The Bridgeport evening farmer. [volume] (Bridgeport, Conn.) 1866-1917, 1913-09-12
MORGAN & co.
GIVE new HAVEN
ROAD FIGURES
Firm Has Furnished $I63, 627, 900
In Three Years With Profit
OF $3.50, 4O5 - New
Bond Issue Hear
ing

Boston, Sept. 12-Those who oppose
the SGT, 500, 900 bond issue by the New
Haven railroad will have an oppor-
tun1ty to state their objections today.
The Public Service Commission tenn
porarfly suspended the questioning OF
Vice-President Kochersperger yester-
day until the New Haven has furnish
ed the commission with statements of
the income account and other figures
relating to equipment account.
after this statistical conference has
been completed" said Chairman Mac
Leod, 1.-The public hearings upon this
phase Of the question will be resumed.
In the meantime the general hearing
will proceed uninterruptedly."
Through an exchange of kilograms
between President Elliott of the New
Haven and J. P. Morgan & Co. it
was made known last night that the
fiscal agents had furnished the New
Haven, the Boston and Maine and the
Maine Central railroads for refundins
and other purposes the sum of $685.
627, 900 since November II, 1910. On
this the banking house received COM
missions amounting to 1888, 405.
1t was also given out that Morgan
& Co. if it UNDERWRITERS the $67, 100000
debenture issue will receive a total
possible profit of $212,5s7.
These figures came from Morgan &
Co., in response to the following te1e-
I'm view of questions raised before
the Public Service Commissioners of
Massachusetts,, if you do not object to
stating and making known the parti-
cuIars, will you kindly inform me as
to the total amount of money obtain
ed for the New Haven, the Boston and
Maine and the Maine Central for re-
funding and other purposes and OF
profit realized therefrom by your firm
since the date of your fiscal agency
agreements and also as to your pos
sib1e profits under your pending con-
tracts for the proposed new deben
tures?7'
The reply from J. P. Morgan & Co.
was as follows:
t'Answ ering your telegram Of this
1910, 1.-The date of the fiscal agency
agreements, we haveg Obtained for the
New Haven, the Boston and Maine and
the Maine Central for refunding and
other purposes sums of money amount
ing in the aggregate to $168, 627, 600 The
commissions covering these transac-
lions ds $3.50. 405, being approximately
one-half of 1 per cent the total profit
to our firms here and abroad being
of 1 per cent. The remainder of the
commission was paid to others here
and in New England.
Second: AS to possible profit
on the proposed issue of $67, $50, 900 de-
bentures. We have retained one
third of the bankers undertaking or
iginally assumed by. ourselves alone.
For this our one-tf1ird share of the
commission for all services Of revery
kind will be $112,5S7 Further, we
have subscribed $1,000, 900 to the VA
dictate, upon the same terms as ev >r.y
other subscriber, including the co a
mission of 2 per cent. or 800, 900. a411l .
our total possible profit, including al
commissions, is $212, 5s7, or approx
nately three-tenths Of per cent. If
the total debenture issue should not
be taken we should be obliged to take
our share Of the untaken debentures,
with results which cannot now be
| foreseen."