The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
'
I*.
(m^aiai'-niUL^ .\khtWui i-ii:
tSk
ADM*
BUS.
1_IBB*kY
Sections—Section 1
2
Beg. U. 8. Pat. Office
,
•
WITH WHICH HAS BEEN COMBINED THE FINANCIAL REPORTER
New
Number 3977
Volume 154
Price 40 Cents
York, N. Y., Saturday, September 6, 1941
Copy
a
/'V
wsf00:msjmm;a n d c i ty d e pa rt m e n t
///-^'-/bond
■
North Little Rock Housing
ALABAMA,•.y-*.:
,•
Bond
Warrant Offering—Bids will be
Author¬
ity (P. O, North Little ,,-v
'
Rock), Ark. ■,»
Covington County (P. O. Anda- •h'l,
•;lusia) Alct )■'■, • lK-iV; ■;•
'
L. <:
proposals and negotiations
Offering
—
•/,
will
be
received
until
noon
District
Bonds Voted
.
y
.
the
of
O.
(P.
taxable
Del
to
include
City
making
such
building of
:
/•' • \^
Bond Call
; County
30
paid from the- proceeds of the
•special 3-mill county tax.:; Pur¬
chaser must pay for the printing
CALIFORNIA 7
:*W/-
Board
Commissioners
passed
the
The
—
on
of
an
a
easier
for
the
turing in
Aug.
hereto¬
fore
000.
'
<
ing
is
Due
all road and, bridge re¬
funding bonds dated NoV. l 1933.
--
.
bonds
Said
be
will
redeemed
Jacksonville!*, Fla.
•/
.
The
1;1941,, on presentation with all
subsequent; unmatured
coupons
115
on
enclosed
herewith.
V ;
.
bond will bear
the rate of
4%
the
to
maturity of the presently
outstanding
; b o n d
exchanged
therefor and 2%%
thereafter to
maturity.
The
new
bonds will be
date
September ly 1941 and will
mature September
1st of- I960
through 1869.;/, : >
r, h
.
Interest coupons on
the present¬
ly outstanding bonds which ma¬
ture prior to the date of any ex¬
change will be paid by the City
but
adjustment of unmatured
no
will
accrued
interest'
with
•
bondholders..
the
cases
Bond
at
plus ; accrued
interest •! evi¬
denced by coupons due on Nov.
par
the refunding bonds
exchangeable therefor,
refer to the reverse side
and
date of
Sept. Lin 1943 to 1962.
on
Nov.'' 1,
state¬
a
are
interest at
—
calling for payment op
earliest
outstanding
presently outstand¬
which are to be re¬
Each refunding
?
■
are
the
For
on.
please
pf the letter of transmittal which
"
cials
so
the
of
funded
for
presently
bonds
which
,
Coolidge - of Phoenix.
Dated Aug. 25,. 1941.
,^ i ,>w/(1 Denver (City and County) Colo.
The State Treasurer has been
Bond Call-^It.;is stated by F.
authorized to make- preparations
E. Wilson, Manager of Revenue,
to
issue
a
block ; of. $1,250,000
that he is calling for, payment re¬
bonds for this purpose,; as noted
in our issue of Aug. 30.-'T'LTL'; funding improvement series 1941
bonds, Nos. .151 to 250. Interest
Prescott, Ariz, r
ceases
30 > days^ from Sept.; 30.
Bonds Voted — P. H. Miller, Upon the request of the holders
City Clerk, reports that; $150,000 of any of the. above ..bonds re¬
refunding bonds were approved ceived 10 days before the expir¬
recently by the voters,, to pay ation of this call,. : Manager of
off the outstanding balance of a Revenue will arrange for their
1968
be
issued
and
ment
(City and County)
&
be
bonds
■
binette
to
maturing
published,, calling , for re¬ (EST), on Sept. 17 for the pur¬
demption on Sept. 1, any bonds chase of $97,000
of warrant blanks and .for secur¬
Housing Author¬
cai.
of the county and any of the spe¬
ity debentures (First Issue). Dated
ing the necessary legal opinion. A
cial road and bridge districts in Oct. 1 1941. Due on
certified check for $oOO is required
April 1 in
Bond Election—It is stated by
the county.
The action involves 1941 to 1958. ; Legal opinion oi
"with bid. >
'
David
A: : Barry,
Clerk of the
a
total
of
$1,395,000 refunding Reed, Hoyt. Washburn & Clay of
Board
of
Supervisors, that the
bonds whieh were sold to Church¬ New York..
ARIZONA
y; ;v::v.
board recently approved the plan
ill, Sims & Co. of New York and
which is to be placed on the bal¬
T ,.// i"y.'- Arizona, Stateof
High Springs, Fla. ? v v \
Carlberg, & Cook, Inc. of Palm
lot at the November election, sub¬
Beach. u
Bond Legality Approved —An
Certificates Sold—A $40,000 is¬
///'
mitting to the voters $66,500,000
issue of $1,500,000 1V4% tax an¬
sue of 4% semi-ann* water works
Hetch Hetchy revenue power Citrus County (P. O. Inverness),
revenue
certificates
is
said
ticipation bonds is said to have bonds. I?
to
-;;vv:y:. ^
Fla,-..^:,^^\X.-been approved as to legality by
have been purchased recently by
Bond
Call
The county offi¬ Kuhn, Morgan & Co. of
Gust, Rosenfeld, Divelbess, RoTampa.
San Francisco
will
inclusive.
$339,000
per
and for 1969 will be $337,^
The earliest refunding bonds
year
are
1969
1960 to
accord¬ inclusive
matter,
Housing • Bond
Offering
—
SealdH bids will be received by
John E. Coryell, Secretary of the
Housing Authority, until 1 p.m.
resolution rescinding
-a
notice of redemption
ma¬
dock at Carrabelle The maturities from 1960 to
harbor
bonds
on
..Raymond /of
$1,000 in 1942 to 1960, and $11,000 New York,
T/''
in 1961. The warrants are to be
for '•
refunding bonds
of
that an election held on Aug. 20, ing to Curtis Mc Lean, president
9, to 3 p.m.,
(CST), by E. B. Norton, County Sept.-17, by Laurence J. Berger,- resulted in favor of issuing $60,- of the Junior Chamber of Com¬
merce.
He states that out a pos¬
Superintendent of Education, for Secretary-Treasurer, for the pur¬ 000. construction bonds. ;:
the
sible 350 voters qualified to bal¬
purchase of $30,000 capital
chase of $63,000 housing bonds.
FLORIDA
lot in this election, the count was
"outlay warrants. Interest rate is
Oct.
1,. .1941.
Due from Brevard
not to exceed 3%, payble F—A. Dated
280 "for" to only 2 "against."
County (P. O. Titusville),
Denom.
$1,000.
Dated Aug.; 1, April 1, 1942 to 1958. Legal opin¬
Fort Lauderdale, Fla.
vi/Ty'*Fla.
1941.' Due on Feb.l as follows: ion of Caldwell &
received until Sept.
exchange
to
proposes
bonds
the,, flotation
We understand
—
is
property,
measure
,
more
School
y.:'\Newark),
bids
Sealed
DELAWARE
y
Newark
Exchange Plan Offered—
following letter was sent out
Aug. 18 by Natt T. Wagner,
Broadway, New York City:
ber
and then only
1,
1941,
interest
on
exceeds
the
date
after Novem¬
interest
accrued
on
bond
the
made
certain
where the accrued
the -refunding
bond
the
-
be
In
exchanged therefor on
such exchange, ' the
City of Jacksonville, Florida:
attached at the Guaranty Trust
difference in favor of the City
.The City of Jacksonville, Flor¬
Co., New York City.:
";
ida, .has maturing during each of must be paid by the bondholder.
y ">'/Carrabelle, Fla,; <
^;. the four years beginning 1942,
Assuming the
completion
of
Port District Created—An elec¬ $350,000 principal amount electric this -refunding program as of to¬
and
water
revenue '< certificates
tion was held on Aug. 19 for the
day, the schedule of maturities
$200,000 • issue, , dated
Sept.
9 payment at the Bankers Trust ratification of a bill passed by and in addition thereto has ma¬ of the City of Jacksonville set ;
1931.
Co., New York City,: but not the recent session of the State turing in bonds $765,000 in 1942, out .fuliy in Exhibit A attached
r
; ;
-•■L V"';"v' :vv -l"
otherwise.-,
/<
1943, $455,000
in hereto will permit the City withrLegislature, to set up a port dis¬ $1,595,000 in
ARKANSAS
1944 and $573,000 in
1945, aggre¬ in the next four years to make
trict composed of all of County
Pitkin County School District No.
of bonds ma¬ essential
Commissioners District No. 5, of gating $3,388,000
capital / improvements
Arkansas, State of
/'/y r
::L;
1 (P. O. Aspen), Colo.
,
The made necessary because of the
Franklin
T'
County.
The y purpose turing in such four years.
Bond Retirement Fund Award¬
To
Holders
of
Certain
Bonds
of
of
.
.
"
.
,
•
..
•
Bonds
ed—A trust fund of $2,206,984.56
created
the
by
1941
Highway
wald
F.
Offered
Benwell
to
■
Public—Os¬
of
Denver,
is
Interest
•
Bond
ment
Refunding Act, for retire-: offering for general investment
of road district refunding at prices to yield from 1.00% to
exempt from all present Federal Income Taxation
INDEX
bonds, which will mature in 3.00%, according to maturity, a
issue of ;3%.% building
was awarded to the Mer¬ $15,500
cantile-Commerce Bank and Trust bonds. Denominations $1,000 and
"B"
Page
1949,
of St. Louis by the $500. Dated Aug. 1, 1941. Due on
State Depository Board on August Aug
1,
as
follows: $1,000
in
26th. The bank will post Govern¬ 1942 and 1952, and $1,500 in 1953
to
1955. 1 Prin.
and ' int.
(F-A)
ment obligations to secure the de¬
Company
The
payable
at
of
;
Bank
Rates
Banks
Ow Subscribers
at
York
its
new
entirely beyond our control, brought about
by the unreasonable demands of labor unions.
stances
New
——
44
Railway Operating
of
spite of the fact that there is no disagreement
about wages, hours or working conditions, the de¬
mands of labor union officials are so unreasonable
Course
of
Bank
how¬
ever, carrying on under these adverse circumstances,
and we ask the indulgence of our subscribers for this
Redemption
unavoidable delay.
General
impossible to meet them.
We
are,
to
in
:
:•
1
Dividends
..
us
lot at
the
par
value
thereof
1948,
optional
are
1950,
on
January 1st
1956,
1958,
of each of the
1960 and 1961/
construction
years
1944,
in
purposes,
the
date
and
to
as
to rate
amount.
or
.
.
5-
yield 0.50% to 2.10%
coupon
rate
of 2
thereafter until redeemed
Fund
—
-.
HALSEY, STUART & OO. INC.
OTIS & CO.
INC.
47
CHICAGO
47
Dated
48
Investment
,
61
I
1,
1941.
Interest
payable. July .1,
1942
and
semi-annually,
July 1, thereafter. Principal and interest payable in Chicago,
Illinois. Coupon bonds in the denomination of $1,000, registerab> as to principal
only. The information contained herein has been carefully compiled from sources
considered reliable/and while not guaranteed p.s to completeness or accuracy,
Sept.
49
.
September
January
48
———
INCORPORATED
MULLANEY, ROSS & OOMPANY
No¬
—,
ELDREDGE &OO.
(INCORPORATED)
DARBY & CO.
Banks—48
and
are offered when, as and if issued and received
by
subject to approval of legality by Messrs. Chapman
& Cutler, whose opinion will be furnished upon delivery.
45
European Banks—___
Canadian
bonds
and
45
46
-
,
.
by
44
—
Sinking
Corporation
News
$55,000
for
These
1
1
......
•-
payment
1954,
optional
v
•
of
Condition
for
1952,
44
—
—-
-A
Bullion
1959;
Prices
44
Sales
tices
Gold
call
Bonds, to be issued
~47
Calls,
to
therein without limitation
Clearing
Weekly Federal Reserve Bank Changes
Auction
1957,
44
—
Clearings
Loans
subject
are
•'/..ad valorem taxes to be levied aga'nst all the taxable property
'
Exchange——____
Sterling
that it is
Income
Rates_„_
Money
Bonds
_________
Foreign Exchange Rates
Brokers
^
opinion of counsel will constitute valid and legally binding
obligations of the Sanitary District of Chicago, payable from
42
Acceptances
York
1955,
These
;
Member Banks—
of
Course
In
—
England Statement
Bankers'
L
>
'•/>■'<
;•
accrued interest on
the date
that
they severally become optional or on
interest payment date thereafter upon 30 days' published notice. $50,000 are
optional on January 1st of each of the years 1943, 1945, 1947, 1949, 1951, 1953,
43
—_______
_
of
1961
and
1946,
Central
Foreign
1
—
House
Bank
-
Reserve
Banks
Reserve
of
Weekly Return of N. Y. City
in
y'i These
"
43
(June)
.
l,
any
——————
—.—
Return
Weekly
43
—
43
Rates
Class I Net
Statement
New
——_——
Discount
Financial Chronicle
form; has been delayed due to circum¬
''Due July
of Reserve Banks
the
of
Condition
Discount
This issue of the Commercial &
2V4% Construction Bonds
Banks
Reserve
42
Note
Reserve
Weekly Return
(combined; :
Sanitary District of Chicago
41
...
Federal
the
er's office in Aspen.
LL//1.1'-/
33
August---
During
Issues
Denver.
1949, unless redeemed on
before that date.
in
Negotiations—
and
Bond."Proposals
Weekly Statement
(Individually)
County Treasur¬
Legality ap¬
proved by Myles P. Tallmadge of
tenders
■
"B" bonds will mature
The
Department
City
Municipal
,
posit.
and
State
,•
6,
1941.
and
we believe it to be correct as
•
of this date.
'
;V /T
:
.
FINANCIAL CHRONICLE
34
City.'
;
The
City
entered
'
/
■
June
herein.
to
Effingham County (P.
field), Ga.
Bonds
lanta
27,
about
or
will carry the
Y.
National
Barnett
jsonville,
of
Bank
letter
tal
to
'
letter of
with
issue
$389,000
Oct.
1
1941.
Trust
Housing
Authority
Lakeland), Fla.
O.
Offering
be
until
men.
YYY
.■
.
/Y Brimfield,
that
ed
V
authorizing
Tenders
connection
with
■:
■</.
has
been
.
issue
an
,
of
;
Carbondale, III.
of
Voted
We understand
—
recent election
a
an
to
the
if
thereon
are
of
collection.
of
that
Board
the
at
of
' :v
recent-elec¬
a
tion
$7,000 gymnasium bonds
approved.
;
Coupon
payable
Bids
Secretary
Education
be
1940.
est
were
/* 1
bonds,
dated ; Oct.
1
$1,000. Due $6,000
Denom.
Oct.
on
1 in 1948 and
payable A-O.
must
1949. Inter¬
Basis of about
1.24%.
made upon
the
."-;r
Sold—A
Bonds
•
Sandcreek Township (P, O, West-
$25,000 issue of
funding bonds is said to have
been purchased by Halsey, Stuart
—
for
Housing
Authority,
III,
Y.YYP°rt)> lnd?>h
'
Offering
—
Elmer
Director,
Bond*,
Stuart & Co., Inc., Darby &
/
Jolly,
announces
Sale
—
semi-ann.
& Co. of
Indianapolis:
*
?
Oct.
1
$31,000 School Township bonds
April 1 from
Due as follows:
1942 to 1961 incl.
$1,000 on July 1.
Legal opinion
of Chapman & Cutler of Chicago, 1942, $1,500,. Jan. vlt and $1,000.
July 1, in 1943 to 1954 incl.
w
Springfield Housing Authority, III.
31,000 Civil Township -. bonds.
> Bond
Offering—Hugh J. Dobbs, Due/$1,550 from Jan. 1, 1943 to
Executive:
•
Director,
announces 1962 incl.
Dated
est
on
-
-
-
v
West
Salem,
Pre-Election
Bond
III.
Y/'YlY;
Ind-
Bond- Offering
bids until
run¬
was
auction, going as
far as : 100.60.
Paine, ^Webber &
Co, dropped
out at 100.10 and
Daniel F. Rice & Co., at 100.06,
in
ner-up
*
the
the
for
Sioux
Y;
rate.
same
Sailors,
City
Independent School
(P. O. Sioux City),
District
7
Lee
Iowa
YV'
County Auditor, will receive seal¬
ed
The White-
Wabash),
■
—
ten bids submitted
VY
•:
(CDST)'-on i»' Bond Sale—The $20,000 semiSept. 20 for the purchase of $49,- ann. building bonds offered for
000 not to exceed 2%% interest sale at auction on Sept. 2—v. 153
bridge construction bonds. Dated p. 1159 — were awarded to the
10
a.m.
,
,
Sale
County * (P.- O.
J-D.
were
Phillips Company, Inc.,
all
Wabash
noon
opinion of Chapman & Cutler ol
Chicago.' /Y/YYH'^Yt
payable
There
for the above bonds.
sealed bids will be received
(CST) on Sept: 17 for
the purchase of $346,000 series A
housing
bonds.
Dated
Oct. •, 1
1941.
Due serially
on
April 1
from
1942 to 1961 incl.
Legal
153, p. 1304—were awarded
syndicate composed of Hal-
a
sey,
The
—
Sept. 20 1941,
Iowa-Des
Denom, $500, Due
follows: $2,500 on July 1 1942;
$2,500 on Jan. 1 and July 1 from
1943 to 1950 incl.; $2,500 Jan. 1
&
as
Municipal Bond Corp. of Chicago
Co., Inc., both of New York; Otis has purchased, subject to out¬
&
Co., Cleveland;
Eldredge & come of election on Sept. 30, the
Co., New York, and Mullaney, following bonds aggregating $68,Ross & Co. of Chicago, as 21A%s,
ooo:,.
Y:
Trust
National
Moines
Co.
of
Des
Bank
Moines,
as
0.75s, paying a premium of $25,
equal to 100.125, a basis of about
and
$2,000 July 1 1951, and $2,- 0.71%. Dated Oct. 1 1941. Due 011
Jan. 1 1952. Principal and Oct. 1 in 1943 to 1945./ Y
Y
at a price of 102.029, a basis of
,(J-J), payable
at
the
$13,000 4% water works improve.County Treasurer's office. A cer¬
'A,''-:
about
2.30%.
Dated
Slater, Iowa
■.-,■■■ ''.'kv ■*"/. 7"
Sept. 1. YYYY ment bonds.
Due $1,000
tified check for 3% of the bonds
1941.
Denom. : $1,000.
Due July Y-zYY; on 'Jan. 1 from 1945 to
Bond Election—The voters Will
bid. for, payable to order of the
1, 1961. Optional Jan. 1 as fol¬
-1957: incl.
- V;
pass on the
issuabc& of $65,000
;•£yw Board of
lows:
County Commissioners,
$50,000
in
1943; $55,000,
55,000 4t4%- water and sewer is
municipal
electric, light
plant
required.
2f
■ ■
?
1944; $50,000, 1945; $55,000, 1946; y';y Y' / revenue bonds. Due' Sept.
revenue
bonds ' at
an
election
$50,000, 1947, $55,000, 1948; $50,1
as
follows:: $500 ; from
scheduled for Sept. 8, according
000, 1949; $55,COO 1950; $50,000, (
1945 to 1947 incl.; $1,000,
to report.
y iowa
'v ' '•
Y.Y
!'•
t v)V-;/ '
}
1951; $55,000, 1952; $50,000, 1953;
Y/Y 1948 to 1951 incl.; $1,500,
V:''
\ * *(}'/■ ± ••
Clay County (P.O. Spencer),
■ V> •; \
$55,000, 1954; $50,000, 1955; $55,1952
to
1955 incl.;
Somers Consolidated School Dis$2,- 4;,Ji Iowa
000, 1956; $50,000, 1957; $55,000,
trict
000, 1956 to 1958 incl.;
(P. O. Somers), Iowa
Proposed Bond Offering—It is
1958; $50,000 in 1959 and $55,000
YYY;"
$2,500, 1959 to 1961 inch;
M Bond Sale—The $16,500' build¬
stated that the Board of
in 1960 and 1961.
County
V
■ and
$3,000 from 1962 to
ing bonds offered for sale on
Bands
Publicly Offered—Hal- YYY/Y 1971 incl. The last $30,- Supervisors will offer for sale
on
135
p.
1304—were
Sept. 15 an issue of $218,000 Sept. 2—v.
; ;/
000
bonds
maturing
in
sey, Stuart & Co., Inc., and assopurchased
by
the
Iowa-Des
1962 to 1971 are callable primary road bonds, pursuant to
cities made public re-offering of
Moines National Bank & Trust
the passage of a special
the bonds at a prices to yield from P.on any interest payment
legisla¬
tive act enabling such action. In Co. of Des Moines, as I V2S, paying
0.50% at 2.10% to optional date
In
ten¬
YYy/.Y.YY:-; --YYYY
-
000
on
,
interest
•
the city accepted ten-
■
$180,000 by RanCo.,
of
Wichita,
maturing July 1, 1961 to 1965, to
yield 3.381%
to 3.41%;
$15,000
by John Nuveen & Co., cf Chi¬
cago, maturing July 1,
1964, to
yield 3.36%, and $5,000 by Lee
Higginson Corp., of Chicago, ma¬
turing
July
1,
1965,
to
yield
son-Davidson
4
be
t(
serially
until
$65,000 water line construction
was
approved,
;/.• Y';//;//
—v.
follows:
as
interest
course
Legal opinion of
Cutler of Chicago,
&
bonds.
that
issue
bonds
Sept,
that
ders
the
same
-
1941. Due
water
bonds:
3, of refunding of
1940, series GM bonds, it is stated
by M. D: Cauthen, Qhief Accoun¬
;
the'
housing
p.m.
Accepted
the call
Bond
works
system
vA- Y'v- \/Y-L'V- :1
$39,000
Miami, Fla.
tant,
incl.
Executive
III.
ordinance
an
passed
from April 1, 1942 to 1958. Legal
opinion of Reed, Hoyt, Wash¬
burn & Clay of New York
on
will
by
The
following 6 Co., Inc., of Chicago, as IV4S,
building bonds aggre¬ at a price of 100.18, a basis of
that sealed bids will be received gating $62,000,
offered ; for sale about 1.23%.. Due on Dec. 1 as
until noon (CST) on Sept. 17 for on Sept. 2—v. 153 p. 1021—were follows: $8 000 in 1950, $9,000 in
'■ the
awarded to
purchase of $816,000 series A
Raffensperger, Hughes 1951, and $8,000 in 1952. Inter¬
—
ders
at
.
Peoria
Boiids Authorized—It is report¬
bids
1
Attorney
City
$100,000 bonds to pay the
salaries
of policemen and
fire-
(P. that at
Sealed
—
received
the
Chicago Sanitary District, III.
(EST), on Sept. 17, by R. E.
Bond
Sale
The
$1,000,000
Bates, Secretary, for the purchase
of $52,000 semi-ann.
First Series series 3 sewage treatment, con¬
struction
bonds
offered Sept.
4
bonds.
Dated Oct. 1, 1941.
Due
Bond
interest
Chapman
un¬
issue
Bonds
;/.
bear
1961
to
We
—
preparing necessary papers inorder that the City Council may
please
Lakeland
'
bid,
interest
stated
is
,
,/Y ,.;;;/YY,
is
for any fur¬
or
that
derstand
concerning this
communicate
With W. D. Bradford, 115 Broad¬
way,
New York, N. Y. who is
handling the details of the ex¬
change.
exchange,
,
premium
-
■
information
will
un¬
Sept. 17, for
on
a
Bonds to be Offered
duly
transmit¬
Manufacturers
the
'"'V Bond
the
Accrued
-
It
—
O.
the form provided
County Auditor and ap¬ Mcnroe
County (P. O. Albia), Iowa
proved by the Board of Commis¬
Granite City Housing Authority,
Bonds Sold
The County Trea¬
sioners and /accompanied
by an
n'i
'
y,,, , affidavit of non-collusion as
surer
states
that
$12,000 semipro¬
Bond Offering—T. J. Richards,
vided by law.
county
jail
construction
The opinion as to ann.
Secretary - Treasurer, announces the
bonds were offered on Aug: 28
validity of the warrants shall
that sealed bids will, be received
be furnished by the bidder .'"En¬ and awarded to the Peoples Na¬
until 1 p.m. (EST)
on Septi. 17 close a
of Albia,
certified check for 3% tional v Bank
as
IV4S,
for the purchase of $97,000 series
of the-par value'of the warrants paying a price of 100.016.>
>; • '
A housing bonds. Dated
Oct. 1 bid
upon, payable to the Board
1941. Due on April 1 from 1942
/
Muscatine, Iowa
of Commissioners.
/
v
ILLINOIS
Bonds also may be for¬
ter of transmittal
ther
any.
by
Belleville, III.
Company, 55 Broad Street, New
York, N. Y., which is acting as
agent for the Jacksonville banks.
For additional copies of the let¬
•
therefrom
paid
Bonds Voted
deducting
(P.
.
'""executed.
warded,
of transmittal
of
mond of New York.
Jacksonville,
Jacksonville,
'Florida, accompanied by the en¬
closed
be
maturity and
bonds.
April 1 1942 to 1961.
Legal opinion of Caldwell & Ray¬
Atlantic National Bank
the
to
or
bonds will
to
out of taxes heretofore levied for
the County Welfare Fund and in
from
Yof
.
rants
as
then now carry, Messrs.
Chapman and Cutler, of Chicago,
Will render their approving legal
opinion on the new ♦ refunding
Sealed bids
by G. E, Mark-
(EST),
purchase
Due
Jack-
the
exchanged, inter¬
are
old
At
rates
—
bonds.Dated
of
Florida,
Jacksonville,
all
date.
1, 1941, the date of the computed on the basis of the bid
refunding bonds. The bonds rate accepted. The warrants and
will
O,
(P.
Marquette School District
Marquette), Iowa
Oct.
to
bonds.
that
on
bonds
on
new
purchased
Secretary-Treasurer,
1 p.m.
the
'
callable
—
til
be forwarded to the
may
Offering
received
be
waiter,
ap¬
'vy'Y'Y
Bonds
:
have
to
Housing Authority
Macon), Ga.
Bond
will
Wood & Hoffman, New York,
son,
N.
At¬
„
proving opinion of Messrs. Thom.
said
time
and
of
but
retired
est
Bank
refunding
Macon
1, 1941.
September
These bonds
National
is
$80,000
thorizing the issuance of the ap¬
propriate refunding bonds and it
is expected that such refunding
bonds will be ready for delivery
on
1961,
in various the lowest net interest cost, to
1, 1943 to 1958; be determined by computing the
The $5,000 due Sept. 1, 1941 will total interest on all of the war¬
O. Spring¬
Citizens
Sold—The
Southern
On
1941 the City of Jack¬
sonville adopted a resolution au¬
.
1,
amounts from Jan.
New
of
be
Undersigned, whereby he is to as¬
the City of Jacksonville in
consummating the exchange of
referred
Raymond
the
sist
bonds
&
York.
has
with
contract
1961. Legal opinion of
to
Caldwell
•
Jacksonville
a
in 1942
the
-
of
into
of
growth
unprecedented
Saturday, September 6, 1941
'
"
•
*
-
•
,
v
-
3.366%.
>
Winter
,
Haven, Fla.
Debt Refunding Program Near-
ly
Complete—It is reported that
^...-Y-Y. date, in numerical order,;
a
price,oL 100.56, according to re¬
county voted to issue a
Y1
$1,273,000 primary road port.
:/Y?YYY';' YYy'Y-'
other bids for the issue, all of
All of the bonds will be dated bonds, but due to the lapse of
Van Cleve
Consolidated
School
standing bonds of the 1935 issue. which named an interest rate of Sept. 1 1941. Principal and in¬ time in
issuing the remaining
District (P. O. Van Cleve), Iowa
The new bond issue
terest (J-J and M-S),,payable at $218,000, the special act was re¬
aggregating 2Y4%, were as: follows:
$2,100,000 is now being printed
Bidder
•'
the First National Bank of-Chi¬ quired. ..."Y;
■'
■'?*
Rate Bid
Maturity
It is stated by the
the above city is nearing
comple¬
tion of its debt refunding
program
and will call on Oct. 1 the out¬
and
'
after until redeemed. Some of the
Chase
and
rate of 2.Vi%
coupon
there¬
on
and
-
after
Sept.
1;
1961. '
1930
the
total
of
-
■:
will
be
offered
the
near
be
available
called
future
in
on
Under
i
the
i^heeler
&
to
is
in
bonds
guaranteed, with
refunding agents committed
buy in all of the outstanding
securities
that
cannot
be
ex¬
of
New
York..
101.909
cago.
and
Robert
Bankers
Trust
Hawkins
Co.
of
&
New
Co..,'
York
Fairfield, Iowa
v 101.82
Bonds
INDIANA
and
that
Hammond City
Co.,
Chicago, A. G. Becker & Co.,
Farwell, Chapman & Co. and Boat¬
.
men's
National
1
Bank
101.591
Smith, Barney & Co., R. W. Presspricn & Co.. Roosevelt & Weigold,-Inc.
and
G.
M.-P.
Murphy & Co.
Harris Trust & Savings Bank, Northem Trust Co. of Chicago, Continen¬
;
Housing Authority,
Ind.
a
/
Voted—We
tors
understand
of
recent election resulted in
favor of issuing
tem bonds.,
Bond Offering — P. V. Roche,
Secretary - Treasurer, announces
—
Secretary of the Board of Direc7
Y'v'Y'Y'
■
-
in
connection
$11,000
bonds
$65,000 water sys¬
Y
;/Y
to
with
semi-ann.
the
the
sale
,' building
Securities
Savings
Bank, of Marshalltown, as 'iy2s,
that the bonds mature $1,000 from
Nov. 1, 1943 to 1953, giving a net
.
/nwood,
:•
Iowa^ (/V,A'.'Y
income basis of T.46%
stated.by C.
/
Y•
(CST) on Sept. 17 for Pruitt,-Town Clerk, that the re¬
tal Illinois National Bank & Trust '
3
YY KANSASYf, Y
Co., First National Bank of Chicago,
/
the purchase of $227,000 series A port, given here on Aug. 23, that
City National Bank & Trust Co.,
Arkansas City, Kansas
•
'*<
housing
bonds... Dated; Oct. ,1; $6,500 water works bonds would
Chicago,
and
American
National
i' u
Bank
&
Trust
Co,.,
101.519
194L.
Due serially on April L be offered for sale on
National
Sept. 3.— ./Bond Sale—The $90,000 semiCity
Bank
of
New
York,
". <
Kidder,
Peabodv
&
1942 to 1961 inch.Legal, v. 153 .p: 1159—was erroneous. ; ann/ joint airport, general bonds
Co.,
Paine,
.;
'• from
Webber & Co,, Graham, Parsons &
J
offered for sale 1 on Aug. 25—v.
opinion of Chapman & Cutler, of
Co. and D. T. Richardson & Co... .101.459
Jacksonville Township School Dis- 153
Chicago.
p. 1159—were awarded to the
Y- V. Clifton, III.
1 trict (P. O. Lawler, R. D. No.
MercantilerComnierce V Bank
&
Marion County (P. O. IndianBond Issuance Contemplated—
Trust Co. of St. Louis, and Stern
| ,
1), Iowa
V
apolis), Ind.
We understand that ail issue of
Bonds Voted ^ It is stated by Bros. & Co. of Kansas City, Mo.,
Warrant Offering—It is stated Orville Hereid, Secretary of the as
$46,000 water revenue bonds may
lVaS, paying a premium of
be issued.
'
Board of Education, that at a re¬ $238.50, equal to 100.265, a basis
by
Glenn
B.
Ralston, "County
j A
of about5 1.08%:-'Dated
election
Auditor, that he will receive seal¬ cent
$5,000
building
Sept. 1,
Cook County School District No.
ed bids until 10 a.m. on Sept. 13 bonds were voted.' /
1941. Due $4,000 on March 1 and
•
\
I70> M(CDST),
for
the
purchase
of
$5,000 on Sept. 1, from 1942 to
Louisa County Drainage and Levee, 1951
Proposed Refunding — M. B. $200,000 not exceeding 5%
incl.
•'
/ i;'
>
tax
Vick & Co, of Chicago have been
Second best bid was an offer
anticipation
warrants.
Dated Districts (P. O. Wapello), Iowa
101.555
that
)
until
sealed
bids
vCorrection—It
will be received
is
noon
■
.
,
changed.
The
Bank
Fenn & Co., Inc., B. J. Van
Ingcn-'& Co., R. H. Moulton & Co.
-
H.
Davis
&
Co.^,101.699
Harriman. Ripley & Co., Inc., Illinois
refinancing
by Lieedy,
Orlando, a
of
National
Phelps,
Paul
1st..
new
Co.,
100%- refund
sale
off
pay
October
negotiated
program,
the
to
for
that funds will
so
■•r•*
■
-new
bonds
provide. for(drastically reduced interest rates
and contain other provisions that
will lighten the debt load of the
.
,
k-
*
.
•
'
-
municipality,
Under
fixed
terms
debt
provided
'
it
of
the
program
a
assessment
service
to
declared.
was
is
establish
a"
fixed
assessment and prevent excessive¬
ly high tax rates in the future.
Leedy, Wheeler & Co. has guar¬
anteed
'f
•
a
par
bid
on
•
_
.
the issue.
'
GEGRGJA
•
to
undertake
Authority (P. O.
ing
of
the
entire
Decatur), Ga.
I ■
bonded indebtedness
■
Bond Offering — Sealed bids
will be received by'W. F.
Tabor,
-
.
authorized
Decatur Housing
,
(
■
trict and
holders
are
the
refund¬
Sept. 30
1941.
Denomination
Due Dec.
outstanding
000.
of
and interest
the
dis¬
15,
1941. Principal
payable at the Coun¬
Treasurer's office.
The war-'
submitting to: bond¬
ty
details
rants
of
the
$5,-
Bonds
of $64.80 premium on
lVss, tend¬
Corpor¬ ered by > a group composed of
ation is said to have purchased at Brooks-Milburn,
Inc.,
the - Lapar, the following 4% semi-ann. throp-Hawk-Herrick
■ Co.,
Inc.,
Sold
to
RFC —The
construction;; Finance
Re¬
;
will be sold to the highest bonds aggregating. $37,500:'; $30,- both of
Wichita, and Estes, Sny¬
Executive-Director, until 1 p.m. posed refunding plan. The
plan responsible bidder who has sub¬ 000 Drainage-District No. 22, and' der & Co., Inc; of Topeka.:'!
(EST), on Sept/ 17; for the pur¬ provides fpr the issuance
pf $366,- mitted .hi$.bid in accprdhnce;with- $7,500. Levee District No. 8,< re¬ Y' ('This/ notice ^ was ' Incorrectly
chase df $98,000 semi-ann. bonds. 000. Yefuriding
bonds;" dated as of the notice" of sale.
The highest funding 1 bonds.Datbd 'Inarch ^ 11 insefted ' under ^ ( h e,l Arkansas
Dated Oct, 1 1941. Due on
April 1 Get. 1, 1941,-and due as of Jan. bidder will be the one who offers T94ir""""'"y
'' 7 items, in our issue of Aug.
30.D;
pro¬
j
,
•
-
•
f
School
Topeka
Topeka),
;
MASSACHUSETTS
(P.^Ch
District
35
FINANCIAL CHRONICLE
Number 3977
Volume 154
Kan.
sealed tenders
receive
.
ing bonds
Brockton, Mass.
on
or
of refund¬
before
Oct.
15
Delton
;;7
1941.
Agricultural School sessment District Portion on.dnDelton), Mich., 'I dividual issue), and shall stipu¬
late the lowest price at which the
Sale—The $15,000 semi-
Rural
District
Bond
(P.
O.
The $197,000 1%
Bonds Sold—It is stated by Leo
ann.
coupon school bonds offer¬
semi-ann. building bonds offered V.
Clancy, City Treasurer, that Bannister School District (P. O. ed for sale on Sept. 2—v. 153 p.
for sale on Aug.
30—v. 153 p. a
$40,000 issue of surface drain¬
Bannister), Mich.
: 1305—were
awarded
to
Paine,
1304—were awarded jointly to the
age and sewer bonds were award-;
Webber
&
Co., of Chicago, as
Harris Trust & Savings Bank of ed on
Bonds Voted
We understand
Sept. 3 to Tyler & Co. : of
114s, paying a premium of $6.90.
Chicago, and Estes, Snyder & Boston, as l^s, \ at a price of that at a recent election $7,500
equal to 100.046, a basis of about
Co., Inc. of Topeka, at a price of 100.333, a basis of about 1.19%. construction
bonds
were
ap->
1.235%. Dated Aug. 1, 1941. Due
100.239, a basis of about 0.95%, Denom.
$1,000.Dated Sept.- 1; proved.' ;hY y 'y/y::'7 7/y1''1
$3,000 on July 1 in 1942 to 1948.
Dated Sept. 1 1941.
Due on Sept. 1941. Due $4,000 on Sept. 1, in
1 in 1942 to 1951 incl.
and Harrison' Townships
1942 tor 1951 incl. Prin. and int; Clinton
Detroit, Mich.
,
Fractional School
District No. 7\
(M-S) payable at the National
Bonds Purchased
In connect
KENTUCKY
(P. O. 'Mount Clemens), Mich, t tion with the call for tenders on
Shawmut Bank of Boston. Other
,y
/"
o
bidders:
vvif Bloomfield, Ky.
(for ,„VA%)
Chace,
Bonds Not Sold—No bids were Sept. 3 of non-callable city bonds.
Whiteside
&
Symonds v 100.30;
Price Paid -— It is stated that
Oakmah, City Con¬
submitted for the $50,000 refund¬ Charles G.
Lyons & Shafto 100.299; Second
the $50,000 VA% semi-ann. build¬
ing bonds offered for sale on Aug. troller, reports that the sinking
National Bank of Boston 100.294;
fund purchased $665,000 bonds at
26.
1
ing revenue bonds sold to Stein
an
Bros. & Boyce' of Louisville—v. Bond, Judge & Co. ,100.234; Na^j
average
yield of 2.4884%. •
tional
-Shawmut
Bank
Dated Aug. 1, 1941.
100.23;
Denomi-f
153 p.
1304—were purchased at
Graham, Parsons & Co. 100.146; nation $1,000. Due April 1, as fol-r
Y:;'Y Dowagiac, Mich.
'
a price of 102.00, a basis of about
(for
1V2 %) • Estabrook
&
Co. lows: $2,000 in 1943 to 1952 and
Bonds
Sold
The Dowagiac
3.03%.
Due on June 1 in 1942 to
100.06.
P:
$3,000 in 1953 to 1962. > Bonds National Bank has purchased art
1960; callable on or before June 1
maturing in 1960 to 1962, will be issue of $12,271.38 4%
special
1946.
V ."
Massachusetts, State of
^
subject to redemption - prior to assessment paving bonds, due se¬
Crittenden County (P. O. Marion),
Savings Bank Legal Investment maturity ;., in
inverse
numerical rially from 1942 to 1951 incl.
Bond Sale
—
will
owner
November
such
sell
attached.
coupons
with
bonds
1, 1941 and subsequent
r
Bids shall remain firm
throttgh
'
—
•
—
September
18,
1941.
All bonds purchased shall be de¬
livered to the paying agent de¬
Thursday,
signated in the bonds on or be¬
September 22, 1941, accrued
interest being computed to that
date.
No tenders above par and
fore
accrued
right
reject
any
and
Monroe
—
consid¬
be
can
The
j
,
interest
ered.
all
(Pi,
County
reserved
tenders.
O.
is
to
Monroe),
Mich.
■
Wanted—F.
Tenders
Gilles¬
E.
pie, Clerk of the Board of County
Commissioners, will receive seal¬
ed
tenders of highway refund¬
March
dated
bonds,
ing
1939,
1
.
Ky.
Laws
Readjustment Agreement
—The Kentucky Counties Bond¬
holders' Committee, 135 South La
Debt
'
Chicago, 111., is advising holders of the county road
and bridge bonds that it has an¬
alyzed the county's financial con¬
dition with a view toward reor¬
Salle
'
St.,
ganizing the road and bridge in¬
debtedness on a permanent basis
has
it
and
entered into an
now
agreement with the county to re¬
adjust the county's obligations.
School Company
High
Fayette
•
(P. O. Lexington), Ky.'
v;
al
Bonds Sold—The First Nation¬
Bank & Trust Co. of Lexing¬
purchased
ton/is said to have
$21,000 school bonds,
Municipal Housing
(P. O. Madison¬
ville), Ky.
