New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-07-17
PUBLIC UTILITY NOTES.

The Orc Electric Corporation. of Cali
1ornla' mas received permit from the
state Railroad Commission Of that state
10 construct its hydro-electric generat-
Ing plant In Plumas County, with trans
mission lines to a point near Lodi, all
the counties traversed from Butte to
Contra Costa
The commission required that the
bonds of the corporation, issued but I'M
released from escrow, be brought under
the jurisdiction OF the commission, with
respect to further public offerings. This.
the officials of the company state, they
will be very glad to do. The 100000 In
the hands OF the public will not be az
fected, but only the $s,00o,O0o to be sold,
as the funds are needed for future con-
struction work. II Is believed that the
fiotation Of the loan under the authority
CT the commission will enhance the mar
ket value of the bonds in future public
offerings.
Reports state that the Union Railway,
Gas and Electric Company is continuing
to show good gains in earnings. The
company controls traction. lighting and
power properties at Rockford, Belvdere,
Freeport, De Kalb. Sycamore, Peoria,
East Peoria, Peoria Heights, Averysville,
Pekin and Springfield, Ill; Evansville.
Ind; Beloit and GAINESVILLE, Wis. May
gross earnings We're s275, 795. a gain OF rs
per cent over May, 1911, while net earn
ings increased 3.3 per cent Owing to in
creased interest charges the surplus for
May showed a decrease of 40 per cent.
For the five months ended May 81, gross
earnings increased 1874 per cent over the
first five months Of 1911, with the net
earnings showing 121 per cent gain and
surplus 1L6 per cent gain. The actual
surplus for the nve months was s24S,5s7.
or at the rate Of s5ss.12s for the full
twelve months OF 1912. This is at the rate
OF 11.3 per cent on the S, 10000 Of pre-
ferred stock outstanding. or quite suf-
Accent TO pay the full per cent dividend
on this stock. and leave a balance OF
s2Sl, 129 on the 100000 common stock Of
465 per cent In 1911 per cent was
earned on the common stock OF the COM
pany. As the best earning months Of the
present year are yet TO come, II ts
thought that about 6 per cent will be
shown on the common stock for 1917.
The st. Joseph Railway, Light, Heat
and Power Company OF Missouri is thus
far showing much better earning power
than for the same period OF 1911. For
May the company earned a surplus Of
s1S,93O, a gain Of 2SS per cent over May
1911. Gross earnings. It IS said. increased
s. per cent and net increased 10 per cent.
The gross earnings for the FIRST five
months ended May 81 were a13.233. an
Increase of ST per cent over the first five
months OF 1911 Net earnings for the
same. period increased 1877 per cent, while
the surplus for the five months was sl4,
Ca a gain OF AIS per cent. The demand
for the service of the company has been
growing rapidly and plans are being
made for some extensive additions and
improvements TO the plant and equip
ment Of the company.
Announcement Is made that the trans
action involved In the control OF the
Columbia Gas and Electric Company wac
concluded yesterday afternoon at the Of
flee Of Messrs. J. & W. Selgman & Co..
the sale being made 10 a syndicate, OF
which Messrs. A. 3. Leach & Co. are
managers.
It is expected that the board OF d.
rectors Of the Columbia Gas and Electric
Company will be reorganized at an early
oy tho GaIiy-