New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-06-06
PUBLIC UTILITY NOTES.

The Middle West Utilities Company re-
Gently organized as d holding organization
with Samuel insult and associates as the
power behind in direction, has not made
formal notice OF the list of properties 10 be
included i'm its initial operations. Four or
the PROPERTIES reported by those in close
touch with the proposition are the Louis
willie & Northern Railway and Lighting
Company, the Louisville & Southern Ind
lana Traction Company. the United Gas
and Electric Company OF Southern Indiana
and the New Albany GndD Water Com
psny For the present the capitalization or
the Middle West Company will be 100000
per cent preferred and 100000 common
stock No change will be made In the
management of the properties, the new cor
poration being holding. not an operating
organization.
The Louisville & Northern Railway and
Lighting Company operates twenty miles
Of electric line out of Louisville into lnd-
lana. and controls the other properties
named under stock ownership The com
pany has $4,000 common, $1,000 b per
cent preferred stock and 100000 . per cent
bonds The United Gas and Electric Com
pany does the electric lighting, power ana
gas business in New Albany and Jefferson
VILE Ind. and in nearby smaller towns.
II has 81 100000 stock and {l193,W0 BONDS
and controls the Louisville & Southern Ind
lana Traction Company. which operates
thirty-seven miles Of electric line in New
Albany and Jacksonville
The latter company has $2GN,0)o COM
mon. s435. 900 6 per cent preferred stock and
eta IFs,t..
Company has S232. $50 stock and $i1, 90 per
cent bonds All OF it's stock is owned bv
the Louisville * Northern Railway and
Lighting Company. Much extension work
is being planned for the traction lines, and
arrangements are To be made for through
route between Louisville and Cincinnati.
Under traffic agreements the company now
has through route between Louisville and
Indianapolis
The Havana Electric Railway Company
on December 81. 1911. closed the most sue
oessful fiscal year In its history The i'm
prcvcment i'm gross. net and surplus earn
ings was substantial. and after meeting all
charges and preferred stock dividends there
was left a surplus available for the com
mon stock equal to SSl per cent on the
S74G3,630 outstanding, as compared with
IA per cent I'm the year previous ana DBL
per cent I'm 1893 The report shows that the
property was greatly improved during the
year, several additions having been made
in the various departments.
Gross and net earnings per mile during
the last fiscal period were the most favor
able i'm the history OF the property. The
operating ratio was slightly higher than III
the previous year. although, as compared
with 1905 and 1897. It represents q liberal say
ing in this respect There has been grad
ual Improvement In per mile operations 81
the property for a number of years past.
For instance. In 1871 gross per lnllt VIZ
more than $4,000 per mile in 1911, and the
1901 net per mile was less than Si''"" az
against $3.50 last year.
Tho returns ~ the Sac Paulo Tram"ay
Light and Power Company for April show
Improvement over the corresponding month
a year ago in both gross and net The gain
in the last mentioned Item was equal TO 2
per cent. which is the largest that has been
reported thus far In the current hscaI
perlod. But the progress made ~ net re-
turing OF the company since the beginning
OF the present year has been noteWorrS
II Is stated that the company had a very
large surplus available for dividends N 1911
and the promise IS that this total viii be
greatly exceeded iu the present year, -
there Is hope that stockholders nave Hoou
reason TO expect some benefits soon.
Tho Oklahoma Natural Gas earned lZ's
pcr cent OF. its 100000 outstanding caplt''
stock IN tho last fiscal period. as compared
with about 50, per cent In the year previous
and a.. per cent In the u months ended o"
February =. 1910. Gross. net ana surplus
earnings were the largest on record. Ihcfe
was written on during the year the sum oil
1924 $40 for depreciation and $500, PAID III
dividends after which there was lelt ~ 81 81,
rIus Tor M. j. months of more tnan s-la."0',
as coupared with about f-G.JD in the veal
previous. and 81, ls2 IN 1910
The Rio de JaueirU Trdmway Lisht ana
Power Company since January ! last mas
made very satisfactory improvement IN
earnings and II the same rate Of increase
continues during the remainder OF l9l- ths
not this wear Will be over N,"L"v hhtdu Vl
ITi During the first four months oi l'lII
the net Increased II per cent ana I'D AplH
The Improvement was equal 10 = per Co't
ms compared with the same month !'''