Madisonville
Commission
Offering
Bond
v
Sealed bids
until
noon
—
received
be
will
(CST), on Sept. 17, by Walter
H.
Cox, Chairman, for the purchase
of $38,000 bonds.
Dated Oct. 1,
1941.
Due from April 1, 1942 to
-
letter
Amended
sent to
was
Eric
by
—
The
us
following
on
Aug. 29
Di¬
Rice,, Assistant
D.
order, at par and accrued inter¬
est; upon 30 days' published no4
inter¬
and after
the
House, Boston:
following
dates,
to-wit:
We are in receipt of your let¬ Bonds maturing in 1962, on and
ter
dated August
27, 1941, in¬ after Oct 1, 1942; bonds matur¬
quiring with respect to any poss¬ ing in 1961, on and after Oct. 1,
ible changes that may have been
1943; ;. and
bonds maturing in
tice,
rector, Division of Savings Banks,
est
any
on
one
or
dates
payment
more
on
State
District
(P. C. Melvindale), Mich.
Ecorse
No. 11
Sale—The
.Bond
Chicago.
Cutler of
LOUISIANA
Ferriday, La.
for
issue
an
sumbit
to
23,
Sept.
been
has
election
an
voters
understand
called
Election—We
Bond
that
refunding bonds offered Aug.
27—v. 153, p. 1160—were award¬
ed to H. V. Sattley & Co., and
the Peninsular State Co.,
the
investment laws for
1960,
will
be received
Sept.
Town
1, 1941. Due on April 1 from 1942
1961 inclusive.
Legal opinion
Reed, Hoyt,- Washburn &
Woburn,
improvement
public
$25,000
Interest rate is not to ex¬
bonds.
Bond
Sealed bids
16, by John J. Martin, Jr.,
Clerk, for the purchase of
6%, payable M-S.
Denom.
$500. Dated Sept. 1 1941. Due on
ceed
1 in 1944 to 1961. The ap¬
proving opinion of B. A. Camp¬
bell of
New
Orleans, will be
furnished. A $500 certified check,
company
to the town,
the bid.
(DST)
chase
on
of
Clay
municipal
Due
•
and
on
after
Oct.
1,
1944.
Detroit,
12,000
2
%
1944
48
4,iaW
2
>Jc
lot*
49
5,000
2,000
4,000
2,000
6,000
1,000
5,000
1,000
2
%
1944
l3/4%
%
i3A%
1943
50
50
$4,000
bonds.
annually
V;5'
12,000
macadam
pavement
bonds.
Due
Sept. 1 as follows: $3,incl.
000 in 1942
must ac¬
on
1951
and 1943, and
$2,000 from 1944 to
Y
1946
/ y y:
1
O. Baton
•
assessment
sewer
and
paving
Wayne County, Mich. f Of $118,000 water supply and fire
protection bonds. A date of sale bonds.
; :■' - •'
Offering—H. E. Hemans, foi* these bonds is to be fixed in
District
Taylor'ATownship School District
Secretary, will receive
the near future.
No. 4 (P. O. Route No. 1,
?
sealed bids until 8 p.m. (EST) on
Dearborn), Mich.
Midland, Mich.
Sept. 8 for the purchase of $103,No.
4,
000
coupon
will
Nos.
be
inverse
and
refunding
Dated Aug. 15 1941.
1941.
81
to
103
both
incl;
subject to redemption, in
numerical order, at par
accrued
interest,
upon
30
published
notice,
on and
after the
following dates: Nos.
98 to 103 on and after July 15
scheduled for
Michigan
(State of)
1306—was
Highway Department Asks Ten¬
ders
of
Refunding
Bonds
—
G.
Dated Sept. 1
ly.
highway refunding bonds until 2
p.m. on Sept. 15, at the office of
the Director
of
Finance,
State
No.
..
.
.
.
......
.........
.............
..
*,...,..
1
..............
....
........
......
....
,
....
edition of Storey,
Thorndike,
Palmer
&
publication, entitled "Bond Dodge of Boston will be furnish¬
Structures
isiana
value
State of Lou¬
Parishes," which
much
information
of
of
and
contains
1941
the
Its
dealers, institutions or
have an interest
to
individuals who
in
Louisiana securities. Upon re¬
quest, the above named firm, lo¬
cated in the Whitney " Building,
.
will send
a
copy
gratis.
.
,
ed the
successful bidder.
amount.
A
certified
check
for
492
of the bonds, payable to or¬
der of the District Treasurer, is
2%
Oakland
492
County
.......
17,000
...............
9,000
Portion
Townships
492
Portion
Assessment
District
501
Counties,
Townships
.7..
30,000
District.
1,000
Portion
and
7,000
Bids shall be condi¬ 1120 County, Townships and District
All tenders shall be submitted
tioned upon the unqualified opin¬
MICHIGAN
ion of Miller, Canfield, Paddock in
writing, sealed and marked
Avon Township Fractional School &
of
Bonds",
and
shall
Stone, of Detroit, approving "Tender
District No. 2 (P.O. Route 2,
the legality of the bonds.
Cost specify the Road 4Assessment Dis¬
Rochester), Mich.
of legal opinion and of printing trict number, the bond numbers,
the Obligor "(whether Township
Tenders Wanted — Frank W. the bonds to be paid for by the
successful bidder."""
Portion, County Portion, or As¬
Guthrie, District Treasurer, will
required.
.
153 p.
indefinite¬
2—v.
1941.
Due $2,~
1942
1
Donald
1943;JNos. 92 to 97 on and after
July 15 1944; Nos. 86 to 91 ori
and after July 15 1945; Nos. 81
to 85 on and after July 15 1946;
June
from
000
Kennedy, State Highway incl.
Commissioner, will receive seal¬
Warren
ed tenders of assessment district
daj's
Sept.
postponed
1946
to
Y:.-;:
Township School District
(P. O. Center Line), Mich.
2
Bond
Offering
—
H„
Ernest
Schoensee, District Secretary, will
bids
sealed
receive
until
8
p.m.
for the pur¬
chase of $139,000 coupon refund¬
ing bonds of 1941. Dated Aug. 1
1941.
Denom. $1,000.
Due Nov.
1 as follows: $4,000 in 1943; $5,000 from 1944 to 1947 incl.; $8,~
(EST)
on
1948
000,
1959
$10,000
incl.;
incl.; and $7,maturing in
Bonds
1960.
in
16
1953
to
1954 to
from
000
Sept.
.......
their
1943
,
•
'
the
1914
2
'
Highway Dept., Room 332, State
Rouge), La.
All of the bonds will be dated
Bond, issue to
bear interest
at Office Bldg., Lansing, for the fol¬
Pending — We Sept. 1 1941. ? Denom. $1,000. Rerate, or rates, expressed in mul-t lowing described issues:
undestand that a mail ballot is gisterable as to principal only, or
Estimated
tiples of Vi of 1%, not to exceed District
No.
to be taken of State House and as to principal and interest. Prin¬
Obligation of
Funds
3% to
and
including
July
15 294 Counties, Townsnips and District.$ 8,000
Senate members on
a
proposal cipal and interest (M-S) payable
449
Counties, Townships and District.
9,000
1946; not more than 3y>% there-j 451
Counties, Townships and District.
2,000
to' issue
$540,000 of ; bonds to at the " First National Bank of
after to July 15 1951, and not to 462
Counties, Townships and District. 27,000
maintain the Department of Fi¬ Boston: The bonds will be gen¬
463
Counties, Townships and District. 19,000
exceed 4%
thereafter. Principal 467
Counties,. Townships and District.
5,000
nance, paying agent for many of eral obligations of the city, ex¬
Townships
Portion
3,000
and interest (J-J 15) payable at 471
the State's, welfare and institu¬ empt ; from
taxation '; in Mass¬ the Manufacturers National Bank, 471 Assessment District Portion ;,,. 21,000
473
Oakland
County
Portion
2,000
tional
undertakings.
The move achusetts, and all taxable proper¬
Township
Portion
2,000
Detroit.
Bonds will be general 473
473
Assessment
District
Portion
24,000
was
necessitated; by
the fund ty in the city will be subject to
24,000
obligations of the district, which 473A. Assessment District Portion
Oakland
County
Portion
7,000
shortage created by the invalida¬ the levy of unlimited ad valorem is authorized -and required by 474
474
Townships
Portion
8,000
taxes to pay both principal and
tion of the reorganization act.
Assessment
District
Portion
34,000
law to levy upon all the taxable 474
475
Macomb
County
Portion
7,000
interest. .Bidder to name one rate
2,000
Louisiana, State of
property therein such ad valorem 475 Townships : Portion
of
interest on- each
issue in a
475
Assessment
District
Portion
10,000
taxes as may be necessary to pay
481
Macomb
County
Portion
7,030
Debt
Structures of the
State multiple of % of 1%, but the
Townships
the bonds and interest thereon, 481
Portion
2,000
30,000
andt Its Parishes — Scharff & rates need not be the same for without limitation as to rate or 481 Assessment District Portion
484
Counties, Townships and District. 10,000
loans.
Legal
opinion
of
Jones, Inc. of New Orleans, are both
491
Counties, Townships and District. 11,000
distributing
)<u2,
47
at
Election
Bond
Maturing;
May 1
U'2%
$ 1,000
Bond
Bonds
relief
Sept. 1 from 1942 to
■
J.
Michael
follows:
as
$40,000
>
Mass.
—
Treasurer, will re¬
bids until 11 a.m.
divided
,_incl.
Louisiana (P.
•IS*
follows:
as
Rate of
Interest
Bond Sale Postponed — It is
bonds of
Bond Offering Pending — We
Denom. understand that an issue of $14,- stated by Edward E. Revolt, Di¬
$1,000. Due July 15 as.followsj 600 sewer completion bonds is to rector, that the sale of the $10,Sept. 10 for the pur¬ $5,000 from 1942 to 1958 incl.j1 be placed on the market in the 000 not to exceed 4% semi-ann.
1959 to .1961 incl; near future. Denom. $1,000.
building bonds, which had been
$52,000 coupon bonds, $6,000 from
Offering
Curran, City
ceive sealed
Sept.
payable
Par Value
51
' *"«•„
of
until 11 a.m. on
Amount
Dist.
'■
Gueydan, La.
—
described
are
Asst.
,
of New York City.
Offering
Bond
be
.
water
$65,000
of
both of
interest
bonds for which tenders are
invited
will
considered.
and
«
to
bonds.
plant
tenders
No
and:: Associates, as 3V2S. 51
2
1944
%
1943
1%%
par.
Dated Sept. 1, 1941. Due 52
1944
2
%
52
Massachusetts
Mutual
Savings Rate or rates of interest to be in March 1 as follows:
1943
\3\%
$15,000 from 53
1942
Banks.
' v{.' yY y V-''}
IV2 (/o
2,000
A W',- multiples of A of 1 %, not exceed¬ 1943 to 1945, incl.; $16,000 ir 54
1943
56
5,000
Wo
In this respect we wish to ad¬
1944
2
55
ing 2V2% per annum to and in¬ 1946; $30,000 from 1947 to 1956
%
7,000
1943
56
Wo
4,000
vise that the savings bank invest¬ cluding April 1, 1947, not exceed¬
1943
57
incl.; $35,000 from 1957 to 1961
Wo
3,000
ment statute of our general laws
1944
2
%
2,000
ing 3% per annum thereafter to incl.; $45,000 from 1962 to 1966, 57
1942
Wo
59
2,000
was
completely revised at the and
including
April
1,
1952, incl.; and $42,000 in 1967. Bonds 59
1943.'-.
3,000
Wo
1944
2
60
%
1941
session
of the legislature. not
3,000
exceeding
3^2%
per maturing in
1965 to 1967, both
1945
60
Wo
6,000
For your convenience we are en¬ annum
1944
thereafter
to
2
maturity. inclusive, will be subject to re¬
61
4,000
</o
1943
62
Wo
3,000
closing a revised copy of Section Principal
and
interest
(A
& demption prior to maturity, ir 63
1945
2U %
3,000
1943
64
2,000
Wo
54, of Chapter 168 of the General O
1)
payable
at
the
Detroit inverse numerical order, at par
1944
2
65
; " 5,000
%
r
Laws known as Chapter 413 of the Trust
1945
2
2,000
Co., Detroit. General obli¬ and accrued interest,
upon
,3C 65
J/4 %
1945
67
Wo
4,000
Acts of 1941. Please observe that
gations of the District, which is days published notice, on any one
1945
67
Wo
4,000
Section 12 of this chapter makes authorized and
1944
2
%
2,000
required by law or more interest payment dates 68
1945
68
2,000
Wo
this law effective December 1, to levy upon all taxable
1944 :■
property on and after the following dates
2
69
%
1,000
1945
2 V4 %
69
1941.
3,000
therein such ad valorem taxes as to wit: Bonds maturing on March
2
1944
70
1,000
%
(Ed. Note—Due to the lack of may be necessary to:' pay the
1945
70
21/4%
2,000
1, 1967, on and after March 1, 71
1944
2
%
2,000
space, the sections affected can¬
bonds and interest thereon with-?
1945
71 •
2\'4%
2,000
1944; bonds maturing on March
not be reproduced here in their
1945
72A
3,000
out
limitation
as
to
rate
or'
2\y/„
1, 1966, on and after March 1.
1946
2 V4%
72A
1,000
new
form.)
amount.
Bids shall be condition¬
1944
2
%
3,000
1945; bonds maturing on March 72B
1945
72B
2\\%
1,000
ed upon the unqualified opinion
New Bedford Housing Authority,
1, 1965,/ on and after - March 1,
of
$127,000
Miller, Canfield, Paddock & 1946.
'
'
Mass.
Y."
{,
••r,
Stone,
of
Detrpit,
approving
Kalamazoo
Saginaw, Mich.
Township,
Eastwood
Bond Offering
—
Thomas E. the legality of the issue.
The
Water District (P. O. Kalama¬
Bond
Offering Considered—It
Sheerin,
Chairman,
announces cost of such opinion and of the
zoo), Mich.
that sealed bids will be received
is reported that the State Public
printing of the bonds will be paid
until 2 p.m. (DST) on Sept. 17
Bonds Approved—It is report¬ Debt Commission is considering
by the District.
■
for the purchase of $277,000 se¬
ed that the Township Board met an application of the city for per¬
ries A housing bonds. Dated Oct. Dearborn
Township School District recently and • approved an issue mission to issue $69,500 special
made in
the
to
.
cou¬
pon
'
Legal opinion of Chapman
1958.
&
$803,000
(EST) on Sept.. 23.
at prices above par
a.m.
The
School
Township
11
until
1957, 1958, 1959 and 1960 will be
at par and accrued
interest, inverse numerical order,
on 30 days' notice by publication
in a paper circulated in the State
of
Michigan which
carries
as
part of its regular service notices
of the sale of municipal bonds.
redeemable
The bonds will be callable
lows: Nos.
Nov. 1
133 to
or
to
as
or
fol¬
after
1943; Nos. 113 to 122
1 1944; Nos. 103
after Nov.
112
The
on
1942; Nos. 123 to 132 011 or
after Nov. 1
on
139
on
bonds
or
after
will
Nov.
bear
1
1945.
interest
at
rate, or rates, expressed in mul¬
tiples of y* of 1%, not exceeding
3% to Nov, I 1941, and not ex¬
a
ceeding
3^%
thereafter.
Prin-
-
36
FINANCIAL
,
^
„
•
-
'
f
«
v.
•
,
furnished without expense to the
I
•>.
CHRONICLE
*
•
•
•
•
" *
•
•
-
-
•
•
5•
.
■
-
Saturday, September 6, 1941
j
.
'
■
(A-O)
purchaser.
payable
Co., Detroit.
•
\
■
cipal and interest (M-N)
s
s
t
•
tional
payable at the Chase Na¬
km final disposition oi the prob¬
Hildreth, Neb. 7
Bank, New York. Legality
Bonds Sold-^-A $16,000 issue of lem presented by the present sit¬
The
bonds will be the
general conditional and accompanied by to be approved !,.by Charles &
' 7■
■.:' ■
.7
7 .;; ...' ;
3Vz% refunding bonds is .said td uation
obligation of the school district, a certified check for $300, pay¬ Trauernicht of St/' Louis* Mo.-" : have been
Rear-Admiral Harold G. Bowen
sold; ' Denom. $1,000;
which is authorized and required able to the Town Treasurer.
is now director of the shipyards
Prentiss
County Fourth Supervi- Dated Aug. 15, 1941. Due $1,000
by law to levy upon all taxable
under
a
presidential
executive
7/7 Luverne, Minn.
;/ sors District, Road District (P. \ from Aug. 15 1942 to 1957; op¬
/property therein such ad valorem
order.
tional
in
1946.
Prin.' and ;
,
O. Booneville), Miss.
Bonds Sold—A $85,000 issue of
intj
taxes as may be necessary to pay
payable
at
the
County
Nutley, N. J.
'
1'
Bond Sale Details—The Chan¬ (F-A)
2%% semi-ann. refunding bonds
the bonds and interest
thereon,
Treasurer's office.
without limitation as to rate or is said to have been purchased cery Clerk states that the $13,Bonds Authorized—It is stated
amount.
A
certified
check
for by Kalman & Co. of St. Paul, at 500 4V2% coupon refunding bonds
V.
Simon
Kearney, Neb. ' •
7.>-,( by
Blum,
Town
Clerk,
100.50. Dated March 1 1941.
sold to O. B. Walton & Co. of
that an ordinance calling for the
/2% of the bonds, payable to order
Bond Exchange Details — It is
Jackson
v.
153 p. 1023 — are
of the district, is required. Bids
issuance of
$22,596 park bonds
7/7 Madelia, Minn.
dated June 2, 1941, and mature reported that the $43,000 refund¬ has been
-shall
be
conditioned upon
the
passed.
7
Bond Sale—The $10,000 semifrom July 1 1942 to 1947 incl, De¬ ing bonds contracted for by the
unqualified
opinion
of
Miller, ann. land
Wachob-Bender Corp. of Omaha,
purchase and hospital nom.
'7"77:
Pitman, N. J.
$1,000, one bond for $500.
Canfield, Paddock & Stone of
to exchange with the holders of
equipment bonds offered for sale Interest
payable J-J. ; /.J;Bonds to be Authorized
We
Detroit, approving
the
legality on
V7
7:
the original bonds—v. 153 p. 1307
V'"/-."V
v' " '..-'jV. .''7 77 7//-• 7rt J
Sept. 2—v. 153 p. 1306—were
of the bonds.
Cost of such opinunderstand that an ordinance has
—are 114s, are dated
awarded to J. M. Dain & Co. of
July 1- 1941;
:
MISSOURI
■;
7 !
been passed on first reading by
.ion and of printing the bonds will
J
;;7.
' •;*
7.-.V and mature on July
1 as follows:
Minneapolis, as IV2S, paying a
the Borough Council calling for
be paid by the district.
Bucklin, Mo. '
•
*:
\i $8,000 in 1942 and
price of 100.30, a basis of about
1943, and $9,4
an issue of $13,000
not exceeding
Bond Sale Pending—We under^ 000 in 1944 to 1946.
;7i
7;
White Lake Township School Dis- 1.46%. Due on July 1 in 1944 to
3% general refunding bonds. The
stand
that
an
issue
of
$17,000
trict No. 7, Oakland County, 7. 1951,
Nebraska City, Neb.
measure
is to come up for final
electric revenue
bonds
may
be
r/.;
Mich.
Minnesota, State of
reading on Sept. 8.
77 •
sold locally.'
Pre-Election Sale
"
■ 7
•
>'
!
The City
t
Bond Offering—Philip Beaham,
Premature
Bond
Payments
Clerk states that $300,000 water
Ridgefield, N. J.
New Madrid County Consolidated
District
Secretary, • will
receive Ruled Out—The State Board of
and
gas
system revenue bond^
/„ School District No. 6 (P. O.
"sealed bids until 8 p.m. (EST) on Investment cannot be
i;
Bond. Sale^The $41,800 coupon
have been purchased by H. B. La
compelled
New Madrid), Mo.
or
7- ;/<•!
Sept. 8 for the purchase of $31,- to accept full payment of bonds
registered bonds offered Aug.
Rocca & Co. of Chicago, subject
000
not to ■ exceed
Bond Legality Approved
28—v. 153, p. 1024^were award¬
3%
interest before
An to an election scheduled
they aredue, 7 Attorney
for Sept;
ed to B. J. Van Ingen & Co., Inc.,
coupon refunding bonds of 1941, General J. A. A.
Burnquist held $8,900 issue of 4x/4% refunding
Dated Sept. 1 1941. / Denom. $1,- on
bonds is said to have been
New York, as 1.70s, at par plus
ap-t
Aug. 31.
000.. Due Sept.. Las.follows: $2,a
premium of $83.60, equal to
NEW JERSEY
Russell
L.
Frazee,
Renville proved as to legality by Charles
000 from .1942 to ,1953 incl.;. $3,& Trauernicht of St. Louis. Dated
100.20, a * basis of about 1.66%.
county attorney at Bird Island,
Bayonne, N. J,.
' /
000 in 1954, and $4,000 in 1955, advised
! Sale consisted of:
Feb. 1, 1941.
.
~
f
Burnquist that his coun¬
Hate or rates of interest to be ex-j
$28,500 , public / improvement
Uncollected
Tax
Totals
Re-!
ty obtained loans of state funds
MONTANA
duced
pressed in multiples of Va of 1%. aggregating
the
city's
uncollected bonds.' Due June 1 .as follows:
$262,000,
some
of
taxes on June 30 totaled
Principal and interest (M-S) pay-! which bear 5 per cent interest Big Horn
$2,246,-! $2,500 in 1942; $2,000 in 1943 and
Coun*y School District
aible at the Detroit Trust Co.; and others 4 per cent
842, representing 28% of the 1940 $3,000 from 1944 to 1951 incl. •;
No. 17-H (P. O. Hardin),MonK
per annum.
|
Detroit, or at its successor pay¬
street' improvement
After stating the county now
A year earlier the uncol¬ 713,300
Bonds Voided—It is now stated levy.
bonds, i Due June 717 as follows:
ing agent named by the district, is able to borrow the
lected
total
was
$3,429,032 re-j
money at by
the
District - Superintendent
which
shall
be, a
responsible 2 per cent he inquired whether that
$2,300 in 4943; $3,000 from 1944
the sale on May 5 of the! presenting 49.2% of the previous
bank or trust company
to 1946 incl. and $2,000 in 1947;.
in De¬ the state board of investment can
year's levy.
1.7 7 ' 7
$98,000 semi-ann. refunding bonds
troit.
Bonds. Nos. 23 to 31 incl. be forced to
7 All of the bonds bear date of
accept full payment to Atkinson-Jones & Co.' of Port4
Bergenfield, N. J. 7
\yill be callable in inverse num¬ so as to
j June. 1, 1941,7 Other; bids:
permit the county to ob-r land, as 2V4S, at
100.357,- Was not
erical order, at par and accrued
.7 " 7 7;
Bonds Authorized—We under¬ .Bidder
7
Rate Rate Bill
tain a lower interest rate by re¬ consummated
as
the
Schmidt.
Poole & Co....,.,
100.14Z
Attorney stand that the
interest, upon 30 days' published financing.
100.11
Borough Council H. B. Boland & Co..,..,.' "1.80';.
General ruled that these bonds
Ridgefield Nat'l Bank
; \1.90%
100.13
notice* on any one or more inter¬
recently passed an ordinance calL H. L. Allen & Co
were not
2Vo
100.13
redeemable, this clause
est payment dates on and after
Mound, Minn.
>
ing for an issue of $37,000 sewage First National Bank of
having been omitted i when the
.North
Bergen
2%% v
J00.3S
the following dates: Nos. 28 to 31
Maturity—It is stated by LeRoy
plant bonds.
<
■
I M., M. Freeman dr Co.,..
100.24
bonds were issued.
inc). on and after Sept. 1 1942; V. Alwin, Village Clerk, in con¬
Cliffside Park, New Jersey
Nos. 25 to 27 on and after Sept. 1 nection with the sale of $3,000 Fallon County School District No.
j
NEW /MEXICO •
the Detroit Trust
at
All bids must be
un¬
.
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,
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—
•
-•
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,
•
.
.
—
,,
■
—
.
j
—
.
.
..
,
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•
.
...
.
No
12 (P. O. Baker), Mont. .-:.
1943, and Nos. 23 and 24 on and semi-ann. water' system extension
»
Sept. 1 1944. Principal and certificates to the State at par,
Bond Sale Details—We are noW
as
4s—v. 153 p. >1306—that
interest
(M-S)
payable
at the
they informed that the $15,000 refund-^
Detroit Trust Co., Detroit, or at are dated Sent. 1 1941, and ma¬
ing7 bonds sold on June 9 'to
its successor paying agent named ture $200 from March 1 1943 to
Coughlin ? & Co. of Denver; *'as
by.the district, which shall be a 1957.
•/
' ' • -/ V . i 2%s—v. 152
p.
3852—are dated
L.
after
Public
Bond
Sale—Herbert
Tularosa, N.'Mex.
Post,
Collector of Taxes, re¬
that the $18,000 municipal
ports
Bonds
equipment bonds mentioned in—* 4%
153,
v.
ed
p.
bank V or'-trust
in Detroit/
pany
- com-1
/.>*
Pennock
•
The bonds will
«
be
.
general obligations of the district which' is authorized and/re*
quired
the
by
law
taxable-
to
levy
such ad valorem taxes
to
necessary
the
pay
all
upon
property
therein*
as
may
bonds
be
»•
to
the
public.
that
at
,h 7. 77/7 7*^777
,
.
on
recent? [election
a
Louis
and
were
$12,000
approved!
County (P. O. Duluth)
Minn,.
/
.
thereon, without
ition
to
as
certified
.rate
check
limita-
amount.
or
for
2%
of
A
the
'
Certificates
Sold—The
Auditor states that
;
conditioned
ified
American
upon
the unqual-
opinion
$500,000 certi¬
by the First &
National
Bank
luth, and associates.
Due
of
on
Du¬
Nov.
of Claude H. Ste¬
4, 1941.
of Berry & Stevens, of DeSt. Louis Park, Minn.
troit, approving the legality of
the bonds. District will pay for
Certificate Sale
The $4,800
legal opinion and successful bid- Semi-ann.- -water ; main
certifi¬
der is to pay cost of printing the
cates offered
for sale on Sept.
bonds.
•
2—v. 153 p. 1306—were award¬
vens,
-
,
■
—
ed to
MINNESOTA
the First National
Bank of
-C
Hopkins as 2V2s, at par, accord¬
Faribault
County
Independent ing to the Village Clerk. Dated
School District No. 53. (P. O, Sept. 1, 1941. Due
$800 on Sept.
^
1
Elmore), Minn. /'//7
^
/ Bond Election—We
that
election
an
has
issue
bonds.
!.
of
$58,000
,
iFarmington,
Prin.
the
arid!
ofq the
;r
Bond
Legality
understand that
Bond
Clerk
pon
on
Sale
000
3V2%, 3%%
that
Trea¬
77;; |
.
,
Police Pension Fund
—
The
City has
purchased
East
Interest
payable
Richland
No.
12
as
County
(P*
O. Route
the
Sale
an
sale
semi-
were
purchased
Board
of Land Commissioners,
the
No other bid
Support
Government
—<■
that the Federal govern-;
would
recognize
the
city'ii
need for financial
Neb.
-semi-ann.
warrants
as
support in pay-?
ment of municipal services should
the Navy take permanent possess/
-—
states that the
to
from 71947
$1,500
".
Int. Rate Rate
&
R.
-
White
D.
H.
&
Rollins
Roosevelt
&
Flatts
Bond
■
;
any
suitable
bank
or
trust
com¬
Dated
Oct.
1
1941.
Divided
as
the
Corp.
of
noted in our issue of
were purchased at par,
are
dated Jan, 1 1941, and ma¬
ture $1,000 from Jan. ,1 1942 to
Omaha,
Feb.
1,
Barber
1955;
of
Minneapolis;;; will
be > Oct. < 1 1953 to 1957. Prin. and int.
financial support from this insti¬
tution to your city in payment of
Wachob-Bender
designated by the success¬ follows: $50,000 -2%s, due on Oct.
ful
bidder.
The
printed
bonds 1, $4,000, 1942 to 1946, and $5,and approving opinion of Flet¬
000, 1947 to 1952; the remaining
cher, Dorsey,- Barker, Colman & $25,000.?as 2s, due $5,000 from
pany,
as
optional
on
July
L 1946.
-•
municipal
concern >'
:
"We
is
services
the
shall
i
in
mind
needs of Kearny as plans
100.422
2.20%
100 23
72.40%
Inc..
Fire
100.33
100.538
District, N. Y.
Election—The Fire Com¬
on
Sept. 2 voted to
special election on the
question of issuing $7,500 bonds
hold
a
for
the
per.
-7/
purchase of
Hartford
/
fire'
a
pum¬
/f7-■;77
'•'•'
;777:7v;../
/77/7/ 71/J-
Central
School
District
|;77(P.rO. Hartford), N* Yi. u
Bonds
Voted
—
Dwight'
that at
of
was
W;v
a
It
is
stated
t.aq
by
Beecher,;' Principal,
recent election
an
$94,000
construction
approved. ;;
;7/!;'/,^'7
i^sue
bonds
7 !,/../
!
Highland, Lumberland, Tusten and
Deer park*
'
trict
.
Central
No.
1
(P.
V'^777:'Y>
Bond
pon
or
Sale—The
registered
School
Q.
Di$*
-
Eldred), t/v
^
■
$241,825
building
cou¬
and
equipment bonds offered Sept. 4
—v.
153, p. 1307—were awarded
to .Roosevelt
& Weigold,
Inc., of
York, as 1.80s, at a price of
100.38, a basis of about 1.77%.
,'U'.rX Dated
Sept. \ 1
1941
and
due
of which
beneficiary, -
have
100.899
2.20%
missioners
.
.
>>
• '
2%
2.10%
Buffalo
Sons....
—
\
"
,
-
Co
&
Weigold,
German
Bid
.Traders
Co.,
Buffalo,
and
George
B.
Gibbons
Marine Trust Co. of
E.
to
Other bids:
Bidder
Co
Financial
Dated
and due Sept. 1 as
$1,000 from 1942 to 1946
and
and
1.87%.
1941
incl.
Secretary of the Navy Knox as-i
ment
1
follows:
1966
The
City - Clerk
$20,000 3%% semiaggregating
legality by Charles & Trauer¬ ann. refunding bonds exchanged ion of the Kearny plant of the
Federal Shipbuilding & Drydock
$4,740, offered for sale on. Sept. nicht, of St. Louis.
.77 with/the holders of the original
2—v. 153 p. "1160—were
-'77
purchased
bonds-r-v. ;-153 - p." 1307—are due Company.,7. ..v7' j,7.77.7
The
Greenville, Miss.
7 '7
-by the First National Bank of
Mayor had protested to
$2,000 from Feb. 1 1946 to 1955
:
Bonds Sold
Secretary Knox
and
President
Farmington, at par, according to
Mayor Milton incl.•
7.77/:.• "77v-;'7-'>7'!/';7:7 -- i
Roosevelt that naval operations
the Village Clerk. "
7'7'.%
''7-V,.'77 7';
Smith states that $30,000 semiv'7
X't-v" *
Butler County School District Noi of the
ann.
huge yards where a CIO
city bonds were purchased
r
Holly (P. O. Slayton), Minn.
86 (P. O. Bruno), Neb.
union- had
been
on
strike
for
recently by the First National
!
Bond
Offering — Sealed and Bank of
nineteen
days would
cost • the
Memphis, at a price of
Bond Election—We understand
oral bids will be received until
township about $110,000 annually
100.03, for $17,000 as 2Vas, and that an election has been called
8:30 p.m. on Sept. 18, by John
in taxes. Federal
property is tax
for Sept. 9, to submit to the voters
$13,000 as 2s.
E. Baxter, Jr., Town Clerk, for
; 7
7 7 •
-7
an
issue of $15,000 construction exempt. '
the purchase of $8,000 road im¬
Laurel, Miss.
Mr. Knox wrote in reply:
bonds.
7
provement bonds. Dated Sept. 1,
Bonds Publicly
Offered—Weil
"We have not determined just
1941. Denom. $1,000.
Cody, Neb.
•
Due $1,000 & Arnold of New Orleans, is of¬
how this problem will be hanj
June and Dec. 15, 1943 to 1946.
fering
for
general
investment
Bond Sale Details—-It is now died, but no matter what disposi¬
Bidder to name the rate of in¬
$75,000 2%% and 2% coupon re¬ reported that the $14,000 31/2% tion we make of it finally we
terest. Prin. aand int. payable at
semi-ann. refunding bonds sold to shall be aware of-the need
funding/bonds.
Denom.
of
$1,000.
//^Warrant Sale-—The various 4% ing bonds has been approved
Co., both of New York, joint¬
price of 100.33,
incl.
Of
offered
as 1.90s, at a
basis of about
voters
Federal
surance
Maturity
as
system and*
plant construc¬
Sept.
4—v.
sewer
153, p. 1307—were awarded to C.
Childs. & Co.;. and Sherwood
&
June- 17,
'
F.
ly,
Mayor Frederick T. Law declared
Sept. 2 that he had received from
re¬
NEBRASKA
Big Spring,
bonds
Matyus, Clerk of
Eduction, that no Sept.
on
Y.
coupoii
Lake!!; Huntington
disposal
Manufacturers
Assured
We
refund¬
as
From
,1
.
Sewer
a
held
Cochecton, N.
sewage
Trust
as
77
registered
District
or
jKearny, N. J.
State
was
77;77/77
Cancelled—It
doned.
according to the Dis¬
par,
'
of
on
by
*
'Bond Sale—The $35,000,
$65,000 construction
the project was aban¬
issue
bonds,
refunding bonds offered for
Aug. 30—v. 153 p. 1161—
ann.
of
was
J-
School
Brunswick),
scheduled, to submit to the
1, Sidney),
The $5,200
—
Board
election
District
Mont.
Bond
Township
7 Bond Election
stated by G. J.
J-J.
School
Brunswick
said
is
been
V;7;//7:NE*V;yor^777;7^:
tion
N-
and after July 1 1951.
on
an
District (P, O. New
2V4S at
par—v. 153 p. 870—are dated July
1 1941, and mature July 1
1956;
optional
Commission
issue of $9,500
4% road equipment bonds at par.
$7,000 cou4
Commissioners,
report4
ordinance
an
calling for
the
issuance
of
$37,000
sewer
bonds was passed by the
Borough
Council on final
reading Aug. 25,
Bonds
Sold
The
Borough
at
Aug. 5 to the State Board of
Land
that
—
—
the
Dumont, N. J.
; 7 7
Bonds Authorized—It is
ed
installation bonds sold
sewer
issue of $49,-
general
Details
states
7
Approved
an
7
ceived.
Baldwin, Miss.
,
County
Laurel, Mont,
.
7
1, 1947.
payable
in Baker;
trict Clerk.
7...
July
int.£r(J-J-)
office
surer
.
Minn.
ancbafter
on
2%s, at
MISSISSIPPI
called
construction
'
,
1948 incl.
understand
been
for Sept. 8 to submit to the voters
an
in 1943 to
1,« 1941, and mature $1,500
Julyi 1 in* 1942: to !1951;h op¬
.
County
ficates of indebtedness have been
bonds, payable to-order of the
purchased at 2%
district, is required. '? Bids shall
be
,
,
interest
*
July
tional
Voted -ttWe> understand
construction bonds
St.
(f,. Q.-
District
Pennock), Minn.
Bonds
~
q
School
bonds
revenue
,.,'/
.
issue of
purchased by Bosworth, 7 Chanute, ; Loughridgeq &
Co. of Denver. ? Dated Sept./115
194L< Due on Sept. 15 in 1942 to
1954 incl. •
•: fit x-J stdsiUL'
•
responsible
water
have
to
1307—will not be offer¬
Sold—A $15,000
New
the
t
the
develop
March 7L as/ follows:
1943;
$6,825
$7,000, "1944; to '1949
in
ihcl^
■
Volume 154
\
,
v
pects- of
incl.
1968
*
FINANCIAL
-
" v-V
Bidder
i
•
Ini.
'»•" ;'
/
.
baie
,
the; various
Kate
:
Bid
Securities
Corp.
and
Kean,
Taylor
&
Co.;,1.90% 100.819
E, H.
Rollms & Sons, Inc.;A.
C.
Allyn
&
Co.,' Inc.
•" *.
and
B.
J.,
Van
Ingen
&
Co.,
Inc.
1.90%
100.68
C-.
P.- Childs ■& - Co.,
First of V-~
•': *■ .■
Michigan Corp. and Sherwood
&
Co
;•
1.90%
100.60
Halsey, Stuart & Co., Inc....
1.90%
100.017
Marine Trust
Co.
of
Bu'falo
...;' v..
*
■and
R.
D,
White
&
Co.
2% - 101.135
'Co,,
Gcorgo ■ B.
Gibbons '&
and
Adams,
McEntee
Co.
of
Co.,
Inc.
Blair & Co.,
Inc.
&
Stevenson
and
"Estabrook
Bacon,
market
2%
100.67
100.51
,"r
M'neola, N.
the-,
Offering:
Y.
t
Sealed
—
term,
from
bids
McGee
"The
City
for
-
city
writes
follows:
as
action
favorable
market
securities,
last
year
,
of
ed
"
•
for
at
1941
tax
rate
-as
$8,000
1961
incl.
;
each.
;
Greenville,
"
$1,-
Oct.
Due
1
1943
understand
as
70,000.00 series B public improve¬
ment bonds. Denom. $1,<
000.
Due $7,000 on Oct.
;/;,/ ;;V1 from 1942 to 1951 incl.
election
an
future
near
of
$250,000 construction
the voters
to
issue
an
bonds.
"
High
Point
Housing
Authority
(P. O. High Point), N. C.:
Bond
Offering
be
Sealed
—
bids
received
by Joseph D!
Cox, Secretary, until 1 p.m. (EST)on
Sept. 17, for the purchase of'
$227,000 semi-ann. bonds. Dated.
;
■
15,000.00 series C public improve¬
ment
bonds.
Denom. $1.-
Oct. 1 1941, Due
on Apr:l 1 in 19424
Legal cpinicn of Reed,:
Hoyt, Washburn &c Clay of New
to
1981.
York.
M,;.4,• 4/
Due/ $3,000 on Oct.
1 from 1942 to 1946 incl.
000.
was
that
submit
will
incl.
1946
'7:
Contemplated—
to
*
to
C.
(1
We
Election
is to be called in the
bond
others
N.
■
Bond
$18,490.50
in
and ; $18,000
from
1942
,
One
bonds.
follows:
the 545,000.;
The
1
•
and
to
$490.50,
000
reduction of
$520,000,000 in
the year, against' this year's $530,-
with¬
in
valuations
incl.
1957
ment
'
•
.
a
Oct.
90,490.50 series A public improve¬
■" v
The plan means
1956
to
;
,
,
financial
pay-as-you-go'
program.
the city bond
Due
$9,000 from 1942
,
despite
market
Mr.
/
." Bond
action of
the. tremendous $790,000 in the tax levy for oper¬
volume of new issues which the
ating expenses, and a cut of $2.city was obliged to issue in the 193 per $1,000 "assessed valuation
1S43
calendar -year
incident .to in the tax rate by 1947.: It con¬
transit
unification. /, Concerning
templates stabilization of assess¬
and
Co.
30
favorable
■
2.10%
&
Co.
&
sinking
1941, the transit situ¬
ation, trend in city debt and the
100.829'
J:
•
Co
Peabody
Kidder,
2%
:
$1,000.
follows:
,
on the by
a-13-page memorandum sub¬
city obligations. Mr. mitted by City Manager Louis.B.
operations Cartwright) the City Council will
the city in the fiscal year end¬ move toward
adoption of a long-
ed June
V',
v
&
,
the' significance
for
market
/V-.v-Sr-i
;.
financial ;
' Rochester, N. Y.
.
of
Debt Refunding Features Pro¬
funds with posed Financial Program—Guided
37
McGee also deals with
.
& Traders Trust
municipal
CHRONICLE
their influence
respect to
Union
Manufacturers
the
structure' as.
$3,000 in 1969.- Other bids:
.
•
1950, to
from
$10,000
and
Number 3977
$31.18
Kinston Housing Authority (P. O.
Dwight standing the huge volume of new and the tax levy for city oper¬
Kinsion), N. C.
G. Hunt. Village Clerk, until il issues is proof of the soundness ations
151,475.31 delinquent tax bonds,
$10,946,000. It is proposed
Bond Offering — Sealed
а.m.: (DST)
bidson Sept.
