Evening Star Newspaper, December 17, 1936, Page 19

FIN VIRB ST TARES UNCERTAN PATH Oils and Specialties Show Most Consistent Gains. Utilities Narrow. By the Assoctated Press NEW YORK, December 17.—The Curb market was a see-saw affair to- day, with ofls and industrial special- ties showipg the most consistent bul- lish- action. Utilities were on both sides, but changes were small. Aluminum Co. of America, Mont- gomery Ward “A.” Guif Oil, Babcock & Wilcox and Detroit Gasket moved up 1 to 3, while Great Atlantic & Pa- cific. Pepperell. Standard Products and Bunker Hill & Sullivan showed losses of like range. $25.000,000 Issue ‘Is Marketed For Pacific Telephone By the Associated Press. NEW YORK., December 17.—An of- | fering of $25,000.000 of Pacific Tele- phone & Telegraph Co. refunding 3'4 per cent mortgage bonds, due 1966, was made today by a banking group headed by Morgan Stanley & Co. at 105 per cent of par value. Bond authorities said the yield on the bonds to their maturity in ap- | proximately 30 vears was just a shade under 3 per cent. making the issue one of the lowest-yield corporate ob- ligations to be offered in recent Wall ANCIAL. Stock and Sales— | Acme W vtc (2)... 25s Aero Supply (B).. 8 Agfa Ansco 2 AfrinvIncwar... 1 Afr Investevpf.. 1 Ala Pwrpf (6) 1908 Alabam Pw pf (1) 10 Allen Indus (11) 2 Alliance Invest . 1 Alum'n Co of Am 500s Alum Good sa%0e. 1 Alum'n Ind (40c). &0 Alum'n Ltd e Am Airlines. Ino.. 20 Am Beverage _.. 1 Am Capital (B) 1 Am Cit P&L (A) 3 850¢ Am CP&L ww2¥% 1 Am CitP&L Ba20¢ 9 Am Cynam B t60c 32 Am Eqit (a22%¢). 1 Am & For Pwww. 1 Am G&E (1.40) ... 48 | Am G&E pf (8) 26 Am Gen C'p (a50c) 9 Am Genpt (2%). 508 Am Gen C pf (2) 2608 Am Hard Rub(al)200s Am Lau Mch t60c 1 Am L1&Tr (1.20). 9’ Am Mfg Co (a3) . 125s Am Maracaibo 25 Am Meter (a214) Am Seal Kap allc Am Superpower _ Am Superpwr pf__ Anchor Post F Angostura (20c) . Apex Electric(al) Appalach EPpf 7 Arcturus Radio T Ark Nat Gas = Ark Nat G cu nf _ Ark Nat Gas (A) Art Metal W +60¢ Ashland Oil & Ref 0 Gas & Elec__ 0G&E (A) _. AssoG& ES5of Assoc Invest (12) Asso Laundries _ | Asso Rayvon ~= Atl Coast Fisher_. | At1 Coast La21; . 400 Atlas Corp (af0c) Street history. Public offering was made today of | Atlas Corp war __ AtlasCpf A (3) _ | Atlas Plywd ab0c Austin Silver | Auto Vot M(i80c) a7 4 2 1 52 « 142,600 shares of capital stock of Sterling Aluminum Products, St. Ax-Fisher(3.20)A 10s Bab & Wila2.85 400s Louis, at $10.50 a share by Russell | gaiqw L bd rts(d) 260 Msguire & Co, and E. H. Rollins & Soas. The offering does not consti- tute new financing for the company. the shares having been purchased from stockholders, Washington Produce BUTTER—Ranse of prices to stores Barium Stain St Barlow&S(A)1.20 23 508 Bau(L)7% 18t pf_1u { Rellanca Afreraft | Ben<on & H pf a2 Berkey&Gay F Co Berk&GF pur war | Rickfords Ine 1.20 | Bliss Co (B W) | Biue Ridze C a10¢ | Blue Ridge cvpr3 Bohack (H C) 1 108 22 v 2 4 1 = 3008 (o] 143 ke 2614 8% 823 25 4 134 Alum Am pf $118 3008 114% 17% 1044 % 244 2% 1 9% @ 034 19 L4 754 a2l 1803 Dividend Rate. Add 00. High. l:"' Close. THE EVE) Stock and 8 Dividend Rate Ford (Can) A (1). Fox (P) Brew 80c 0— id 00. High. Low. Close. 3 21K 3 1 15 4335 | Froedt't cv pf 1.20 1008 ¥ 3% | Gen ¢ 5% | Gen Alloys as 14 | Gen El Ltd a56%0 * | Gen Firerr'f t40c. 264 | Gen [n+ ezt Corp 32)4| Gen }ub Sv pf 315 Gen Rayon Ltd A 4 | Gen Tele C'pal.3b 133 (Gen Tel ev pf (3). 114 | Gen Tire & Rub 17% | Georgia Pw pt (6) 104 | GITb't(AC)ad2 3¢ 76 | Glen Alden C (1) 244 | Godchaux Sug(B) 2% | Goldfield Consol..