davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald., 1924-11-29
NEW .ORLEANs COTToN

NEW ORLEANS, Nov. 2s.-The cot ton market developed a reactionary trend in today's session. Although there was a slight advance at the start of about 10 points on active months prices soon turned easier mainly on larger crop ideas encouraged by rather big private crop estimates. There was a moderate rally near noon on Secretary Testers report on mill takings for the week which were larger than expected and the close showed a moderate re- covery from the low figures of the day.
 Liverpool was slightly better than due, the market opened at a slight gain and soon traded 9 to 10 points above We'd nesday's close. A rather large private estimate of the crop started liquidation and some straddle selling which caused prices to ease off rather rapidly, the decline being helped later by another crop estimate still larger than the first. There was slight rally in the late trad ing and the close showed net losses for the day of 39 to 41 points.
 The decline was mainly due to larger crop views. The downward trend was started by an estimate by a well known Texas authority of 13,1 ,000 bales based on the governments estimated yield per acre.
 It was reported there was good trade buying on the scale down which absorb ed a liberal amount of contracts. The downward trend was checked by Secre- tary Hester's report showing mill talk ings for the week to have been 468,000 bales against only $50, 900 bales last year. The exports for the day totaled 89,095 bales and for the week 272,831 bales.
 NEW ORLEANS COTTON
 NEW ORLEANS. Nov 2S.-Cotton futures closed steady at net decline of 39 to fl points,
The Birmingham age-herald., 1924-11-29
COTTON LOWER
 ONLIQUIDATION
Selling Deve!eness On Or. Re Re ports Of Larger Crop
 Estimates

NEW YORK, Nov. 2s-The cotton market was lower today under liquida- tion and local or southern selling ap- parently due to larger crop estima ates and rumors of a slightly easier tendency in some of the southern spot markets. January contracts sold off to 23.43c, a net decline of 47 points and closed at 23.52c. The general market closed steady at net declines of g to 3S points.
 The market opened steady at un- changed prices to a decline of points, notwithstanding the fairly steady show ing of Liverpool over the local holiday. Early offerings were well taken by cov- ering and trade buying on scale- down, but selling became more active in the early afternoon, December de- clining to 2327c and March to 23.80c, or A to- 48 points net lower. The market steadied at these prices on covering for over the weekend, but the close was only 10 to 12 points up from the lowest.
 Conflicting reports reached here con- corning the spot situation. Local trad CTS seemed to be looking for some fall ing off in demand after the filling of November commitments and were evil dently disposed to credit the talk of a slightly easier basis. On the other hand, continued trade buying was reported on a scale-down and there was probably some buying toward the close on a be- lief that the technical position of the market had improved during the past few days.
 Two private crop estimates were is- sued. One placed the yield at only 12,- 704,000, or slightly below the recent gov- ernment forecast, the other pointing to a crop of 13, 400, 900 bales, attracted more comment and probably accounted for some of the early selling.
 Private cables from Liverpool said the market was quiet, with traders awaiting further developments in the American markets, but with the tone steady on trade calling.
 Exports today, 9S,O95, making 3,O76,O16 so far this season. Port receipts, 26,554 United States port stocks, 1,476,SS9.
 NEW YORK COTTON
 NEW YORK. Noy. 2S-Cnttan futrres elosaa
The Birmingham age-herald., 1924-11-29
WHEAT STRONG
 BUT UNCHANGED
Reports UT AfgenClHe Frost OvercOmes Early
 Decline

CHICAGO, Nov. 2S.-Although tenn porarily ingnored, frost reports from Argentina had much to do with strength which developed in wheat prices today after an early decline. Late dispatches indicated that severe damage to crops had been done in south and west Ar gentina. The wheat market here closed steady at the same as Wednesdays fin ish to K higher. December. $1.54S Co 154h; May, S1.62N @1.62A; corn, l to 1hc up; oats varying from decline to Ac advance, and provisions unchanged to a rise of SIC.
 At the first the wheat market was dominated by reports of favorable prog ress of the harvest in northern Argen- tina and by lower quotations at Liver pool. It was said also that the weather throughout the rest of Argentina had turned warm. Subsequently, word came that half of the wheat crop in southern Argentina had been irreparably injured by frost and that the crop in western Argentina was also badly hurt. Bulges in price, however, failed to hold well.
 Estimates that deliveries of wheat next Monday on December contracts here perhaps would amount to as much as 5,000,000 bushels were something or a handicap to friends of higher prices Apparent slowness of new export busi- ness acted also as considerable Of weight. On the other hand, higher prices for corn after the first hour of trading had effect as a rallying influ- ence on wheat.
 Scarcity of offerings, with commission houses buying more freely did good deal to put strength into the corn mar ket. Complaints of poor quality of the new crop, especially in South Dakota, received particular attention. Oat trades was narrow. Provisions were respon- sive to grain strength.
The Birmingham age-herald., 1924-11-29

