The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, 1904-11-11
NOTE BOOK SKETCHES



The prolonged Indian Summer wealth
er this fail has afforded the tobacco
growers an abundant opportunity to
clear up the usual farm work in advance
of other years at this date, so they will
be ready to turn their attention to han
ding the tobacco crop much earlier than
most other seasons. The crop is so COM
pletely cured down that it can be safely
removed from the polls and the coming
of the first good casing weather will
probably see quite liberal portion of
the crops taken from the sheds and
stripping commenced. Such a large
portion of the earlier tobacco has been
contracted for in advance and purchas-
ers are anxious to commence warehouse
handling, that growers who have sold
will have another incentive for early
stripping in that they desire to handle
the proceeds of the crop at the earliest
possible date Growers we'll understand
that their tobacco weighs most when ii
can be marketed soon after stripping
Then again, the experience of last season
when growers allowed the fall casing
weather to depart had to wait until late
in the spring before they were able to
take down their crops, find another rea-
son for taking advantage of the earlier
opportunity for handling the crop. I'm
der all these circumstances the indica-
tions point to an earlier handling of the
crop from the sheds to the warehouses
than for some years past.
*Xm
The splendid crop of tobacco that has
been raised this year in New England is
not by any means to be credited to the
favorable weather alone. Methods OF
fertiliZing, planting, cultivating, harvest
ing and curing have all been improved
from year to year, and the progressive
ness of the growers is indicated in the
crops. In advanced methods, effective
ness and economy of agricultural opera
tion, attention to crop details, intelli
gence of labor, completeness of equip
and shed the growers of New England
lead the world. New England ways are
being followed everywhere in leaf to-
bacco culture wherever an interest is
taken in improved fertilizers or improv.
ed machinery And the reports of the
Connecticut State Experiment Station
on tobacco fertilizers are an authority
throughout the world. N. E. Tobacco
Grower.
According to the gossip of Wall street
the reorganization of the Consolidated
American and Continental Tobacco com
panies, which is being carried on through
the agency of the Morton Trust Co., is
one of the biggest operations of it's kline
in the amount Of clerical labor and book
keeping in the history of American
finance. The total value of the securi
ties to be received for conversion into
stock and bonds of the new American
Tobacco Co. is 1868, $685. 300, while the
amount of the new securities authorized
will be about S393,OOO,OOO. The latter
however, includes $180,OO,OOO in common
stock of the new company, of which only
about S4O,242,450 will be left in the
hands of the public. The amount o1
work involved in signatures, veritication
different forms of bookkeeping and reg
istration can perhaps only be appreciat
ed by the trust company officers who
have been through similar operations
Five different kinds of certificates will
be used in receipting for the old stocks
and bonds surrendered before the new
and final securities are issued and deliv-
cred to the owners The number of sig
natures alone required to these dOcu
ments and the work involved for the
higher officers of the company-Vice
Presidents Allen and Corbiers and Sec
retary Francis-as we'll as for the cleri-
cal force, is almost beyond computation
Taking the four per cent. bonds alone
of which the amount outstanding is
$157, ,378, 200, if each bond for ST 900 came
in separately the signatures required on
the receipts would he 157,378. At six
signatures per minute, making 800 per
hour working day of seven hours oi
steady work without interruption would
permit the signature of $500 receipts
At this rate a month of twenty-five days
would permit the signature of 81, 800 re
ceipts, and the entire job would be com
pleted in about two and half months
This would represent only small part
of the signatures required, however, fol
it does not include about S206, ,000,0 600 in
the common and preferred stocks of the
different companies, which, if signature
were required for each separate share ot
500, would call for 100000 signatures
and would involve the labor of one mar
for nearly three years. Fortunately the
bonds and stock are held in large blocks
so that one receipt will often cover
thousands of dollars.