The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1927-08-27
MERGED power
FIRM EARNINGS
REPORT MADE
Net Income Holding Up De-
spite Rate Cut, Says
Clarke,

Net income of the Indianapolis
Power and Light Corporation, New
Jersey holding corporation of the
Indianapolis Power and Light Com
pany, for twelve months ending
June 3d. was $1,410,841, according to
Statement Of earnings and ex-
penses issued today.
The statement contains fore
word by Harley L. Clarke, Chicago
utility magnate, who organized the
indianapolis Power and Light Com
pany by merging the Merchants
Heat and Light and the indianapolis
Light and Heat companies. Mer-
ger was completed and approved by
the public service commission Feb. /.
Refers to City Business
The statement, issued in PAM
phlet form, also gives figures for
the same period from several other
Clarke utilities.
Regarding the Indianapolis prop
erty Clarke's statement makes the
1OllOWlng reference.
"In the annual report for the
year ending Dec. 81, 1925, reference
was made to certain projects, the
consummation of which was expect
ed to strengthen the position of your
companies and increase earnings
and operating efficiency.
Included in these projects was a
plan for the simplification of the
corporate and financial structure Of
the Interstate Power Company
group, and the unification of the
properties of the Indianapolis Light
and Heat Company and the Mer-
chants Heat and Light Company.
Results Are Realized
The successor to the later COM
panies, Indianapolis Power and
Light Company, now furnishes,
without competition, all the re-
quirements for electric light and
power in the city of Indianapolis
and the county of Marion, except
for street railways and interurban
service. The earnings statements
submitted herewith for the twelve
months ended June 80, 1927, reflect
these changes and show that the
results which we're anticipated are
being realized"
Since the Indianapolis Power and
Light Company has been in exist
ence but five months on June 80,
the figures for the twelve-m month
period are combinations of the last
seven months of the Indianapolis
Light and Heat Company and the
five months of the merged company.
The net income figure of $1,410,-
BAL is before provision for renewals
and requirements and for Federal
Income tax" 1t is slightly less than
the net earnings Of the Indianapolis
Light and Heat Company for the
twelve months of 1925 and $780,
578 less than the combined earnings
OF the Merchants and indianapolis
companies for that period.
Rates Are Lowered
NSI cdlIlIlBS OF UIlc INDIANAPOLIS
Light and Heat Company for 1926.
according to the annual report on
file with the public service com
mission, was $1,532,234, which is
$121 1893 more than the INDIANAPOLIS
Power and Light Corporation figure
for the last twelve months. Mex
chants Heat and Ligh Company net
earnings for 1925 were S165, 1856.
making combined total for the
two companies, before the merger.
of $1,697,419, or $286,578 more than
the figures in the statement for the
last twelve months of the Indian
apolis Power and Light Corpora
ton.
Decrease in net earnings is at
tributed, in part, to lowered rates
put in force at the time of the
merger. The company expects to
overcome this by the savings and
added efficiency caused by merging
and avoiding duplication.