| Show AMALAMATEll UOAF New Company Incorporates 4000000 Capital PROPERTY WORTH 2200000 ew Corporation Will Take Tip Certificates Cer-tificates of the Ogden Logan and Lagronde Companies and Issue Now Certificates on Proportionate Basis Two Shares of Preferred to One of Common Stock Speculation as to the Price of New Securities in the Open Market Q 0 0 0 0 O Week Week O ending ending O O Juno 23 July 1 O 0 Hank clearings J30SS9I1 J31G0170 0 Realty transfers JSuOT 70S3 O 0 Building permits > 2r0 100W < 2 O 0 0 Q O O O O O D < 0 There is much conjecture among Investors In-vestors and brokers as to the price ut which shares In the new Amalgamated Sugar company will be sold The company com-pany tiled articles oC Incorporation with tIe Secretary of Stale yesterday authorizing au-thorizing a capitalization of 1000000 divided Into 10000 shares of the par value of 5100 each The officers are David EcclCH president Thomas D Dee vicepresident Henry I Kolapp secretary and Charles W Nlbley treasurer Tile directors are Messrs Eccles Dec Nlbley Joseph F Smith Fred T Klesel Hiram II Spencer JSphriam P Ellison Joseph Scowcroft Adam Patterson Joseph Clark and George Stoddard Jt Is not at all probable that the authorized number of shares will be Issued Is-sued and local capitalists arc of the opinion that the issue will Include only such number us are necessary to take up the stock of the Ogden Logan and Lagrande companies on the basis proposed pro-posed This would be 18100 shares of preferred and 1050 shares of common stock As 6 per cent dividends arc guaranteed on the preferred stock It 5 likely it will sell pretty close to par For the common the value will depend to a large extent on the coming statement state-ment of the company and the declaration declara-tion in regard to dividends If an early dividend on the common stock is promised local brokers arc of the opinion that the shares will command from 55R to SHO Offers were made yesterday of SoO for the common and SOS for preferred The prospect of early consummation oC the deal with the trust interests lost week sent the stock of the three companies com-panies to 230 lfiO arid S12o respectively respective-ly the exact figures forecasted several weeks ago Logan even went higher loo being freely offered yesterday According Ac-cording to the terms of the consolidation consolida-tion each 100 shares of Logan stock will be exchanged for 130 shares oC referred and Co shares of common in the Amalgamated Sugar company At the expected quotations on the so curlticb of the new concern they would rjake Logan stock today worth at least 51CO and holders are in no haste lo accept the 150 offered by Mr Eccles The basis of consolidation of the three companies provides that 200 shares of preferred and JOO of common Block In the new company be exchanged for 100 whores of the Ogden Sugar company com-pany 130 of preferred and 05 of common com-mon for 100 shares of Logan stock and 100 preferred and GO common for 100 shares of Lagrande As there have 10cc Issued MOO shares of Ogden 5000 of Logan and 5000 of Lagrande this would require the Issue by the new company of 15100 prefcrrtd shares and OnO common lo replace the stock taken up Whether any additional stock will be issued and placed on the market has nol been announced Assuming that these shares will command com-mand 100 and WO respectively In the open market the tolal valuation of the company will be 22G2500 This is not far from the valuation represented by time quotations on the stock of the three companies yesterday With Og den at 250 Logan at lfii and Ligramic it 125 the combined value of these concerns con-cerns is 220500 It should be remem bored however that these figure are fully 20 per cent In excess of the quotations quo-tations prevailing six weeks ago before the purchase by eastern capitalists was contemplated AK to the probability of dividends on the common stock It Is pointed out that the three conntituont companies paid lo their stockholders 5141000 In divi deeds In 1901 The guaranteed Income of C per cent on the 18100 shares of preferred stock in the Amalgamated company will require 105000 and If time earning were equal to last years there would still remain 35000 undivided undi-vided almost enough to pay a 4 percent per-cent dividend on the common flock The saving effected in the administra tive expenses through having a single management instead of three will it is urged further add1 to the earnings of the new company It is upon this expectation ex-pectation of dividends that the brokers brok-ers base their expectation of selling common shares above SCO |
