The evening world. Newspaper, October 7, 1902, Page 4

ALL THE LATEST NEWS OF THE BUSINESS WOR. TOCK PRICES OLD COMES AND WALL ST. CST 1 4 LOW LEVELS eene Issues Show Heaviest Declines in Weakened Railroad Group. Ml OANS NOT RENEWED. Opening transactions in to-day's stock et were mostly at advances, ders bid prices up at the start to toh the “shorts and in many in- nces were successful. he liquidation which yesterday was ed in practically every issue, and tled state, was not so pronounced to- [There wasn better feeling with regard fe money, although the outlook is not Toseate, and it was thought that the wy forced selling of Monday had jerially aided in clearing the finan- aky, temporarily. he fact that troops had been orered the coal fields was looked upon by @s an important factor in steady- the prices of the coalers, but by fiany the situation was not considered “Wes conducive to an early settlement. Jthcugh London prices were up at the wing and support was evidently given fratke: there through orders from York, the local market was unmet- d ani feverish. Move Not Expected. fter the initial opening prices held dy for a while, but renewed selling jasure was created by the unwilling- of the banks to renew time loans loch are now maturing. his was a feature so unexpected ttt caught many big houses in an barrassing position, They were forced @ecure accommodations elsewhere or well out the stocks they were car- was this iast recourse which caused re in the early afternoon, Con- ‘f¥inced that maturing: loans could not be newed on terms which would be all favorable, some of the big pools a blocks of their holdings. a in the afternoon the bears and spread the false report that age, the aged fnancler, was and before tt cotild be offictally tradicted at Mr. Sages office a bik Ing movement had started. In the @ dealings there were no especial tires, except the constant reduction com Itments by pool leaders and Hines were rather unl especial pressure In any one direc Paul, Atchison, Pennsylvania, y . Baltim & Ohio rie f or Union cific were weak at the lowest figures the Gay, outhern with Httle support shown, Pacific and Miseourt Pacific, R. ne and the Junior the chief than “Missouri Pacifle fell to below 110, Bouthern Paolfic fell below 70 for wince Mr. Keene's return & N. Man- (tan Was on a par with t South Pacific and demonetrated that liqui- is atill a necessity before the and hatin hare selling preseire without making any tonal breaks or uncovering selling ry Sally unchanged, although rates re tas high as vesterday and the de- id was not large. ime monoy was still quoted at 6 per t. for all dates plus the commission, ich varies according to the Indiv! tivity‘ opened ent Wrensurer N.Y. Central dh Away Arter priet 1 teoNK ERS, Oct. 7 George 8. Prince Treasurer of the New York Central and/ ‘Hudson River Rutiroad, died at his rest- @ence in this city to-day after an {I- is Of about two weeks. He leaves a fe, one son and one daughter. Mr. Ince was nat Geneva, N. Y¥., rty-four year: 0, Until twenty years ago Mr, Prince a Treasurer of Central, enlisted Mr: Ices In his department, and pidly through vartous ‘posi- ons of trust until was appointed York roof various her railroads and commercial institu. ons, Mr. Prince was a man of unusual Mobility and of exceedingly high charac ir. He was prominent in the church Mr. Prince lost : through strain ice then he has had numerous opera- ons performed and the eye has troubled Im greatly, ‘The announcement of his th came as a sad blow to his friends d associates. _—<$$— LONDON MARKET DULL. Strength in Americans on Light Trxding. London market to-day was ex- » dull and without feature. Was practically at a standstill t Uttle busines was done was @ professional character. The ite yesterday in American ratl- urities has considerably upset and traders are holding off ments In New York. very little doing in the de- American ratlway shares pally were in