New-York tribune., 1899-06-21

rur UNITED ELECTRIC LIGHT AND POWER coma
pANY sa consolidation Of the Edison Electric illuminate
ing Company with the Brush Electric company ana
owns all bonds and all the stock OF tne Nor'ns'h
Electric Company thus being practical consoidauon OF
ALI. THE ELD-TRIC LIGHT COMPANIES poiN1
BUSINESS IN THE CITY OF BALTIMORE
The Capitalization Of the United Electric
Light and Power Company is as foilows'
First consolidated mortgage ~
per cent. 3O-yeRr gold bonds. .Sfooo'VU
per cent. cumulative preferred
STOCK '''.''.' '''''-''' A., 600 900
Common stock. ck....................... Z'VoVV
Statements prepared for from the books OF the con-
s,i,uen operated separately and In active COM
pet,tion show the twelve months endns december
3i.. 1908 combined gross earnings Of over 10000 and
for net income consderaDy IN exec"
OF the present charges Of The United Electric bsht
and Power Company The reports Of experts indicate
great reduction operating as direct result
of the consolidation Of the companies. thereby
largely increasing the earnings apart from any IS
timated increase in gross receipts
The FIRST CONSOLIDATED MORTGAGE BONDS Of
The United Electric Light Power Company are coupon
NJ 81 900 each payabe 10 bearer with privilege OF regis
,ra,on Of principal and lien upon all the properties
rights franchises. etc, now owned or "hch may mere
after be acquired by that Company, suo)eet only %
s2esOo underlying bonds outstanding Principal ana IN
tere.t payable in gold OF the United States o. or
equal 10 the present standard OF wegrt and hnenesA
without any deduction for tax or taxes which the
Company NAV be required deduct therefrom
BY any present law Of the United states or @
the State Of Maryland for State purposes
Interest payable sem-annIay the first OF November
end first OF MAY at the OF Alexander Brown
4 Sons. Baltimore
Maryland Trust Company Trustee Of the mortgage
OF the Of first consolidated bonds author
ICED under the mortgage S26sO to be reserved TO
provide before maturity. for an equal amount Of
underlying bonds the oal amount OF such bonds
outstanding 100000 bonds 10 be held in the
treasury Of tn. Company issued only and as future
requirements OF the Company may demand leaving
S3 232 600 bonds be issued at once
Tn. PREFERRED STOCK. OF The par value Of $50 per
share is limited 9oOo shares ot which 5000 shares
arc reserved in the treasury OF the Company TO %
only and future requirements or the company
demand.
This stock Is entitled cumulative preferential div-
dends PAYABLE earnings OF the Company az
the rate Of per cent annun senn-annu4y NoVem-
Der first and May first in each and every year.
.unlLaon will made 10 have the bonds and preferreo
.,o.. "i,sted.. ON the Baltimore Stock Exchange
After careful investigation have purchased the above
81 bonds and the 1000 shares OF preferred Stock
and now bonds for sale at par and accrued In
.res, and the preferred stock forty dollars 4O per
s,ar. ana accrued dividend AZ which price this stock
would Weld q net income ,, about Ga per cent per
annum Each be paid for on Monday the 90 DAY OK
July 1890 at which time negotiable receipts VIII Do
issued exchangeabe for bonds and preferd stock tho
engraved bonds and certificates OF STOCK are No, thea
ready for delivery.
Copie. of the Agreement OF Consolidation mortgage.
counses opinion. etc. nay be seen at the ONCE OF the
undersigned,
Subscriptions bonds and preferred stock will os
received until IL o'clock Friday the 23d day Of June
1899 but the right reject applications TO
close the subscriptions earlier than the said date and to
alot smaller amounts than those applied for Alo,ments
will be made promptly possible after the cosng'af
subscriptions
ALEX. BROWN & SONS,
BALTIMORE TRUST AND GUARANTEE CO..
BALTIMORE, MD.
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