- 1 | Gorham (A) Gorham pf ww 4 |Gorham vto ex(1). 6% | Grand Natl Films 364 | Gr Rap Var(160c) 4% | Gray Tel P8 (1) .. | Grt ARP TV 18 1 2 E Ad pf 17_600e 1 2 " 12 1008 2 10 40| Grt Nor Pap (11). 11254 | Greenfleld T & D.. { 10| Groc Store Prod . 3 | Gulf Ofl(Pa) (11). | Han Lamp (80c). Halold Co (1) . HartfordEl Lt 28 Hartman Tobacco Harvard Brewery. Hat Corp (B) " . 103 Hazeltine (a2%).. 2 Hecla Min (a80c). Mollinger G t66c .. Holt&Co ptA a20c Horn & Hardt pf 5 Hudson BM&S (1) Humble Oil (t1) __ Huyl pt stpd (d)_.100s Hygrade Food 2 Hvgrade 8ylv(12) 60s Il Pwr & Lt $6 pf 250» Imp Oil Ltd t50c 14 Imp Oil reg (i50c) 1 Ind'n Ter I10(B) 2 Indiana PL (t40c) 1 'ap P&L pf 6% 15]. 28 213§ 5 1% % 3 | Ins Co of NA (+2) 2008 14 | Intl Cigar M 12 2 Intl Hold&Inv Ltd & intl Hy E1Scvpt 22 . intl Petr (T1%) ;! Intl Products s015 | Intl Ut (A) 19 * | Intl UtHl (B) 214 | Intl Vitamin(50c) 734 | Interst P(Del)pt_ 1 1 17 12 100 Inv Royalty (3¢) 424 [ron Firemen(t1) 3008 Irving Air Ch (1) - 1tal Superpwr(A) Ital Sup'pwdrts.. Jacobs(FL)Co(1) Jer Cent PAL pf 7 Jonas & Naum . " | Jones&Lauzh Stl_ KanCity PSpf A Ken RT&L A aTic Kingsbury Brew KingsCo Lt pf B7 Kingston Prod 40¢ Kirby Petr (20c) Kleinert Co(t40c) 434 1 1 L 208 NEW YORK CURB MARKE By privite wire direct to The Star 22 1044 18% CLEARNGS EXCEED THLLON NARK Total, With Two Exceptions, Is Largest Reported Since October, 1931. By the Associated Press. NEW YORK, December 17.—For the third time this year, bank clearings rose above the $7,000,000,000 mark in the latest week. With these excep- tions, such a high point has not been reached since October, 1931. % | “The total for 22 leading cities for the week ended December 16, as re- ported to Dun & Bradstreet, was §7,- 235,888,000, against $6,256,049,000 last year, an increase of 15.7 per cent. This contrasted with & gain of 17.1 per cent in the week preceding. At New York City, the total reached $4,754,951,000, the highest since the week ended March 18, of this year. This was a gain of 20.4 per cent over $3,859,996,000 a week earlier and a rise of 16.4 per cent from $4,086,085,~ 000 a year ago. Outside centers ag- gregated $2,480,937,000, which was 143 per cent above the $2,160,964,000 . |in 1935, 5| Only one city failed to register an increase over last year's figures. This was Omaha, where the drop was 5.5 per cent. The largest percentages of gain were reported for Pittsburgh, Bal- timore, Richmond, New Orleans and 04 | Chicago. Clearings rose $1,227,692,000 over the total in the week preceding. Be- tween the two comparative weeks in 1935, there was an increase of $1,- 124.317,000. C, NE THURSDAY, DECEMBER 17, 1936. W YORK STOCK EXCHANGE Continued From Eighteenth Page.) 2. Prev. 10! Stock and Sigh. Low. 4 1% Western Pacifio... . 2 9% 5% Western Pacific pf. 3 961 172% West'n Uslon (a2). x 22 484 34% West'h’'se ABal%._ 183% 94% Westh'se Kl ( 160 123% Wasth’e 1st p! 33% 22% West'n El Instasc 19% Westvaco Chlor (1) 31% Westvaco 5%0f 1% 70 Wilson & Co pt (6). CHICAGO PRODUCE. CHICAGO, December 17 (. —Poultry, live, 2 cars, 54 trucks; steady; hens, 4's Dividend Rate. Add 00. High. Prev. 1936 High. Low n 364 85% 80% 9 2% T 82 9% reorganised. Stock and Dividend Rate. 44% Woolworth (3.40) 23% Worthington Pump 56 Worth Pump pf A.. 860 47 Worth Pump ot B 7 63 Wrigley Wir(t3).x 1 8% Yellow Tr & Coach. 2% Yellow T&C Dec 24. 42% Young Spr&W (13). 41% Youngs'tn Sheet&T 11'x Zenich Radio 5% Zonite Products... 