The Washington herald., 1922-06-02
SUBSCRIPTIONS TO
CERTIFICATE ISSUE
TOTAL s375,OOO,OOO
Syndicate Announces New
Bolivian S24,000,000 8
= Per Cent Loan.

Secretary Of the Treasury Mellon
has announced that subscriptions
for the 81 per cent Treasury eerti-
ncates Of series TD2-1s22. closed
yestsrday at noon.
Preliminary reports received from
the twelve Federal Reserve banks
indicate that the Offering, which
was for 5000. 900. geo. or thereabouts.
has been oversubscribed. and that
total subscriptions aggregate about
s375.c0o. 900 All Of the Federal Re
serve districts have reported over
subscriptions of their quota.
A survey of local banks yester-
day Indicated that in most cases the
entire subscriptions had been al
lotted.
New Bolivian Loan.
Spencer Trask and Company. the
Equitable Trust Company Of New
York; Stifel-Nicolaus Investment
Company. Hallgarten and Company.
Halsey, Stuart and Company, In
corporated. E. II. Rollins and Sons.
Cassatt and Company. Kissel. Kin
nicutt and Company and ]. and w.
seligman and Company are today
offering s24.0O0.00 Republic of Bo-
1ivia External twenty-five year Sc
cured per cent sinking fund gold
bonds. due May l. 1947. at 101 and
accrued interest. The principal and
interest of the bonds are payable In
United States gold and are exempt
from all present and future Bolivian
taxes The bonds are not callable
for fifteen years. On any interest
date on and after May l. 1887. the
Bolivian government has the right
to retire the issue as a whole at
los and interest The bonds are
also-redeemable in part at the same
price on May l of each year beg n
ming 1888. through the operation of
the sinking fund. APPLICATION will
be made to list the bonds on the
New-York Stock Exchange
Besides being a direct obligation
of the republic of Bolivia and Sc
cured by a first mortgage upon i'm
portant railroad Ines now being
constructed and others about to be
constructed. one of which will give
Bolivia direct railroad connections
with Argentine. the loan will. upon
completion Of present financial op-
erations. be a first len and charge
upon all import and export duties;
upon the governments continuing
the
Banco de la Nacion Bolivian (Na-
tional Bank of Bolivar and the
dividends declared upon such stock
upon 30 Ger cent of the tobacco mo
nopoly. and upon various other I'M
portant sources of revenue. II the
foregoing taxes and revenues
should at any time be insufficient 70
meet the service of the loan. the
govsrnment to provide the defci,
out 'of its general revenues.
Washington Securities.
June was inaugurated on the
Washington Stock Exchange with
one of the heaviest sessions Of the
year Sales Of bonds with a face
value. of $4,000 were reported in
addition to free selling of stocks.
AR the utility bonds moved ur
fractionally. Railway As to T4iz
Potomac debentures 6s to 1OO1a. Ga:
5s to ?5. Capital Traction 5s at 81
and 9SL. while other utility issues
were held decidedly strong.
A stsature of the trading in stocks
was the revival of activity in Lans-
ton shares. a number of transac-
t:ons heing made at IS to 7sH.
Railway preferred crossed 20 and
sold at 70L. while the common
was strong at 40.
Capital Traction firm at SO and
Washington Gas at 55.