New-York tribune., 1913-07-25

The report Of the Great Western Power
Company for June and the six months
ended June 80 shows an increase I'm sur
plus for the month of si3. .4S3 and for the
period of sl56,ia. The report is as fol-
lows:
Month of June 1918
Sfoss operating income. .............S .S226 9lQ 10
Operating expenses and taxes s....... 60. 800 90
Net operating income. .s1G0, ,511 80
O'"er income ....''.'''............ 1892 10
Net income from all sources .... .s175 si3 %
Bona interest NEUTRALITY-SUSPICIOUS.. -. los 80
Surplus for month Of June. 1913. -. $50 7O5 90
surplus for month Of June. 19l2.... 1921 -
Increase, 1913. over l912......... $43 4s3 II
Gross operating income. ..s1,317 oO5 35
Operating expenses and taxes ....... 426S5G o.
Net operating income ............ Ss0i $40 rs
Other Income OBSERVATION-DISCLOSURES. No lo2 "a
Net income from all sources. .... S97G 65l 32
Bond interest NEUTRALITY-SUSPICIOUS.. 5GS 3jl IS
1918 ....".......,......,..... ,4Os 299 "a
i9i2 ''.'., s251 s15 90
Increase. 1918. over 1912 ........ .sl5e,4s4 81
PHILADELPHIA COMPANY, OF PITTS
BURGH. \
The Philadelphia Company, Of Pitts
burgh, reports for the first quarter of the
present fiscal year for April May and
June.
1915. Increase
Gross earnings .......... ST. l53.OOO S7Sj.Wo
Operating exp and taxes $1,000 ag ag9'na s,sl
Surplus Observation-Disclosures. WS,5" "o''ooo
Utah Securities Corporation.
The Utah Securities Corporation, which
last tall made an issue of 100000 per
cent notes. which were underwritten by q
large syndicate, has made a call of . per
cent on the underwriters of these notes.
This makes 81 per cent in calls made upon
these underwriters the last previous call
having been Of per cent on June q. At
the time the issue was made II was not
expected that more than 80 per cent OF
the amount subscribed would be called as
IL was thought that the notes would be
retired by the sale of bonds of the Utah
Power and Light Company, but the com
pany was prevented from making any
issue at this time on account of the poor
condition of the money market and the
lack of demand for bonds. There were
SIG. S5s 800 of these bonds outstanding on
June /. 1913. which was increased Dy the
per cent call on June ., and viii be
further increased by the per cent can
lust made. Utah Power and Light and
other subsidiaries of the Utah Securities
CORPORATION are showing good gains IN
earnings, and in spite Of the fact that
the project is still largely In the nature
of construction proposition fixed
charges are practically being earned
from operation of existing plants. for
the twelve months ended June 80, 1913,
gross earnings of Utah Power and Lhsht
were 81, ,5iS. .2l2, an increase Of per cent
over the preceding year. and net earnings
were $S75, ,09l, an increase OF per cent
over earnings Of the combined properties
for the twelve months ended June 81 WI
Detroit Edison Company.
The Detroit Edison Company in its re-
mort for the six months ended June 20
shows a gross from all sources OF $2''ol'-
474. a gain Of pa per cent over the same
uerIod Of last year. Operating expenses
for the same period increased about -e'
per cent. and net income amounted 10
81 l6G.5l4. an increase OF IS per cent. lhere
WAS a reduction i'm interest charges as
large amount OF the convertible bonds oil
the company were exchanged into stock
The surplus available for dividends and
depreciation for the six months was
sS24 7s2. an increase of 4S.4 per cent
s2fS. go was charged for depreciation
leaving &Sl $50 applicable % DIVIDENDS ior
the first half of the year, an increase OF
us per cent over the same months oi
last year.
West Penn Traction and Water Power
Company.
The West Penn Traction and Natcr
Power Company. for the year ended June
en 1913. showed gross earnings of A,lSl''-s'
an increase of sl.5l5 433, and net earnings
Of 81 s39.3S9 an increase Of $jiS,'Z3. Inc
statement compares as follows;
1918 1872.
Co.. ..rninRs S41Sl,T2S 81 6It. 80
operating exp. and taxes. 2.342."a9 l'"''''zJ
Net earnings ...........si S3g'SsS '.Sy 49
Fixed charges .....'.''''' i'''''''
S70l e2i SGe7. .237
baIdHce '5,.iSo,ds on 900 23j.OtD
e.-,,,. ...... s55692l si32. 23T
EuTulAE
During the last eighteen months th9
coupany expended about 100000 Tor eN-
tensions. improvements and bettermeh'S
and in the acquisition of new properties
which has been responsible for the IN
crease in fixed charges The remarkaoie