Business: Connecticut Confession

Stocks not worth the paper they are printed on are sometimes traded on the New York Stock Exchange but they are usually quoted in pennies. Last week a stock selling for $12 per share was stricken from the board on the voluntary confession of the company that its shares were worthless. The company was Connecticut Railway & Lighting, which has 89,772 shares of common outstanding, besides 81,429 of preferred which were not affected by last week's action.

In 1906 Connecticut Railway & Lifting leased its gas, electric and street railway properties for 999 years...

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