New-York tribune., 1913-06-18

The Torrance Water. Light and Power
Company has filed an application with
the California Railroad Commission for
authority 10 issue sl25,000 6 per cent
bonds and $4,000 shares Of stock. the
proceeds to be used in purchasing the
water system recently owned by the
Dominguez Land Company
Utah Securities Corporation.
Gross earnings of the Utah Securities
Corporation for May were sl44,90S. as
compared with sl1s,391 for May of 1912.
an increase OF s26512 Net earnings
were SS1.309. as against s60.Ol2. an in
crease of s3l296. Gross earnings for
the FIVE months ended May 81 amounted
10 S679,447. as compared with $685.
for the corresponding period Of last year,
a gain of S70.735. and net earnings for
the same period of this year amounted
to s59S,il0, as against s347,692 for the
same months of 1912, an increase Of $50. -
71S.
Phladelphia's New Transit Department
The municipal transportation problem
has assumed such proportions that city
governments are beginning to realize
their responsibilities with regard TO
planning future rapid transit facilities.
a year ago the City Of Philadelphia be-
gan an investigation Of IT'S transporta-
tion DEFICIENCIES. under the direction Of A
Merritt Taylor. who was given carte
blanche in his campaign. Mr. Taylor en-
listed the services OF Ford Bacon ~
Davis. consulting engineers. New York,
who have specialized In transit problems
Of some Of the larger cities in the United
states. The result Of this work was
so satisfactory TO Mayor BlankenburS
and his associates in the Philadelphia
city administration that new depart
ment OF city transit is 10 he established
on July ] of this year and Mr. Taylor
is 10 become the director in charge ~
the official duties OF that new division Of
city government
Will Next Dividend Be Passed?
Uncertainty regarding the possible ac-
tion OF the directors on the common
stock dividend Of the Pacific Gas and
Electric Company caused Williams. Nc
Connell e. Coleman 10 wire A r. Hook
enbeamer. vice-president OF the company.
az San Francisco yesterday regarding
the prospect In answer 10 the telegram
the following message was received from
D. III. Foote. secretary Of the company
Your telegram of 18th 10 Mr. Hocken-
heamer; latter az present out Of town.
II is not possible at this time TO advise
definitely as 10 the continuance Of corn
mon stock dividend"
A rumor was current in Wall Street
which could not be confirmed that an
important meeting is to be held In New
York to-day. at which will be present
Samuel insult. OF Chicago; i. G Drum.
\. r. Hockenheamer and others promi-
nent in gas and electric affairs. The
purpose of this meeting was not hinte1
at in the stories circulated regarding II.
Kings County EIec. Light & Power Co.
The combined earnings statement of
the Kings County Electric Light and
Power Company and the Edison Electric
Illuminating Company Of Brooklyn for
May shows gross operating revenue of
s436.369, an increase Of sec. .66S over May
OF 1912. and net operating revenue was
s153.37o, gain OF slO.2l5. Net income
for the month amounted 20 sl03.656. as
compared with s68.51S for the same
month last year. an increase Of $35.l3S.
Gross operating revenge for the FIVE
months ended May 81 amounted TO 81
345.0S7. a gain Of sl45,O92 over the same
months Of last year, net revenue was
sao3,67O an increase Of ss6s and net
income for the period amounted to $751;
2s5. as compared with Si97.7S3 for the
corresponding period OF last year. an IN
crease of S5s.50l
Cities Service Company.
The cities Service Company in its re-
port for May shows gross OF tlll,l12,
as against s7s.9Sl for May Of 1912. Net
earnings were s1O4.1l2. as compared with
s73.5OO. and surplus after charges for
the month amounted TO S7.ol5, as com
pared with s4.22S for May Of last year.
Gross earnings for the twelve months
ended May 81 were sl403.177. as com
pared with Sl,079.556 for the preceding
twelve months Net earnings were ST.
33l92I. as against Sl.007,6iO, and sur
plus for the period amounted TO s564,9l2.
as against s272.S9S for the correspond
ing period OF the previous year Total
surplus 70 date is $s35.03l.
Utilities Improvement Company
The report Of the Utilities Improve
ment Company for the month of May
and the fve months ended May 81, 1913.
is as follows:
Month OF B mos ended
May i3 MAY 81. IS
c,o,s earning. si37 $3.50 ST24 3i9
ESv-,rsrs - . SIS II gO6
~,, .arrinr. ......... .xi34 500 k7l2 0I2
r,,.,derds preterr.1 stock. .. $1,000 S42j. 600