New-York tribune., 1913-02-22
PUBLIC UTILITY NOTES.

Practically all the stocks OF the Will
mington & Philadelphia Traction Com
pany, the Pittsburgh City Light and
Water Company and the Water Com
pany OF Tunopah, New. has been pur-
chased by the National Properties Com
pany. the new organization recently in
corporated with capital of 100000 900 .
per cent preferred and slo,o0,0O0 common
stock
The Wilmington 4 Philadelphia Trac-
ton Company has capital of s6,5ooOo
and has 999 year leases on the Wilmington
city Railway, the Wilmington * Edge
moor Electric Railway. the Gordon
Heights Railway. the Front Union
Street Railway and the Wilmington City
Electric Company. The earnings of the
Wilmington Il Philadelphia showed an in
crease of 10 per cent over January. 1872.
The Ohio Public Service Commission
has received application from the newly
organized Columbus (Ohiol Railway Light
and Power Company for permission to
take over the Columbus Railway and
Light Company, the Columbus Railway
Company. the Columbus Edison Company,
the Columbus Traction Company and the
Columbus Light Heat and Power Com
pany. All these companies have been
leased 10 the Columbus Railway and
Light Company. and the consolidation is
part of plan 10 reorganize the public
utilities of Columbus. The Columbus Rail
way and Light Company was affected by
n strike about two years ago. which
forced the company TO turn its business
over TO T.. W. Clark & Co, of Philadel
phia, for operation and financial reorgan-
ization. 4 plan has been prepared after
considerable negotiation with stockhod-
ers of the underlying companies. by which
stocks of all the old companies will be
exchanged for stocks Of the new corpora
ton. An assessment of so a share will be
called on the Columbus Railway and
Light stock, which is but 20 per cent paid
up, and by this payment the stockhold-
ers Of that company will share in the eX-
change Of their stock for stock in the new
company
The report OF the Central California Gas
=
earnings of sl.i32. as compared with $3,5u
for January of 1912; net earnings for jan
uary. 1913, were Sl,7lj, as against 81 S01
for January OF the previous year The
company is now laying twenty-eight miles
Of high pressure gas mains TO serve a dis
trict with population three times
that now served by the company So .ar
the company has spent approximately
So O00 on this extension work.
The mining town of Lewisburs, Ala,
will shortly be connected with the rail-
way system OF Birmingham. The Birm-
ingham Railway. Light and Power Com
pany, which is a subsidiary of the Ameri-
can cities Company, Is 10 construct line
three miles long TO Lewisburs, which Will
cost about sl25.0oo.
Advices from Kansas City state that
receivers for the Metropolitan Street Rail
way Company. of Kansas city, and pub
lie officials of the city greatly vary I'm the
valuations of the company's property,
which were made for use in negotiations
for d new franchise. The receivers place
the present physical valuation of the Met
rOpolitan property in Missouri and Kan
sas at sl7.656j27, the intangible assets Of
the company, including franchise, going
concern, cost of electrifying. etc, at
Sl3lsl,5il The public officials Of Kansas
City, Mo. estimate the physical value
Of the property at $l6.412. .913 which allows
nothing for intangible assets. The recev-
ers' report recommends the immediate eN-
penditure OF about Sl.2i3,500 for rehabili-
tation of the property. and that A.39O,OU
should be provided for future better
ments including $4,000 for new cars
i'm the next ten years.