The Washington times., 1924-08-19
ONTARIO PLANS
TO SELL
BONDS
Receives Bids for 10000.
600 4Za Per Cent
Issue

NEW YORK; Aug. 1S.-Ine EroVS
ince Of Ontario will receive bids up
to noon Friday for $20,000,000 Az
per cent 20-year bonds, payable in
Canada, New York and London for
refunding purposes. A similar Of.
fering was made last fall calling
for alternative bids. The issue, to-
falling $4O,000,000, went to a Can.
adam syndicate.
Because Of the parity Of exchange,
no alternative bids were asked. 1t
is generally expected that the offer
ing would go to New York, but
there is a feeling that perhaps the
Canadian market stands a fair
chance of getting it. 1t is also felt
that London will be a participant
because of the comparative strength
of the pound.
This is the first time in two years
that Ontario has sought a long.
term loan in this market. Further
more, it is believed that additional
financing will be done by some OF
the other provinces in the next few
months.
Bankers are looking forward to
an active week in offerings, ana
are preparing to place on sale a
III AlO0CA GIO S4HOA 1890
issues recently UNDERWATER. Ale
though there are several fairly
large pieces of new financing pend"
ing, 1t is understood that the most
important will not total more than
$40 900 900, Bankers are inclined
to await the end Of the vacation
period before offering large sizeo
issues of new bonds.
The largest offering today is the
SO 900 900 Sun Oil Company fifteen
year 5h per cent sinking FUND
gold debentures, due September.
/. 1899, being offered by Lee, Hig"
ginson & Company, Harris, Forbes
& Co, and Brown Brothers & Co.,
at 99A and accrued interest, to
Weld over $50 per cent. The Sun
Oil Company is one of the principal
PRODUCERS and distributors OF
netroleum products in the United
States and one of the largest ex'
porters Of lubricating oils to
Europe. A sinking fund, payable
semi-annually, will be sufficient to
retire 40 per cent Of this issue Oy
or before maturity.
The Great Northern Railway
Company, has received permission
from the Interstate commerce
Commission to issue $4,5OO,00O or
eouipnent trust certificates. The
Certificates will be sold to bankers
at 96, Proceeds of the loan WIN
be used to purchase new equip
ment. -.
nlaced privately an isue Of $4,000 900
Az per cent consolidated mortgage
]. S. Rippel & Co. are offering an
issue of 100000 State OF New
Jersey Az per cent coupon or reg
istered bonds, due bridge issue July
/, 1889; road issue July 1, 1889, and
highway issue July l, 1889 to 1904,
at 1925 and interest, to yield ABOUT
A. H. Lamport & Co. are offering
$500 900 Essex county, N. j.. An
per cent bonds, due May 1 and
July /, 1902, at a price to yield
4.O5 to 40 per cent; 100000
Charleston county, S. c.. ~ per
cent bonds, due July /, 1926-44, to
Weld 4 to 4.6O per cent; $4,000
North Bergen, N. j., 5A per cent
bonds, due August /, 1929, to
yield 400 to 4.60 per cent; 100000
City Of Greenville, s. c., per
cent bonds, due January 1, 1868,
optional 1913, to yield 450 per cent:
S15O, 900 State of South Dakota 6
per cent bonds. due September l,
1941, to yield 40 per cent.
C. w. McNear & Co. are offering
$3.50 900 City of Houston, Tex, 5
per cent bonds, due February l,
1941 to 1949, inclusive, at prices
to yield 4.45 per cent.