<PAGE> 1
RULE 424(B)(3)
FILE NOS. 33-60108 AND 33-59369
PRICING SUPPLEMENT NO. 1 TO REGISTRATION STATEMENT NO. 33-59369
AND PRICING SUPPLEMENT NO. 4 TO REGISTRATION STATEMENT NO. 33-60108
Dated September 28, 1995
(Prospectus dated August 9, 1995, as supplemented
by the Prospectus Supplement dated September 20, 1995)
$150,000,000
PIEDMONT NATURAL GAS COMPANY, INC.
MEDIUM-TERM NOTES, SERIES B
DUE NINE MONTHS OR MORE FROM DATE OF ISSUE
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<S> <C> <C>
Principal Amount: $55,000,000 / / Floating Rate Notes /X/ Book Entry Notes
Issue Price: 100% /X/ Fixed Rate Notes / / Certificated
Notes
Original Issue Date: October 3, 1995 Maturity Date: October 3, 2025
Original Issue Discount Notes: / / Yes Total Amount of OID:
/X/ No
Yield to Maturity:
Initial Accrual Period:
Interest Payment Dates: January 1 and Record Dates: December 16 and June 15
July 1 of each year and at maturity next preceding the Interest Payment
Dates
/X/ The Notes cannot be redeemed prior to /X/ The Notes cannot be repaid prior to maturity.
maturity.
/ / The Notes may be redeemed prior to maturity. / / The Notes may be repaid prior to maturity at
the option of the holders thereof.
</TABLE>
<TABLE>
<CAPTION>
Optional Optional
Redemption Redemption Repayment Repayment
Date(s) Percentage(s) Date(s) Percentage(s)
- ----------- -------------- ---------- --------------
<S> <C> <C> <C>
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APPLICABLE ONLY TO FIXED RATE NOTES:
Interest Rate: 7.40%
APPLICABLE ONLY TO FLOATING RATE NOTES:
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<S> <C>
Interest Rate Basis: Maximum Interest Rate:
/ / Commercial Paper Rate Minimum Interest Rate:
/ / CD Rate Spread (plus or minus):
/ / Prime Rate Spread Multiplier:
/ / Federal Funds Effective Rate Interest Reset Date(s):
/ / Treasury Rate Interest Reset Month(s):
/ / LIBOR Interest Reset Period:
Initial Interest Rate: Interest Payment Month(s):
Index Maturity: Interest Payment Period:
Calculation Date(s): Calculation Agent:
</TABLE>