The Hood River glacier. (Hood River, Or.) 1889-1933, 1917-12-06
P.P.&L. CO. OFFERS.
STOCK TO PATRONS

A great many Of the customers of
the Pacific Power & Light Co. are at
present holding stock of that concern
and this fact has lead the officials Of
the comany to feel that it should allow
more of its customers to acquire owner
ship in the company which will develop
closer relationship between the util-
ity company and the consumers of it's
commodities. The company has an
nounced a scheme of disposing of its
preferred stock to its cusomers either
for cash or on time paymens. This
plan is more or less of variation from
the usual method of public financing
and it has created much interest in the
northwest. In this way, the company
will obtain greater circulation of its
stock among its customers in Oregon,
Washington and Idaho and 30 it is Of
fering to it's customers seven per cent
cumulative preferred stock of the par
value of 500 share.
Customers of the Pacific Power &
Light Co. have been buying its stock,
on the open market for several years
until at the present time the par value
of the stock held by residents of the
territory served by the company is
over 100000. The holdings Of the
Pacific Power & Light Co. are high
class and rank as such in the financial
world, and the company's properties
are looked upon as being well equipped.
This concern now has about 81, 600 Gus
toners in several districts in the three
northwest states, the districts them
selves having a population of about
10000.
The Pacific Power G. Light Co. num-
bers Astoria, The Dalles, Hood River,
Seaside, Pendleton, White Salmon.
Vancouver, Goldendale, Dayton, Waits.
burg, Pasco, Pomeroy, Prosser, Ken
newick, Lewiston, North Yakima. Top
penish, Sunnyside and many other
communities among the places it
serves.
Lewis A. Macarthur, general man
ager of the Pacific Power & Light Co.,
has given this paper the following
statement about its customers securing
preferred stock under the two plans:
''The utility companies that have the
good will of their customers are the
concerns that will prosper, and it has
been very gratifying to the officials of
our company to notice the ever In.
creasing amount of our stock that is
being purchased by our customers on
the open market. This knowledge has
convinced US that it would be good
thing for us and our customers to offer
our stock directly to them under two
plans. the first being on cash basis
and in which case the purchaser may
obtain as many shares of stock as may
be desirable, and the other plan is to
sell up to rs shares to buyer on the
installment arrangement of $40 down
and $40 month for each share pur-
chased. Our customers at this time
hold over $400, 600 worth of our stock.
'Our interests and those of our Gus
toners. we believe, are closely related
in the development of the communities
we serve and the creation of good will
between us and our customers will en-
hance the chances of growth of the
territories in which we do business.
''It is our desire that as much as
possible of our earnings be distributed
in our home territories and the in
creasing of the number of customers
who possess our stock will mean that
with the dividend payments. the wages,
and taxes we pay besides the large
local purchases Of supplies and materi-s
ais will scatter more money through
the communities we serve"
The company states that it will re-
ceive subscriptions for stock at any of
its offices in Oregon and Washington
or at its Portland Office.