Evening journal., 1913-08-28
BANKS SELL
COUNTY BONDS
OVER COUNTER
Farmers Bank and Security
Trust Begin Disposal Of
100000 Of Securities
INVESTMENTS TO YIELD
THE BUYERS 4l-2 PER CENT

Two Wilmington banking institutions
the Farmers Bank of the State Of
Delaware and the Security Trust and
Safe Deposit Company today began
selling over their counters 100000
worth of New Castle county bonds. The
banks are actuated solely by a motive
Of helping the county with its road i'm.
provement, city and county building and
new Third street bridge projects, so they
can be started without delay, instead Of
the county having to wait for an uncer-
tain time until the money market clears
sufficiently for the county bonds to be
marketed to advantage.
Not only have the Farmers Bank and
the Security Trust Company bought the
100000 of county bonds at par, and ac-
crued interest but they will be sold to
the investing public at the same price.
The banks will not make one cent of
profit, but will have to bear the expenses
incident TO the sale. The banks will give
the investing public an opportunity TO
lbny substantial securities that will
yield 4 / 2 per cent. until they are re-
deemed by the county.
The Farmers Bank will sell $780,
600 of the New Castle county bonds
for building good roads over its coun-
ters When are bonds were offered
TO New York bankers, they we're re-
luctant 20 buy at this time because
of stringency of the money market.
II was then that the Farmers Bank
officials stepped in. They realize the
benefit of good roads, and feel that
{ better highways could not be proyid-
ed any too soon They believed that
: of all the projects the building of
2 good roads as the greatest benefit
to the greatest number should come
first Hence the Farmers Bank
bought The 100000 of road improve
ment bonds, and will sell them at par
and interersr and under terms that
will appeal to the small investor as
well as the possessor of abundant
means.
The Farmers Bank has devised a
plan whereby persons whose money
is not immedlately available. who de-
sire to buy one or more Of the bonds
] may deposit an order for the money
with the Farmers Bank, which will
issue q certificate of deposit for tbs
amount OF and based on the order
bearing interest at the rate Of -four
and one-half per cent BY this meth
cd savings can be applied to the purt
chase of a bond or bonds without de
lay. but this must be done prior t
December /, of this year. The Far
mers' Bank also has another plan
! whereby prospective purchasers o
bonds may make deposits of Sl00 oi
multiples thereof toward the pur
chase price of bonds, for which GER
}. tificates of deposit bearing interes
at four and one-half per cent will b.
issued, but the entire bond or bonds
must be paid for by December /
! This will be of assistance to the in
a vestor whose money may be availa
z BILE i'm portions between now and De
! cember /, as deposits of 500 or mul
!. tiples Of s100, may be made from
i. time to time prior to December ! un
: til the bond is paid for.
n These features doubtless will becom
3 very popular. going hand in hand a
\ they do with the chance for the publ
{ to get gilt edged security bearing a.
r per cent. interest The bonds are in de
nominations OF 81 900 each. They Wi
n be offered only at the Wilmingto
branch of the Farmers Bank, the off
4 cials of which will be glad to explai
n any details of the sale.
$ Already the Farmers Bank has sol
$50 900 Of the 100000 issue, and toda
Il several inquiries came in, one bein
5 from q society that viii probably il
q vest in the bonds.
At the Security Trust and Safe ID
posit Company this morning it wa
= stated that the interest shown by II
\ public in the bonds was most gratif,
, ing and large number Of the bone
(. had been sold The first block. of bon,
II delivered to the company were pract
v cally subscribed for before they wei
received by the bank. Most Of the pc
sons buying the bonds are doing so f
y investment They are regarded by the
u purchasers as absolutely safe inves
7. ments.