8 Approximate Sales of Stocks on the N. ¥. Stock Exchange. h nar * o Accumulated dividends xEx dividend. FINANCLA 2:16 p.m. 8al Net Add 00. High. Low. Close. Chge. 65 641 64% - % 71 36% B34% 35% +1% 863 83% 84% +1 80% 7% 80% +2% 3 8 13 -3 20% 20% — % 4y 46 0% 32m 8 21% 4l 4615 81 36'3 Bl 171 88 3 47 12 ey 3% 1% 8 410,000 1,090,000 0 N . 740,000 1 390,000 Paid <his year panies reported in receiversaip or being refrigerator extras, 27; refrigerator 5. 263 n track, 220: total U. 8. st russets firm: demand Potatoes, shipments. demand " slo OIL SHARES OFFERED. NEW YORK. December 17 (#)— An underwriting group headed by Riter & Co. today offered publicly . 490,000 shares of capital stock, $10 par value, of Trans-Western Oil Co. At 81375 a share. Simultaneously, Live poultry—8ta, old roosters, 1081 Sprine * chickens, turke; 220%4; old boxes, ‘1823, 259,900 shares will be privately sold. ! PHILADELPHIA PRODUCE. PHILADELPHIA. December pringers, mixed color: .Jonnr toms. 15817 sed poultry—Turkeys, 30428: nearby. | hens, 20a%l; chickens, in nds up. 16%: poundi 13%: less’ th Leghotn hens. 1035 ‘b pounds up. colored. 1 : White 2 Dressed turkeys steady: hens. vouns. 1% pounds : pounds, 20%: old, Ya: up and less than 1 18; No. 2 turkey (pRutter, 8.20 Rock. old. 1R: toms. vouns. 384034 (90-91) rd: 4467 ste 28Y,: fresh- current. : ) 90 (centralized eady; extra o Idaho Russet Byrban) a75: U. 8 No. 2. 0. tures: FEDERAL LAND BANKS Land Bank bonds. 4'4s November fair: other stock steady: Eampnes enes “Bhcked: per nundredwelght. U, 8. No_1, 2.50 ‘olorado Red Mc- : Wisconsin round 11 0082.00: B8 No. 2. Idaho Russets,” January, NEW YORK. December 17 (#).—Federal B. & O. Net for 1936 Expected to Total About $3,000,000 B the Associated Press. CHICAGO LIVE STOCK. CHICAGO, December 17 pariment of Asriculture) —Hoy ncluding 7.000 direct: general higner than Wednesday's aver: L 5D up more; top. 10.30: bulk. and choice. }58--1‘33 png‘lllfl:L nlg' comparable - inds. 9.50210.00; s Wadne 00; bulk good attle. : calves. 1.500: due recelpts; fed. steers and yeATiings a strong o unevenly higher: shipper dem: less active, however. curull!d"! dressed trade: all grades steers lings practically as high s last wi mainly 50 to 1.00 higher than Monda low ‘time; welghty steers up most: toda. ), Baid for veariings and medium= several leads. 11 9.00810.60; " lower sre.ies common and medium light cattle not ctive as comparable kinds scaling over 1.000 pounds: stockers slow. steady: all she'stock steady to strong: bulls stead; 8t 5.65 down and vealers. 8.00x /4 shipper kinds 10.00a11.00: mostiy 10.30. heep. X.000. ineluding 500 direct: lambs opening ‘very slow: few sales and indications about steady higher: good 0 choice native Western lambs bid K 50a75 weights: sheep s dy: native ewes, : 4.50; indications ady on feeding la . FOREIGN EXCHANGES. d. 91%: 60-day bills, 4.00%: Gemand, 670" cubles.. 4670 ¥ X bles. ce A Ttaly. demand. 5.56%5: cobies 8 Be] 8.9 O NEW YORK, December 17.—Daniel Willard, president of Baltimore & | ©Ohio Railroad Co., said today that | : indicated net earnings for 1936 may be about $3,000,000, equal after pre- ferred dividends to around 25 cents | A share on the common stock. Czechosiovakia Austria, 18.7:n 75. Argentina Tokio. 2%.62. Shi 30.60: Mexico City. New York. 100.12' 00.RTy, n—Nomin: — NEW YORK BAR SILVER. i, Poland. : “Yugoslavia . 19,80 Rum Brazil, K.R0lqr 29.60; ‘Hongko 27 &R Montrea w York in Montreal, This would compare with a net loss of $3,130,908 in 1935. NEW YORK, December 17 (#).