The San Francisco call., 1910-06-23
Coffee Exchange Holiday
Loans. Excbange and silver
STOCK MARKET

Under fair list of sales. Associated oil was
weaker on the stock and bond exchange yester-
also lower at 5000. Other variations were
toward higher prices California wine advanced
to S9l, presumably on the financial plans of the
company announced below. Telephone common
higher at S34 and Makawel sugar at sos
bid at the close. Another higher stock was
Spring Valley water at $4I.25. The United
railway bonds were higher at $40 and the Peo-
$a5. 600 49, " ~
In mining stocks the Comstocks were weak
and quiet, with assessment of DC on Silver
Hill announced.
nounced setback. declining from S9.55 10 S9-25.
Two causes ascribed for the decline-oDe
that large holders in the have been taking
their profits from the late rise and another that
deal for the sale of a controlling interest In
the property at $40 share or higher had fallen allen
S1.4T1a to $155. and Tonopah of Nevada also
higher at $3.50, against $3.50 on Tuesday.
The Continental building and loan association
has declared semianuual dividend at the rate
Of per cent per annum ON time deposit money
and at i per cent per annum call money,
w G. Douglas has taken charge of the Best
& Belcher mine as superintendent, succeeding
Frank Higgison, who retired when the Butterheld
management gave over the control
The San Francisco stock exchange yesterday
voted to adjourn from Friday night, July !, TO
Wednesday morning, July 3. over the fourth.
Tho mill report of the Tonopah mining COM
psny for the last week shows that an average OF
81 stamps out of 100 were dropping constantly
crushing 3.400 tons of of an average value
of S22 10 per ton. No bullion concentrates
were shipped. owing TO the fact that but four
cleanups are made each month and the coneen-
trates are shipped every 10 days which increases
the size of the shipments. The average extrac-
tion for the week was 80 per cent
The mines Of Tonopah district shipped total
OF 69S2 tons of ore of an estimated value of
$1745oO to the mills last week The Tonopah
company sent :. 100 tons the Belmont l 500 tons,
Montana l, ,032 tons, Touopah Extension 500 tons
West End 300 tons, MacNamara 130 tons and
Midway 30 tons.
Last September the directors of the California
Wine association levied assessment of $40 per
share. At the annual meeting it was intimated
that further capital would be required to prop
erly carry ON and expand the business The
following plan is now submitted to stock holders
That 10000 shares of the present authorized
capitalization of 100000 shares of the par value
of 500 each shall be converted into preferred
stock carrying cumulative dividends at the rate
of 6 per cent per annum, and preferred both as
to dividends and assets.
That 81 .426. .260 par value Of this preferred
stock shall be- offered TO stock holders at
s66 &C 2-3 per share with the right of subscrip-
tion thereto in the proportion OF three-tenths of
share of preferred stock for each share of their
present stock holdings.
A syndicate has already been formed which
has agreed TO take at $66 per share such stock
as may not be subscribed for and taken by the
stock holders.
The proceeds of the sale of this stock will be
used to retire portion of the floating indebt-
edness which is bearing interest.