advance of final figures at New York. -atvong undertone to the EASES MONEY Australian Shipment Here, and Imports for the Week Will Total $8,000,000. LOANS AT 8 PER CENT. The arrival of the steamer Sierra at ‘Ban Francisco to-day with $8,500,000 in Australian gold, consigned to New York bankers, had a good effect both on the time money market and the rates for call money Money on call opened at 12, dropped to 11 and for the greater portion of the day was at8 per cent., at which figure most of the louis were made. The announcement that the Treasury Committee appointed by Secretary Shaw FELLOWES Clubman and Horse Show Official Tells in Court of His Ex- perience as a Broker. MUCH FIRM’S BOOKS BURNED. Cornelius Fellowes, clubman, stock- Uroker, horseman and President of the National Horse Show Aspociation, told | befure dustice Bteckier in the Supreme Court to-day how his two years in Wall street had tled up more than $100,000 of his money. He waa the principal witnesn in a sutt | Aguinet his partuer, Davia Johnson, now head of the firm of Davis Johneon & Co., for an accounting. Mr. Fellowes went had to-day accepted $4,000,000 in New York, Philadelphia, Boston, St. Louls and Trenton city bonds as security for government deposits was uiso a re- assuring feature. It Indicated that at least one of Secre- tary Shaw's financial reliet measures was actually in working operation and that additional aid from this source might be expected, Considerable progress nas now been made at Washington tn getting some. thing practical out of the various ex- pedients resorted to. The amount of debt offered for inter- est rebates up to noon to-day was $126,- 676,990. The amount thue far paid out on the resistered dopt and in coupons aggregates about $5,000,000. Be this, the gold shipments due some time this week will tot about $3,000,000, which will make th total of gold imports rhis week of near. Jy $8,000,000, At the close of business yesterday the Government money in National Rank pesl'otes wan $136,2%,04 of which $7,029,000 was to the credit of disbursing offloers, CURB MARKET WEAK. Light Demand Stocks and Volume of Trading Narrow. The curb market was weak with light demand and the volume of trading narrowed to small proportions. Quotations for the active stocks were: New York ‘Tranates Northern Securities Rock Ialand i800 Ban Franeisoo pt Ban racctsco Seaboard Into Wall street In 1887, Ho it out in 1889. His $100,- 000 is still there somewhere, although the brokers are popularly supposed to coin money Itke the mint. “I put $50,000 In the firm to atart,” said Mr. Fellowes, “and the next year had to m @ my house for $&0,- 00 more on account of the firm being 80, much involved. “I got out the next year and when I asked Johnson to wind up tho partner- hip and give me an accounting he id the firm's books had been burned and he couldn't. Later two of the books were produced. ‘The last balance sheet showed that there was 0.0 t first, the $0,000, by mortgage and my Exchange #oat at $20,000." Represented ¢! Firm, ook, a f of the called, 5 ‘orm emploree firm, was |. He ran the branch e firm at the old Windsor Hotel avenue, “Did you take in any money?" he waa asked, “No, id you pay out any money?” . ‘What did you do, then?" ‘Why, I represented the frm.” “Were you 2 “1 don former cashier of fled that to offaet BANKER JAMES STILLMAN, The annual meeting of the New York Clearing-House Association, held this ernoon, resulted in the election of Johnson put lowes’ in his experience to the firm in last “Mr. Fellowea's seat on ‘Change was sold the next year for $0,000. The firm Was short of money and Mr. Johnson said things looked dar! The trial was continues ed ATTACKS ALTON SALE. CHICAGO, Oct. 7.