The Washington times., 1925-02-26
BANKERS OFFER
j. s. RUBBER
NOTES
Proceeds Of sac. ooo. 900 to
Be Used to Refund
Bank Loans

NEW YORK. Feb. 26.-Kuhn
Loeb & Co. have purchased and
are offering $SD,OoO,00O United
States Rubber 615 per cent serial
gold notes. maturing in fifteen
annual instruments of $4,000, 900
each from March /, 1926 to March
/, 1910, both inclusive. These notes
are being offered for subscription
in equal amounts of all the ma
turtles at an average price OF
99k per cent and accrued interest.
The prices at which the various
maturities are being offered show
a yield to maturity. running from
about $40 per cent for the one
year notes to over $50 per cent
for the fifteen year notes.
These serial notes are to be Is
sued for the sole purpose of re-
placing bank loans. and the amount
to be provided by this note issue.
together with other available
take up all banks loans presently
outstanding, thus providing In 3
more permanent form for carrying
a part Of the company's inventories
and other current assets. This
issue should place the company In
such position that it viii be nm.
necessary to borrow from the
banks, except for part of each
year when the company will need
additional funds for its seasonal
requirements. On December 81,
1924, the bank loans Of the com
pany amounted to $31 400 600, hasv-
ing been reduced from SCI .205, 900,
the high point on November 20,
1920, entirely in the regular course
of business, there having been no
special financing for this purpose
during the period.
The 61z per cent serial gold
notes will be the direct obligation
of the United States Rubber Com
pany, and in the indenture under
which they are to be issued the
company will covenant that no
mortgage other than the first and
refunding mortgage, dated Febru.
airy Is. 1917. will be placed upon
any Of its properties or assets, or
it's subsidiary companies proper
ties or assets, unless the notes OF
be secured equally and ratably
with any other obligations secured
under such new mortgage.
Bonbright & Co. are offering D
new issue of 5000. 900 for the
United Light & Power Company
So per cent gold notes, dated
March /, 1925, and due September
1, 1928, at 80 to yield about $50
per cent. The United Light &
Power Company or its predecessor
has furnished a diversified public
utility service in az prosperous
and growing communities in the
Middle West, chiefly in Iowa and
Illinois.
The proceeds OF this issue will
be used to pay Indebtedness in
CURED in the purchase of the
interest in American Light &
Truction Company common stock.
Blair and Company, Inc, and
Hamhleton q Co., are offering
today a new issue of 175,000 shares
of the Gould Coupler Company
participating Class A shares Of no
par value at SIS share, each
share carrying in addition one
quarter share OF common stock
This stock is entitled to preferen-
tial cumulative dividends at the
rate of SO per share, per ant1um,
and also to additional dividends
equivalent to 25 per cent per share
of Glass A of any dividends paid
on common. The Gould Coupler
Company has acquired the plants,
equipment, patents, trade names,
ETC., of Gould Coupler Company.
a New York corporation, a. q
going concern. Upon completion or
nresent financing outstanding
Capitalization of the new company
will consist of $4,000. 900 first lien
6 per cent fifteen-year sinking
fund gold bonds, $4,000 shares
class A shares and 100000 shares
no par value common shares.