The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-06-20
SMALL ISSUES
PLACED ON
MARKET
Rock Island Notes Purchased
Private by Banking
Syndicate

NEW YORK, June 20.-Speyer
& Co. and Dillon, Read q Co. nave
purchased from the Chicago, Rock
Island and Pacific Railway com.
pany. subject to the approval Of the
Interstate Commerce Commission,
1O,OOO.O0O of the company's five
year 5 per cent secured gold notes
due July /, 1929, to be secured by
the pledge Of $4,000. 900 Of the COM
pany's first and refunding mortgage
per- cent bonds with 20 per cent
margin to be maintained. The issue
has been disposed of privately and
no public offering rs anticipated.
The proceeds Of the notes are to
be used to redeem 100000 Of the
company's 8 per cent notes to the
Director General Of the Railroads
and for additions and betterments
and other corporate purposes.
HalSey, Stuart & Co., Inc, an.
nounce the successful sale Of $4,000.
900 first mortgage per cent bonds
of the Kentucky Hydro Electric
company which is constructing q
dam on the Dix river in Kentucky.
The Dix river is the first In the
State to be put to work for the
transformation Of water power into
electricity. The Middle West IT'LL
ties company has also been identi.
fled, has obligated itself to furnish
any additional funds that may be
required to compete the project
through the purchase Of capital
stock Of the Kentucky Hydro Elec-
trio company.
A syndicate composed of Lehman
Bros, White, Weld & Co., Blair 4
Co., Inc, J. & w. Selignan & Co..
Ames, Emerich & Co, Hayden,
Stone & Co., Curtis & Sanger and
Dominicl1 & Dominick are offering
a new issue OF S2,11B,O00 State Of
New Jersey Az per cent Highway
Extension bonds dated July /, 1924.
and due July 1, 1854. The bonds
are being offered at 102N and In
terest to yield about 4.05 per cent,
to the optional date and Az there.
after to redemption or maturity.
Solomon Bros. & Hutzler have
purchased $4,000, 900 notes Of the
State Of Massachusetts. dated June
20, 1924. and due November 81,
1924, on 2.S5 per cent interest
basis.
Harris, Forbes & Co. and Coffin &
Burr, Inc, are making a new offer.
ing Of $1,500,00O Texas Power and
Light Company first mortgage 5
per cent gold bonds. due June /,
1887, at 95 and interest, yielding
about 5.S5 per cent. Texas Power
and Light Company does the entire
commercial electric power and light
business In ninety.nine communities
and serves electric power at whole
sale in eleven communities in q
wide territory. The first mortgage
bonds are secured by a direct first
mortgage upon all the property,
rights and franchises Of the COM
pany.
Hayden, Stone g. Co. announces
that the issue of $1,000, 900 San An.
tonic Joint Stock Land Bank 5 per
cent bonds, due May /, 1929, op-
tional May 1, 1888, has all been
sold and the subscription books
closed.
P. w. Chapman q Co. and Halsey,
Stuart & Co. are offering an add.
tional issue Of $1,100.000 East st.
Louis and Interurban Water COM
pany first mortgage and refunding
(now first 6 per cent gold bonds,
series "B" dated July l, 1917, and
due July /, 1912. The East st,
Louis and Interurban Water com.
pany supplies water without com.
petition for domestic and industrial
purposes to the city Of East st.
Louis and adjoining communities.
The bonds are offered at 96A and
interest to yield about 6.S5 per cent.