10, for the of the price structure, but con¬ that the plan" be extended over
One
bond
for
$475.31.
will be received by G. Paul La,
others $1,000 each.
purchase of $61,000 f coupon or sidering the merit of City obli¬ the six-year
Due
period; from 1942 to
Roque,
Secretary,
until
1 p.m.
Oct.
1
as
follows: $31,registered
street
paving
bonds. gations,; they remain underpriced 1947. It proposes:*1
; .;;
Interest rate is not to exceed 6%, In general, other municipal bonds
475.3.1'; in, 142 -and $30,- ,(EST), on Sept., 17, for the pur^^
1; To refund the city's
(iebt, re¬
chase of $138,000 semi-anp. bonds,"
oi similar quality are selling at
payable '• M-S;
Dated • Sept.
1,
,;, 4,
000 from ,1943 to ,1946
ducing the taX' levy: required for
Dated Oct. 1 1941. Due on April
1941
Denom. $1,009.
Due > Sept. higher prices. Since many mun¬ debt service.
"■ ;
|
incl.
1 //". '
;
lv, as follows: $5,000 in. 1942 to icipal bonds are selling at higher : 2. That the tax reduction saved 89,021.46 delinquent county tax 1 in 1942 to 1961. Legal opinion
of Caldwell & Raymond of New'
1945, $6,000 in 1P46 and $7,000 prices than United States Govern¬ through the debt refunding shall
'
;
'
bonds.
One -bond
for
York.
in 1947 to 1951,
Rate of interest ment obligations, it is appropriate not be absorbed
by the- various \
•
$21.46, others $1,000 each.
to be in a multiple of % or one- to. compare
the prices <?,of City city departments* and, to assure
Due
Oct.
1
as
follows:
Murfreesboro, N. C. *•"
tenth of
1%, and must be the bonds with those of federal se¬ the fixed departmental budgets
$17,021.46
in -1942
and / Bonds Sold—A $7,500 issue
oij'
same for all of the: bonds.
Prin¬ curities.
For example, on August for the life of the
i
SIR 000 from 1943 to 1946
plan, v":
6% senii-ann. public improvement',
cipal and interest payable at the 20,. when United States Govern¬
3.- That the tax reduction re¬
incl.
v.
■•'.4 /. bonds has been purchased by the
First
National
Bank,
Mineola, ment 27/g's of March 15, 1960/55 sulting from the debt refunding
150,000 home relief bonds.
De-; Farmers Bank of Woodland, at
with New York exchange. Valid were quoted to yield 1.96 per cent shall
not
be eaten-;up by new
nom. $1,000.
Dated Dec. 15, 1940. 'Due
Due $15,002 par.
and legally binding general obli¬ to • the call date, City 3%'s due
debts incurred by the city over
on
Out. 1 from 1942 to $500 from Dec. 15, 1941 to. 199^'
gations of the Village, ail the tax¬ November 1, 1954, were yielding the life of the
"ir.'V
'
4..' '
plan.;->
;
incl.
./r/;/-/31951 incl. '
4
able real property within which 2.31 per cent to maturity.
v,
These
As given by
Mr. Cartwright
will be suject to the levy of ad City
i
All of the bonds will be dated New Bern Housing Authority (PS
bonds
provide
an
even city tax
rates over the period
Oct. _1 1941. ;; Bidder to name a
valorem taxes \to pay the bonds greater yield than taxable Gov¬
•''''■/""■ O. New Bern), N. C.
1041-47 yrould drop from the 1941
and
interest
t thereon/.
without ernment'bonds of similar dura¬ rate of $31.18 per $1,000 assess¬ sihgle raie of interest; expressed
Bond Offering
Sealed bid^
in a multiple of % or 1/10 of 1%.
limitation rs to rate-or amount. tion. (2 V2?s due March 15, 1958/ ed
will
valuation to
be
received until
1'
will
be
received
by
.
,
'
•
:
•
-
•
.
'
,
-
•
.
,
'
.
'•
.
;>'i
1'.
1
J
,
'
•
«
-.
.
t
,
„
$30.03 in 1947 if
selling to yield the provisions of- the long-term
per
cent on the same day. plan were carried out, except for
for the
purnose
of paying the In contrast to the status of these the five-year
plan of debt refund¬
cost of certain public street pay¬ Government 2V2's which are sub¬
ing. But/ with debt refunding, the
ing improvements, the period of ject to all federal income taxes rate would drop to. $28.99.
probable usefulness' of which is end ■ surtaxes
City., bonds
are
10 ; years: -- Provlsioni -has
been exempt from" all federal income
Salem,-'Ns L ;
Issued
made
the
to
pursuant
Law and
•
Village 56).- which
General Municipal Law
for
were
2.14
• necessary
down taxes and surtaxes, according to
Bonds. -Voted
At an election
required bv. Section prevailing statutes and past court on v Aug. 26 the voters authorized
б. of the General Municipal Law, decisions,,, establishing
the
ex¬ an issue of $6,000 bonds' for the
as
amended.. In the events that emption of municipal bonds upon
purpose
cf remodeling the old
constitutional
prior> to- the delivery of the
grounds.
Acme
Road
Machinery
Com¬
bonds ■: the
income - recei ved // by
* "All
New York'City corporate pany
building in that village for
private holders from bonds of the stock and serial bonds, are non- use;of the Gotham Tissue Cor¬
same type and 'character shall be
callable.
Hence a purchaser; of poration; at a
processing plant for
taxable by the terms of any Fed¬ these obligations can be sure of
naper. manufactured at the Goteral income, tax law, the success¬ having an investment which will
ham-j mill; at
Battfenkill.
The
ful bidder may", at his election, run to. maturity unless he. wishes Salem
plant is ^expected to em¬
be
relieved /of
sell .;the
his>,obligations to
obligations- before ploy about 40 persons and must
-
payment
'Vthe
as
^
,
Prin:
and
int.
Ci+v
^he
New
York
able
to
as
(A-O)
-
under
the
bonds
the
to
contract
in
and
such
purchase then.
t^e
c*se
deposit accomh^nying his bid will
be returned. The approving opinof
&
Moore
investor
is
buying maintain a payroll of $700 a week
for tax exemption,, the noncall- under an
agreement with the vil¬
able feature
of the bonds
is a
lage board.
; ^
distinct
advantage.' Of course
not
all
investors are concerned Saratoga County (P. O. Saratoga).
an
..
at
with
otherwise.
The
bonds
are
un¬
limited tax
obligations of the city
and the approving legal opinion
pf Thomson, Wood-& Hoffman
of New York City will be fur¬
nished
the
Bonds
successful
will
be
purchaser
delivered, to
Oct.; 1, /or
thereafter
be
as
-
odd
denoms.
can
bonds
shall
be; type¬
written and if so Requested by the
successful bidder, a will beupurchased by the city for its sinking
funds;
but
at
no;
greater
than that offered by the
?nl
bidder.
A
$14,819.75,
price
success-
certifed cheek
payable
New
fo1*
order
to
of
the
City Comptroller, is required.
(The
prelimi^arv
announce¬
:
ty reform bills after
The
4.
a
hearing
V'.V Vvv: r1;; N.
on
if approved
referendum on
bills,
by the voters at a
Election Day. would abolish next
Dec." 31 the five sheriffs and four
Bond
will
be
District
(EST)
Offering
^
Bond
—-
Sealed
bids
received by Amber Peck,
Clerk, until 3.30'
Sept.,; 9, for the
on
chase/of .$20,000,
couoon
or
p.m.
pur¬
re¬
registers
in- New
York
City,
gistered
school
; building
bonds;
transferring most of the - duties
Interest rate is not to exceed 6%,
of the sheriffs- to a single city
payable (M-S).
Dated Sept. 15,
sheriff, to be elected, and the
1941. Denom $1,000.
Due $2,000
duties of the registers to the var-.
Sept. 15/ 1942 to 1951. Rate of in¬
ious
county
clerks.
Richmond
terest to be in a mulitple of xk
has no register:::
;
r r
:
or one-tenth of 1%, and must be
Abolition of these offices and
the same for,, all of the bonds.
of the offices of Commissioner of
.
Prin.
and
int.
&
Sale—The
Traders
awerded
was
sue
Trust
of
100.292,
as
Buffalo
5
is¬
in¬
an
of
certificates
2.40s, at a price of
basis
a
of
Sept.
on
$5,990
debtedness
Manufacturers
Co.
of
about
in New
York
and
.
annually
between
$250,000
ucation
and
Law of the State for the
purpose of erecting a new. school
$500,000, £; or £ more, f depending
bus garage- fn > the j, district, and
largely on; how many employees
the district is authorized and re¬
are dropped after the county of¬
quired by. law to. levy on'all 'tax¬
fices have been abolished. "
able property of the district such
> Says
City ,BoncJs Are Under- ad yalorem taxes as may be ne¬
priced—»-In ah authoritative, review cessary to pay the bonds and the
of the .city's finances,' prepared interest thereon without ^limita¬
,
.
Sept. 3—v.
on
awarded
Co.
of
to
1.08%:-
$49,000
M^roh
made
by C.: E, Weinig,' -White
Buffalo.
&
Higher
Tax
R«t«,
basis of about
/
:
-
1942 to
in
H,
1942 to
County
Due
*
Bond
:<
Sale
Gb.'. ."..
Geo.
JB.
Gibbons
&
Co...
Kidder. Pfabody <fe Co.,'...'
Mfrs. ,& Traders Tr. Co....
Dick
&
Marine
Merle-Smith
Trust
Trust
F..--, H,
Rollins
Sherwood
&
&
7I.340;0
74,059.00
1.20
74,051.98
1.20
l."5
74,022.20
74.128.52
Bk.
1.25
74.O97.0O
........
1.25
74.067.00
Co/1
978
means a 1942 city tax rate of
$29.22 per $1,000 of assessed valu¬
ation^..based on an estimated total
valuation :: of
$346,000,000,
pared ..with' the
$28.90;- and
of
vet
$29.10;.
items
a
1941
tax
five-year
com-
rate
of
average
Increases in' 1942 budare
due
almost
entire¬
WORTH
Durham
■;;4;;
Bond
no-»
CAROLINA
/
County (PS O. Durham),
/
V,'; N. G.
Sale—The
semi-ann.
building
ovia
bonds
$101,000
school and
offered
cou-
count1/
for
sale
;
,
securities should 'find the article
extermely
interesting
and;; in-?
of New .York, that the bonds are
Bank
and
(EST):
on
binding
obligations; of
chase I of
Sept. 11 for the
$740,987.27 not to
pur¬
ex¬
the remaining $761)00 as l%s, due
on
coti^;
off-i'
Sept. 2—v. 153 pi'
on
&
Trust
Co.
of
Win¬
Spencer, AV C.
Bond
Call—It
is stated by C/
Huffine, Town Clerk, that the
following bonds are called
for
payment at par and accrued in--
P.
on
Oct. 1: $3,000 6% pub¬
improvement, Nos. 1 to 3; $3,000 6% street improvement, Nos.
1 to 3; $3,000 51/2% street, water,
and sewer, Nos. 1 to 3; $3,000 5%
terest
lic
general
Dated
1955.
municipal, Nos. 1 to 3.
April 1, 1935. Due April 1
Payable at the Chase Na-'
tional
New York City, on
and
surrender
of
bonds-with
said
unmatured-
.all
attached. Interest ceases*
coupons
called.
uate
;
.
.
NORTH DAKOTA
;
Lidgerwood, Ni Dak.
A
Paid—The
Price
that
states
tection
tne
and
City
Auditor1
$10,0Uu fire pro-r
supply bonds/
water
sold to the Allison-Williams Co. 6f
Minneapolis-—v. 153 p. 1163—were
purchased as 2!/>s, at a price of
100.51, a basis of about 2.44%/;
Due from July 15, 1942 to 1960.;JWilliams
County (P. O. Williston),i
N. Dak.
Bond Sale Details
ty Auditor
GOO
states
refunding
State
Board
—
The
that-the
Coun-^
$300,4;
bonds sold to theUniversity and"
of
School
Lands, as 23As—v. 153 p.;
1308—^were purchased at par and .
mature
500
500
500
500
Sept.
1, as follows:
$13,000 in 1945,
in
$14,000 in 1947,
in
$15,000 in 1949,
in
$16,000 in 1951,
in
$17,000 in 1953,
in
$1-8.0004n 1955,
in
$19,000 in 1957,
ih' 1958/ and $20,C00 in
500 in
1944,
1946,
1948,
1950,
1952,
1954,
1956,
March'1, $5,000 in 1949 to 1951, 5no
formative.
.Although?, relatively; the district. >; Enclose a certified ceeds '4% interest bonds,' " divided $7,000. 1952, $11,000,3 19r'3/'$12.^ 500
l 000,' 1954 t(f T95S, and''$7,000 jiii 500
brief, it nevertheless discusses iin check fori $400; payable 9 to"'1 the' as follows:vli-■.
some
detail such important as¬ Board of Education.
to 1961.
$175,000.00 school bonds. Denom. 1957.
valid
<
bonds
ston-Salem, paying a prfemiumt of
$26, equal to 100.056, a netv in¬
terest cost of about 1.67%, on thd
bonds divided as follows: $21,000
as
iy2s, due on Aug. 1 $2,000 in
1944 to 1951, and $5,000 in 1952;
the remaining $25,000 as l%s, due
on Aug.
1, $2,000 in 1953, $3,000,'
1954, and $5,000 in 1955 to 1958./I
44;444,;/
Sept; 5 issue of the Sav-. tion
Bank
Yorl^
71.123 58
1.25
Sav.
<te
tq
HoytJ-
New
$46,000
school
74,154.Ro
Sons..-..
Co.
Harris
1.20
1.20
1942
1308—were awarded to the Wach¬
Bid
1 ?0
*
The7
—
semi-ann.
;
PHce
1
Reed,
County (P. O. Salisbury)1,
ered for sale
reports
Bate
Int.
April
4;; :'■' 4 N' C'
other bids:
&
All^n
L.
on
on
Sent. 2—v. 153 p. 1308—were
ly' to labor- costs for workers in
as
to rate or, amount.
The
the low income brackets, accord¬ awarded to t>e Equitable PecurJournal,
Cushman period of. probable usefulness of
ities Corp. of Nashville, naymv a
ing to Mayor Rolland B. Marvin.
McGee
of ,R.
nremium of JM3.50, equal to 100.W. Pressprich & the object or purpose for which
Co., New York, stated that "con¬ the bonds are to be issued is 30 r-J-Utica, N. Y. ' "
013, a net interest cost of about
Bond Offering---Thomas J. Nel¬ 1.473%, on the bonds div;ded as
sidering the merit of city securi¬ years. The successful bidder will
ties, they remain underpriced." be furnished with the opinion of son, City Comptroller, will re¬ follows: $25,000 as 1 Ws, due P5.Dealers and investors in the city's Reed, .Hoyt,
Washburn & ' Clay ceive. sealed bids until 11 a.m. 000 from March 1 1944 to 1948:
ings
Rowan
on
1954 incl.
>■■■.
/
on
1954 incl.
from
Bank,
presentation
.
Treasurer
following
Bidders
In&*eoted—
in
1
The
the
The budget-for 1942 as submitted
to the common Council calls for
a
-
$25,000 highway bonds. Due
:
Syracuse, M. Y.
;
,
1307—were
Struthers. &
as 1.10s, at a
bridge bonds.
Morch }
of
York,
-
Due serially, to -1946 incl. Second
high bid of 100.033 for 2.40s was
Co.
153 p.
Wood,
New
price of 100.1108,
2.29%.
payable in" law¬
Kings
ful money at the; National City
a
tax levy of $10,115,514,
Counties, as provided in a se¬
com¬
Bank, New "York. A Authorized to pared -with, this
year's levy of
parate bill ^signed by the Mayor
be issued pursuant' to othe Ed¬
$9 986 535/ The. increase of $128.
on
Sept. 2, may save, the city
Records
for the
Due
1961. Legal opinion of
Washburn & Clay of
■
.
Sept.
1941.
pon
soon
effectedThe
of
the
delivery
as
p.rriY
(EST) on Sept. 17, by Wade Mea-f
dows, Secretary, for the purchase
of $196,000 bonds. Dated Oct. f.
bidder.
;
ment
of the
offering gave the
N. ' Y.'
York, will be furnished with tax exemotion. To them the
total amount of bonds at $745,to
the
purchaser without cost. considerable, dwersity of matur¬
Bond Authorization Pending —
987.27.) ;
Enclose a certified check for $1,- ity of City obligations affords a We understand
that
resolutions
wide choice
to suit their port¬ calling for an
220, payable to the Village.
■
issue of $80,000 Warren
County (P. O. Glens Falls)
folio needs."
y;'/ bridge bonds are to come up for
New York City
4/^4/-:;//;'/; Av Y.
consideration at a meeting of the
Phelps!, Seneca, Junius, Ly>n«. and
Bond
Board of Supervisors on Sept. 8.
S»le.— The
Mayor. Signs
County
Reform
following
'Arcadia, C-n*ral School D'scoupon
s^mi-ann. bonds aggre¬
Bills—Mayor La Guardia signed
strict No. 1 (P. O. JPhelps),:
t
;
Saugerties, N. Y.
gating $74,000, offered for sale
the Democratic—sponsored coun¬
of
'■
Vandewater
Dillon,
If
office
exchange.
Registerprin. and int. and not
.
-
payable
Treasurer's
.
■
$12,'-*
$13,^
$14,-';
$15,$16,-'
$17,-t
$18;^.
$19,-
1959'
■'//; /;;■.
.
CHRONICLE
FINANCIAL
38
School,
Rural
Jackson
Dak.
Williston, N.
''
that
Ohio
Election—We understand
Bond
has
election
an
been
for Sept. 18, to submit to
ers
an issue of
$25,000
Addison
Iron Bank, of
purchased an issue
of $2,279.83 second series refund¬
ing notes as 4s, at par.
Due in
two
years.
Optional after Nov.
Jackson, has
OHIO
30 1941.
School
Rural
District, !'•'"" Jeffersonville School District,
Ohio
Sale
Note
Ohio
Ohio
The
—
District, year. Public schools receive their
■allocations directly from the state
Sale—The
Note
called
the vot¬
airport
bonds.
,
i:
Valley
'
First- National
Sale—-The
Note
Bank Co. of Gallipolis purchased
Saturday, September 6, 1941
V.
ity. to issue them, it
h:
;;V:":
pointed
^■
The opinion was given to Loof Ohio.
, ■■
--J-.I
Of the $600,boo distributed to rain-co officials who sought ap¬
the
county
municipalities - and proval of a plan to borrow $12,000 under the Barrett bill.
other
cohnty
governmental
William M. Walsh, administra¬
agencies, the codnty government
tive assistant of the SMA in the
itself will receive $233,000. Coun¬
Cleveland / district, said he had
ty
Commissioner
Brumbaugh
and
expected
soon
an
claims this figure should be near asked
$381,000 but that the new state opinion from regional SMA (Of¬
fices, on what effect the wording
law, limiting sales tax distribu¬
,
out.
•
interest
was
.
the
Prin.
and
be
(These
all
School.
town
School DisWooster), Ohio
Green Township Rural
O.
(P.
trict
v
y; Bond Offering
Trust
Menno Kauf¬
—
Sale
Note
ed
notes
school
tax
valorem
Dated April
bonds.
1
tional
bids
received
-Sfa.
bond
building
1940. De-
Due $1,000 annually
on Oct. 1 from 1945 to 1964 incl.
Interest A-O.
A certified check
for 5%
of the bid, payable to
order of the Board of Education,
I!"j :-l
1
attorneys.)
will
Offering
be
j
I
Ohio
Note Sale—The Citizens Nation -
:
.'
'
•
;
-
Sealed
—
received
by
,
bids
Jerome
H.
for
the purchase of $3,660.16 re¬
funding second series notes. In¬
terest
rate
payable
is
to
not
annually.
years.
exceed
Due
.■
Stryker
4%,
in two
::v'i ■
\
Village School District,
Ohio
Note
Offering
—
A. G. Goll,
Clerk of the Board of Education,
will receive sealed bids until 8:30
Sept. 15 for the purchase/
$3,731.19 not to exceed 4% in--
p.m. on
of
terest
second
series
refunding'
Sept. 15 1941 and
due Sept. 15 1943. Optional after»
Nov. 30.
A certified check for
notes.
1%
Dated
of
the
notes,
payable to
der of the Board
required.
of
-V:
v
or-
,
Education, is
..
bid¬
Toledo, Ohio
New Revenue Plan Suggested—
Special School District
Harassed for the last
y.J. (P. O. Athalia), Ohio
1, 1940.
was
Gels, Clerk of the Board of Ed¬
ucation, until 9 p.m. on Sept. 25/
'
Rome Rural
were
,
seven
years
by deficiencies in income, city of¬
ficials have
made
the
tantalizing
discovery of
a path to
money—$731,729 of it
alone—but
it
has
its
This
the
of
for
easy
easy
1942
money
Court
in
10-mill
a
of
trove
was
made
tax
ac-
,
city
through a
Supreme
involving the
Ohio
the
state's
its
some
drawbacks.
to
decision
and
all
apparently
cessible
v-
like
treasure
funds
.
Hannibal Rural School District,
i
successful
der.
.
■
„
Nov. 30.
after
the
18
Henry Village School District
(P. O. St. Henry), Ohio
Note
tion, is required. Bonds will be
subject to
the
approving
opinion of Thomas M. Miller of
Columbus, cost of which is to be
by
Aug.
amended
and has
of the above-men¬
approval
tioned
sold
assumed
successful
ing the issue. The ordinance
the
Due Oct. 1, 1950, and re¬
Note Sale—The First National
deemable April 1, 1941.
Mahoning Count (P. O. YoungBank of Ironton was awarded on
a) 64,000 Sandusky Bay Bridge
.town), Ohio /Vy,;y
Aug. 29 an issue of $4,239.84 sec¬
2%
bonds.
Dated Feb. 1, 1940.
i Bond Issuance Approved — We
ond; series
refunding notes as
Due Oct.
1, 1948, -and redeem¬
IV2S.
Due in two years.
understand that the State Board
Option¬
able Oct. 1, 1940.
al after Nov. 30.
of Tax Appeals has approved the
b)
15,000
Pomeroy-Mason
application of the County Com¬ Bridge 3lh% bonds. Dated Oct. Ross
Tawnship School District (P.
missioners to issue $411,000 re¬
O. Jamestown), Ohio
1, 1936. Due Oct. 1, 1956, and re¬
v
:
funding bonds, to meet the Oct. deemable
April 1, 1937. Note Sale—The Miami Deposit
y
:
maturities of general and special
| a-These bon$s will be payable Bank of Yellow Springs pur¬
assessment bonds.
S
together with a premium of 2% chased
an
issue
of
$1,680.53
Maple Heights School District (P. on or after Oct. 1, 1941, on sur¬ second series refunding notes as
render of said bonds in negotir 3^2s.r- Due > in / 1943.1
CY1 Bedford), Ohio
Optional
Pom. $1,000.
required.
sion, announces that the follow¬
ing
bridge
revenue
refunding
an
1.87s.
as
Commis¬
the
was award¬ bonds are called for payment.on
issue of $6,- Oct. l, 1941.:
series
refunding
a) $76,000 Steubenville-Weirton
Due in 1943. Op¬ Bridge 1-%% bonds. Dated Sept.
Sept., 2
second
781.46
receive sealed bids
Until noon on Sept. 26 for the
purchase of
$20,000 3V2%
ad
ucation, will
The First-Central
—
of
of Akron
Co.
on
man, Clerk of the Board of Ed¬
is
Bond Call—Ray Palmer, Secre¬
District, tary-Treasurer
School
Ohio
-
the notes for which
are
subsequently
.
*
Center
the
returned unopened because of an
error
in the ordinance authoriz¬
■
Liberty
(A-O)
bidder.
'
Due in two years.
Optional after Nov. 30.
int.
furnished
f
at par.
Section:
Code" of
ing legal opinion of Squire, Sanders &
Dempsey of Cleveland,
will
'
1.19s,
with
General
payable at the City Treasurer's
office. Printed notes and approv¬
of the bill would have on oper¬
Bank of Washington, C. H., pur¬ tion
to
$12,000,000 to counties,
ation of the plan and issuance
on July 21 an issue of $3,prohibits
Montgomery; County
notes as 810.34
of bonds or notes. :
second
series
refunding from
;
:
receiving more than $233,4s.
Due in 1843.
Callable after notes as 1.65s. Due in two years.
h Several counties, including Ma¬
000.
/V V"::;
Nov. 30.
\
y'.'.'
honing, already have borrowed
Optional after Nov. 30.
; ; V
■! County
Commissioner ^Brum¬
money under the bill which be¬
JBedver Rural School District (P.
Vr
Kent, Ohio >y,
.y:Y;y': baugh pointed out that in 1937, came effective several weeks
ago,
O. East Liverpool), Ohio
"y
the; old
law
allocating Walsh
Bonds Authorized—We under¬ under
said.
These counties pro¬
■_* Note Sale—The Ohio National
stand xhat a resolution was re¬ 40% to the governmental agencies ceeded in
anticipation of the law
Bank of Columbus was awarded
cently passed by the City Council and 60% to the public schools, becoming effective and on the as¬
on
Aug. 8 an issue cf $8,681.73 calling for an issue of $150,000 this
county
received 1 $281,000.
sumption it was accurately drawn,
second series refunding notes as
''And that was considered a lean
sanitary trunk sewer bonds.;
t Walsh
said
the
Lorain-co's
1.20s. Due in two years. Option¬
year," he said.
'
procedure with the plan would
J
Lebanon School District, Ohio
al after Nov. 30.
■;..
;•/ '•
be delayed pending the opinion
New Boston, Ohio
Note Sale—The Ohio National
from regional SMA officials or
Cleveland, Ohio
Bank of Columbus purchased an
[ Bonds Sold — Stranahan, Har¬ the agency at Washington.
: <
Bond Election — City Council issue of
$10,396.64 second series ris & Co., Inc. of Toledo were
has authorized the submission at
refunding notes as 1.20s, at par. awarded on Aug. 19 an issue of Reynoldsburg Rural School Disthe Sept. 30 primary election of Due in two years. Optional after
trict, Ohio
$60,000 street improvement bonds ;
a $4,GOO,000 bond issue for the re¬
Nov. 30.
Bond Offering—V. D. McCall,
as
2j/4S, at par plus a premium
pair and reconstruction of bridges.
Madison
Township Rural School bf $504, equal to 100.84, a basis Clerk of the Board of Education,
A 65 per cent, majority vote is
receive
of about 2.10%.
Dated Sept. 1, will
sealed
bids
until
District (P. O. Trenton), Ohio
required for approval.
1941 and due on Nov. 1 as fol¬ noon on Sept. 17 for the purchase
Bonds Defeated—At an election
Gctlion City School District, Ohio
lows: $7,000 from 1943 to 1950 of
$20,000 .3%
school building
on Aug.
19 the voters refused to
bonds.
Dated Sept. 1 1941. De¬
v Note
\
Sale—The First Central authorize the issuance of the fol¬ incl. and $4,000 in 1951.
nom.
$1,000.
Due
Trust Co. of Akron was awarded
serially. •; A
lowing bonds: $53,000 West Mid- Ohio State
Bridge Commission (P. certified check for $500, payable
on Aug. 5 an issue of $10,178.30
dleton School and $32,000 PoastO. Columbus), Ohio
to order of the Board of Educa¬
second series refunding, notes as
second
of
Ohio,
„
$1,827.27 chased
4 an issue of
series refunding
Aug,
on
complying
2293-28
^
-
case
limitation law
tax
relation
Hudson. O.,
according to the Toledo Blade
able
of Sept. 2.
form, accompanied by: all after Nov. 30.
f
Bonds Sold
The $16,300 re¬
As interpreted by the City Law"
April 1, 1942 and subsequent cou¬
funding bonds offered July 7—
Scioto Township Rural. School Dis¬
pons, at the Chemical1 Bank
&
Department, the Hudson case de¬
v.
152, p. 4162-^were awarded to
trict (P. O. Waverly), Ohio
Trust Co., New York, or at the
cision means the barriers placed
the Ohio Life Insurance Co. of
Note Offering — Sealed bids by the state against the issuance
Cincinnati, as 3%s, at par. Dated j State Treasurer's office, Columbus.
Coupons maturing Oct. 1, will be received by John Artis, of bonds by any political sub¬
May 1 1941 and due as follows:
1941
and prior thereto will be Clerk of the Board of Education, division in the state beyond the
$1,300 May 1 and $1,000 Nov. 1
until 8 p.m. on Sept. 8, for the 10-mill limit without approval of
paid upon presentation.
>
1942, and $1,000 May 1 and Nov.
refunding the voters does
not
b-These bonds will be payable purchase of $2,464.45
apply to
1 from 1943 to 1949 incl.
to
r
purchased
of $3,697.27
al Bank of Woodsfield
on
Aug.
Is..
6
Due
in
refunding notes as
two
Optional
years.
30.
Nov.
after
issue
an
series
second
_
Harrison
1
,
•
School District
Kirkersville), Ohio
Village
O.
(P.
^
.
—
,
Offering — Roy S. Eagle,
Clerk of the Beard of Education,
will "receive
sealed
bids
until
Bond
yVy.y.
Monroe
22 for the pur¬
&3Q p.m. on Sept.
•
County (P. O. Woodsfield), Ohio
chase of $32,000 6% school build¬
Other Bids—The $30,000 poor
bonds. yDated July /I 1941. relief bonds awarded Aug. 11 to
Denom.
$890. \Due $890 semi¬ Stranahan, Harris & Co., Inc.,
annually on Mayyl apa Nov, 1 Toledo, as IV4S at par plus a pre¬
from 1942 tW
l/61 mtfl. A certi¬ mium of $11, equal to 100.03, a
fied check for $500, payable to basis of about
1.24%, as reported
order of the Board of Education, in V.
153, p. 1026, were also bid
is required.
for as follows:
*•
>"•
ing
County
Hocking
(P.
O.
[y-yy Ohio
y.//'':' h
Bond Sale Details—The
poor
relief
the
bondS
Board
Trustees—v,
of
153,
Logan),
$15,000
purchased
by
Fund
Sinking
1309, were
sold as 3s, at par.
Dated March
15 1941 and due serially on Sept.
Interest M-S.
Bonds
School
To
Be
—
Ohio
Beulah
Clerk of the Board of
Education, reports that the $339y
009 buildmg bonds authorized at
the
November,
1940,
general
election will be sold early in No¬
Lindsay,
vember.
They will be dated Dec,
15, 1941 and mature semi-annual¬
ly on June 15 and Dec. 15 from
1943 from to
Jackson
1966 incl.
School
District
(P.
0»
Jackson), Ohio
Bond
Issuance
Co....
,
Sav.
National
&
Irving
&
National
Woodsfield
First
Co...
V/2%
lVz'/o
Tr.
-1
Co.
1,
tfA
Bank
Montgomery County (P. O.
ton), Ohio
Day-
Reports Increase I11
Revenue
—
revenue
in
Questions
thus
far
period
in
of
more
1941
a
year
than
over
ago,
to
County Treasurer
Myers. To date, the
$500,000
the
according
Chester
sum
230,213 has been paid in
sales
tax
comoared
same
with
548
of
as
A.
$2,state
Brumbaugh
Contemplated— der
(State
of)
Validity
Issue
Law
—
points
out
.
.
Of
Recent
Validity
of
that
un¬
law
will
or
on
'
food
stamp
plan
was
questioned recently by a Cleve¬
land
law
firm.
,
asserted
known
which
Sanders &
Dempsey,
on financial legislation,
the
Barrett
bill, also
legislature
error
bill
senate
as
No.
182
passed
was
last
in
by the state
May 8, contains
the
of
name
the
issue
fore
notes
is
The
und^r
the
bill
there¬
"doubtful."
bill
names
the
Federal
ministration,
-The
FSCC
stamps but
the
10-mill
placed on all
bonds since the law
outstanding
took effect.
According to Rudy Klein, city
auditor, using the Hudson case
interpretation of the law locally
would
that
mean
a
total of
-
$731,-
subject to 729 in additional real estate tax '
before revenues would be paid the city
:
■'
any interest in 1942.
/.*';'yafter Oct. 1, 1946, in
This would mean an increase
par
on
•
■.
in
1942
the
tax
and
rate
of
similar
a
1.67
mills
in
increase
in
.
over a com¬
subsequent ^ears until bond .re- maturity shall be appor¬ tirement wiped out the increase.^
tioned by lot among the remain¬
City officials are frank to admiting maturities.
Bids to be ac¬ they would like to see the addi¬
companied by a certified check tional tax revenues in order, to-
>
plete
:y.;,
$700.
Springfield, Ohio
•
•„
Notes Authorized
stand
that
an
—
We under¬
place city finances on a sounder
basis than now exists, ijhey point
out, however, that the Hudson
Act
would
not
answer
demands
ordinance
,y
calling for additional operating income
for an issue of $115,000 not ex¬ and
this cannot be considered a
ceeding 2Vz % notes to care for cure-all.
.
bond maturities and interest, was
recently passed by City Council.
Since 1931, the city government
has existed by deficit
financing
which consisted principally of refunding bonds due for liquidation
Note Offering—J. A. Cartledge, and of
selling new bond issues
C'+v. Auditor, will receive sealed to fund relief deficits.
bids until 2 p.m.' (EST) on Sept.
Yrentoi} Village School District,
22 for the
purchase of $70,000
Ohio
not to exceed 6 % interest street
..
Steubenville, Ohio
i
Marketing. Ad¬ repair notes.
the "law firm'.said.
originally - sold the
longer has author-
no
r
Toledo'sr
of bonds to be called
for
Squire,
authority
since
on
limitation has been
A-O.
and
municipalises to bor¬
money
for - financing the
debt
be
redemption at
maturities
date
Interest
ties
issued
from the Surplus
Clyde E. Mayhew,
bonds
or
their
*
profound effect
a
bonded
ity, provided that any remainder
bonds
Clerk,
Public Schools, that * the in the distribution of this, tax
is/contemplating an issue during this year as it did dur¬
of $125,000 building bonds, sub+ ing the "lean" year of 1937.
AH
ject to approval: ati the Novem¬ taxing subdivisions will receive'
ber election.
$600,000 in this distribution this
incl.
under'a
and
Board
It is stated by
cise
Ohio bill empowering coun¬
Surplus Commodities Corp. as the
agency - handling
the : stampSv
whereas they are now purchased
new
1955
date.
This interpretation would exer-
Offering—E. P. Rudolph,
Director of Finance, will receive
to
1, 1934 or
refunding of issues sold before
that
Ohio
new
an
Montgomery
County will not receive as much
a
Heights,
Bond
call
.
$1,653,boost of vagency from which food stamps
are purchased, and that power to
during 1940, or a
$576,664.
Despite the revenue increase,
County
Commissioner
John
Shaker
bonds sold before Jan.
to
an¬
the inverse order of their matur¬
Dayton and Montgomery County
has increased
4%, payable
Due in 2 years.
nually.
These
Ohio
row
Sales Tax
Sales tax
Interest rate
is not to exceed
1946
Oct..
notes
Par
2%
negoti¬
series notes.
second
,
Bond
of
in
sur¬
accompanied by rail
1942
and - subsequent
100.00
Clarlngton
on
coupons, at the Guaranty Trust
Co., New York. Coupons matur¬
sealed bids until noon on Sept.
ing Oct. 1, 1941 and prior there¬
22 for the
purchase of $70,000
to will be paid upon presentation.
Interest
on
all
of the various 2% series M refunding bonds of
1941. Dated Sept. 1 1941 and due
numbered
bonds
called - w ill
1 from
cease
to accrue from and: after $7,000 annually on Oct.
32.00
Bank
1941,
bonds
said
v
1,
!
96.50
88.00
1%%
Co
of
form,
April
13.00
56.10
:.
Co—
&
Citizens
of
181.85
...
Co.
Bfc.
>
$285.00
11/2%
..
...
......
render
able
premium of 1V2 %
a
after Oct.
or
federal
Dti&trict,
Sold
&
Shepard
Roth
Weil,
;
Huron
Securities
White
A.
Hawley,
p.
15 from 1942 to 1946 incl. Denom.
$3,000.
J.
Provident
Prem.
Int. Rate
Bidder
BancOhio
Seasongood & Mayer
Ryan, Sutherland &
together with
on
Dated' Oct.
1
,
1941'.
Note Sale—An issue of $4,581.Denoms. as requested by the pury' 48 second' series
refunding/ notes
chaser.. Due Oct/ 1 1943. Bidder Was sold on Aug: 30 to'the kirst
may
bid
for
a
different
,
rate, of i National Bank of Springfield,
as
"
?■.
Optional Lynch,; Pierce, Fenner & Beane, engood, Jr., appointed
1.45s. Due in two years.
>
•1
Nov.- 30.
after
•
y1;,-/'V:/-'"
New
of
York,
V'r
District,
/f
School
City
Ohio
'
-
price of 100.167, a basis of about
1.23%. "I Dated
Sept.
1 .1941
Note
The District
receive
sealed
bids
Offering
will
Clerk
until
8
—
Sept. 22
on
p.m.
purchase
of
$10,835.99
refunding
notes,
-
.series
,
v
dated
31
1941.
of
the bids
required.;/j.;v
is
'•/;
W nllsville School District, Ohio ;
8
Sept.
$14,644.95
for
to
not
terest
second
notes.
Dated
due
16 1941 and bonds.
Optional after $1,000.
"
,
Rural School District (P.
O.
Bidder
to
Nov.
for
of
1%
order
the
payable to
isuue,
Board of Education,
the
of
check
is required.
......
ad
from
taxes
valorem
;
tary of Internal
Philadelphia,
joint managers of the $131,064,000
pond exchange group, announced
that in the period Aug. 1 to Aug.
of local offi¬
It does not confer on any¬
cials.
the right to borrow any mo¬
one
.
interest
the
bonds
on
of
class
a
OREGON
!.'.//
.
^
bonds, will, at the election of the
purchaser! relieve the purchaser
from his obligations
under /the
Election—We understand
Glenwood',,0re.
''
Bond
that
called
been
has
election
an
„•
18, to submit to the vot¬
issue of $48,000 water sys¬
for Sept.
an
ers
bonds.
tem
::
by the City Council authe City Treasurer to
passed
thorizing
/
place on the market an issue
$19,000 refunding bonds. •
/
.
of
(P.O. Erie), Pa.
Bonds
Publicly
building
1,
Aug.
to
Offered—Phil¬
1,
Denom.
$1,000.
.
in¬
Dated
1941.
Due $2,000; from
1944 to 1960} bonds ma¬
Voted —We
understand
turing,; in
resulted in
on
1952 to 1960, callable
Aug; 1 after Aug. 1, 1951.
any
$18,000 water sys¬ ^rin, int.. (F-A)
bonds. Denom. $1,- Security-Peoples
favor of issuing
tem
revenue
Due
1944
$1,000 from Sept. 1
Erie.
payable
>;
required
Bond
issues where the rule is
6f
shall
bonds
the
on
issuance
/
$585,000 water supply bonds.
RHODE
ISLAND
Cranston,
■ r-
'
R. I.
v...-':
.
.
'
'
.-
'
Note Sale—The $1,000,000 notes
offered
for
153
1311—were
p.
Jackson
0.347%
sale
Curtis
&
Sept. 3—v.
awarded to
Boston, at
on
of
discount, according to the
Dated
City- Treasurer.
Deputy
Due on Sept. 4 1942.
bidders:
Whiting, Weeks
Sept. 5 1941.
Other
—
for sealed bids
SOUTH
CAROLINA
opened
ma¬
Charleston, at 0.useful¬
</'
ness of the property or improve¬
Comment On Proposed Refund¬ 75%, plus a premium of $1.25.
ment to be purchased
with the ing Issue—In connection with the- Clemson Agricultural College of
proceeds, but the municipal au¬ prospective refunding bond issue,
South Carolina (P. O. Clem¬
thorities are made the sole judge the following comment is made
son), S. C„
of the period of usefulness.
in
the
current
edition
of the
Third
-
1311.
within the period of
All
—/
future
"assessment bonds"
or
issues
of
weekly
bonds to be
paid from the proceeds of assess¬
ments on
abutting property are
be
.o
dealers
"Already
ning
obligations of the
general
letter prepared by
Noyes & Co.:
news
Hemphill,
to
difficult
ssuing municipality, but munici¬
that
say
scale
to
begin¬
going to
are
is
it
the
stadium
been sold.
bonds have
South
reported
Business
$110,000 athletic
that
Manager,
is
It
—
Littlejohn,
C.
