Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1919-11-13

before the bonus money VIII DC a'dE
able.
A decision was rendered Wednes-
day by the Public Utilities Commits
sion authorizing the Central Maine
Power Company to issue not exceed
ing 5,l3S shares Of its own seven per
cent preferred capital stock. Of the
par value Of 800 per share and OF the
aggregate par value Of s543.so0. at
not less than par and accrued inter
est.
The decision states that the COM
pany shall apply the proceeds to re-
inburse its treasury for capital ex-
penditures made between Jan. 81.
1919, and Sept. 80. 1919, for the pur-
chase Of 1876 shares Of the common
capital stock Of the Bath and Bruins
wick Light & Power Company. to
purchase 21s shares Of the common
capital stock Of the Penobscot Bay
Electric Company and the excess to
be used for the development Of the
water power at Skowhegan and for
certain additions being made 10 the
steam plant at Farmingdale.
The decision Of the commissioners
says in part:
1T appears that the petitioner is
nov making extensive development
of the water power at Skowhegan
and is also making Improvements and
development Of its steam plant al
Farmingdale. The estimated amount
of expenditures required for the
Skowhgan development. as a. pres
ent contemplated. is approximately
$4,000 and the amount required fol-
the Farmingdale development is
1885,. 900. 1t also appears to the sat
isfaction of this commission that
both these developments are neces-
sary TO the proper and efficient
operation of the petitioners bust
ness. 1t is proposed. however. to
capitalize at present only a part OF
the total amount which will ulti-
mately be required for these two de-
velopments, in addition to the other
capital expenditures. leaving the bal
ance to be the subject OF future or
ders of this commission"
A decision was rendered Wednes-
day by the Public Utilities Com
mission authorizing the Bath &
Brunswick Light G. Power Company
to issue and sell 496 shares OF its
common stock Of the par value OF
800 per share and of the aggregate
value of $49,600 at par, to reimburse
its treasury for capital expenditures
The decision says in part:
The evidence shows that the ex.
penditures for capital purposes from
Jan. 81, 1919, to Sept. 80. 1919
amounted to $67.550.e2 against which
no securities have been issued. The
total authorized capital stock i:
$4,000 Of which $70o.400 has al
ready been issued, leaving a balance
Of $4,000 of the authorized capita
stock which may be issued under thi.
order. The remainder Of the capita
expenditures incurred from Jan. 81
1919 to Sept. 30. 1919. must therefore
remain uncapitalized for the present
and become subject to further order!
Of this commission"
A decision was rendered Wednes
day by the Public Utilities Commits
sion authorizing the Songo River
Line, Inc, to issue and sell at pal
three of its first mortgage gold bond:
of the par value Of $500 each. bearing
interest at six per cent per annun
| and maturing Feb. l. 1928, the pro
| ceeds Of such sale. to be used for thu
purpose of extension of its wharve
and steamboat landings.
The decision of the commissioner
says in part:
THE total authorized capital stool
of this company is $4,000 Of which
$3.50 is now issued and outstanding
The total bonded Indebtedness au
! thorized is 100000. consisting Of frs
mortgage gold bonds issued Feb.
| 1905 of the par value of $500 each
| bearing interest at six per cent pc
! annum and maturing Feb. l. 1925
| of which $4,000 has been sold.
THE company now desires to issu
| three more of these $500 bonds, a
par, for the purpose of paying TO
extension of the wharfs and steam
boat landings. These extensions ant