— Bar silver firm, !4 higher at 45%;. This is not an Offering Prospectus. The offer of these Bonds is made only by means of the Offering Prospectus. This issue, though registered, is not approved or disapproved by the Securities and Exchange Commission, which does not pass on the merits of any registered securitiss. $25,000,000 The Pacific Telephone and Telegraph Company Refunding Mortgage 3Y% Bonds, Series C Dated December 1, 1936 Interest payable June 1 and December 1 in New York City or in San Francisco Due December 1, 1966 THE BANK OF CALIFORNIA, NATIONAL ASSOCIATION, CORPORATE TRUSTEE Coupun Bonds in denominations of $1,000 and $500, registerable as to principal. Registered Bonds in denominations of §1,000, §5,000, §10,000 and $100,000. Coupon Bonds and registered Bohack HC 18t pf 350 Bonds, and the several denominations, interchangeable. #athered from wholesale dealers (prices to | o fearby shippers based on Philadelphia and | Bower R B (82% ) 1oy (B0 score]. 4A: 4-pound erints. <arton | :own:y;::ag)z‘anu: LakeSh M 1e) - 92 core) Az 1 N 10 | Brazil TL c.. Lakey Fy & Mach_ Sore) aa 3 acore), 98: tub (BU| by jgrep't Meh all Leh Coal&N as0c_ v* MEAT8 —Choice beef. 16: calves. 1&: Brill Corp (A) Leonard O11 bs. 14; fresh ham smoked ham. | Brill Corp (B).. Lion Oil Ref (1) poTk bacon. slab. «7: bacon. sliee. | priiy Corp pt Lit Brothers Br-Am O cou $80e Locke Stl Ch 80c . Rr-Am T Badste 1 Lockheed Afrcraft Brown Co of 2000 Lone Star G as0c.. Brown F& Walsc 8 Long 1sland Ltg Brown Forman _. 4 Loudon PK'n t50¢. Buckeye P (3) - La Land (40¢) __. Government graded | pupker H&S (12). 288 Lucky T (+12¢) - ak and prices ', to 1 cent lower. ¢ “Teceipts. “hasi: hennery whites. Cable El Prod vte. 19 | McWilllams D (13 Government araded and dated | Cable & Wire(A).. 2 Mangel Stores 1 e e D s, larte. 41%a: | “able& Wire(B)_. 11 Mansel Stocr pf__ 308 Cable&W nf a20e 1 shil ) extras, large. 3:d'a A Tas, mediums. 30; U. 8. standards e Can Car&Fdry pf 50s % ¥ Turkey market slightly | CAR e T ces Vi %Cent. lower. and | Can Hydr E1stpf 108 Shlv’a 'few ‘at top quotations. Recelpls | Can Indus Alco A. Can Ind Aleo (B) . Can Mareont [ heavy and some receivers not buying after | s : 7 Capital City P 60c 2 1 1 L] 5 Stock and Sales— Dividend Rate. Add 00. Rainbow Lum (B) 1 Raymond Con as0c b0s Raym'd Con pf(3) 358 Red Bank Reed R B new t80¢ Reeves (Dan) b0c. .7 | Reiter-Foster L | Reybarn Coa2sc... | Reynoids Invest .. 3 2 1 1 Rice Stix DG b30c. 2 N ks s R 2 R i g - The following is merely a brief outline of certain information contained in the Offering Prospectus 2 0 Knott Corp (at0c) Redeemable, at the option of the Company, in whole or in part, upon at least 60 days’ notice, on any interest payment date, at the following prices with accrued interest: to and including June 1, 1941, 1 !,%: thereafter to and including June 1, 1946, 107!/3%; thereafter to and including June 1, 1951, 106/29%: thereafter to and including June 1, 1956, 105%; thereafter to and including June 1, 1962, 103'3%; and thereafter, 100%. Legal insestment, in the opinion of counsel for the Underuwriters, for Savings Banks in the compound. 15: lard. States of New York, California and Connecticut. LIVE STOCK—Pigs. 834af!.: light hoss. 9 medium_ hogs, | 93sm10: heavy T Toushs. Gak: calves. 5a10'a Prices paid shippers net £.o.b. Washing- ton Be the Uniteq Siates Bureau of Agri- cullural Economics: EGGS—Market on Richm'd Radiator Root Petrolm(1)... andissubject tothg moredetailed statementsinthe Offering Prospectus and the Registration Statement, whieh also include important information not outlined or indicated herein. The Offering Prospectus, Sae Root P cv pf 1.20 which must be furnished to each purchaser, should be read prior to any purchase of these Bonds. Russeks K A (11) Rustless Ir&Stl _ 2! | Ryan Consolid'd - 9 Safety Ch&L (14) 262 St Anthony Gold . 