J.
issue
new
Sold
Bonds
by
of
Bank
tional
of
State
Carolina,
Phil¬
Suit To Test Issue of Hospital
adelphia non-callable bonds and Bonds—A court test of an act
ment may- be used as an offset in
the
Drexel-Lehman
prices
for
authorizing the issuance of $550,calculating the debt limit. /
; <' their various
coupon callable is¬
000 in state bonds for the State
look
to
right
against
old
pal claims filed for the improve¬
Muncy, Pa.
Portland, Ore.
:
the
Co.
Trust
at
r
1961.
..
otllfer things:
bonds ' are
Second--All
ture
for, general
bonds
recent election
Bonds
000.
i
lips,/ Schmertz & / Co. of Pitts¬
burgh, are offering $34,000 2V2%
Aug.
a
/ ;
of
meeting
a
considered
-
few
relaxed ; to make bonds saleable.
Township School District
vestment.
'
Nyssa, Ore.
that
for small
under-
resolution has been
that a
stand
turn of
his bid.
25
Aug.
about Oct. 15 for Charleston
County (P. O. Charlesthe purchase of an aggregate oi
ton), S. C. '";!v";:!;;/!'!•'//■/
$14,100,000
bonds,
comprising
Bond Issuance Pending —It is
$7,100,000 25-year serial refund¬
ing
obligations
and $7,000,000 stated by William J. Leonard,
water bonds.: Latter will be the County Treasurer, in/ connection
first offering in" connection with with the $200,000 general purpose
the $18,000,000 waiter qyscem re¬ bonds, that the matter of issuing
habilitation program which was these bonds is now indhe hands of
authorized sometime ago by City John I. Cosgrove, County Attor¬
Council. Proceeds of the refund-! ney, and Hugo Sinkler, of Charles¬
ton.
.!,!;/'.
ing loan, together with reserves
in the sinking fund, will be usee
Notes Sold—The County Treas¬
to
pay
off the $8,804,000 bond: urer states that $75,000 tax anti¬
which have been called for pay¬ cipation
notes have been pur¬
ment on Oct. 27 1941.—V. 153, p
chased by the South Carolina Na¬
to mature serially in annual in¬
contract of sale and
purchaser to the re¬ stallments Starting iri the second
the amount deposited with year after the date of issue except
'
Authorized—We
among
First—Ail
$14,100,000 Bonds
Issue
be
to
the
Millereek
Marshfield, Ore-.
Bonds
/
°
to
exchanged, thus in¬
were
City plans to ask
changes from the present law ana
provides
31
Philadelphia.
>
To
c;/;
'
some
July
on
of
creasing
of the
terms
entitle
v
.
'!>//
municipalities.!/ ■
The-, / Act., makes•
character- wb ich includes these
or
Co.
issue
an
improvement
& Stubbs 0.35%; First National
Bank of Boston 0.367%; Salmon
the aggregate amount
Bros.
&
Hutzler • 0.40%;
First
exchanged to $60,011,400. This in¬
Boston
Corporation 0.445% and
cludes all of series A and B, ex¬
Chace,
Whiteside
&
Symonds
cept $56,300, and all of series L.
0.45 % plus $2.
!
'/'.■//
bonds
.
.
additional
$1,132,400
incl.,
30
of
'
"
Lehman
and
able court
for the convenience
$60,011,-,
Philadelphia
Bros, of New York,
Exchanges Total
Bond
supplements and innumer¬
decisions, in one place
erous
,
Pa. / /J-/-! //;/.;•!
400—Drexel & Co. of
Act
the
Edgar Book,
than
;
.
re¬
existing law, now found
of 1874 and its num¬
state the
in
successful; one—to
a
C.
—
sold
&
,jy!''','
The Act is an attempt-—and we
Townsend,/Elliott & ney nor/ does it take away the
OKLAHOMA
^ Munson of Philadelphia, and to right to obrrow.. It rather sets up
the approval of the Pennsylvania
the /- procedure
for
borrowing
Okfuskee
County Union Graded Department of Internal Affairs..
where the power to borrow is
School District No. 29 (P. O. Oke- A certified check for 2% of the
conferred by the various munici¬
maha, R.F.D. No* 2), Ohla.
bonds bid for, payable to order
pal codes or other laws.
Bond
Sale—The $5,000 semi- of the District Treasurer, is re¬
As might be expected, however,
ann. school bonds offered for sale
quired. ' The enactment,i? at any
in a complete review and restate¬
on Aug. 30—v. 153 p. 1311—were time prior to the delivery of the
ment of the law some provisions
awarded to C. Edgar Honnold of bonds of Federal legislation which
weie
found which, in the past,
Oklahoma City, at a price of 100.- in terms, by the repeal or omis¬
had been abused and .others which
017, for $4,000 as 2s, and $1 000 as sion of exemptions or otherwise,
had been, unduly
restrictive of
13/4S, according
to the District subjects to a Federal income tax
the
Clerk.'
,.
•
•
water
was
'
believe
taxing limitations placed by
law upon school districts of this
class. Issued subject to favorable
opinion
•
1
incl.
Water Authority (P.
Sold
$580,000
Affairs, State Ca¬
pitol, Harrisburg.
and
Sept.
on
Proposed Bond Issue—Members
the same by address¬
ing their request to Honorable
William S. Livengood, Jr., Secret
Procedure
$101.71,
1941
1,
of the Authority at
secure
'
within
the
/ Law- Defines
>
i'.
bonds
1942. ;:
Any political subdivision, or its
representatives, desiring a copy
of the Municipal Borrowing Law
Act No. 87
ing Law," and is now
of the Session of 1041.
inheritance taxes, now
&
l^s, at
O. State College), Pa.
Hairison
may
1956
Secretary, reports
effective
becomes
Act
This
Sept.
*
*
Bonds
method of
January. 1,
Deane
as
of
annually
1942 to
/
of
signated "The Municipal Borrow¬
or
the
for
'.-
V'
•
case
this
serve
$2,000
from
and thereby pre¬
borrowing
municipalities.
Township
was
without
deduction for
tax or
taxes,, except suc¬
payable
cession
certified
bill
This
525.
Dated
State College
passed by the Legislature and
signed by the Governor on the
25th day-of June, 1941 and is de¬
—
A
30.
Bill
House
single rate of
a
name
incl.
1951
to
1942
F. A. Miller,
or
hereafter
levied or assessed
Clerk of the Board of Education,
thereon under any present/or fu¬
will
receive
sealed
bids
until
ture law of
the Commonwealth
7:30 p.m. on Oct. 1 for the pur¬
of V Pennsylvania,
all of -which
chase of $6,853.52 not to exceed
taxes
the
district
assumes -and
4% interest second series refund¬
agrees to pay. Bonds registerable
ing .notes.
Dated Oct. 16 1941
is
to principal only and payable
and
due Oct.
16 .1943.
Callable
Offering
Note
after
•4
from
1.46%.
due
objections raised by the Supreme
Court
in :/ the
recent
Abington
meetings, / spread
many
Singer,-
premium
a
offer¬
873—were
p.
Pittsburgh,
of the present law
are reenacted with minor amend¬
ments to meet the constitutional
a
bonds
equal to 100.339, a basis of about
Ninth —The non-debt revenue
by Representatives O'Connor and
Bretherick
and
was
known
as
$20,000 annually on
Due
1
any
Ohio
Pomeroy),
1941. Denom,!
Dated Oct.fl
interest,
.
Western
After
Pa.
plus
par
bond provisions
expressed in a multiple
of Va of 1%.: Prin. and int. (A-O)
is re¬
of the Board of Education,
quired.
Oct.
order
of the notes, payable to
1%
for
check
certified
A
30.
refunding
July
16 1943.
July
Nov.
approved by the court of quarter
sessions after public hearing. ;'.!■/,
period of two years, the
Bond
Offering — George^ B:;
committee completed such a bill
Hunter,'! District Secretary,: will; and the- committee held a num¬
receive sealed bids until 8 p.m. ber of
hearings prior to the sub¬
(DST) on Sept. 24 for the pur-,! mission of the bill to the Legis¬
chase of $200,000 not to exceed
lature.., The bill was introduced
3%
interest -' coupon
refunding /in the House of Representatives
the purchase of
exceed 4% in¬
series
District,
over
will receive sealed bids until noon
on
School
to
Scribner of
be
that the funding
safeguard
cou¬
principal
to
153,
Aug. 28—v.
awarded
law.
;
indebtedness.
municipal
in
ing
Co.,
Johnstown
Patton,
E.
Note. Offering—R.
Stuart &
ed
Pa.
$39,000
as
only, .improvement
provision is now made in the
It is required, however, as
no
a
v
registerable
pon,
operating deficits for which
ated
Eugene Reed of the Pennsylvania
League
and
various
of law firms specializ¬
NAs.'/Among
100.1669 for
of
bid
the, method
made
is
Township School
1310 E. Cum-
Sale —The
Bond
for
of funding accumul¬
Eighth—Provision
O.
(P.
berland St., Avon),
,
/
Lebanon
District
proval to proceedings for the is¬
suance of bonds.
President/of
$10,000,
South
payment purchase contracts
by limiting such ap¬
resolved
Is
rowing.
On this committee he
appointed
Walter
Greenwood,
the Association of
foi-<
as
time
commit¬
a
1942 to 1945: incl.d
Third Class
Cities;
Thomas F.
$15,000, • 1946 to 1948 incl. and
for the $15,000 from 1950 to 1956 incl/ Chrostwaite, President of the Bo¬
Association;
Harold
A.
" second An account composed of Blair & rough
to. be Co., Inc. and E. "W," & R. C. Mil-! Thompson, Chairman of the Sec¬
interest ler & Co.] submitted second best- ond-Class Township Association-
Clerk of the Board of Education,
1
1,
Sept.
prepare
1943.; Callable after Nov. other, tenders!; was an offer of Economy
A certified check for 1%
100.877
for
HAs/by y Halsey, members
.Sept. 1
/
due
lows:
Sept. 1 1941, bear
■:.'//at not to exceed 4% and mature
.
and
a
codification of
the law relating to municipal bor¬
to
tee
jointly as- NAs, at
a
Wellston
39
CHRONICLE
FINANCIAL
154 / Number 3977
"! Volume
Sale —The
v
•/./'/:>
>
•/'! „/
$12,000 3%%
Fourth
The
publication
of
scale
Drexel-Lehman
refunding bonds offered
semihospital
and
State
Training
Aug. 29—v. 153, p. 1165—were bond'ordinances or resolutions is runs from 1.50%. for 2V4S 1-1- school has been begun in the
offered for sale
awarded to Johnson & McLean, of simplified for most municipalities 1949/48 to 2.15%
for 3V4s 1970/ supreme court where Chief Jus¬
on
Sept. 2—v. 153 p.; 1027—were
Pittsburgh, at par plus a premium and at the same time made uni¬ 58. These comparisons of current tice
awarded to Halsey, Stuart & Co.;
Milledge L. Bonham signed
The period of time
of $1,141, equal to 109.50, a basis form for all.
prices for Philadelphia bonds are a temporary injunction, enjoin¬
Inc. of Chicago, paying a price of
of about
1.62%./Dated Sept. • 1 during which publication must be! interesting.
/
/
ing officials involved from pro¬
100.04, a net interest cost of about
1941 and due Sept. 1 as follows:
made has been shortened in some1
Offered
ceeding with the issuance.
1.40%, on the bonds divided as
$1,000 from 1942 to 1949 incl: and municipalities and provided for Drexel-Lehman
to yield
follows: $350,000 as iy2s, due $50,The
action
was
brought
by
$2,000 in 1950 and 1951. !
/ ; others, and may run concurrently
2V4S
1-1-49/48
1.50%
000 from Aug. 15, 1951 to 1957;
Bond
°
coupon
Sale—The $500,000
—
The
sues.
water bonds
^ann.
.
remaining
due
$50,000 on Aug. 15
with
HAs,
$150,000 as
the
in 1958 to
Bond
1960.
proposal for the
securities was' that of the First
National Bank of Portland, which
best
Second
specified a basis of 1.4362 per cent
for
$400,000 of the bonds due
1951-58 as l%s"and the rest as
114s.
'Phelps,
next
in
4396: per
000
I
FennCo.
as
issud
as
was
of
cost
with
1.-
21/2S and the
l%s.
Erie, Pa.
.
.
;
Sale—The issue of $190
-
funding and improvement
bonds offered Sept. 5—v, 153, p.
873^was- awarded ,vto ,,llarriman
&! - Co.,
Inc;" and
Election
in—v.
the voters
Correction—The
would
on
ballot
at
general election.
the
November
-
increase of the debt.
an
borrow
to
Thomas
to;
;
of any
This wilL ;'! 3VfiS
its
who
in
2.05%
that
authorization
Bonds
may
callable either at par or
provided
call
that the
feature
are
terms of
set form
in
original proceedings
izing the bonds. ,
the
r
author¬
to yield
/
his
this
of
pro¬
posed bond issue through a pro¬
vision in the general
state ap-»-
propriations bill is not legal.
1.45%
2!/>s
1-1-49
1.50%
not
2V2s
1-1-54
1.75%
He
propriations bill.
"It
seems
unlikely that
serial issue would carry a
as
maintains
petition
2V2S -1-1-48
be made,
at a prem-|
,
Municipal Borrowing Act
Non-Callable
consummation;
,
—
Crouch, of Columbia
1.70%
Offered'
jeopardizing the rights!
interested group.
,
/
Fifth
the
.
and
W.
1-1-68/49
1-1-68/54
3s
without
ium
Pennsylvania, State of
New
election to se¬
p.
of
the
notice of an
the assent of the electors
1311—that substantially reduce the minimum!
consider an is¬
elapsed time between the desirei
153,
$35,000 municipal build¬
ing bonds on Sept. 9 was incor¬
rect, as we: subsequently learned
that the proposal would appear
sue
cure
high
as
turities.
If
3%
even
the
a
new
coupon
contends
properly
in
asked
Justice
in long ma¬
permits a October
city
part
a
A permanent
ed
authorization ' is
such
in
of
an
ap¬
injunction is ask¬
the petition, and
Bonham's
term
,
order
of the
set
court
as
the
the
Meanwhile
the early years prob¬ time for a hearing.
/ Sixth—The items to be included ably will have coupons lower the following respondents are en¬
lowing information is taken from
in the debt and
the deductions than the Drexel-Lehman bonds joined by the temporary restrain¬
the August issue of the monthly
permitted in determining borrow¬ and should be worth a lower ing order: Christi Benet, chair¬
bulletin published by the Depart¬
on
the double ground of man of the board of regents of
ing capacity are specifically item¬ basis
000
Ripley
,
Passed
.
PENNSYLVANIA
Bond
report
$105,-
'cent for the first
of the
balance
-
order
: /'/•.'Lv//
'•/,! Newport, Pa.
,
Merrill,
ment
by
Legislature—The-fol¬
of Internal
Affairs
at Har-
split
rate,
ized-.
face
rate
and
single
maturity. the State hospital; Gov. Burnet
risburg: ♦, • >
=:
State
Treasurer
Seventh
The
troublesome There will be room, for interest¬ R. ;- Maybank,
Following the .1939 Session of
Jeff B. Bates and Secretary of
the Legislature, the Secretary of>{ question of approval by the De¬ ing differences of opinion among
State W; P. Blackwell. 1 /
partment of v Internal Affairs of bidders.'' M;xj/
Internal Affairs, William S. Liv—
40
Spartanburg County (P. O. Spartanburg, S. C.
>
eided
$100,000 road improvement bonds that
Aug. 21, as described in detail in
1165:
■
7 '
an
£>.
,
Int. ltate
Smith
&
Pate,
Greenville;
Inc.,
The
Weil,
Roth
&
Irving
:
Decatur
i
;
-
,
■
:
.
SOUTH DAKOTA
Pleasant
Hill
School
2% .'
•
7.
'
No.
55 (P. O. Canton), S. Dak.
Bond
Rrid
Offering
Both
—
cities with only 67 per cent
of its allowable
$16,930,000 worth
Of
bonds
phis
sealed
oral bids will be received
by
Tilman Lappegard, District Clerk
until Sept. 12, at 8 p.m., for the
int.
trust
payable at
any bank or
designated by the
company
successful
will
b'dder.
furnish
No bid for
crued
the
The
less than
interest
district
printed
and
par
be
can
bonds.
ac¬
considered,
end all bkls must be accompanied
toy a certified check for
payable to the district.
r
'■'* r:V--V
$200,
i
next
of
its
with
73
bonds
Bond
■'
Sale Betai's—It
that the
is
stated
$125,000 1%% school im¬
County
(Pi
262—v.
O.
Bond
Call—I.
County
(P. O,. San
io),
Pitts, County
Bond
77;7 ,:.77.
Texas
Election
understand that
Anton-
Tenn. 7* 7"'77.7' //.' 7
Bond Sale Contract—The Coun¬
School
Building
Commission
'is said to have contracted for the
sale
the
of
$190,000 school building
(These bonds are part of
the $150,000 issue approved by the
voters on May 14.)
Bond
that
Election
—
election
an
is
has
reported
been
called
for Sept. 20, to submit to the vot¬
ers
issueof
an
bonds.
7
7
Bridge
$60,COO
: Vv
7'
water
777'
Authorized
ft stated by O. L.
ordinance
an
Aug.
26,
pass
on
on
calling
■next• March
It
pass¬
third reading
for
to
—
Woodward, City
Clerk, that the City Council
ed
-
election
an
have
the' issuance
the
voters
of the. fol¬
lowing
bonds aggregating $2,000,000;' $1,775 030 sreet and sewer
construction"
and
$225 030
fire
stations, drill tower and equipiment
bonds..
A-h"■
,
-■
■
\^• 'Vy-V;
Tennessee V^;
7
Finances
of Big
ed—Nashville's
the
for
Cities Discuss¬
financial
fiscal
position
1339-40 was
of the four
year
the
strongest of any
•large cities in the state,
the
of
local
fifth
annual
government
nessee
study
survey
of
by
Taxpayers
showed
cn
a
the.,Ten¬
Association
Aug. 30.
''7
indebtedness
.'
Bond
Texes 7'"'*■? '■
-
Offering—It
net
a
of
is
stated
by
J. F.
Hammers, County Superin¬
tendent, that he will receive bids
until Sept. 26, for the purchase of
$44,000 school house bonds.
Due
serially in 30 years.
Bidders to
name
rate
Burton
of
interest.-;:
Common
No. 22
School
District
(P. O. Brenham), Texas
Bonds
Sold
—
The
County Su¬
perintendent of Schools
ports
that
ann.
school
the
$9,000
bonds
now
3%
redeem
on
Oct, 10,
at
par
and
investors., 7;'
Cameron
offered
on
'"7•
7.
••''''>'
,
County (P. O.
ville), Texas
Browns¬
2,
road
April
10,
Bond
will
understand
held
recently
$60,000 airport bonds
Offering
10
1938,
port of 1941
to
bonds.
bids
ajm
sealed
for
an
the
be
issued
7'.'
,7-v
„
this
compared to
$19,744,000 for Memphis, $18.854 000 for
Knoxville, " and
$15,283,000
for
'Chattanooga, the survey showed.
4%, payable M-S.
Dated Sept. 1, 1941. Denom..
$1,000. Due Sept.
I, as follows: $1,-
ceases
on
;(P>
O.
.
..
Anson),
Sale- Details—It
reported
that
the
is
now
zens.
Knoxville, with
led
net
the
a
list
population of
with
a
debt of $168.98.
per
Chatr
tanooga With
128,163 people had
capita debt of $119.29 and
Memphis
with
292,942
people
a
per
stated
Auditor,
$150,000
$500,000
which
school
public
should
were
and
market
approved at
is
with
.
for
payment
Oct.
on
2s,
as
to
$100
1953
1965
in
to
May
1942
to
1962,
$300
$1,000 in
and
Principal and inter¬
payable
the
State Trea¬
surer's office. All bids to be made
said
at
the
of
right of the State
Education
bonds.
for
to
purchase
a
certified
Enclose
2%
of the
at
Prin. and int.
(M-S)
will be received until
pay¬
the State Treasurer's
noon
(CST),
on
off¬
Dated
Lock Hill
that
an
at
San
1
School District
Common
O.
Antonio),
Texas
election
an
issue
held
in
of
7
/ ■
1
to
•;:
1941.
Due on April
Legal opinioii
& Raymond of New
1981.
^ '77;;
77;; -7,;7, ;
San, Juan;
recently
,%./yj
Texas
.
of
Bankruptcy Hearing Scheduled
$30,0007construction
approved.1 7<' 7:v>7
bonds was
Oct.
1942
Caldwell
York. 7
Voted'— We Understand
Bonds
McLennan County
-The creditors of the above
city
being advised that a hearing
(P. O. Waco),
Texas
in
V-
on
7 ./• ''-A
V"
the
bankruptcy
petition
scheduled to be held
at
9.30
a.m.,
is
Nov.
15,
on
in the United States
Courtroom, in the Federal Buildr
ing at Houston. '7-7'777/7°
(It had been reported previous¬
ly that the hearing was sche¬
duled
for Oct. 4.)
/
,
77
.
7/7
Shelby County (P, 0„ Center),'
'7 7.7:
Texas
.
.Bonds
and
1944
interest
payment
Ranger,
Bonds
1947 to 1965. Callable
that at
date
of
a
Voted
recent
Texas 7.7,
—
is
It
was
sumption
ceases
on
..
.
election
Sold
The
-r-r,
Question
Stevenson
the
legislature
special session
issue
an
sewer
with
approved.
the
Judges
Texas
Bond
M.
per annum
Oct.
turing
Oct. 1
1945
;.,;i,7.7.;
ma¬
serially
during the years
1971, but redeemable on
interest
paying
date,
are
called
the
Issuance
for
payment
Central
on
Hanover
Oct.
1,
Bank
at
be
that
called
in
Sept. 9 "to deal
bond
assumption
the
County
Commissioners As-r
,
bill,
ed
the
the
belief
Governor
that
this
express¬
could
be
done
by the lawmakers without
wasting much time, v 7
■
7
,
Speaker Homer Leonard of the
,
j
House and Senator Allen
Shivers
have been
interviewing the law¬
makers and they have
"left the
impression- with
venson
that
the
not prove to be
are
as
Governor
Ste¬
question
need"-
knotty
as some
inclined to believe.
.
Bond
&
Governor
stated
sociation of Texas has not reach¬
ed an agreement 011 the
form of
the
to
any
Houston, Texas
from
1, 1946 to maturity; and
will
While
and
—
has
on
road
question."
Raymond ville,
'
Bond
Coke
reported
$35,000 not exceed 4%
bonds
be. presented for payment
unmatured coupons at¬
the
recent
in
bonds.
Due
,
1. 777.77
all
bonds,
a
1941.
Sept.
17, by Ray Mackey,
the First National Bank, Secretary, for the purchase of an
Net income basis of about issue of $1,338,000 housing bonds
Issue).
1.87%. 7777':77777;7/77'.H7/: (First
Denom,; $1,000.
April 1, 1935. Denom. $1,-
any
1941,
bonds
Sept.
$10,000
on
Jackson, both of Dal¬
bonds, pay¬
100.546—v. 153, p. able to the district.
7 7
874—are dated Sept. 1* 1941, and
San
Antonio
Housing Authority
mature $4,000 from March 1 1942
(P. O. San Antonio), Texas
to 1956; optional on any interest
Bond Offering — Sealed bids
payment date on and after March
las,
000
and payable upon
by Stuart
Bailey,. City tached. Interest
in connection with the
'
1S63
check
&
.
111.588
$200
Callihan
-
(capita
/
7
following
1945, $15,000, road bonds
giving the
aggregating- $3,0,090,
holders thereof 30 -days' 'notice 1946 and 1947, $16,000, 1948 and
approved by the v7>Ws on
Aug.
of such intention.
$17,000 in 1950 ' and
Bonds are to 1949,; and
16, are said to have been pur¬
be
printed,, registered and'; ap¬ 1951; optional after five years chased by local
investors: $15,proved by the Attorney-General from date of issue. These bonds 000
District No.
1, and $15,000
prior to delivery qt the expense are being offered subject to the District
No. 5 bonds.
'
7 7
7
of the city.
Purchaser may se¬ outcome of an election to be held
on Sept.
cure market bond
2. A certified check for
7
Stamford, Texas
attorney's opin¬
7
5%: must accompany the bid. 7
ion at his expense and
Blaturity—It is stated that the
any or all
bMs shall specify the time
(These bonds were originally $16,500 4% semi-ann,
for se¬
refunding,
scheduled for sale on Aug. 30, as series of 1241
curing the same. These are the
bonds exchanged
bonds authorized at the election noted here—v. .153 p. 1312.)
with the original holders
through
held on Aug. 23. Enclose a certi¬
R, K. Dunbar & Co. of
Austin—
Motley County (P. O. Matador), v. 153
fied check for 10% of bid.
7
p.
1312—are due $1,500
/ :;7 T""
-.■' 7'>, Texas
7 77-7:
" I' / from March 1 1942 to
1352; op¬
Hidalgo County Road District No.
Bonds Defeated—At an election tional on March 1
1942, or on any
1 (P. O.
Edinburg), Texas >7 held in
Aug. 9 a proposal to is¬ interest payment date thereafter,
Bond Call—It is stated
by K. sue
$70,000
road
improvement on 30 days' notice.7777 7.7''.'-;7'/7
W.
Bonham, County Treasurer, bonds failed to receive the re¬
that series 1935, 2%,
Texas, State of
3%, 4%, 5% quired two-thirds majority.
'
and
51/2% refunding bonds, are
Special Session On Bond As¬
due
Bond Call—It is stated by O. D.
It
15,
follows:
Board
.
—
May
court subject to
$60,000
p.m.
the
as
est
Bond. Offering — Sealed bids
1945, $2,000 in 1948,
will be received until 2 p.m. on
1947, $5,000 in 1948 to
1951, and $6,000 in 1952 to 195S. Sept. 5, by the Commissioners
The City Council may and in its Court, for the purchase of $150,Interest rate
discretion and option on or after 000 airport bonds.
Oct. 1, 1952 declare any or all is not to exceed 3%, payable M-S.
Denom.
bonds then outstanding or which
$1,000.
Dated Sept. 20,
19417 Due on Sept. 20. as follows:
may thereafter become due
(be¬
$13,000 in 1942 and 1943, $14,ing bonds Nos. 31 to 60) .-to be
Hidalgo County Road Dis'rict No,
2
(P. O. Edinburg), Texas)
called.
Additional Information
'
until 5
1966 to 1971.
•
in
prior to maturity. Payable at the
office of the State Treasurer.
5C79.
are
date
Wellington),
purchase of
semi-ann.
building
1952,
000 in 1942 to
on
being
10, at
par and accrued interest, at the
office of the State Treasurer. In¬
terest
bids
for
15,
......
Call—It is stated by E
Tomme, City Treasurer, that,
series 1926, refunding bonds, Nos.
Kirkland, County Clerk, that se¬
Crosbyton, Texas
ries 1935, refunding road bonds 1 to 221, dated Oct. 1, 1936, in the
Bonds Sold—A $53,000 issue of
denom. ' of $1,000 each, aggregat¬
aggregating $753,000, dated April
''
Nashville's per capita net debt electric revenue refunding bonds 1
1935, in denom. of $1,000, ma^ ing $221,000, bearing interest at
the rate of 4% per annum from
also fell under that of any of the is • said to have been purefi^eci turing
April 1 1947 to 1965, are
Oct. 1, 1336 to Oct. 1, 1941; at the
large cities of the state.
There by Callihan & Jackson of Dallas. called for payment on Oct.
1, at rate of
was a net debt of
5% per annum' from Oct.
only $37.17 for Dated Aug. 1 1941.
par and accrued, interest at the
each of Nashville's 167,402 citi¬
1, 1941 to Opt. 1, 1946; and at
State Treasurer's office.
Bonds
,,7 7
Dallas, Texas
7,1
the rate of 5^%
$10,769,000
only
O.
Texas
are
is not to exceed
$4,000
8,
interest 4%
house and jail bonds sold jointly
to R. A. Underwood & Co., and
r
on
rate
Interest
County
Bond
Oct.
on
-
set
on
Texas
(P.
Sealed
—
until
called
Offering—It is stated by
B.
W.
Beaird, County Superin¬
tendent,
that
he
will
receive
in
Jones
7/
7
be received
000. Due in
refunding
bonds, numbered frcm 1
dated
election
approved.
was
called
Treasurer,
series
an
issue of
an
Dated
Bond Cal!—It is stated
by Mrs.
W. R; Jones, County
that
at
been
-
re¬
semi-
April 1, were purchased by local
called for payment
The city cf Nashville had
bonded
City
Consolidated School
District No. 7 (P. O. Orange),
'7/
Nashville, Tenn. 4' ;.1
Election
to
Sept. 16, by Mayor J. W. Barlow,
postponed for the purchase of $60,000 air¬
It
be
/
and
Commission¬
bonds.
Bond
passed
accrued
7'^7/ 7;7:
7
Postponed —We
Court on Aug. 21
1, 1935, due on Oct. 1, 1955, are
being called for payment on Oct. indefinitely the election that had
t, at the First-Citizens National been tentatively fixed for Sept.
Bank, Dyersburg:■ Series D bonds 20, to submit to the voters'the
Nos. 256 to 1576, and Series J $600,000 road
improvement bonds.
bonds, Nos. 4015 to 4214.1 Inter¬
Brazoria County Water Control and
est ceases on date called.
Improvement District Nc,. 1 (P.O.
Lake County (P. O. Tiptonville),
Angletcn), Texas
.
duly
adopted by the city council on
Aug. 28, has exercised its right
that
'
TEXAS
been
bonds will
year/
-
ers
ty
that
V
-
understand
has
Bond
basis, and 1 sincerely doubt Dated
any
153, p.
1942 to 1959. Each of said bonds
1S41, and mature on July
will
be
redeemed at
the 7 First
$5,000 in 1942 and 1943, $6,000,
National Bank, 'Dallas.
Interest
1944 to 1949, $7,000, 1950 to
1958,
shall cease from and after- date
and $8,0G0 in 1959 and
i 1947.
1960, giv¬
fixed for redemption.
ing a basis of about 1.72%. Prin.
able at
and int. (J-J) payable at the off¬
Greenville, Texas
\ ' j* ice, or
ice of the County Trustees.
; r
Dallas.
Bonds Voted
Dyersburg)
'Chairman, states that the follow¬
ing refunding bonds, dated Oct.
■'
Texas
July 1
Bexar
L.
rate,
City Secretary
Granbury,
pursuant
resolution
a
election
/''
.J77;77V7,.y,':;:!
date, has
Bond Call—The
to
Election—We
an
District No. 2 (P,
alarm system
sale which- will
airport
if
Granbury,
(P. O.Refugio), Texas
1
bonds.
construction
1:
.
Tenn.
•
$40,000
—We
TEKN'ESSEE :•
*
of
issue
an
7
No
for Sept. 22 to submit to the vot¬
ers
that
650,000 for tuberculosis hospital
320,000 for extension of fire
$8,270,000
called
syndi¬
cate headed by the Nashville Se¬
curities Co. of
2
7
V. Bond.
reported
been
a
■
Oyer
is
has
election
an
"
-
interest, $49,000,
4J/2%
refunding bonds, dated Oct. 10,
1937, Nos. 14 to 111, in denomin¬
Nashville, at 100.ation of $500 each, due April
10,
1311 — are dated
provement bonds sold to
Refugio County Road District No.
;V
'
way
was
Texas
Election—It
Bond
that
issue
an
v.'.., r" V-'.-'
Georgetown,
states
(P. O. Minnville),
Tenn.
-,v
■;
V
Texas
gymnasium bonds
1941
for
Sept. 18 to submit to the
800,000 for permanent paving
voters an issue of
..,$200,000 road
,300,000 for bituminous topping
improvement bonds.
800,000 for flood control
700,000 for land and right-of- Samnorwood Rural High School
Dis
understand
election
recent
a
$10,000
approved.
ac¬
Warren County
:....
that at
Voted —We
of
per
•7,7
\
,
(Pi, O. Decatur),
Bonds
.
School
Mem¬
only
allowable
tually issued.
of 3.590 net to exceed
4% semi-ann. school bonds. Doted
Sept. 15, lS4i Denom. $351 Due
$350 Sept. 15 1942 to 1951. Prin.
actually issued.
was
cent
jourchase
nnd
78.00
•>
four
."V;
District
><.
Independent
trict
—
'
Saturday, September 6,
am
•.
.
•,
C.ncmnati,...7.... 1%% "• $530.00
Strananan, Hams <fc Co., Toledo
...........
lW/o'
443.00
ttia-sjy,
csiuart
&
Co., Inc., New York;
The Peoples National
Bank, Rock
Hill;
Hamilton & Co., Chester
1%%".
426.00
JSraun-Bosworth
&
Co.,
Toledo
.........•,....,..,"..,...,4.
!%%<.
336.00
Rarris
irust
&
Savings Co., Chicago.. —,...,...,...,,...7
> 7%%
.* ,189.00
Xtommerce
Un.on
Bau.t,
Nashville,
P.
E.
Kline
&
Co.,
Cincinnati, Pcx,
•
Reusch & Co., Cinc.nnat.;
M.Dougal & Condon, Chicago..'.....,...'...;.;.'
180.00
R, S. D.ckson <te Co., Charlotte; First of Michigan Corp., New
York}, Southern
InvestmentCo,,1 Oharlotti •'7
7
803.50
7,V'7V.> 2% !.
♦Trust Company of Georgia, Atlanta; Blyth & Co., New
277.00
York.,2%
Cttirens & Southern National Bank, Spartanburg
100.00
,,.,4
2%, /
.R. M., Lr/v: & Co,, Spartanburg; Robinson-Humphrey
Co., Atlanta!.,
■-
sale
Premium
Co.,
»•••
♦Purchasers.'
the
is
were award¬
,
.
Name—
•McAii&ter,
.
,
issue of Aug. 23—v. 153,
V,..■■■
>
our
to
as
date, for the
giving you the official list:
$500,000 public market, bonds.It $2,500,000 for sanitary sewers
expected . that a sale of some ; 1,400,000 for storm sewers
*
kind will be made in from 60 to : .!
800,000 for
airport
improve90 days.",.
/.
-7 :\r. ■_'/
,77
ments»
{
List of Bids—The following is a complete tabulation of the bids
submitted for the
ed
'
FINANCIAL CHRONICLE
"Texarkana, Texas
»
Election—We understand
Contemplated— \
that an election has been
called
informed by W. H. Maun-: Trust Co., of New York.
Inter¬ for
Sept. 16, to submit to the vot-*
City Controller, in a letter est ceases on date called.
net debt of $67.40 per.capita. '
ers
an
issue of
a defense
$182,000 general
school, but will pay for dated Sept. 2, as follows:
fund bonds.
The
7
report showed that both it out of funds on
Redland Common School District
hand,-which
Replying to your form inquiry
'Chattanooga and Knoxville ex¬ money will be restored later on of the
No. 25 (P. O. Lufkin), Texas
14th, ult., which I have re¬
Thornton Independent
ceeded
School Dis¬
the
state's
legal
limit, when the $150,000 bonds have frained from
trict (P.
Bond Sale —The $9,000 3V2%
answering until I
O. Thornton), Texas
which
permits net bonded
in¬ been sold.
The plan is to include received official
notice from City semi-ann.
refunding bonds off¬
Bonds Sold—It is
debtedness of only 10 per cent these bonds when the
reported that
city next Council of the amount of bonds ered for sale
Aug. 16—v. 153, p $9,400
of any city's assessed tax valu¬ offers other
4%
semi-ann.
bonds for sale.
No they intended to issue.
building
874—were
purchased
by R. K. bonds have been
ation.
NashviUe had the largest other
purchased alt
bonc(s are planned at this
This notice was received
by me Dunbar & Co. of Austin. Due on par by Elliott
& Eubank of
margin of safety of any of the time,
Waco,
noj.is anything definite de- some four or five days ago, and I Aug. 1 in 1942 to 1961.
Due on Aug. 1 in 1942 to
1968.
also
exceeded
Nashville
with
a
election, the Board of Education
has purchased
property for use as
We
are
sell,
,
•
>(«i^flW#K^m<*i it«MtfiMk*p^HWv^Wfsi
w\
Volume 154
*
'■
•*
••' •./••
Texas .*~;V+£•'*' V'..-
r.K
Sale
Bond
Details—The
^
j
153
Coun¬
the
by
to
Following is
and
48,
William
ations,
&
1941.
1
in
Due
20
pointed out that the grand aggregate of
$43,477,722. This constituted the smallest
of State and municipal borrowing contracted in any month
years,
will
received
be
Al.entown,
Aito
Va.
City,
1
ioo3
Arkansas
C.ty,
Kan.
1941.
Dated
April
Oct.
in
1
1
1942
Newport News,
873
1021
1961
to
Sals—The
Bartow
1159
Baton
1303
Beilaire,
Onio
$300,000
Mo.
Tree,
1303
Bme
2—v. 153 p.
1308
a
1166
group
of
The Investment
1
as
559,
Corp. of Norfolk,;
M»s, paying a price of 100.basis of about 1.42%. Dated
1941.
15
1942
—The ' successful
subscription
to
maturity.
reof-
yield
according
at' prices
0.25% "to
from
Investment
bidders
bonds for public
the above
fered
15
to
1.50%,
;
Cle
Bond
Elum,
Issuance
ning
;'r
D.,
County
Sch.
We
—
refunding
1021
Bridgeport,
'
Bristol
Biownsviile,
1160
B-Chnnan,
1160
Buffalo
ed
111.
—
County, N. C
Parish, La.
Bushnell,
866
Chandler
S.
Childress,
the' County
that
resolution
calling
of
ance
bonds.
for
4%
$5,000
of
Board
recently
passed a
the issu¬
refunding
1309
Dade
Spec.
Tax
East
East
Edgemont Ind.
1306 Edina,
Minn.
$10,000 issue of
school bonds is reported to have
purchased
kinson-Jones
recently
Co.
&
of
At¬
by
1312
El
Paso,
1020
El
Segundo,
1305
Erin
Portland.
Texas
Calif.
i
-
Clerk
Sold—The
Bonds
of
the
Ohio
1309
Euclid,
of- .Commissioners
Board
the
that
general
improvement - bonds
tion
without
success
on
states
obliga¬
offered
$60,000
June 27,. were
Ohio
1162 Evans,
FownsVille,
1021
Franklin,
1305
Franklinton,
13-12
Freestone
1308
Gaston
Co.,
1312
Girard
County-Line
follows: $9,000 as-3s,
1021
&
due on July
I, $2,000, 1943 to 1945, and $3,000,
1946; $35,000 as 2s, due on July
1, $3,000, 1947 to': 1955, $4 000,
1956
and
1957;
the remaining
$16,000 as 2V4S, due on July" 1,
$4,000 in 1958 to 1951. Optional
after 5-years from date of issue.
Interest payable J-J.i"
Report
with
on
and
light
153
—v.
p.-
has
letter
Thomas
our
$4,000,000
bonds, reported
power
detail in
in
Bids—In connection
.sale.-.of rthe
the
been
following
sent
A. " Swayze,
by
-out
City
troller:
Con¬
for
867
11G2
Harrellsville,
1306
Hattiesburgr Miss.v
Harborcreek
Hazelhurst
Mun.-S.
1166
Hempstead
Hempstead
Dist.
871
1309
Hooking
1306
Houston,
1941, please be advised that bids
received from eight groups
were
representing
some
:
.,
Monday
August 25th in accordance'with
the provisions contained in the
official
notice -of
(Continued on
sale,
Page
the
42)
best
1133
Richmond
3.16
1312
Dist.,
12,500
100
100.87
1.35
1942-1946
10,500
100.14"
Y.19
100
1.00
100;
4.50
1942-1946
17,000
2'/2
1942-1956
'15.000
4V2
N.
County,
1943-1961
C.__—1
111.
Township,
10,000
Colo.
Texas
__r
Minn.
'
8,
6 000
1942-19G2
—}~3y2
D.
r30,740
-
1942-19C6
r200 000
100.04
874
St.
George,
Utah^_U_^ii___4-4%
1944-1857
d269,000
100
870
St.
1946-1961
rlOO.OOO
101.57
St.
———1%
Landry Parish, Bellevue and
2%-3
Joseph,
Mo.
Coulee Crouche
Grav.
Dr.
3 y2
1942-1951
10,000
Park,.
Minn.
2-2 »/2 '
1943-1957
26 /,000
Park,
Minn.
2'A
1943-1952
10,000
870
St.
Paul,
Minn.
100
100.48
3-00
1.42
868
St.
Petersburg,
100.32
1.13
3.15
2.30
1.89
2.38
1028
Sauk
1027
Scranton,
2.12
1312
Sheperd
1022
Shelbyville
La.
