Article Text
Six Per, Cent. Gold Bonds The liquidators of the Bank of Commerce of New Orleans hold, among the assets of the bank, $10,700 bonds of the Cordova Coal, Land and Improvement Company. The total issue of these bonds was $76,550, of which some $1,500 have been retired. They are secured by over 20,000 acres of coal lands in Walker and Jeerson counties, Alabama, within thirty miles of Birmingham. Some of these are among the finest coal lands in the state, and the whole are worth from $300,000 to $400,000. A $600,000 cotton mill is in full operation on land given by the Cordova company and next to its present holdings. Interest at the rate of 6 per cent. is now running on the bonds, the first semi-annual payment being due in January next. The liquidation of the affairs of the Bank of Commerce has proceeded to a point which makes it desirable that the bonds held in its assets be sold, and the liquidators are prepared to receive bids for them for cash. They certainly offer a fine chance for a good investment in these days when many cities sell their 31/2 and 4 per cent. bonds at a high premium, and the 5 and 6 per cent. bonds of large corporations throughout the country are readily sold above par. Parties interested re invited to address Messrs. E. H. Reynes and R. G. Bush, Liquidators Bank of Commerce, New Orleans.