| Show refunding plan of the S 8 P new york feb 3 announcement of the southern pacific refunding plan was made today kuhn loeb co and speyer co have purchased of first refunding mortgage 4 per cent gold bonds of the southern pacific the total authorized issue ot these refunding bonds is to be and the bonda will mature jan 1 1955 with privilege to the company to redeem any or all after jan 1 1810 at and accrued interest the bonds mill be secured by a mortgage which covers practically all the lines ot the southern pacific in california arizona and new mexico after maturity of existing bonds the refunding bonds will have a first lien upon those lines A syndicate has been formed composed it Is said of number of banks banking houses trust companies insurance companies and other financial institutions A large portion of the bonds will be offered the public |
