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3498

NOTICES

Notice is further given that any inter act , by American Natural Gas Com ested person may, not later than June 9, pany American Natural , a registered 1950, at 5:30 p. m., e. sons for such request, the nature of his American Natural proposes to issue interest and the issues of fact or law and sell 380,607 of its authorized but un raised by said declaration which he de issued shares of common stock without sires to controvert, or may request that par value. American Natural states he be notified if the Commission should that on or about June 23,1950, the stock order a hearing thereon. Any such re will be offered to its common stockhold quest should be addressed: Secretary, ers of record as of the close of business Securities and Exchange Commission, on or about June 21, 1950, at a price 425 Second Street N W Washington 25, to be determined by the company. Such D. C. A t any time after June 9, 1950, stockholders will be given rights to sub said declaration, as filed or as amended, scribe for one share of the additional may be permitted to become effective as common stock for each eight shares held provided in Rule U-23 of the rules and and the further conditional privilege to regulations promulgated under the act subscribe for shares of additional com or the Commission may exempt such mon stock not purchased pursuant to the transaction as provided in Rules U-20
exercise of subscription rights plus any a and U-100 thereof.
shares purchased by the company in con nection with stabilizing transactions, as All interested persons are referred to described below. I f there is an insuffi said declaration which is on file in the cient number of shares to satisfy all sub office of this Commission for a statement of the transaction therein proposed, scriptions pursuant to the conditional privilege, the available shares will be which is summarized as follows:
alloted pro rata among those exercising Columbia proposes to issue and sell, the conditional privilege proportionately pursuant to the competitive bidding re to the rights they have exercised.
quirements of Rule U-50, $110,000,000
One right will attach to each share of principal amount of Debentures due common stock of American Natural out 1975. The new Debentures will be issued standing on the record date. Transfer under an Indenture dated as of June 1, able warrants will be issued to evidence 1950. The proceeds from the sale of the the rights and the accompanying con new Debentures will be used in part by ditional purchase privilege. The war Columbia to retire $14,000,000 principal rants will expire at 3:00 p. m., e. d. s. t., amount of 1% percent Serial Debentures on July 11, 1950. The exercise of eight and $77,500,000 principal amount of 3ya rights will be required to purchase one percent Debentures due-1971. The bal share of additional common stock, and ance of such proceeds will provide funds no fractions of shares of additional com for the continuance of Columbias 1950
mon stock will be issued. Rights to pur construction program.
chase less than one share may be used Columbia desires to invite bids for such in combination with similar rights rep new Debentures on or about June 14, resenting in the aggregate one or more 1950, and to open the bids received in whole shares. American Natural pro response to such public inyitation on poses to enter into an arrangement with June 20, 1950. Accordingly, Columbia the National City Bank of New York, has requested that the Commissions New York, Agent, pursuant to which the order with respect to the issuance of the holder of a warrant, when forwarding or new Debentures be issued so as to permit the consummation of the financing mpresenting his warrant to the Agent for exercise of his rights, may place an order, on the schedule set forth above and such without charge, either to purchase such order permit shortening the period for additional rights as are necessary for inviting sealed bids to meet such sched subscription to one full share of stock or ule.
for the sale of rights in excess of those By the Commission.
necessary for subscription to a full share of stock. It is further stated that it will SEAL
ORVAL L . DUBOIS, be possible to purchase or sell rights Secretary.
through the usual investment channels, F. R. Doc. 60-4770; Piled, June 2, 19E0;
and that it is contemplated that arrange 8:47 a. m.
ments will be made for admission of the rights to trading on the New York Stock Exchange.
The warrants will be mailed to stock Pile No. 70-2399
holders whose addresses of record are A m e r ic a n N a tu r a l G as C o .
within the United States and Canada.
As to all other stockholders, advice of NOTICE OP FILIN G
the offering to holders of common stock At a regular session of the Securities will be given by air mail and the war and Exchange Commission, held at its rants held by the Agent for the account office in the city of Washington, D. C., o f such stockholders who may, prior to on the 26th day of May A. D. 1950.
3:00 p. m., e. d. s. t., on July 7, 1950, Notice is hereby given that an applica instruct the Agent as to the exercise, sale tion-declaration has been filed with this or other disposition of their warrants.
Commission, pursuant to the Public After that date, in the absence of such Utility Holding Company Act of 1935
instructions, all warrants held for such
stockholders will, if practicable, be sold and the proceeds, if any, remitted to or held for the account of the respective stockholders entitled thereto.
American Natural proposes to sell at competitive bidding pursuant to the re quirements of Rule.U-50 any shares of its additipnal common stock not pur chased through the exercise of rights or under the conditional privilege to pur chase, described above. It is stated that American Natural proposes to file a Reg istration Statement on or about May 24, 1950, and will invite bids for the purchase of such stock as soon as practicable after the Registration Statement becomes ef fective and prior to any offering to hold ers of outstanding shares of. American Natural common stock.
American Natural states that it may effect transactions on the New York Stock Exchange, in the open market, or otherwise for the purpose of stabilizing the price of its common stock. Stabil izing activities, if commenced, may be terminated any time but not later than one hour after the time fixed for the acceptance of a bid for the purchase of the unsubscribed stock. In connection with such stabilizing transactions, Amer ican Natural will at no time acquire a net long position in shares of its com mon stock in excess of 5 percent of the shares of additional common stock.
It is stated that the net proceeds from the sale of the additional common stock will be added to the corporate funds of American Natural to be used for cor porate purposes, principally additional investments in the common stocks of its subsidiaries.
American Natural requests that the Commissions order issue herein on or before June 12, 1950, that it become ef fective forthwith, and that American Natural be authorized to shorten the 10day notice period required by Rule U-50
to not less than 8 days.
Notice is further given that any inter ested person may, not later than June 8, 1950, at 5:30 p. m., e. d. s. t request in writing that a hearing be held with re spect to the application-declaration, stating the nature of his interest, the reason for such request and the issues of fact or law raised by said applicationdeclaration which he desires to contro vert or may request that he be notified if the Commission orders a hearing thereon. Any such request should be addressed : Secretary, Securities and Exchange Commission, 425 Second Street NW., Washington 25, D. C. At any time after June 8, 1950, said applicationdeclaration, as filed or as amended, may be granted and permitted to become ef fective as provided in Rule U-23 of the rules and regulations promulgated under the act, or the Commission may exempt the proposed transactions as provided in Rule U-20 a and Rule U-100 thereof.
By the Commission.
seal
O r val L. D u B o is ,
Secretary.
F. R. Doc. 50-4763; Filed, June 2, 1950;
8:46 a. m.