New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-05-28
PUBLIC UTILITY NOTES.

! The Consumers Power Company OF Min
nesota, has completed arrangements to &C
quirc not less than O. per cent Of the com
mon and not less than % per cent of tho
preferred stock OF the Minneapolis General
Electric Company. which does the entire
electric lighting and power business OF
I Minneapolis. Common stock was acquired
at 500 share and preferred stock at Sl9o a
share
| The Mississippi Valley Gas and Electric
| Company. organized under the laws Of
Maine by interests identified with the Stand
ard Gas and Electric Company, has IN
its charter tho purpose Of acquiring securi-
ties and developing electric, gas, railway
and water power properties. The company
will have s2,50ooOo per cent preferred and
s2,500ol1 common stock with 100000 ten
year . per cent collateral trust bonds or
the stock 100000 preferred and 81 10000
common will be issued. all Of which will he
owned by the Standard Gas and Electric
Company. The present issue " bonds is
100000. Bonds are callable at any interest
period at iG and interest, and are Guaran-
teed, principal and interest. by the Stand
ard Gas and Electric Company.
Earnings Of the International Railway
/ Company, Of Buffalo, for the first three
months OF the present year show gains in
gross and surplus over the corresponding
I periods Of 1911 and 1910. All the stocks Of
this company are owned by the Intcrna-
/ uonal Traction Company. The statement
/ for three months ended March 81 IS as
/ follows:
Cross earnings. s1.isS8o4 sl.l&sial so OH
1 Net after taxer 24OIg1 344213 p 1856
! Surr. aft, chSs. 1851 l3939S 42O9
decrease
J 1t is expected that in n few months the
! financial reorganization Of the company will
be completed, and with plans for refunding
OF the International Railway Company
bonds also completed, it is believed that the
latter corporation will be in a position to
resume payments cf dividends, and thus
provide means for the payment OF bond in
tcrest and preferred dividends by the Inter
national Traction Company.
| The Consumers Power Companv operates
public utility properties in ST Paul. AIinneap-
oils. FariOdult, Mankato, saltwater. North
! field. Cannon Falls, Moorhead, North Grand
/ Forks and East Grand Forks, MINI: Grand
/ Forks. Fargo and Minot. y. D.: Galeua. Ill,
and surrounding territory and Platteville,
| Wis. 1t operates about 9OoO-horsepower
! hydro-eectric plants and controls unde-
veloped sites of ooO-horsepowcr additional.
| Net earnings OF the Consumers Power
Company for the year ended March ST. 1912.
after deducting all charges prior TO com
mon and preferred stocks Of Northern
States Power, We're SGOl,7ll; divided
| charges on Northern states Power. includ-
ing new issue, S5l7,CG9 leaving surplus for
the year Of 1852. II is estimated that with
economies to be placed in effect during the
( present year surplus for the year ending
! July 81 1915 VIII be S59oC0"
| The Northern States Power Company.
which was organized In 1909, will have with
| the issue Of the new stocks, $5.0CJ"0 per
cent bonds, 1886 oo per cent preferred
and s6.225,0jQ common stock, It has paid
regular dividends on its preferred stocks
since January, 1910