NEW YORK, Nov. 28.-The general ist of curb securities was carried into zhigher ground today by heavy buying $o $of the oil shares in broad and active trading.
 Standard Oil of Nebraska and Stand ard Oil of Ohio were leaders of the Petroleum group, the former advancing IS points to 260. Standard oil of Ohio added to its jump of Wednesday with another rise of S1a points to 372; the shares being in continued demand on prospects of a stock dividend and a split up of the shares. Others in the group to score were Solar Refining, up B; Humble Oil, up 2A; Vacuum, up 1%, and Ohio Oil, up IF. Prairie Oil and $Gas and South Penn oil were excep- lions to the upward movement each los sing a point. Public utilities shared in the forward stride of trading, Amer lcan Gas and Electric gaining points No 113 and Cities Service, IF to 169. Consolidated Gas of Baltimore, when issued also added a point to its pre- vious close.
 Pittsburg Terminal Coal common was in demand, advancing 2% to 63A. Cleveland Motor moved up 1h and rail issues were featured by a rise of 1A in Nickel Plate common shares.
 The radio shares showed a strong tone and the baking issues were well bought
The Birmingham age-herald., 1924-11-29
DRY GOODS

NEW YORK, Nov. 2s-Trading in cotton goods was quiet. today with prices holding steady. Additional fin lshed goods orders came forward from wide area. Yarns showed little changes. Raw silk stiffened and is now back at the top prices for the year, the impelling forces being higher prices at Yokohama and on the bourse. Knit goods for fall 1925 were becoming active as new lines of knit underwear were being priced and shown. Linens held steady with the holiday trade fair. Do- mestic wool markets were very firm, though less active this week, due to high prices and a dearth of offerings of wanted grades,
The Birmingham age-herald., 1924-11-29
STOCK UPSWING
 AGAIN IS LED
 BY NDUSTRIALS
Heavy Buying Orders In fuse New Life Into
 Trading

NEW YORK, Nov. 2s.-Bullish opera tions were resumed with renewed vigor in the stock market today, prices sweeping forward under the leadership of representative industrial issues. Heavy accumulation of bying orders of the Thanksgiving holiday infused new life into trading which ignored three ad- vances in the call money rate to per cent during the day and gained in creased velocity as sales expanded.
 Tangible evidence of business inn provement reflected in reports of in- creased operations in the stel industry and the favorable October earnings statements of the railroads contributed to the strength of today's market.
 United States Steel again assumed leadership of the advance, selling ex- dividend $1.75 share, it more than re- covered from this deduction and reached price equivalent to the highest level since 1917. It closed with a net gain of 1h points on the day. Other steel shares participated in the advance, many of them eclipsing their previous high records.
 Eighty-two 1924 high records were es- tablished on sales of approximately 2,400,000 shares, a volume of business which has been exceeded only two or three times since election. At the close of trading the price average of repre- sentative industrials was in new high ground for the year, but that of lead ing railroad issues failed to equal its 1924 high level, recently attained.
 Demand for the industrial stocks was unusually broad, embracing in addition to the steel shares, many prominent motor, merchandise, chemical, food, public utility and copper issues.
 Among the many stocks from these groups to record low maximum prices were Studebaker, Maxwell B, May Stores, Mallinson Silk, Allied Chemical, the Commercial Solvent issues, the American Smelting, Texas Gulf Sul- phur, United States Realty issues and Savage Arms, net gains ranging from 1 to points.
 Called upon to absorb heavy volume of realizing sales, the market still main tained its equilibrium, although prices of some of the most active issues taper ed off slightly at the close following the rise in money rates. Several of the rails yielded to profit taking, although heavy buying of Baltimore and Ohio, Frisco, Kansas City Southern and Vest ern Pacific preferred carried these is- sues to new top prices.
 One of the many interesting develop ments of the day was the rise in call money to 4 per cent, the highest rate since May 26. Shifting of funds in- cident to month-end requirements led to calling of loans, and three advances were made in the rate during the day after renewal at 21s per cent. Time money and commercial paper rates re- mained unchanged.
 Foreign exchange trading was fea- tured by an advance of ten points in French francs to 5.38c, which followed announcement that informal discussions the French debt to the United States. Dutch guilders sold at the highest point in five years, about IS points above parity, and demand sterling held steady around $#.6SA.
 Stock harket aVeraRes.
The Birmingham age-herald., 1924-11-29
WOOL QUOTATIONS

