Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-01-26
PUBLIC SERVICE
STOCK IS LISTED
ON n !. EXCHANGE
$25,OOO,O 900 Worth of Corpora
TONS Paper Will Be Ac-
cepted as Collateral.

Through the listing of $25, 900, 900 of
the stock of the Public Service Cor
poration by the New York Stock Ex-
change there is probability that the
local money market will be greatly re-
iieved, providing cash for new invest
ments in this city. This is made pos
sible by the fact that the stock will
he accepted by New York banks as
collateral on loans, enabling the trans
Ter of not a few large loans and some
smaller ones from Newark to New
York financial institutions.
Trading IN the Public Service stock
began on tho floor of the Stock Ex-
change today, the stock having been
listed late yesterday afternoon. The
closing price here Yesterday was ZIG
id, and operations in New York began
at this figure. 1t was not long before
the security went upNone point. at
which quotation 100 shares were ac-
CURED by Eisele & King from Clark,
Dodge & Co. Following this trans
action the stock became dull, but re-
NAMED firm at III bid and nothing
offered under 100.
With the application for the listing OF
the stock, the corporation submitted,
as required by the rules of the ex-
change, a statement of it's general
financial condition. The report, which
is for the yea ended December 81 last,
shows a balance to the credit of profit
and loss at that tim of 81, 7oe, 1898.
Gross Earnings of Company.
The gross earnings of the corporation
and its leased and controlled ON
panies for the year amounted to $29,-
205, 194.15, while the operating expenses
and taxes are placed at $14,611, 297.5I.
After deducting the latter sum from
the gross earnings there was left $14,-
500, S96. SO.
From that there was taken for bond
interest and rentals of leased and con-
trolled companies $40, 55S, 243.03, leaving
S4,035. 65S. 55. Out of the latter sum there
was her taken as fixed charges Of the
Public Service Corporation 81 1886, $685.
That left as the combined surplus of
the Public Service Corporation and It's
subsidiary concerns S 1900, 297.69, from
which there was deducted and set aside
as q reserve 1926, 900 and 81, 250,0 900 divl-
dends paid during the year by the cor
poration.
These deductions left $S25, 297.69. Out
of thai was taken the surplus of sub
sidiary companies not declared as divi-
dends and the surplus of these con-
Germs that were declared as dividends
to minority stockholders and to the
holders of the preferred stock of the
New Jersey and Hudson River Railway
and Ferry Company. These deductions
left to the credit of profit and loss
1921, 917. 93, which, with the balance of
b previous year, and $4,662.31, which
was added for adjustment, brought the
total up to 81, FOG, 1923.
VIII Maintain New York Office
In applying for the listing of the
stock the corporation agrees to main
tain an office in New York for the
transfer of it's stock and to give ten
days notice in advance of the clos
ing of It's books for any purpose. II
also agrees not to dispose of it's inter
est in any constituent company or al
low any of the latter companies to dis
pose of their interests in other con-
Germs except on direct authorization
Of Stockholders
The corporation further pledges it,
self not to speculate in it's W securi-
ties or in those of its constituent COM
panies ana not to permit speculation
by any Of the latter concerns. The cor
poration also agrees to publish annual
statements of it's physical and financial
condition, a balance sheet showing as
sets and liabilities, and income accounts
and balance sheets of it's subsidiary
companies.
The stock certificates are to be in
interchangeable form. In New York
the Trust Company ia 70 he
the registrar of stock. and in Newark
the Fidelity Trust Company will act in
tho same capacity. The transfer agent
in New York will be the Guaranty
Trust Company.