The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1925-01-23
COSDEN BONDS
BOUGHT BY
BANKERS
Mid-Continent Petroleum Cor
poration to Take Over
cosden Companies

NEW YORK, Jan. 23.-Kuhn
| Loeb Co., with whom are asso
ciated Hallgarten & Co., and Cas-
| satt & Co., have purchased $l2,50O,
900 Mid-Continent Petroleum Cor
poration first mortgage 6h per
cent fffteen-year sinking fund gold
bonds.
The Mid-Continent Petroleum Cor.
poration is the name by which it is
proposed that the present oorpor.
alton Of Cosden & Co, of Delaware,
shall hereafter be known, and in
which 1t is proposed to vest the
title of the properties oc Cosden &
title of the properties Of Cosden &
Gas Company with certain excep-
tions), and the Atlantic Petroleum
corporation, which it now controls
through stock ownership. A meet.
ing OF the stockholders for the
purpose or erecting the change in
the name OF the corporation has
been called for February FL, 1925.
that it was deemed advisable tn
consolidate the properties of the
company into the Delaware corpor.
alton, and at the same time to
select a name more descriptive Of
the place OF operations of the com.
pany and OF the nature of its
business.
The new issue of bonds will be
offered for the subscription AT 97M
per cent and accrued interest, at
which price they yield over 6A
per cent to maturity.
>. w. StrauS & Co, announced
that the permanent first mortga 90
serial coupon gold bonds of the
$5,OOO,OOO Murray Hill building are
now ready for exchange for interim
certificates.
The firm also announced an offer.
ing Of $4,000 first mortgage. s
per cent, two to twelve-year. serial
coupon bonds, secured by the land
and new Textile building in San
Francisco, Calf.
Consolidated Gas financing j. i
reported, will consist OF issue OF
$5O, 100000 twenty rear 5h Der cent
debentures, FOR which authority has
been applied for. Official announce.
ment is waiting on approval of the
pubic service commissions.
Bankers are understood to have
already received advance subscrip.
tons for the offering in sufficient
amount to warrant the belief that
the issue will be several times over
subscribed.
Interest of the investment world
In the petroleum securities was
heightened by announcement THAI
Marland had completed arrange
ments for retirement of 1900. 900
outstanding 8 per cent bonds. The
bonds have been quietly accumu-
lated by insiders" for some time SO
that only one small lot made it's
appearance on the report.
The bonds will be retired at los
and interest with funds provided
by the sale Of $1,000 900 two-year
per cent notes last October. The
retirement will leave the two-year
notes az the sole funded obligation
Of Marland Oil.
Dillon, Read and Company. and
associated bankers sold $4,000 600
A. M. Byers Company first mortgage
8 per cent bonds at SO. The bonds
run for twenty years and a sinking
fund is provided for to retire 1880.
900 Of the issue prior to maturity.
Glidden Company stockholders
to issue 100000 first mortgage s
per cent serial bonds in order to pro-
vide funds for retirement of $2,867,-
500 per cent bonds now outstand-
ing. The outstanding So do not ma
ture until September l, 1896, but are
redeemAble on any interest date at
1919 and interest.
Brokers sold $3,500,000 Morrison
Hotel, Chicago. first mortgage 61a
per cent gold bonds at 100 as we'll
as a new issue of $1,400,000 6hs of
the 100 West Fifty-Fifth Street Cor.
poration.
Eldridge & Co. are offering new
issues amounting to $4,000 OF
Minneapolis, Mimi, per cent, "A
per cent, 4 per cent, Az per cent and
per cent bonds. The bonds are
legal investment for savings banks
and trust funds in New York, Mas
sachusetts and Connecticut.
Conversion privileges of the Mara
caibo Oil Corporations 8 per cent
gold debentures expire at the close
Of business next Monday. Deben
lures not designated for conversion
| into stock on that day will be re
deemed at par on February l at the
New York Trust Company.
Short Term Securities
FURNISHED by w. .. Hibbs & CO..
A.