BOSTON. Nov. 2s-The Commercial Bulletin tomorrow will publish the fol lowing wool quotations:
 Domestic, Missouri 1a-blood, 62@63c 9s-blood, 63@64c; Ablood, 6Sc.
 Secured basis. Texas fine, 12 months (selected), $1.6591.67; fine, months $1.40@1.50.
 Pulled, Delainss. $1.65@1.7o; A, $1.6oG 1.65; A supers, $1.40@1.45.
 Mohair, best combing, S0@s5c; best carding, 70@75c
The Birmingham age-herald., 1924-11-29
VEGETABLES

CHICAGO, Nov. 2s.-Beans: Louis lana hampers, green, $4;00Q4.25; wax, $4.OO@45O; Florida hampers, green, $4.0O Q4.50; wax, $4.50Q5.00.
 Cucumbers: Florida bushel hampers and crates, $5.OoQ5.50.
 Egg plaAt: Florida crates, $3.50@4.0o.
 Peppers: Florida crates, $5.00@5.50.
 Sweet potatoes: Tennessee hampers, S225m25O,
The Birmingham age-herald., 1924-11-29
LIHERPnnL CorrnN

LIVERPOOL, Nov. 2S.-Cotton spot quiet; prices steady. Strictly good mid ding, 14S9d; good middling, 14.04d; strictly middling, 13.S4d; middling, 13.59d; strictly low middling, 13.34d; low middIing, 12.S4d; strictly good ordinary, 12.44d; good ordinary, 11.S4d. Sales, 5000 bales, including 4,O00 American. Re ceipts, 24,000 bales, including 23,30O American. Futures closed easy. No vember, 13.12d; December, 13.O7d; Janu- ary, 13.12d; March, 1S.1sd; May, 13.19d; July, 13.13d; October, 1267d.
The Birmingham age-herald., 1924-11-29
MARKET FLASHES

WASHINGTON, Nov. 2s.-World pc troleum production passed the billion barrel mark for the first time last year, it was shown today in government fig ures and productin in the United States attained a new record. The total world output reached 1,01s,900,0o0 barrels of 42 gallons each, according to statistics complied by the geological survey. The United States produced 732,407,0O0 bar rels which was 71.s per cent of the total world output. Mexico, second largest uroducer, had an output of 149,5S5,000 barrels\ or 14.7 per cent of the world kotaL
The Birmingham age-herald., 1924-11-29
COTTON SEED OIL

NEW YORK, Nov. 2s.-Cotton seed oil was fairly active and higher today on buying by commission houses and local bulls, inspired by firmness in lard and corn. Shorts covered freely on the advance. Closing bids were 10 to IS points net higher. Sales 30,0o0 barrels. summer yellow spot, $11; December Prime crude, $9 sales and bid; prime closed $1O.96; January, $10.Ss; March. $1O.9S; May, $11.20, all bid.
The Birmingham age-herald., 1924-11-29
POTATO MARKET

CHICAGO, Nov. 2s.-Potatoes early morning trading slow, market dull; re- ceipts, 11s cars; total United States ship ments Wednesday, TAI; Thursday, 134; fair to ordinary quality; few early sales Minnesota sacked round whites mostly around soc; poor, FOG; bulk asking soc; Wisconsin sacked round whites, 75@S0c; few higher; Idaho sacked russets, few few $20O@210; few higher.
The Birmingham age-herald., 1924-11-29
DUN'S REVIEW

