The Washington times., 1925-02-24
BONDS
PLACED ON
SALE
Bankers Offer So, ,ooo, 900
Pennsylvania Power and
Light Bonds at o5h


NEW YORK, Feb. ga syndi-
cate headed by the Guaranty Com
pany OF New York and including
Harris, Forbes & CO.. ffalsey, Stuart
q Co, Inc, and Brown Bros. 4 Co.
is Offering today $4,000, 900 Pennsyl.
vania Power and Light Company
first and refunding mortgage bonds
series ID, per cent, due SeptemlT
ber /, 1863. The bonds are offered
at 951k and interest, to- yield over
The PennsyIvania Power and
Light Company operates II ana
around Allentown, Bethlenems
Wilkes-Barre, HazIeIon and VIII
Iiamsport, Pa. OF the company'g
gross earnings, more than 80 per
cent IN derived from electric power
and tight and about 10 per cent
from manufactured gas and other
Net earnings for 1924, before re-
newaas and requirements, exceeded
two and quarter times the an.
nuai interest requirements on al
mortgage bonds outstanding In Ine
hands of the public, including TINS
issuA
nnny. Hayden, Stone q Co. and A.
q. Becker & Co. are offering = new
issue OF $4,000 900 City Of Jersey
city. n. j., 81 per cent and Per
cent tax revenue bonds. The bonds
are priced at 99.35 and interest Tor
the az per cent bonds, yielding
over $40 per cent, and at 1sO.S0 !,
and interest for the 4 per cent
bonds. yielding over 3.76 per cent.
The bonds are the direct obligation
OF Jersey City and are payable
principal and interest from an nll-
limited ad valorem tax.
The Equitable Trust Company OF
New York and Edward LOWbeE
Stokes & Co., of Philadelphia. are
offering $4,000, 900 in trustee par
ticipation certificates OF q s aper
cent secured gold note, due March
IL. 1880, OF Missouri Pacific Rail.
read Company. They are secured
by deposit with the Chatham q
Phef1ix National Bank, trustee O3
81. .OOO. 900 Missouri Pacific Railroad
Company first and refunding 6 per
cent gold bonds. Series d, due Feb
ruary /, 1949. The note, represents
| INDEBTEDNESS of that road purchased
| frcm the United States Railroad
Administrations. The certificates ars
priced to yield AZ per cent to Sep
tember /, 1925. and s Per cent
ltkereafteE The bankers report that
the issue has all been sold.
The Southwestern Light and Power
Company has sold an issue OF
| 50, ,1OO. 900 first mortgage and col.
lateral lien 6 per cent bonds TO
| banking syndicate. 1t is expected
that the offering will be made
| shortly.
new issue of $7O0, 600 City of Grand
Rapids, Mich, AZ Y per cent bonds,
maturing $25, 900 annually August
1885 to 1853. The 1895 ma:
turity is offered to yield $50 per
cent. 1927 maturity 3.75 per cent
1928 maturity $50 per cent. 1923
1880 rnaturities per cent and 1881
1858 maturities 4.05 per cent.
West 6 Co. are offering nav
issue of $500, 900 Pitney-Bpwes Post
age Meter Company per cent
serial gold notes. The notes are
to be dated February /, 1925, and
are due serialIy February l. 1885,
1890, at prices to yield $50 per
cent to 6.25 per cent. The Pitney1
Bowes Postage Meter Company 10
a combination of the Universal
stamping MacHln0 SOHuPdhJ duo
the American Postage Meter Com
pany.
The company manufactures the
only postage meter machine, at this
time being manufactured and dis
tributed under license of the United
States Government for the hand
ling of "metered permit mail" In
connection with this machine, which
is sold outright, there is a postage
meter necessary to the operation Of
the machine.
M. NJ. Freeman & Co.. of Phila-
delphia. are offering through their
New York correspondents, Ludwig
& Bauchle, $50O,000 Borough Of
Audubon, N. J., AZ per cent school
bonds, maturing March 1, 1925 to
1865, at prices to yield from 4 to
4.40 per cent.