The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-08-08
BANKERS PLACE
ARGENTINE
BONDS
Money to Be Used in Paying
OFF Maturing
Notes

NEW YORK, Aug. s.-Announce.
ment was made yesterday that a
syndicate headed by Blair & Co.,
has placed privately $4,000, 900 Ar.
gentine Government six months 5
per cent treasury gold notes. The
other members Of the syndicate are:
Chase Securities Corporation, Cassat
& Co., Halsey, Stuart & Co., Inc,
and The Illinois Merchants Trust
Co. The notes are dated august
l. 1924, mature February rs, 1925,
ana were sold at a price to yield
80 per cent. These notes are
issued to refund the Governments
6h per cent six months treasury
notes falling due on August rs.
The sale OF the notes permits the
Argentine Government to realize
sufficient to pay off the maturing
8 AS at par and pay for the new
financing. The ease in money con-
ditions enabled the South American
country to obtain terms considered
impossible earlier in the year.
Reports that the Dominican Gov.
eminent is negotiating for a new
loan of $10,000,000 were confirmed
by bankers yesterday. Proceeds of
the new loan are to be used to
retire and 6h per cent bonds of
that country now outstanding in
the hands Of the public and for
public improvements. The Domini-
can Government financing in the
past has been divided between the
National City Co., and Lee, Higgin.
son & Co., and it could not be
seen which Of the bankers would
underwrite the issue. 1t is said that
the new issue will carry an interest
rate of 5 or 5h per cent.
A. B. Leach & Co., Inc, Halsey,
Stuart & Co., Inc, the Northern
Trust Co., the Detroit Co., Inc,
and Wells-Dickey Co., are offering
a new issue Of $1,6SO,0O0 Des
Moines. Iowa Independent School
District Az per cent and Az per
cent bonds, dated August /, 1924,
and due August l, 1944.
Horwitz & Co. and Pendergast &
Co. are offering 100000 Green's
boro, N. c., Ak per cent street i'm.
provement bonds, due serially $780,
600 February 1, 1926 to 1885, inclu-
sive, to yield $50 per cent to 4.45
per cent, according to maturity.
The Lawyers Mortgage Company
40 OAASA AAA6 a AACW 4SSdS Va SOVUauUV
guaranteed mortgage certificates Sc.
cured by new nine.story and base
ment, brick and stone, elevator
apartment house at No. 47-55 East
Sixty-sixth street, between Madison
and Park avenues. This issue nets
5h per cent and natures in ten
years.
c. W. McNear & Co. are offering
$400 900 CITY Of Oklahoma Citv
Okla, 5s due 1898 to 1941, yielding
4.4o per cent; $25O.O0O City Of
Wichita Falls, Tex, 5hs, due 1941
to 1850. yielding ABS per cent;
100000 Alexandra, La, school dis
trict IS, due 1889 to 1864, yielding
AIS per cent; $4,000 City Of Hous-
ton, Tex, 5s, due 1943 to 1949,
yielding 4.50 per cent; $4,000 Pike
county, Kentucky, 5s, due 1881 to
1884, yielding 4.65 per cent, and
$4,000 Fairfield county, South Car
DINA IS, due 1914 to 1854, yielding
AIS per cent.
Robert Blahut, dealer in bonds
and corporation stocks, at so Broad
street, is offering a block of $780,
900 Republic of Salvador customs
lien per cent sinking fund gold
bonds, series c, at a price Of soy,
to yield $50 per cent.
The directors Of the Phillips Pc
troleum Company have authorized
an issue Of 370,133 shares Of it's
capital stock Of no par value to be
offered to it's stockholders at $32
per share. This brings the total
capitalization of the company up to
1,S50,666 shares. Blair & Co., Inc,
have underwritten this offering to
the stockholders.