New-York tribune., 1921-12-29
Days Ne,o Issues

OikCilHS VI q AOdil VI 4Ioui Ss-V,OUO,VUO
to s25, 100000 of the Department of the
Seine, France, is scheduled shortly
after the opening of-the new year. A
banking house which has been identi-
fed with French financing in the past,
although not with French government
business, submitted the high bid for
this issue, proceeds of which are to be
used on expansion Of tramways and
other public utilities in the depart
ment. Contracts have not yet been
signed, but the deal is regarded vir-
tually as good as closed.
Halsey, Stuart & Co., Lehman Broth
ers and Goldman, Sachs & Co. are Of
fering to-day at 9S1a and interest, to
yield about 6.10 per cent, a new issue
of $3,S00,O00 San Antonio Public Serv-
ice Company first mortgage and re-
funding thirty-year per cent bonds.
The issue is non-callable during the
first ten years of it's life. The COM
pany, which is under the direction of
the American Light and Traction Com
pany, has made net earnings averaging
s774,66s during the last five years.
Discussion of Dutch East Indies
loan struck snag yesterday, when
ment at The Hague would expect
tenders to be submitted to-day for Il
per cent bonds in an amount up to
$100,00000 The government also
stipulated minimum price that would
be acceptable, but this, while not sat
isfactory to some of the bankers, inter-
csted, was not regarded as presenting
such an obstacle as did the require
ment for immediate bids. There is no
prospect that the loan could be fioated
this week, and to hold it over would
prove Improbable. Gables undoubted-
ly will go forward asking change in
the date of opening bids and few
tenders will be sent in to-day.
A syndicate composed Of Eldredge g.
Co, the Mississippi Valley Trust Com
pany of st. Louis and the Mortgage
Trust Company of Dallas was reported
to be the high bidder for a block of
$1,250000 City Of Dallas one to forty
year 51s per cent street Improvement
bonds offered yesterday. There was
some confusion about the result, how
ever, and no award was received.
Eldredge Co. yesterday was award
ed an issue of 100000 one to forty
offering will probably be deferred until
next week.
The State of North Carolina will
open bids tomorrow on $4,000, 900
fourteen -and-a half-year average 5 per
cent maximum school bonds.
Talk Of the Dominion of Canada
borrowing in London instead of this
market is regarded in some quarters
as put out merely for American con-
sumption. Other bankers feel, how
ever, that there is real danger that
the business may GO to the other side,
especially as American bankers have
not yet presented terms which Canada
would consider. They are confident
that the American market will! be
thoroughly sounded before London
gets the business.
Stockholders Of the Brooklyn Edi-
son Company yesterday voted at spe-
cial meeting authorization of the is
Guance of not exceeding $4,000, GOO
vebenture bonds in one or more series.
At the same meeting it was voted to
tncrease the capital stock of the COM
Ssny from $19,ooo,0oo to $3O,OOo,oO0.
The Eighth Avenue Railroad Com
pauy made formal application to the
Transit Commission yesterday for ap-
4roval OF it's proposed issue of $1,000
GOO five-year per cent mortgage
PONDS, submitting as collateral its two
parcels of real estate at Fifteth Street
and Eighth Avenue. The proceeds OF
+ the mortgage would be used to meet
maturing short-team obligations. Her
bert S. Worthley, on behalf OF the
Corporation Counsel, objected, on The
ground shat the traction situation is
In such a state of uncertainty that the
commission was uncertain.