Evening star., 1947-01-06
SALE or SECURITIES By
The eintinnuti, New Orleans ond
|Tsxus Pacific RaiIwuy Company
Notice and Specification.

"a The Cincinnati, New Orleans and
Texas Pacific Railway Company (herein-
after called the Company, invites bids
for the purchase Of $l,J00, 900 par amount
Of Eaup%fa, TTSs. Gsrthsa'ssi SRw 70 os se
hsHSs 8 ANp ND fExAs flsAAti pAcFfc H RAl ~
WAY EQUIPMENT TRUST CERTIFI.
GATES, SERIES "K":
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;
(b) The proceeds Of said Certificates
will provide not more than 500 of the
cost Of the following new equipment
ID 100 all-steel 7o-son ballast cars.
and
(ii) $500 II. P. Diesel-eiectrie
freight locomotives,
to cost in the aggregate not less than
s2,l4O, 900, 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-
ary Is, 1o47, to mature serially in 10
equal annual installments from February
IS, 1o48, to February Is, 1857, both in:
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, ie47.
(2) Bids are to be submitted in duplicate
able at the office of the Company, Room
|2018. 70 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.
form for all maturitiess, no bid for less than
Io9 per cent of par, plus accrued dividends
from February Is. 1o47, to the date OF
delivery. to be considered.
80 Each bid must be enclosed in plain
envelope securely sealed, bearing no indics-
Ition of the name of the bidder or the
amount of the bid. marked "Bid under pro.
posed Contract No. IA for The Cineinn i.
New Orleans and Texas Pacific. Railway
addressed to the undersigned at Room 2ois;
I7O Pine Street, New York 5, New York, and
must be received on or before twelve o'clock
noon, Eastern Standard Time, January Is,
|1o47. Bids will be opened by sthe under.
signed, or in his absence, by J. J.. Maher.
Secretary of the Company, at said ONCE
Immediately after said hour.
(4) The Company reserves the right to
lreject any and all bids. 1t two or more bids
shall show an identical lowest interest cost
Calculated as being the aggregate of all
dividends payable on the Certificates, in.
lcreased or decreased, as the case may be, by
THE discount from or premium q on !, the e par pa
ibid, the successful bidder (unless the Com
Ipany shall reject all bids) shall be chosen
lby lot Notice of acceptance of the most
Favorable bid (subject to the approval OF
the Interstate, Commerce Comn,ission) will
be given to the successful bidder not later
4m,' !han thTss fses ies7 Eastern s''n'fs
| (s) Delivery of the Equipment Trust
Certificates Tin temporary or dehnitiye
Iform) will be made against payment in
full therefor to y. P. Morgan & Co, in.
lcorporated, Trustee, at its Office, 23 Wall
Street, New York 8, New Yofk. on such @
soon as practicable after Interstate Com
lmerce Commission approval, but not later
THAN fifteen days thereafter, and not earlier
than February IS, .1947: II the. Interstate
Commerce Commission shall not have given
Its approval on or before March I, 1887,
Ibid by delivering notice of withdrawal to
1.-THE Company not later than March 7. 1e47.
| (6) There will be delivered to the sue.
cessful bidder the joint opinion Of counsel
of the Company, and of Messrs. Davis Polk
Wardwell Sunderland and kiendl, + Broad
| in this instance is also acting for the Trus-
tee). as to the validity of the AGREE
lMENT and LEASE constituting the equip.
lment trust, of the CERTIFICATES to be
issued hereunder, and of the Company's
guaranty of said Certificates.
| az 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 the
undersigned.
JOHN B. HYDE
Vicc President
The Cincinnati. New Orleans and
Texas Pacific Railway Company
Room 201S, 20 Pine Street
New York S, New York
! Dated: January 6, io47.