The Washington times., 1924-11-26
UNITED POWE R
BONDS ON
SALE
Additional SIS, 900, 900 Issue Of
United Light and Power
Bonds Offered

NEW YORK, Nov. 26.-An addi-
tional issue Of $5,OOO;OOO United
Light & Power Company gold de-
bentures 5h per cent, series Of
1924. is being offered by Bonbright
4 Co. These debentures are dated
May /, 1924, and due May 1. 1874.
and are issued for the purpose of
providing for the acquisition Of
over rs per cent Of the common
stock of Continental Gas & Electric
Corporation. In addition, sufficient
holders OF the remaining shares
have accented an offer to exchange
their holdings for preferred and
common stocks of the United Light
q Power Company to assure, the
ownership of not less than 95 per
cent OF the Continental Gas &
Electric Corporation common stock.
The United Light & Power Com.
pany, or It's predecessor, has for
many years controlled and operated
properties furnishing a diversified
public utility service in ninety.
seven prosperous and growing COM
munities in the Middle West
These debentures are offered at
9h and accrued interest, to yield
over 6.S5 per cent.
Moore, Leonard & Lynch and
Bauer, Pond & Vivian, Inc, an
nounce that the subscription books
have been closed on the offering OF
Sleeper Radio Cooperation common
stock.
The Chicago, Milwaukee & st.
Paul Railway announced Monday II
had anticipated a $685. 500 note due
the Government and met the pay.
ment in advance, thus saving 4
per cent on the money. The note
Was not due until January 10.
1t is also understood the road
has cash on hand to pay 50 ,00O, 00(
interest obligations which will come
due the first of next month, and
an official of the company states
that no difficulty is expected Ia
meeting other interest payments
coming due the early part of next
year. Meeting of these obligations
Is pointed to as evidence of the
strong financial position the road
is in due largely to the great in
crease in traffic in the Northwest
this year. The statement of earn
ings for the month of October and
and the ten months of the year
Is expected today at noon, and ac-
cording to estimates made by those
close to the affairs of the road will
be ample to meet all fixed charges.
Net income, it is understood, will
run well ahead of September, which
was the best month of the year.
Heavy traffic in grain and other
freight is expected to help the earn
ings OF the present month also, al.
though its is believed October will
be the best month of the year, as
the usual seasonal decline in freight
traffic is gradually setting in. Holi-
days of November also help reduce
the car loadings Of all carriers.
Shipments of corn are getting un-
DER way and business is booming, an
official Of the road recently stated.
The unusually heavy yield of the
Northwestern farms has helped all
Northwestern carriers, and the high
prices have vastly increased the
buying power of the farmers of
that section of the country.
Beside its own main line, the st.
Paul has been able to handle a
large part Of this increased traffic
through its two recently acquired
short lines, the Chicago, Terre
Haute and Southeastern line be-
tween Chicago and Westport, Ind.
The system has also recently acquir-
ed the Chicago, Milwaukee and
Gary railway. line of ninety-six
miles connecting the Terra Haute
division with the Illinois division.