The daily morning journal and courier., 1907-09-26
AS GO. ACTS ON
 ITS DEBENTURES
 Erectors Vote to Convert One Million Dollar Issue Into Stock. |[ME OF CONVERSION FIRST OF OCTOBER |ears Way for the Future Development of the
 Company's Busi-
 ness.

lA matter of much interest to the Bckholders of the New Haven Gas 4 yht company and particularly to the lders of the outstanding convertible benture bonds of the company is an aouncement by the company that Sse convertible debenture bonds are z be exchanged for stock of the com 1y on and after October 1. Action this end has been taken by the di- tors of the company. The meeting l which the vote was passed was d the day before yesterday.
 in accordance with the action of j directors stockholders may leave Fir debentures at 80 Crown street at N time on or after October l and a seipt for the bonds will be given, Sich later will be exchanged for a Stifcate of stock,
 2nterest on the debentures will cease A AOctober 1.
 @Each $100 in debenture bonds calls # four shares of new stock on which # #sumably per cent will be paid zlt being the present dividend. The &r value of the stock is $25 and #refore every four shares of stock Us for $S per year in dividends, the &per cent. being on each $100 of Eek. Presumably, also, dividends gin to take effect on the new stock i'm the date of Issuing the receipt in &hange for the bonds.
 zfhe capital stock of the company i be when the bonds are all con- \ Eted $9,O00,0OO, instead of $2,O00,O0O In Eek and $1,000,0OO in convertible de- 4lture bonds as at the present time, Il he debenture bonds in view of their T *vertible character and the prospect
 t the conversion would be at a #nparatively early date, and not de- red until the expiration of the hds some years hence, have kept
 quotation of the converttbles at 8 2 pdsome figure They were quoted
 ore the big drop in theStock mar.
 at 180. The quotation of late ha: y In at or about 160. The stock was Z bted at 51 or 52 after the issue o1
 convertibles, but since the depres. h in stocks the price has been quot.
 several points lower. At 50 for the
 ok the price is equal to 200 fol
 elk whose par is 100.
 The Gas company's obliterating oi
 ding it's bond issue into stock Bes the presumption that further
 plies of new cash will be required < the not distant future for further
 elopment of the company's large
 increasing business. On inquiry
 Is learned that no new plans foI
 further development of the com by other than those heretofore out
 pd are contemplated at present
 is known, the company has com
 ted its extension to Branford
 lch is an important one, and has z extension at Short Beach we'll ad-
 ced toward completion. It has
 it's extensions to Milford and
 eshire to complete, both of these
 ng important
 E With the conYertibles out of the
 the road is clear for the compa.
 whenever the necessity arises, tc
 le more bonds for improvements
 company has already the power 2 horized by the legislature, to in.
 ase it's capital by half million
 plant of the company, it is stated
 the company's office, is now 1T Z endid condition owing to the vas 2 provements made with the funds ained by the issue of the debenturt sds which are now to be converted