The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-06
LOCAL STOCKS AND BONDS
FEATURE OF WEEK DIG ADVANCE
IN NEW TELEPHONE ISSUES.
sales for the Week Aggregate -. 900
Bonds, Par Value, and $50 shares of
Stock-Changes for the Week.

The net income Of the property Of the New
Telephone Company will be increased $4,000
year. approximately. by the extensions to be
made by the Indianapolis Telephone Company.
which Will be incorporated next week and will
lease the property Of the New company for
twenty years. Net income as used here means
income after payment Of operating expenses.
maintenance depreciation and taxes.
The net income Of the New Telephone Com
pany last year fiscal year ended Feb. 30 was
$4,000. All Of the companys stock and bonds
the entire year. and the interest
on its bonds and the dividends upon it's stock
amounted to only s5s.sef Thus, after deducting
these charges. the company had a surplus Of
little more than $4,000 from it's operations last
year These figures given out by officials
of the company yesterday.
The Indianapolis Telephone Company will real
ize Immediately after its incorporation from
sale of common stock to holders of the stock of
the New Telephone Company 100000 with which
it will begin extensions The indianapolis com
pany will sell to the holders OF the stock of the
New company 1900 shares of its common stock
probably the entire issue-for 100000.
half the par value
The company will also issue to the general in
vesting public 100000 of preferred stock besides
that TO be given a bonus TO holders OF New
Telephone stock.
The advance in the securities OF the New
Telephone Company the feature OF the local
securities market the latter part Of the week.
The announcement OF the organization of the
Indianapolis Telephone Company and that it
will lease the property Of the New Telephone
Company and guarantee the dividends upon it's
stock and the interest upon its bonds has had
very bulish effect upon these securities. and
Friday they advanced from to points on the
Stock Exchange. The stock is 81 now. an
advance Of points in day, and the tip is
out that the stock will go to par the coming
week.
The past week has recorded fairly large
volume Of business in the local securities
ket. and the tendency has been an advancing
one with the leading stocks and bonds. Sales
for the week aggregate sS7.O 900 bonds par value
and ass shares of stock. Including the sale of
block of twenty-five shares of Union Traction
preferred stock at Is yesterday by one Of the
Washington-street houses. the weeks sales are
as follows: $50 shares Of Abattoir preferred
stock at 1904. 20 shares Security Trust at 1OOlk
10 shares Union National Bank at 1O115 10
shares Union Traction common at g. 50 shares
Abattoir preferred 100. so shares Indiana
Union Traction common at 10 and 40 shares
Atlas preferred at 1O5lk. $1,000 Water fves at
loO11 $4,000 Gas skies at 1914 $4,000 Water
fives at 1O1. $1,000 Street Railway tours at s1A
5000 Merchants Heat and Light fives at 1O21l
5000 Street Railway tours at S0ls, $1,000 New
Telephone second fives at 81 and 1COO Indiana
Union Traction fives at IS. The leading changes
for the week include: Advances-American Ma
tiopal Bank. Y point, to 152; Capital National
Bank. point. TO 145; Street Railway, 9. point
to SCH; Union Traction common z point. to
33ia Water fves. y point, to 100; Security Trust
IL points. TO 1929 Gin ask price.) Declines
Atlas preferred. point, to 1O4; Belt common 1
point. TO Ill; Brown-Ketcham preferred. point
1O4. and Columbia National Bank y point to
10.