The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-04-01
Average Bond Prices
: BOND NEWS AND NOTES.
<oo,ooo,ooo onerinxs Coming.

The issue OF 100000. GO Of ) per cent
rgfunding and Improvement and mort
c6ge bonds, series y. OF the New York
G@ntral Railroad. approved yesterday by
the Interstate Commerce Commission.
prooably will be offered for public SUBJ
scriptlon at the beginning OF next week
The $30,0O0.000 Czecho-Slovak!an loan
. nnafs be, offered about the middle of next
week according to latest information.
| WASHINGTON, March S1-The Inter
state Commerce Commission gave the
New York Central Railroad permission
To-day to issue and sell $50, 000, 900 in 5
per cent. refunding mortgage bonds at
not less than so per cent. of par. From the
funds expected from the sale the road
will pay off maturing Indebtedness OF
S11.945,000 and put the balance in its
treasury as reimburscments for expen-
citures for bcttermeats OF recent years.
THE Midland Valley Railroad asked
the commission to-day FOR permission
to issue S54i, 900 in bonds. sale Of which
VIII reimburse its treasurs- for eNpendi-
iiIeS made. The Missouri and North
Arkansas Railroad. through it, re-
ccivers, made formal application to the
Interstate Commerce Commission to-day
f6l permission to reorganze by issuing
10000 shares of common stock and S5.-
100000 in 6 per cent. first mortgage
bonds in new company which will ac-
puire ownership of II. The plan has
been tentatively approved by the COM
mission end the subject OF negotiations
ard Investigations has been before the
commission for several weeks. The road
suspended operations last year. Arrange
ments have been made for its resump-
lion. which viii be brought about by
Government loan OF S3.500000 and an
Increase of its revenues from traffic
handled with other railroads. The COM
mission has indicated that IL reorganiza-
Non along tile lines laid out In to-day's
/, publication should be effected the Gov
eminent would advance the $500, 900
and accept the bonds created as coll
lateral for the loan.
-v.rhe New York. New Haven and Hart.
T5fd Railroad Company III a statement
issued last night said:
Z The deposits OF the per cent de.
3cnturcs under the plan Of extension
Tor three years as approved by the In
eerstate Commerce Commission, have
4een decidedly satisfactory. Due in part
10. the difficulty in communicating with
1he many holders especially of the large
humber OF holders OF franc debentu
which are issued in smaller denomn-
htions, II has been impossible to locate
ell the debentures within the short time
~hich has elapsed since March s. when
the plan of extension was announced
Tie directors have. therefore, authorized
h short extension OF the period in which
fhe debenturcs may be deposited. In the
hope that the plan may become opera
yiNe by April 10. The plan can only be-
gone effective II accepted b. the deben-
@re holders with practical uusninity
n no provision has been made for tie
payment or any debeatures. the holders
81 which do not accept the comDanys
1ffer OF extension.
The dollar debentures may be deposit
Yd with the Bankers Trust Company OF
View York. with the Old Colony Trust
Lompany OF Boston or with Drexel &
Co, OF Philadelphia. The frame de-
Ilentures may be deposited with the
equitable Trust Company in New York
Paris or London or with the American
Trust Company IN Boston. or the Rhode
Jsand Hospital Trust Company in Prov
ldcnce.