Erie Telegraph and Telephone Company Faces Financial Crisis
The Erie Telegraph and Telephone Company informs shareholders of a severe financial condition. It has sold negotiable notes totalling about 9 million dollars to meet maturing debt, with interest from July 10 1901, due January 10 1902. No cash or securities remain to cover those notes, and funds are unavailable for needed plant improvements. A reorganization plan by Kidder Peabody & Co. is proposed to protect security owners, especially junior ones, and is recommended for acceptance. Boston December 19 1901. By order of the Directors Philip Dexter Vice-President.
MENTIONED IN THIS ARTICLE
Old Colony Trust Company
Erie
Erie Company
Messrs. Kidder, Peabody & Company of Boston
Plan for the Reorganization of the Erie Telegraph and Telephone Co
Plan outlines formation of a new company to acquire assets of Erie Telegraph and Telephone Co. with $16 million capital, paying $9 million notes, exchanging bonds for new 5 percent bonds due 1932 and 1982, and offering current stockholders rights to exchange stock for preferred and common shares. Kidder, Peabody & Co. to manage underwriting and sale to American Telephone and Telegraph Co. for control. plan dated December 19, 1901.
MENTIONED IN THIS ARTICLE
Erie Telegraph & Telephone Company
Erie Company
Present Erie Company
Kidder, Peabody & Co
American Telephone and Telegraph Co
Tex Ril Lac Eaegg
Michigan Telephone Company
Stockholders form committee to back Erie Telegraph reorganization
A shareholder circular announces a committee to oversee the plan by Kidder Peabody & Company for Erie Telegraph and Telephone Company. Stock deposits are invited with National Shawmut Bank as agent. deposits by January 8, 1902, may advance the reorganization, with expenses covered from new stock proceeds. The committee includes James P. Stearns and other Boston and Lowell bankers.
MENTIONED IN THIS ARTICLE
James P. Stearns
National Shawmut Bank
Boston
Ss. R. Anthony
Tucker, Anthony & Co
Frank B. Bemis
Estabrook & Co
George R. Richardson
Prescott National Bank
Lowell
Richard M. Saltonstall
Gaston, Snow & Saltonstall
Bondholders urged to deposit Erie Telegraph bonds for reorganization plan
Holders of Erie Telegraph and Telephone Company bonds invited to deposit their holdings with National Shawmut Bank as agent to pursue Kidder Peabody plan of reorganization. The committee will decide terms and securities, with deposits due by January 8, 1902, and returns if not declared operative within six months. Many large holders already approved the plan.
MENTIONED IN THIS ARTICLE
National Shawmut Bank
Kidder, Peabody & Company
Reorganization Plan for Erie Telegraph Bonds 1901
Bondholders urged to join a Kidder Peabody plan as outlined in a December 19 1901 letter. They are asked to deposit bonds with National Shawmut Bank Boston as agent to enable action on the proposed reorganization plan. Committee vacancies will be filled by remaining members and operative when a reorganization is reasonably assured.
MENTIONED IN THIS ARTICLE
Erie Telegraph & Telephone Company
Kidder, Peabody & Company
National Suawmut Bank
Congress Street
Boston
Erie Voting Trust
National Shawmut Bank
Market Active and Buoyant in Sugar Lifts Copper Stocks
The New York market rallied with Sugar leading gains as a wide advance spread to copper shares. Strong short-covering and optimistic rumors buoyed traders, while Amalgamated, Reading, Missouri Pacific and Union Pacific posted notable advances. Old Dominion and Utah climbed as Parkin son & Burr stepped in as buyers. Calumet & Hecla recovered, and copper stocks were favored amid talk of a January boom and looming London price gains.
MENTIONED IN THIS ARTICLE
New York
Boston
Congress
Sugar Trust
St. Paul
Wall Street
Reading
Missouri Pacific
Union Pacific
Amalgamated
Old Dominion
Utah
Parkinson & Burr
Tamarack
Calumet & Hecla
Osceola
Quincy
Calumet and Amalgamated
Whiich
London
Chicago
Tle
Dulness
Time Money
Morigane
Apearing House Teig
Bree IV
TONGS
Ccc
Keene
Colonel Johns
Birmingham
Ala
Cape Breton
Dominion Coal Company
North Sydney
Cardiff
A.L. Ripley
State National Bank
Devonshire and
Water Streets
Bank of the Commonwealth
State National
Hide and Leather Bank
Shawmut
National Shawmut Bank
Boston & Maine Railroad
Maine Central
Montreal
Trimountain
Arcadian
Joplin
Poston
Krausse
William MacCurdy
MacCurdy
Heath
Market Report: Boston Closing Prices of the Day
Boston on December 26 reports the day’s highest and lowest sales, along with the closing bid and ask prices. The summary lists the top and bottom figures and the final market quotes for the session.
MENTIONED IN THIS ARTICLE
Boston
Amalgamated Copper Declares One Percent Dividend
Amalgamated Copper Company directors declare a dividend of one percent payable January 27, 1902 to stockholders of record at 3 p.m. December 27, 1901. Transfer books close 3 p.m. December 27 and reopen 10 a.m. January 13, 1902. Secretary and Treasurer William G. Rockefeller announces.
