The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-11-20
BANKERS OFFER
Penn UTILITY
BONDS
Harris. Forbes q Co. Head
Syndicate Placing 81. ooo.-
600 Issue on Sale

NEW YORK, Nov. 2O.Harris,
Forbes and Company and e. H.
Rollins and Sons are offering q new
series Of 100000 Penn Public
Service Corporation first and re-
funding mortgage 5 per cent bonds,
series d, due December /, 1854, at
a and interest, yielding over $40
per cent. The bonds are callable
at los and interest through Deceln-
Der |, 1910, thereafter at a pre-
MUM decreasing to 1904 and in
terest during the last year Of life.
The first and refunding mortgage
bonds. Of which s15,75O,OOO win be
] outstanding. are secured by = di-
rect first mortgage upon the Seward
and lockwood power plants, to-
gether with substantial amount
Of other important property. rhe
proceeds Of this issue Of s per cent
bonds will be used in part to re-
fund 81, $3.50, 900 series "B" ~ per
cent bonds, which are to be called
for payment ON January, /, 1925,
and tS fzsitlal1l = Il No. hflflany in
p.rt for expenditures already made
for foparty additions.
TIRE THEATER-G George M. For
man 4 Co. are offering today new
real estate loan consisting of ST.
100000 81 per cent first mortgage
serial gold bonds of the IRE Theater
store and office building callahan 4
Kat's new theater). The bonds are
dated October rs, 1924, and mature
serially 1926-I934. The bonds are
being offered at 500. The bonds
are secured by a first mortgage on
the building Qand, building and
equipment), located at 1749 Howard
street, Chicago, ILL.,, owned in fee.
The value of the land and completed
building and equipment has been
conservatively appraised to be in
excess Of $500, 900.
A new issue. of $1,00O,000 Central
Iowa Power & Light Co. z per cent
convertible general mortgage gold
bonds. series A, is being offered
by A. c. Allyn & Co.. and Stroud
4 Co. at 100 and accrued interest
to yield per cent The bonds are
dated November /, 1924 and are
due November /, 1884. Central Iowa
Power & Light Co. will own and
operate the electric and gas proper.
ties now owned and operated by the
Citizens Gas & Electric Co., Cedar
Valley Electric Company and North
ern Iowa Gas & Electric Co. now
furnishing without competition,
electric light and power in forty
seven communities in central and
north central Iowa. The net earn
ings Of the properties to be owned
by Central Iowa Power & Light Co.
for the twelve months ended August
81, 1924 as shown by the balance
sheet for that period were more
than 5k times the annual interest
requirements on all outstanding
bonds
A syndicate headed by Bauer,
Pond, and Vivian, Inc, of New
York city, have sold all the bonds
Of a new issue of $S5O,O00 Hubbard,
Eldridge and Miller, Inc, first
mortgage fifteen-year per cent
sinking fund gold bonds dated No
vember /, 1924, maturing Novem-
Der l. 1884. at 100 to yield z per
cent
These bonds are issued FOR the
purpose of effecting q consolidation
of Hubbard, Eldridge and Miller, of
Rochester, N. Y, Binghamton Chair
Company. of Binghamton,a NJ ";
Parkersburg Chair Company, of
Petersburg, w. Va, and the Peru
Chair Company. of Peru, Ind.
STRATFORD, Conn. - Remick,
Hodges and Company are offering
$4,000 Town of Stratford, Conn, 4
per cent coupon bonds due 1927 to
1892 at a price of 100.25 and in!
terest.
"iptin- hooks ha1a been
closed on the issue of $4,000. 900
Sinclair first lien collateral 6 per
cent gold bonds, series C, offered
by Blair and Company, Inc, Chase
Securities Corporation. Kissel, Kin
nicutt and Company, J. & w. Selig-
man and Company, Spencer Trask
and Company, and Janney and Com
pany. the issue having been over
subscribed.