Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1910-12-28

ceeded at Hannibal by w. c. Wolz.
FINANCIAL NOTES.
A petition for the removal Of the
Philadelphia Stock Exchange TO a more
central location uptown was quietly
circulated on the floor of the exchange
yesterday and rather freely signed by
members.
Three building n loan associations
in Philadelphia will shortly take action
looking to the increasing of their cap
italfzation. They are the John 8. Stet-
son, whose increase will be from 81
100000 to $4,000, 900; the Henry Clay,
from $1,000. 900 to $1,000, 900. and the
municipal from $500, 900 to $4,000, 900.
The step is made necessary through
the fact that the subscriptions to stock
are greater than the present capitalize
ton.
John T. Odell, a retired Chicago
banker and a former president of the
American Bankers Association, died in
Denver yesterday. He was a resident
of Boulder, Colo, and was IS years old
Through sharp contraction in mill
operations the United States Steel Cor
poration is expected to show further
shrinkage in untitled orders In the cur
rent month.
The advance in Consolidated Gas to
a level above the highest on Friday
started expectation of rights or an
extra dividend.
The Carnegie Steel Company is con-
templating important Improvements for
it's South Sharon plant. These, 1t is
said, include the conversion of a part
Of the plant into a continuous plant,
whereby It will be possible to roll tin
bar and billets direct from the bloom
ing mill.
Application has been filed for an In
crease in the capital stock of the Le-
high Coal Company from $4,000 to
SIS, 900, 900. $1,000, 900 of which will be
preferred and $4,000 900 commo
The plan submitted to the note hold
ers by the creditors committee of the
Westinghouse Machine have met with
approval and consent from IS per cent
of the outstanding amount. It is be-
1ieved that the remaining holders VIII
also consent.
New York listing of Lehigh Valley
has more than quadrupled the activity
of the stock. In the twenty-three days
Of trading on the New York and Phila-
delphia exchanges, beginning November
rs, there has been a daily average of
22 ,454 shares sold in New York and of
2,SS6 In the local exchange.
The gross earnings of the Chatta-
nooga Railway and Light Company for
the month of November are s7,4S0, an
increase of 81 1869 over the correspond
ing period last year. Gross earnings
for the eleven months OF the rear were
s7se, 41s, an increase of 1872, 254 over the
same period in 1909.
Application for the listing OF the fol-
lowing has been made to the New York
Stock Exchange: Lake Shore, SIS, 000,-
600 additional twenty-hve-year 4 per
cent. bonds. and Tennessee Coal and
Iron railroad, 50, 10000 additional gen.
eral mortgage 5 per cent. bonds.
Lawrence, Mass, will receive bids
until II a. m. December 90 for $160, 600
4 per cent. ordinary debt bonds, dated
December !. 1910. maturing $4,000 in
each of the years 1911 TO 1920, inclusive.
The city of Pittsburg will open bids
tomorrow for s4,s7s.ooO Az per cent.
bonds free OF AK. Trenton will open
bids for sS5,42o today.
There have been listed on the Phila-
delphia exchange $277. 400 American
Telephone and Telegraph and $4,000
American Gas.
Following news that President Taft
had completed plans for the prosecution
of the Electrical Trust. General Electric
shares and Westinghouse Electric broke
sharply.
The committee Of which William Sal
ONION is chairman. representing the first
mortgage Az per cent. bonds of the
Buffalo and Susquehanna Railroad
Company. has Issued a circular to de-
posting b~ondholders, stating that It is
deemed inadvisable at present to at
tempt to formulate any plan of reor-
ganization.
Arrangement has been made by which
subscription to the 6 per cent. convert
ible debentures of the Diamond Match
Company may be paid to the Continen-
tai and Commercial Trust and Savings
Bank, Chicago, on Thursday. December
90, and until the close of business Janu-
airy 8, 1911.
A special meeting Of the stockholders
of the Norfolk and Southern railroad
will be called the latter part of January
at Norfolk, to authorize an issue of
$35, 600. 900 first mortgage bonds.
PENNSYLVANIA COMPANY DIVIDEND.
PHILADELPHIA, Dec. rs. -The
Pennsylvania Company. one of the