The Birmingham age-herald., 1907-10-08
y, M interest paid M on Savings &
 Rs!,l Time deposits
NEW STOCK ISSUE
 BY TENNESSEE co.
CHAIRMAN OPPlNA WILL RAISE $3,75o,oo0 FOR COMPLETION OF WoRK-PREFERE GIVEN TO OLD STOCKHOLDERS

The Tennessee Coal. Iron and Railroad to subscribe to a new capital issue of 121s per cent at par, says the Wall Street Journal The proceeds from this new issue of stock, amounting to sS.150,0O0, will be used To carry out the plans of the present owners and management to com plete the new construction at present nearing completion. and further improves ments contemplated for the year 1908.
 It is officially stated that the new issue stock will complete the financial plans of the management for the year 1901-0s, and that the success of the new stock issue has been fully assured by the larger stock holders or controlling interests subscribe
 ing, not only for their full allotment of the new capital issue, but they have agreed to underwrte the rights of other stockholders that may not be exercised. at par without commission or cost of any kind to the company. This is trans action entirely unique in industrial hnane- ing, and one that would seem to suggest the great confidence of the owners in the company's future.
 If any question has heretofore existed as to the intention or ability of the pres ent owners to develop the great mineral holdings of the Tennessee company, none now, perhaps, exists.
 The official circular of Chairman Top ping to the stockholders is as follows:
 Stockholders of record on October i0. 19O7 are hereby given the privilege, to expire at o'clock, D. m., on October l5. 1907 of subscribing for new stock equal at par to 12h per cent of the part oe stock held by them. respectively, at the price of slOo per share. payable as fol- lows: Twenty per cent on subscription. 20 per cent on December l6, 1907; 20 per cent on February IT, 1908; 20 per cent on April 15, 1908. and 20 per cent on June 15 1908.
 The stock transfer books of this com pany will be closed at the close Of bus- ness on October 10. 1907. to remain closed until November l. 19O7
 Stockholders may exercise the rights at taching to all or any of their shares and may assign the rights attaching to all or any thereof.
 SuDStiiDiiouS anu dSSi5liilleiA uiuSl us made upon forms provided by the com pany and must be delivered at it's office. No. 115 Broadway In the city of New York, before o'clock, D. m., on October 15. 1907 Subscription certificates will be issued upon payment of the first instalment of the subscription price. They will provide for payment to subscribers or assigns os interest upon partial payment at the rate | of per cent per annum.
 Stock certificates will be delivered on June 15 1908. upon final payment and surrender of subscription certificates at the said office of the company; provided, however. that for fractional shares of stock there will be delivered only scrip exchangeable for stock certificates when presented together with like scrip aggre- gating s100 or a multiple therof. Subscriptions must be accompanied by check or draft for the first instalment of the subscription price. All payments | must be made by check or draft on New York Forms for subscriptions and as- signments may be had at said office of i the company