The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1925-01-08
BANKERS OFFER
MUNICH Al
BONDS
New Issues Include $780,
600 Rochester and So, ooo,-
900 Porto Rico Bonds

NEW YORK. Jan. S.-An issue OF
Z, SOC, 900 City Of Rochester, N. z,
Az per cent gold bonds, due 1865,
vas awarded yesterday to syndi.
cate headed by the Guaranty Com.
pany of New York on q bid OF
$101.6445. The bonds are being Of
fered today at prices to yield from
$50 to per cent, according to ma
turity. Associated with the Guar
anty Company are Remick, Hodges
q Co., Eldredge & Co., Roosevelt &
Son, Kean, Taylor & Co., and Ames,
Emerich & Co.
The bonds mature serially each
February 1, 1926-1955, and are legal
investment for trust funds and
savings banks in New York and
eligible as security for postal saw
ings deposits.
These bonds, issued for various
public purposes, such as water
works, hospital, schools, subway
and local municipal improvements,
constitute direct obligations. of the
city. Both interest and principal
are payable from direct taxes levi
Cd against all the taxable property
within the city.
RUIEudSG OI poStOVsVVU C40AP,
ment trust certificates, issued un
der the Philadelphia plan. from
the Brooklyn City Railroad Com
pany. New york. was announced
today by Halsey, Stuart & Co., Inc.
who will offer the certificates in
denominations of 81 900 bearing in
terest at per cent, at an early
date. Funds derived from, the
transaction will be used to pay in
mart for 335 new cars recently con.
kracted for at q cost in excess OF
SIS, 900 900.
81. Hobert Porter, president Of
the Brooklyn City Railroad Com
pany, says: "Since 1913, including
the equipment to be acquired under
this car trust, we have expended
or arranged to expend over $4,000
600 for new rolling stock. The
Brooklyn City Railroad Company
owns and operates q total trackage
Of 30 miles, covering more than 40
per cent of the surface mileage in
York city, and Including a great
many Of the principal car lines of
the borough operating In the i'm.
portant downtown districts. The.
company has outstanding in the
hands OF the public, bonds OF the
face value Of s4,S9s, 900. whereas
the real estate alone is assessed Tor
purposes Of taxation by the city OF
New York at more than 1900, 900"
A. syndicate consisting OF Hall
garten & Co., Blair & Co., Inc,
and Hornblower & Weeks is offer
ing today a new issue Of 5000, 900
People of Porto Rico per cent i'm
provement gold bonds, dated July
\, 1923, optional July 1, 1913. ma
turing 100000 annually each July
1, 1850, to July 1, 1866. inclusive.
The issue is offered to yield 40
Der cent to optional date and per
cent thereafter.
Halsey, Stuart & Co., Inc, and
Harris, Forbes q Co. are offering
an issue Of $1,000, 900 Atlantic
Joint Stock Land Bank 8 per cent
bonds, dated February 1, 1925, and
due February I, 1855, optional 1895,
at 1921 and accrued interest to
yield approximately 4.67 per cent
TO optional date and per cent
thereafter. This bank is located in
Raleigh, N. c., and operates in
North Carolina and South Carolina
under Federal charter and Govern
ment supervision.
Its loans are made only in select
cd agricultural sections of these
States. The average amount loan
ed per acre to date is $22, which is
only 30 per cent Of the appraised
valuation.
Renick, Hodges & Co. are offering
a new issue OF 1926, 900 City Of
Bridgeport. Conn. AZ per cent gold
bonds. dated January 2, 1925, and
due .$3I 900 annually 1928 to 1927.
at prices to yield from 4.05 per
cent to 40 per cent. The bonds
are a direct obligation Of the city,
are payable from unlimited taxes
upon all taxable property therein
and are issued for school purposes
An issue of s750,000 two-year 6h
per cent secured notes, dated De
cember I. 1924, Of the Chicago Au-
rora & Elgin Railroad Company is
offered today by Halsey, Stuart &
Co. at par, to yield Ga per cent.
The Chicago, Aurora 6 Elgin Rail-
road Company owns and operates
the third rail electric railroad prop
critics extending from Chicago to
terminals at Aurora, Elgin. Geneva
and Batavia. Ill, rendering pas
over 1872 miles Of line measured
as single track.
KisseI, Kinnicutt & Co. and Sala-
mon Bros. e. Hutzler are offering
q new issue of $750,000 City OF
Memphis, Tenn, Az per cent eight
month revenue notes, dated Jan
uary 1, 1925, and due September 1,
1925. The notes are free from all
Federal income taxes, and are is.
sued in anticipation of taxes. They
also constitute direct and general
Z obligations of the City Of Memphis.