21 St Regis Paper 6 | St Regis Paper pt 200s Bavoy Oil _____ 19 ] S 1 Mfg(all;) b0s 18 - . THR COMPANY The Pacific Telephone and Telegraph Compeny, 83.42% of the voting securities of which are owned by American Telephone and Tcluu(h Company, is one of the associated companies comprising the Bell System. The Company, incorporated in California in 1906, is engaged directly and through subsidiaries, the largest of which is Southern California Telephone Company, in the telephone business in California, Nevada, Oregon, Washington and the northern portion of Idaho. The properties of the Company and its subsidiaries consist principally of telephone instruments and facilities for their inter-connection, the latter S ¢ ‘ consisting chiefly of central office switching equipment and connecting lines. The Company and its subsidiaries Seiberling Rubber 7 are subject to regulation by the Federal Communications Commission and by certain state authorities, within Selby Shoe 12)... 50s ypective jurisdictions. The Federal Communications Commission is presently engaged in an investigation Selected Indus 1 of the relationships betwegn American Telephone and Telegraph Company and its subsidiari Sel Ind all cfs 6% 7508 Sel Ind pr pt (5% )660s CAPITALIZATION (The Pacific Tolophone and Telograph Company only) Sent Saf Control .. 1 First Mortgage and Collateral Trust Five Per Cent Sinking Fund Thirty-Year Gold Bonds, Mid Sta Pet (A)_. 3 e o due January 2, 1937... Mid Sta Pet (B) . 16 L D Refunding Mortgage 3//,% Bonds, Series B, due April 1, 1966... Mock Jud Voe 60c 3 Sherwin-Will (4) 2508 Notes Sold to Trustee of Pension Fund (4% Demand Note: Moh H P&L 1st(7) 26s Preferred Capital Stock, six per cent. cumulative—par value $. Common Capital Stock—par value $100 per share.........c......ccoonunun. 180,500,000.00 Shrev-El Dor PEL 20 Mohawk H 2d pf 12 e Molybdenum Corp 81 Suith Cor (e 2 4 | Mont Ward A (7) 90 So Penn Oil(1%) 19 PURPOSE The net proceeds from the sale of the Bonds, after deducting the estimated expenses of the Company Moors Dist (t50e) 10 SoCal E4 pt pf 1% 208 OF ISSUE in connection with such sale, are expected to approximate $25,615,000, exclusive of accrued interest. Mount Prod (60c). 14 $24,242,000 of such net proceeds are to be used for the payment at maturity on January 2, 1937, of he principal of the Company's First Mortgage and Collateral Trust Five Per Cent Bonds, which are now outstanding in that amount, and the balance, approximately $1,373,000, is to be used for general corporate purposes. |SocCalEdptB1% 1 Mount St T&T(8)_ 208 i i l:iullAler B;.:.Q;: 10 ::: < ggifi;l“!;d:;;:cm 1% | Nat Auto Fib $1% Sou Royalty t40e Nat Hella Hess | 44| Spen Chain 8t 60c. RARNINGS Thefoliowing figures are taken from the Income Statements of the Company ir.the Offering Prospectus. Rk g::jz": e the o %:::xl:: - The Offering Prospectus also contains Consolidated Income Statements. t Fuel Gas (1) | Sta o1l Ky (11.40) Years Ended Operating Total Fixed .