Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-02-05
LOCAL FINANCIAL NEWS.

The bid for Greene Copper at today's
meeting of the stock exchange advanced
nearly half point as compared with the
bid Of yesterday. The bid was 81 and the
asking price half point in advance There
were no transactions in the stock. In New
York today the stock sold up to 81A.
The better prices for this stock 10 attrib-
uted to the understanding that an agree
ment has been reached for the absorption
of the Greene Copper and the Central
Cananea companies into the Greene Cana
nea Co., the latter as a holding company.
The basis of the merger Is stated to be
determined at a meeting to be held the
middle Of the present month OF the d.
rectors of the Greene and the Central COM
panies. For every share Of Central Cana
nea stock, It Is stated, one and three-quar-
tiers shares Of Greene Cananea Is to De Is
sued, and for every share Of Greene Cop
per one and one-half shares OF Greene
Cananea.
The first transaction in the stock OF
the Merchants and Mechanics Savings
which was listed on the exchange yes
terday. occurred at the meeting TO-DAY
when two ten-share lots sold for h. The
bid at the close was 12K. with no OF
fering.
No quotations were made in the case
Of the stock Of the Washington, Aiexan-
pany. which was listed yesterday. as It
was felt that the members OF the ex.
change were not sufficiently Informed
III regard to this security to either Did
For the per cent bonds. of which the
| amount outstanding, namely. $l.SOO.O00,
was listed yesterday. today a bid OF 100
| was made. and the asking price was
bonds are callable at ITO. The capitai
stock amounts to 81 100000, and on this
stock divident of l per cent was declared
payable January last. 1t Is stated that this
dividend was not made as semi-annual
or any fixed dividend, but merely as
disbursement of the surplus revenues.
The officers and directors of the company
are as follows: President, Clarence P. King
vice president, H. H. Pearson. jr.; secretary
and treasurer. ]. w. Pittock; transfer
adelphia; directors, Clarence P. King. II
H. Pearson, jr., Howard 8. Graham. s. w
Foulkes, Edgar H. Butler, F. H Treat. r.
Agnew and F. Mertens.
A second edition of the useful handbook
of local securities known as washington
Securities" is now in press and 1t Is expect
ed it will be ready for distribution some
| time next month. The editors, Thomas L.
Hume and Eugene E. Thompson, brought
out the first edition of this work in the
year 1905. and the fullness as well as the
accuracy Of the informa ton which made
that handbook Of so much value Is assured
in the case of this new ISSUE
The American Telephone and Telegraph
Company, the successor of the American
Bell Telephone Company and the owner OF
shares of capital stock in about forty COM
panies operating in this country and In
Canada, including the company In this Dis
trict has announced the issue of $4,000 900
convertible 4 per cent bonds, part OF an
issue limited to $150,OOO,OOO.
These bonds are. at the option Of the
holders. convertible at par into stock at
$40 per share after March 1, 1yvJ. The
funded debt of the company consists OF
$7S, 600, 900 collateral trust per cent bonds,
of which $50, OO0. 600 is outstanding and the
balance is deposited security for the
issue Of $2O,O0OOOO per cent notes.
There are also outstanding 2o,OOO.OOO
per cent notes and $10O00,OO0 per cent
debentures, the former maturing in 1910
and the latter In 1903.
The authorized capital is $250,OOO.OOO, OF
which $131. 351. 400 is in the hands OF the
public Dividends are paid at the rate of 8
per cent per annum.