20,
1158
1306
Saline
1307
Saltaire,
Sandia
1312
San
867
100.30
101.17
100.02
100.C6
—
101.35
100
100.22
S.
S.
D.,
Mateo
100.22
1.16
102.10
3.75
1942-1950
35 000
100.10
1.92
2
Mo
1947
r5 000
101.52
1.73
1942-1946
4
30 yrs.
9,000
1942-1966
375 000
Sch.
1.99
r50,000
100
2.50
1942-1951
1943-1952
50,000
1955-1061
r40,000
1943-1958
80 000
1947-1956
6,000
and
Brookffeld,
N.
1,
.
-
1.84
and
Sibley
Sioux
No.
1,
Central
;
3
f
1.08
1159
:
l'/2
1943-1945
101.50
3.52
1024
Smithtcwn,
N.
Y.
0.90
1942-1945
Somerville,
Mass.
0.75
1942-1946
C—_—1%
1942-1951
Pa.'——2
1943-1958
.1 1943-1971
1942-1946
1943-1944
.
3.00
2.35
2.05
2.67
100.19
1943-1966
3.98
.,,
•
102.04
101
S.
Dist.,
1.78
1.71
3.50
1.67
______
____
121.500
100.23
1.97
dSOO.OOO
1943-1947
7.500
100.26"
L19
6.424
100.30
1.35
460,000
100.01
1.35
52,
Texas
Sumner
1312
Tacoma,
Tarrant
1022
Taunton,
1166
Taylor
1028
Texas
Tiffin,
1164
Toledo,
School
Separate
1943-1957
■
.
1942-1949
Co.
S..
Dist.,
1945-1959
1942-1961
d4,000,000
100
1.74
30 yrs.
2,400
.100
4.00
1942-1951
119,000
100.23
35.000
103.52
1.80
106.56"
"l"l5
iss.)l,L_——IVi
Wis.
County.
City,
94,
(3
Mass.
„
VA
1942-1951
•
1943-1953
36,
D.
_:
Turkey
Ind.
S.
D.,
Texas—
1165
Upper
Darby
Twp.
Sch.
1158
Upson
County,
Ga.
Valley; Park,
____
1312
Van
1027
Waldport,
Wafdron,
\ f-90
1311
Wsrren
______
1.12
606.6S9
100.64
0.85
20 yrs.
10,000
100..
3.00
4 800
100.13
2.07
1966
3
rl30,500
Dist.
1942-1957
4.00
y^hQO
1.70
101.11
1941-1951
________2.10
Y.
1.70
100.34
37.000
<V.;;
Texas—3
N.
100.34
26,600
1942-1951
—1%
iy2...
r654,754
1943-1945
iss.R—i—_1
1312 Travis
20.000
1946-1950
—_1%
Ohio
Toledo, Ohio
Toledo, Ohio
1159 Topeka,
Kan.- (-5
1310
S.
Zandt
No.
1022
8,
Iowa
100.82
0.90
100 000
100
3.00
Precinct
1942-1966
——3-3%
100.000
11 000
Ore.
Ark.
Washington
•
Justice
400,000
--
45,000
—
Texas
Co.,
1951-1960
—r3
Mo.-
Co.
——111—— 'II
Te'"n.
Township
:
Sch.
___________
'150,000
100.13
2.23
Warrensburg,
111.
109.13
40,000
1%
125,000
100.62"
Dist.,
,2%
1943-1947
2 000
„i
1158
1.19
100,000
Texas
Ohio
Co.
>30,000
iy2-3
Texas—4
____,
D.
•
•',;
6,000
3>£
Wash.
9,500
1912-1943
—
•t
-
3 5(>
1943-1968
2.63
.
2,000
1945-1951
1.99
lOO"""
1942-1956
1312
100
100.40
1.67
100.04
5,500
Spring Lake, N. J. (2 iss.)
2
Springville, Utah (3 iss.)—2y2-3
Steubenville, Ohio
l'A
1027 Struthers,
Ohio
iy2
1166 Sullivan County, Tenn.
__VA-IV2
1027 Summerville,
Pa.
0.98
100
dl0,000
100.53
8,000
1161
Trenton,
1
1943-1951
100 000
M
____
.
0.73
1027
D.
1306
6,000
1.50
0.35
100.10
19 yrs.
1162
■
rlO.OOO
3 00
100.11
30 000.
3'/2
Hill S.
1303
:
■
1.48
3.00
180,000
(131,000
__
1164
,
100.18
100
-
"
1310
100.31
100.15
h
-
Sch.
Miss.
15,000
115,000
j
r
Minn.
1306
360.000
; 7,000
rll.OOO
....
:
"
•
-
Dist.,
874
____
100.21
r80,000
1.48
Sen.
Y-.i/2
N.
Twp., Minn.
City Ind. Sch.
1312
•
100.18
Columbus
100.89
15,000
•
~118
Sch.
—_l'/2
Plymouth,
Brookffeld,
"Dist.
1161
102.31
2.15
£66.44"
Sherburne, Norwich, New Berlin,
Spring
-
100.56
r58,000
Columbus
Central
Y.
10 000
1842-1169
.
Dist.,
Plymouth,
No.
1.55
2.09
100.38
,2'A
1162
4.00
243 000
4
Ind—„1%
1162 Sherburne, Norwich. Ne.v Berlin,
Texas
D.,
Sch.
Smyrna,
100
100.44
101.27
Village Sch. Dist.,
Ohio
S.
4.00
1950-1952
Utah_2y2
Dist.,
'100
1842-1961
2
County
40.000".
1942-1956
___2%
Pa.
Sevier
7.500" '
Calif.—iy2-5
Texas
Wis.
Sheffield Lake
2.25
132 000
r660,000
4
3,
County,
City,
3.30
2.33
100
1942-1961
-^l
Y.
1026
3.50
1.72
101.80
D.
N.
1166
■
100.65
—
Co.
101
100.24
1942-1951
___1.20
Fla.-'<.__;—_______4
County, Calif—1%-2
Sacramento
1.61
Dist.
Louis
1312
,
25,000
1942-1953
—1
Louis
500,000
—
4.50
rl3,500
10,000
Spooner,
24 yrs.
'Calif.
1.05
.
211,000
Spartanburg County,
1943-1957
Dist.,
___2J/4
1.07
100.18
1942-1951
Spartanburg
1942-1961
Lakewood
100.17
30,000
1944-1968
1306
,_4
Utility
Stock
1165
VA-V/2
Kramer, N. Dak. ____________-_3y2
Sup. v
Ind.
1.73
1.G1
King High S. D.-'16; Texas—4
1028 King and Snohamish -Sch, Dist..
Wash.
—--5
Public
Fourth.
1.35
1312
867
100,000
Miss.i4V2
100.16
100
105
100
100
100
6,
872
1.10
St.
100.17
C.
1942-1965
1942-1949
Dist.
St.
r81,000
35,000
iss.)
•2~24
1944-1948
2'A
iss.)__—l'A ;
——
1023
1954 ,
1942-1951
S.
166.04"
rd325,000
1023
-2
iy2
(2
2.71
rlO.OOO
49,000
1944-1972
1.75
JefTerson
Kan.
100.40
1942-1961
.1.24
100
Jefferson
Kershew.
3.00
9.000
-
;
100
1303
873
100
r7,500
__
99,
2%
Sch.
Rpgers, Texas. -4.4—
870 Royal
Oak Twp. S,
2.48
1303
Colo
2.26
1159
-
100
100.14
S. ..Dist.
1.48
100.14
Mich.
4.00
4.00
21,000
8,
100.14
rl5,000
1312
1943-1961
D.
r49,000
325,000
1943-1952
1308 Rosebud,
1.05
~2~ 13
1—1V2
Rockport,
—.
L98
100.72"
i-4y2
Rifle,
-
lOO.Yo
25,000
35,000
L_—„_J__1 y2
Twp. S. D. 4, Mich.—1'A
Ridgway
-4
^,___t____2I/2-2%
Ala.
100,000
1950-1957
dl75,000
C.
Rensselaer,
1303
.
1942-1951
1942-1953
__
Revere,. Mass.
Richland
2.34
844 000
—3 'A
(2
Con.
1022
N.
110.03
rl70,000
1955-1957
:
Dist.,
Creek
Reems
3.50
1944-1960
J
Free
County
Rd.
Dist.
1.92
Jackson
H.
Prentiss
r\ OS 1
1 -4
100
—1V2
N.
H.
N.
869
1312
S.
1023
r34,000
1942
.
Y.
1.73
1024
Co.,
Dist.,
N.
1953-1965
3
Union
8,
25,000
1_
Pleasaht, W. Va.
Pomeroy, Ohio
No.
1951
1.15
100.05
Sch.
i
Portsmouth,
500,000
1942
2
Colo.
Dist. No.
Springs,
100.28
1952-1961
.
1644* 1968
2'A
County Sch.
Potsdam
100.51
—_2'A-2y2
Wash.
872
101.66"
400,000
1,866,000
.
a
C.
Ech.
~1.34
r45,000
1951
1943 •1949
1942-1946
Me
Minn.
21,
N.
1.35
'
1
1.79
1.11
1.30
Co.
No.
Pierce
1028
•
100.07
100.14
100.30
100.14
Rural
Dist.
1024
34,000
d659,100
' 2,328 "
239,000
Kansas
Oxford,
1023
1942-1946
1961
1942-1951
1942-1961
869
1163
100.14
r65,000
2
Ind.
County
325,000
of
iss.)—,
Iowa
Tail
_—
1-1V*
Idaho," (State of)"—.-,:r__l%
Iowa City, Iowa
_hh_r__.
5
Ithaca, N. Y. (2 iss.)_
__——1
Texas
Otter
1.35
1951
1945 •1952
—3
Iowa
15,000
\
Dak
Co.,
Osage,
1023
Pitman
15,000
1022
(2
r240.000
r359,000
5,000
207,000
5,000
185,000
,
25,000
7,000
—
Co. S..'D. 42, Minn—1%
-Exempted VHlage Sch.'
S.
the Univ.
(State of)
(State of)_
Point
1942-1943
Huron,
of
——
Dist.
Sch.
1161
Ohio k———1 y2
one
The bids being opened
Fla
Co.,- Ohio
Dist.,
C.
Ogunquit Village Corp.,
1303 Olathe, Colo., i___
1028
100
r20,000
1942-1951
1942-1966
.1942-1966
1942-1946
..
1%
4'A
:
County,
C., N.
Iowa"
D.,
C.
N.
Henderson,
Hillsborough
N.
1942-1957
1942-1956
—
1158
and Eng.
Agr.
of
100.14
1942
3y2
College
r500,000
1943 -1950
—1 y2
—_iy*
State
200,000
1953
1942
j.
Miss.
County,
Carolina
1951
1949
Hampshire
1942-1951
FreeSch.
.17, N. Y
1.80
1162
:
$4,000,000. City of Tacoma
& Power Bonds Series A
hundred and ten bond houses.
No.
Albany, Ind..
Bedford, Mass.
New
2.22
d.0»
Union
Hempstead
Dist.
8-3
to
No.
1942
3
—_iy4
1305
Sch. Dist., Texas—3 y4
< Union
-Free
Sch.
28, N. Y.
4
871
D., Pa.__.2y4
Miss.l__2%
Twps. S.
New
'
1942* 1948
..j—iy2
Y.
New
166.56"
Sch.
N. Y.
1.70
Utah.__i____.iy2
Dist.,
1307
1021
-;
rd41,000
112,800
50.000
100,000
1942-1954
3
2-2%
N/ C:
Free
Y.
N.
1165
1162
1158
Sch.
——
Sch.
1027
1024
V
1942-1962
1942-1965
30 yrs.
1942-1951
2%
J.
N.
Union
1,
Smyrna,
Y.
N.
2.
Nebo
No.
Dist.
Central
Unadilla
No.
Hackensack,
3.00
37.000
(3 iss.)—1%-2
City,
Dist.
———
—
1.42
100
D.,
_T_—1.40
1%
Haddonf.eld, N. .J. _^i_____iy2-l3/4
Hampshire, 111.
5
Harding -County, S. Dak
,—2-3
the
of bidders
Sch.-
100.29
3.00
13.000
S:
33,944
No.
1303-Pagosa
—
.
14 yrs.
C.
N.
—
and
D 65
information- relative
Light
D.
Twp.
Dist.
871
reply to numerous inquiries
sale of
S.
Pheasant
100.15
,
rd75,000
30,000
1942-1975
h__
1942-1951
S, D.r Ohio_e —-2
•
Ind. S. D., Te:cas__2y2-3y2
Groton,
Conn.
VA
Guernesey Special School Dist.
No. 20, Ark.
r
3%
Guilford,
Norwich, ..Butternuts
G-een
1.98
1.45
1.23
■
, ; ,
-
Gregory
11-64--Hubbard
:■•
•
"
In
Wvo.
1309
1312
•
1942-1947
1943-1252
1942-1968
1944-1959
4
La.
Goshen, County.
issue of Aug; 30
1312—the
,
'.
Texas
2,
'
1944-1956
—
111.
Co.
2.10
Mount
,107.85;
3.27
>-'"100.12
0.98
I 100
U.-U-L25
44,003
rlO 000
r25 000
24,000-,.
35,000
15,000
10 yrs.
Y.
100.43
.:•/-—
,107.77
25,000;
.
.
1942-1966
1306
v:
,
1942-1950
1947-1948
1944-1961
1943-1952
1942-1951
1946-1948
3'A
2V2
1.90
2ya-3
I
2%
2.20
1311
Wash.
Tacoma,
,
N.
25,000
1159
1.74
,
17," Texas__3y2
'
Minn.
1944-1968
,100.58
3%
Forest,
1162
Mich.
D.,
0.66
Airy, N. C.
100.03
1%
1306
874
on
of
Blum
&
-—
'*100.30
■ 100.14
466 500
35,000
r400,000
20,000
,33,500
22 000
7,384
5,000
100,000
Y.
N.
Ferndale", S.
Aug. 15 by Richards
Spokane, and Ferris
Hardgrbve of Seattle, jointly,
paying
100.025,
a
net
interest
cost of about 2.145%,' divided as
purchased
S. Dak.„3
—iy2
'
2%-3
mS.
__ll/4
„
1335
3.50
Mount
No.
1942-1951 /
—
Euclid,
100
100.10
1308
Dist.,
Twps.* S. D. 3,
h__———3-4
Lake
&
Mich.'.
872
Port of Pasco (P. O.Pasco), Wash,
—
3,000
100.07
300,000
1.94
1.37
500,000
City, N. J.
h;:
100.66
100.27
5,000
1942-1961
Ogden
d290,000
,,
1942-1945
Ocean
;
25,000
30,542
1943-1962
1942-1960
1.90
871
,,
1%
S. D.,
iss.)
(2
1159
2,250,000
1942-1981
N. Y. (2 iss.J-l'A
Rockaway, N. Y. __—
—
1161
1.24
1022
,
.
East Rockaway,
1311
Bonds Sold—A
Sch.
_____
loJ.U3
0.90
,
.
2'/4-3y2
Twp.
Run
1161
30.UJ0
0.45
Sew.
La.
6,
No.
Pike
Parish,
Rouge
Baton
Dist.
19*2-1951
North
230,000
1942-1945 ,,105.000
1245-1949
110,000 - 3-iwu—
1942-1964
' dl, 165,000 ,100.33
rll,000'v he
1842-1G63
5,500
100 '
1942-1946
:
5,000 ..;{i il00
—
Last
iy4
872
1942-1^51
■
111. ——-l^ ,f
111."" L—:
—:
«h*^3
1158 Delaware,
(State of)—
•:
1.10
1303 Dol Norte, Colo.
3y2
*163 Doylestown, Ohio
_he.__
4
"871 Dumont, N. J.
4
1159
1.10
D.,
1022
-----
,
1942-1971
Decatur,
Pa
been
,■>,
1
1.67
100.23
Dakota,
Dakota,
35,000 *
r211,OJO
,
35,998
100.33
8,030
,
16,500
14,500
100.09
•
r28 250_r—
'
17,000
100.12
14,000
______
r58,000i
100.21
rlOO.OOO
100
a30,0C3 •
98.00
8,030
*:
- rl51,000
100
; '
2.000
100.10
; A-. rl2.000- ■ ■ -—1—
1942-1961
4
Sen.
Decatur,
1021
100.21
4,050,000
Miss.
3
874 Morton Ind. Sell. Dist., Texas..4
1312 Montalba
Ind.
S.
D., Texas.—3'/2
1306 Montana
(State of)
0.70
1305
w„_4,
Pla.
1,446 000
1945-1947
Dist., Ohio—_2
Y.
County,
Sell.
Pla.
County
DistS.,
1942-1961
North
100,000
Tax
N.
City S.
1.47
1.70
872
1942-1961
868
Morgan
1163
Spec.
rl,270,000
1942-1951
1.20
iss.)
North
50,300
County
5~ 00
2.92
103.15
Newton
70,000
100,000
100.43
1161
1944-1953
1
Sch.
Dade
Monticello,
Nassau
County'," '
Calif.".1
Crete
1-20 yrs.
lOO"""
1.92
1945-1956
•.
1.40
1,500
Ohio
County,
1159
50,000
12,748
r542,000
1. >2
7 500
100.77
1 %-3V2
2»/4
2V*
Costa
Contra
Montgomery Sch.
1162
1024
J
1-17 yrs.
100.90
100.17
22,500
1942-1946
1.82
Dist.^'Ncb.~-—1%'
Cuyahoga Pails S. D., Ohio——2
867
1307
1164
1306
1.45
1942-1956
1944-1954
0.50
-
Ohio
Monroe
____
162.29
3.44
1.73
0.95
1946-1959
35.000
1942-1951
____l'/2
Minn,
Utah
County, N.
100.04
100.20
103.28
100.13
1943-1950
,
2.07
1942-1966
10..61
IV2
IV*
Ohio
Dist., .Iowa
Columbus,
1163
Minneapolis,
Minneapolis,, Minn, r (2
(State
of)
Minnesota
Nassau
100.31
1944-1952
4
D.i "Mo.
No.
100.87
rd23 000
.
1.30
4.00
5
Murray
rl20,000
—
Park
Clayton S.
872 Coidwater;
Dist.
1956
t
-(State of)
7/8
1308 New Hanover Co., N. C.__—1%-2
1942-1966
1942-1943
1942-1953
1942-1944
1942-1951
1943-1955
Ciarinda
1942-1964
1.84
100.001
100
3
1024
60,000
dll5,000
r400,000
—
Texas
Circievilie,
873
.
Maple School District (P. O. Mt.
Vernon) Wash.
:
Okla.
D.,
2
iy2
4
1,
27,003
1942-1946
1951-1974
1942-1946
j-:
-
1311
7,500
16,030
—
—
1943-1949
Ore
111.
1166
1942-1953
1%
1159 Caldwell
-—4
1162 Canton, N. :C.'.^-L——
2
1306 Carlton Co. S.
D. 3, Minn.——3
1304 Carthace, III. _—_—J
3
1023 Cass County,
Minn. -L,
3 1;
1163-Cathlament, Wash, c
2V2
Ca.dweii
2'A
23,
2.00
rl2,000
'
1021
Au^rized—It is report*
Commissioners
3
1
3
•
25,000
2'/2
Dist.
1942-1954
1943-1961
1943-1951
-
Texas
Mien.
Lake, Minn.
1166 Da/id_on County,* Tenn
Wash.)
O. Seattle,
(P.
Bonds
Mass.
Con
1305
Dists.,
...:-:UJ2
Minn.
Conn.
1312
;
:__3y4-3>/2
___l3/4
--1
0.50
Calif.
Breckenridge,
868
King County Drainage and Irriga¬
tion
Improvement District No.
—
;7.00J .;•••'i—T—
d50,000
„
1942-1960
1943-1958
1943-1961
675,000
1942-1965
___4
.
1024
102.29
103
100
_
1945-1947
l'A-lV-j
1025
2
1
IV2
Ohio
Dist.,
ytan
Brawiey,
city is plan¬
bonds.
water
Rural S.
1306
Pending
$18,000
issue
to
Ash
Elder
1158
1304
Wash.
that the
understand
Rural S. D.,
Bo::
872
(WASHINGTON
•
rd377,000
200,030
4,735
d75,0U0
23,200
101.50
1942-1957
—
102.29
:—-
,-3'A
2
v ;
Ohio
Ash
1028
*
2.50
21,000
Texas
1161
874
.
Blue
1162
for
Offered
Bonds
Sept.'
Due: on
1957 incl. '
to
7r:r
100
105
r754,000
1941-1957
1958-1963
1942-1951
1942-1946
1943-1970
—
Ky.
1160
a
Sept.
in
and
Chicago,
100
1.93
1943-1961
Te/.as
1023
3.00
i',?
3.11
6" 78
100.52
Texas
County Rd.
Mineola,
100.05
100
20,000
166.Y3"
Tenn.
Medina
1023
3.75
120,000
Pa.
1026
35,003
6,000
—
i"-
:____
Iowa
Di3t,
Eloomfleld,.
Co.
102.28
r54,030
(160,000
1021 Blandinsville Township," 111.——3Vi
1304
Medina,
Meredosia,
3./5
0.89
100
100
1 15,500
Onio
Mechanicsburg,
1028
Blairsburg Consolidated Sch.
,_
Maume,
0.90
-
—4
Bi.cn
1022
cou¬
726—were awarded to
composed of Goldman,
Sachs & Co. of New York, Paul
1942-1951
1943-r958
1J42-1956
1942-1948
—2
4
j.
L306
semi-ann. public improvement
offered for sale on Sept.
&
La.
Rouge,
D.
"VTJ
1942-1951
,
S.
1158
3,200
30,000
90,000
d3,000
20 yrs.
.—4
—-V/4-V/2
___
Bergholz,- Ohio"
872
Va.>
bonds
Davis
—
Co.
—
——
8,000
10,000
1943-1955
Y—1.80
N.
of)
(State
Malhuer
874
—
1942-1951
1942-1951
D. 3,
S.
F.a.
1021
.
H.
100.50
:
•
County,
Twp.
Avon
1166
Legal
Bond
338,000
' 2,500
100,000
D.,
S.
Aspermont
Atc.iinson
i305
opinion of Caldwell
& Raymond of New York.
;\
pon
1942-1951
10 yrs.
Texas___—_3
Kan.
___l3/4
Mien.
-3-3%
.Ba.linger,
Texas
2'A-21/2
Barnwell County, S. C.
;
2Va
Barron, Wis.
1_——
~_3'/2
(2 iss.)
3'/2-3%
Bartow, Pla.
1166
bonds.
Twp.
D.,
872
;
,
1942-1949
*
4
S.
1311
100.89
lT74
___2
Allen
Louisiana
1165
100.43.
-2>A
Texas__3%
—M
-l'/a
_i
Kan.
1159
incl.
800,000
1
4
33.
Arkansas
1311
on
1942-1961
S
D.
Co.
bids
Sealed
untill
S.
Anderson
1022
p.m.
Due
1.60
S.D., Pa.
S. D., Texas
Ind.,
1311
(EST), on Sept. 17, by Robert S
Marshall, Jr., Executive-Director,
for the purchase of $133,000 semiann.
r910,988
Md
County,
Allegany
1943-1952
2.25
166.666
Calif
2
Sch.
Disc.,
Dist.,
County,
Ind.
2.10
Maturity
-2y4
Anchorage,
Alaska
1311 Anderson Co., Tenn.
Authority
—
Park
Mabank
Basis
Price
Amount
Rate
•867
Offering
Ark.
Angeles
13il
August were as follows:
Ohio
Akron
872
•
Bond
376,
20 yrs.
1942-1960
__
Basis
22,000
12,000
Price
100
Dist.
Imp.
Pa.
869
Name
Page
1311
O. Alexandria),
Dak
Lake
Lower
1311
Housing
No.
1950-1971
1943-la58
3%
Texas
D.,
Street
Rock
1165
Issues sold during
VBEGIKIA
•
S.
1312
v
'
Little
Loon
of the current year.
___,
1020
Los
1159
Alexandria
Iowa
Lexington
Lidgerwood, N.
1307
optional after 10 years."';.
(P.
32 in Section 2 of tne issue of the
page
on
Leon,
1312
7,000
u_2y4
___3%
_______1%
Utah
1163
1158
Fort Worth, as 2y2S and 3s. Dated
Sept.
tabular record of the individual municipal bond
August.
A review of the montu's oper¬
a
published
as
amount
of
Co.
Town.,
Cnronicle aated Sept. 4,
at
Edwards
N.
Latona
Atnount
Maturity
Rate
„
Mont,
awards for the month was
that time, 786
were
purchased by
voters
Laurel,
1028
issues brought out during
1312—were approved
p.
Municipal Issues During August
"
Name
870
869
ty Auditor states that the $25,000
airport bonds sold subject to the
outcome of, the Aug. 28 election
—v.
41
Page
Wilbarger County (P. O. Vernon),
'
•
vv, w at m py»v ■
FINANCIAL CHRONICLE
Number 3977
1
</ wwmpww/j»ti «• nwr>">.
4V2
5,000
103
2.75
,
>
42
CHRONICLE ;
FINANCIAL
Page
Name
1024
Bolton,
Stony
Cen.
1310
Creek
Sch.
Waycross,
1022
Weston,
White,
Dak.
S.
1162
Whitehall,
1159
Wichita,
1159
Wichita,
Kan.
1027
WJllakenzie
Ore.
Williams
Wilmont,
Wolf
1311
Dist.
Woodsflcld,
Wyandotte,
Mich.
Yates
City, 111.
1028 Yoakum,
Texas
bond
100.05
0.99
1942-1954
3.00
d
Optional.
States
281
1942-1951
ii-
1942-1946
4
3.42
100.11
129,000
r383,000
for -August
u—._
.•;'•■
The Sinking
0.71
v_'—J■ rih-k:
12.000
——_
h.—_
issues)——I 43,477,722
*
-
ed
curred in
the
Company
obtained
r
by
Refunding
Name'
874
Chamberlain,
873
Jenkintown
874
Jones
869
Lake
S.
Sch.
1027
Lane
Madison
Rate
Price
Amount
Maturity
IV2
1943-1947
—_
Basis
15,000
100.66
.101.42
Medina,
S.
1946-1961
28.000
1-15 yrs.
1947-1950
rt60,000
101.28
'1942-1951
10,000
160.000
101.78
1942-1946
200.000
1-20 yrs.
65,000
S.
No.
Dis.,
York
_1%
Iowa
D„
17.000
1943-1958
r400.000
100.05
Plan
100.17
2.97
100.63
1.14
(Jan.)_3
—^r—_1%
All of the above sales
1942-1951
1.52
101.85
48.000
The third
Bramhall
should be eliminated from the
the issue of
our
have
Plan
in which
paper
for these eliminations
reasons
No.
1312
Carson
(July)
(July)
Texas
Co.,
1020 Willcox,
Ariz.
SOLD
Plan
CANADIAN
BY
Fort
William,
874
of_——
1942-1951
1.75%
874
1166
Total
and
1943-1946
!>'■
v':
1,759,217
west
No.
4"'4
4..;/44:4
ALBERTA •:
1st
A
—
sale
of
4
Now Total
defaulted
$18,Sep¬
on
on
Province will continue to pay in¬
terest at one-half of the coupon
rate, it
the City
.1'.
said.
was
.
J
.
The. Financial Post of Toronto
;
Sealed
—
until
4:30
bids
p.m.
government will open
negotiar
tions Sept. 16 toward evolving a
plan for refunding the province's
on
debt.
ever,
not
to
exceed
4%
semi-ann.
Denom.
1941.
is not expected,;, how¬
plan will be agreed upon
.
in time to take
$1,000.
Due
It
a
sues
on
ter
care
maturing this
of the two is¬
year.
These latr
aggregate $3,600,000.
.
Worland, Wyo.
voters
p.
state
2,
local
Co.
improve¬
for
sale
Sept.
on
1166—were
3—v.
awarded
to
issue
ially
the
Mills,
—
Toronto
of
have
at
Que.
Spence
improve¬
price of
a
&
purchased
$43,000 4%
bonds
basis of
a
153,
Sale
of
an
Valleyfield,
de
about 3.58%.
103.93,
Due
ser¬
Nov. 1 from 1941 to 1960
on
incl.
Casper National Bank of Casper,
by
>
associates,
4s
as
at
par,
Sept.
1
1941.
callable
for
Due
in
payment
10
on
Valleyfield,
ac¬
Bond
cording to the Town Clerk. Dated
issuance
the
approve
No.
ment coupon semi-ann. bonds off-' ment
and
is
Bond
Sale—The $86,000 Paving
District
Va.
Voted—It
Salaberry
,.
'
2
QUEBEC
wyoming
1%%
virginia
W.
Bonds
the
for month.
tember
444'• :4;y4'i
Offered
received
1%%
Harry Andersen, Clerk
of
the
County Clerk, that an election
held on Aug. 8 resulted in
haying
1,416,000
not included in total
loan;
Temporary
3.12
188,000
1941.
28
605,200 —The- Provihce
approved by
refunding bonds.
Dated
Sept.
1,
Sept. 1, 1958.
Raleigh County (P. O. Bcckley),
3.55
102.65
116,400
sold in August
long-term Canadian debs,
4
Basis
*500,000
1942-1956
Ont.
Wis
Clerk, for the purchase of $43,-'
ered
99.77
Nov.
Alberta (Province of)
:
000
that of
Seattle
; '
Price
38,817
1942
lVs-lVi
—(.-3V2
Hull,
Que.
——
-4 V2
Manitoba, Province of (2 iss.)_3-3V2
Hespeler,
AUGUST
*40,000,000
__
——_3V2
Ont,
Ont.
IN
—
Amount
Maturity
Rate
Dominion
Canada,
874
8t4 Hamilton,
MUNICIPALITIES
0.4;■'%
1
Sept. 4, by Nelson C. Hall, District
First—$650,000, 4%
Second—$1,800,000, 1%%
Balance—$1,550,000, 1%%
____
i
due
reported as follows:
*
Bay School District No.\
yi Bond holders / representatives
(P. O. Milwaukee), Wis. ; "j
and the treasury
board of the
1
■
'
Balance—$ 1,550,000
Basis
75,000
April
on
1444^444
The City Clerk
—
recently.
Bonds
1
$650,000, 4%
Second—$1,800,000
may
Price
100,000
________
Name
Page
Amount
________
__—
DEBENTURES
1166
Maturity
incl.
Durand,
been
Bond
Rate
Name
and
White fish
be found:
Page
1941
First
totals for the previous month
We give the page number of
our
same.
1.75% *
was
of
$40,000,000 Treasury bills was
on
; Aug.
28 at am average
cost of 0.551%.
Dated Aug. 29
sold
.
Vyj
follows;
are
RFC and PWA loans) for that month $54,844,829.
or
who
2
bid
Stein
as
for July
These additional issues will make the total sales (not includ¬
following items included in
best
&
associates
(unless otherwise indicated)
No.
of
Town
$104,000 .refunding bonds to the
City Water Department is said to
1
First—$650,000, 2%
Balance—-$3,350,000,
2.62
10.000
The
of
were
1947-1951
ing temporary
associates
«.
.
Corporation
No.
$1,000
1947
Approved
Council,
Plan
1.84
1943-1952
Sandusky, Ohio
Washington Co., Iowa
1941.
and
due
to
fA Bonds
______
Upper
869
2
follows:
as
!r
issue
$2,250,stages
that
$50,000: municipal 000 bonds, increasing • its total
building bonds have been sold re¬ bond defaults since 1936 to $18,605,200, according to report. The
cently. ; 4.■ .■ V?-'''4 • 4
bonds due on Sept. 1 carry 6%
interest and were sold in 1921 for
;;V: Kenosha, Wis.
general revenue purposes.
The
&
that
of)
Sold—An
to
4 Bonds Sold
No.
No.
was
First—$650,000, 2%
Balance—$3,350,000,
1.3'
18,
Ohio.2
Mich.____0.75-3
—_2%
D„
Con.
New
bid
1942
(Dominion
Bills
Bond Defaults
100.08
Dist.
Sch.
Ohio
Roland
Plan
Securities
*
Park-Shaughnessy
Co:/-.bL Minneapolis——-v. • 153 p.
i
therefore
Nuveen
bid
sold
■:
100.54
127,500
_
_
Royal Oak City S. D., Mich._2>/2-3
870
1310
Union
1.11
1V*
Pa.—.
,
Sell.
Rural
the
best
next
Wis. f'
Details—The
"f:.,
1.33
1 %
Dlst.,
Ind.
County
Marysville
1304
oc¬
their
on
Sale
1166—are
Plan
on
was
John
to
Barron,
;
in
bid, which provided the callable
from January 1952 on.
;1'
of
i '
-
Texas
Ore.
1026
following additional sales which
1_—2V2
County,
County,
1026
870
•
Dak.
Treasury
bonds
v';'".
Canada
v!
Wisconsin
Clerk states that the $6,000 3 V2 %
road ; } improvement
Fund Board elect¬
same
construction
i: ■■ •'^
-
semi-ann.
feature
The
previous months:
Page
2
sell the bonds
to
and
2
.
bonds.
We have also learned of the
No.
school
.
4'•v •'"■
'
fI; Bond
■■
..
k Not including' 171.591,-571 ' temporary • loans or funds
municipalities from agencies of the Federal Government,
and
$571,000
bonds.:-:
•>'"
•
••
First—$1,425,000, 3 %
Balance—$2,575,000, 1
Premium—$101.00
\
'
r48,500
" -.i—-•55,000
"
separate
I
No.
Plan
2.11
consumated
covering
follows:
as
First—$1,425,000, 3 %
V
Balance—$2,575,000, V/2%
Premium—$121.00. '.'.
; J
5,000
Kan.
3'/4-3y2
—_
100.87
12,500
iss.)„-2-3%
1942-1977
(250 municipalities,
(2
Plan
~3?6b
r300,000
iss.)_L_j_0.75
—-
sales
7125,000
—
—
(2
0.99
——2%
;
Dist.,
Ohio
1306
1158
1.23
100.05
of
1
.
—
Drain.
100
100.03
80.118
1942-1951
2Vi
Dak.
Minn.
iss.)
Total
13,000
34,000
:
NuveerY&
6,
No.
-—
N.
Co.,
100
John
bid
who
100
d2,500
.
1942-1945
1942-1951
1
1
sociates
0.72
rl59,000
•
1942-1951
Vk
—
*.
Sch.
River
(2
iss.)
(2
—w———
—
1308
1161
869
Y.
N.
100.15
55,000
..
,
1943-1965
1
—3
—
Kan.
1942-1951
0.75
1—3
-
102.94
.103,000
v
1.71
OO
50,000
C..;V-»w-^».w3%-5%
Ohio
100.53
336.000
Page;: 41)
from
of
that
was
Saturday, September 6, 1941
Company of Chicago represented
,by Mr. D. C. Prescott of Hartley
Rogers & Co., of Seattle and as¬
>.
1942-1971
—1,
.——.J.
S.
Salem,
(Continued
bid
.......
*
Mass.
Westminster,
West
v
N. Y._l%
—4
1,
Ga.
1027
1166
Johnsburg
No.
Ohio
1165
Amount
1
.
Basis
Horlcon,
and
Dist.
Waynesfield,
1021
Chester,
Caldwell,
Maturity
«Ratej.
v
Warrensburgv ThUrman,
Price
Que.
Sale—Mills, Spence & Co.
of Toronto have purchased an ise
of $43,000 4%
improvement
years;
sue
Sept. 1, bonds
in any year.
of
at
price of 100.93.
a
about
3.93%.
Due in
basis
a
1960.
Weekly Statement of Resources and Liabilities of iho 12 Federal Reserve B anks at Close of Business Sept. 3,1941
Three
Ciphers
Federal
:■
cash*
Other
Total
hand
on
Kansas
Total
at—
Boston
New York
Philadelphia
Cleveland
1,316,772
1,609,320
Atlanta
731,463
491,857
3,361,962
544,860
1.269
913
559
; 33,476
13,366
5,382
U.
S.
Treasury_____
20,299,032
1,145,589
.15,146
V
4,916
notes
235,953
8,500,728
•
903
21,770
20,550,131
1,172,275
*___——________
reserves
Secured by U.
Total
2,197
10,222
bills discounted
Industrial
12,419
;
advances
Govt,
S.
S. Govt, obligations, direct and guaranteed.
discounted
bills
Other
yy- v:^
1,069
55,761
15,169
8,557,392
13.838
.
1,333,010'
975
,
1,136
491
;
9,765
20,721
' 742,364
513,069
35
/
St. Louis
Chicago
$
y
.
...
,
'
Minneapolis
$
20
,/
1,624,133
-Jw-i-/;'1-.."
:
.-i'
■
9,297
1,447
-
'•
26'
yyyai'LUy yy.yyvd,-;
y
10,967
84
1,183
■
V'-—— /.
9,681
58
1,670
■
•
100
3,396,707
$%;
$
360,833
^
559,139
/
$
738
<
J 11,061
10,778
/
498,272
347,843
yy
268
99,286
384,113
107,301
59,719
231,036
64,541
85,348
U.
Govt,
S.
securities,
direct
and guaranteed
615,149
171,842
227,243
627,299
175,651
2,184,100
securities-——--—.—1_—-
and
159,005
2,206,200
160,452
;y'/;"47
3
x,
Fed.
notes
Res.
banks
foreign
Uncollected
Bank
of
————————;
other banks
5
37,002
1,176
5,308
78,998
194,944
2,796
10,262
4,827
13,727
40,588
51,364
;yyyv
assets
"f-
■'
/ •■
23,818,850
3,498
1,419,198
-
4
4,310
—
assets
Total
-^yy'Vi.
18
933,518
—
items
premises
Other
$
,1.690
24,866
.
1,439,153
154
86
542
83
161
329
■/
U.
notes
In
actual
circulatiofi
1,429
v
9,408,950
■
120.712
1,576,577
4,488
'
;;
166.999
65,886
38,477
100,446
39,630
23,144
92,061
267,445 ;
105,516
,92,286
267,798
105,599
•/-. / 2
6
1
" 11*663
V
'
.120,524
;
yyyya.;,
66,280
53,594
39,864
32,235
64,817
61,621 V " 106,144
85,829
172,582
62,240
•
'•
,
1
10,950
>
89,330
.
2,740
5,762
3,044
1,984,142
968,954
2,648
.
...
43,680
y;:
3,016
1
.y
133.147
;V
1
1,993 '
2,713
2.294
1,348
2,916
2,389
1,481
2,469
727,797
•
,
7,117,836
595,136
1,858,150
495,115
676,726
352,741
237,498
account
Deferred
Other
630,932
6,048,717
783,759
937,599
439,098
294,284
1,842,156
»
31.240
V. 187,862
55,489
445,793
7,295
681,726
deposits
Total
15,426,529
availability
items
incl.
liabilities,
divs
1
180,359
236,713
•114,958
597,215
322,849
.',168.790 '
297,320
251,300
867,51!
.
liabilities
Commitments
"Other
to
and
724,956
make
cash"
90,403
20.703
-.25,174
100,881
31,414
46,392
37.007
29,636
25,57!
104,477
48,832
39,747
136,274
34,069
24,984
32.933
32,933
86,32!
568,998
14,824
27,734
6,621
7,813
5,465
8,008
5,710
2,407
760
7,251,370
990,912
1,160,213
515,254
367,018
2,084,776
396,340
245,876
369,667
314,629
1.005,518
44,988
V
J-
•
-
26.091
55,749
112,673
84,622
37,554
168,961
54,216
23,425
39,359
33,953
758
276
292
320
96
299
119
120
134
135
175
1,542,052
1,949,904
952,937
642,166
3,761,992
715,941
645,873
463,675
1,647,899
1,393,618
9,280,295
9,351
51,698
10,906
56,447
26,785
2,874
47,898
accounts
industrial
not
•
170,017
;
does
!
356
—
capital
.
82,174
157,065
13-b)
capital accounts
Total
-1,675,596
657,189
•
449,780
-
accounts
(Section 7)
(Section
475,146
459,478 1
110,155
140,970
Surplus
4,47^
73,170
23,446,132
Capital paid in
Surplus
2,79i
2,005
"
3,080
—
liabilities
capital
53,319
V-' 1,166
898,687
—
_____
accrued
4
y. 3.043
36,598 '
<
■
265,266
1,507,956
708,465
account
reserve
172,811
"y
1
710
43",749
3,809,707
655,816
25,642
6,036
.
56,054
2,997
1,963 V
2,168"
2,321
V
107,765
V 86,623
107,069
,,
.
12,884,323
l_
—
deposits
Total
164.
■y" >'•/'/
Foreign
Other
7}
298
'.v./
1,695
57,345
57,484
34,577
1,152,015
bank
Treasurer—General
S.