—Henry D. Laughlin, @ minority stockholder in the Chicago and Alton Railroad Company, has begun @ suit tn the Civil Court here attacking: the recent gale and transfer of that rallroad to the new com phys complaint he man, Bohiff, James Sul Hes Eanes ae ee ‘aqui James Stillman, head of the National Clty Bank, as President. Mr. Stillman gucceeds President George F. Baker, of the First National Bank, who has served two terms as head of the Cjearing-House Association. As president of the laregst baok in dhe United States Mr. Stiiman {= one of the bustest men in the financial dis- trict. He is identified with moat of the big deals in financial circles and As the direct banking representativ: ft the great ndard Oj] interests car- ties on his shoulders a burden of no m roportions. Bice of Proatdenst of tho Clearing- H@pe Avsoclation is the highest hor whith New York banks can bestow upon @n individual, the head of Association, its Preatdent represents fifty-nine banking Inatitutions, ith deposits at the last re- port of $872,176,000. NEW CLEARING-HOUSE HEAD Gates W. McGarrah, Vice-President- Cashier of the Leather Manufacturers’ National Bank, was chosen Secretary. William Sherer continued as manager. Upon the various committees the fol- lowing new members were chosen: Clearing-House Committee, J. award Simmons, President of the Fourth Na- tlonal Bank, and Dumont Clarke, Pres- ident of the American Exchange Na- tional Bank; Conference Committee, Richard Delaficld, Pr. National Park Bank; William H. dent Bank of Ameriea, and P. Snyder, President Weatern National Hank; Nominating Committee, Samuel Woolverton, President Gallatin National Bank, and Walter E. Frew, Vice-Prest- dent Corn Exchange Bank: Committee on Admissions, William H. Porter, Vice- President Chemical Nattonal Bank, and George H. ‘Hard, President. Chatham National Bank; Arbitration Committee, Mesers. PC. Lounabury, Prealdent M Exchange National Bank; Schaefer, President Ger- mania Bank, and Edward §. Schenok, President National Citizens’ Bank. BOND TRANSACTIONS. S88 82 RSSRSRE 8 1000. , + 108 Oot ya soa Bs eee 964 * 1000. 101 Got mia tee da 101 3000... atch 1 8 6 F pea # Eta = m if ; 23% Den @ RG con ds 4000. 32 FER LS CHR S ohio the Oo aaa sone 101M SO 0rsy "0 Bek 4.0 40 1 Bak & Ohio |PLB@wy 4s 10000, Brooklyn Rap Tr be Brooklyn Un’ Wi Ist an. tithe} OLS Erie 1m ee im gon 4 1014 00, Erie lst gen da 8100 * 36 a 123% Green Bay & Wn ded 8 ibaa pees Flint @ Pere M 6s 5000) 134 ike $8 " 120% Kana City & 0 5X) 10000. 0% i 4 98% Southn Pao dike + 106 Team settion Se HM Tenn Co & TR Rirm US div fs 1000.......4. 110 x 9% Tol Bt 1 & Was NY CMC oli GB 1000. . THE CLOSING Car & Foundry... Car & Found. pt Cotton O11 in Gra i Hide & Leather. Ho Leather pf . Toe Co 100 American pe 13,890 American Bugur s+. 100 American Sugar pf 100 American Woollen pf. 100 Anaconda Mtring ... 200 Ann Arbor p! 90)... . 4 Tou st. Ww be Pr 10. fo: ) so MD pur money a NY CN @ StL ds 20 1 F sees 104% Norfolk & W_ Poo C aw Norfolk & Went te 1 Northn Py Orexon 8h Line 4 pe & rt ots Dai 10000, Peo & F inc 4a 000. Penn Warrants 700. ran © @ FR de 18tta 8. 103% 100% Manhat Ry cons CR é P gen te Manbar RR de 0. 108% on Cm PM @ 0 be Met AR be Selling Reserve Bonds. ‘The urgency of the monetary situ- ation is strongly shown by the dis- tinctly lower tendency In bonds, Cer- tain issues which are not usually for sale are by the exigencies of the situ- ation being freely offered. Their holders are compelled to raise money and can’t get it throygh the banks. ee) S18. Smashing of pool attempts to ad- seth the coal strike bly within the vance stocks in spite of bank cautions was th seouls of terday's nervous market. To-day the pool leaders who GOSSIP IN AND ABOUT Mm In 8 GT te 10 AR aon he cre WALL STREET, have been hard pit let the market take {ts own course, . $35,000,000 Drawn Out. Chicago and New Orleans—the one the grain centre and the other the hub for the cotton movement—have thus far taken away from New York from all sources within two months mh 10,11) Brooklyn Rapid Tran. 900 Brunswick oo... 60.055 | be cx Term: & Tran Term. & Tr. of. Union Trae, Col. Southern... |. Southern 1st Col. Southern, Hock. Vi & Hock. 00 Hocking Coal 400 Tlinots rie 2ONgIIlinola Central goafinter 700 Inter 100 inter 200 Inter 200 Iowa ‘ 100 Towa Central pt... 3,800 KC, AL 8. & M. pe 100 Kan. City Southern. 