\'n f;ypx Aa2l Stand gu O‘l‘ufi 11 December 31 Revenuest Income} (‘havln Nat Investors Stand Pwr t Nat Iiventvar S P AL (B $51,686,487.34 $18,558,566.17 1,075.42 NatIne e | Stand Broa (at56) 7] 53,198,405.31 18,335,650.51 3,532,303.23 Nat Leather = 1985 56,869,136.65 19,170,375.66 3,144,995.13 1926* 30,414,668.31 9,714,043.57 1,561,769.45 *Sin months ended June 30. tineiude $66,000 for 193, §409,100 for 1935, and §225,900 for the six months ended June 80, 1936 which the undable, in whole or in part, 1o telepho i in the State of decision in @ pending rate cese. 00 17§ | Stand S11&Ld (4c) Nat Oil Prod t60c 83 | Starrett Corp vic_ ColonDevLtdA . 9 Nat P& Lt of (6) 300s 261 | Sterchi Bros a30¢ Colon Dev 6% pf.. ; Nat Rub Mcha20c 35 ividend Income in the amounts of §7,882.760.33 for 1953, §7,670,170.80 for 1984, §7,698,685.80 iz months ended June 30, 1986. Dividends recaived from subsidisries m as @ whole by epproximately 459,000 in 1938 end §844,000 in 1984. 1134 | Sterling Bra7sc_. Colo Fuel&Ir war. 2 Nat 8ervice 27 Sterling Inc(ase) 10 Colt'sF FAt1% 4 4 Stetson (J B) . . 500s Colum G&R pf(5) 100s 1 The Series C Bonds will be issued under the Company’s Refunding Mortg supplemented, and, in the opinion of counsel for the Company, will be secured, pari pa Comzcmr’a Refunding Mortgage 3"/,% Bonds, Series B, by a lien on substantially all real es Merch& Mfppf2 80s Merritt Chan & 8 L Merritt C& 8 pf A100s Mesabi Iron 10 Metai Texile(40¢) & Mich Bumper C .. 14 Mich Gas & Ofl 14 Mich Steel Tal.09 1 Mich Sugar pf Fowl: Colored. heavy. 1tal Leghorns. 7al0: No. “'s. 5. Chickens: V. Carib Syndicate . 6 arnation Co (1) einfa Rocks. broilers and fryers. 16 ware Crosses. 15a16: mixed colors. 1° Carrier Corp Casco Products __ pounds and up. 40 each: 0 old guineas, oung. heng. 18 youne tom: No. 25, 1%a1 Bens. 14; old toms. 14. Catlin Corp (a40¢) Celanese 1st nf(7) 768 Celluloid 1st pf 18 108 Cen Hud GRE 80 1 Cent Ohfo Stial.1( 2 CURB BONDS Cent & SW Ul _ 44 DO s Cent States Elec . 43 Cent St E16% pnf 125» Centrif Pipe t40e. 7 Charis Corp(1%) 2 Chesebrough (4) 1508 Chief Consol _ 1 ChildsConf _____ 25s Cities Service _ _ 301 Cities Servicepf 8 Cit Sve P&L $6 pf 508 5 | Cit Sve P&L $7 pf. 80s \42 | City Auto 8(t60c) & * | Claude Neon Lts . 6 | clay'n&Lamaioc. 2 | Clev Tractor 8 | Clinchfield Coa ; g QOutstanding as of June 30, 1936 $ 24,498,000.00 112 Alabama Pw 1s Amer G & E 5s Amer P & L s Asto El Ind 425 '3 1 12 Net Income $14,517,490.76 14,808,347.28 16,025,380.53 8,152,274.12 | Club Aluminum_ | Colon Dev Ltd . (W otel Waldor! g ois L & P 4138 E ins Cen R R fs lins No Util 58 1l Pw & L fis A & Y B 3 Sunray Oil (al0c) 8 ine Min (3). 8 -Am Elec pf 1008 Taggart Corp 15 Tampa El (3.24)_. 1 Tastyeast(De)A. 20 Taylor Dist (30e). 9 Technicolor ab0e . 13 Tech Hughes t40e 20 Tenn Products 1104 017 C 106 21061, Com'u’ty P&L 1st 200w 108 Community PS #1 125« 2 Community W8 . 2 Cons Afrcraft . 14 Consol Copper 114 Cons Gas(B0)3.60 Consol Retal] Strs Cons Roval (20c) Cont'l G&E pr pf 7 SERIES C BONDS Nehi Corp Nelson(H) (at5c) 2 N J Zine (12) 4008 New M&A Ldalo. & Stinnes(Hugo) d 1 | Columb O% G a20c %5 s 97, - 268 Strook & Co(a2z)250 “olumbia Ple(t1) 268 7 buildings and telephone plant (except motor vehicles) now owned by the Company in California, Idaho, Oregon and Washington and appertaining to or useful in the transaction of its business in those Stetes. The lienof the Stutz Motor - b Com'with Ed (14) 2119 9 L Sullivan Machine Com'with & 8 war 47 3 1 Refunding Mortgage is subject to prior tax and assessment liens and to the lien of the Mon’ ge or Deed of Trust dated January 2, 1907, securing the Company’s First Morigage and Collateral Trust Five due January 2, 19. so a lien o N Y Auctionablfe 1 N Y & Hound (1) 3008 NY Pw&Ltpf (6) 80s NY Pw&Ltpf (7) 10s 12 i A ors C P & L 4138 C en Util 18t 8s ' . The