Silversmiths Co.—A special meeting of this corporation will be held In New York, December 22, to vote on a plan of reorganization reducing the present capital stock of $8,000,000 by one-sixth, the new stock consisting of $4,000,000 preferred and the balance common. A holder of 150 shares of present stock, in the event of the plan being accepted, would receive 75 shares of 6 per cent cumulative preferred stock and 50 shares of common stock. If the present dividend of 4 per cent on the common stock Is maintained, the holder would receive annually $650 in dividends, as against $600 now. The object of the change Is said to be to take care of the financing of the Whiting Company of Bridgeport, Conn., a subsidiary of the Silversmiths.
Source: United States Investor - 12th December 1914