The sun., 1916-11-15
FORGOTTEN SHARES
BACK BRITISH LOAN
Gilt Edged American Securi-
ties Of Earlier Day Dragged
From Strong Boxes.
l.. s. LIST OF 800, 900, 900
$3.50, 600, 900 Worth Of For.
eign Issues Also Pledged on
$500, OOO,O 900 Flotation.

Announcing the American collateral
behind the new 1900. 900. 900 loan TO
Great Britain and Irelan yesterday. j.
+. Morgan & Co. disclosed q list OF
securities tina must have been dragged
from the bottoms Of the strong boxes
OF the tenacious British investors. The
securities have a market value Of $780,.
600. 900. Many of the bonds OF the list
have also a value as relics OF the early
days Of American %railroading. when nrst
mortgages were placed on roads long
since merged in great systems.
Hundreds Of the certificates are brand
new. as spick and span and as brightly
tinctured with silver and gold a. when
they left the hands OF tho engraverp
thirty. forty. nifty and sixty a ago.
To bankers and bond dealers Of tho pres
ent generation many Of the bonds are
40 old and venerable as TO be unknown.
Some of the bonds deposited under the
previous United Kingdom note issue.
only bankers of the experience Of George
+. Baker. h started the First Ma
tional Bank in 1853, could recognize.
The great majority Of bankers will have
difficulty In recognizing M names OF
many more of these.
Standard dividend paying stocks pos
sessin2 equities superior 20 those of
bonds OF the Siltcst edges are embodied
In the collateral Of this loan to a much
greater extent than In the other. There
are many railroad stocks which have
long since been absorbed by investors
and passed away from the speculative
markets. II is doubtful. for instance. II
any Spectator Of the present generation
ever heard Of Alabama Great Southern
original. Cleveland and Pittsburg I per
cent pItaraytpeH Nnhila aud Rirrnfn1-
ham preferred. North Pennsylvania Rail-
road and several other of the ffty-four
! railroad stocks in the list. 1t is doubt
ful also IL any investors would care
moro for any industrial shares than for
American Telephone and TELEGRAPH.
American Tobacco, Eastman Kodak.
General Motors preferred and many
others in the list Of seventy-fve indus
trial stocks,
Steel common. which was not on the
first list. appears az collateral, as does
Steel preferred. An the stocks are sea-
soned payers 81 regular dividends. with
extra dividends added at times In the
case ~ most OF them. Altogether the
list contains approximately $40 eecuri-
ties, OF which about $40 are bonds The
list rasscl the scrutiny OF Arthur NJ.
Anderson. bond expert ~ J. r. Morgan
~ Co. while MIR. Anderson was abroad
witt J. y. Morgan and H.. I. Dawson.
The list OF stocks behind the loan fol-
lows:
Railroad Shares.
Alabama Great Sou''.ern Railroad CO.
Original. Atchison. Topeka & santa F~
hai.nay CO Common. Atch!son; Topeka &
Baltimore & ohio Railroad co. commor,
Baltimore & ohio Railroad Go. preferred.
Beech Creek Railroad 90. common Boston
central Railroad Of New Jersey. Chesa.
peake a ohio Railway Co. Chicago &
S%r,hWes,ern RaIMay Go, nomm@n' en-.
ferred. Chicago. Burlington & Quincy Raj.
road Co. chicago. Milwaukee & 81. rsu'
4 -. Paul Railway ca. preferred. cleveland
Il Pittsburgh Railroad 60. : per cent. guar
snteed Connecticut River Rsl,road CO
Delaware, laCkawauua A Western Rail-
road 60, Detroit. III sdaie 4 Southwestern
Erie & rit,snure Railroad Co, Eri. Rail
Gaa' northern RGrwly 60. preferred.
Kansas tity southern Hallway co pre-
Railroad co. Louisville & Nashville Rail,
road 90.
