The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-12-18
BELGIUM BONDS
PLACED ON
SALE
Bankers Syndicate, Headed
BY ], 2. Morgan & Co,
Offer $50. 900, 900

k#S sfssssD.. y Il
NEW YORK. Dec. 1S.--J. p. Nor
Ean & Co., and the Guaranty Com
pany win offer, $50, 100000 Belgian
government thirty-year 8 per cent
bonds at 9TH and interest to yield
about per cent. The bonds will
carry 8 sinking fund clause which
provides that sinking fund pay
ments are to be made at the rate
Of lao OF the amount each year
SO that at the end Of the thirty
years of the life of the bonds, the
issue win be paid up. This sinking
fund will operate TO purchase bonds
In the market at par up to the
amount Of the fund paid in. In the
event Of credit balance, bonds will
20 selected by call for redemption
at par.
Subscriptions ON this Offering. win
pc opened at the offices of ]. p.
Morgan & Co. and the Guaranty
Company at, 10 o'clock this morning,
and Will be closed at their discre.
ton. Associated with Morgan & Co.
and the Guaranty Company will be
the First National Bank. Bankers
Trust Company, Mechanics and
Metals National Bank, the National
City Company, National Bank of
Commerce. Equitable Trust Com.
pany, New York Trust Company,
Harris, Forbes & Co., Dillon, Read
4 Co., Brown Brothers & Co., e. H.
Rollins & Co., Kidder, Peabody s.
Co, Halsey Stuart q Co., Spencer,
Trask 4 Co. and the First Trust
and Savings Bank, Illinois Mer.
chants Trust Company, Continental
ana Commercial Trust and Savings
sank Central Trust Company Of
Illinois, Of Chicago and The Union
Trust Company of Pittsburgh.
international Match Corporation
has called for redemption on Janu.
airy -, 1925. all OF its SIC, 900 900
- Per cent sinking fund gold deb.
entures at los per cent OF the face
value Of the notes, and accrued in.
terest Payment will be made at
the offices aof Lee, Higginson &
Co., New York, Boston and Chicago.
a banking syndicate composed of
Lee. Higginson & Co., Guaranty Co.
q New York, The National City
Co, Brown Brothers & Co, Dillon,
Read 4 CO., and Clark, Dodge q Co.
mas underwritten 100000 shares OF
the participating preference stock
oL TINS company, which issue will
proVlde funds for tie redemption Of
the debentures. The stock has a
par value of $35. per share. II
carries cumulative dividends at the
rate Of 1880 per share per annum
ana participates at least equally
with the common stock of the cor.
poration IN any dividends after the
common has received $2.66 per share
in any year.
Holders OF debentures are offered
the option Of exchanging same for
participating preference stock at
the rate Of thirty shares Of stock
Tor each $1,000 Of debentures Inter
est and dividend to be adjusted)
Ihe, exchange offer expires Jan.
uary "A. 1925. Holders of dc.
bentures also have the alternative
right to cover their debentures into
common stock at the rate OF thirty
shares for each $1,000 of deben.
lures. On4 the basis Of the prefer
ence STOCK exchange, debenture
holders will receive securities Weld
ing q cumulative preferred dividend
rate ever TAO per cent.
4 -sf
G. w. McNear & Co. ana .stifel.
Nicolaas 4 Go. are offering a. new
issue Of $500. O0V Elizabeth City.
North Carolina, per cent bonds,
dated January 4. 1875, at prices
to yield $50 per cent.
First National Bank. New York.
Eldridge y Co, Kean, Taylor e. Co,
and the Detroit Co., Inc. are Offer
ing q new issue Of $2,i40, 900 CITY
Of Buffalo. N. Y, Az per cent
bonds due :$107 900 annually Jan.
uary 2, 1925 to 1916 inclusive. at
prices to. Yield from S.25 per cent
to $50 per cent. The bonds are
legal Investment for savings banks
and trust funds in New York.
Massachusetts and Connecticut and
are issued Tor school. hospital, park
and Improvement purposes.