The daily morning journal and courier., 1907-04-25
STORY CROPS UP AGAIN.
That the New Haven Will Absorb the
 Boston and Maine

That the New Haven Will Absorb the
 Boston and Maine
 Boston, April 24-The Boston News Bureau says to-day; Notwithstanding possible denials from Boston and Maine and New Haven sources the inevitable result of the aggressive policy of ex- pansion and development inaugurated in the New Haven road a few years aog will be the acquisition of the Bos- ton and Maine by the New York, New Haven and Hartford, and the formation of practically one continuous trunk line from Vanceboro and Passport, Me, on the far northeast, and New York on the southwest. This is just as inevitable as was the absorption of the Fitchburg railroad an dthe Boston and Lowell by the Boston and Maine, or the absorp- tion of the Old Colony railroad and the Boston and Providence by the New | York, New Haven and Hartford The financing of the New Haven of the purchase of the control of the Bos ton and Maine would be comparatively an easy matter. The credit of the com. pany Is the highest and it has cash assets at command sufficient to meet all the needs such a trade would in- involve. To put such a trade through the New Haven would not be obliged to call upon Wall street or any other financial center for new funds. Last July it has S16,O0O,OO0 marketable secur- ities in it's treasury, a large part of which has already been turned into cash. During the past winter 1t has sold $26,O0O0O0 notes. It has floated abroad loan which will yield s27,O0O,- 000 The president has at his command $S0,000,000 stock issue, which would yield $45,OOO,OOO The sale of the New York, Ontario and Western would yield $4,000,000 more. The disposal of the Park Square station, which is imminent and may form part of the quid pro quo barter with the Vanderbilt interests. would yield $5,00O 900.
 The sum of these figures is interesting viz; $l820O0,0OO. Obviously the actual and potential cash assets which the New Haven road has in sight this year exceed $1S0,oOO,000 Less than $50 GOO, 900 should pay all the improvement and extension bills of this fiscal year. The balance remaining would be something like $S0,O0O,OOO and would finance the Boston and Maine purchase with mill lions to spare
 There is reason, however, to believe that Boston and Maine can be had on an per cent. guaranteed dividend basis or it's equivalent. The New Haven could afford to pay 1t and the Boston and Maine stockholders would be entitled at this time to no more The purchase of control of the Boston and Maine by | the New Haven would doubtless be the | biggest boon New England industrial interests have had in years.
 The Evening Post says: There was much talk regarding a reported plan whereby the New York clearing house banks will discontinue the payment of Z to 2l-2 per cent interest on balances ot out-of-town institutions. This mat ter IS brought home with some force to the New York institutions, because at times they can get only 11-2 or 1S-4 per cent on funds held subject to can. The question arose as to how far coun- try institutions would draw down their balances if all interest allowance was stopped"
 New York, April 24.-The securities of the International Mercantile Marine were to-day admitted to list ng on the stock exchange. They were: '52, 744OO0 of 4 1-2 per cent. mortgage 1 md collateral trust bonds, $51, 731. .OO0 of / per cent. cumulative preferred stock rust certificates, $49,921, 800 of common stock trust certificates, and $19,61S, 900 ] if International Navigation company : irst mortgage sinking fund 5 per cent. f( coupon bonds. The company was en- powered to add to the list from time to : ime, but prior to November 1, 1907. These other securities were also ad- ( nitted to listing; National Railroad company of Mexi ( additional per cent. non ( umulative preferred stock, making the otal amount authorized to be listed ( 22, ,233, 300. The Wabash Railroad company--S86s,- I % additional first lien fifty-year 4 per I ent. terminal coupon bonds, making q he total amount listed to date $3,923,- C %.
 | Ingersoll-Rand company-$S00,O GOO ad- | itional per cent. cumulative prefer ed stock, making the total amount au- lorized to be listed $4,SO0,0OO. !L