Evening star., 1947-01-17
SALE OF SECURITIES BY
The Cineinnuti, New Orleans and
Texus Pacific Ruilwuy Company
Notice and Specification

(D The Cincinnati, New Orleans and
Texas Pacific Railway Company therein.
after called the Company, invites bids
for the purchase of sl,7O0,000 par amount
lof Equipment Trust Certificates, to be
known as THE CINCINNATI. NEW OR
LEANS AND TEXAS PACIFIC RAIL
WAY EQUIPMENT TRUST CERTIFI-
lCATES, SERIES "K":
(a) Said Certificates are to be issued
under an AGREEMENT to be dated as
of February IS, l947, between L. Sullt'
van and R. l.. Lee, Vendors, ], r. Morgan
& Co. incorporated, Trustee, and the
Company;
(b) The proceeds of said Certificates
will provide not more than sofo OF the
cost Of the he following new sq1h,Rtn1en; h5t1nt
Gi) 4-4.s00 H. P. Diesel-eleetric
freight locomotives,
to cost in the aggregate not less than
S2,14o,O0O. to be leased by said Trustee to
the Company by LEASE dated as OF
February Is. 1947;
(c) Said Certificates (each Of the par
amount of $1,000 are to be dated Febru.
airy IS, 1947, to mature serially in 10
equal annual installments from February
Is, l94S, to February Is, 1851, both in
elusive, to be guaranteed as I'd principal
and dividends by the Company, and to
bear dividend warrants at rate per am
mum to be named by the success ful bidder,
payable February IS and August IS in
each year, commencing August IS, 1947.
(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, 70 Pine Street. New York s, New
York Each bid must specify the dividend
rate to be borne by the Certificates in a
multiple of one-eighth of one per cent, uni
form for all maturities, no bid fot less than
99 per cent of par, plus accrued dividends
from February IS, 1947, TO the date OF
delivery, to be considered.
3) Each bid must be enclosed in plain
envelope securely sealed, bearing no indca-
ton of the name of the bidder or the
amount of the bid, marked bid hinder pro-
posed Contract No. Il for The Eincinr
New Orleans and TEXAS Paciff Railway
Equipment Trust Certificates, Sdries X
addressed to the undersigned at Room 201S.
20 Pine Street, New York 5, NcW York. and
must be received on or before twtlve o'clock
noon, Eastern Standard Time, January %,
1947 Bids will be opened by the under
signed, or in his absence, by J.EJ. Maher,
Secretary of the Company, at said Office
Immediately after said hour.
az The Company reserves the right to
reject any and all bids. If two of more bids
shall 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 Pm the par
value of the Certificates as specified in the
bid), the successful bidder (unless the Com
pany shall reject all bids) shalt be chosen
by lot Notice of acceptance OF the most
favorable bid (subject to the approval Of
1.-THE Interstate Commerce Commlssion) will
he given to the successful bidddr not later
than three o'clock p NJ, Eastern Standard
Time. January 25. l947.
f5) Delivery of the Equiprhcnt Trust
Certificates lin temporary or dehnitiye
form) will be made against Ifayment in
full therefor to !. p Morgan e GO. In.
corporated, Trustee. at its ofhcf . Wall
Street. New York 8. New YORK., on such
date as the Company may designate on tve
days notice. such date of paymdnt to be as
soon as practicable after Inte1state Com.
merce Commission approval, blf not later
than fifteen days thereafter. and not earlier
than February IS. 1o47. II the. interstate
its approval on or before March 4, 1947,
then the successful bidder may withdraw the
bid by delivering notice of withdrawal TO
the Company not later than March 7, 1947.
(6) There will be delivered 10 the sue
cessful bidder the Joint opinion of counsel
of the Company, and of Messrs. Davis Polk
Wardwell Sunderland and Kiendl, Is Broad
Street, New York S. New York (which firm
in this instance is also acting fdr the Trus-
tee). as to the validity of thu AGREE
MENT and LEASE constituting the equip
ment trust. of the CERTIFICATES to be
issued Hereunder, and of the Company's
guaranty of said Certificates
~ Copies of the proposed form OF
AGREEMENT and LEASE, and the
FORM for submission of bids. are avail
able upon application at the Office Of tho
undersigned.
JOHN r. HYDE
T'icc President
The Cincinnati New Orleans and
Texas Pacific Railway Company
Room 201s. 20 Pine Street
New York :. New York.
Dated: January 6, l9++.