65
'
831;
Deposits:
Member
696
y., 94 ;■
...458 \
44,943.
liabilities
R.
u
&
86
24
; 161
75
56
74,720
227,648
V
from
'27
4
817 "*
141,895
820,300
_
bills
Total
*
-
1.412,S97
securities, direct and guaranteed:
■:
Total
Other
•-
336,327
487
'
v
Francisco
486,724
•:
366,774
"
San
Dallas
City
24
44
-'V44
yy.'/ yy; 137
3,725
1,363,800
Notes
F.
'
discounted:
Bills
Due
Richmond
$"'
and due .from
fund—Fed.s Res.
Redemption
U.
Agent
asset3
certificates
Gold
Omitted
(000)
Reserve
advances—
include
23,818,850
Federal Reserve
2,449
1,419,198
12,872
notes,
f Less
than
1,064
$500.
11,907
14,603
5,538
4,840
15,083
4,348
-
3,002
4,286
11,764
15,144
14,323
5.247
5,725
22,824
4,925
;
3,152
3.613
3,974
7,070
10,785
4,393
1,007
3,244
713
1,429
533
1,000/
1,138
1,263
13,440
3,081
2,121
4,605
1,988
2,372
8,379
2,050
2,544
2,015
1,948
3,027
9,408,950
1,576,577
1,984,442
968,954
655,816
3,809,707
727,797
459,478
657,189
475,146
1,675,596
722
28
587
524
>
2.066
'
1,246
766
899
1,500
-
4,550..
"
'
\
69
'
3,401
.
43
CHRONICLE
FINANCIAL
Number 3977
Volume 154
Condition of the Federal Reserve Bank
Federal Reserve Note Statement
Three
New
Total
of— V;
Bank
Reserve
Boston
Bhiia-
York
Omitted
(000.)
Ciphers
Federal
delphia
land
apolis
Chicago St.Louis
Atlanta
mond
■'
of New York
San
Minne- Kansas
Rich-
Cleve¬
F'risco
Dallas
City
The
$ ■••;.'
notes:
Reserve
$ ■;"•.
$
$
$
■'■■;>. $ •
$ :'r"; $
Issued to
F.'R. Bank by F.
: ■■'■■■/;^
,
R
Agents
7,442,406 618,610 1,937,342 515,016 702,750
Held by
Federal Reserve tk.
324,570-23,482
79,192 ~ 19,901
26,024
In
actual circulation
7,117,836 595,136 1,858,150 -495,115 676,726
Collateral held by agent as se'
curicy lor notes issued to
/■' xf?"*
Federal
.
$
$
$
$
,,
$
125,423 653,130
10,465 55,912
114,958 597,218
375,378 258,998 1,540,579 283,396 185,407 246,369
22,637 21,500
32,623
18,130
5,048
9,656
352,741 237,498 1,507,956 265,266 180,359 236,713
v/;'. ■■■,:,
certificates
Gold
S.
U.
from
aue
Eligible
paper
hand
on
and
520,000
1,940,000
635,000
7 556,000
Treasury.
11,253
——
10,882
635,000
1,950,882
520,064
—35
A
CCfxf-C
.1;.
,'P
'u-;~
•
250,000 129,000 664,000
88
157
00
189,157 250,088 129,000 664,000
299,027
1,560,000
certificates
from
189,000
27
—■-,...■
265,000
400,035
705,000
299,000
1,560,000
400,000 265,000
705,000
64
7,567,253
—_
U.
S.
Other
,
$
Reserve System ;
—
65,486,000
85,611,000
8,557,392,000
notes
R.
8,626,707,000
9,231,280,000
reserves
of the Federal Reserve System on Thursday afternoon,
Sept. 4, showing the condition of the 12 Reserve banks at the close of business on Wednesday.
Tne first table
presents the results for the System as a whole in comparison with the figures for the eight preceding weeks and
witn those of the corresponding week last year.
The second table snows the resources and liabilities separately
for each of the 12 banks.
The Federal Reserve note statement (third table following) gives details regarding
transactions in Federal Reserve notes between the Reserve agents and the Federal Reserve banks.
issued by the Board of Governors
The following was
bills
Sept. 3
Aug. 27
1941
ly4l
Omitted
2,685,00.)
3,455,000
1,183,000
1,183,000
1,804,000
384,113,000
384,113,000
403,662,000
231,036,000
231,036,000
311,334,000
guaranteed—
615,149,000
615,149,000
744,996,000
securities
027,299,000
6*5,134,000
foreign banks
___
notes of other banks
18,000
18,000
750,255,000
18,000
5,308,000
3,278,000
1,924,000
194.944.OUO
10,262,000
244,049,000
141,420,000
10,280,000
9,767,000
13,7*7,000
13,505,000
17,942,000
Industrial
advances
ctfs.
Gold
$
$
-
and* guaranteed:
U. S. Treas.t
20,299,532
20,299,032
,
20,299,532
(Fed.
fund
20,300,529
20,307,532
20,302,531
20,302,533
1940
____,
:
Total U. S. Govt,
20,310,531
11,398
16,229
16,657
/ 16,657
16,271
268,243
293,232
322,814
274,705
279,984
252,279
235,953
274,639
TotaLreserves'—20,550,131
20,589,648
20,590,400
20,597,170
20,585,431
20,612,036
20,573,363
18,965,509
discounted:
Bills
'
—
cash"
Other
15,146
—
*'
"
-
•
.
-
930
1,823
1,366
1,868
1,489
2,728
2,296
3,357
5,534
9,853
9,807
9,352
*
10,380
8,289
9,962
5,383
9,681
9,563
9,586
9,270
9,448
9,930
1,363,800
1,363,800
1,363,800
1.363,800
1,363,800
820,300
820,300
1,363,800
? 820,300
820,300
820,300
820,300
1,318,600
l,llo, 000
2,184,100"
2,184,100
2,184,100
2.184,100
2,184,100
2,184,100
guaranteed.
direct and
bills
Total
2,201,975
2,203,332
2,198,937
sec. "'li
and
from
Fed.
37,002
Bank
deposns
premises'
Other
'
:
33,305
40,641
1,363,800
-
7
1,002,878
40,456
wm
•
29,911
936,334
30,130
-881,425
1,120,507
895,591
663,569
40,296
40,429
40,444
40,175
41,307
26,338
880,483
40,417
21,221
29,503
,
.
49,359
48,898
48,189
47,601
46,641
45,896
45,283
61,230
23,924,248
23,783,594
23,806,433
23,861,917
24,036,227
23,780,771
22,200,662
23,818,850
' 6,906,411 - 6,903,785
6,829,182
6,771,077
6,774,078
6,797,124
5,390,785
12,951,427
13,096,940
13,117,089
13,223,032
.12,971,077
13,523,861
849,372
1,038,545
1,191,575
7,006,926
6,952,605
12,997,655
13,037,470
12,947,724
772,074
785,344
919,425
1,152,699
689,923
1,202,872
631,830
1,194,306
621,665
1,201,653
663,688
604,411
593,544
607,199
564,481
15,612,351
15,657,516
15,656,082
15,766,437
15,830,172
15,864,719
918,845
848,354
835,032
885,278
1,022,766
15,765,678
843,364
3,315
2,931
3,231
2,704
3,033
2,658
2,115
2,229
7,377,903,000
18j,0*7,000
8,457,754,000
122,842,009
794,000
678,000
;
—L_
23,500,511
1,152,015
681,726
——
—_
items
23,531,897
23,551,539
23,410,925
23,433,684.
23,489,185
23,663,678
23,408,395
21,840,442
140,933
140,911
140,894
140,889
140,578
137,586
157,065
157,065
157,065
140,797
157,065
157,065
151,720
,26,785
26,785
26,785
47,908
48,005
'
15,426,529
898,687
—
incl. accrued
3,080
.
liabilities
23,446,132
—
758,000
•,
and
liabilities
total
ue-
liabil¬
note
93.7%
524,000
,
140,970
140,942
140,868
157,065
157,035
157,065
26,785
23,785
47,898
Feaeral
The^e
banx
Reserve
uoteo.
given by the United States Treasury for the
cerviiicates
are
tne ooimr was, on Jan,'
10J cents to 09.06 cents, these certiiicates be¬
19*4, devaiueu from
extent of the tunerence, tne duterence itselfnavlng been appropriate.* as profit by tne ireaoury unuer tne provi¬
sions of the Goid Reserve Act of 19*4.
•':
^
less
worth
ing
the
to
47,959
26,(83
47,931
■
47,926
,
1,185,116
V;'*-i,--
:
791,182
997,016
512,525
Discount Rales of the Federal
Reserve Banks
621,720
have been
There
varices
■157,065
26,785
26,785
26,785
26,839
47,993
S
47,902
47,948
of
the
to
rates
effect for
in
now
obligations
44,075
Fed.
curities—
1-15
/
16-30
22,200,662
91.0%
91.2%
York
11,950
11,393
11,697
12,810
13,058
13,078
Cleveland
May
11,
1935
8,192
12,432
2
1 Va
Aug 27,
1937
/a;-
*\Vz
Aug 21,
1937
2
»lVa
Aug 21,
1937
2
nVa,
Sep
2,
1937
2
2
2
Chicago
7,212
8,223
—
1,481
1,953
—
"
217
1,175
-
101
3
721
559
737
104
118
20
-
276
-776
1,732
•
.
'•'■
2,870
3,806
122
2,236
94
'
551;
681
906
.,98
<
3,477
3,783
8,172
5,562
1,343
683
957
12,419
days
ind. adv. ______
31-60 days ind. adv..
61-90 days irid.' advr
Over 90 days ind. adv.
_
10,380
2,336
T;
ndv.-_——i
ind:
2,202
8,289
2,209
391
343
360
s'r
173
■
242
v'
122
—
.
_
323
Louis
St.
42
81
686
20
449
Kansas
Aug 24,
Sep
3,
1937
Aug
31,
1937
l'/a
Minneapolis
105
1937
"l'/a
93
143
-
477
—
—
——
Sep
3,
1937
l'/a
_—
"l'/a
City
236
295
264
270
9,962
5.389
4,560
2,728
2,296
3,357
5,534
1,969
1,929
2,283
2,072
1,515
1,524
1,596
381
323
325
309
754
696
209
Sept. 1, 1939, Chicago; Sept. 16,
193
163
V
256
S.
'
•
industrial
1.61
;
266
•
Dallas
Francisco
5,767
9,681
— _ _
and. guaranteed:
days
days
•31-60
*
—-
days
16-30
286
866
620
5,878
5,895
6,014
9,563
-
;
I 9,586
"9,270
301
228
1,225
1,124
9,448
5,920
;
9,930
1,386
977
6,019
5,97i
5,962
9,853
278
938
^ 5,957,
181
9,807
9,352
"Advances
_—
Discount Rales of
8,645
——_
'
■
have been
There
Over
Total U.
—
2,184,100
2,184,100
$2,184,100
$2,184,100
2,184,100
2,104,100
2,184,100
of the foreign central banks.
at the leading; centers are snown in the
guaranteed—
2,184,100
2,184,100
2,184,100
2,433,600
Present
rates
table which follows:
S. Govt, securities
direct- and
2,184,100
$2,184,100
$2,104,100
$2,184,100
$2,184,100
$2,184,100
$2,184,100
$2,184,100
$2,433,600
Issued
F.
Held
In
to
Reserve Notes—
Fed.
..
f
——7,442,406
_—
•> 324,570
R.
Agent
by
Fed. Res. Bank
actual
Argentina
Res. Bank by
circulation
—
$7,117,836
7,362,287
7,300,458
7,264,985
7,247 373
7,179,380
7,150,196
7,138,328
7,113,287
5,639,131
355,361
347,853
358,574
344,088
350,198
379,119
364,250
316,163
248,346
Belgium
$7,006,926
$6,952,605
$6,906,411
$6,903,785 $6,829,182
$6,771,077 $6,774,078 $6;797,124
$5,390,785
Chile
-
—
_
Bulgaria
Canada
Date
Effect
__
__
Colombia
3'/a Mar
__
1,
1936
Jiwi.'
2 Va
Sept. 5
___
Security
to
:
Held by. Agent, as
for Notes issued
bank—
from
on
eligible paper
Total
collateral
_
__
—:__
—
7,556,000
11,253
-"$7,567,253
7,490,000
;\ 9,281
$7,499,281
7,430,000
7,382,000
7.372,000
7,513
9,253
4,711
7,305.500
3,937
7,305,500
-v
7,293,500
2,204
7,243,500
5,739,500
4,200
3,037
1,801
Erie
_
India
2
Jan
5,
5
Dec
1,
1940
6
Italy
ftiar
li,
xbou
3
Dec
16,
1936
4
Java
England
__
_
Estonia
$7,437,513
$7,391,253
$7,376,711 $7,209,437
$7,307,704 $7,295,301 $7,246,537 $5,743,700
__
_
Finland
France
cash" does not include Federal Reserve notes.
certificates given by the United States Treasury for the gold taken
devalued fl'bm 100 cents to 59.00 cents on Jan. 31, 1934, these certificates being
ence
itself having been appropriated as profit by the Treasury under
*
"Other
tThese
are
banks
worth less to the extent of the
provisions of the Gold Reserve Act of 1934.
over from the Reserve
when
the
difference,
dollar
the
was
differ-
Greece.
Holland
*
Not
—
_
__
—
__
—
—
„
__
-
Rate
4
Jly
18,
1933
5
Lithuania
3
Jan
1,
1936
3'/a
Morocco
4
Jan
2.
1937
5
Norway
Poland
Oct
22,
1940 4
Nov
28,
1935 3'/a
4 Va May
3.29 Apr
Japan
18, 1936 5
7, 1936 3.65
1937
4
3
4
—
Germany
•
__
__
Denmark
hand and due
U. S. Treasury —'
Gold- ctfs.
By
vakia
Danzig
vious
3
3
Hungary
__
Czechoslo¬
Collateral
Date
Effective
Effect
Country
Kate
1940
-2'/2
_
.
vious
Effective
5
Pre- >
Rate in
Pre-
Rate in
Country
Sept.
Federal
changes during the week in the
no
rates of any
discount
•
_
Foreign
Gentral Banks
—-
—
.
„
a rate of 1%, effective
1939, Atlanta, Kansas City and Dahas;
<6,419
;
days
90 days-
.2
258
/
'
61-90
,,
obligations bear
Government
on
securities, direct
Govt,
1-15
adv..
:
2
Sept, 21, 1939, St. Louis.
,155.;
898
984 •
■V-
*
Total
♦
U.
2
Sep
.
_
Atlanta
bills
days
lVa
1937
l'/a
Philadelphia
San
Total
19J7
4,
—
1-15
l'/a
1939
-
l'/a
of
—1——
61-90 days bills 1.
:
*_
Over 90 days bills
__
16-30
Rate
1,
Aug 27,
1
—.
_
Previous
Estaolished
Sep
89.4%
91.2%
Banks
Date
Effect
Sept. 5
Boston
Se¬
bills'
days
23,861,917 24,036,227 23,780,771
91.2%
912%
91.2%
91.1%
.
_L;
bills
days
31-60
23,806,433
23,783,594
classes of paper
the various
banks:
Richmond
12,928
12,872
—
\
day3 bills
91.0%
91.2%
Short-Term
and
Bills
23,924,248
New
_
Distribution
Maturity
23,904,546
make
to
advances
industrial
■
23,873,262
•
Res.
combined
liabil.
note
23,818,850
to de-
Banks
in the
schedule'
snown
is the
Rates of Federal Reserve
Discount
Reserve
are
The following
table.
different Reserve
tne
ac
changes this week in the redis¬
Reserve banks; recent ad-'
no
Federal
tne
Government
on
footnote
-*, > '•
of
rates
count
Federal
accounts
Ratio of total res.
Commitments
bank's
"Other cash" does not include Federal reserve notes or a
own
Hate in
and
740,000
■■
;
;
and
liabilities
posits
93.2%
1,524,000
93.9%
inuus-
make
to
aavances
triai
9,522,971,000 10,152,606,000
9,408,950,000
R.
comoinea
ities
Commitments
7,070,0u0
13,488,000
cap¬
10
reserves
F.
and
bo,4^1,000
,
accounts
of
51,075,000
53,i>26,000
!.
7,109,000
12,884,000
51,687,000
—:_—_
accounts
'•
\
■
,
i>o,<t47,ouO
7,070,Uu0
l3,44o,uU0
'
capital
569,876,000
9,394,279,000 10,028,212,000
51,698,000
—
—
(Bection 13b)
'li'
921,055 W- 954,398
1,165,141
1,144,031
839,314
■
•-C'-J* C;
Capital Accounts
Capital paid in
Surplus (section 7)
Surplus (section 13-b) Other capital accounts "r
Total
301,575,009
_
:>■; >
9,280,295,000
7;
(aecnon
posit
2,853
708,465
dividends
Total
7,251,370,000
170,ul7,U00
—
15,825,084
877,919
15,683,120
958,777
..
12,884,323
deposits
avail,
418,412,000
liabilities
ital
ji,
i;_w—_,
Foreign Other deposits
Total
577,o62,000
gold taxen over irom tne Reserve banks wnen
.7,117,836
•
Deferred
.•
——
dividends
Total
"
in actual
account
Other liab.,
_
availability
items—
including ac-
aurpius
47
23,904,546
Treas.—General
8.
account,
■
■
50,220
'
•
47
23,873,262
Deposits—Member banks
reserve
451,2*7,000
Capital paid in
t
circulation
U.
2,196,203
47
47
51,384
——
——
notes
*47,317,000
445.79j.u00
568,998,000
deposits
Total
Liabilities
Fed. Res.
.
2,198,590
-
30,090
31,467
988;733
-
Total assets—
■
■
assets
6,101,787,000
187,86*,000
liabilities
crued
2,184,100
2,196,681
2,184,100
47
-
40,66/
954,428
40,588
7,167,891,009
6,048,717,000
——_—;
Total
Other
Ratio
34,235
933,518
•
—i_l—.tU.
banks
Uncollected items
1,446,938,000
Acct._
U. S. Treasurer—Gen.
aurpius
47
47
47
foreign banks.
Res. notes of other
Due
■
sec.,
.
-
.
account
bank—res.
Member
Other capital
Govt,
S.
,
1,832,555,000
___—1,858,150,000
tion
2,433,600
2,447,779
2,204,043
2,184,100
2,196,809
2,206,200
-
U.
Total
,
circula-
Capital Accounts—
■'■Notes,;
•
9,522,971,000 10,152,606,000
*
actual
in
notes
8,645
12,419
guaranteed-
;xBonds
R.
Deferred
direct
sec.,
,
——„9,408,950,000
assets
Liabilities—
F.
4,031
4,560
——
•
1,503
905
2,938
820,300
advances
Govt,
S.
and
6,102
1,622
1,748
3,641
5,462
4,500
2,187
7,9/3
"
10,222
discounted-
bills
Total
U.
2,407
-2,197
guaranteed —
bills discounted—'
Industrial
items
assess
Ocner
Other
and
premises
Foreign
If: S. Govt.
ooiigations, direct and 1
securities,
Deposits:
20,603,000
20,611,874
Secured by
.
R.
Total
18,631,297
15,411
:'t
Reserve-notes)
and
bills
Uncollected
10,553
<
'- ;■■
.
Bonds
Ocher
20,300,531
direct
Notes,'
F.
$
$
■
and
hand
on
due from
t
Redemption
1941
1941
1941
1941
—
Govt., .securities,,
S.
Bank
Assets
•
(
.Aug. 6
Aug. 13
Aug. 20
1941
Ciphers (000)
Three
Sept. 4
770,000
8,802,000
—
Due from
July 9
,
.
•
.
1,695,000
7,107,000
direct
July 30
'*•
•
«.*;
9,297,000
——
discounted
bills
Total
BUSINESS SEPT. 3, 1941
RESERVE BANKS AT THE CLOSE OF
OF THE FEDERAL
AND LIABILITIES
RESOURCES
COMBINED
discounted
a
1,670,000
10,967,000
Total
U.
1,280,000
,
by U. S. Govt, obligations. direct and guar.j; ■'••'-■■.
Other
9,144,389,000
8,560,200,000
1,021,000
Secured
■
Sept. 4, 1940
$
8,500,728,000
903,000
55,761,000
.
i
casht
Total
•
$
Treasury"
fund—F.
Redemption
due
hand
on
'.
'.
Aug. 27, 1941
Bills discounted:
Weekly Return of the Board of Governors of the Federal
Federal
the
1941, in comparison with the previous week and the
corresponding date last year:
Gold
.'■
.,;;
i
-
Total ' collateral
^y
.,'V;:7,••
of
3,
Sept. 3, 1941
.
■
condition
the
shows
Reserve Bank of New York at the close of business Sept.
■
-
following
Oct
'6,
]9<M>
414
.3
Jun
30,
1932
3'/2
Portugal
3
Rumania
___
Jan
14,
6
Jly
15, 1939 7
6Va May 28,
__
__
1935
4Va
May
Vz Dec
13,
17,
1940
4
1937
5
4
Mar
31,
1941
414
3
Sep
12,
3Va May 15,
1940
3'/a
*4
Mar
3
v
4 Vz
•'
2
Oct
26,
1939
Oct
1,
193b
5
South Africa
1933
4'/a
4Va
Dee
3,
1934
4'/2
Spain
29,
1939
5
4
Sweden
3
May 29,
1941
3]/a
—
r
1%
Mar
17,
1941
2
1940
4
Switzerland
1V2 ■Nov 26,
2
Apr
6,
1936
3'/a
4,
1937
7
Yugoslavia
5
Feb
1935
Jan
2'/a .1(111
6Y?
26,
1941
3
6
officially
confirmed.
1,
44
CHRONICLE
FINANCIAL
*
Saturday, September 6, 1941
'
■
i
,
"
•
.
..
.
.
•
i
,+ •
'
I
Weekly Return of the Member Banks of the Federal Reserve System
Following is the weekly statement issued by the Board of Governors of the Federal Reserve System, giv¬
ing the principal items of resources and liabilities of the reporting member banks in 101 leading cities from
which weekly returns are obtained.
These figures are, always a week behind those for the Reserve banks
Weekly Return of the New York City
;
r;;;; ,■Blearing Mouse
£rS
;
The weekly statement issued by the New York City
Clearing House on Friday afternoon is given in full
themselves.
below:
ASSETS
AND
LIABILITIES
OF
WEEKLY
REPORTING
MEMBER
"(In
BANKS
Millions
IN
of
101
LEADING
CITIES
DISTRICTS
BY
ON
AUGUST
1941
27.
Federal
Reserve
Districts
ASSETS
liOans
and
Loans
Total
,
York
$
v.;
.
investments—total,
29,107
total—
—
Eoslon
1,446
10.697
(indus.
Loans
to
loans
agricul.
loans)
13,149
in
purchasing
2,530
:
securs.,
443
Other
treasury
Treasury
Obligations
Cash
in
Other
319
27
13
3
guar,
1
205
194
34
151
U.
S.
25
domestic
.75
3,802
,
l,-52
411
2"5
403
332
,
N.
211
237
129
241
215
447
51
21
3
30
2
24
38
4
1
3
4
9
60
12
139
61
2
88
-
Nat'l
:'.V
1
183
78
733
253
96
181
2
6
173
—
11
76
14
Time
■
United
States
Inter-bank
:
23
6,000,000
•..
-
banks
■■
91
85
63
$
,
.
,
>
,
Time
Deposits
"</>%: Average
14,294,300 $
t-
Average'
245,068,000 $
77,500,000
20,000,000
58,357,100
Co._
90,000,000
Co.
41,591,200
187.,600,900
40,988,600
681,257,000
2,707,948,000
...
16,283,000
a
37,957,000
163,021,000
and
7
'
364
1
10
7
33
48
217
?5
20
44
35
122
113
120
810
40
111
220
99
70
360
79
269
68
116
570
111
41
135
60
783
292
137
1,525
242
107
215
154 /
ii5
1"."
248
{•.
388
24
54
29
405
256
265
.V/i 92
45
52
1,791
665
546
211
191
,
209
First
64
1,247
17
82
16
46
&
Chase
Fifth
8
20
14
202
113
312
304
75
22
16
20
3,429
601
346
629
586
111
142
134
85
28
o
75,642,700 t 1,162,363,000
84,578,000
20,287,000
342,600,000
828,186,000
27,617,000
727,771,000
5,182,000
10,000,000
109,849,400
50,000,000
553,896,700
Co.—
4,000,000
Bank
100,270,000
Bank.
500,000
25,000,000
.
4,531,200
137,453,100
4,267,300
Co..
..
957,000
Bank
Nat'l
Ave.
Title
321
88,765,000
106,934,000
15,000,000-
•
Bankers Trust Co.
1,089
39
■
'8,739,000
730,564,000
21,000,000
Co.
Bank.
Trust
Trust
342
628
Orust
Continental
174
854,764,000
t 2,223,051,000
Hanover
Nat'l
Irving
543
'
•
„
Exchange
.Bank
*
10
116
272
68
1,443
5,431
230
74,082,000
84,331,100
1,575,000
3,359,122,000
45,833,000
58,288,000
§
4,609,000
•
..
f!
1,170,758,000
80,815,000
Guaranty
•
n)
1
11,771
l.lJl
,
; & Trust
299
Marine
1,255
584
13
119
|
384
3,888
t
748'
258
19
9-215
_
478
;
?
51 '!
36
•:'';;47
995
191
132
24
1,415
,419
2
17
KK
N. Y.
1,391
Co.._I
j
6,000,000
1,168,100
18,108,000
' 2,220,000
'
Midland
Co.
5,000,000
10,151,100
149,727,000
12,500,000
28,067,600
,454,724,000
«
21
629
■
569
l'V
l
.
■
!t'v-v
'
561
6
1.' '
355
386
2
.
'r
M'.
....
8
v.:;,
'*
I,
;
191
.
273
• (
Bank <3z
Public
20
3,883
'i;——-—-J——''
250
;
1,642
i6
219
y
41'
21
393
'
15
102
■
19
8
98
63
5?
4
422
98
6
109
324
:;
iv': 91
Tr.
Co.
7,000,000
6,916,500
143,979,000
1,629,000
7,000,000
♦
10,758,300
-102,067,000
53,842,000
National
—$518,361,200 $960,480,800 $16,104,427,000 $776,551,000
official reports: National, June 30, 1941; State, June 30,
companies, June 30, 1941.
Includes deposits in foreign branches: a
$288,209,000 (latest available
date); t $64,991,000
(latest available date);,! (Sept. 4)
$2,889,000:
S $88,152,000 (latest available
date); ! $23,250,000 (Aug. 30).
'•
'
271
■
42,810,000
Total
'.mL'
*
22
3,125,000
„
Nat'l
Bank & Tr. Co.
386
IK
'ii*"
■;
479
Co—
Trust
Commercial
c...
1—_
———
752
accounts
-
.
Bank.
Bk. & Trust Co.
200
5D4
198
liabilities
Capital
1941.
Net Demand
-
27,221,000
•82,100,800
Trust
Corn
:
;
5,491
152
24,453
Foreign
banks •
IV
Borrowings
____■;
Other
4,
Associa¬
House
■
—_
,;
,
.
Clearing
Deposits
20,000,000
Trust
Central
385
1
"
1,187
Government:, deposits
deposits;,-
Domestic
Sept.
Co.
Co.
Trust
deposits—adjusted
deposits--'1 i'J—
York
Undivided
"
Demand
New
Frofits
—$
Bank
Trust
Guar.
38
23
-
—
\k
,,1.694
,
500
Capital
the
City
Chem,
■
15
1
124
l
1,985
,
124
.
Y,
of
Manhattan
1,107
891
;
38
•
—«
26
3,462
_■
•
384
i
1,486
3,418
1
10,633'
banks—
assets—net
LIABILITIES
2,509
11
50
1
in
:
13
185
,
'•
618
43.
,39g.
3.316
i_.
Bank!——
19
52".
559
with
'
27
••' •'
559
.
7,934
Govt
Reserve
626
...
...
: •■*-2,279
1
—
by
■
813
6
of
Bank
478
5
329
$
$
857
190
14
$
the
Thursday,
Members
Dallas F'risco
City
$
4,110
376
151
21
4
vault
Balances
861
l
$
'
:
736
411
80
1,079
^
_——_
bonds
Stber securities,
feserve
with
Federal
819
44
16
1,932
bills
notes"
2,228
566
43
1,.
States
$
of
business
Clearing House
Louis apolis
cago
members
of
-
11
.
United
lanta
$
301
1,254
'
...
_
loans
?' Sh
Chi¬
Manuf.
banks.i____:
to
>
1
96
:
89
437
loans
estate
<
carrying
or
; securities '
Real
Loans
mond
$,:
1,345
r
3,948
430
;
4oo
paper,—,
brokers and dealers
for
land
$
-.3'
781
6,18)
__
market
Other
and
Rich¬
delphia
$
'
Commercial
Open
Cr'e-
Bk
•'
■
Phi'«-
*
of
close
at
•*Surplus-&
-
.
New
(
•
Statement
tion
Dollars)
•
* As
1941;
396
per
trust
'jj
Class I Wet
j
Railway Operating Income in June Nearly Double Year Ago
' The Bureau of Statistics of the.Interstate Commerce
Commission has issued
gate totals of selected income and balance sheet items for
month of June and for the six months ended
These
figures
Class
I
June, 1941 and 1940.
steam
statement
a
showing the
railways in the United States
Bank of
aggre¬
for the
•'
'
'1
TOTALS
FOR
THE
'
i
.
.
V* ,./
'
■
.
UNITED STATES
INCOME ITEMS
!
J——'
railway operating income
Other
income
Total
available
income
fixed
6—01.
Rent
Interest
Other
for
6—04.
Total
Income
Contingent
after
'1940
.
$
48,090,777
317,006,592
2,810,284
16,829,495
15,729,322
485,639,354
301,277,270
—
13,202,501
11,881,411
77,552,735
£115,922,838
Other
67,150,864
38,449,974
39,760.767
231,065,492
236,353 629
119,355
129,119
712.663
51.771,830
—
51,771,297
" '
<
309,330,890
stock
preferred
fixed
to
8,633,553
1.058.318
1,016,046
6,314,731
169,993,733
def9.115,343
18,076,841
17,146,356
107,277.582
4,981,362
67,426,338
20,805,882
176,308,464
def3,003,856
—.
'•
—•
3/
6,519.890
3,172.949
46,189,431
340,746
11,306,673
1.17
1.57
ASSET
AND
LIABILITY
Class
1941
v, i
bonds,
(Total,
etc.,
than
other
those
.99
I
end
at
Class I Railways Not in
Receivership or Trusteeship
Railways
dep._
of
June
Balance
1940
,
at
the
end
of
Miscellaneous
^i.——-I:———
Materials
Interest
and
and
558,497,515
$
599,919,535
$
&
479,219,018
$519,977,388
$374,704,555-
current
Total
Funded
and
Traffic
and
22,770,170
49,714,583
123,760,303
113,140,141
350,326,010
293,327,724
16,697,521
20,841,608
114,836,686
'1,206,031
1,403,801
902,217
6,302,373
5,610,087
$1,242,166,202
$1,226,809,526
—
___
,_i
—
——
assets
$1,616,194,738
months
4/
$
79,579,889
$
■
49,825,869
payable
car-service
Interest
accounts
5/
_1_
1,281,897
Unmatured
dividends
Unmatured
rents
Accrued
payable
$
accrued
coin
S. Government
than
:
U.
t
:
S.- Government
22,905,733
23,213,079
64,560,000
20,887,983
—
30,801,917
-
_
26,151,515
:
5,353,719
,5,121,241,
J2.Q72,852 ,-,-21,030,274
47,720,033
38,878,328'
"
1,817,835
884,650
-
687,955 327,834,631 328,026,397
of
to
>»
33.9%
rate-
11.8%.
2.%
18B.%
2%
1883;
oz.
.' ' The l market
serve
196,918,339
14,322,809
24,460,077
46,974,825
4,293,240
6,720,300
4%
30.1%
,
•'•
--
2%
25.2%
♦2%
-
168s.
168f. r- 84s. ll^d.
lLVad"-
84s.
with
:for
the
Bank
prime
"bankers'
activity this week.-
demand
rates
are
largely in
■;4 ,v*:
acceptances
Prime
of
excess
reported " by
the
-
bills
the
Federal
has
are-
sup¬
Re¬
of
4,293,240
16,777,629
^
48,763,013
14,196,410
.<
for bills running from 1
13,958,515
"
."'j:.
210,896.324
229,922,673
44,150,580
78,578,717
-31,479,478
68,426,791
702,246,162
$682,381,024
$
914,799,516
$
*
••
'
to 90 day si
' •"
Yerk foaey Rales
274,583,463
Dealing in detail with call loan rates on the
StockExchange from., day to day, 1% iwas. the
ruling quo¬
all through-the week for
Jjoth., new.loans and.
tation
154.597,354
taxes
87,979,653
140,764,575
77,193 207
119.986,109
...
amount
in
default.
''principal of ?IoAg-term1' 'debt
f
obligations which mature
,
90
70,026,928
122,916,671
89,158,098
92,848.983
.
t
,
renewals.-. The market for time
money
Rates continued nominal at
Hi%-
"
<
•
-
'
U- ' ir
not
more
than 2
years
«
*
iv?r.h.-»
after date of issue.
>+'•
.
v*t
.
....
•
wcoiiu
\iul
t
•«,.
up,
continues quiet
to-90. days and:
The market
1^:%, for four to six months' maturities.
as fellowsJune 1941, 1.33; June 194p<;.38;,6 months 1941^. 1.03; 6 mdnthS'U
(othei).than long terhf debt lh; :defknlt)',(whfcHWfe''bdcbme'dUet%ithin six"months'
aft^,"^•
.
5/Includes
•
20,633,083
psh©wn very little
57,583,958^
S/Flov? railways .Jin -receivership" and trusteeship .the ratio, .was
close of month of report;.-
v..
6,016,517
New York-for bills
up to and including
days are V2 % bid; and 7-16% asked; for bills runn¬
175,423,290 I
ing for. four .months, 9-16% bid and y2%
asked; for five
56,606,673:
^ and-ffilfr ^nCHlths, %% bid and 9-16% asked. The bin
43,896,885
buying rate of the New York-Reserve Bank■*&
46,210,987
926,884,503
accruals^, including ,the
.-4/includes'•payments'6f
:
.
Bankers'Acceptances
^
29,711,697
51,004,257
17,071,373
liability: •
takes I.
—I
.
36,255,322
27,426,571'
'
$992,729,619^^
$
68,298,486
,
31,229,596
3,865,059
882,823-'
4,442,790
39,001,430
224,552,384
.
34,852,399
Gold val per
—
-1/Represents
£
and
bullioin
Bank
tdx
&
J
18,395,204
6,720,300
liabilities
:
1937
272,876,711
i
15,357,386
42,757,631
49,134,913
^
i
•
current
Other
Sept. 8
,
"
£
123,721,164 101,336,164 107,142,301
7,036,439
>
37,734,279
24,824,190
i
liabilities
1938
91,259,444 105,701,989
41,235,448
95,426,833 1
63,032,362
*___
accrued
U,
&
$115,026,361
58,088,900
.-.11
declared
ta* liability,
current
»
252,822,234
_.
!
accrued
Total
•
26,770,795
liabilities
20,458,953.
48,878,954
56,545,801
Analysis -of
-r
146,002,838
27,719,528
reserve
1,191,41?
'
115,922,000
scarce
.135,160,455
>■ 56,795,727'
,
unpaid
interest
Unmatured
com¬
notes
fine
148,816,071
72,249,573
balances—Cr.
matured- unpaid
Dividends matured
/.
.
116,278,604 111,266,996
sec._
Propor.
.116,790,189
56,247,954
152,638,639
i
29,887,167
73,387,137
377,618,920
—
Audited -accounts and wages payable
'*
1,462,150
32,775,008
-
maturing within 6
Miscellanoous
'■
69,233,376
105,126,095
assets
bills
Sept. 7
1939
secur.
ply^ . Dealers'
Loans
Other
53,947,526
132,411,236
1,531,185
—-—
—-
current
debt
77,110,960
agents and conductors
receivable
receivable
Other
with
Statement
Sept. 8
-
1940
48,447,840
Securities
537,216,182
;
479,226,442
——i—__—.
receivable
supplies
dividends
Rents
items
■
advances
1940
I—
—r.'r—
__^
balances—Dr.
from
accounts
various
Comparative
Sept. 4
122,676,987
"
Disc't
June
,1941
17,883,647
Net balance receivable
England's
53,012,746
Other
Res.
$
ii
receivable—
car-service
the
years:
Bankers'
accounts
139,319,275
and
£2,275,420.
14,498,000
10,851,948
15,029,438
32,151,328
11,969,223
175,689,733 164,726,444 152,502,444 126,111,843
141,957,611
dep.—
Other
of-affili¬
707)
Account
Temporary cash Investments' ——i_
Traffic
declined
667,258,000 609,995,637 549,886,038 480,114,598
489,148,069
Coin
bills
The,
33.9%, the
Circulation
ITEMS
736,026,415
and
to
y']':
9,568,822
2.04
——
Balance
Loans
of
1941 :
Govt,
companies
furnish
Sept. 3
43.588.681
75.000
___
stock
charges
All
ated
we
Bank
Other
stocks,
securities
102.072.287
19,617,502
—
Below
parisons for previous
accounts
in
£3,904.973.
rose
comprise
discounts
and1 advances,
£697,944 and securities, which declined
No change- was made in the 2% discount
6,111,487
7,617,507
•
SELECTED
Investments
note
to
Pub.
common
On
in
outstanding
and'other
£2,973,364.
304,281,126
52.800,181
—
—_—
On
income
total
securities;
rate..
776,633
53,858,499
__——
Equipment)
the
of
as
which increased
——
taxes
71,483,484
502,468,849
raised
highest of the year to date, compared with the record
low, 5%, April 16 and 11.8% a year ago.
Government
security holdings contracted £44,420,000 to a total of-
$245,523,108
68,930,436
60,404,850
—
and
;
the
2,555,000
other
accounts, which gained
proportion of reserves to liabilities
1940
433,538,413
$
for
£
and
of
1941
63,215,134
—___
charges
structures
months
2,670,236
'—_——__________—,
and
six
'r(/i
——
charges
the
'
1941
15,124,357
1
'
; /
For
appropriations:
12—02.
of
fixed
fixed
equipment
—
(Way
income
12—01.
Ratio
and
1/
—i.;
income
Depreciation
Dividend
roads
charges
Net
Federal
leased
deductions
deductions
:
June
105,630,329
•
„
;■
6—02.
•
1—
—
charges
charges:
6—03,
of
15,039,186
from
for
month
106,300,565
<.
deductions
Income
"
<
the
of
circulation,
£667,258 000.
Aug. 13, £668,176,787, was the high¬
est on record.
Gold holdings dropped £
183,930 during
the week, while reserves
expanded £47,261,000 to a
total of £64,560,000.
Public deposits decreased £365,000 while other deposits
gained £915,866.
The latter
consists " of bankers';, accounts,' which
lost •<• £2,989,107 •
REGIONS)
93,261,379
—_.i,——
income •;
Miscellaneous
Fixed
$
For
.
;
Net
(ALL
\All Class I Railways
i' ft .'A,';
week ended Sept. 3
..;v
statement
advance
an
which
"
»'
England Statement
•>U'vi" V '■
Bank's
Circulation
*
'
'^} ■
The
showed
*
subject to revision and were compiled from 132 reports representing 137 steam
railways.
excludes returns for class A switching and terminal companies.
The report is as follows:
are
The present statement
: t
■
.
)(»}• '
.
::
for, prime commercial;
paper
has
been
.
very
active
and
1
45
CHRONICLE
FINANCIAL
Number 3977
Volume 154
stands
date
Foreign Exchange Bates
'
•
.
J
;
■
'
•
AUG. 30,
-
1941
to
SEPT.
Noon
:
Aug. 30
europe—
-
•
—
markka
franc
x
X
x
;"
t
x
X
x
x
X'-'-
,
-;j,
•
$
t
X
t
X
t
x
x
x
X
X
t
X
X
t
X
t
X
:.
<
.
'
.
__—
escudo
leu
Rumania,
Switzerland,
_______
dollar
Tientsin
(British),
India
-Straits- Settlements,
Official-
<
*
.301300
.301300
.301300
X
'v'.V
the
X
3.228000
3.228000
3.228000
Africa,
South
Canada,
.
-
3.213333
3.213333
3.213333
3.213333
3.225958
3.225958
3.225958
3.225958
3.225958
3.980000
;'vV
•'
of
j.
