The daily morning journal and courier., 1905-07-15
HALF A MILLION.
NEW ISSUE OF STOCK BY TELEz
 PHONE COMPANY.
Board of Directors Vote to Issue An- other Block of Five Thousand Shares -ORered to Stockholders at Par This Will Make the Capital Five NIil- lion.


 This Will Make the Capital Five SIil-
 lion.
 Another increase in the capital stock of the Southern New England Telephone company is about to be made, which will bring the capitalization up to s5,- 000,000. The proposed increase will be five thousand shares. The action of the directors of the telephone company was taken at a meeting held last Monday and has been anticipated by the stock holders in view of the policy of the di- rectors during the past few years of making the increase semi mi-annually. During that period the stock of the company has been increased from $s,- day.
 The proposed increase will bring the capitalization of the company up to the limit authorized under its charter rights granted in 1882. The present general assembly, however, granted charter amendments which will enable it in the future to increase the capital to $l0'- 000,00
 In view of the general improvements that are going on, 1t is not unlikely that the company will continue to make the increases at the ratio it has been mak- ing them, However President Tyler Is not prepared to say definitely what &C., tion the board of directors will take re- garding future increases. He says that the needs of the development of the plant will determine what increases shall be made. .... ..A
 Victor M. Tyler, secretary of the com pany, yesterday sent out to the stock holders the following circular explain ing the new stock increase: -,sg
 By virtue, of q vote of the directors of this company, passed at a regular meeting of the board of directors held at the office of the company on the 10th of July, 1905, the treasurer of the com pany makes the following statement and offer to the stockholedrs of record 18th of July, 1905: Q Tt is proposed to increase the stock of the company by adding 5000 shares outstanding 45,O6O shares of capital stock, making the total issue to- be 50,000 shares, or $5,000,000. These. ad- ditional 5000 shares are now offered at par to all stockholders of record on. the books of the. company, 15th Of July, 1905, in the proportion of one share of new stock for each multiple of nine shares held by them. .. X
 Subscriptions for the additional stock must be made on blanks furnished by the treasurer. and presented to the treasurer on or befor ethe close of bus mess, or 8 p. m., August 8. 1905. . s
 Payment for such stock 80 sub scribed must be made to the treasurer at his office in New Haven at the rate of $100 for each share on or before the 18th day of August, 1905. The stock 80 taken and paid for shall share in the October dividend of the company, and certificates therefor will be issued at once, or as soon as may be after the full payment of subscriptions
 The company will not issue fractions of shares of stock. and will neither buy nor sell fractional rights to subscribe to such additional stock. but will rec ognize any legal transfer of such rights" ,1 h The company has planned for exten- siye improvements under the new stock issues. Throughout the state new lines are being constructed and the company is acquiring property of its own In the cities. One of the most important im- provements now under way is the build- ing of an underground system of con- duits through the state for the trunk line wires. The American Telephone and Telegraph company has already started in with this work at the west ern end of the state. and the Southern New England is at work on the prelim- mary plans for continuing the, building of the conduIts from Greenwich to the eastern terminal of It's lines on the route to Boston.