The Ladysmith news. [volume] (Ladysmith, Wis.) 1905-1905, 1905-04-22
TO CARRY OUT HILLS PLANS.
distribution of Northern Securities.
Stock to Be Effected.

Stock to Be Effected.
Trenton, N. j., April 20-The North.
ern Securities company yesterday
filed with the secretary of state arti-
cles providing for the reduction of it's
capital stock from 1896, 100000 to &c..
$4,000. The new capital is just l per
cent Of the original outstanding CAPT
tai.
Accompanying the papers, and as
part thereof, is a resolution of the
board of directors providing for the
reduction of the capital stock and the
giving to the stockholders stock of the
Northern Pacific and Great Northern
companies in return for the surrender
of 80 per cent of their holdings of the
stock of the Northern Securities COM
pany.
Exchange of Stock.
1t lis provided that for each share of
stock of the Northern Securities com
pany of the par value of 500 each the
stockholders shall receive stock of
the Northern Pacific road of the par
value of 1927, and stock of the Great
$3O.17.
The certificate sets out the resolu-
ton adopted by the board of directors
on April Fl, 1904, providing for the re-
duction of the capital stock and the
distribution of the stock of the North
ern Pacific and Great Northern rail
ways, two of tn, surrendered holdings
of the Northern Securities company.
This is really the final distribution
that was attacked in the courts by E.
Fl. Hartman, thu suit finally termina-
ting in a victory for J. j. Hill and the
interests which he represents.
Stockholders Consent.
The New Jersey corporation avs
provide that increase or decrease OF
capital stock must have the consent OF
the stockholders of two-thirds OF the
company's outstanding stock. Accom-
panying the certificate filed yester-
day is the consent of the holders of
stock aggregating $294,474,000.
Among those who have given their
consent and the number of shares OF
stock held by each are:
]. J. Hill, $4,000 shares; John S.
Kennedy, $4,000; Lord Strathcona,
1AS,5 500; Moore & Schley, 1910; Al
bert Smith, 5O,245; John w. Sterling,
44.863; Charles Arthur Ellis, 35,387;
Lord Mount Stephen, 1884; Samuel
H. Miller. 1881; John w. Sterling,
trustee, 1912.
To Paw Back Dividends.
New York. April 20-In circular is
sued late Yesterday the Northern Sc
curities company requests stocnnold-
ers to deposit their shares without de-
Law and announces that Immediately
upon transfer to the books OF the re-
spective railway companies, Northern
Pacific and Great Northern, back divl-
dends amounting to per cent in each
company, will be paid. 1t is also stated
that no dividends had been declared
nv the Northern Securities company
since that of Feb. 1, 1904.
Break i'm Prices.
A violent break in the price OF
Northern Securities in the curb stock
market yesterday awakened the fears
of a forthcoming disappointment of
the many speculative hopes built on
the plans for the dissolution of the
company. The stock sold at 181 at the
opening, compared with 189 Is as the
closing price the previous night. 1t
then appeared that there was no. sup
port for the stock, and sellers offered
it down to 165 before meeting effective
buying. A rally of over ten points fol-
lowed. st. Paul broke 2 So and Union
Pacific 2 3-8 on the stock exchange in
sympathy. 1t then rallied 2 and l-S
respectively. At the close Northern
Securities was quoted at III bid and
iii IL asked.