New-York tribune., 1909-06-04
m LIST 100000 SHARES
npFNCH SYNDICATE PLAN.
,noarf Of Steel Common To Be
pl,,ed on Paris BOurse at Present.

-. the French syndicate which has
AM 1fs- United states Steel common stock on
TsAs +2orrse is understood TO have an option
tf - shares il was said in authoritative quar-
o. ~ .lis CITY yesterday that negotiable certh-
fes J '-ssa-7ting only 10000 shares Of the stock
oa'@ II tlst would be placed on the Bourse at the
FeIs .sr,a Ultimately il is expected that the
20 VIII exercise its option On the remain
ssA-,a,, shares and that certificates representing
ia ',,,r Of stock VIII then be listed. The price
NE. me syndicate for the stock. according 10
Q~S sss.,arches from Paris yesterday. 63l2,
c.. -ro3id make the amount involved IN the
- transaction approximately S6.Spoete-
Fe'os -le consensus Of opinion in the financial
= Yesterday that. now that the Steel shares
% be dealt N on the Paris BOUrse, the French
,.rs IF the stock Of the corporation would
-. s,c-ease as has been the case in Holland
= oerfifca-es representing the stock have been
- in on The Amsterdam Boerse. Holland is
ssa5 with holding Il per cent Of the common
81. n tba United States Steel Corporation. and
- and Great Britain are also large holders
,1-ogarher. Il Is estimated that at least %
,p,r u The total outstanding common STOCK of
= c.eel CORPORATION. amounting approximately 70
.-as shares Is held abroad.
= rss announced last November that the French
---srnu1enr had granted an application made In
= sumner Tor the listing the Paris RoUrse
- bsarer certificates representing fifty thousand
..-ss Of The first preferred stock Of the United
go Rubber Company. These certificates Were
.-.,ees 10 be issued hy the Bankers Trust Com
rsnr Of this city, against deposits With il from
-,s N tine Of shares OF the stock by the French
rsnkers r Dupont K II. II Fsriaud, OF Paris.
sn5 under an arrangement similar 10 that under
vricb the certificates representing United States
s-ael common stock are 10 be dealt in on the
Paris Boarse. Practically the same arrangement
pss made for listing in Paris certificates represent
irE stock Of the Utah Copper Company. which is
controlled ny the Guggeuheiu Exploration Com
usHv II both Of these cases. although all the
-sauirer1en1s C[ the Paris BoUrse authorities had
tesr complied with. delay Fas encountered in con-
ssgasnce of defective preparation Of the ceTtih-
Csss which were engraved IN France. and there
tssf been transactions in either security It is
rndsss0o6 that dealings viii begin to-day to-
rno7oE in both, and also that II viii probably be
G5iessr before active trading in the Steel common
oerfoslss Of beneficial interest can begin in Paris.
The forns lities precedent admission Of the
cerffsostes 70 The Paris Bourse list are numerous
ana require considerable time. The first step IL the
zutlication in the bulletin annex ef the official
journal Of French Republic OF fun history of
the company the shares OF which it is desired 10
Ist and OF the properties controlled by it, that
any etizen may ascertain al OF the facts concern
ing his prospective investment a copy OF this his
tory must be submitted 10 and examined by the
1linis-rr Of Finance before the document is
cory Of the certificate Of incorporation and list
q names Of responsible agents who agree 10 pay
al n The tsxss which may he imposed.
There are three taxes 10 be paid one, which the
ba-kers assume. Is the stamp tax. amounting 70
cen1-nes per 900 francs a year The transmission
lax 81 cenues per 100 francs Of dividend, and the
income tax. per cent Of the dividend, are met by
lie investors
Ths United states Rubber first preferred and
I-tsh Copper stock deposited with the Bankers
Truss Company was bought last summer in the
oqen market, L was said yesterday
United States Steel common again made new
hgh record yesterday touching 6s4s and closing at
sss 2 net gain Of -vvo points for the day The ad-
vance in the preferred stock even more sensA-
tionai. i rose more than S points, Whlch Is d
bigger advance than il generally makes IA
years trading, TO 12Ss. The highest price II mas
ever reached and closed lg77s net gain for the
day Of 57s points The violence Of the rise in The
stock vas such that al one time there was
change Of IL points between sales. The movement
II the preferred gave rise 10 report that il was 10
be converted into per cent bonds, but this was
denied in authoritative quarters