Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1910-11-17

n q oR1%AoA
holders of the Ingersoll-Rand Com
pany in New York yesterday it was
voted to increase the capital stock OF
the company from $40, 00O, 900 to sic, 000,-
600.
No changes were made in the differ
ence between grades as applied to de-
~liveries on contract at the meeting of
the revision committee of the New
York Cotton Exchange yesterday.
A director of the Detroit Edison CON-
pany said yesterday that the increase
in the dividend from 1h to ia per cent.
was prompted by the exceptionally
favorable earnings that have been
shown. thus far in h current year
He said that earnings before the de-
duction of the allowance made for de-
probation are at the rate of more
than IA per cent. per year.
General Manager Franz, of the Lake
Superior Corporation, ,ays that the
company itself viii undertake the
erection of a 81, 600. 900 paper mill at the
! 500 in connection with the company's
plant, and hat it will not be erected
by outside capitalists. 1t is believed
that the money required for the new
plant will be furnished by the English
interests, - dl1rine the past ear
have contributed such a large amount
of capital to the extensions and i'm
provements of the company's plant.
Stoneham, Mass, has awarded a
temporary loan of $40, 200, maturing
J May 16, 1911, TO Blake Brothers & Co.,
at 400 per cent. discount.
Chicago voters will be asked at the
spring election to authorize a new bond
issue of s $500, 900. to be used in build
ing bridges.
The SIS, DOC. 900 6 per cent f~ve-year
notes of the General Motors Company
have all been sold by the bankers. The
net earnings on the common stock for
October and the TO ~eeks of Novem-
Der are said to have been at h rate
of Il per cen
An offering of $3.50, 900 Duluth. Me-
saba and Northern Railroad general
mortgage 5 per cent. sinking fund gold
bonds is made by Redmond & Co. The
bonds are redeemable for the sinking
fund at los and interest. They are
secured by a mortgage on the entire
property of the company.
Lawrence Barnum & Co. of Philadel-
phia, Washington and New York, hav-
ing solo a large portion of the 1900, 000
first refunding mortgage 8 per cent.
gold bonds of the Gary and Interurbah
Railway Company, of Gary, Ind, the
electric railway of the new steel city,
! offer the balance of So and interest,
Welding $40 per cent. The bonds are
due July /. 1880, and subject to call at
los and interest. Application will be
made to list these bonds on the New
York stock Exchange.
Immediately following the announce
ment of the interest rate on Pittsburg
Improvement bonds Tuesday, the COMP
troller was notified by three large
bond syndicates hat they viii bid for
the entire first issue Of 4 1000. 900 at Az
per cent. The first issue is expected to
be sold next month for delivery in
January.
]. P. Morgan & Co. Lee. Higginson
& Co, and the Illinois Trust and Saw
ings Bank are offering at 81 and in
terest 1880, 600 Kansas City Terminal
Railway Company first mortgage A
per cent. golr bonds. The original is
sue of s12.5 0 900 is listed on the New
/ York Stock Exchange and application
will be made to list the bonds now
offered. The combined surplus income
last year of the twelve companies COM
prising the corporation was more than
SOS, 900, 900 above fixed charges.
THE LONDON MARKET.