NEW YORK, Nov. 2s.-Dun's tomor- row will say:
 Next to the last month of the year Is closing with definite improvement in business, and with favorable prospects. There is more confidence now and more disposition to increase commitments, with larger buying both to fill immedi- ate needs and to make provision for fu- ture requirements. The change for the better, alike in sentiment and in actual transactions, is evident in all sections of the country, reports gener- ally indicating distinct gain in activ- ity, and those from the west reflecting the special stimulus of the higher prices for agricultural staples. Except in few instances, there has been no rapid expansion of operations; but the cur rent movement is the more wholesome on this account, and the sound basic conditions are regarded as foreshadow- ing a continuance of the commercial re- covery along conservative lines." Weekly bank clearings, $6,946, ,626, ,OOO. HESTEHSS WEEkfN cnTF0n
The Birmingham age-herald., 1924-11-29

S NEW YORK Nov. 2s.-Foreign ex- Schanges firm. Quotations in cents: IGreat Britain demand, $4.63h; cables. I$4.631s; 60-day bills on banks. $4.60la;
 France demand. 5SSlA; cables, 5.39; ..Italy, 4341a and 4.35; Belgium, 4.s91s fand 49O; Germany, 23.s1; Holland, 40.33; Norway, 14.S11a; Sweden, 26.91; Den
 mark, 17.56; Switzerland, 1881; Spain, 137ni Greece, 1.77i5; Poland. 19A;
 Gszechoslovakia, 3.0Oh; Jugoslavia.
 1.45h; Austria, .0014b; Rumania, .51A {;
 Argentina, 3s.O6: Brazil. 11.5O; Tokyo,
 3s%; Montreal, 100.
The Birmingham age-herald., 1924-11-29
WOOL REVIEW

BOSTON. Nov. 2s.-The Commercial Bulletin tomorrow will say:
 "The demand for wool has persisted steadily with a tendency for prices to rise and 8 net advance all around of about a cent a pound in the grease re- ported and occasionally somewhat more. Contracting in the west continues mod erately with prices fully firm every where.
 "The foreign markets continue to strengthen with competition keen. Lon don has fully maintained it's initial rise of par to 5 per cent on Merinos and. Capes; 10 per cent on fine cross breds; 15 on medium and about 20 per cent on low cross breds; slipes being up 5 to 10 per cent and clothing wools fully firm, compared with the previous sales closing. The foreign primary mar kets are very strong, especially Aus tralia.
 "The manufacturing situation is not greatly changed but the manufacturers evidently expect good business for some time, Judging from their purchases.
 "Mohair Is very firm on limited sup plies and moderate inquiry"
The Birmingham age-herald., 1924-11-29
RICE MARKET

NEW ORLEANS, Nov. 2s.-Rough rice strong; sales none; receipts, B., 773 sacks; millers receipts, 5,506; clean ice strong; ssies, 246; Japan, 1-16c; POP second heads, 41Ac; 250 screenings, Shc; receipts, 1s,992 pockets; bran and polish unchanged. f
The Birmingham age-herald., 1924-11-29
REICHSRANK

BERLIN, Nov. 28.-The Reichsbank report, as of November g, shows the following changes:
 Gold and bullion increased 208,000; re- serve in foreign currencies increased 10000; bills of exchange and cheques in creased 16,351 900; silver and other coins decreased 423000; notes on other banks increased 5,574,00 advances increased 1,399, ,000; investments increased 169,000; other assets increased 33.321 ,000; notes in circulation decreased S3049, 900; other maturing obligations increased 154, ,S39,- 12,208, 900; other liabilities decreased g. 91s,OO0; total gold holdings 694,SS4,0O0.
The Birmingham age-herald., 1924-11-29
METAL MARKET

NEW YORK, Nov. 2S.-Copper firm; electrolytic, spot and nearby 14c fu- lures, 14d14%c; tin firm; spot and fu- lures, $5.45: iron steady; prices un- changed lead steady; spot $S65@9.0O '; zinc firm; east St. Louis spot STOOD 7.O5; futures, $7.0597.10; antimony spot, $14.37.
The Birmingham age-herald., 1924-11-29
GRAIN AND PROVISIONS
CASH GRAIN

