The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1909-06-09
UTAH COPPER ON
PARIS BOURSE
Preparations for Its Listing in
French Capital Is Now
Under Way.

The New York Times Of Friday last has
the following interesting account Of the
red tape maneuvering that has to be gone
through before the shares of the United
States Steel corporation and the United
States Rubber shares can be dealt IN
in Paris. The last paragraph Of the story
is the most interesting of all, locally, not
withstanding its brevity as II gives the
first news that -he shares of the Titan
Copper company are also in process Of
listing on the bOurse;
1T was learned Yesterday that the red
tape incidental to the listing of the beat
ers' certificates representing the lOo.HV
shares Of United States Steel commRa
stock which are TO be traded in in Paris,
will postpone the actual market for these
securities in the French capital until the
fall. The Bankers Trust company, which
is the depository of the shares, against
which the certificates are issued. is also
the custodian Of 5000 shares Of the pre-
ferred stock Of the United States Rubber
company OF a par value OF 3D. 90, OF
which bearer certificates are TO be traded
in on the bourse tomorrow or the next
DAY for the first time. This company was
the first industrial TO use the plan now
adopted by the United States Steel cor
peration, and made its application last
November.
Maurice Leon of 80 Wall street. coun-
sci for the French banking house of Du-
pont g. Furiaud, which is the agent for
the bearer of certificates Of the Bankers
Trust company, explained some of the de-
tails of the listing plan yesterday. He
said that as a necessary preliminary a
full history OF the company with certified
copies Of the certificate of INCORPORATION.
lists OF assets and properties, and other
data must be filed with the ministry Of
finance for investigation and published in
the Bulletin supplement of the official
journal OF the French republic which
corresponds TO our Congressional Record,
where the facts may be easily accessible
to all French citizens.
In addition similar information must
be submitted to the b0urse authorities and
arrangements made with the brokers on
the bOurse. Finally, responsible financial
agents satisfactory to the government
end bourse officials must be appointed
and guarantees must be given for the
payment Of the annual stamp tax of
centimes per 100 francs Of capital repre-
scented in the certificates, or about
cents on every 800 share. Other taxes are
paid by the owners Of the certificates
These include a transfer tax of 20 CEN
times per 100 francs, or about 20 cents per
share, and an income tax Of 4 Der cent
on the dividend paid.
THE United States Rubber shares are
represented by certificates made out in
denominations of one share each. in
dorsed by the depository OF the original
stock, the Bankers Trust company and
each certificate bears a number CORES
ponding to the number Of the stock Ger
tificate. The dividends are represented BY
coupons, each payable by the Paris finan-
clai agent. who in turn collects from the
company through the Bankers Trust
company Mr. Leon explained that the
rench investor does not want to register
his ownership Of stock and for this rea-
son bearer certificates are issued which
are transferable without red tape
In addition 10 the United States Rub
Der shares tlse Bankers Trust COMPANY
IS also depository for shares of the Utah
copper company, which are also in DrO-
cess of listing on the bourse"