The daily morning journal and courier., 1907-10-07
FOR LEGAL INVESTORS IN GREATER DEMAND New Haven Road Stock at 142 Gas Co.'s New Bonds
 Value of the Rights.

N. r., N. H. & H. R. R. stock is in more demand from small investors who seem to realize that the low price of 14o, the stock pays about 3-4 per cent, and the income is much better than savings bank deposits. The clos4 ing price on Saturday was 142 to 14S. There has been considerable inquiry as to the probable value of the rights, which, however, do not accrue until october 30, also contracts are being made by holders at from $2 to $3 per right.
 The directors of the New Haven Gas Light Co. issued their call for new capital October instead of waiting until the first of January. as many owners had supposed would be the case. The holder of $500, par value of the stock, which is "A shares, can sub- scribe at par for sl00 new convertible 5 per cent. bond. This bond event. ually will become 4 shares of stock This is commonly spoken of as being the ratio of one to six The call for new capital being at a time when ! money Is scarce, there will probably l be more sellers of the rights than has \ usually been the case in other issues of this company Should any further | issue of debentures or stock be made during the life of the s5OO,O0O bonds now authorized the holders of the
 bonds will not have the privilege to | subscribe to any new debenture bonds
 of new capital stock.
 This will render it unnecessary for
 the directors to convert this issue oi
 bonds in the near future and they may
 run the full period to July1, 1918.
 | Payments of the new issue will bt
 25 per cent. of the subscription Dec ? l1907; 25 per cent. March 1, 1908; 50 pei
 cent. July 1, 1908. Instalment receipts Twill bear interest at per cent Sub tecribers can pay in full at the time
 of either the first or second payment | and receive interest at per cent. Tht first installment receipt will have at
 tached a coupon for seven months in
 terest and the second receipt a coupon
 for four months interest, both coupon!
 payable July 1, 1908. Holders are ask. l, ing for quotations of the rights" ant : street talk has raised anywhere iron : 25 cents to $1.25. At this time a non convertible bond of this grade should
 be worth par and interest If thu : period of conversion be estimated a
 ten years the rights are of small valu , should the conversion be made in thre,
 or four years the rights should b,
 fully worth the latter figure. The un
 certain factors are the probable pric
 of the stock and it's dividends ter years from now and whether the in
 come from high grade stocks will aver
 age 4 or per cent. during the nex 7 few years, With this company as wei } managed in the future as 1t is a present and city growing in popula ton 1t is very reasonable to assum : that the present rate of dividends ca be easily maintained and both ol
 and new investors in the compan, : should bear in mind that this propert has a market value of $5,000,000 with . out a dollar of mortgage debt on an
 portion of the plant.
 The clearings and balances of tn X New Haven Banks for the week end s ing October 5th, 1907, and for the col g responding week of last year are fui = nished by the secretary of the Ne t Haven Clearing House as follows: : Clearings Clearing