The San Francisco call., 1913-11-27
s. c. EDISON STOCK
TWICE SUBSCRIBED
Proceeds of New Issue Will
Retire Floating Debt and
Extend System

1t Is expected that a substantial
amount OF the $2,000,000 OF new COM
mon stock offered to stock holders of
Southern California Edison company
at S5. as previously announced In Tne
Call. will be taken by share holders.
New York bankers, and 1T Is stated
that the subscriptions to the under
writing were more than twice the
amount Of the issue;
company not less than $3.50 share.
Is issued for the purpose Of providing
for payment OF floating debt OF
100000, accounts acc payable to the
900 Of debentures and to pay 25 per
cent Of the cost of additions and i'm
provements made to its plants under
the terms of its mortgage. With the
MIA Edison will have $4.000,0oo pre-
ferred stock. $10.400.000 common
stock. $lO,717,oo OF its own bonds
and $s,sosoo0 Of underlying bonds;
AS preferred and common stock
share equally in dividends the In
crease Of the dividend on the common
made at the next declaration, also ad-
same dividend basis. Scrip, due in the
fall OF 1914, amounting to $1.7S a
viii viii be s"i issued sued to equalize the pay
mentsin preferred and common stocks
under the new rate.
ALL EXCHANGES CLOSED
Because OF the Thanksgiving holi-
day, all stock and commodity ex-
changes and markets throughout the
United States are closed. Therefore
there will be little financial news to
be recorded today.
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SANTA FE EQUIPMENT
The Santa Fe system has placed orr
ders for lao steel passenger cars, cost
Ing $2,450, 900. and s5 Pacific locomo-
tives. costing 100000 for. delivery
TURNER OIL DIVIDEND
the Shell Royal Dutch syndicate holds
an option, has declared an initial divi-
dend of 20 cents q share on its $500. 900
Isl par) stock.
PACIFIC POWER AND LIGHT
Pacific Power and Light for IL
months ended October 81, 1913, had
gross earning Of $1,26s. .089. increase OF
$30,042 or per cent. Operating ex-
penses were higher by $32, sos, leaving
net earnings of $608,398. q decrease OF
$27,6io, or 10 per cent, leaving incoms
after charges OF $27S.213. q decrease of
$30.O73, or 10 per cent. For October .
good gain was shown In gross earn
fngs and with the completion Of addi-
tions and extensions, Tor which the
new capital obligations were issued,
Pacific Power and Light will be show
Ing large gains in its net and surplus
earnings. The company has $4,000. 900
per cent preferred stock. 1880, 900
per cent second preferred stock.
IS, 100000 common stock and $6,076,000
5 per cent first and refunding bonds.
y
NORTHERN CALIFORNIA POWER
H. n. Noble, president Of the North
ern California Power Company. Con-
solidated. IN his annual report says,
Our gross earnings for the year
1918 were @e14,238.5z. against $685.
933.32 for last year, or an increase OF
e1o7,806.20. Our operating expenses
were 36,76o.77 less than last year.
Our operating surplus. including profit
from store and ranch accounts,
AMOUNTS to $213,237.15. This includes
the sum OF t67,714.95 carried to our
depreciation fund.
I'VE have had . large increase in
fact that our series a and series B de-
bentures. issued to complete the pur-
chase of the Sacramento Valley
Power company and to fund our float
ing debt contracted In the completion
OF the Coleman plant, have been
drawing interest Tor the full year. -