New-York tribune., 1921-02-05
100000, 900 i'm New
Financing I'll ere As
Expected Next Week
Principal Offering VIII BE
s35. ZOO. 900 Twelve-Year
7Per Cent Bonds of Gulf
refining Co., Say Bankers

VAL street banking houseseare ar.
...ging the underwriting of industrial,
rai,road and foreign government Sc
.<r,.v issues to bs brought out next
r-.ss involving an aggregate OF up
...r5s of sloo 900. 900 in new financing.
Th;s will follow the aotation Of moro
t,an $3.50, o,oo0,ooo in new bonds and
s,tes in this market during the last
fortnight.
The principal operation the coming
r.sek will he an issue of SSe.oo0,0Go of
srslve year z per cent bonds of She
Gulf Refining Company. Tie bank
In. institutions underwriting the Of
fsring are the Guaranty Trust Com
.sny the Union Trust Company, Of
,his and Ralsey, Stuart & Co., of
Tih;cago. Several other houses will be
sssocisted with these institutions in
the formal offering. The proceeds viii
ha used in meeting nisturities and pro-
v;ding additional working capital.
plans for financing 100000 900
oeunds OF the surplus of copper held
6v American producing interests, to be
bsb until il can be marketed abroad,
are are rapidly taking form and the
amount of the operation, it was
harmed Yesterday, will run between
$50 900, 600 and $40,o00,000. 1t is ex-
necfed that one so five year notes will
4 issued Ca be secured by copper as
collateral. The notes will be retired
ss The copper is sold. The Guaranty
Trust Company and the National City
Company of New York are the prin-
ciuals in the transaction.
The most important piece of rail-
road financing will consist of an issue
Of S15.00o,000 Of ten to fifteen year
eE per cent bonds of the Chicago
Northwestern Railway to provide for
bond maturities, including $10.00o,0o0
Of thirty year sinking fund debenture
s5.Do0.000 of Milwaukee, Lake Shore
& western Railway consolidated mort.
gage 6s, due May next.
The Atlantic, Gulf & West Indies
Steamship lines have practically closed
with the banks for the underwriting
OF an issue OF approximately $15,o00,-
coo Of 715 per cent marine equipments
TO nay for the construction Of addi-
tions TO the tank steamers Of it's oil
subsidiary.
While some details remained TO he
settled in the projected $4,000 900
Joan to the Chilean government, il is
believed that the transaction will be
ready for making formal Offering
toward the end of next week This will
provide Chile with funds for railroad
construction and other uses.
Other financing operations under
negotiation include Si0,000,000 pub
lie utility issue Go be handled by the
Guaranty Company Of New York. Re-
ports current yesterday indicated that
ii United States Rubber Company
would come into the market shortly
with fair sized issue of bonds.
Subscription books for the sl2,ooo,-
900 Tide Water Oil ten-year 63s per
cent bond issue were closed inmedi-
ately after opening, 1t was announced
yesterday, applications having exceed
ed the amount of bonds available.
Tucker, Anthony & Co. announced
Yesterday the offering Of S914.000 Man
chester Traction, Light and Power Com
pany first refunding mortgage sinking
fund gold per cent bonds, due August
/, 1862, at 96A and Interest," to yield
about 7.30 per cent. The bonds are
issued to refund q like amount of con
solidated mortgage 5s, due April /,
1921. after which date the new bonds
will be secured by first lien on the
property.
The Equitable Trust Company of New
York is requesting offers to sell to the
sinking fund notes due under the Union
Tank Car Company equipment trust
agreement, dated August 2, 1920, to ex-
haust the SUM of S451 900, at price