The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-01-28
Giants of Industry
BY VINCENT LYONS
Times Financial Editor

The Standard Oil Co. of New
Jersey, North American Co., Co.
lumbia Gas and Electric Corp, and
the Cities Service Co., the four COM
panieS whose natural gas activities
may be subjected to a Senatorial
probe as a result of a preliminary
investigation now being conducted
by II Midwestern cities are among
the largest Of the country's corpo-
rate giants.
The Columbia Gas e. Electric
Corps basic and dominating in
terest is in the production and dis
tribution of gas, principally natural
gas, in which field it ranks among
the leading units in the industry
Total gross revenues for 1888
aggregated STA, 453,OOO, of which ap-
proximately IS per cent was pro-
cured from gas.
Seven Operating Divisions
Properties of the system are 10
Gated in the East and Middle West
and are grouped into seven major
operating divisions, six Of which
are conferred about these cities: Gin
cinnati, Dayton and Columbus, all
in Ohio; Charleston, w. Va; Pitts
burgh, Pa, and Binghampton, N Y,
while the seventh embraces the pipe
line system connecting the gas fields
in Kentucky and West Virginia with
the Atlantic seaboard states.
Producing and gas reserve fields
owned at the close of 1888 amounted
to approximately 4,256,O00 acres in
West Virginia, Kentucky, Ohio and
Pennsylvania. In addition, the COM
pany has large potential sources
through its interest in pipe line
tapping the Panhandle areas OF
Texas and Oklahoma.
At the close of 1888 the United
Corp, reputedly a Morgan COM
pany, owned 2,424,356 shares, or 81
per cent, of common stock of the
Columbia Gas x Electric Corp.
Shares of the company are listed on
the New York Stock Exchange.
Serves Wisconsin Cities
The North American Co., one of
the largest public utility organiza-
lions in the country, in addition to
providing electric power functions,
serves gas in Racine and Appleton.
Wis, and various other communities
in the Missouri Illinois-Iowa group.
The company, through common
stock holdings, has a 10 per cent in
terest in Detroit Edison, which oper-
ateS in Detroit and adjacent terri
tory, and 70 per cent interest in
North American Light & Power,
which serves Illinois, soouth central
Iowa, northern Missouri and north
eastern and central Kansas.
AS of June 80, 1884, the consoli-
dated balance sheet of the company
showed total assets of 1885, 022, 006.
Property and plant was valued on
that date was valued at $672, 643,-
427 including a so per cent invest
ment in the Capital Transit Co.
Total funded debt of the company
and it's subsidiaries aggregated
$311 ,791 900. Gross earnings for the
year ended June 30, 1884, aggregated
$102, 528,972, while net income came
to $10,713,049.
Gas Business Increasing
Although gas and transportation
operations Of North American Co.
subsidiaries are relatively small
compared with the electric business,
they are increasing. In the second
quarter of last year gas output eX
panded 1923 per cent over the cor
responding period of the year be-
fore.
Shares of the company are listed
on the New York Stock Exchange.
The Standard Oil Co. of New Jer-
sey, although for some time the
leading domestic petroleum enter
prise, has, in recent years, been