OCR Text |
Show I v CANNING COMPANY TO RETIRE STOCK The .Morgan Canning company Is about to retire its nine per cent cumulative cu-mulative preferred stock by the issuance issu-ance of bonds bearing six per cent Interest, In-terest, it is understood in canning circles. cir-cles. There has been no official announcement an-nouncement to this el feet. The preferred stock Irt callable on any Interest date at H3. and may be converted Into common stock at ih'-ratio ih'-ratio of three shares of preferred to twenty shares of common. The par value of the common stock is $10 and lh preferred slock Is $00. The- Morgan Canning has an authorized author-ized capitalization of 11,000,000', divided div-ided between "O.OOO shares of common com-mon with par value of $10 and 800Q preferred with a par value of Sluo. The company has no funded debt at this time. |