Minneapolis. st Pau ( s $. Mari. Raj.
: ; Marie halfway 20. preferred. Mime.
apol!s. -. Pau, & : :. Marie RAILWAY 90.
leased Ines, Mobile s Birmingham Raj.
'''l We p'''''f'N' .h''lis ~ .NNN ran
New. York central Railroad Co. New
York, Lackawanna & Western Railway 60.
Norfolk s Western Railway Co. common
Norfo'k * Western Railway Co. adjustment
preferred North"gn C.ntral RAILWAY CO,
sylvania Railroad co,
rs"T-ylysn,a Rai,soad Co.: r,,'senrs
s aSis N" Ti;r.S = r"'I r@ri NW2 ayn &C ch ta.T,
halfway 90. special suaran'eei.
Reading g. COMMON, Reading CO. hrs,
50 Louis Bridge 90, first preferred. 81.
Louis Rritse 90. Sc ond preferred South
ithcs'o. ~ interest, southern Halfway co
preferred.
Tunnel Railroad q, st. r.oul.
Union Pacific Railrosd 90 COMMON
Inion. Pacihc. Railroad 60 preferred. United
New Jersey Railroad & cana! Co
Industrial and Miscellaneous.
American Agricultural M Co. pre.
fcrrcd, american Beet sugar Co, preferred.
American can 60. preferred, American Car
s Tt gsn y g, 60. rrstsrrsi, >msrissn I4x6,
wotiNH 60. preferred, American Sm~ltirs
4 Refining 90. common. American smeting
\ Rennins - preferred. Amercan snelt,
smciIers securities 90 70 rreferrsd
N msri~.n sasa1 n Egnp'1s 20 Co. r S..msg
American Tcl"phtc & ToIegrarh "a. stock
Awert,an Thread -, preferred, America
90 preferred. Anaconda Mining 60.
BALDWIN ~l"tonn'ive Works rreferved.
hIIl'IUlN hhlENaN " ihNFF 10, nr'0l
rrefrr"n'" Central Leather co preferred
chicago FUNSTON Railways e. Union stock
yards -" Preferred, cities Service 90. pre-
ferr"d, Consolidated Gas, Electric I.ight 4
roWcr 20. u Baltimore common. Con,oli
dated Gas, Electric Light X Power 20. n
R%a'tHn"r" nr"tcrrri. Continental Can GO
preferred. tluott. Peabody & 90. preferred
5 beer" & 60, preferred. Detroit Unite
Railway %.
! Eastman Kodak co. common. Ess,ma,
Kodak 60 prefe-rrd,
urnrral Chemical Co preferred. Genera
/. E'crtrir 20, General Motor. 60. preferred
Goodrirh 4 90, u. +, preferred.
lHgersOll Rama 20. common. Ineerpol
Rand 60. preferred, lntsruattoral UarvNs
ter ca ~ Ncw Jersey common, Interne
tionsl Harvester 20. If New Jersey nre
foTrel, luternational Harvester Corporate,
. preferred. International Nirk"l 90. pre-
forrci
l"htsh Coal & Navigation Co. L.h,gl
, Valley toal Sales 80. comnon Tigqett ',
Myers Tobacco TO. preferred, Lorillard Go
T.. preferred
Mtckay companies common Macka
'"mpanieS preferred, assarhu.ett Ga
20. preferred, Moline PloN 20. frst pro
ferred, Montana Power 60 cum. praf.rrrI
Montgomery Ward 60, Inc. preferred
National Biscuit co. preferred, Nstlona
Iona 60 preferred. National sugar Rem
iug 70, ~ New ,Ier.oN.
raCthc Gas \ Electric Co. original mr..
ferrei, Pacific Gas IS Electric 60 frs' nrA
I i"rrcd Philadelphia 90. preferred. Pits
hure steel Ga. preferred, Pressed steel -,
. 60 prrfTrrri, Providence Gas 90. puliua