The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1925-02-26

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3. +. ..... Some
Questions Answered
about Pacific Posuer g Light Co.
I'LL 20 Preferred Stock d
a What is Preferred Stock? .
A share Of Preferred Stock represents mart
ownership in the Conpany's business. It has
certain rights over other classes of stock. For
instance, its dividends must be paid before
any dividend is paid on the common stock Ii
also has preference over the common stock in
case of liquidation.
What does Cumulative" mean2
Cumulative refers to the dividends and means
that all dividends due on the stock from the
time it is issued must be paid before any divi-
dends are paid on the common stock Ii.
The cumulative feature is an important safe
guard for Preferred Stockholders.
What are Dividends?
Money paid to Stockholders out of Company's
earnings is called Dividends
<hc DIVlueOQS Guaranteed.
No. No Company honestly conducted can guar
antee its dividends because any such so-called
guarantee" must rest upon the earning power
of the Company itself, and who can guarantee
that? But this Company does guarantee to nav
quarterly dividends at the present rate on its
Preferred Stock before paving any dividends
on its common stock
VIII the Preferred Stock ever pay
bigger dividends?
No. The dividend rate is always fixed in high
grade investments of this kind because of the
safeguards around the issue such as being
Preferred, Cumulative, etc.
If, for some unforeseen reason, a dividend
is not paid, what happens?
The dividends on this Stock are CUMULA-
TIVE. This means that if one or more dividends
are not paid when due, they must later be paid
in full before any dividends on the common
stock are paid
Many stocks are NOT cumulative but this
Company's Preferred Stock has that special
safeguard.
When are dividends paid on this stock?
Dividend checks are mailed to stockholders
every three months: February i, May /,
August and November /.
How do l know that the Company will
treat me fairly as a Stakeholder?
Your knowledge of the standing and character
Of the Company should dispel any doubts on
this score. The Company wants. you as part
ner primarily to increase the public friendship
and goodwill which it enjoys What could st
gam by securing large list of home shorehold-
ers and then not respecting their rights?
What are you going to do with the money
from the sale of stock?
Large sums of money are required each year
for the purchase of equipment to meet the
growing demand for electricity. This requires
the permanent investment of large sums Of
money, which must come from the sale Of
securities.
Where Can Sell My Stock in case
need the money?
ANY representative of the Company will be
glad to put you in touch with the proper Com
pany official, who will assist you in selling your
stock. The Company maintains resale depart
ment for the benefit of local stockholders who
may wish to sell their shares.
INVEST YOUR SAVINGS
in PREFERRED STOCK of
Pacific Power & Light Co.
Dividends have been paid
without a break for
over ID years
CUT AND MAIL THIS COUPON
Pacific Power s. Lighf Investment ep, Portland Ore
! MARK in q meeting your requirements
j Q Please send me free copy of booklet telling more