. Review of reviews and world's work . f the Amer- Stockholders . , to Furnish icau I obacco Company is to beNew Cash j^^^ .^^ ^y ^ ^^^^^ ^^ ^^^ present holders, freqrently referred to as the in-siders. But they are to be called upon tosubscribe at par to $36,651,925 new commonstock of the corrpanics to be organized andwill receive in the nature of a dividend thetwo-thirds of the capital stock of the R. C on pany, now owned by tlie Amer-ican Tobacco Conpary. The latter willthus be able to pay off its present outstand-ing bonds, and will be left with $52,549,400preferred stock, to wh
. Review of reviews and world's work . f the Amer- Stockholders . , to Furnish icau I obacco Company is to beNew Cash j^^^ .^^ ^y ^ ^^^^^ ^^ ^^^ present holders, freqrently referred to as the in-siders. But they are to be called upon tosubscribe at par to $36,651,925 new commonstock of the corrpanics to be organized andwill receive in the nature of a dividend thetwo-thirds of the capital stock of the R. C on pany, now owned by tlie Amer-ican Tobacco Conpary. The latter willthus be able to pay off its present outstand-ing bonds, and will be left with $52,549,400preferred stock, to which voting rights willbe given, and $40,260,400 common stock asits only outstanding secvrities. Attorneysfor the Tobacco Tru^t point 01;t that noneof the four companies will in effect tave anyinterest in or relation to the others, althovghat the outset they will all of necessity havemany stockholders in common. Two-thirdsof the stock of the United Cigars Stores Com-pany now owned by the American Tobacco THE PROGRESS OF THE WORLD 537. 538 THE AMERICAN REVIEW OF REVIEWS Company will be distributed to the latterscommon stockholders. The Imperial To-bacco Company of Great Britain and Irelandand the British-American Company Ltd. havebeen bound by contracts with the Amer-ican trust which forbid them from doingbusiness in the United States, except in buy-ing leaf tobacco. These contracts will beterminated, leaving each of the foreign com-panies free to compete in this country. Thelive accessory companies which the Su-preme Court found to constitute combina-tions in restraint of trade are to be dividedup into ten different companies in muchthe same way that the American TobaccoCompany itself will divide • its domesticbusiness. „ .. With the Tobacco Companys How the ,. , . , • 1 1 f/(in Wf(s fieen dissolution ]:lan as It has been, Received ^^\^^~^{iiq^ xo the Circuit Court most of the security-holders are said to besatisfied, and there are many authorities whohold the opinion that
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Keywords: ., bookcentury1800, bookdecade1890, bookpublishernewyo, bookyear1890
