The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1925-01-06
+ Hin
BONDS on
Sale
National City Company Heads
Group Selling 12 z, ooo,-
600 Issue

NEW YORK, Jan. 0.The Ma
itional City Company. Harris. Forbes
u Co, Bankers Trust Company,
Graham, Parsons 8 Co. Janney &
Co. West "a Co. and the Bank of
North America Trust Company are
offering 81 900, 900 City OF Phiiadei-
pEia, Pa, 4 per cent bonds at 10fA
and interest yielding about $50 per
cent. The syndieafe was awarded
the bonds yesterday on q bid Of
tNO. 3047. Drexel Co.. Brown I
Bros. q Co, Guaranty Company
and Union Trust Company OF Pitts.
'burgh bid 100 and accrued irteres
There are two issues, one Of $1is-
600, 600, dated January 1, 1925, due
january 4, 1875, and are redeem
able on and after January i, 1915.
The remaining 81 ,0O0, 900 are dated
January II !. 1925, and are due Jan
rafy 1, 1870. The bonds are exempt
from all Federal income taxes d
are tax free tn Pennsylvania Thee
are legal investment for saving
banks and trust funds In Penuss
vania, New York, Connecticut, MAJ
sachusetts and elsewhere.
An offering Of 81 $4,000 frs
mortgage convertible 15-year 6is
per cent sinking fund gold bonds 4
series A, due December ], 1889. o.
the CeIotex Company Is being rinatlt
today by Donoghue. Kruinsick a
Co, Inc, and the Michigan Guaisfs
anty Corporation OF Grand Rapids.
at a price OF 500 and accrued
interest TO yield 6h per cent
The bonds constitute the cofnpany,s
sole funded debt. Ce.Otex is la
made by converting the tough
spirley fibers OF bagasse sugar cane
fibre into a firmly felted board
and as an insulator against heat
and cold Is the approximate equal
Of cork s
Remick, Hodges & Co. and ]. 81
RippeI & CO. are offering new
issue of $500, 900 New York & New
Jersey Joint Stock Land Bank t0t
Newark. N. j y, 5 per cent bonds,
due November L, 1854 optional
November 1884, at price OF lD2f
and interest. yielding about 4. 20
per cent to the optional date and
5 per cent thereafter TO redenlpti0n
or maturity The bonds are lssusu
under the Federal Farm Loan Act
And are an obligation Of the New
York q New Jersey Joint STOCK
Land Bank, a privately owned ana
managed corporation which Opers
afas in the States of New York
and New Jersey under Federal
charter and close governmental
~ kua tin Grant & Co, inc. are
offering a new issue Of xl15sVoV
city Of Portsmouth, Va, IL per.
cent school gold bonds, due Jan
sIarv I 1880 10 1884, 1885 to 1868.
al prices to Yield 4.6O per cent
Prudden & Co. are offering q neg
issue of SITS, 900 Wharton COUNTY.
Tex, EOnserva Ion District 10.
Der cent bonds; due aElnnallg, at
to 1916, at prices to yield 9 % 5.IV
per cent.
II 4 understood that the shipment
of gold by the Farmers Loan
Trust Company was IN ccnflectIon
with the premium on Dutch ex
change. This shipment IS the sec
ond to go to Amsterdam since 49es
cember 1 The recent advance In
the florin to a level at when bank
ers find it more profitable to snip
gold than to purchase eHchangesaT
high premiums.
Folds, Buck & Co. report that the
new issue of $3.50, 900 Thinker De
troit Realty Company First Mort
gage per cent Serial Cold Bonts
were quickly sold and stlbsrriptAnta
books closed.
p. w. Chapman & Co., Haisey,
Stuart & Co.. Inc, and w. e.
Langley & CO., are Offering two
new issues OF bonds, the principal
and interest Of which are guaran-
teed by American Water Works 81
Electric Company, Inc.
One, the South Pittsburgh Water
Company first lien and refunding
mortgage per cent gold bonds,
series A, dated january I, slS25, and
due January 1, 1860, g offered at
81 land interest to yield about .bs60
per cent.