New-York tribune., 1899-06-20

THE UNITED EL5rTRIc LTGHT ASD POWER COM
PANY consolidation OF the Diison Electric iumna-
ing Company with The Brush Electric Company. and
erns all the bonds and all the stock of the Nor'hein
Electric Company. thus being practical constellation OK
ALL THE g.DcTRic LIGHT COMPANIES DOING
BUSINESS IN THE CITY OF BALTIMORE
The apI tn II Isntion of the United Electric
Light and Power Company 10 ms follows
First consolidated mortgage ~
per cent. 3o-yenr gold bonds. ssop'co
per cent. cumulative preferred
stock .........+...--. ...........'.. ''"""'or'
Common stock k....................... Z,ooo'pp
prepared for from the books ot ne con
stituen compines operated sepsraey ard In active com
petition show FOR the twelve months ending December
5is' ises combined earnings y over scJZ ana
years past income considerably In excess
present n1ed charges ot The United Electric Agh,
and Power COMPANY The reports d exgerts indicate
great operating expenses a. direct result
Of the Consolidation of the several companies thereby
largely increasing the not earnings apart from any
tirnated Increase In gross receipts
The FIRST CONSOLIDATED MORTGAGE BONDS of
The United Lght and Power Company are coupon
Of 81 Zach payable t>arsr with privilege of regis
,raon q principal and are lien upon all 'he properties
rights franchises. etc. owned or witch may here
after be acquired by that Company. subject only 70
s2esoo0 underlying bonds outstanding Principal and IN
terest payable gold Of the United states o. or
equal TO- the present standard u weight and hnsne-s
without any deduction for any taxes which the
Company NAV be required retain deiuc, iherefrom
by any presen, or future law u United of
the Stat. Of Maryland for state purposes
Interest payable annually the hrs Of November
MAY the banking house = Alexander Brown
Sons. Baltimore.
Maryland Trust Company Trustee of the mortgage.
OF the total amount first consolidated bonds author
lied under the mortgage s2s 90 be reserved 70
provide before maturity. FOR an equal amount =
underlying being the total amount u such bon-
outstanding 5000 Ooo bonds 20 be held in the
treasury the Company be issued only end a. future
requirements Of the company may demand lesNtns
50 232 900 bonds issued Of
The PREFERRED STOCK OF the par value Of $50 per
share Is limited 2DO0O shares of which 1000 shares
are 70 be reserved the treasury of the Company 20 -
lssued only II requirements u the Company
MAJ demand.
This stock Is entitled 70 cumulative preferential divi
dends payable out earnings Of the Company al
the rate o, per cent per snnum semi annually. Novem-
Der hrs, and May first in each and every year.
Application will be made have the bonds and preferred
stock listed" on the Baltimore stock Exchange
After careful investigation have purchased The above
s. 232 the u 90 shares 81 preferred stock
and now Offer the f'r sale and accrued tn
eres and the preferred stock at forty dollars H41 per
share and accrued divid"rd AZ which price this stock
would yield a income - about g. per cent per
annum Each 20 paid for on Monday. the 80 day =
July 1890 which time negotiable receipts vii be
issued exchangeahe bonds and preferred stock u the
engraved bonds and certinca'es o s'"k are h' the"
ready FOR delivery.
Copies of the Agreement % Constellation. mortgage
counsers opinion. i~ seen OF he Once ~ me
undersigned
subscriptions for the and preferred stock will be
received until i2 O'Clock Friday. TIE &3d day - June
1890 but the right s reserved reject applications. to
close the subscription, EARLIER hsn the sa date and to
ailot smaller amounts those applied Tor Aomen's
will be mad. as promptly possible after the closing of
subscriptions