100 Kan. City Southern. pf. & Mich i Paper pt Power Pump. ratora of the $100,(00,000 Consolidated Copper Company of Virginia, says that jie will not ght the trust, “Tt will sim ply work mines which Its Incorporators own and try to make monoy out of It Strike a Great Menace. One of the highest authorities In the stock market eays that the finan- cin! stringency was much more seri- ous than the general public appre- hended. The worst of It {s over, but the coal crisis now takes {ts place and may cause even greater trouble later on. Business depression is threatened all over the country be- cause of it, about $35,000,000. They are still tak- ing % away at the rate of from $3,- 000,000 to $5,000,000 a week. Franklin Bien, one of the incorpo- Secretary Shaw's offer to purchase $5,000,000 of Government bonds at re sdnadle price and his pian to purch: more is not highly regarded street, Tike all the plans he hag put forward It doesn't mean much, Reliet is not given by it QUOTATIONS. FEES Ae raa Gat |gomantasion o BO) Pacific 000 Pennayivanin, 900 Peo} oo Ry. Steet spring 7, Stee «400 Reading oe a Read lat . 100 Heading 24 pe Shares. 1,@00Republio Steel... S35 z = 2Epuapsmaggessyty Tel. BL. & 23 Ti), St. L&W pe 41K Tesh Clty Re Tessas HB Union Pacific 108% Minton Paotto pf. 0% 8. 0. 1. Pt SE233822 pee caPloe Bos SESS= sSS82SSSS sere art ae Se 6 BE wi tral Pa et ‘Phe total sales of atocks were 900,000 shares and of bonds $2,811,000, SHIPPING NEWS. ALMANAC FOR TO-DAY. €.02/8un seta... 6.85] Moon sete. 9.83 THE TIDES. High Water, Sun rises... Low Water, AM. PM Sandy Hook. Governor's Clan Permuzon Mercator Coleridge Aggie Crexdate. aiema Mexico . Finance |": Karemani: Jefferson OUTGOING STKAMSHIPS. BAILED TO-DAY, Diuecher, Hamburg, Friesland, Antwerp. Bovle, Liverpool. Kalaer Wilhelm: dee Groped, Bremen, Bilso, Marte, Flushing. i INCOMING STERAMBSHIPS. DUE TO-DAY. outhwark, douthampton, Neustria, Gibraltar, Janeiro Vera rus Pailadelphia 5 Havana len. "Rartiasoian Giaagow, STEEL TRUST VOTES |NORTHERN PACIFIC {CHICAGO AND ALTON TWO DIVIDENDS. Directors Declare Usual Rate and Report the Net Pfofits for the Last Quarter $39,000,000, Special interest attached to the meet- Ing of the directors of the Unted States Gteel Corporation here this afternoon because the earnings for the quarter ending Sept. 30 were submitted to the board by Chairman Gary, and the dividends on the -referred and common stock for the next quarter was voted, A member of the board hed this to say of the meeting: The Board of Direotors declared divi- dends of $1.75 per share on the pre- ferred stock, payable Nov. 15, and per share on the conimon stock, payeole ec. a. 5 “That ts the same rate which has revalied since the corporation began Business, "At present. prices ock It Is equivalent to 9 per cent. a year on the preferred and li per cent. a year on nwe corporation de about “The corporation has made 000,000 net. profi nai its for the quanter Sept. 9, which is nearly ‘413,000,005 ° than the net earnings for the same quar- ter last year. “ithe net earnings for 1, May and or July. Au- June were $37,001,006, and lst and September pearly $2,000,000 11 excess of that sum. The meeting was held at the offices of Broadway. the trust, No, Tl CENTRAL WOULD ABANDON STATION. The 110th Street Stopping Place, the Company’s Offi- cials Tell Railroad Commis- sion, Is Now Little Used. The State Ratiroad Commission con- sidered to-day at the Fifth Avenue Hotel the application of the New York Central Ratlroad Company for permls- sion to abandon its station at One Hun- dred and Tenth street. No one appeared in opposition to the application. Charles Smith, guperintendant of pas- Senger transportation on the Herlem {| Division of the road, told the