New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-06-22

THE UNITED ELECTRIC LIGHT AND POWER CON.
PANY is consolidation OF the Edison Electric lumna,-
ing Company with the Brush Electric Company and
owns all the bonds and all the stock Of the Northern
Electric Company. thus being practical consolidation Of
ALL THE ELECTRIC LIGHT COMPANIES F9iNG
BUSINESS IN THE CITY OF BALTIMORE
The Capitalization Of the United Electric
Light and Power Company In as foiIowsi
First consolidated mortgage "a
per cent. 3o-year gold bonds. $i,oo'VU
= per cent. cumulative preferred
s'"'h ''''''. 80, 90,
Common stock. ACKNOWLEDGEMENTS. Z,Voo.Voo
statements prepared from the books OF the con-
sttuent companies operated separately and in active COM
petition show for the twelve months ending December
3ls 1898 combined gross earnings Of over 10000. and
for years past income considerably In excess
OF the present fixed charges Of The United Electric Light
and Power The reports OF experts indicate
great operating expenses as direct result
of consolidation Of the several companies thereby
largely increasing earnings apart from any es
tmated increase in gross receipts.
The FIRST Consolidated MORTGAGE BONDS OF
The United Electric Light and Power Company are coupon,
Of 900 each payable bearer. with privilege Of regis
raon Of principal and are lien upon all the properties
rights franchises. etc, owned witch may here
after acquired by that Company subject only |"
$2es underlying bonds outstanding Principal and In
terest payable gold coin OF the United States Of or
equal to- present standard Of weight and hneness.
without any deduction for any which the
Company may required to retain or deduct therefrom
by any present law of the United states or Of
the State OF Maryland for State purposes.
Interest payable semi-annuay the first Of November
and first OF May banking house OF Alexander Brown
q Sons Baltimore.
Maryland Trust Company Trustee Of the mortgage
or the total amount Of consolidated bonds author
tied under the mortgage s26S 900 are 20 be reserved 10
provide at or maturity for equal amour, OF
underlying bonds being total amount Of such bonds
outstanding 100000 bonds be held in the
treasury Company be issued only If and future
requirements Ok the Company may demand. leaving
81 232 coo bonds be issued at once
The PREFERRED STOCK. OF the par value OF $50 per
share is mitef to 1000 shares OF which 5000 shares
are to be OF the Company. to b
Issued only and future requirements OF the Company
may demand
This stock entitled cumulative preferential divs-
payable Of the net earnings OF the Company a
the rate OF per per annum, annually. Noysn-
Der first and May first in each and every year
Application will made have the bonds and preferred
stock listed on the Baltimore Stock Exchange.
After careful investigation have purchased the above
e. 900 bonds the T. 900 shares OF preferred stock
and now offer bonds for sale at and accrued n
terest and preferred stock at forty dollars $40 per
share and dividend at which price this stock
would Yield net income 81 about Ga per cent. per
snnum Each 20 be paid for Monday. the Sd day Of
Julv 1899 at time negotiable receipts will be
Issued exchangeabe bonds and preferred stock II tho
engraved bonds and certificates Of stock are not then
-.ady for delivery
Copies OF the Agreement of Consolidation. mortgage.
coun.es opinion etc. nay be the Office OF the
undersigned
subscriptions FOR the preferred stock will b.
received o'clock Friday, the 23d day Of June.
1890 but the right reject applications
close the subscriptions earlier than the said date and 70
aot than those applied for. Alotments
made promptly possible after the closing Of
subscriptions.
ALEX. BROWN & SONS,
BAL TIMORE TRUST AND GUARANTEE CO.,
BALTIMORE, MD.
June 10th. 1899.