T———
3.980000
3.980000
3.980000
3.980000
that
.909090
.909090
i—•-
.909090
.909090
.909090
.893125:
dollar
..
-
Argentinaj peso—
.205425*
.909090
.909090
.909090
.909090
.891041
.891250
.891250
.892500
.297733*
.297733*
.297733*
-
t
.237044*
milreis—
t
V:
.237044*
■0t
VQ;
.060575*.
Free.
.
.237044*
.237044*
.060575*
.060575*
considerable
importance
wartime industries,
which
i
Official
.050666*
.050666*
Export:
•;/«
~—-xh*-4v——^^~—w —.■
■
i
■
,
.569825*
.569825*
.658300*
.658300*
.438420*
.438420*
.569825*„-,\V QKo
-t
.••/;
•
Non-controlled-^—
—:
t Holiday.
f:
r-.- .►.569825*
.658300*
..
§
\:
.
.658300*
t
.441166*
—
X No rates available.
j
t
0,:
..
.
has been pre¬
answers
Subscriptions of 8,000,000 pounds had been received
1 to the 10,000,000 pounds New Zealand war
to finance war needs through March, 1942.
Act¬
ing Prime Minister Walter Nash announced on Sept.
■"0y\'y
:
§
■
.569825*,
x—__1——
Controlled
questions and
loan
fff't
v;,,;8
peso,^«•'■*»—-?c:
99
by Sept.
.050666*
.050666*
Chile, -peso—
♦Nominal rate,
of
are
non-essential
of
of
series
.237044*
',iV'
liiif
.050666*
<■;
_
enterprises
subject to the industrial concentration program.
.060575*
-
*
>■.
; "Uruguay, peso
;i V
ginal instructions issued by the Treasury as Public Cir¬
cular No. 4 constitute a 30-page pamphlet.
.060575*
1—'
Free
-,C9iomb(a«
retained
and
.297733*
.297733*
Official
"-a
received-40,000,000 ^pounds
to 43,500,000 pounds.
:
up
ing the information called for by Form TFR-300, cover¬
ing foreign owned assets in the United States. The ori¬
y
..
•
,'J
Under the Feb.
tation with the Federal Reserve Bank, in order to ex¬
plain further the complex procedure involved in supply¬
.
Official
year to 43,000,000 pounds, re¬
of January 1, 1941," until a year
1940 arrangement,
a
as
ends.
pared by the Foreign Exchange Committee, in consul¬
.894821
.205425*
y'/
___•
y
.893828
.205425*
.909090
____
———T--
.893750
.205425*.
.890781
peso
.893515
.205425*
.1
couth america-*-
■
small
the field
A
Official
Brazil,
railways
are
dollar
-Newfoundland,
;"-"
war
lead
:
__
Mexico,
Empire's
the
According to a study conducted by a British maga¬
zine, small business has been receiving a steadily inc; creasing share in the national income. '
It is pointed out
in
pound
war
any revenue
■
Official' ,1-i
Free
after the
.471600
.471600
.471600
3.228000
3.228000
——,—
pound.
AMERICA—
NORTH
Since
lead-min¬
cover
subsidy allowed the four British mainline rail¬
companies by the Government has been increased
.301300
<
t
t
.471600
1
'.
—
.251000
-
-t
.471600
y.:;v'y. >
africa
Union
present British
than sufficient to
requirements.
3,000,000 pounds
troactively effective
x
.251000
3.213333
Zealand,
New
that
more
are
by
0" §
X
.251000
x
.301300
r'
pound—
l.-Ji.1.
Australia,
,
——'
'
au8tralasia—
..
'
/
British
the
indicate
to
operations
way
.251125
t
.251000
-'-V-,
dollar^—
■
X
X
X
.
^0 § '"h
(yuan)--™_;-_-_v-(yuan)
rupee_
Yen
Japan,
x
__—___
x
X
t
(yuan)
(yuan)
dollar
Hong Kong, dollar
-
Kano,
Viscount
Specie Bank, in de¬
The
dollar
Shanghai
China,
funds.
production capacity, in excess of 650,000 tons a year, is
well above consumption needs, it is thought that con¬
siderable quantities of lead will continue to be avail¬
able for regular import by the United States.-''
X
franc,
Chefoo
China,
that
consumption
■
China,
sterling
,
—
China, Hankow dollar
>
ing
dinar
Yugoslavia,
asia—
——
krona
Sweden,
■'
K-
—-
peseta
Spain,
Japanese
fact
believed
*
§
•-—ii*-
of
Treasury excluded lead in
certifying metals for relief from excess-profits tax was
-'.V
x
X
'
Portugal,
The
'..x
t
X
at
taxation
is between 90 and 100.
X
X
___________
interest rates
t
■
krone
heavy
and other official
'0 :'.0X
'■ t
v..
:
fix
X
-•
X
—
pengo
zloty
X
*
t
j
-i.—
I
to
of
face
the
X
4.033125
•
been able
in
new
claring that Japan will continue to honor its sterling
obligations, repeated his previous as¬
sertion that the correct price for Japanese sterling bonds
4.035000
4.032500
r
levels
London manager of the Yokohama
4.035000
t'
,
Y
Y
British market to
.
4.032500
X
low
amount
t
4.035000
—
,
the British Treasury's action in releasing the necessary
t
•
4.031875
t
*
drachma
Norway,
X
X
;
five
3,223,245,-
and
mounting living costs.
Payment of the Sept. 1 inter¬
est on Japanese sterling bonds was made possible by
-
4.035000
———
__
Italy, lira
Netherlands, guilder
Poland,
t
V;
•'
4.031875
.'I
____
u—i
reichsmark
Hungary,
•
'
■■■
4.035000
-
—
Greece,
.
X
;
X
/
•,
Government has
record
i
,
t
v:;', t
—.
—
Germany,
•
'
X
Free
jFinland,
X
.
■
Official
France,
t
'
pound steni.ig—
England,
J;
the
Sept. 5
Sept.
>
$
t;'■'
Bulgaria, lev
Czecho-Slovakia, koruna
Denmark, krone
v
Sept. 3
Sept. 2
;
Belga
Belgium,
the
During
capital issues
and other measures of monetary control have left Gov¬
ernment
bonds
the
principal outlet for investment
funds, with the result that bond prices are high and
York
Buying Rate for Cable Transfers in. New
Value in United States Money
Sept. 1
pounds.
Closing of the
.
TREASURY UNDER TARIFF ACT OF 1930
1941, INCLUSIVE
y
5,
Monetary Unit
and
Country
•
EXCHANGE RATES CERTIFIED BY FEDERAL-RESERVE BANK TO
FOREIGN
„,\.y
\
.
000
transfers in the different countries of the
tifying daily to the Secretary of the Treasury the buying rate for cable
world.
We give below a record for the week just passed:
pounds.
000 pounds whicn included Treasury bills at 2,495,310,-
Tariff Act of 1930, the Federal Reserve Bank is now cer¬
Pursuant to the requirements of-Section 522 of the
t
.
at, 1,220,998.349
weeks ended Aug. 30 the floating debt yose to
.
.658300*
.441166*
:■
§ Temporarily omitted.
that the loan had been oversubscribed.
3
8
r'y
r
.
T
J I-
.437425*
U-;:-, '.'J;, :
of
Agriculture
stated
Aug.
on
quota for meat shipments to
30
that
The Minister
Zealand's
New
Britain will be increased
by 275,000 tons, and urged extension of deboning, can¬
ning and trimming practices to save refrigerator space
^pn ships.
•
-
,
•
The
of American convoys,
The Market for sterling exchange
and
subject to
severe
is extremely limited
wartime restrictions.
The free
pound is steady and shows little variation from official
rates.
The
range
for sterling this week
has been between $4.03 and $4.03% for bankers' sight,
•compared
last week.
tween
ween
a range of between $4.03 and $4.033/4
The range for cable transfers has been be¬
with
$4.03% and $4.04, compared with a range of be$4.03% and $4.03% a week ago.
quoted by the Bank of England con¬
tinue unchanged: New York, $4.02%—$4.04Vz\ Canada,
Official
rates
(Canadian official, 90.090—90.910 per United
dollar); Austrialia, 3.2150—3.2280; New Zealand,
.3.2280—3.2442.
t
American commercial bank rates for
4.43—4.47
.- At the first meeting of the new
Supply Priorities and Allocation Board, held in Wash¬
ington on Tuesday, Vice President Wallace stated that
"every available man and machine" may be employed
on
In London
:
or
26
buying and 4.04 selling.
exchange is not quoted on Germany, Italy,
of the invaded European countries. 'Since July
exchange on Japan and China has been suspended
any
In New York exchange is not
•quoted on any of the Continental European countries,
due to the June 14 Executive freezing order.
Exchange
on Japan and China was similarly suspended on July
26, but trading in the Shanghai yuan was resumed on
August 4 under special Treasury license.
:
; ;
hy Government order.
maintained.
No
food
in
transit
Britain
to
was
lost
will
be
produced
in
American
All
seaboard.
general
which may now
foundland of all articles and materials
exported to Canada under general license.
Montreal
funds ranged during the week between a discount of
10%% and a discount of 10-7/16%.
,
amounts of
The
during any previous year since the World
War, with the exception of 1941, and more ships than
were delivered in the whole of
1917, when we were at
low
gold imports and exports which fol¬
of the United
taken from the weekly statement
are
States
Department of
ended
war."
Aug. 27,
GOLD
During the last ten weeks the British Navy has con¬
mechandise imports averaging 850,000 tons a
IMPORTS
Commerce and
1941.
.<
cover
'
peach
of
the
German
paign for still greater armament effort, pointed out that
•"the output of war materials of the Allied and associ¬
ated powers, including the contribution of the United
States, still falls far short-of our-needs , / . to be rich¬
ly supplied in equipment is the best economy in war . . .
a call for immense effort lies
ahead, especially in the
President Roosevelt's Labor Day
speech summoning the nation to a vast, united unremiting acceleration in the rate and volume of production
and its safe delivery to Britain was interpreted in Lon-;
don as an indication that an ever increasing flow of
American munitions will be sent, under the protection
field
of production."
•
reported that the German attack
inestimable
of
economic value
to
Germans, for the first time, are now
reckless
expenditure of accumulated
will be hard to replace."
Britain
has
on
Russia
Great Britain.
embarked
material
war
seized
800,000 tons of contraband goods.
The Ministry reported, further, that Great Britain has
been greatly helped by United States cooperation in
navicert and ship-warrant systems, blacklisting
policy,
of German funds and pre-emptive
goods wanted by the Reich.
freezing
and
buying of
The weekly Exchequer return for September 2 shows
increase of 17,282,237 pounds in the British cost of
an
supply to
pounds
taxes
000
a
total of 90,622,237 pounds, against 73,340,000
Revenue from customs and excise
last week.
increased
byrnearly,14,000,000 pounds to 23,833,t-
pounds, but income tax receipts
were
1,508,441
coin
2,885
.
$3,270,579
Total
Details
r
of
off by nearly
Refined
Bullion
and Coin
Imports
$3,160
\
■
Gold
$114,878, Nicaragua $134,502, Mexico $498,013,.
Venezuela $194,473, Philippine Islands $402,506.
. T
Canada
$123,211,
held
during the
earmark
under
Referring
the
Federal
Reserve
banks
increased
sterling exchange on
$4.03—4.03% for bankers, sight and
cable transfers.
On Monday there
day-to-day rates
to
was
for
market
no
at
week ending Aug. 27, by $10,244,975 to $1,976,841,297.
Saturday last
was
.
$230,
?1,508,211
■
♦Chiefly
Chile,
•
;
Belgium
.Canada
$4.03%—$4.04
♦
$275
*$1,762,138
bullion
bullion
Refined
a
which
Since the outbreak of the
base
and
Exports
Imports
is
"The
on
Ore
27, INCLUSIVE
EXPORTS, AUG. 21 TO AUG.
AND
the week
•
voyed
sian industrial centers
covering
licenses
be
shipyards
week, it was disclosed on Wednesday by Sir Archibald
Sinclair, Secretary for Air.
The Ministry of Economic
Friday, Aug..
consolidated
into one general license.
In announcing the change,
Secretary Hull stated that the export lists involved are
in no way altered.
He also stated that a general license
was issued on Aug. 28 authorizing the export to New¬
United States
Warfare
on
United States exports to Canada have been
between July 1, 1941 and end of 1943.
(>fn the first
quarter of 1942 the American shipbuilding industry will
deliver more new ships than were produced in the
and raw materials falling within
forces, and armament demands
likewise from such quarters as China, Turkey, and the
Netherlands East Indies, British and United States leaders
are
urging intensification of productive output.
Foreign Secretary Eden at Coventry, opening the cam¬
^
89.50
Aug. 28 the Minister of Agriculture announced that
an agreement with British
Food Ministry, Can¬
Canadian
in
Emory S. Land, chairman of the. United
Commission, told reporters on Wed¬
nesday that 1153 new ships of about 12,410,000 dead¬
tons
reached
dollar
under
Maritime
weight
,
Canadian
ada will deliver 600,000,000 pounds of Canadian bacon
Vat $22.15 for 112 pounds, Grade A Wiltshire, F. O. B.
Read Admiral
States
Call
follows:
as
29, the highest level since Nov. 1939, due to tourist va¬
cation buying, and rose to 89.56 in Thursday's trading.
July, and August shipments of 230,000 to 250,000 tons
are reported to be
arriving safely.
Growing concern over production is being voiced in
Britain and the United States in View of the widening
demands for war materials.
With large sectors of Rusr
'
The
On
States
official sterling continue at 4.02
six-months
resources.
tain, and Britain will probably request greatly increased
shipments in view of the high record of safe arrival
available
easy,
bills, 1-1/32%; three-months bills, 1-1/32%
1-1/16%; four-months bills 1-1/32% to 1-1/16%; and
bills, 1-3/32%.
to
re¬
The United States Government is spending about
$2,~
000,000 daily for foods for lend-lease shipment to Bri¬
market is relatively
at 1%. Bill rates are
two-months
quired to raise defense production to the limit of the
nation's
is
money
^ the defense program or in work essential to the
civilian economy and warned that sacrifices will be
London money
in
New
York
due
to
the
Labor
Day
On Tuesday bankers' sight5 was $4.03—$4.03%
and cable transfers were $4.03%—$4.03%. " On Wednes¬
holiday.
day bankers' sight
was
$4.03—$4.03 Vz
and cable trans¬
$4.03
fers $4.03%—$4.03 %., On Thursday the range was
(Continued on Pago 46)
:
-
t
':y. •"
FINANCIAL CHRONICLE
46
Course Of
Saturday, September 6, 1941
Course of Bank
Sterling Exchange
Clearings
'
(Continued
from
45)
Page
Bank
$4.04 for cable
—4.03V2 for bankers' sight and $4.03
with
transfers.
will
Beaverbrook
head
British
the
Complete and exact details for the week covered by
the foregoing will appear in our issue of next week.
We
telegraphic advices from the chief cities of
upon
furnish them today, inasmuch as the week ends
today (Saturday) and the Saturday figures will not be
available until noon today.
Accordingly, in the above
the last day of the week in all cases has to be estimated.
cannot
indicate that for the week ended today
(Saturday, Sept. 6) clearings from all cities of the
Continental and Other Foreign Exchange
Lord
a
based
the
clearings this week show an increase compared
year ago.
Preliminary figures compiled by us,
delegation
country,
United States from which it is possible, to obtain weekly
clearings will be 22.2% above those for the correspond- f:
ing week last year.
Our preliminaary total stands at"
at the conference to be held in Moscow on Russian war
needs, it was announced on Wednesday.
W. Averell
Harriman, previously minister to London and the Presi¬
dent's special lease-lend representative in London, will
head the United States mission.
The problems to be
.discussed
were
described by
Stephen Early, White
House Secretary, as "about 90% military and 10% na-
In' the elaborate
detailed statement^ however, which
further below,, we are able to give final
complete results for the week previous—the week
ended Aug. 30/ For that week there was an increase of
$5,606,918,863, against $4,588,342,417 for the same week *
in 1940.
At this center there is a gain for the week
ended
Friday
30.0%.
of
for the week follows:
Our
comparative
i
»
-
and
summary
'
,
"
41.6%, the aggregate of clearings for the whole coun¬
try having amounted to $6,566,972,749, against $4,637,612,850 in the same week of 1940.
Outside of this city
1v
-
val."
.
.
Clearings—Returns by Telgraph f .
Four general
licenses
issued
were
Aug. 30 to
on
ex-
Week Ending Sept. 6
pedite the movement of Latin American and British
Empire shipments to Russia the licenses authorize ship¬
ments of goods in transit through the United Statesand
countries
other
between
Russia,
United States
the
of
$1,779,230,615
274,592,260
337,000,000
211,200,812
180,493,078
150,790,846
419.7
94,392,519
67,272,838
'440.3
79,200,000
61,300,000
429.2
_
Hemisphere
and shipments
in - transit through the
between British Empire and Russian ports.
Kansas
City
_
Louis
St.
San
—
as
141,887,000
144,186,000
Francisco
Pittsburgh
4-53.6
46.6%
75,568,090
'+25.7
51,244,367
439.5
$3,710,670,176
$2,959,501,522
425.4
.961,762,210
700,273,240
437.3
$3,659,774,762
427.7
——
$4,672,432,386
(934,486,477
928,567,655
4.6
Total rail cities for week—
$5,606,918,863
$4,588,342,417
422.2
Other
all
Total
five
cities,
days—._
five days
cities,
-
five
cities,
days—
All.cities, one day
supplies required by the Russian armies in that area.
shipments of all types of United
States steel and has received A-l-A priority for oil
Russia is seeking large
drums.
Week Ending Aug. 30,
Despite the loss of valuable regions in White Russia
and the south and west Ukraine, Soviet industries be¬
Federal
on
nounced
Atlanta
control
8th
St.
9th
retroactively
1,
tax
measure
applicable
in
the
number
effort
an
to
suppress
food
interfere
with
Treasury
187,405,375
3,734,600,048 V
144,955,608
"
186,035,574
340,605,940
278,753,512
v: 253,482,006
127.118,830
"
"
"
81,328,680
10
"
City
____—
add
now
O.
468,549,225
+46.3
V/.<
121,878,690
109,154,806
121,269,029
63,222,637
112,640,341
03,811,106
350,798,247
236,911,589
+ 48.1
247.348,070
219,494,973
$6,566,972,749
$4,637,612,850
+41.6
$6,014,720,605
3,414,537,300
2,344,988,289
+ 45.6
2.380,123,110
_.
134.144,373
::
$
384,922,904
Z/
_
279,272,138
.
.
Week
1941
$
.
.
+
+37.8
v
■.
$5,176,554,679
+
2,192,525,164
$
388,112,390
$
307,866,799
$
Inc.
'::;
1940
+++
755,388
?
500,750
or
Dec.
182,428,000
+44.0
1
;
693,399
2,010.106
287,844
+
-
1.4
V 181,471,308
563,449
,
+ 42.3
523,437
+
547,650
■
,
'
802,010
302,687
316,940 ;
974,506
714,863
■
j
1,888,332
198,360,800
•
+26.2
549,241
*.
291,767
569,658
$
605.878
$
+ 69.0
262,697,525
1938
1939
%
+50.9
1,620,425
i
years:
Ending August 30
2,738,467
...
___
106,909.016
+ 41.0
+ 26.9
Federal Reserve District—Boston—
Bedford
113,716,888
+ 33.8
104,522,327
■
;
River
417,796,138
«
64,102,551
147,366,653
179,442,642
1
_____
131,538,551
136,120,488
+46.7
:V.
128,244.647
131,961,903
detailed statement showing last week's figures for each city separately for the four
our
at—
i"
+ 29.3
•'
10
3,075,986,747
■■
370,322,382
+51.3
460,511,295
$
New
'
Springfield
2,894,317
,
_
Worcester
____
New
R.
I.—Providence
N.
H.—Manchester
r.
+34.7
10,204,361
3,516,418
+ 37.0
10,337,300'
+
•
8,844,163
4,999,381
1,620,627
:
-
3,651,082
.
13,824,300
10,090,000
2,831\595
1,693,472
2,707,246
+ 36.9
-
1,751,685
*"'
11,917,113
Haven
+12.2
+ 27.0
2,580,455
2,224,153
__
Conn.—Hartford
..
-
;
1
i
10.750,321
,
(3,410 815
7,907,900
r
"
'
587,036
505,478
,
.
-
+16.1
.■*rL4,t
579,626
'-!•>•
•
N.
cities)
(12
Second
factories
Federal
$
District—New
Reserve
Y.—Albany
304,424,856
$
14,880,940
_
_
_
-
__
-
__
393,258
867,085
Montclair
N.
—
2,292,624,561
8,712,539
1,072,560
26,000,000
1
478,429
-1
Total
(12
Third
+ 33.1
2,984,029,515
7,602,321
3,634,579,495
+ 33.3
6,741,874
3,954,981
+ 22.2
3,310,774
3,101,066
18,751,215
$
' V
^
_
$
397,159
Lancaster
______
•
435,935
471,205
20,198,079
"+38.0
f
:
$
1,036,356
+ 38.7
.
+ 46.2-.
J'
2,019,303
1,311,428
-
1.097,096
1,099,730
+43.8
2,234,800
+ 184.2
•+
.
;
(
•
486,028
324,273
1,416,911;
1,009,184
329,000,000
1,166,297
2,422,231
+ 19.5
(,
421,884
354,000,000
+ 33.9
2,239,417
1,581,830
$
612,160
V„450,126
344,000,000
1,201,439
6,350,700
V
$3,075,986,747
465,161
+30.3
+40.1
Wilkes-Barre
J.—Trenton :
17,045,926
g26,329,778
.
$3,734,600,048
—11.4
.
'
Scranton
York.
;
:
)•
448,048
';
1,608,249
_______
% •' \.n
979,254
:-+
"
1,437,480 "
503,000,000
—
________
T
24,564,052
288,763
1,275,991
404,650
'«
$2,376,742,837
■/if•'
i'-iii-lw--
:__
.
+31.8
+43.4
15,368,098
$3,279,726,450
_____
_______
Philadelphia
Reading
+ 12.9
353,116
"
District—Philadelphia—
Chester
»
3,570,252
3,703,470
1
cities)
Reserve
.;
608,426
+ 23.7
26,888,558
Bethlehem
N.
-
788,003
1.7
6,247,031
20,252,931
J.
Federal
Pa—Altoona
alleviating food shortages in France
by the disclosure that during the 194041 season France received 300,000 tons of fruit and ve¬
getables from Tunisia, Algeria, and Morocco, and that
wheat from Algiers carried the French through the crit¬
ical period perceding the harvest.
The colonies are to
483,488
+ 61.7
—
3,648,821
398,706
-
|
969,544
4,514.185
'
'.
Northern,
Africa in
$
1
32,000,000
$
4,524,842
Newark
indicated
6,538,553
|
.
-nrrr-tr
8,325,135
:
;
___.
Conn.—Stamford
rationing throughout France, the
has ordered examination of the
603,295
212,928,326
6.4
"-+
909,428
636,023
_
York
Syracuse
J.
S
V-,
+50.3
+283.9
3,876,754
30,000,000
852,246
-
__
Rochester
N.
$
3,152,435,449
__
Jamestown
"black markets" which
'
45,100,000
Elmira
231,521,815
%S
+ 42.7
213,372,572
967,594
Buffalo
New
$
.
York-
Binghamton
■
soya
/.
212,928,326
+57.7
128,512,574
675,340,255
__
Dec.
foodstuffs, particularly to as¬
certain supply sources and wholesale prices.
Mass ar¬
rests are reported in the occupied zone.
The German
authorities have asked the Vichy Government to or¬
ganize day and night patrols of main-line railroads in
order to curb sabotage directed against German mili¬
tary and supply trains. The role of the French colonies
produce
1938
$
231,521,815
$
+46.6
'
292,313.505
"
Mass.-r-Boston
an¬
Department
was
/.
1939
i'"/ J-
+38.0
354,404,789
^
"
7
City
Portland
books of many dealers in
in North
4-:/;-^
%
+42.7
,l:
2,376,742,837
;'p
194,391,119
—1
First
raw
the
Inc. or Dec.
213,372,572
$
.18
1—_—.
a.
Me.—Bangor
in operation
in
materials.
In dealing
'with these and similar problems of a managed economy,
the reorganized professional committees will receive
greater power and will be assisted by subcommittees
.composed of employers, technicians, and workers, and
by regional prefects, who will deal with agricultural
and industrial production, supplies, labor and transport.
In
Atlanta
Dallas, 26.9% and
CLEARINGS
BANK
.10
—_______.
—
Y.
N.
Total
of
"
6
6
Clearings
yThe British blockade is reported to be causing a re¬
duction
District.
the San Francisco
in
461,105,994
Francisco
We
J;
imposed.
France, due to the dearth of
the
in the Mihneapolis District, and 48.1%
District, 41.0%
OF
519,606,904
Canada
50%; if total payment is 8%, the tax is 100%; if
9%, the tax is 250%; if 10%, the tax is 300%; if 11%,
the rate is 350%; and if the total dividend exceeds 11%,
tax is
the
in
City, 33.8%.- : In the middle west and far west
betterment was reported, gains amounting
in the Chicago District, 46.3% in the St. Louis
4
i
__
Total
Outside
-tax is
400%
in
Gains
substantial
3,279,726,450
.
„
_
Louis
12th San
1940, provides for a maximum dividend of 6%. on issued
capital of more than 500,000 guilders.
If extra or spe¬
cial dividends bring the total disbursment to» 7%, the
.a
"
"
Minneapolis
Fall
to
Kansas
51.3%
and
recorded.
less marked than in other areas, the
were
1940
"
.
11th Dallas
new
and
J
Chicago
10th Kansas
Sept.
on
Richmond
7th
and civilian population during the hard
dividend
city),
to 46.7%
304,424,856
7
.12
___
_
6th
German capi¬
tal issues, the accumulation of idle funds, and efforts
to hedge against inflation, prices of available German
shares advanced by 63% from 132.05 to 217.20 between
the end of Aug. 1939 and Aug. 29, 1941.
Bond prices
rose 6% in the same period, from 101.26 to 107.20. Reich
borrowing has been facilitated by the depletion of con¬
sumer
goods and of materials for industrial replace¬
ments, which have caused idle funds to accumulate in
banks.
Treasury borrowings during the two years of
war are estimated at around 70,000,000,000 marks.
Dutch
$
.10
___
Philadelphia
Cleveland
5th
Russian winter.."
Owing to the severe limitation of
also
were
*
ing gathered in large producing areas outside the battle
are expected to provide large food reserves for the
The
New York
2d
4th
zone
entire fighting
Philadelphia District
District
District showing an increase of 29.3%,
1941
.12 cities
Boston
3d
conflict, and Anglo-American assistance is relied
offset present losses.
Unusually good crops be¬
to
this
'
1st
yond the Urals are expected to provide supplies for a
-long
(including
last
over
1941
Districts
Reserve
in the
south
*
SUMMARY
45.6%, the bank clearings at
District
Reserve
gain
a
Richmond
94,996,430
71,461,975
Eleven
Russian ships from both Atlantic and Paci¬
fic coast ports to ports on the Persian Gulf, reserving
the Vladivostok route for aviation gasoline and other
York
'441.4
Cleveland
of
year of 38.0%. ' The Cleve¬
land District showed the best improvement with a gain
of 57.7%.
Increase of 42.7% in the Boston District,
41.6
"
■:
Baltimore
on
New
83,893,391
115,388,914
;
the
registered
75,113,563
118,586,082
—
-
Detroit
428.6
262,000,000
increase
an
the
,430.0
Boston
Anglo-British occupation of Iran, Am¬
erican manufacturers expect to be able to send military
supplies
$2,200,374,918
York
was
this center having recorded a gain of 33.1%.
We group
cities according to the Federal Reserve districts in
which they are located, and from this it appears that
Cent
Philadelphia
Chicago
the
of
result
there
Per
v,
1940
1941
-
4-23.7
New
Western
With the opening of a new supply route to Russia
. .
•;«•/•
%
a
present
we
+10.9
;
+V
1,289,841
v
1,845,087
}
1,119,680
933,471
1,183,916
1,625,772
■,jj
3,670,400
■ii
7,484,900
'!//.;/
"■j
Total
(10
cities)
$
519,606,904 .-'
<> $
+
354,404,789
.,;+46.6
$
370,322,382
$
...
■
'
■-
Fourth
Federal
Reserve
$
Cincinnati :
beans and alfa, and will receive increased
sugar cloth and machinery.
•(
District—Cleveland—
Ohio—Canton
14,749,600
-
;
,
+ 46.7
$
+ 40.0
.89,512.302
+27.1
+ 58.3
•'
.
.
•
^
*
i
i
1,837,160
10,544,800
1,407,563
*.,
■
$
53,565,554
+ 69.4
340,605,940
;V;'
2,338,362
11,607,300
53,120,420
101,101,861
,
■
.*
1,947,117
/:;•
74,361,258
171,281,132
:
'
■■
$
r-
,:
Columbus
■'
2,817,044
;
Cleveland
quotas of oil, tea,
■'
51,394,807
V
78,511,120
;.
,»•?(-
j
10,454,800
"
.
Exchange on the Latin American countries was fea¬
tured by a rise in the Cuban peso to a new high for the
year at 99.69 in Wednesday's trading, which was attri¬
Mansfield
Youngstown
that
Total
28 Federal Loan Administrator Jesse Jones
the policy of making substantial (loans to
Latin American countries would
soon
be resumed.
(7 cities)
Federal
W.
Reserve
-
-
__
S.
C.—-Charleston
D.
stabilize
Mexican
currency,
assure
Total
stabilization loan of $3,000,000, Ecaudor
one of $30,000,000, and Mexico from
$30,000,000 to $50,000,000*
Colombia has already received a $12,000 000.
a
„(Continued
on
Page 47)
V /
•
••• i-«
*'
\
(6
+57.7
>
1,869,764
,
$
278,.753,512
107,763,832
;;
(
>
$
253,482,006
516,675
•
+ 53.7
2,602,000
$
794,087
+ 31.1
2,263,000
2,300,000
+ 43.4
44,742,839
44,870,868
.39,972,087
1,085,658
389,407
+ 35.8
288,463
1,080,643
100.203,489
$
Reserve
Nashville
:
-
_____
$
_,
1,127,286
Macon
_________
Ala.—Birmingham
$
$
5,474,744
131,961,903
$
2,706,337
$
-128,244,647
3,685,082
.
+ 48.6
3,619,848
17,088,225
+ 45.8
16,365,432
15,947,219
+
9.4
48,700,000
45,100,000
1,099,163
+ 52.6
1,277,448
852,378
+49.9
837,594
851,736
16,572,000
+ 36.2
13,157,000
13,474,000
23,573,769
20,341,550
+ 15.9
-17,596,150
15,832,383
+ 77.1
'1,494,651
1 '
____________
cities)
$
54,400,000
.
.45,316,005
1,677,411
••
—____
2,987,310
108,747
_____
Miss.T-r-Vicksburg
Organs
+ 51.3
128,512,574
20,823,419
1
— __—_
__/
.—_—...
Mobile
(10
194,391,119
58,834,611
■f
22,572,000
!
Augusta
Total
20,942,996
59.500,000
Fla.—Jacksonville
-
62,543,018
+ 47.7
24,917,941
_____
Ga.—Atlanta
La—New
+ 58,5.
District—Atlanta-—
_
__
63,225,176
21,110,978
___
1/
$
187,405,375
1,686,469
'.
.
'•
$
•
144,955,608
1,038,904
978,600
1,550,092
0.6
123,052
142,923
+ 55.6
108.106
29,122,635
34,101,"368
34,041,750
.+
)
ft+29.3
$
/ovr
136,120,488
•i"
2.278,816
-
119,532,273
.
31,189,741
cities)
Federal
Tenn.—Knoxville
open
seeking
ii.
C.—Washington
Sixth
ation in economic and military
hemispere defense pol¬
icies, and settle the oil expropriation controversy. An
to be
+59.0
I?
292,313,505
-J
+ 54.5
1,241,531
"
cooper¬
credit has been extended to Mexico to buy planes
and other war supplies, subject to United States
Army,
British, and Russian priorities.
Colombia is reported
$
1,474,012
Mdi—-Baltimore
is
to
»■
57,318,790
States
was disclosed in Washington that the United
negotiating currency stabilization agreements
totaling $125,000,000 with Mexico, Colombia, and Ecu¬
ador, and is preparing a comprehensive agreement with
+
3,411,000
_____
Richmond
On
461,105,994
'
1,390,457
District—Richmond—
Va.—Huntington
Va.—Norfolk
Sept. 3 it
Mexico
$
_____________
2,258,135
120,871,059
192,178,738
Fifth
On Aug.
..'
3,489,794
Pa.—Pittsburgh
buted to prospects of increased sugar sales to the United
States.
stated
2.228.428" '
i_.
>*>'71 ni'
$
131,538,551
:s
Volume 154
FINANCIAL CHRONICLE
Number 3977
.
47
•"" I
'
Cleavings at—'••?•,
;
'•
v/.V''''"
'.•c..
#sh*S<~v
Week
•'',(* J' "•*/
Ending August 30
licenses
^nder
1
Federal Reserve District—Chicago—,"r
Seventh
Arbor
Mich.—Ann
318,092
Grand
Rapids
*
1,970,523
Indianapolis
South
Bend
Terre
■
23,104.000
-
Haute
!
+55.5
95,145,810
•
v
+ 30.0
4,556,455
+52.5
1,743,804
902,181
15,857,000
16,429,000
1,611,343
4,837,428
+30.2
21,883,126
17,761.167
3,473,124
1,408,891
+ 23.2
4,433,165
on
Japanese
purchasing office.
3.739,648
19,879,572
17,738,375
'
Ia.—Cedar
-•Des
Rapids
Moins
Sioux
l
.
1,396,658
410,382,340
Chicago
Decatur
1
*
j Peoria
Rockt'ord
..
Total
;
\
,
.
'
-L-i.---
(.18
cities)
...
Federal
•
,
,,U
;
j
Reserve
t'K
•>.
District—St.
ur
:
-
675,340,255
1$
.
i
•
'
113,200,000
$
661,000
$
.
+ 20
WM-
+ 46.3
127,118,830
$
and
closed
101,902,576
68,101,699
+ 49.6
26,546,228
+ 25.0
.25,377,341
2,663,765
2,299,163
+ 15.9
2,188,444
$
_
+ 32.0
871,804
1,150,617
I'':'.
1,087,121
$
3,419,242
/ 73,502,889
'
700,481
694,478
2,313,348
1,984,490
+ 41.0
104,522,327
$
147,366,653
S
cities)
$
the
System
Federal
Reserve
District—Kansas
the
Kan.—Topeka
+ 22.0
+ 43.2
2,640,766
Wichita
27,023,979
25,795,152
2.018,152
1.754.543
Colo.—Colorado
Springs
+
2,744,899
94.389,126
+ '•••
+ 34.8
83,997,244
2,700,229
v..
+ 32.6
2,439,764
606,580
506,502
+ 19.8
330,713
537,996 5
+ 60.1.
549,915
437,454
+;>,
'•••+■
Chicago
'
.
Aug. 27 Sep. 4 Sept. 3
1941
1941
invest.—total_l_
and
76,412,501
1940
indust.
agricultural
Open
$
Aug. 27 Sep. 4
1941
'
12,270
12,157
1941
3,537
2,765
2,375
1940
to
Other
3,393
loans
&
$
2,701
2,711
2,303
897
880
617
1,691
660
€55
433
...
81
77
31
31
22
325
281
43
31
27
160
162
53
53
59
22
22
18
88
88
~~58
paper79
brok.
S
....
1
loans
market
Loans
and
$
.
9,599
3,695
Commeicial,
'
V''
$>,f •'
Loans—Total
433,981
861,497
Loans
2,368,154
_
'
'
Dollars)
'
1,453,789
'
_'
WEEKLY REPORTING MEMBER
Sep.3
■■•
•;■•'/'••
\
Assets—;/
2,682,032
127,267,573
City
Josepn
Pueblo
1,296,961
+ 84.0
3,581.846
Mo.—Kansas
St.
152,547
+ 15.0
2,296,584
4,225,898
_______
OF
Millions of
New York City
2.221,208
+ 26.9
___
of
City
BANKS IN CENTRAL RESERVE CITIES
132,741
205,521
1,921,991
6250,000
York
and also for the
:;.'rv.
103,329
29,747,179
/\
________
New
"
2,753.111
Omaha
..
+
$
92,241
$
37,761,378
Hastings
Lincoln
-
+ 37.7
84,702
$
116,607
$
+
of Governors
the
member
ASSETS AND LIABILITIES
/
City-
Neb.—Fremont
for
current
of
106,909,016
$
109,154,806
statement of the Board
Reserve
Chicago member banks
week; issued in advance of full state¬
banks, which will not be avail¬
able until the coming Monday,
+
for
ments
780,067
803,713
9.5
+
Federal
member banks
24,320,089
2,207,761
+ 25.4
866,899
3,160.055
3,459,716
$
•<•/>+?'"(In
Tenth
Friday at 5.40, against
on
Chicago—Brokers' Loans
Eelow is the
•
the
__—
(.7
$200.
yuan
113,716,888
;
Total
be taken from the
may
blocked country has been
a
on
567,000
54,000
121,878,690
$
33,173,701
•
central
a
13,206,554
2,645,131
75,126,348
D.--Aberdeen
Helena
29,543,334
14,561,035
+ 46.8
Mont.—Billings
♦
as
Returns of Member Banks in New York
70,400,000
31,473,655
2,676,479
D.—Fargo
S.
75,300,000
+ 49.
■551,000
•
>.
3,929,157
Minneapolis
417,766,138
District—Minneapolis—
st,, Paul
.
N.
;
$ ..186,035,374
Minn.—Duluth
/
$
468,549,225
$
+ 56.0
:i V:'
r.'.p/.'v."15,160,921
'
Reserve
1,405,266
i.'
,..+42.0
531,706,909
22,699,831
cities)
Federal
Ninth
"
act
Friday of.last week.
The Hongkong dollar
closed at 25.35, against 25-5/16; Manila at,
49.85; against
49.85; Singapore at 47%, against 47%; Bombay at 30.31,
against 30.31; and Calcutta at 30.31, against 30.31.
1,036,920
1,156,731
,
5-5/16
3,578.295
.
Shanghai
to
'
v
>',79,700,000
:••••-
49,474,743
_
£
(4
,<
,
1,270,220
'
+ 46.7
460,511,295 <
'
renu.-rrM.emphis.
11.—Quincy >
Total
+57.5
V;
The
762,924
which
national of
a
and
trade
Louis—
Louis v
Mo.—St.
Ky.—Louisville
,
expenses.
licenses
of money
reduced from $500 to
659,514
279,269,699
•
I,, 3,621,062
v
:
.
Eighth
Philippines by
401,265
+13.7
•
The amount
2,975,264
898,491
;•
.
+19.6',;+;
1,337,969
995 036
8,787,334
304,904,106
■'
+22.3
1,215,783
v
;■./
+39.7
,•/
"
1.521,791 ,7
$
___
>.
_•
7;
+19.9
3,798,464
ri
1,914,873
_
.
1,006,839
2,913,625
.>■
•
+38.2
:. + 46.9
'.
908,519
••■
4,543,470
;
i«; Springfield
279,297,917
1,111,488
"
"
■
;.
,
319,727
446,751
111.—Bloomington
'
"
7,185,770•
3,579,328
4,290,519
8,381,776
V +27.8 •
l,093,064,v'. yt-
'
■
9,930,770
__—
City
,
month for living
a
receiving
strictions
:
Wis.—Milwaukee;;.
yen
for office expenses,
permitted to sell dollars in exchange for yen.
are
A general import organization has been formed in the
Netherlands East Indies to replace imports lost by re¬
1.072.317
1,291,122
+ 28.2
? 6,298,522
2,065,564
and
797.122
--•+39.4
16,570/(06
also
tre
73,477,0)5
+ 35.9
+
-■
the freezing regulatioris, permitting with¬
drawal^ up to 1^000
184,394
1,245,810
1,449,454
1,899,831
-
•
:
1938
$
186.001
!
$
3,265,581"..,.:
4,245,213
__—
Wayne
Lansing
fnd.—Ft.
1939
Dec. %
or
+ 19.5
114,715,173
177,954,853
'
•
Inc.
X
.
379,963'..
$
Detroit
^
1940
1941',
dealers
462
'
Total
(10
$
179,442,642
$
cities)
+ 33.8
134,144,373
112,040,341
$
121,269,029
$
pur.
or
securities—l-
159
loans________
110
109
124
banks_____—___
35
34
38
453
392
carrying
.
for
;
■
Eleventh
Federal
Dallas
Ft.