ST. LOUIS, Nov. 2s.-Cash wheat: No. 2 red, $1.6s@171; No. 3, $1.66@1.6s.
 Corn: No. 2 white, new seed, $1.15; No. 2 yellow, $1.15; old, $1.16. Oats: No. 3 white, 52k @53c; No. 4 51h%51%c,
 Futures, wheat: December, s1.55% i; May, $1.62h.
 Corn: December, $1.11%; May, $1.2o.
 Oats: December, 521Ac; May, 5sc.
 CHICAGO, Nov. 2s.-wheat: No. 1 hard, $156A @1.57; No. hard, $1.55@ 1.551a.
 Corn: No. 2 mixed, s1.1s&; No. yell low. $1.15h@1.17.
 Oats: No. white. 54@55%c; No. 3 white, 5oh@52Ac. Rye, No. ?, $1.S4h O 1.34z.
 Barley, 79@96c. Timothy seed, $5.509 6.75; clover seed, $24.0O@31.25; lard, $14.55; ribs, SIS; bellies $15.
 KANSAS CITY. Mo-, Nov. 2s.-wheat: : No. hard. $1.4sh Q1.57; No. 2 red. $1.6o @1.64.
 Corn: No. 2 yellow, s1.osA; No. 2 mixed, $1.06h @1.07.
 Oats: No. white, 53c.
 TOLEDO, Nov. 2s.-Clover seed, old, $19 asked; new, $192O asked; November $19.20 asked; December, $19.20 asked alsike, old, $12.65; new, $12.70; timothy seed, $3.10; November, $3.10; December $3.1O.
 NEW YORK, Nov. 2S.-Flour steadier; spring patents, $7.90@S.25; hard winter straights, $7.65@s.0O.
 Rye steady; No. 2 western, $1.451a f. O. b. New York and $1.43% c. 1. f. ex- port. 1'
 Barley easy; mating, $1.o4@1.o7. l a1E = 15.15.
 Tallow firmer; special loose, 10910hc; extra, 1O@1oAc; other articles were un- changed. POULTRY AND PRODUCE
 ST. LOUIS, Nov. 2s.-Turkeys, 25c; springs, 22hc; ducks, 16c; geese, 14c; others unchanged; eggs, soc; butter un- | changed.
 CHICAGO, Nov. 2s.-Butter un- changed; creamery extras, 50c; stand ards, 46c; extra firsts, 45Q4sc; firsts, 3s @42c; seconds, 33@36c.
 Eggs higher; receipts, 1880 cases; firsts, 48Q55c; ordinary firsts, 42045c; refrigerator extras, S6h QS7c; firsts, 35 @35hc.
 Poultry alive higher; fowls, 14K K@2Oc; springs, 21c; roosters, 14hc; turkeys | SoSp 6OSoCO AVSS OoSASB AVSs
 NEW YORK, Nov. 2s.-Live poultry irregular; chickens, by freight, 19021ci by express, 2S@27c; broilers, by freight ZIG; by express, 30Q35c; fowls, by freight, 17Q23c; by express, 17Q2Sc; tur. keys, by freight, 25Q2sc; by express 30@35c.
 Dressed poultry dull; turkeys, western 30@40c; southwestern, 3o@3sc; nearby 35@48c.
 Butter easy; receipts, 6,s49 pounds creamery extras (92 score), 47047hc.
 Eggs irregular; receipts, 9990 cases nearby hennery whites, closely selected extras, 7S@74c; nearby and nearby west ern hennery whites, firsts to average ex tras, 60@72c; Pacific coast whites, ex tras, 69@72c; do, firsts to extra firsts 60@6Sc; refrigerator firsts, 38h 039c.
 KANSAS CITY, Nov. 2s.-Produce un changed.
The Birmingham age-herald., 1924-11-29
HUBBARD BROS. & co.

Members New York Cotton Exchange, New Orleans Cotton Exchange. Now sale of Cotton and Cotton Seed Oil for future delivery. Special consignmene of spot cotton for delivarv.
The Birmingham age-herald., 1924-11-29
WEEKLY LIYERPOOL

LIVERPOOL, Nov. 2S.-Weekly cot ton statistics: Total forwarded to mills 79,O0O, American, 53,00O bales. Stock 452,OOO, American, 321,0OO. Imports, 106,- 300, American, 94,oO0. Exports, 2,O0O, nc American.
The Birmingham age-herald., 1924-11-29
COFFEE FuTURES

