Salt Lake Telegram | 1923-02-25 | Page 25 | Heavy Tone in Bond Mart

HEAVY TONE TONEt t IN BONO BOND MART NEW YORK TORK Feb 24 Bond H. Bond prices generally displayed a heavy heavy tone In today's brief market marke session In further fur tur- ther thor reflection of ot the higher hIghe mono mone money rates The decline however r. r was not as IS pronounced as yesterday some of the United States government Issues notably notably notably not not- ably Liberty and new Us recordIng recordIng record- record Ing small smal net gains pine while the losses In the others ranged from I 2 2 to 10 cents cent on 00 Acceptance of United States government government govern govern- gover- gover ment bonds at par In the tho payment of principal and Interest on the British war debt Is Ie expected to have a stabilising In ing Fractional Influence nae changes on this group prevailed le In the foreign list French Issues showing t further further fur fur- UT- UT ther slight improvement despite tb tb continued reactionary trend of or French Fenc cx exchange change exchange Speculative mortgages yielded the Ih moat moet In the railroad group Seaboard Air Line St. St Paul and Chesapeake A. A a Ohio liens Hens lens being conspicuously heavy Cerro de Pasco Peco Os 8 dropped Cropped 2 points were the outstanding weak spot In th the Industrial Industrial division where whereas as all Republic Steel is 6 and Magna Copper Copper Copper Cop Cop- per 75 were notably st strong ronI Total sales par value were ere Oboe OU CHILES CHILE'S DIVIDEND Th The recent dividend declaration of 52 UJ cents a a. hl share shur re by br Chile Chie Copper Copp r company I. I Interpreted as a stimulus for fo tl the conversion conver sion Ion of bonds Into outstanding Int common stock sock There nr are Ar In II 7 I per r r cut coat bond bonds fatting falling falInI due u. u Mar May 1 t next nest which are ar convertible Ibl at the rat r. r rate of forty shares of stock sock for each eb 1100 1005 10 bD bond The Th Is li new DOW ow calling for fo the tb deposit a of the bonds for conversion Into common stock Itol on this basis bI before February 25 38 U. using the Inducement of a Of 52 H cents a share shar dividend dividend divi divi- on the ike stock aa as A I. I lev lever to 0 discourage ih ih h. holding of bOi bonds bond to maturity for cash co redemption If 11 an Important amount of ot the Ih maturing bonds can ean cn be b thus them tl retired rt In common stock Mock sk lh tb ike Immediate falu financing ln problem confronting Un Chile Copper Coppe company Is gre ral I ly n. simplified