Commis- sion that the public interest no longer requires the maintenance of the a1 that trafic is decreasing and that last year the average of persons using the station was only 6,000 a month. ‘The next thing taken up was the hear- ing on the joint application of the Rock- jand County Traction Company and the Rockland Raliroad Company for permi sion to construct an electric roalroad on the rivér road through Upper N: Nyack, Grandview, Piermont and Spar: kil. Opposing property owners were Feorsern ted, Another hearing will be held. —— Banking and Financial, Aurrep Mi. Lamar BANKER, Hachange. WILDING, fj RK. 39 EAST 42D ST., 12 EAST 23D ST., TEMPLE BARBLDG., B'KLYN. ral Banking business, executes ere in STOCKS, GRAIN, COTTON, and deals in high-grade INVESTMBNT SR CURITING. ISUED IN SBMI-MONTHLY @BRIBS. AN EXHAUSTIVE REVIEW AND ANALYSIS OF THE LEADING RAILWAY AND INDUS- NTORPRISHR OF COUNTRY, PERMIT INVESTORS INTELLI- DETMORMINE SECURITY VALUES. Accompanieg Bach Railway Gemder Now York Con, Stock MAIN OFFICE BXCHANGE BI 0 BR NEW YO) BRANCH OADW. OFFICES : { “AY, transects o Serles No. 10, “Union Pucife.'” Series No. 41. \’Routhern Ratiway."* jeriea No. 12, "‘Atchieon."” OURS ri NO. 18, WILL Be TES, VOTED TO A RBVIBW AND ANALYSI€ OF PENNSYLVANIA. CAN BEY HAD BY QAULING AT OUR oF- FIOB3 OR BY ADDRBBSING STATISTICAL DEPT., MAIN OFFICE, “A Glimpse at Wall Street Brunswick | wher" and Its Markets,” AND PAMPHLET ON “The Grain Carriers,” Issued upon request by JACOB BERRY & C0, Consolidated Stock Exchange. Members: { New York Produce Exchange, 44-46 BROADWAY. N.Y. Philadelphia, Boston. Hartford. L. MCLEAN & 60, BANKERS. Main Offcs, 25 BROAD ST., NEW YORK. G0 MADISON AVEC, neat Bast 69th 8} RING ‘corner Broadwa: a solicited in stocks, pene 4 Fs parent jarket letter upon application, fate wires. Tnteremt allowed on deposita subject to check, Hh GOSSITT CONE & C0. 44 BROAD 8T., NEW YORK, BOWERY BANK BUILDING, (ncetol STREET AND Far canenruity tr otienta, SOLICITED, HAIGHT & FREESE CO, aianine STOCKS, BONDS, GRAIN, COTTON. Wo wih be pleased to send you upon request our 460-page,” cloth-bound, iNustrated ‘ GUIDE TO INVESTORS," also STOCK AND coTrow YOUR PATRONAGE BSTABLASHED +1890. EARNED $41,080,079. Road's First Annual Report Since the Big Merger Rosy, and Tells Need of Double Track System. ‘The annual meeting of the Northern Pacific Ratlway was held at No. 49 Wall atreet this afternoon. This is the first annual meeting since the Northern Se- curttles merger. Gross earnings for the year were $41,- 387,379. Of this $21,288,413 were expended for operating expenses, leaving net earn- inge of $19,792,840. President Charles §. Mellen said: “The business conditions along the company's Mnew are very favorable and warrant the conclueton that the present fiscal year will make a showing equally as satia- factory as the one recently closed. The gross receipts will be limited only by the capacity for handling the traf- fic offered, ‘We have only a single track line, Yet our earnings per mile of road ope: ated equals that of several roads that are double-tracked west of Chicago. ‘We are handling to-day a relatively larger boainess, at a less ratio of ex- bet and wi more limited facilities than most of the other large Western lines, and the demand for transporta- tion, consequent upon the extraordinary development of the territory served by your lines, ‘has taxed those facilities to the utmost, and it is a necessity press- Ing upon our attention that Sonicare Ds sections the main transcontinght line ‘be double tracked in the near ‘uture,”” Most of these statements were em- dodied in the company's report. The proposition to double track the road ot rtant suggestion stockholde ‘The local cotton market opened steady to-day, with prices one point lower to two pointe higher. The early market showed good strength considering tne bearish influences. English cables were lower, port receipts were heavy and Weather