NEW YORK, Nov. 2s.-Reiterated re- ports from Brazil that the growing coffee crop was disappointing because of drouth and insect damage combined with higher Brazilian markets led to covering and some trade buying in cof- fee futures today. The opening was 20 to 55 points higher and active months sold 65 to s5 points net higher. March touching 1S.99c and closing at 13.95c. The general market closed 65 to 70 points net higher. Sales were esti- mated at 85,000; closing quotations: De- cember, 19.95c; January, 19.soc; March, 1s.95c; May, 1S.24c; July, 17.75c; Sep tember, 17.05c.
 Spot coffee, firm; Rio Is, 21%c; :lan- tos As, 25A @261ac. Cost and fire lght offers included part bourbons 3s and 5s at 26c. The futures market ell ised at 1 o'clock today to permit broker.t to attend the funeral of Schaefer, Tor mer president of the exchange.
 Rio exchange on London, 1-16 pence higher; dollar buying rate, 100 reis low CT; Rio market, 1,775 reis higher; San tos, 1925 to 1,475 reis higher. Brazilian port receipts, 45,0O0; Jundiahy, 22,OOO.
The Birmingham age-herald., 1924-11-29
MONEY MARKET

NEW YORK, Nov. 2S.-Call money strong; high, 4; low, 21a; ruling rate 2lh; closing bid, 4; offered at Az; last loan, 4; call loans against acceptances 2L. Time loans steady; mixed collat- eraI, 60-90 days. 3@3h; 4-6 months, 3k q3Z; prime commercial paper, 3A Q3h
The Birmingham age-herald., 1924-11-29
MARKETS AT A GLANCE

NEW YORK.-Stocks buoyant, rep resentative industrials lead brisk ad- vance. Bonds irregular; rail issues yield to profit taking. Foreign exchanges steady; Dutch guilders highest in fiyo years. Cotton lower; larger crop esti- mates. Sugar higher; firm spot mar kets. Coffee firm; European buying.
 CHICAGO.-Wheat steady; bullish Ar genuine news. Corn firm; reports of poor quality. Cattle, dull. Hogs firm.
The Birmingham age-herald., 1924-11-29
FLOUR MARKET

MINNEAPOLIS, Minn.. Nov. 2s.- Flour unchanged; shipments, 46,62s bar rels. Bran, $27.
The Birmingham age-herald., 1924-11-29
SPOT COTTON

NEW ORLEANS, Nov. 2S.-Spot cot ton steady, 40 points down. Sales on the spot, 614; to arrive, 100. Low mid ding, 22,2Oc; middling, 237Oc; good mid ding, 2420c; receipts, 1,279; stock, 361,- 124.
 NEW YORK, Nov. 2S.-Cotton: Spot, quiet; middling, 23.S5c.
The Birmingham age-herald., 1924-11-29
BONDS DECLINE ' UNDER REALIZING
Trading Throughout Ses- sion Is Marked By
 \ regularity

NEW YOF f,A Nov. 2S.-Bond prices sagged todayB under a heavy load of realizing salesN which brought pressure to bear againsSt virtually all classes of obligations. Irading throughout the day was markedG by considerable irregu-. larity with indfVvidual foreign, railroad and industrial Mems continuing to ad- vance, while pro1it taking caused sharp recessions in somac of the speculative rail issues. N
 Trading in the new French and Ger man bonds was Stimulated by recent favorable deveIopA nents. The French IS sold at their hia shest level following announcement thatI preliminary discus sions regarding thHe funding of the French debt to thet United States had been held while the Nnew German bonds responded fayorably Ito tho extension of a $15,00U,C00 credit tok the German rail- ways, putting the -ra4 Frovisions of the Dawes plan into sffeYfE
 St. Paul railway islsues yielded read fly to profit taking \ and New Haven bonds failed to mair&tain the strength which trey developed or, the basis of the roads refunding\ program. Reac- tionary tendencies a4so governed the price movements, of llVnois Central 5hs, Baltimore and Ohio As, Atlantic Coast Line, Chesapeake andt Ohio and South ern Railway liens.
 Wall street heard Reports that the next foreign financing would involve a S15O0O, ,OOO loan to Holland and per- haps $50,000,000 for tAe state owned railroads of Alsace- -Lorreine. The Nor folk and Western railr1 ad has sold a S6,OO0,O 900 issue of perl cent bonds to local bankers, who probably will make a public offering next week.