The Washington times., 1922-08-29
WAR
BONDS ARE TO,
BE CONVERTED
Large Number of Dominion
Victory Issues Held in !;
This Country.
BY MUNROE ROBERTS.

Copyright. 1922. by Cosmopolitan Nevis
Service.) VI
NEW YORK. Aug. 2s.-The Ca.
madam government has published 4
statement granting to holders of do-
ninion of Canada 5h per cent. Viz
tory bonds OF 1922, maturing on De-
cember 1. the privilege Of converting
these bonds into others bearing the
same interest rate and maturing In
1927 and 1882. Those who take ad-
vantage OF this privilege between
now and September 80 will be given
an additional full months interest,"
This Is an unusually liberal offer, and
one which will doubtless be taken adr
vantage of by most, II not majority
,of the holders Of the Canadian bonds
. A large number of these bonds are
held on this side of the Canadian bor-
der, some Of them having been ae-
.quired on issuance during the war
land others purchased in the open
market at a decided advantage be-
cause Of the low rate which has been
prevailing in Canadian exchange. a
little over two years ago, exchange
on Canada could be purchased at y
discount Of as high as Is per cent,
which meant that Canadian par
bonds were purchased at IS. Consid-
ering the 15.point advance in esr
change. and the coupon payments Of
5h per cent in addition, investors
In these bonds have realized a hand
some profit. H
American bankers are still in 40
tive negotiation with the Argentine
government in the hope. Of arriving
at a basis at which bond issue from
$50. 900 900 to $150,000, 900 can be
placed in our market. 1t Is UNDER
stood that bankers here have sibmit
ted bids to the Buenos Aires govern.
ment for loans Of $50,000,0 $780,;
proceeds of which are very much
needed in order to meet nearby ma.
turtles. One of the difficulties In ar
ranging for this new loan Is the de.
termination of the Argentine off,
ycials to secure more favorable terms
than no wseem to be possible Tor a
foreign government.
On the listed bond market this,
week weakness in French bonde
has been one of the outstanding
features. While the cause for this
Is doubtless linked UP very closely
with the reparation , tangle, II -
hardly logical that French 8 per-
cent bonds should sell at from 10
to Is points below the bonds OF
other European nations. Weakness
has also reappeared in the bonds oi
the French cities of Bordeaux.
Lyons and Marseilles, which have
declined as much as 4 per cent ir
single day, an unusually heavy
setback for a prime security. Euro
pean cables report similar weak
nesses on the London Market
caused by apprehension over drastic
action Of : the French government
in the reparation dispute. Et4
A new issue of $1,500,O00 tx per
cent sinking fund gold bonds Of
the Rosemary Manufacturing CONF
pany, makers of cotton table dam
ask, is offered today by a group
headed by Otis and Company. The
company, together with it's SUBJ.
sidiary, the Roanoke Mills Company,
both located at Roanoke Rapids,
N. c., owns and operate five miles
equipped with 97,51S spindles and
2,776 looms. In addition to being
a first mortgage on the properties,
the bonds will be secured by a"
pledge Of 1920 shares Of "a total
authorized and outstanding issue 6fs
60, 900 shares of Roanoke Miffss
Company common stock. -