conditions were favorable in the South, Yesterday's sell were buyers and commission houses Lought freely. Trading wan fairly active und the market remained steady. The opening prices were: October, 8.63 to Abd! November, 8.61 to $08; Dever ber, 8.62 to 8.63; January, 6.69 February, 868 offered: Starch, ‘© Bo; May, 8.67 to 40; June, Ao7 bid. Banking and Financial. LEASE ATTACKED, Minority Holder of Company Says Stock Transfer Was a “Squeeze,” and He Will Push Suit Begun. ‘The sult brought by Henry D. Laugh- Nn,-a minority stockholder, attacking the validity of the lease between the Chicago & Alton Rallroad and the Chi- cago & Alton Raflway in April, 1900, is taken by Wall street to mean a vigor- ous attack along the linés of the North- ern Securities contest. When Edward H. Harriman, J. Gould, Mortimer F. Schiff, James Stillman and thelr associates acquiref a majority of shares in the ©. & A. road they promptly formed a holding company, called the Chicago & Alton Railway Company, and turned the rail- road over to It for ninety-nine yeats. They placed its capital stock at $0,- 000,000 and gave it a bond isee of $%,- 000,000. Then they transferred to it as the holding company $21,000,000 stock in the C, & O, and that part of the rail- road of the St, Louls, Peorla and North- ern Company lying between Springdeld and Peoria, In payment, Stockholder Laughin avers, they took $22,000,000 of the momt- gage bonds of the Chicago & Alton Rallway Company and $39,000,000 of its common and preferred stock. As in all these deals, they were on both sides, Laughlin asserts that the Harriman-Gould-Schiff-Stillman combi- ation did something ike this: They made the railroads and other properties of the Chicago & Alton Ratl- road Company stand for 322,000,000 in oor porate bonds, and $40,000,000 In corporate capital stock~all through the guise of & “holding” company. “This process," says Mr. Laughlin, “We vulgarly known as a squeese.” He an- nounces that the sult will be vigorously pressed. None of the big financiers identified with the “squeese” would discuss it te day. The process they atu #nid to have co! lod the minority stockholders submi* to, aoweve, ts alleged not to unknown ‘n financi) circles. Former Congressman Grout Dead. ST, JOHNSBURY, Vt., Oct. 7.-aen mer Congressman William W. Grout died here early to-day. Banking and Financia United States Bankers Corporation SAPITAL, $6,000,000. NEW YORK LIFE BUILDING, NEW York. 21 STATE STREET, BOSTON DIRECTORS: 4J.Q. A. BRACK. Pre Jon on Canitaiie) eos WALTER fSAbGE OH. N. BRADY. WILLIAM R. DUNHAM. THOMAS D. ‘TAYLOR, Vice-! D. RUSSELL, President Havel Gl BROWN, Ex-Governor 5B: of Ri Un) Ex-Governor of Mas: ident New En, reaident Unjtes husetts....... ry of the Treasury’ of pata rasa MASS, . New x pana Fru States Rankera Corporation. jode Island; Vice-President City ited States Bankers Cu egy, B. CURTIS, 83% lent om RUES R. BARLOW, Treasurer Mergenthaler-Horton Basket Macuine Co, RMAN, Treasurer United States B: Re N. FL GEORGE C, DARLING, Treasurer New En, (General ankers Corporation id Trust Company ‘ounsel JOHN G. CARLISLH, Ex-Secretary of the Treasury. Registrar and Tranafer Agent: THE CORPORATION TRUST COMP. NY OF NEW YORK. The organization of the United States Bankers Corporation has been effected for the purpose of broadening the benefits of Trust-Compasy Banking. Demonstration of the earning power of Trust Companies and their great and growing usefulness dents of finance predict for ing institutions, is found on every hand, and thoughtful etue them ultimate supremacy over all other bank- Preliminary suggestion of the scope of this Corporation, made with @ view of securing opinions from the volume of correspondence from banking men, ing subscriptions to capital. entire country, has brought a great commending plans and offer This correspondence has shown conclusively that the fleld in which this Corporation can assist is a wide one, will be