The New York herald., 1921-04-05
BONDS FLOW BACK
TO BRITISH OWNERS
Securities Enlisted to Estab-
lish Credit Here to Be
Returned.

Millions Of dollars worth Of gilt edged
American securities. which We're gath
cred up by the British Government from
its nationals at the outbreak of war 10
enable the Government to borrow money
In the American market. will be re-
turned to their owners on July 1. ac-
cording to information which reached
local bankers yesterday. The British
owners of these securities have the
choice of having them returned intact
to their strong boxes. or of selling them
in the American market. Bankers an
ticipate that many will elect to be paid
In American dollars.
Returns of common and preferred
shares of stock, most Of 1t railroad
stock, will be made July /. July 10 and
July Is. Those securities are in the Gus
tody of j. p. Morgan & Co. and have
been on deposit here since 1916
The back flow of American securities
to British investors is one OF the curious
phenomena Of the postwar financial re-
adjustment. The British Investments in
American securities were enlisted for
the duration of the war. and having ac-
complished their purpose--furnished
large credit here on which the country
could borrow liquid funds-will now be
returned
According to the official notice issued
by the National Debt Branch office In
dividual three months notice VIII be
given to investors that their securities
will be returned. They are asked to
notify the British Treasury Department
what disposition to make of the securi-
ties, whether to return them or whether
to sell them in the American market.
The full list of investment collateral
which will be returned from the United
States repositories and to owners on
July l follows:
Bonds-Rangor and Aroostook Railroad.
st. John River extension 3 per cent. first
vice Company first and rofunding per cent,
1852 Central of Georgia Railway first mort
gage 5 per cent. 1915: Chicago Railways
Company first mortgage per cent. 1927
Cuba (Repubiic Of internal 5 per cent,
1s49, series a; Erie Railroad Pennsyl-
yania Coal Collateral Trust per cent,
per cent. Park, 1885; Havana Electric Rail-
way consolidated mortgage per cent,
1852; Japanese Government per cent; loan
of 1905; Kings County Elevated Railroad
first mortgage per cent. 1919; Maryiand.
Delaware and Virginia Railway Company
6t ness e sen ana 9S 1I
cry Division first mortgage per cent,
1917 New York Central and Hudson River
Railroad Lake Shore Collateral Trust 81.
per cent. non-assented. 1893; New York
Central Lines Equipment Trust AZ per cent,
1928; New York Central Railroad Michigan
Central collateral 3ia per cent. 1893; New
York Central Railroad Company eonsoli-
dated 4 per cent, 1898. series A; New
York Getty OF Corporate Stock new Aque-
duct) 3k per cent, 1854 Norfolk and West
tern Railway improvement and extension
mortgage per cent, 1884; Ontario Power
sinking fund per cent, 1913; Puget Sound
Electric Railway Company first consolidated
mortgage per cent, 1882 Sault Ste. Marie
Bridge Company first sinking fund per
cent, 1887: Toronto, Grey and Bruce Rail-
way first 4 per cent, 2ss2 Wabash Rail
road second mortgage fifty year per cent.
1899; West India Electric Company Ltd,
first per cent, 1928.
Stocks.--Atlanta and Charlotte Air Line
guaranteed capital stock. Baltimore and
Ohio Railroad per cent. non cumulative
preferred: Chicago, Milwaukee and st. Paul
pany per cent. cumulative preferred; Bald
win Locomotive Works Z per cent. cumula-
ttive preferred Illinois Central leased lines
per cent: Morris and Essex Railroad cap
ital stock per cent. guaranteed. Pitts
burgh Fort Wayne and Chicago Railroad
cent. first preferred: Tunnel Railroad OF st.
Louis common.
To be released July f0-Atlantic Coast Line
Railroad common. Mount Carbon and Port
Carbon Railroad per cent. guaranteed
stock. Schuylkill Valley Navigation and Rail-
road common.
To be released July f5-Chicago and North
western Railway Company common; Chi
cago and Northwestern Railway Company
per cent. non-curlulative preferred.