OCR Text |
Show TOBACCO COMBINE FORMING. Trust to Have Capitalization of Quarter Quar-ter Billion Dollars. A meeting of the American, the Consolidated Con-solidated and tho Continental Tobacco eomponlos waa held In Jersey City for action on the agreement for the merger mer-ger or consolidation of the three com-panics com-panics which had been adopted by the directors of the Consolidated Tobacco company on September 9, 1904. The plan submitted propeses a consolidation consolida-tion of the three concern! with a total bond and stock liability of about ir,0,-000,000, ir,0,-000,000, something like $110,000,000 less than the sggregnte of that of tho three companies at present. It Is proposed pro-posed that all of the present consolidated consoli-dated tobacco companies' collator.il trust bonda shall be withdrawn and that the only bonda to be left outstanding outstand-ing shall he the 6 per cent and the 4 per cent direct obligations of the new company. |