New-York tribune., 1921-12-16
l;tv's 50-Year
Stock Brings
Record Price
=, oco. .6f0 Sold 80 Nor
ssu X Go. Syndicate
sor loS. .407: Offered To-
day to Yield AS z. c.
To,sI Bids s2l8, 900, 900
ro,ap,rolIcr Craig. Highly
Elated. Points Out Wis
dam in DELAYED Plans

vork citv's frst venture in long
snsncinp in several years. tnvolv-
NlA sss sale Of ssS.oo0n10 of ~ per
'as ''ss Sstv-vssar corporate stt 2n. met
81 - ,;-nal success veste rday. when a
W., W., Stvast syndicate headed by J. 2.
s pa. : ca bought the whole issue
= sn;r;ted competition en- an "all or
~.sss hid Of l0S 4e7.
ssns srnssmntroller Charles L. Craig. highly
,s+.s aver the result attained, said
s..s sws records had been broken, one
~ respec1 TO the huge total Of bids
r~-.;ved and the other with respect TO
- ,reuium over par. which is the
.sSasst ever received by the city for
ma elass Of stock On the basis on
,~s;ch the bonds we're sold the citv nets
rrsu,iurs Of approximately $I.S0o 000
ne nrer,iu7n Of S.4o7 points over par
.htsiuad for the Issue uparsd with 8
nvsn,iurn OF f5a7 on the last previous
s.sss;on of s4-. SOC coo IF 44es, in 1917.
4ftar the bids had been opened the
Fametroller said ne would issue q
.tstsnent later showing the "signiti-
esncs Of The resul; IS compared with
mat would have happened last spring,
when the city was imnortuned and al
noss eoerced into fNating Z bond issue
nns5ss per cent basis" This was q
tsrust at some Of the Wall Street bank
ers who advised the city early last
Sanlner TO refund q portion Of its float
faz debt With permanent issue Of cor
sorate s.ock
Formal Offering To-day
The successful syndicate, headed by
tae Morgan Trm an7 having as its other
msnbers the Chase Securities Corpors-
aon. the First National Bank. Tie Ma
sional CITY Conrary OF New York. the
Bankers Trust Company. Brown Bros.
{ Co. and Harris Forbes & Co, IS
making q formal offering Of the bonds
70 Investors to-day ~ a price OF 1G4%
% oyield more than i 25 per cent. After
the results Of the sale had been an
aounced yesterday the bonds sold on
the curb On when issued" basis st
le5
Two Other syndicate bids for the wh ole
sssue wer@ received bv III COMPTROLLER
Kuhn. Toeb & Co. Dillon Read Z Co.
and Kidde~P Pea body hid f0S0771 for
all or none. 4 Group consisting of
Blair L Co. Inc, Ha1l-srten & Co. w.
z. Com~-a7 & Co. White Weld & Co,
Eisses. Ki1nicutt & Co. the New York.
Trust Company and the Central Trust
Company submitted & bid OF f02. .55i.
Other Bids Made
Besides Masking ire "alI or none bi5
saat w0D the awNr I'd. the MORGAN svndi-
cate pot in a I'D Of 1aaat fer ail or
ssy part Of the Issue The Kuhn, Loen
Co. s-ndicate also submitted an al
's-T1c-re bid OF l01 fer all or any part
4 tae issue.
SFeyer s. Co.. the Bank Of The Man
'attan Co-ensnv A 3 Leach & ca and
9ominirh F. no'rinick bid in conhina-
ron for 500 HnN 600 of the bonds a.
allNws: e ooo Hno at 1os.75 s5 900 oeo
4 fo2 * ss "oo 300 at 1895 and
5000 no0 - 1o94
Among the other bids were the fol-
ewing.
Eo,nt2e Iros.. s2oeo GOO in lots Of
= 1oi-T re7.o7 sn@ 7ol 81
sreeVe Id.-a7ar. 500. Nea at lo2.At3.
tEaeri~ar T~''sg Co. $50 600 at mar
T.. Fsnfers ~''~J Co. $4,000 AZ 1896 ana
{. = WAR & CO. $50 600 at 1880.
IN s-asf'ie2l National f5ank. $1,000 500 at
}. Johnston & c.. $1,000 ooo at 100.
leon5o At l00it and 1880 eoo al 100.
sStrc Eros. q Co. s. o00. 0oo AT }n2.5l.
GOT ham Nat.Snai Bank. $500. eco e.
". Martin & CO. $4,000 At Iol.5o.
foha Clucf1,7au $50 nr6 at fao75
lean Z Agr~v 81 600 at 102.s
siar'ield National Rank. $50. 900 at TOO
Farmers Loan and Trez. Co. s500 q,
Rsrnick Hodzes & Go. xfo, 900 at to4el,
81 Gao a 102.4 and $40 600 sr IN2 os
R0binsoa & Co 8 900 eco IN sl1G 900
a.s from lol-281 10 les 60.
1echa Mrs 7arz Of DroHklyr f0eo aoO
s-oe aoa lets rom lo0.7S 10 1ql
'iaeooe lots at l02.s75 TO TOP 5s5
Fidelity Inrerrs rlona! Trust Co. $500. oGo
= 'sys cf son COS At ioo.so 100000 al
$50 and Sloo oo0 AZ lnl
$4,000 aI 1928 800 90 at io349 and
!9aF lots os 500 900 each from loZ.5o IL
The Rank fo~ sav;ngs o. New York
. 500 eco al l02.51.
sas Passss AqsSoh s4ss s.5a ;25 ss@ oS' a. 10 loa
si. ssra Exchange Bank. slo.ooo 0eo at
W Prssspr.cn. $500 ooo IN 500. occ
ots from i OF SO ~ 103
Firss National Bank of Brooklyn. s1oo. eot
z. Nauraeerg & Co. s5o.o at 1861
austin G. 2amsey $40 900 at 1O2iz
Joion 6 Co. 500, 600 al 100 %.
ooraon &. Todd K Co.. SO. 0oo at l01. oil
u Italian s! Savings Bank. $500 900 st
u Union Exchange National Bank. 81 .Ooo.-
The aggregate of bids received FOR
sae so9,oo9 .1o0. according TO the Comp
rulers figures, vas S21S,s0S,I0o