New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-05-30
PUBLIC UTILITY NOTES.

The Texas Power and Light Company has
been incorporated under the laws of Texas
TO acquire and operate electric light and
power and gas properties in Texas. 1t VIII
take over Immediately all the properties
rights and franchises OF the Waco Electro
and Gas Company. the Cleburne Electric
and Gas Company, the Hillsboro Electro
and Gas Company the NaNahachie Flee
trict and Gas Company. the Temple Lice
trio Light Company. the Sherman Electric
and Gas Company, and the Ronham Elec-
trio and Gas Company.
These companies do the entire commercial
electric light and power business In All the
cities served, the entire gas bushes III
Waco and Cleburne and the municipal eiec-
trio light business In all the seven clties
served except Sherman
The purchase of these properties Is helns
| financed by the Electric Bond and snare
Company presumably in the interest OF the
American Power and Light Company. when
already controls the Kansas Gas and Elec-
| trio Company, the Pacific Power ana Light
Company and the Portland Gas and Coke
| Company, and whose fiscal agent IS the
| Electric Bond and Share Company.
The Texas Power and Light Company mas
! an authorized capital stock of SlS,cp""-
! 100000 common and $4,000 per cent
| cumulative preferred. redeemable at 10 per
/ cent of par.
! Wfliams. Mcconnell & Colman have Is
| sued the following digest OF the Electric
Bond Dcrosit COMPANY. II was organized
in February, 1912:
Capitalization Authorized. Standing
Preferred 90 per cent oumu- .,o ma ooo q Zoo oon
! ,,,,,,,o,' - 5000 0o0 100000
! The preferred pays monthly DIVIDENDS
/ o. Of ] per cent? on the FIRST OF eaci
month and this dividend is guaranteed
bv the Gas Securities Company or Ne"
/ York until the Ozark Power and water
COMPANY shall have earned. for one full
wear. the interest on its outstanding
bonds and dividends on its outstanding
! preferred stock.
! The Electric Bond Deposit Company Is
/ holding company organized under Inc
/ laws Of the state Of Delaware for the
rur.uose of purchasing and holding un-
deriving issues Of electric and gas enter
nrises and selling such securities when
their market values have become estab-
| lished
The company now has in ita treasury
! 81 500. 600 first mortgage forty-year per
cent bonds. $4,000 per cent cnmu-
lative preferred stock and s262,50O com
mon stock OF Ozark Power and Water
| Company.
These securities have been issued TO
finance the first development of fifteen
thousand horsepower hydro-cleCtric plant
now i'm process of construction. 10 be
completed and in operation on or before
April I. 1919, together with about 100
miles Of high tension transmission lines
and necessary feeders and sub-stations
TO supply the traction lighting and power
requirements in Springfield. Mo. and ad-
| iacent territory and to connect in and
feed the excess current TO the Empire Dis
trict Electric Company at Joplin, Mo.
April earnings OF the Twin City Rapid
Transit Company were slightly better
than during the corresponding month q
| wear ago, as were also those for the four
months ended April so last Gross earn
ings for April Increased about ~ per
! cent. the net little over ~ per cent
! and surplus over charges and preferred
stock dividends was higher by about ! =
nor cent. For the four months the gain
|
per cent, the net l per cent and the sur
J plus over charges and preferred dividends
a little over = Of per cent.
In April the surplus over preferred
dividends was equal 10 about 2. of per
cent on the s2o.lOO,O00 outstanding COM
! mon stock, or at the annual rate OF 9i2
per cent, while for the four months the
percentage earned on the Junior issue was
equal 10 2O4 per cent, or at the annual
rate Of over So. per cent.
In April the ratio of expenses to gross
revenues was 5l.59 per cent. as COM
pared with 5155 per cent in the year
! previous, and for the four months the
percentage was $3.50. contrasted with
! 59S5 in 1911. Maintenance allowances
show but slight change from the previous
wear. but in April there was substantial
saving in conducting transportation eX-
/ penseS although for the four months
! there WAS small increase in this item.
The Bangor Power Company a sub
! sidiary Of the Bangor (Me) Railway and
/ Electric Company, will complete develop
ment Of tho hydro-electric property at
I Veazie. Nc. The company will construct
a dam OF reinforced concrete 80 feet
long. developing about $4,000 horsepower
/ The company now has station at Neazie,
but the demand on ii for power is show
ing such an increase that additional cur
rent must be provided. The Bangor Rail
! way and Electric Company operates sixty
five miles OF traction line. does the light
! ing and power business for Bangor, Ellis
! worth, Mount Desert and several other
! towns and also supplies several with
| water.