The Providence news. (Providence [R.I.]) 1891-1906, 1897-01-20
A RHODE ISLAND ENTERPRISE.
Bonds OF The PawIuckei Electric Company
Can Now Be Secured.

Bonds OF The PawIucke' Electric Company
Can Now Be Secured.
Among the important offerings Of
what might be termed local stocks is one
| OF s10O, 900 OF the bonds of the Pawtucket
Electric company, which is made by Dean
n Shibley, Bankers, 75 Westminster
| street.
The Pswtuckct Electric Company Is
| composed OF what wss originally the
Pawtucget Electric Lighting Company
and the Bridge Mill Power Company.
Isst year the two were com binod and the
new com psny was chartered b. q special
act OF the Legislature wfich was passed
at the session of January, 1925.
The bonds that are now offered for sale
are in denominations OF $1,000 each. They
are gold bon Dis, dated June ], 1855 ana
run for twenty years, tearing interest at
b per cent. per annum, payable semi-an-
nuaily at the banking roomSf the Rhode
Island Hospital Trust Company, the trus-
tee of the compsny. The bonds are pro-
tected by first lien or mortgage on ell
the land and other properties OF the COM
pspy, Including all its streets lines, right
and franchises. These properties consist
of large tract Of land In the very heart
Of the city Of Pawtucket. with two large
brick buildings used as power stations.
4 he development OF the water power ana
the general equipment of the company,
especially in the case of the North sta
ton, is said by experts, TO be the best
and most complete OF any in New Eng
land. Besides this, the company owns
100 miles OF stree, lines and furnishes, in
the city OF pswtucket alone, s0o arc and
5000 incandsscent lights, the later beng
OF 16 candle power. Ihe corporation also
sells its power ana heat i'm other locali
ties and to the general public, thi, being
q source OF considerable income. The
last trsnscript of the company's books,
which was made on most conservative
basis and was exclusive Of franchises,
shows actual assets of Sl,052, l65. 13, and
the net earnings of the company for the
six months ending October 81, last, were
500, 726.00 or nearly two an d one half
ii mes more than the interest on the
bonds outstanding, and as tbs business
10 now rapidly increasing the income is
bound to show a healthy an ! steady gain.
what appeals most strongly tn the
people of Rhode Islsnd is that the man
ngement Of the company is most strong
and conservative and includes among it's
officers and directors mauy OF the best
known business men of the state. Tho
present list OF officers IL as follows: Presi-
dent, Darius L.. Goh; vice president,
George M. 1hornton; secretary, treder
lex W. Easton; treasurer, Henry A.
Pierce; directors, stephen A. Jencgs,
treasurer OF the Fsles d Jencks Machine
Company; Lyman Il. Gof, President OF
the Union WaddinC Company; l.. M. Dsr-
ling, President of the PawtGcket ,;as
Com pany Epen N. LittIeneld, treasurer OF
the it,lefield Man ufscturing Company:
Darius l.. Goff the president OF the ID.
Con q Sons Company; Frederick W.
Easton, treasurer of the Esston & Burn
ham Manufacturing Compsny,and Gsorge
NJ. thornton, treasurer OF the Union
wadding Company.
Under such management IL would be
mendstion of the company and the tiCo,-
600 gold bonds that are now offered by
Dean n Sbihley wi undou btedly find
resoy purchasers among tue local iuves-
tors who are anxious to find safe and re-
numerstive securities.