An offering is being made of $1,500,000 Laurentide Power bonds at 90
and interest.
The segregation of the Laurentide (Paper) Company’s water powers last
year, to the Laurentide Power Company, created a new and very powerful
factor in the hydro-electric situation in the Province of Quebec, and
particularly as regards Montreal.
The new company was formed by the Laurentide (Paper) Company, with a
capitalization of $7,500,000 of common shares, and the money derived
from the sale 5% par value of first (closed) mortgage bonds, due 1946,
and $10,500,000 of these securities was used to finance the development
of the water power to a present capacity of 125,000 horse-power.