Business & Finance: Mellons in Massachusetts

The number of U. S. corporations which can borrow $75,000,000 at one crack is relatively small, and their names are usually familiar to the average U. S. citizen. No surprise was the fact that Pacific Gas & Electric stepped into the capital market last week for $90,000,000 of refunding money. But when a banking group headed by First Boston Corp. and Mellon Securities Co., Inc. floated a $75,000,000 bond issue for Eastern Gas & Fuel Associates last week, many an investor had to plough through an 85-page prospectus to find out what the company did.

An integrated coal-coke-gas company, Eastern Gas &...

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