65,891,629
52,-225,905
5,382,411
+ 45.1
1,803,000
1,894,000
Wichita
1,190,844
Falls
-
2,491,465
La.—Shieveport
'
' ; V
:
'
y
'
.
2,181,i60
loans
3,085,000
y■
i/;
689,652
2,770,555
2,547,632
63,222,637
United
63,811,106
853,442
States
Obligations
U.
S.
Other
Total
(6
cities),
v---.
81,328,680
$
._
64,102,551
$
\-ly (/
+26.9
$
_________
59,763,406
Yakima
Lake
■':
:
25,618,912
•
__r-
+ 30.0
r
135,245,151
+ 49.5
148,109,000
2,690,231
+ 36.7
3,133,864
+ 54.9
1,272,868
1,192,488
2,129,561
+41.2
1,921,535 '
2,154,163
;v ' •:
3,125,252
Stockton
3.007,927
'
Total
Grand
(112
Outside
New
$
cities)________—_
350,798,247
$
+ 48.1
.
$
247,348,070
$
$4,637,612,850
+ 41.6
$6,014,720,605
+45.6
$2,380,123,110
Ending August 28
Inc. or Dec. %
*
1940
Other
Capital
$
104,885,589
96,174,780
+ 31.6
108,939,316
+ 82.3
56,297,573
38,250,747)
Vancouver
29,718,381
15,826.729
14,497,211 j
13,716.504:
2
Pacific
13,588,168
2
Boston
4,125,757
4,688,242,
1
2,087,268 yy.:.
2,310,812
2000
Ottawa
•■«'
4,813,264
___________
+68.7
17,615,347
28,228,231 -
35,704,734
-
3,185,594
Hamilton
6,186,107
1,666,453
-
'
y " 932,883
:
'1,087,794
i' '• * * v.-- 958,413
'V
.
1
*-i
"
y;
801,934
•
1
••
475,259
694,152 (y'y
•••-;:
+ 67.9
197,938
+ 34.5
802,301
■
Total
1,223,777.
(33.
cities.)+
$■••384,922,904
+43.0
.
.!
Sterling Exchange
(Continued
s
from
Page
j, $
Q]
'
46);
Export-Import Bank credit and is said to be negotiat¬
ing for $20,000,000 of Lease-Lend aid.
The Argentine Ministry of Finance
Wednesday
authorized the Central Bank to assure importers that
.there will be sufficient:dollar exchange to acquire raw
materials and other essential products from the United
States until Dec. 1942.- Argentine import restrictions on
motor vehicles and parts were removed on Sept. 1, leav¬
ing only luxury articles, comprising about 10% of Ar¬
gentine imports, subject to restrictive quotas.
Argen¬
tine importers will be able to buy exchange for trucks
tat,422,89 pesos per $100;and for motor cars at 485 pesos.
Previously a single rate of 455 pesos was used.- Re¬
•
of
the
trade
the improvement
balance/ which
Tirst 7 months
'derived
restrictions
was
on
made
possible by
ib Argentina's favorable foreign trade
arriounted ta 237,000,000 pesos' for the
di 1941,, of which. 190,000,000
from' trade
,'v The Argentine
with
the
United+States.
pesos
+;
was
^^ ,; >/
unofficial or free market peso closed
585,507 .,t., y.i1
268,318
+33.7
V
608,757
,
••,
/'
+16.3
+23.6
568
267,079
:
590,465!
.
;-
.
y-.y
488,551
y
+i2.o
.
+37.8 y
,
$
490,577
344,480?
288,895
'•
370,656"
7i:
1
7
6
286
14
14
13
1,520
1,516
1,495
276
275
256
"
-vU
SALES
J
/
Stocks
,/",
$ per share
1714
$100
22 Va
________
'
14 M*
Trust
(Tpuraine)
lot
$100
par
2%
Butters
Lumber
Co.
com,,
$100
5
52
l'/a
9814
lot
par
j 4'4 lot
_______________
999,346 .JiVJ-
338,112,390
■1,100,065
.
f.
$
The Mexican peso is
against 20.70.
307,866,799
•
/
balances
reserve
member
bank
ended
September
decreased
reserves
of
member
banks
September
on
approximately $4,860,000,000,
$130,000,000 for the week.
/y
Changes
lated
\
Premier
Konoye had written a personal;
letter to President Roosevelt seeking a solution to out¬
standing differences, although the Premier gave warn-,
ing Thursday that Japan faces the gravest emergency1,
•in her history.
The .Japanese Finance Ministry an-i
nounced
on
Thursday that permits will not be required
dividends, interest, patent royalties,
premiums
to
designated
foreigners*
for-payments ;.of
and + insurance
abroad./- Such payments are to be deposited with, the +
Specie,. Bank.
After a month of financial'^'
stringency, American residents in Japan are receiving
Yokohama
3
be
to
bank
in
bank
member
were
a
balances
reserve
estim¬
decrease of
and
re¬
items
during the week and the year ended Sept.
3, 1941 were as follows:
\
.
that
member
money in circulation and $22,000,000 in Treas¬
cash, and a decrease of $40,000,000 in Reserve Bank
credit, offset in part by increases of $6,000,000 in gold
stock
and
$2,000,000 in Treasury • currency, and de¬
creases
of $64,000,000 in Treasury deposits with Fed¬
eral Reserve Banks and $10,000,000 in non-member de¬
posits and other Federal Reserve accounts.
Excess re¬
serves
Exchange on the Far Eastern countries is firm despite |
heightened political tension.
Trading in the Japanese
yen was suspended on July 26.
The Shanghai yuan re¬
mains at the level of 5.55, to which it rose last week
news
3
114,000,000.
Reductions in
from increases of $135,-
arose
ury
ated
quoted nominally at 20.70,
:
week
000,000 in
at 23.75. against 23.85., The Argentine official peso is
pegged at 29.77.
The Brazilian milreis closed at 5.15,
against 5.15.
Chilean exchange is nominally quoted at
5.17, against 5.17.
The Chilean export peso is nominal¬
ly quoted at 4.00.
Peru is nominal at 16.00, against
on
617
264
Reserve Banks
447,762
•'
.
+ 25.9
279.272,138
16.00.
'•
1,011
275
During the
2,311,251 1
2,441,003
.y
•'■ '•••:
1,092.803 \
„
1,055
The Week with the Federal
970,808
'
+18.3
486,353,
:.•/,
1,059
582,539
656,950
818,286
326,259 '
480,680
Course Of
moval
•;
v.
621.132
Sarnia,__
Sudbury
-
E
680,674
::
Chatham
654
3,654
3,814
____
533,710
471,280
3.7
•>
'
•'
Kingston
94
3,791
.
.
__L__566
196,369
307.421
'
507
95
563,992'
685,440
691.4601
y
"
1.067,717
1,953
492
95
542,302
2,638,006
363,608
2,251
492
35
1,141,371
514,361
8.4 '/.y
603.341
-913,563:.
-
Moncton
4
466,726
1,041,643
+
.
" 832.579 y/
•
3,771,201
Albert
v2
;
565.213
199,962
':••• ' ••'::
:
-
2,252
730
89
Bldg. Trust par $100
Puget Sound Pow. & Lt. pfd.
Springfield Rwys. Cos. pfd. par $100
New England Wat., Lt. & Pow Assn. pfd. par $100
Terminal Hotel Trust par $100 ___________________
Butters Lumber Co. pfd, par $500
63
341,847
+ 71.2
y
'
Prince
3,774,625
3,658,346
299,759
:.
■
9,672
764
Paddock
+33.3
'
»1,000,000
••
-
Hotel
2
,+ i5.6
V
478.369
718.780
685.125
Peterborough
4
3,445,519
■
701,073 •:- I .';+33.t•'
"+35.6
*-^802,143 (
-
yvyyy
•v:'y'+ 335,766
Sherbrooke
100
4,080,893
'
10,965
—
1,666,845,
'509.269y
/•
_______
Windsor
35
.
46
Provi'dence R.R/. Corp., par
unit Washington Rwy. & Elec.
Woodyard Assoc., com.
Woodyard-Assoc. 7% pref. par $100
2
2,062,322
+ 36.8
1,149,987 1
,v;.
518,528
'
Kitchener
1,584,557
1,925,611
+ 34.0
369.863
633,334
1,329.654
<•:
:
__________
Hat
1,436,691
+
'
282,500
Lethbridge
Medicine
5.9
+ 22.7
V
259
42
Mills
4,349,074
y
43
277
-43
.
&
4,309,836
1
4.073.891
378,676
I-■_ / / _:
1,469,160
3,685,230
*5,000,000
Regina
Brandoi
Jrandon
Fort William
+24.6
2,042,790
"'5.042,137
________________
4,076,430
4,055,405
V.
*
1,573,434
2,505,492
Victoria
•
+ 20.8
+ 58.8
1,617,612
/ "
40
279
107
________
■-./+
Shares
+23.3
4,475,354
.
v
104,623,228
/:■
5,119,301
••_
2,016,274
y.
•
"
+ 11.0
2,583,489
•.'
7,105,459
Calgary
+26.5
4,338,211
'
Halifax
$
41
81
324
.
The following securities were sold at
auction on
Wednesday of the current week:
By R. L. Day & Co., Boston: ■;V^
+ 31.8
$
90
323
AUCTION
1938
1939
84
93
r 315
84
-
accounts
.)
Westminster
1,189
liabilities
/
New
356
1,119
•
Foreiegh banks
Borrowings
29,681.402
John
banks.
.
banks,
77,632,455
Brantfordv£__
375
1,131
■
83,408,653
Jaw
143
366
6,401
88
dom.
deposits.
deposits: "■
>
54,118,240
Moose
159
1,436
5,302
Government
S.
102.134,098
109,945.775
$
Montreal '
Saskatoon
158
1,554
5,257
deposits—adjusted 10,978
deposits
762
Winnipeg
Edmonton
1,373
1,544
$2,.192,525,164
1941
Toronto
with
Domestic
$5,176,554,679
$2,344,988,289
Week
London
1,857
1,854
.
assets—net
Inter-bank
219,494,973
$3,414,537,300
'Canada—
St.
158
728
U.
'
236,911,589
$6,566,972,749
York'__^
Quebec
301
116
820
Time
'
,T-T,
cities)
361
115
820
Demand
2,992,708
136,114,000
"
1,435,852
(10
345
1,047
2,655
the
Fed. Res,"banks__
Liabilities—
2,993,795
927.242
3,676,233
Barbara
Total
323
1,443
3,176
vault™,
in
Other
3,745,681
3,201,888
2.399.493
.
Jo^e
Santa
by
guaran.
Government-j_-^_u
Balances
12,129,839
4,035,796
4.697,084
3,119,982
••
•
Cash
1,018,118
15,005,118
+ 40.7
w
31,535,269
1,279,281
31,640,630
+ 29.3
•13,721,822
$
:,,v?
37,824,726
$
+27.9
+ 46.8
yy ••••/
202,257.000
Beach
San Francisco
San
+53.6
"
36,440,100
17,739,005
City
•
1,249,047
53,504,173
Pasadena
•5
38.907,054
$
1,597,585
Calif.—Long
590
548
1,442
Liabilities—
Ore.—Portland
Utah—Salt
;
-
3,187
___________
bonds..
securities
with
Res.
Twelfth. Federal Reserve District—San FranciscoWash.—Seattle
457
Treasury bills
Treasury notes
6,082,802
2,265,000
+ 39.7
/
•
Other
49,622,053
5.366,028
+14.2
852,691
y
;
4.8
to
.
50,824,296
+ 26.2
7,808,584
___
estate
Loans
1,620,177
$
1,307.106
+36.8
.
___
Worth
Real
++■»! .'V
'
.
Galveston
r
•;
1.566.384
$
2,143,158
$
T^xas—Austin
i- ■
../•..•.,5V
District—Dallas—
Reserve
■
.
,
.
Increase
/
( +)
or
■■
Sept. 3, 1941
■
*
■
Bills
U.
U.
'■•
..
discounted
S.
S.
2,000,000
(not
includ.
commit.—
.
10,000,000
credit_-_
Bank
.
credit,
_____
currency
bank
Treasury
res.
______
bal.
circulation
cash :
.
35,000,000
Non-member
F.
R.
—
22,722,000,000
deposits v &.
accounts-.
-
«
,
—
6,000,000
2,000,000
+r<?2,000,000
/•'
—f
—
1,000,000
7,000,000
249,000,000
+1,778,000,000
+
144,000,000
—
—114,000,000
+135,000,000
•+ ''
2,118,000,000
—
40,000,000
+
3,180,000,000
2,400,000,000
42,000,000
+
12,884,000,000
____10,034,000,000
+
___
—
2,241,000,000
Treasury-dep. with.'-Fed./ ••+:+"';■
((. Reserve .Banks jy.iia.+_ " ,?S08,QQ0,000<.
other
6,000,000
5,000,000
Res.
in
.
oblig.__
Stock
Money
+
248,000,000
adv.
Member
■$
2,000,000
2,179,000,000
September 3)
Other Res. Bank
Treasury,
+
12,000,000
________
oblig._
$13,000,000
Gold
Decrease (—)
Sept. 4, 1940
S
guar.
Govt.
Total
Aug. 27, 1941
'■
"
direct
Gov.
Indus,
-
.'•
640,000,000
+1,942,000,000
108,000,000
y- • •"■
-U i, 83,000,000
"••/
64,000,000
: *'
10,000,000
"
+
347,000,000
48
FINANCIAL CHRONICLE
Per
DIVIDENDS
?
■Section. 2)
.<Continued from Page 64
Saturday, September 6, 1941
*1'
V.
-
..y ;
1,
•'•.»/
•
i
"r
"f
*
Name of
.
Wright-Hargreave's
Company-% V,
Mines,
'•
When
Share
'
Holders
Pay'ble
•
JlOc
Ltd.—
10-
Comparative Figures cf Condition
of Rec,;
"
1
8-21
-•
"
Per
•
•
:
of
Shovel
Thew
Name
Co.,
7%
Company
Quarterly
Thompson Products,
$5
Co.,
Inc.,
Tokheim
Oil
Transue
45c
(irreg.)
common
Tank
&
Coal
Carbide
Co.
&
Co.
Gas
Union
8-25
9-20
9-10
$2
9-15
9-
2
25c
9-15
9-
2
9-15
37 '/2c
10-25
10-15
Coro._
Pacific
$11/2
__
,9-15
.
75c
l
Canada, Ltd., (quar.)
Nat. Bank. (Watertwn, Mass)
4%
R.
R.
preferred
Union
10-
$20c
United
Aircraft
Extra
.United
>
.
United-Carr
Elartio
Zion's
6%
N.
Railways,
United
U.
J.. R,
PaciTc
S.
U.
Co.,
preferred
S.
Leather
Petroleum
S.
Urtted, spates
9-
5
S.
U.
Playing
S.
Printing
United
U.
Tobacco
Truck
United
Steel
Utah
Utah
&
;
Power
&
30c
9-15
9-
9-24
9-
of
J75C
10-
60c
.
$1%
-
1
Elec.
y
9-
9-30
and
9-15
53c
10-
1
10-
1
9-°9
50c
$2ya
$iy2
50c
8-30
10-.1
10-
Co
t$iy2
10-
$1
*
1
lien
8-20
32c
9-15
9-
9-15
9-
2
25c
9-15
9-
3
(quar.)
East
10c
9-15
9-
5c
9-15
9-
6
i
9-10
8-18
■>
/, $ 1 y2
10-
1
9-28
10-
1
7% pref.
(quar.)_
10-
1
9-
•
Van
Dorn
Van
Works
Heating
Car
2
Preferred
be
Range
1
1
mtge.
&
6%
Corp.' 7%
6%
Theatre
pref.
5%
Corp. 1st
stock:
10
Gas
jukke
&
Erie
1
1
bonds
Natural
Oct
RR
C6.-+
Co.—
>/;•
-
mtge;' 3'f4s
' L
>
—i
consolidated
Corp.* 4y2% bonds.
Oil Corp.
4% debs.——
Scores, IncP;5% pref. stock—
Richfieid
Safeway
Sioux
•
9-10
8-30
$1%
-
8-30
9-20
9-10
12-10
75c
i
9-15
25c
X3355
Nov
9-10
12-
1
Southern
8-30
Natural
8-30
•Superior
(s.-a.)
$2 y%
10-
1
9-
8
$2 v2
10-
1
9-
8
9-15
9-
5
Inc.
5%
75c
——-
Vicksburg Shreve. & Pacific Ry.
com.
preferred
9-15
150c
$1%
—
10-
50c'
1
Wilson
Wisconsin
♦
9-20
9-15
Oil
3'4%
bonds——
Light Co.
|>ower &
bonds
this
Announcements
week
,
V.
152;
bonds—-
all other
9-
9-10
9-20
8-29
t
loans,
esti-
13,413,362
'
1
"
133,455,322
14,743,151'
87,742,524
86,494,717
Li 5,341,335
••
14,569,393
/ 5,501,168
;
6,767,690
y
6,813,710
7,521,089
V-*'
estate
bank'
than
"y 3,553,964
71,956,867
94,423,345
94,250,398
66,216,262
less
.
'K,.
v.t, * 1./:
A
,
writ-
any)
off
V. 153
of
70,331,352
3,939,955
at -not
v
cost
(if
;' 3,581,478
70,385,711
premises
amounts
teh
;; 7,983,929
r"
_______
real
on
113,276,220
.
•
than
other
premises
more
iUl>7
1^92
:
$iy2
.
gov-
1...
by
Bank?
1291
...
to
refer
'
-
—'
estate
sold
1
9-25
-
cities,
Mortgages
60
1
9-15
15c
38,764,161
925,197,994
and
XJ827
Sep 27
pages
44,621,745
—1,177,430,527.:. 1,191,085,437 U
134,883,531 ;y
135,960,282
-loss provided for
bank
,:1^87
1
-Oct
38,479,629
32,766,256
43,500,541 ' L
1111"""
to
Liabilities
9-
60c
•.33;819,578
'
loans
Provincial
to
mated
..
x
V v--.XLv^ ,1
Qovernment:^a'-\..t-,'%^
to the
Real
1
Oct
—
1st mtge.
y
- •
Canada
Non-current
X1586
—
Co.
Ly..,.
..
marketable
districts
1
—Oct
Railway & Electric Cb. 4% bonds—
—Dec
1
Cor, Inc.', 1st mtge. 30-year bonus—-ii—___—Sep 15
&
.
towns,
municipalities and school
999
Wasnington
(s.-a.)
——————-Victor Equipment Co. $1 conv. pref——
Victor-Monaghan Co., 7%
pref.
(quar.)
Viking 'Pump Co.j com. (special)
____0ct
mtge.
loans
stock3,
ernments
1286
——___
Co. (adjustment
112,720,004
Canada
Loans
&
Gas
on
current
Loans
X3355
Sep, 22
—:—_Sep 15
izi
154,012,237
94,452,476
(not- ex-;-"";-.
days)
X3365
——__i—,
bonds
153,219,886
>
94,092,563
short
disctS;, in
of
702
mtge.
.
151,745,456
stocks
sufficient '
Loans
1287
1st
"/■';• ■; /
•
—:r—
Elsewhere
1283
1137:
1
Co.
Power
Corp.
Adjustment mtge.
'"''yV•';.'"i"-',";.
than
other
Canada
Other-
'"L;,
Light Co.—See Commonwealth & •<
—L,—
" ""
bonds
i—
Oct
1
Service
Southern
-
i_——-
City
Southeastern
>'•; u " '*•' (
,'
bonds -and'
.other''"securities'' of- a
V
—-——Nov
Steel
1,309,312,513
1,440,785,181
'/'.y;:-,
//-V'
Elsewhere than in Canada
-r
——
140,814,393
154,687,178
1,434,718,644
| "Value to cover
56
consolidated : 5s—n—___—^Nov
Republic
25c
556
1282
——Oct
—
i'—.—
4s
157,800,289
'1T.;.J'" :"
debentures,
.
X3032
1
Nov
&
and
in
! 1280
•
•
Nov
1st
Canada
Government-r•' '
ceeding 30
X3355
8rl5
$1%
.Call
101
bonds
—
'
Co.
Gas
Works
debentures
First
(quar.)—
debs.
,
1132
bonds.—
34,254,573
;.
vL_
.
eign and colonial public
693
&
*.
Kingdom
Canadian
X2550
Coal
'42,035,560
39,103,505
>: securities
1273:
-,
1
1st" mtge.
Co.
Western
,;: j'
in
Canadian municipal securities
and
British, for-
985
^
1
mtge.
1 I
Railway and other bonds,;;.L'..:/
refunding bonds__Auv
stock
in
Provincial:
983
Oct
preferred
than
securities
<
4,127,513
2,336,938
7^—:
•
1st
bonds
batik-'"'.
50
19
107,661,267
:;'LL
2,523,075.
_____
Kingdom..,
and the United
684
1st
------Sep
1st mtge. bonds
Oct
Ry.
& Power Co.
Co.
Richmond
Water
First
received
(quar.)
Veeder-Root,
Iron
mortgage
4%
.
&
Ice
Co.—
pref,
—.1,
(quar.)'
Increased
&
York
Peoria
!
(resumed)
Tool
Co.;
Nov
——Oct
Corp.
Canada
United
where
51
'
Louisiana
Co.
Machine
Norman
Vapor
■
Iron
Y.
Oklahoma
2
t$iy2
Light
in
and
Dominion Government-and
1269
-
—
First
{
9-
N.
New
1
8-30
1
1
15
1
Nov
1
Oct 13
Battery Co/ preferred stock—_—L,——____—-Oct
1
Power & Light A 5% gold debs
—Sep 23
Light & Power Co. 1st mtge. 6s_——L
Nov
1
National
;
9-10
10-
&
Power
Corp.
Nebraska
*
9-10*
t$l%
&
bonds
Memorial
National
J
;
9-15
10c
Gas
Missabe
Keith
9-15
9-20
bonds__Nov
year
28,968,504
other
correspondents
.
3,750,924
.".
.
.
________
with
from
due
ing correspondedntsAlse«
'
12-29
t$2
20
—Sep
bonds—Oct
1953 "—Li.;———i_—_—_—-Sep
Electric Light & Power Co. of Balti¬
5y2s,
Tennessee Light
Masonite
1-2-42
$iy2
ing
the
.
Due from banks and bank-
50
Co.
Corp.
Power
Johns-Manville
6
10c
—
(Salt Lake City)—
will
194,413,616
3,700,122
bllls'v-^redis^'-^r.h^Lr-r-r7!.
Due from banks and
lmV
5%
Telegraph
&
Co. 3%-6% Preferred stock_—
Edison, Inc. 15-year bonds
Illinois-Iowa
,
25c
stock
com.
*.
200,348,146
,.
in.
in-
.
Page
19
Sep
Aniline
General
7%" bonds "
3V*%
Duluth
2
433/,c
bonds—
Corp.-*-See
Hydro-electric
Paper
gold
more
-
lien
States
-
Consolidated
9-19
9-20
Date
1st
Chemical
States
Central
9-13
Co.
Falls
Central
5
8-30
11-29*
1
Issue—
Corp.
G.
Telephone
Autocar
Central
9-20
10-
9-
American
Bellows
9-10
12-20
50c
*
*
,9-15
9-15
50c
and
I.
banks
X1591
9-15
1
1
secured,
,
made
balance
under
Owners
American
9-16
10-
2c
(quar.)
Company
Allied
9-15
t$3%
Co.
9-u
9-26
35c,
pref._:
called
9-"15
10-10
_
banks
other
Deposits
called for redemption, including
sinking fund provisions.
The date
indicates the redemption or last date for making tend¬
ers, and the page number gives the location in which
the details were given in the "Chronicle." V:'
8-99
1
list of corporate bonds, notes,
a
preferred stocks
those
8-29
9-30
.
counted
Below will be found
5
10-
Delaware—
of
77,432,815
i";■
Canada —216,300,690;
of other banks—
2,780,014
Canada,.
'"'L' eluding
5
9-
*
9-20
20c
——
Inc.
9,584,989"
—
"
for each share of Util. Stock & Bond
Corp, com., held. /■' :',■■■*•.■
,
•'k
Co.
-9,153,048
81,874,431
United States & other
9-20
9-20
spy,
(mon.)
Co. ,(quar.)^_
share
a
-#,767,828 " " *"
91,520,975
" -- -
.
of Canada*
Notes
4
9-15
1-20th
notes
of Bank
5,370,591
4,214,398
Deposits with Bank of.:.?'
5
25c
,
$8
preferred
(ouar.).
'"Utilities Stock & Bond Corp.—
f
Notes
9~11C
(quar.
Light Co.,
' LL_——_——
TCtal
2%., a Less British income tax.
5,933,938
3,219,110
Loans, to
v."
(quar.)—
of
Co.
remains at
$
$
3,192,217
:
8
common——--
Co.,
Refining
'
Dominion
9-26
9-15
Oil
\
:
*
.
July 31, 1940
6,575,611
"
—
8
_____
Home Fire Ins;
t
r-
JPayable in Canadian funds, tax deductible at the source.
Non-resi¬
tax, effective April 30, 1941 increased from 5% to 15%.
Resi¬
dent tax
Canada
Elsewhere
9-
_____,—.—______________
.Utah
dividend.)
9-
Paper Factories, com.,
Upper Michigan Pr. & Lt. Co. 6% pf. ,(qu.)
,'.9% pref. (quar.)
Upressit Metal Cap Corp. 8% preferred—
Cq.
5
9-18
Wall
Upson-Walton
12-
9-18
"
United
this
25c
(quar.)—
common
Wire
&
for
'
June 30, 1941
25c
(quag.)-.
Inc.
closed
not
.
foreign Lcurrencies — Cr'~".-..".'31,500,411'/L! 30,958,046
Clieques on other banks_
133,767,945 '
150,383,395
(quar.)
Foundry
Corp.
Co.,
I ines,
12-15
July 31, 1941
"k
■
4
______
Co.
prior
preferred
non-cum.
U. B.
books
the
DOMINION
THE
OF
<'/'
9-
Dmar.)
Steel
_____:
Assets
BANKS
CANADA
9-15
$1%.
Co.
5
THE
OF
62V2C
(quar,);„l,r—
Lithograph
&
States
S.
7%
Card
9-
CONDITION
OF
dent
8-20
,
10-1'
50c
;U,
9-15
50c
(quar.)
OF
(qui)
_
&
5Cc
STATEMENT
4
„
Canal
Co.
Inst,
of
8-30
v;.tOn, Account pf accumulated dividends.
■
5
9-
9-15
$iy4
common
Pipe
Mercantile
condition
fhe
compare
9-
pref.
(monthly)
7%
9-15
we
for July
8-30
50c
banks
9-15
(quar.)_
Co.
9-13
9-15
10-
$1%
reported
In
! "
Graphite. Co.—
7%
U.
1
50c
following
31, 1941, with the figures for
30, 1941 and July 31, 1940:
V/
?
June
25C
common
7%
Insurance
U., S., Gvp~um
..'
8-23
the
2
i_
<monthiv>:
R,. &
9-15
75c
In
Canadian
9-
___.
prior, preferred
United
9-16
1
(quar.)
Corp.,
Gas Improvement Co.,
preferred (quar.)
..
1
10-
(quar.)
Inc.
Corn.
preferr<H
Cooperative
•Transfer
,,,9-5
1
75c-'.''10- 1.
&
9-m6
10-
_________
United
Light
9-16
1
$2
Investments, Ltd.—
6% class A preference (quar,) _______
United Gas & Electric Co., com. (irreg.)
7%
preferred
(quar.)
_______
$5
9-10
1
10-
$1%
Qua r terly
Fuel
United
1
10-
2
1
Fastener
United
10-
0
9-
...
-United
(quar.)
Sept. 15 not Sept. 9 as
Youngstown Steel Door Co.——,
vv:. ,;r
Carbon,:,
-
.
1
Inc., com.
(quar.)
Products,
"
1
-
10-
___________
Food Stores,
preferred
common.-,
$l'/2
__________
(s-a)
Premier
$2.50
Co., common
15c
Co.,
2-
25c
Mfg.
—
preferred
8-21
9-20
.
Current gold and subsidiary coin—
—
9-15
Carbon
B
Payable
Corp.
(irreg. t
1
8-25
__
Forging
10c
i
9-22
1
10-
Co.-
Coach
&
10-
25c
Co.,..(monthly)
Youngstown Sheet & Tube Co., common
5Wo preferred A (quar.)
Youngstown Steel Door Co.
(correction)
8-23
$1
of
Market
Union
1
10-
9-15
1—-
Co.
Pump
Steel
Mfg.
Truck
7%
9-11
9-15
f—.—
(irreg.)
Corp.,
Jr.
Towne
Yellow
3
20c
preferred ;(quar.)
5Va % '*
11-
35c
Truax-Traer. Coal. Co.,, <}%, pref,. (quar.)
Union
9-15
$l'/4
'___—_
(quar.)
Co.____
Williams
&
Truax-Traer
-
11-15
75c
(irreg.)
*
1
,15c
-•
(Wm.)
Class
(ouar.)___——:—
Axle
Shipyard
Union
*■ 9-
■■■.—
Wrigley
Yalp &
(Scranton, Pa.)
common
preferred
conv.
Timken-Detroit
Todd
9-15
__
t
of Rec.
45c
Roofing
$1.40
$1%
•
-
Pay'ble
''
preferred
conv.
Tilo
./'•
(quar.)
preferred
Third Nat. Bank & Trust Co.
Holders
When
.
Share '
Extra
customers
'
$2.40
Vinco'
preferred
(quar.)———:—-—I—
Cprp. (quar.)
_
.——w——.
—
Virginia
Elec.
&
$6 pref.. (quar.)
Pr.' Co.,
—
<
.
under
as
Cold Bullion in
Virginian Railway Co.—
62y2c
6%-
preferred
(quar.)
preferred _(quar.)....
preferred
(quar.)
6%
8%
6%
preferred
9-25
37'/2c
9-16
1-17-42
37y2C
(quar.)
2-2-42
5-1-42
4-18-42
7-18-42
tutory rate 84s. 11 ^d. per fine ounce)
37 y2
———
1
8-1-42
$iy2
9-20
9-10
7%
$l3/4
10-20
10-10
50c
9-15
8-30
9-20
9-
9-10
g-'O
Waite
Amulet
Waldorf
Mines,.-Ltd.
System,
Inc.
Walker
(H.)
Gooderham
(quar.)).preferred
(quar.)
$1
Warren
RR
Warren.
(S.
Co.
"
&
5%'
&
preferred
Worts,
Washington Water
Wentworth
-Wesson
Mfg.
Oil
&
Pr.
West
Virginia
Western
Pulp
Exploration
Westgate
Inc
pref.
Co
"Westmoreland,
Inc,
-Weston
Electrical
.Weston
(George),
Co.
Wheeling
*
Steel
Corp.
(William)
6%
(quar.)
Products, Inc. (quar.)
Extra
'Wiisils,
(quar.)
Wilson ' Lines,
Winsted
r
6%
Gas:
-Wisconsin
Wisconsin
6%
pref.
Wolverine
Wood
1%
;
113,472,000
10-
1
9-
9-15
9-15
9-10
9-12
8-25
1
9-15
9-10
wk.
Power
Light
-
&
•
Co.
Co.
Steel
Co.
1%
Pump
conv.
prior
&
9-11
■>'
Note—The war in Europe
has made it impossible to obtain up-to-date
Even be-*
regular reports were not obtainable from Spain and
Italy, figures for which are as of April 30," 1938, and March 20, 1940,
respectively."
The last report from Switzerland was received Oct. 25;
Belgium, May 24;- Netherlands, May 17; Sweden, May 24; Denmark,
9-20
March
1
9-20
29,
9-15
9-10
8-30
9-10
8-30.
125c
10-
$1
1
9-15
9-30
9-15
29; Norway, March 1 (all as of 1940),
and France as of Aug. 22, 1941.
11-
1
10-15
reported
10-31
10-15
to
£919,279
$iy2
$iy8
10-15
9-30
$iy8
-
pref
9-15
8-30
12.91%
9-15
9-15
9-30
9-16
9-19
9-
50c
9-27
$1%
9-27
pounds.
1
9
" ^
9-16
y
9-16
times
$77/8
-
9-15
9-
8-27
9-15
$iy8
-
9-
-9-15
*
Gold
•'
"
8
8
8-27
ish
Bills
France
of
;
gold
holdings
have
been
revalued
about
few as
tails of
-
2.96
to
United
12,633,191
10,428,052
21,444,513
21,910,715
19,057,605
28,125,630
28,581,778
7,110
214,475
94,429,345
94,250,398
66,216,252
4,258,180
421,507,238
in¬
J
and
____
bank¬
and
in
Kingdom__
than
in Can-
the
United
payable
and
credit
foregoing
Rest
several ;
per pound, and s recently s September, 1936,
equivalent to the statutory pounds. For de¬
footnote to this table in issue of July 20, 4940.
11,783,635
1,612,549,076
-
other
Canada
banks
letters
outstanding
incl.
under
heads*
5,316,890
5,016,962
2,807,873
Dividends
1,517,381
2,749,452
>
133,750,000
133,750,000
133,750,000
________
.145,500,000
145,500,000
145,500,000
4,036,356,212
4,051,049,894
3,598,838 458
declared
or
reserve
Capital paid up
Total
francs
see
449,332,800
851,518,297
redis-
by
due
in
Liabilities not
years;
125 francs were
changes,
1,466,936,129
4,389
secured,
Acceptances
;
on^basis of latest valuation (23-34 mg. gold 0.9
equals one franc), instituted March 7, 1940, there are per Brit¬
statutory pound about 349 francs; prior to March 7, 1940, there
were
as
of
recent
984,330,908
in
and
unpaid
Bank
;-1
y.
banks
other
ada and
Kingdom
•;
holdings of the Bank of Germany as reported in 1939 and
"deposits held abroad" and "reserves in foreign curren¬
in
73,469,564
than
correspondents
the
include
The
62,631,421
-
30,648,654
day
bills
Elsewhere
'
9-15
.
ing
cies."
fine
$1%
$7%
tabulations,
as
136,767,127
440,169,245
from
to
Due
In
well as with the figures for other countries in
we shown English holdings in the above in statutory
periods
560,902,477
1,488,737,875
fixed
elsewhere
balances
£ 1,817,835, equivalent, however, to only about
(84s. 1 l'/2d. per .fine ounce), according:
order to make the current figure comparable
of
502,466,014
1,009,182,806
Canada
banks
.,
at the statutory .rate
calculations.
former
since
.
(quar.)_
of Aug.
8-30
20c
-'
the
8-30
.
t$2 y4
(quar.)
our
with
Accumulated
preferred
holdings
.
92,271,313
counted
to the Currency and Bank Notes Act,
1939, the Bank
England statements for March 1, 1939, and since have carried the
gold holdings of the Bank at the market value current as of the state- ■'. ■
ment date, Instead of the statutory price which was formerly the basis
of value.
On the market price basis (168s. per fine ounce), the Bank
10-15
L
84,144,726
!':■■/ •'
by
the
public,
after notice or
cluding
♦Pursuant
1
-v.-:-''•
67,279,794
demand'in
•Deposits"; made
<
of
11-
.
as
v
Fi¬
Canada
in
82,835,134
public,
the
on
a
Loans
1941;
$iy2
pref.
and Germany
2,243,171
3,616,628,360
pay-
the
Canada.;-
;
1,868,663
4,037,926,723
—
by
Deposits
1,066,631,352
1,741,264
4,054,264,766
to Provincial
due
payable
fore the present war,
1
pref
Accumuiated
1,066,449,569
1,081,429,387
Dominion,
____________
Act
Deposits
reports from many of the countries shown in this tabulation.
1$2>/a
preferred
1,080,670,440
696,347,763 700,362,909 905,924,385
9-i2
10-
Corp.—~
6,602,000
9-25
10-
—
Machinery
6,549,000
7,442,000
1
1
$iv4
(quar7)"I
7%
(irregular)
6,539,000
6,666,000
10-15
10-
(quar.)
—
Tube
6,500,000
6,667,000
11,119,056
deducting
Canada
in
>
9-13
l
Co, AVS%
6,505,000
6,667,000
11,035,073
.
credits,
payable
■
Wk.
1
4V27^
6,505,000
_
_______
under
Deposits
25,937,000
4,851,853
11,099,344
included
governments
on
Tot.
Prev.
10-
(1897)—""";
29,303,000
8-27
10-
20c
Co.
35,055,000
696,253,949 700,333,414 762,547,033
Norway
$1%
_2ZI
41,994,000
Denmark
(quar.)
;
41,994,000
&c.
Balance
8-15
9-10
10-
Sweden
3
9-20
"
84,758,000
to
for
nance
83,206,000
9-15
& Lothrop, common
preferred
(quar.)
Prior
96,779,000
1
.
Pr.
(Worthington
c
86,730,000
1
—
Michigan
(Alan)
4'/2%
Switzerl'd
10-
Woodward
t
9-15
9-15
10-
>
Electric
(quar.)
f
1
9-30
"4,928,770
foregoing
-after
adv.
xi r ■
4,534,550
L'_',
,
not
due
lists,
25,232,000
to
'••
Advances
102,341,000
10-
17,440,000
loans
circulation.-™
Balance
87,323,000
f ~
circula¬
assets
in
Notes
105,490,000
20c
Co.
(quar.)
&
63,667,000
25,232,000
$1,A'P
'•
Electrid Power
63,667,000
87,066,000
$1
preferred
Wisconsin
63,667,000
se¬
Liabilities
y.....
2,493,000
63,667,000
the
cos.
the
Total
293,250,172
,123,378,000
-
Wisconsin
3,008,600
Neth'rl'ds
$1
;
3,847,650
Italy L_— 16,602,000
75c
(quar.)
328,601,484
3,860,100
23,400,000
11-15
$1%
■
(s.-a.)
Co.
293,728,2091
242,451,946
and
assets
Govt,
3,883,000
—
of
under y
heads
328,026,397
.240,687,670
x
""
* "r
Other
a
94,083,000
50c
.
—
Inc.
Hosiery
Extra
327,834,631
for
note
controlled
1937
.
103,600,000
120 c
-■
-
4
'
:
Ltd.
,
'*
.97,714,000
50c
(irreg.)'
preferred
Willson
.*347,899
f
132,857,000
75c
—_
•Wieboldt Stores, Inc., $5 prior pref.
y
e
97,714,000
25c
—
Co., Inc. 7% pfd.
^1938
Nat. Belg 132,857,000
25c
$5 conv. prior pref.
(quar.)
.Whitaker Paper Co., common
(quar.)—
7%
preferred
(quar.)
Whitman
V;
8-25
lc
—
common
Spain
*447,368
*919,279
:
■■£
8-30
^2 tic
(quar.)__
Germ'y
'
9-15
;yi2f 1
$iy4
(monthly))
Instrument
'
1939
E
9-13
;
50c
(quar.)
Ltd.
9-20
1940;
,.
&
France y
8-22
9-26
9-29
25c
—
(s.-a.)
(quar.)
Oil
1941
of
Shares
by
15c
(quar.)
—
5%
Co.
Greenland
9-15
10-15
$11/4
pref.
Co.,
Bks. iof
;
Finance
curity
in the principal
of most recent
$1V2
::
$6
us
8-22
$1%
Westinghouse, Air Brake Co.———Westmoreland Coal Co. (Irreg.)
.
' 9-15
Co.—
Paper
&
8-15
75C
—
.West Indies Sugar Corp.
8-20
t25c
(irreg.)
Snowdrift
9-20
to
credit
tion'
special cable yesterday
(Friday); comparisons are snown for the correspond¬
ing dates in tne previous four years:-
England
———
Co.
Co.
1
9-15
.'
of respective dates
as
reported
statements,
,
2
9-20
<
t$l
_:
Electric
European banks
Ltd.—~
*
(quar.)—
(quar.)
"
10-
40c
_____
Co.
Washington Ry.
25c
$iy8
__
.
,
(s.-a.)
D.)
flOc
-
———
Common;
,
50c '
(interim)
Walgreen Co. common (quar.)
4*/a%
preferred, (quar.)
•
!
10-18
Vulcan
Detinning Co. common
(quar.)"preferred...(auar.)
——'
—
Waqker-Wells Building Corp.
(irreg.)—
Wagner Electric. Corp
—II
of
The following table indicate the amounts of gold bull¬
ion (converted into pounds sterling at tne British sta¬
11-
of
contra
Deposit with the Minister
European Banks f
37>/2c
———
—-—
letters
per
*
fund-
liabilities
-
Note—Owing to the omission of the cents in the official
footings in the above do not exactly-agree with- the totals
reports
given.-
i y
'thp
-•
1 1
@FedFRASER