Evening star., 1947-01-10
SALE OF SECURITIES BY
The Cincinnati, New 0rIeuns and
Texas Poetic Ruilwuy Company
Notice and Specifications

Q) The Cincinnati, New Orleans and
Texas Pacific Railway Company (herein
after called the Company, invites bids
for the purchase of $1,700,oo0 par amount
of Equipment Trust Certificates, to be
known as THE CINCINNATI, NEW OR
WAY EQUIPMENT TRUST CERTIFI-
GATES, SERIES "K":
(a) Said Certificates are to be issued
under an AGREEMENT to be dated as
of February IS, 1947, between L. ]. Sulli-
van and R. L. Lee, Vendors, ]. P. Morgan
& Co. Incorporated, Trustee, and the
Company;
% The proceeds of said &c Certificates
cost of the following new equipment:
ID 100 all-steel 70-ton ballast cars,
(ii) 4-4,500 H. P. Diesel-electric
freight locomotives,
TO cost in the aggregate not less than
$2,140, 900, to be leased by said Trustee to
the Company BY LEASE dated as OF
(c) Said Certificates (cach of the par
amount of $1,000 are to be dated Febru-
ary IS, 1947, to mature serially in 10
equal annual installments from February
IS, 1o4S, to February IS, 1857, both in
elusive, to be guaranteed as to principal
and dividends by the Company, and to
bear dividend warrants at rate per an
mum to be named by the successful bidder.
payable February is and August IS in
each year, commencing August IS, 1o47.
(2) Bids are to be submitted in duplicate
on the FORM, copies of which are avail
able at the office of the Company, Room
2018, 20 Pine Street, New York 5, New
York. Each bid must specify the dividend
rate to be borne by the Certificates in .
multiple of one-eighth of one per cent, uni
f<r, Zoe ali n fnr lee
go per cent of par, plus accrued dividends
from February IS, 1o47, to the date Of
delivery, to be considered.
(3) Each bid must be enclosed in plain
envelope securely sealed, bearing no indica-
ton of the name of the bidder or the
amount of the bid. marked Bid under pro-
posed Contract No. u for The Cincinn i.
New Orleans and Texas Pacific Railway
Equipment Trust Certificates, Series * y,
addressed to the undersigned at Room 2018.
10 Pine Street, New York 5. New York. and
must be received on or before twelve o'clock
noon, Eastern Standard Time, January 23,
1947. Bids will be opened by the under
Secretary of the Company, at said Office
Immediately after said hour.
a. The Company reserves the right to
lreject any and all bids. If two or more bids
Ishall show an identical lowest interest cost
Calculated as being the aggregate of all
dividends payable on the Certificates, in
creased or decreased, as the case may be, by
| the discount from or premium on the par
value of the Certificates as specified in the
lbid), the successful bidder (unless the Com
lpany shall reject all bids) shall be chosen
by lot. Notice of acceptance of the most
favorable bid (subject to the approval OF
the Interstate Commerce Connlission) will
be given to the successful bidder not later
than three o'clock P. M, Eastern Standard
(s) Delivery of the Equipment Trust
Certificates Tin temporary or dehnitive
form) will be made against payment in
| full therefor to !. P. Morgan & Co. In
icorporated, Trustee, at its office, % Wall
lStreet New York g. New York, on such
date as the Company may designate OF five
days notice, such date of payment to be as
soon as practicable after Interstate Com
lmerce Commission approval, but not later
Than fifteen days thereafter. and not earlier
THAN February IS, 1o47. IF the Interstate
Commerce Commission shall not have given
Its approval on or before March 4, 1o47,
then the successful bidder may withdraw the
Ibid by delivering notice of withdrawal to
1.-THE Company not later than March 7, 1o47.
(6) There will be delivered to the sue.
lcessful bidder the joint opinion of counsel
lof the Company, and of Messrs. Davis Polk
lWardwell Sunderland and Kiendl, IS Broad
lStreet, New York S, New York (which firm
lin this instance is also acting Tor tne rus
ltee), as to the validity Of the AGREE
lMENT and LEASE constituting the equip
ment trust, Of the CERTIFICATES to 5.
ISSUED Hereunder, and of the Company,
Iguaranty of said Certificates.
+ az Copies of the proposed form Of
AGREEMENT and LEASE, and til.
form for submission of bids, are avail
able upon application at the Office of thu
undersigned.
JOHN B. HYDE
Fice President
/ The Cincinnati. New Orleans ana
Texas Pacific Railway Company
Room 201s, 20 Pine Street
New York s, New York.
dated: January s, 1947.