New-York tribune., 1921-09-21
Days New Issues

An offering of s2,1O0,O0O Province of
Alberta, Canada, ten-year per cent
gold bonds is being made TODAY bv a
syndicate headed by the Guaranty
Company of New York at price Of
80 and interest to yield about $40 per
cent. Other members of the syndicate
are BIyth, Wltter g. Co.: Carstens g.
Earles, inc, of Seattle, and the Seattle
National Bank. Principal and interest
OF the issue are payable in gold in
New York or Canada.
a syndicate composed of Chandler
& Co, r. F. Wilsey G. Co. and Otin
d Co. arc offering to-day a new issue
of $2,500,000 Toledo Traction. Light
and Power Company first lien ner
cent gold bonds dated September /,
l92l, and due December /, 1922. This
issue IS IN connection with a compre-
nenslve scheme of financing upon the
completion of which the company will
own $l2,94000O of the common stock
ana ar Sl,9oo;ooo of the per cent cumu-
lative preference stock of the Toledo
Edison Company; also S7,925 900 first
mortgage per cent gold bonds and
all of the cumulative preferred stock
OF the Community Traction COMPANY
OF Toledo. The bonds are being of
fered at 981s and interest to WELD
about $40 per cent. They are secured
by S4,200,0O0 first mortgage 6 per cent
bonds of the Community Traction Com
pany.
The Union Trust Company of Cleve
land and the National City Company
ar are @ making a public offering to-day of
S2,500,00O of prior preferred per cent
cumulative, Series A, stock of the To-
iedo Edison Company at SO. The issue
is redeemable as a whole or in part
On any dividend date on thirty days
notice at Sis a share and accumu-
lated dividends. The company is re-
quired under the terms of the issue
to retire on each quarterly dividend
date, beginning April /, 1929, at least
l per cent of the largest amount of
the preferred stock at any one time
outstanding, if the stock is rendered
up to $lO5 share. The sale of the
new preferred stock is a part Of the
company's financing program involving
the issuance of S13,500,00O of first
mortgage bonds, $2,50o,oo0 of the prior
preferred stock, and S1,5O0,000 prefer
ence stock, for the retirement of
funded and floating debt and for other
capital requirements. The bond issue
was placed early this week through a
local banking syndicate.
An issue of s2,ooo,0oo State Of Con-
necticut per cent bonds, due in 1886,
was awarded yesterday to banking
syndicate consisting of Paine, Webber
q Co., Watkins & Co., Redmond
d Co., Barr g. Schmeltzer and the
Chase Securities Corporation on a bid
of l03.42. Public offering Of the bonds
is being made to-day at a price to
yield approximately 41a per cent.
Sutro Bros. & Co., New York and
Montreal, are offering an issue of
$ioo,o0O Province of Alberta, Canada,
Guaranteed u per cent gold bonds,
due October 22, 1914. The bonds, a
hrst mortgage on the Edmonton, Dun
vegan and British Columbia Railway
{leased to the Canadian Pacific Rail
way) and guaranteed principal and in
terest by the Province of Alberta. are
offered at IA and interest to yield 6A
per cent.
Brandon, Gordon & Waddell and
Miller g. Co. are offering at 95A and
interest, yielding 7 per cent, 81 ,O0o 900
Province of Saskatchewan Dominion
of Canada) six-year, per cent gold
bonds, dated August /. 1921, and due
August l.. 1927. These bonds are a
direct obligation of the Province of
Saskatchewan, whose net funded debt
is less than per cent of it's assessed
property valuation of $1,000 900 900
They are legal investment for savings
banks and trust funds in Ohio, Con-
neeticut, Vermont aud New Hamp-
shire.
The syndicate consisting of White.
Weld & Co, Brown Bros. e. Co. and
Lee, Higginson 4 Co, which bought
the s13.778,ooo of 6 per cent railway
equipment trusts from the War Fl
nance Corporation at par, is expected
to reach a decision to-day whether
public offering will be made at this
time. 1t was reported yesterday that
the bankers were considering making
a public offering of the car trusts on
a $50 per cent basis.
The transaction. anaouncsd from
Washington yesterday naosrs.as. es-