The Washington times., 1924-08-04
CANADIAN RAIL
STOCK ON
SALE
Bankers Offer $4,000. 900
Issue Of Canadian
Pacific Railway

NEW YORK, Aug. New H.
nancing showed a decided increase
today when several large new is
sues were offered to the public.
Cne of the most important was the
100000 issue Of the Canadian
Pacific Railway Co. per cent per-
petual non calIable consolidated de-
benture coupon stock at 81 and
interest, to yield about 4.94 per
cent. The offering is being made
by q syndicate headed by the Ma
tional City Co. and the Guaranty
Co.
The 4 per cent consolidated de.
benture stock is authorized by act
OF Parliament Of the Dominion OF
Canada passed in 1889 and subse-
Quent acts. BY the terms OF the
act the stock Is first charge upon
railways, works, rolling stock, plant,
property and effects Of the COM
pany, excepting lands received by
way OF subsidy, subject however,
to the payment of working ex-
penses, and to certain priorities in
respect to charges, which as Of
December 81, 1923, consisted of Sc
curities aggregating approximately
$3S, 64l, 724 issued in respect to only
1912 miles Of railroads, while the
lines embraced in the Canadian Pa
cific railways traffic returns ag-
gregate 1861 miles. The inter-
est on the consolidated debenture
stock is therefore a first charge,
subject to the above mentioned
priorities, upon the net earnings Of
the company derived from the opera
ton OF its railway lines.
Halsey, Stuart & Co., Inc, are Of
fering a new issue Of SIS, 200, 900
first mortgage collateral 5 per cent
gold bonds, series B, due 1854, OF
the Commonwealth Edison Com
pany of Chicago at q price of 9Sh
and interest, yielding about $40 per
cent. The company is the largest
steam electricity producing COM
pany in the world, serving the en-
tire city Of Chicago. The proceeds
Of the sale Of bonds viii be used to
partially reimburse the company
for capital expenditures heretofore
made.
First National Bank OF New York,
Kountze Brothers; Lehman Broth
ers, Hallgarten q Co., White, Weld
q CO.; Graham, Parsons & Co.;
Blodgett & Co., Barr Brothers &
Co., Inc; Phelps, Fem & CO., and
Ames, Emerfch Il Co., is offering a
new issue Of $8,510,000 City Of Balti-
more, Nd, 4 and 8 per cent regis
tered stock. OF the issue, 81 1885,, 900
4 per cent water and school stock
maturing 1925 to 1892 is being
offered to yield from 3.25 per cent
to per cent; and 1851, 900 5 per
cent general inpT oyement stock due
1893 to 1912 is being offered to
yield Ais per cent.
The Equitable Trust Co. Of New
York, Solomon Bros. & Hutzler, and
Edw. LOwber Stokes & Co. are
offering new issue of $2,426,000
City OF Ottawa, Ontario Capital
of the Dominion of, Canada) per
cent gold bonds, due 1925 to 1854,
at prices to yield from S.75 per
cent to 400 per cent, according to
maturity. The bonds are issued
for civic hospital, water works and
other municipal Improvement pur-
poses.
A. M. Lamport & Co., Inc, Otis
q Co. and Howe. Snow & Bertles,
Inc, are offering a new issue of
81 ,100, 900 Charleston County, s. c.,
6k per cent road and bridge bonds,
due serially 1926 to 1914, at prices
to yield from 1856 to 4.60 per cent.
A group of bankers, including
George HI. Burr & Co., B. j. Van
Ingen & Co., Butter & Co., ]. g.
White & Co., Inc, Citizens &
Southern Co. and j. III. Hillsman
& Co. are offering today $3.50 900
City Of Miami, Fla, Az per cent
gold bonds, due serially July L,
1885. to and including 1854, at
prices yielding from ass to 4.7O
per cent. depending upon maturity.
These bonds are issued for the
construction of hospital and in.
Generator plant, sewers, bridges and
street improvements in the CITY
of Miami, Fla, and CONSTITUTES
direct obligations Of the entire CITY.
payable from an unlimited adj
valoren tax levied upon all Of the
taxable property.
u