The daily morning journal and courier., 1905-04-07
LOCAL FINANCIAL NOTES.

New York, New Haven and Hartford railroad dividend checks were distribu- ted on Saturday. The stock during the week has sold from POI to POP 1-2, clos ing at POI 1-2 bid. southern New England Telephone company's books closed on Saturday for the usual quarterly dividend of l-2 per cent, payable April 15. The same dividend was also declared on the New York and New Jersey Telephone com pany, payable on the same date.
 Atchison railroad rights expire on April 8. They have sold at 1-2 per cent. during the last week.
 The rumor of the increase of the cap ital stock of the Security Insurance company of this city was rather prema- ture, though it is understood that the larger stockholders favor the increase of the capital from s4O0,00O to $5Oo.OOO, as this would strengthen it with policy holders, and it is quite likely that the increase will come out some time dur ing the summer.
 Stockholders of the Pennsylvania railroad of record of April F may sub scribe from May 1 to May 5, at par, for \ convertible 1-2 per cent. bond to the extent of one-third of the par: value of their stock. These new bonds will be dated October 2, 1905, payable October 1, 1915, with coupons June land Deeen- Der l, the first coupon being for only two months interest. Subscriptions are payable in two installments of fifty per cent. each, the first at the time of subscription, the second from Septem- Der 18th to the 30th. Interest at 1-2 per cent. is allowed on the installment receipts and payment in full can be made at the time of subscription if de- sired. Receipts will be exchanged for bonds of the denomination of $500 and $1,00o from September 25 to December 30. Receipts unchanged at the latter date twill be redeemed at par and in- terest to October 1st only. Bonds can be converted into stock after December 1, 1905, at the rate of seventy-five dol- lars per share, equal to 150 per cent, New York quotation. The present con- vertible 1-2 per cent. bonds are selling about 105. Should the money market continue easy it is expected that the re- ceipts on the new issue will be worth about 1 1-2 per cent. The stock will have to sell at about 155 per cent. to make the convertible clause of value.
 The time for depositing Herring Marvin Safe company stock under the plan of reorganization has been ex- tended to April IA. More than a major ity of the stock has already been de- l posted.
 Dividends soon due are:
 American Chicle, per cent, payable April 20; books close April A., l American Chicle preferred 1-2 per cent. payable April l; books closed l March 2S. '''
 American Locomotive preferred, i S-4 per cent, payable April 21; books 4 closed March 31.
 American shipbuilding preferred, S4 per cent, payable April 15; books close April 5.
 American Smelling & Refinery, IA per cent, payable April 15; books closed April 3.
 American Sugar, 3-4 per cent, paya- ble April 3; books closed March 4.
 American Sugar preferred, 1 S-4 per cent, payable April 8; books closed March 4.
 American Woolen preferred, 3-4 per cent, payable April 15; books slosed April i. e. >-~
 Boston & Maine, 3-4 per cent, pay able April |; books closed March 1.
 Boston & New York Air Line, per centy payable April 1; books o'osed March 20.
 Boston & Providence, 1-2 per cent, payable April i; books closed March 20. Chicago, Rock Island & Pacific 2 per cent, payable April 4; books closed March 29.
 Chicago, Milwaukee & St. Paul, 1-2 per cent, payable April "A; books closed March "A. .4' N ! Chicago, Milwaukee & St. Paul pre- ferred, 8 1-2 per cent, payable April "A; books closed March 24.
 Cumberland Telephone, 3-4 per cent, payable April 1; books closed March 2S. ,. ''s rr-%' t. - IT, -2. *r@-'..
 Delaware, tLackawanna & Western, 2 1-2 per cent, payable April 2o; books closed April 3. ..s.. :; .t-.4v. !~
 Denver Union Water, per cent, payable April 10; books closed March 2i. .., t.;-.,- ys.- f.-.-s.tg- .,--v. .,,.'
 Edison Electric, Boston, o 9 1-2 per l (Continued on Eighth Ptge).