. Howard.
= =. SoitTa, ". D. Sargent, Arthur J. Eddy,
rs AiNon s. R. Calaway, Charles Miller,
S,ss- y 81. ncnoonnaker. Donald II. Mann. Alfred
--O'o' howard X. Wood and X. X. McLaren.