Refunding Morigage i the Company’s rights as pled, entuck U 58 en Uil B} P & Mits Power 2 Miss Pow & Lt 58 57 Miss Riv Fl ‘44 Miss Riv Pow fs ‘51 Missou P L 51as A R Tr 68 ‘62 4'%s P 6] Corp 0s 140 L B8 A 40 4% s 4 101% 1 A 2028 " 106% 108, Cal E 3%s B 60 108 107 u Tnd Ry 43 61 . _ 86 8@ uth N G 85 ‘44 10:3% 1013 td G&E 85 ev mat 358 K0T K and G&E ov fis 7158 _ 90 ¢ _Pa Tra 85 Tex O B8 A o PAL 4% A 50 Alas A nta Fe Arg 4s st ‘45 ww—-With warrants. ~ xw—Without nt: n-—Néw. wi—When issued. pe: UNVROUABIHTS Cimpaired by matupits tCompanies 1 Di2i3mOoMmE: 2383223 FIE o 3 teported in receivership. Contl Oil (Mex) Cont’l Roll & SFy Cook P & Var i60c Cooper Bessemer._ Cooper Bess pf A Cord Corp -- Corroon & Revn Cosden Oil Me (d) Cosden(Me)pf(d) Creole Pet (a50c) Crocker-Wh allc. Croft Brewing Crown Cent Paéc Crown C Intl A 1 Crown Drug (40c) Crown Drug pf 1% Crystal Ol Ref._. Cuban Tob vte Cuneo Press (2) __ Cusi Mex Mining_. Darby Petr (50c) . Dayton Rubber 1 Dayton Rub(A)i1100s Dejay Stores t80c 5 Dennison 7% pf... 108 Derby Ol & Ref 3 Derby Oil&R pfi4 125 Detroit Gasket t1. 15 Det Gas pf (1.20) Det Gray Ir $20c_. Det St1 Prod a1 Dohler Die C (a1). Dow Chem (2.40) . Driver Harris (1). Dubelier Condens Duke Power (3) ... Eagle Pitch d a80c t'n G&F Asso East'n G&F pf(8) East G&F ppf 4% Kast'n Malle Ir 2 East'n St Pwr Eisler Elee (abc) - Elec Bond & Share Elec B & 8 pf (5). Elec B & 8 of (6) Bl Pwr As(A)a2ic Elec P&L ont war Fleo P&L 24 pf A 1008 Elee Shareholding 2 Elec Sh pf ww (6) 800 Kl 8hov C 1st pf .. 100s Bmp G&F 6% of 1008 Bmp G&F 1% bt 1608 Emp Pwr ptal.80 1008 Equity Corp(a2sc) 48 Buropn Elbdrts. 6 Evans Wall Lead 10 Evans Wall L pf 100s Ex-C-O A&T t60c. 21 Fairghild Av new. Falstaff Br (al%) Fanny F C (150¢) . Fansteel Metal __ Fla P & L pf Ford Ltd al8l-l0e 36 -~ ‘ 60 E] N Y Steam 6 N Y Transit 130c 1 Niag Hud Pw a40c Niag H P(A) war Niag HP (B) war Niag 8 Md B a60c. N em-P (&1). Nipi ng (as0c) . Noma Elec (a40¢) North AmL & P North AmL&P of N A Rayon A 1% N A Rayon B 133 N A Ray prpf (3). North'n Europ Oil NorIndPSpfiy 14 | North St P Ohio Ofl cu pf (8. Pac GRE 18t (1%) 2 Pac Public Serviee 2 Pac Tins (12) 8608 Pan Am Air (t1)_. 17 Pantepec Ofl 839 Pender Gr(B)ailc 2 Penin Tel pf (7).. 80s Pennroad (a25c) 7 Penn CL&P pf 2.8( 2bs Penn-Mex F a50c. 11 Penn P& L (7) 108 Pepperell Mfg (16)176s Perfect Circle t2_. 50s Phillips Pkg a50c_ Phoenix Secur Phoenix S pf A(3) Pie Bakeries t1.60. Pierce Gov (a50c) Pines Wintfrt(n) Pion’r GM Ltd 806 Pitney Bowes 40c Pittsbgh Forging Pitts & L E 123 _. 200, Pitta P1 Gl ( 1 Pleas Val Win Potrero Susar Powdrell&Al t60c 12 Pwr C'p(Can)a25e 2258 Pratt& Lamaly% 3 5214 | Premier Gold ti2e 6 564 | Producers Royal 102 284 | Propper-MeC (d). 1 2% | Prosperity 5 % | Prov Gas (80 1) | Prudent’l Inv a7 28 | Prudent Inv pf (615 183 | Pub Sve Ind of 100 64| Pb Sv N 11l (np) 121008 8% | PubSve Oklapl7 10s 2134 | Pub Ut Beo pr pf 2608 1214 | Pux Ba P&L pf(6) 1608 4 3| Puz Sa P&L $6 pf 260s 1135 1134 | Quaker Oats (14) 200 784 7334 | Quaker Oats pf(8) 108 593 B9 Quebec Power (1) 268 s s Kly & Lt Becal.55.8000 ] 8% 1% 12% a8k 21K 2K ‘Texon Oil & L 60c. _| Thew Shovel a50e. % | Tishman R&C Tob Prod kxp 15c. Toledo Edis pt (6) Tonopah Belmont. Tonopah Min aée... Tr-Lux DPS t20c. Tri-Contl C war . Tubise Chatillion. Tubize Chatl (A). fung-Sol Lump n. Tung-S L pf (80c) Twin-Coach a1.40. Ulen & Co 7% % pt Unexcelled Mfg Un GasCan a22%e Unit Corp war..__ Unit Gas Corp ... Unit Gas C war___ Unit Gas pf(13%) Unit Lt & Pw (A). Unit Lt & Pw pt.. % | Unit Shipyds B .. 