The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-04-29
By OSCAR H. FERNBACH.'

SAN FRANCISCO, April 2S.-Thc
inhabitants Of more than 100000
American hornes in which may be
found one or more of the publica-
tions of the Hearst organization
tomorrow morning are to be given
business relation than ever before
with William Randolph Hearst.
They, as well as the rest Of the
American public. OF whom, in all,
! one Of every three families reads
Hearst newspapers and Hearst
magazines, win have the chance to
subscribe to an issue Of $4,000, 900
first mortgage and collateral trust
6h per cent serial gold bonds,
offered by Hearst Publications, Inc.
Small Amounts Available.
These bonds will be issued in de-
nominations which will enable the
small investor to participate in their
purchase.
The offering comes through the
Anglo-L ondon-Paris Company of San
Francisco, headed by Herbert Fleisn.
hacker and Halsey, Stuart & Co.,
Inc, Of New York and Chicago.
Behind these bonds lies a security
conservatively estimated by experts
at more than $40. O00, 900, represented
by the San Francisco Examiner, the
San Francisco Call and Post, the Los
Angeles Examiner, the Los Angeles
Evening Herald. the Oakland Post
Enquirer, and the Good Housekeep-
ing. Cosmopolitan. Harper's Bazaar,
Motor and Motor Boating magazines.
These are the component units of
Hearst Publications, Inc, which
represent but a portion of Hearst g
vast editorial enterprises and which
IL legally established under the laws
Of the State Of California.
And as eliminating security
for the bonds, they are backed by
the personal guarantee Of William
Randolph Hearst, which means that
in addition to the properties above
enumerated, all his vast assets be
come part Of the pledge that makes
the issue gilt-edged.
Security is Unusual.
The Offering to be made of this
bond issue tomorrow was heralded
yesterday by the declaration OF
the bankers who are financing II
that the public for a long time
has not had the opportunity tc
subscribe to a. loan with safe
guards as substantial as those
surrounding this one.
| These safeguards were dwelt or
yesterday by Herbert Fleishhacker
president of the London and Paris
National Bank, in announcing the
Forthcoming issue in detail. He
said:
| These first mortgage and col.
lateral trust 6h per cent serial
gold bonds will be sold at par.
They will be dated May /, 1924,
and will mature annually at the
rate Of $1,100,0 900 of the principal
amount from May /, 1926, to May
| /, 1885, inclusive, and $1,00O,0O0
of the principal amount May /,
1886. Interest will be payable
semi-annually.
| II regard this loan as one of
the safest put out in a long time.
''The security behind 1t consists
of some of the choicest real estate
in San Francisco and Los Angeles,
appraised by experts at $500 900,
or nearly so per cent of the
amount of the bonds to be issued.
In addition to this, the security is
five of the best newspapers and
five of the best magazines in the
country, whose value, outside the
real estate mentioned, is put by
experts at more than $35, 200, 900.
'These publications in the past
have had most remarkable
record, and the stability and sue
cess of William Randolph Hearst
are a guarantee of the future.