The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-07-07
NEW YORK-STOCKS BONDS, AND NEUTRALITY-SUSPICIOUS.
FINANCIAL GOSSIP.

American capital to the extent Of
s195. 0o0O 900 has been Invested In Cana1a
during the past few years.
The firm OF J. & w Seligman, which
has been a fixture since war times at
Broad street and Exchange place, New
York. the site of the suite IL now &C
cupies IN the Mills building, plans 20
move on July TO the new banking
building at 1 William street The new
building. which faces the cotton tx-
change has frontages on three streets
William, South william, and Stone
streets.
Directors of the Great Northern rail-
way have declared the regular quarter
" dividend of Ia per cent, payable Au-
gust l.
William A. Reeds& Co. New York, are
Offering Buffalo. Rochester and Pitts
burg Railway Company AZ per cent con-
solidated bonds at 1904 and interest.
The Knlekerbocker Trust Company.
OF New York. OF which Charles T. Bar
ney is president has issued booklet
showing the growth OF trust companies,
and their function In the world or
banking. This booklet is attractive in
appearance. the typography Is good,
and the subject matter OF the work is
printed on super-calendered paper, the
whole being inclosed in a border OF
neat design. Among other things. u Is
shown that the deposits of the trust
companies OF New York State have
quintupled during the last decade, and
now exceed 81 .O00. 10000.
A special meeting OF the preferred
and common stockholders of the United
Railways Investment Company viii be
held in Jersey City on July 3 to take
action on the proposition Of thedirectors
to authorize the issue OF 100000 three
year per cent notes, and also TO con
slider a proposition Of the directors for
the acquisition of the ten-year notes
of the United Railroads of San Fran
cisco. made TO the holders thereof.
The Illinois Trust and Savings Bank.
the only bidder for 81 10000 Chicago
South Park per cent twenty-year
serial bonds. got the entire amount
Tuesday. The bank paid 500 premium
over par for the full amount
These companies have applied 70 the
New York stock Exchange 10 list Sc
curities: Chicago. Milwaukee and St
Paul Railway Company. Sl14.100 addition
al common stock. Third Avenue Rail-
road Company. $4,000 additional hrst
consolidated mortgage guaranteed per
cent 1O0-year bonds. due in 700. Chi
cago. Rock Island and Pacific, SI2, sos. 0OC
additional refunding mortgage 4 per cent
bonds, due in 1884
The Journal OF Commerce figures that
SOS. rs. 800 stocks and sac, 60o. 900 in notes
or bonds were issued during the half
year ended June @. 1907. In the same
period Of 1896 stock issues amounted tC
500. 434 .211 and OF bonds to 500. 22S OO0
The Increase in 1907. stock and bonds,
aggregated S2s2. .2S6.
The subscription period for the Atchi.
son convertibles began Friday and will
expire next Wednesday. concrrrently
with the end Of the subscription for I'm
ion Pacific cOnvertbles. Any convertible
bond, OF course. looks better when the
stock is selling above the parity Of con-
version, but a rUmor that the Atchison
party was also supporting the market
TO make its bond sale successful Sc
cured few believers. The Atchison man.
agement put out q per cent bond. one
that is attractive entirely apart from
the speculation attaching TO the con-
version feature. and. ii is believed. has
not been a. all concerned over the ability
OF the company to sell them.
Minority stockholders in the United
Electric Company, Of New Jersey. are
said TO have engaged counsel to look
/ into end protect their rights in the pro-
posed leasing Of the concern for S99 years
to the Public Service Corporation.
Ii Is not yet known whether there
will be any real opposition to the pro-
posed plan OF the directors OF the two
companies. The Public Service Corpora
ton is the owner OF about IS per cent OF
the $2O.OO0.oo0 of capital stock issued by
the United Electric Company. leaving
only about per cent in the hands OF
otner holders.
In statement issued by Thomas "
/ McCarter. who is president Of both
companies, he says that special care has
been and will be taken in regard TO the
rights Of the minority stockholders.
COTTON MARKET QUIET,
CLOSES BARELY STEADY