The evening world. [volume] (New York, N.Y.) 1887-1931, 1913-06-05
New York Corporation to In
crease Its Capital Stock From
$4,000 to s75,ooo,o 900.
LITTLE STOCK FURRY.
Lasts Only Half an Hour AT.
ter the Opening and Then
Settles Down. ia

uay Oh next week. Dcspto inc pduicky
coalition OF the stock market and the
threat Of Attornsy.osnerai MoRsynoids
to try 70 reopen the Standard OH and
Tobacco Trust cases. the stoctholdsrs
met this morning and voted snthusias.
tically to- rally the proposal q the
Board Of Directors that the capital stock
Of the company bs Increased from
Si5.ooo.ooo to e1s.ooo.ocp out Of the undis-
tributed surplus Of the company.
The increase dn capital carries With Il
bonus to each stakeholder Of record Of
700 per cent. OF his holdings. The dirsc.
tors will meet tomorrow and viii order
the distribution Of the new stock In the
form Of . dividend on June u. The
melon IL the biggest one which has been
cut In Wall street In many moons. and
coming - II does at . time when con.
servatism might b expected to b the
attitude of big corporations, II serves
to show the utter lack Of fear. u Il
doesn't reveal real contempt. Of Mr..
McReynolds and the powers Of the
Attorney-oensrai.
eHoWS THE DIRECTORS FEEL
SURE THEY ARE SAFg.
Tho decision to distribute the earn.
ings Of the company in this way was
reached sometime before Mr.. AoReyn.
ODDS suggested q possibility Of . re-
opening Of tho suit which dissolved
Standard OIL. but the failure Of the
company to delay tts actions ~ result
Of his declaration shows that the d.
rectors feel secure In the know1edgs
that the directions Of the United States
Supreme Court were followed to the
letter IN dissolving TIE Standard on
Trust.
The heavy increase in capitalization
n In limo with the action Of other
standard OIL concerns In other States
s'nce the Dissolution q the trust
eighteen months ago. Since that time
there have been many Juicy melons cut
for the benefit Of Standard OIL stock
holders, and the individual companies
have been revealed ~ enjoying. II pos
sible, even greater prosperity than fell
To tho lot Of the original Standard Oil
Company.
Up to date there have been seven big
stock distributions and innumerablx
smaller ones among the companies that
once composed Standard OH. Among
the larger have been:
STANDARD on Company Of N.
liaas-0apital stock Increased
from S1,ooo 600 70 90, ooo, 900, Win
stock aiviasAa Of $500 Per osaA
standard on Company Of Ne
Sraska-Inorssss from 100000 -
q 900. 900; stock aiv1asaa - ~
mas on2t
Oouth YsAA on oomap1y-Yrom
ee,soo.ooo 70 e1a,soo, 600, ssoek
aiv1asaA go PEI esnt
100000 70 o9,ooo,oooj stock CIV.
adsna 80 PER cent
Standard Oh Company Of Kansas
Prom ol,eoo.ooo - oo0ooveooI
stock aivaAssA 100 Dss essA
Solar 1saniAS 0enpsAy-4soa
osoo,ooo 70 oe,ooov oooj sses4
aivsAsaa 80 pr esae
NEWS OF NEW MELON CUTTING
sPREAoS RAPIDLY.
The news Of the Stsndsrd's melon
cutting circulated through q market
which was shaky at the opening.
It had been expected In Wall street
that the acute stage Of the decline had
been reached and that there would b
. rally after the close Of the London
market yesterday. But this mornins
London dumped big block Of stocki
on the market here New YORK bsarl
had cabisd selling orders to Londoa
overnight and to-day Wall street opened
at least an hour earlier than usual Il
get line on the situation In London.
The opening there disclosed price
substantially lower than yesterday
closing here. These stocks In which
there were heaviest drops showed tn
trend Of the market: Afnaisamate'
Copper. is-s OF New York's closing o
GO rs; Chesapeake q Ohio. I - on % ~
u. Q. Steel. 1 on Is -.
Heavy selling orders were placed foi
European accountst
The bears pounded at every veal
stock and had the satisfaction Of Sc
ing stocks fall before their onslaught
After the frst half hour Of heavy sell
Ing banking support appeared In th
market and there was . general rally
The half hour furry ended In . genera
feeling OF relief and q renewal OF tn
belief that the worst was over.
There was Q feeling Of relief In IN
street when after the nrst hour II bsga
to DO realised that there vas IN activ
bull leadership In the market for tn
nrst time In many u>0nths. ArbitrAg
|, brokers who deal In the fractional dif
fersnces between the London and tn
New York markets noted that Lombar
/, street dumped fully 5000 shares on tn
y market here In the hrst hour and for
time II was mystery how these share
. ! were absorbed.
, Then It developed that Daniel a. Rel
ana others Of the First National Ban
, interests who had bssn out OF the MAJ
ket for Gx months were buying Lor
! don's offerings. This evidence Of bu
+. Leadership was taken 10 indicate thi
. the big interests had decided things ha
] gone far enough. that the America
. people had become too psssimistic, On
> that the situation wAs being mad
. worse than Il actually waA
. The innux OF London stocks cease
. suddenly when The arst eetehes n
, elivs4 susA . rsa1y aAykst
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