Dividends declared: Corporate net incoma Preferred dividend requiremente Balance of corporata qet Inorina Consolidated net Income Preferred dividend requirements 1,4.8679 Balance of consolidated net income 726, 191 | 17,448.748 14, 800, 767 4. 726.218 (936, 500) (6.220, 443) 0,274, 141 6, 142, 546 8,483, 282 Preferred stock Common stock: In cash ....... In common stock.. Preferred dividend arrearages at Dec. 31. Market range of preferred and common stock of 1,356, 820 1,426,407 1,430,879 5,609, 962 7,683, 737 1,585,656 1,664, 352 1,792, 060 1,930, 090 2,225, 326 8, 181,886 8, 671, 511 8,445, 030 2,418, 455 2,916, 522 1,501, 002 stocks, for the years 1925 to 1941, inclusion 11 S. E. C. 梅湯 APPENDIX K Electric Power & Light Corporation-Statement showing corporate and consolidated net income, preferred dividend requirements, balance of net • Preferred dividend requirements for years 1932 to 1941, inclusive, are based on number of shares of preferred stock outstanding at end of year. [No. 1624] IN THE MATTER OF POTOMAC ELECTRIC POWER COMPANY File No. 70-587. Promulgated August 26, 1942 (Public Utility Holding Company Act of 1935-Section 6(b)) EXEMPTION OF SECURITY ISSUE OF SUBSIDIARY OF REGISTERED HOLDING COMPANY. Application filed by a public utility subsidiary of a registered holding company pursuant to Section 6 (b) of the Act, for exemption from the provisions of Section 6 (a) of the Act of the issuance and sale at competitive bidding of first mortgage bonds, the proceeds to be used in expanding facilities of applicant and for general corporate purposes, granted, the Commission finding that the bonds are to be issued for the purpose of financing the business of the applicant and have been expressly authorized by the state commission of the state in which such subsidiary company is organized and doing business. APPEARANCES: Frederick Zazove, of the Public Utilities Division of the Commis sion. Charles S. Hamilton, Jr., for Potomac Electric Power Company. FINDINGS AND OPINION OF THE COMMISSION NATURE OF THE PROCEEDING On August 5, 1942, Potomac Electric Power Company (referred to as "PEPCO" or as the applicant), a public utility company and a direct subsidiary of Washington Railway and Electric Company and an indirect subsidiary of The North American Company, both registered holding companies, filed an application with this Commission pursuant to Section 6 (b) of the Public Utility Holding Company Act of 1935, seeking exemption from the provisions of Section 6 (a) of the Act of the issuance and sale of $5,000,000 principal amount of first mortgage bonds, 34% series due 1977, due August 1, 1977. Thereafter, the application was amended in certain respects on August 24, 1942. The proposed issuance and sale of the bonds was approved by the Public Utilities Commission of the District of Columbia on July 9, 11 S. E. C.-35-3759 |