Show I U USES ES 01 OF STOCK ISSUE Union liz has Nci v C ors or of s O 10 I New ew York June 13 Of 13 Of the tho ne new stock Issue of uC the Union Pacific will be he used to retire the new convertible conver conver- tible debentures and to raise more capital stock With the stock In the treasury the at lr If preferred railroad company Is 18 now In position to tu get g-et nearly of or new ne' capital in addition to that to be raised by the sale o of the debentures Announcement that tho new Issue Is It Isto isto to bo be of debentures res which urn uro unsecured wise wise- cured worried investors in the cial district It hud had been supposed that thul the new lIew bonds would be he backed by hy some kind of ot security as was done when the convertibles Ju Just t retired were Issued I Kuhn Loeb und and company said the au absolutely without security bunds sero ere crO of the cum com faith raith o Jl fly ity beyond the good ia llan pany i iy of or Kuhn Loeb Loch One of oC tho the partners produced u. u dictionary ary and company of oC the contention yesterday In support securities a as that thai In describing these bonds Londs there has tins been no hO false Impression impression dictionary to the public The Tue sion short given to not necessary ary that it wa wax was security behind 1 a uon bond 1 in iii or order order order or- or have any arty definition the It within der to bring financiers given Tills prove that high they stand where re exactly sure SUle are alC riot not to for r ore before have they appealed In iii a mutter matter the tile dictionary for backing importance of extreme a bond and a tL between debenture The Time distinction Is 18 clearly drawn III In Wallstreet Wall Wallstreet all other oIlier C financial markets markets mar mar- street as It IS In all bonds arc are either mortgage collateral Bonds bonds Income bonds r equipment equipment equip equip- something with iitti a L se security security se- se or ment mort not necessarily u a behind It Il simply a a. promissory promissory prom prom- Is It Ga gage c A only of the und and monks note the rite Nobody questions stock preferred Pacific company to ability of time the Union obligations but the meet its debenture public expected some slated stated Investment In security behind the new I Issue sue |