materially added to by avoiding shares. In pursuance of this half millions of Treasury stock at 250,000 shares of the par value of $10. and that its permanent strength concentration in the holding of its policy the present public offering of two and one par is herewith made, ‘consisting of 00 each. The United States Bankers Corporation is organized under the General Corporation Law; its stockholders, therefore are not subject to extra Ma» bility. Its object {s to assist in establishing Trust and Deposit Companies in forty or more citles of the United States. instance this Corporation will own control of It is expected that in every the Trust Companies so or ganized, and that the alliances so formed will speedily provide a +4 volume of profitable business for each of these Trust Companies, which turn must naturally result In early appreciation in value of the shares of this Corporation. To those who are not familiar with the sources of profit open to Trust ; Companies and dented to all other chartered banking institutions, the following partial list of such sources will be instructive: jal depository for court and other trust funds. ig 28 exectitor, guardian, roceiver, mH care of property. Adting aw fecal’ agent tor corporation Qo registrar and transfer ag: sppolttonent of or intment of 4 ‘Wan ent of estates, Actin, and boi Acting as Furnfehing Assignee OF trustee uuder agreement in issuing and transferring stooke 1 ‘Acti todian of wills and ing sy curtodinn of wills and other valuable papers, in for agonts, executors, admtnistrators, etc. The work of organization is bejng actively carried on, and, cities where existing charters can be utilized, is even now well mani ent of separate estates, in several under way. In offering this portion of the Treasury stock of the United States Bankers Corporation at par, it Is well to invite attention to the is unusual for shares of this character to be offered taped publicly for subserip- tion, therefore, the outline of operations here presented is made ag come plete as possible. assets and income: Securities of Trust Com: resenting the control of suc! cannot be sold ‘The sources of revenue for this of ‘Tru special aystem of work without a majority vote of the ‘Shareholders, ono of values of such securities will be counted increase fol oration will Companies, income trom sale of ee lara of arden The following definite statements are made reganiing held by this Corporation rep- a permanent assets; they Con tock ite of ite than one and ono half millions of Troasury stock will remain ‘Treasury until tho control of at If it should then be dectied Gbove par at which ft will Directors, By these provisions, and many lesser ones, poration and of the individual stocicholders are safeguarded, with the central idea of avoiding concentration, the outside limit gle subscription which will be accepted is 2,000 shares ($20,000). least ten to sell any portion of this Treanu! is, ee ‘be offered must be decided by ‘Tnantmot ry the ‘Trust Companies has the interests tf the Cor | in Conformity ~f a sine} ‘The low- est limit of subscription is ten shares ($100). Subscription books will be opened on October 25th, and allotted. the stock thes In alloting stock the Directors reserve absolute rights of rejection discrimination. of priority. will be promptly responded to, and nished. is » Checks should be drawn to the poration, and addressed: Subscriptions will be received immediately on and ¥ the printing of this announcement, and numbered upon receipt Other conditions being equal, subscriptions will be accepted in Checks or drafts to the amount of one-half must each subscription. Balance payable on notice of acceptance. Requests for copies of By-Laws, Chartei thereog,! strict , accompany] , r, or other descriptive matter all desired information willbe fur! order of the United States Bankers Con. United States Bankers Corporation, NEW YORK LIFE BUILDI IEW YORK crry)