New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-05
answers AMERICAN
BANK NOTE CRITICS
President Green Says Stock Ex-
change Business Is Only 81
Per Cent of Total.
nFNIES EXCHANGE CONTROL
orly Six of It's Members Are
stockholders, and They
Hold 1.03 Per Cent
of Total.

Much interest was attached in Wall
c,rset Yesterday 10 the report of the
american Bank Note Company for the
rsar ended December 81. 1912 In view of
,be recent charges of a monopolstic con-
,rol of the business Of the New York
r,,ck Exchange, Warren L. Green, the
,resident devoted a large part Of his re-
marks 10 stockholders to this question.
He said
In view Of the false statements which
have been made from time to time. and
which have been reiterated during the
mast year it is desirable that a plain
statement Of facts with reference to the
relation Of the business Of the company
10 the New York Stock Exchange be
placd before YOU at this time.
An erroneous impression prevails in
some quarters as 10 the Importance of
this branch Of the company's output.
The proportion Of the companys business
which has consisted of work listed on the
Stock Exchange during the last five years
has averaged but 81 per cent OF the total
volume.
The statements made at various times
10 the effect that the exchange or it's Off
GERS or members have a controlling or any
, considerable interest in the American
Bank Note Company are untrue. The fol-
lowing facts with reference TO holdings of
the company stock are significant:
The total issued capital stock OF the
company consists Of 49, 27 shares, of the
par value Of so each. This stock is di-
vided among 1.2N stockholders. or this
total number of stockholders I03 are es-
,stes holding 1880 shares: 655 are wom-
en-. holding $3.50 shares: 500 are men.
holding e5.7O7 shares. and Il are firms.
holding 1850 shares.
But SIX members Of the New York
Stock Exchange are stockholders in the
company. and they hold total of 1,S40
shares which it VIII be seen is barely
lJ3 per cent of the total capital stock of
the company.
In addition 10 the six individual mem
hers Of the exchange who are stockhold-
efs in the American Bank Note Company.
there are twelve Stock Exchange brok
erage houses who hold 1886 shares Of
stock. Whether the stock standing in the
names of these houses is their property
or is carried for customers we do not
know The 1886 shares so held are APP
proximately per cent of the company's
Outstanding stock. The New York Stock
Exchange has LOO members. From the
foregoing statement il will be seen that
but So per cent of the membership OF
the exchange are. individually or through
their firms. holders of stock Of the com
yany and that all such firms and iHdi-
viduals together hold total Of but per
cent of the companys stock.
No officer or member Of the board %
governors or of the stock list committee
Of the New York Stock Exchange holds
any stock in the American Bank Note
Company"
The total income OF the company for
the year amounted to sSs7.7ii, an jncreas s.
Of sl57.Gis over 1911, and the amount FOR
dividends was SS-7.7H After allowing foi
preferred dividend requirements. aggre-
eating $3.50. 80. the remaining surplus or
S5SO5 was equivalent TO 12.A per cent Oh
the CON panys si.495,79i common stock.
According to the consolidated balance
sheet the company's assets are divided as
follows.
Real estate and building, Al1|W'
equipment and other permanent invest
ments. $474o,S21: materials and supplies
work IN progress and finished stock, 81
S2,W3: accounts receivable, S,Ol6' 4Ss; notes
receivable. sS,14O: marketable investments
N,5ls: contract deposits $1,000; cash $685.
81: special cash deposits for reserves
1880; deferred charges, S4,ls2; total
S.13s,543
Liabilities 49, Preferred stock. S'4so,'s4'
common stock, A.495. S04; bills payable
$4,000; accounts payable. s23S,Ss' divi-
dend payable January !. s67,4S4 reserves'
E21057; surplus. 81 $50 $50; total. slI..Ss olS.