11 Unit Shoe M 123 . 176s Unit 8 M pf (1%). 10s 42 USFinishing .. 4 U8 Foll B (60c).. 16 U S & Int] Secur. 2 44 | US Radiator 3 U S Radiator p 268 U S Rub Reclaim.. 16 Unit Storesvte . 1 Unit Ve Ex (1) 12 Unit Wall Paper . 16 Univ Co l(al) 1 Utah Apex 1 UtahP&Lpf$2.91% 2008 Utilities Pw & Lt. 160 Utll Pwr & Lt pf..300s Utll Pwr&Lt (B). Utility Equities _. Util & Ind (new)_. Utility & indus pf. 174 o PR we~ Ro aaan Walker Mining Wayne Pump (50¢ - West Au Sup A 14 W'n Tex U pf $8% Willms R C (80¢) - Will 011-0-M asle Wilson Jon a2% .. Wilison Prod (t1 Wolverine T t400. Woodley Pet t40c. Woolw FF W Ltd A. 74 | Wrixbt Hara t4ta Ygstn St1 Door 11 Yukon Gold(ai3c) 2 3} 24 SRS, Tt 5 gl st o0 2t g i gt ) deposited by it with the Trustee under said Mort, eor Deed of Trust. Stock so deposited incli stock of Southern California Telephone Company. Upon the satisfaction and discharge of said Mortg of Trust, all stock then deposited thereunder is required to be deposited under the Refunding Mortg amended and supplemented, permits the issuance of additional bonds of other passu with the Series B and Series C Bonds. The Refunding Mort e permits the Ca to dis of property covered by the Mortgage without a release from or notice to the Trustee, and fease for rel ses and substitutions of such property. with any such disposal, release or substitution. re is to be paid to a sinking fund agent, to be used inking fund in purchasing Ser No notice is required to be given to bondholders in connection ies C Bonds, but only T if odtainable at not exceeding their principal amount and accrued interest, the sum of $125,000 on June 1, 1937, and semi-annually thereafter; provided, however, that any unexpended balance in the fund on any semi-annual Ppayment date is to be credited on account of the payment due on that date. UNDERWRITING Subject to certain terms and conditions, the Underwriters named below have severally agreed to purchase these Bonds from the Company at 103%, or a total of $25,750,00, plus accrued interest. Such Bonds are to be offered to the public at 105%, or a total of $26,250,000, plus accrued interest. The underuriting discounts are 2%, or & total of ,000. Further information, particularly financial statemen: with the Securities and Exchange Commission, Price 105% and Accrued Interest — The Underwriters named below have agreed to purchase these Bonds on the terms and conditions set forth in the Purchase Agreement, including the approval of legal matters by Messrs. Davis Polk Wardwell Gardiner & Reed, counsel for the Underwriters, and by Messrs. Pillsbury, Madison & Sutro, counsel for the Company. It is expected that delivery of Bonds in temporary form will be made at the office of J. P. Morgan & Co. on or about December 21, 1986, against payment therefor in New York funds. The Underwriters have authorized the purchase and sale, in the open market or otherwise, of Series C Bonds for their several accounts, either for long or short account, within the limits and during the period set forth in certain agreements referred to in the Offering Prospectus. furnished to each purchaser and is obtainable from the undersigned. ’ MORGAN STANLEY & CO. Incorporated KUEN, LOEB & Co. _ LEE BIGGINSON CORPORATION BROWN HARRIMAN & CO. Incorperated BLYTH & CO., Inc. is contained in the Registration Statement on file in the Offering Prospectus which must be KIDDER, PEABODY & CO. THE FIRST BOSTON CORPORATION EDWARD B. SMITH & CO. DEAN HARRIS, HALL & COMPANY Uneerporated) Dated December 17, 1958 WITTER & CO.