The San Francisco call., 1904-03-01
ABSORBS TWO
BIG COMPANIES
California Gas and Electric
Corporation Buys Large
Power Supplying Plants

One Of The largest deals that has
taken place in this city for some time
was contaminated yesterday at meet
ing Of the board Of directors Of the
california Gas and Electric Corpora
tion. when the systems ct the Stand
ard Electric Company Of California and
the United Gas and Electric Company
were purchased. The California Gas
ana Electric Corporation III assume
control 0f its new holdings to-dsy.
The deal gives the California Gas ana
Electric Corporation a monopoly IN the
supplying Of electric power 70 twenty
Of the principal counties in the State
The two companies absorbed yesterday
are extensive concerns, each capitalized
highly.
The Standard Electric Company Of
California bore. capitalization of
s.. 0o0 900. authorized stock and s., O00 600
in bonds. all issued and outstanding.
The United Gas and Electric Company
mas capitalized at 81 SOC, 600 in author
lied stock, or which s., 286 600 is out
standing. and s. 100000 in authorized
bonds. u which 81. 100, 0O0 is outstand-
ing.
The purchase price paid for the two
concerns is kept secret by the corpora
tion, but fl is known 10 he a high one.
The STANDARD Electric Company has
its main plant in .Am4dor county and
supplies the counties Of Sacramento
and san Joaquin. joining with the
United Gas and Electric Company in
supplying the counties around San
Francisco Bay, with lines running
9 h.. 10 Of
the bay into this city.
The California Gas and Electric Corr
pora 0en's holdings in the production
and distribution Of electricity and. gas
supply the northern-:and central west
6rn portions OF the State. The lines
.of the corporation extend from Butte
County on the north TO Fresno County
on the.south and from Placer and Anna.
dor counties on; the east to San Fran
,.ist,) ami the othcr Jay counties on the
west In brief, they supply all Of the
Sacramento and San Jo duin valleys
and the central counties o-lCalifornia. =.
The gas and electric concerns be-
longing to the above corporation, ex-'
elusive of the two purchased :yester-
day, are the Oakland Gas Light and
Heat Company, Sacramento Electric.
Gas and Railway Company, California
Central Gas and Electric. Company,
Bay Counties Power Company, Fresno
Gas and Electric Light Company, Val
ley Counties Power Company, .CapitQr
Gas Company, Central Electric Rail-
way Company, Butte County Electric
Light and Power Company, Chico Gas
and Electric Company, Colusa Gas and
Electric Company, Marysville Gas and.
Electric Company, Napa Gas and Elec-
trio Company, Nevada County Gas and
Electric Company, Petaluma Gas and
Electric Company, San Rafael Gas and
Electric Company, Santa Rosa light
ing Company and the Woodland Gas
and Electric Company.
The board of directors of the cor
poration are: +. ]. de Saba Jr., presi
dent; John Martin, vice president; John
c. Coleman, second vice president; r.
NJ Hotaling. treasurer; John A. Brit
ton, general. manager; c. w. Conhsk.
secretary: F. w. Ziele, president 0f the
Mercantile Trust Company; F. B. An
derson, vice president of The Bank of
California; n. d. Rideout, banker; j.
Henry Meyer of the Antoine Borel
Banking Company, E. w. Hopkins and
i G. Drum.
The following is the monthly state
ment of earnings for January issued
by the California Gas and Electric
Corporation: Gross earnings, $685.
513.O5: expenses, s147,763 SS; profits,
SI2S,74al7; interest on underlying
bonds. s35,76 "A; interest on corpo-
ration bonds. $S3.SS3 80; net surplus.
S59.65O 10.