New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-17
PUBLIC UTILITY NOTES
General News and Earnings OF
Various Corporations.

Tho increasing popularity Of public
service securities with conservative IN
vcstors is Illustrated IN the last annual
report OF the Controller Of the Cur
rc0cy 90 Congress by q table Of the in
NcStments of banks throughout the
United States IN public utility bonds
tho last five years. The statistics also
include. Tor purposes OF comparison,
lnves ,mcuts IN railroad and IN munich
pal bonds. A the close o. last year
the banks of the country held public
utility bonds 10 the amount OF S12l,-
500. 600. as compared with $3.50 200, 600
in railroad bonds and S1.24000O.0 600 IN
municipal bonds. Compared with the
figures Of he previous year this rep
reseE-s pm increase Of l9.5 per cent m
publ" utility bonds: while railroad
bonds had decreased 50 per cent and
municipal bonds had decreased p per
cent. The figures for 1913. compared
with those for 1911. show an increase
OF Gil ncr cent in public utility bonds
held. against a decrease OF 40 per cent
IN railroad bonds and an increase Of
only 3.3 per cent IN municipal bonds.
Columbus Railway, Power and Light.
Stockholders o. the Columbus Rail
way Power and Light will hold an ad-
)ourned meeting al Columbus on July
% 20 take action on proposition 10
increase the capital stock OF the COM
pany from Sll.5J0.00 TO Sl5.l40.OOO,
ard 20 EOte on o proposed issue o.
bond @ be known a. first and refund
ny sinking fund mortgage PEI cent
gold bonds 70 an amount not exceeding
$4,000 ,0OC. which viii be secured by
mortgage on the property OF the com
ha 7sauad from
time 20 time TO pay for extensions and
improvements. The capital stock in
crease is designed 70 provide for the
issuance OF S3,145,0OO prior preference
stock 70 retire a similar amount OF first
consolidated mortgage bonds Of the
Columbus Railway Company, which
mature October !, 1889; and for the
issuance Of S450,000 6 per cent series
A preferred stock with whlc INTO retire
a similar amount OF outstanding first
mortgage bonds Of the Columbus Elec-
trio Company, maturing IN November,
1922.
Western Power Company
To provide for funding back divi-
bends on the 100000 per cent pre-
tcrred stock of the Western Power
ConDanv. which will amount 10 Is per
cent on January l, 1915. the directors
Cf the company have drawn up a plan
10 incorporate. under the laws OF New
York. the Western Power Corporation,
10 have $3.50 900 preferred stock. With
par value OF 500 share, and 146,7OO
shares Of common stock without par
value. one hundred and eighteen
shares Of the new preferred stock
which VIII become cumulative January
+. 1915. at the rate Of per cent per
annum, viii be exchanged for each 100
shares Of the present preferred de
posted. The new common will be eX-
changed share for share for the A.
10000 common stock now outstanding.
Pacific Power and Light.
The gross earnings OF the Pacific
Power and Light Company, a subsldi-
arv of the American Power ard Light
Company. for June were Sll3,594, an
increase Of per cent over the same
month last year Income after all
charges has increased by 10 per cent
in the same periods. The balance for
the twelve months ending June 3d.
1914. after all charges and dividends
OF per cent on first and second pre-
ferred stock. amounts 20 Ssl $50, or an
increase of g. per cent over the pre-
1r.rrc