MENTIONED IN THIS ARTICLE
Amalgamated Copper Company
WM. G. Rockefeller
Christmas Dinner For Sailors At Charlestown Haven
Sailors from Boston Harbor area vessels and ocean liners filled the Sailors Haven in Charlestown for a Christmas dinner marking the tenth annual event. About 350 seamen, from veterans to apprentices, enjoyed turkey, vegetables, fruit, pies, and tobacco given to each man, with distribution by local church women. After dining, guests heard musical entertainment in the chapel and speeches by Superintendent Staunton H. King, Bishop Lawrence, and other church leaders. The Sachem’s officers and crew attended for the ninth year.
MENTIONED IN THIS ARTICLE
Jack Tar
Haven
Charlestown
Boston Harbor
Bishop Lawrence
Staunton H. King
Lawrence
Sachem
Comedy and a Dance by Swedish Vega Association at Clarendon Hall
Upward of one thousand attended the 20th annual entertainment and dance by the Swedish Vega Association in Copley Hall. A three act comedy My Rich Uncle by August Blanche opened the program with Ellen Anderson praised. The hall cleared for dancing after, led by C Ludwig Gyberg and Mrs Alma Shinquist, with about 50 couples on the floor under Rudolf Berger and a team of assistants.
MENTIONED IN THIS ARTICLE
Swedish Vega Association
Copley Hall
Clarendon Street
August Blanche
Ellen Anderson
M. S. N. Mellin
Seven Killed in Fierce Samar Fight
Manila December 27 Captain Schoeffel with 18 men of Company E Ninth Infantry fought a large bolo force at Capday Samar. A brutal hand to hand battle left a sergeant a corporal and five privates dead. Cap tain Schoeffel wounded. Five privates dangerously and one slightly. No property lost. The enemy was repulsed with heavy losses.
MENTIONED IN THIS ARTICLE
Manila
Schoeffel
Ninth Infantry
Capday
Island of
Samar
Miss Dobson Bail, Accused in Father Shooting at Irving Street
Florence Dobson, held on a $1000 bail by Charles F. Watkins, is accused of shooting her father after a Christmas family dispute at 39 Irving Street Somerville. He is badly wounded but stable at Somerville Hospital. Florence, 21, was arrested after the incident and released from East Cambridge jail with her mother and sister in attendance.
MENTIONED IN THIS ARTICLE
Cambridge
Florence Dobson
Irving Street
Somerville
Miss Dobson
Charles F. Watkins
West Somerville
East Cambridge
Watkins
Miss Dowson
Somerville Court
Dobsons
Iit
Dobson
Mary A. Dobson
Somerville Hospital
Charlestown
Boston
Carter
Police Department
Lottie
Florence
Helen
Robert J. Dobson
Robert
Eugene H. Gammon
George A. Miles
249
Elm Street
Miles
Gammon
Carr Company
Elmwood Street
Also Mentioned on This Page
Erie Telegraph and Telephone Company
Philip Dexter
The
Shawmut Bank
Kidder, Peabody & Company, Securities of the New Company
Samuel Carr
Wilmot R. Evans
Frederick A. Farrar
Atlantic Minee
Bingham Con M
Bos & Albany
Boston & Low
Boston & Me
Cal & Heela
J & Stk
Dom Coal
Dom Ir & Steel
Edison E Illets
Eric Tel & Tel
Fitchbur
Franklin
Gen Electric Eee
Guanajuato
Mass Electric
Michigan
Gas & Coke
Ny, NH & H
Old Colony
Parrott Min Co
Pere Marquette
Eee
I . Phil & Adgist Pref
Phenix
Seers
Pullman Co
Ode Island
Santa Fe
Seattle
Elec Severe
tSwiftt & Co
United Shoe M
Victoria
West End St Ry
Westing Elec
Winona
Wolverine
Boston Stock Sales
Tel & Tel
T& SF
Bur & Mo
Tel & & Tel
NEW York Stock Exchange Railroads
St Est
Atchison
Baltimore & Ohio
Canadian Pacific
Canada Southern
Chesapeake
Ind & Louis
Chicago & Gt Western
Chicago & NW
Chicago, Ril& Pacific
Chi Ter & Trans
C & St Louiss
Col Southern
BSG
Delaware & Hudson
del, Lack & Western
Denver & RG
Erie Eeeeresee
Hocking Peat
Eevenvens Do
Illinois Central
Louisville & Nashville
Manhattan L
Va Minn & St Louis
Agban & Texas
NNJ Central Y
Norfolk & Western Do
Ontario & Western
Pennsylvania
St Louis
San Fran
St Louis S W
St Paul
Southern Pacific
Southern Railway
Texas & Pacific
Eeeereres
Wabash
Am Car & Foundry
Eenee
Consolidated Gas
Continental Tobacco
General Electric
Glucose Sugar Ee
International Paper
International Power
Pacific Mail
Republic Steel
U S Steel
Western Union
Uhlstmas
Vega Association
Rudolf A. Berger
August Langell
Charles Dannenberg
Osea Wederbrand
William Anderson
George Carleson
C. F. Johnson
Andrew Mortenson
Diamond Studio
Miss Ellen Anderson
Horner
Alma Lindquist
Father
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