The daily morning journal and courier., 1907-09-30
FOR TIE LOCAL INVESTORS
NEW HAVEN ROAD STOCK
The Payments for New Stock Issue-s. N. F. Dividends
 N. H. 6 N. 6's.

N. r., N. II. & II. R. R. stock soIa on Saturday at TAO to Al, a very low fg- ure considering the earnings, prospects and physical condition of the property. The proposed issue of new stock to the amount of $29,27O,4OO par value seems to have alarmed some timid investors and the alarm has had some encourage ment from stock traders who are al- ways ready for a speculative chance to buy cheaply. This stock will not be- come full paid stock until July 1, 1909, unless holders decide to pay in full value.
 Holders during the month of De- cember will have right to subscribe on basis of one new share at s125 for each lot of four shares. Subscriptions and payment to be made on warrants which will be sent out about December 1st. Holders of convertible debentures may subscribe at same rate of $125 per share on basis of two shares for each lot of $500 debentures.
 Payments of new stock will be:
 25 per cent, Jan. 1, 1908, amount $9,- 147OOO.
 25 per cent July 1, 1908; amount, s9,- 147,OOO
 25 per cent. Jan. 1. 1909; amount, $s. 147OOO.
 25 per cent. July 1, 1909; amount, s9,- 1410O0.
 Which makes $S1.75 for each install ment on one share.
 Subscribers can pay in full Jan. 1, 1908, and receive full paid certificates if desired. This generation of inves- tors has not seen a better opportunity to subscribe for large established public service corporation, non- taxable and paying as good rate of income. At $125 per share. the rate to any hold CT during the month of November, the income is six and four-tenths per cent. net. The rights to make this subscrip- ton have no existence until after the meeting of October S0th; there have, however, been some agreements made to accept and deliver warrants when, if and as issued, on a basis Of two to three dollars for each old share. How the holders of coupon uebentures are to get their warrants remains to be worked out and announced by the company; but all holders of debentures and stock will share alike
 The Southern New England Tele phone books close to-day for the usual quarterly dividend of 1 1-2 per cent October 15, and on this date the fourth and last installment of the new stock will be payable; his stock was sub scribed last December, the first pay ment having been made January IS. We understand that over two-t thirds of the subscribers have already paid in full and received their certificates.
 Coupons from $1,200,00 N. H. & Northampton company sizes issued in 1879 will be paid tomorrow at the Ma tional Tradesmen's bank The princi- pal of these bonds will be due April 1. 1909. These bonds have always been a favorite investment with the local bankers, but latesyears have been very scarce. At one time they sold at 12O per cent. A considerable portion of the amount has been absorbed by the &C., tion of the sinking fund created at the time of issue They are now a first mortgage on the N. II. & Northampton railroad from New Haven to North ampton The portion of the road from Northampton northerly is covered by another mortgage of $500, 900 at 5 per cent, due in April 1, 1911. At the time of the issue of the sizes the road had a mortgage of $1,3OO,0O0 which came due and was paid January 1O 1899.
 Dividend checks of 2 per cent. were sent out by the New Haven Gas Light on Saturday night. The amount disbursed is $40,000
 Dividend cheeks of the Yale National bank, per cent, $15,OO0, and the New Haven County National bank, 8 1-2 per cent, $12250, are out to-day. All of the other banks of New Haven, ex- cept the First National, pay semi-an- nual dividends in January and July.
 The clearings and balances of the New Haven banks for the SIX days end ing September 2S, and for the corres- days of last year are given be- low:
 Clearlngs Clearings