The Washington times., 1925-02-27
BANKERS OFFER
FARM LOAN
BONDS
Syndicate Will Sell $2,000,-
600 Issue of Denver Joint
Stock Bank SIS

0IOCk DdnN -
NEW YORK, Feb. I'll. F.
Rothschild & Co., New York; West
& Co., Philadelphia, and the
Guardian Trust Company, Cleve-
land, will shortly offer a new issue
Of $4,000, 900 Denver Joint Stock
Land Bank of Denver, Col, per
cent farm loan bonds, dated July
1, 1924, and January 1, 1925; que
July 1, 1854, and January /, 1853;
optional july /. 1884, and January
1, 1885. Principal. and semi-annual
interest is payable at the Chase
National Bank, New York city or
at the Denver Joint Stock Land
Bank, at Denver, Col. The bonds
are redeemable at par and interest
on any interest date after ten years
from date of issue. The bonds IRE
offered at 1921 and interest Yell
ing about 4.6S per cent to optional
date and per cent thereafter.
These bonds are the obligation OF
the Denver Joint Stock Land Bank
and are collaterally secured by first
mortgages on farm property. The
bank operates in the States Of Colo
RADIO and Wyoming, and it is the
policy Of the bank to restrict its
loans to selected sections Of the
territory in which it operates.
The bank is under private owner
ship and management, and its OPP
erations are restricted and super
vised by the Government. The
management consists Of men who
have had broad experience and who
are thoroughly familiar with gem
eral conditions and land values in
IL In
operates.
Goldman, Sachs & Co. and Leh-
man Brothers have purchased
50, 500, 900 Standard Milling Com
pany first and refunding mortgage
and lien twenty-year 5h per cent
gold bonds. due March 1, 1946, and
they will make public offering Of
same in the near future.
p. W. Chapman & Co., Inc, an
nounce that the issue of Com
mercial Station Postoffice (St. Paul,
Minn.) first mortgage per cent
sinking fund gold bonds, due July
Is, 1871, which they offered at
100 and interest. to yield 6 per
cent. has been oversubscribed.
Pittsburgh Steel.
Moore, Leonard and Lynch are
offering $500 s per cent cumu-
lative preferred stock and $4,000
shares common stock Of Pittsburgh
Steel Foundry Corporation. The
preferred stock Is priced at $40 per
share, to yield more than per
cent, while the common stock,
which is Of no par value, is offered
at $40 per share.
The corporation il being formed
to acquire the properties, business,
cash and assets of the Pittsburgh
Steel Foundry Company for the
purpose of recapitalization and set
ting up a financial structure t.
permit old and faithful employees to
acquire a substantial interest III
the business. To this end a large
amount of the common stock WI.
be placed in escrow with the Union
National Bank of Pittsburgh AMI
thus made available to employees I'd
purchase for cash. The manage
ment will be in the hands of the
men who have so successfully op-
Grated the company in the past.
The new capitalization consists
mortgage bonds, $750,000 per
cent cumulative preferred stock
and 80, 900 shares of common stock.
The balance sheet as of January 1,
1925, shows total net assets of
S2,712,3S9, equivalent to over $3.50
PEI share of preferred stock.
Spencer Trask & c.. has sold
$500. 900 per cent cumulative pre-
ferred stock, 10000 shares Class a
stock and 10000 shares of Glass 3
stock of the Purity Bakeries Cor
poration. This completes the fl
nancing for the acquisition of con
troll of tWenty-four baking plants
located In leading cities in ten
States, except in so far as addi-
tional shares may be required TO
be issued in exchange for stock OF
one company.
The Purity Bakeries Corporation
was incorporated December 1, 1924.
and has acquired 81 per cent of the
common stock ana 81 per cent OF
Baking Company and SO per cent
of the common stock and 80 per
cent of the preferred stock of the
Tristate Baking Company, Inc, and
IS acquiring all of the common
and preferred stocks of the Williams
Baking Company. 1t has also ar
ranged to purchase a majority OF
the capital stock Of the Nafziger
Baking Company. Through the
Purity Baking Company, the corpo-
ration also holds the entire capital
stock of the Wernig Baking Com
pany and the controlling interests
in the Banner Grocers Baking Com
pany and the Grocers Baking Com
pany. These several baking COM
panies serve a population Of several
millions Of people and have plants
located as follows: Minneapolis.
ST. Paul and Duluth, in Minnesota:
Detroit, Clint and Battle Creek, in
Michigan; st. Louis. Kansas City.
Springfield and Sedalia, in Missouri:
Cincinnati, Columbus. Hamilton. To.
NEUTRALITY-SUSPICIOUS.