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394

Capital Stock Expense

Total Assets and Other Debits

663,525

Liabilities and Other Credits

Capital Stock of Standard Gas:

Preferred
Common Stock

87,351
21,626

108,977

124,649

Minority Interest in Capital Stocks and Surplus

of Subsidiaries Long-term Debt:

Standard Gas
Subsidiaries -

24,335
190,559

214,894

Current Liabilities

Notes and accounts payable -
Long-term debt payable within one year
Accrued taxes
Other

9,792
3,012
21,454
4,467

38,725

3029 72 0 - 55 - 62

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reacquired -Earned Surplus since December 31, 1937

3 34,338

34,844

Total Liabilities and Other Credits

663,525

Note:

The accounts of Oklahoma Gas and Electric Company and of Market Street Railway Company (which is in the Process of liquidation) are not included in consolidation as Standard Gas holds only 47.92% and 39.67%, respectively, of voting control. The accounts of Pittsbur Railways Company (in process of reorganization since May 10, 1938 under Section 77B and Chapter X of the Bankruptcy Act) and subsidiaries thereof and other street railway subsidiaries of Philadelphia Company are likewise not included in consolidation.

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Schedule of Outstanding Securities of Subsidiaries of Standard Gas and Electric Company (excluding Market Street Railway Company and street railway companies comprising the

Common Stocks
Held by Held by

Held by

Held by
Total
System
Public

Total
System

Public
Subsidiaries Consolidated
Louisville Gas & Electric Co. (Del.)

$ 23,069,665 $7, 232, 935 $ 15,836,730
Louisville Gas & Electric Co. (Ky.) -1 $28,976,000

$28,976,000 $21,519,800 $21,519,800 17,646, 462 17,211,007

435,455 Ohio Valley Transmission Corp.

1,000

1,000
Louisville Transmission Corp. (Ky.) 2,896,000

10,000

10,000 Louisville Transmission Corp. (Ind.)

10,000

10,000 Philadelphia Company

39,959,600 37,633,684 36,429,728 1,203, 956
Duquesne Light Co.

27,500,000 56,813, 120 56,813, 120
Allegheny County Steam Heating Co.-

4,800,000 4,800,000
Pittsburgh and West Virginia Gas Co.

8,600,000 8,600,000
Equitable Gas Co. ---

3,300,000 3,300,000
The Consolidated Gas Co. of the City
of Pittsburgh ---

2,000,000 $270,200 1,729,800 4,000,000 4,000,000
Philadelphia Oil Co. -----

2,001,000 2,001,000
Finleyville Oil and Gas Co.

500

500
Kentucky West Virginia Gas Co. --

1,304,715 1,304, 715
Cheswick and Harmar Railroad Co.--

50,000
Equitable Auto Co. ----

200,000 200,000
Equitable Real Estate Co. ------- 1,007, 594

1,000,000 1,000,000
Equitable Sales Co.

465,300 Public Utility Engineering & Service

250,000 250,000
Wisconsin Public Service Co.

13,200,000 12,000,000 12,000,000
Menominee and Marinette Light &
Traction Co.-.-..
1,524,000 $1,524,000

1,150,000 1,150,000
Horseshoe Lake Oil & Gas Co.

10,000
Total Subsidiaries Consolidated 192,083, 195 1,524,000 190,559, 195 112,524, 400 8,615,200 103,909,200 174,315,446 156,839, 305 17,476,141
Oklahoma Gas & Electric Co.

13,500,000 17,800,000 15,000,000 2,800,000 Total

235,583, 195 1,524,000 234, 059, 195 126, 024, 400 8,615,200 117, 409,200 192, 115, 446 171,839,305 20,276,141

APPENDIX D

ir

Pittsburgh Railways Company System) As at December 31, 1947
Long-term Debt ()
Preferred Stocks

Held by
Held by

Total
System
Public

2,896,000

51,091,000 51,091,000 39,959,600

77,338, 601 77,338, 601 27,500,000

8, 345,000 8, 345,000

50,000

1,007,594.

465, 300

29,250,000 29,250,000 13,200,000

10,000

43,500,000 43,500,000 13,500,000

See notes on following page.

APPENDIX D--Continued

(a)Does not include system-held-demand notes and non-current accounts payable of following companies:

Equitable Gas Company
The Consolidated Gas Co. of the City of Pittsburgh
Finleyville Oil and Gas Company
Equitable Real Estate Company
Equitable Sales Company
Horseshoe Lake Oil & Gas Company

$ 42,124,078
1,666,237

369,413
635,000
683,313

2,510

Total

45,480,551

Note:

The following securities (other than short-term bank loans) were issued during 1948:

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The following securities (other than short-term bank loans and retirements through operation of sinking funds) were retired during 1948:*

Held by Public

Held by System Companies

$13,477,000

Philadelphia Company

Long-term debt
Finleyville Oil and Gas Company

Common Stock
Kentucky West Virginia Gas Company

Preferred Stock

$ 500

2,937,500

*System-owned-demand notes and non-current accounts payable of Equitable Gas Company in the amount of $ 42,124,078 (as of December 31, 1947) and of Finleyville Oil and Gas Company in the amount of $369,413 (as of December 31, 1947) were retired during 1948.

The following digest of decisions presents a consolidated summary of the case headnotes arranged alphabetically according to topic headings. The digest is divided into three parts*: Part I, containing decisions under the Securities Exchange Act of 1934; Part II, the Public Utility Holding Company Act of 1935, and Part III, the Investment Company Act of 1940.

The case headnotes have not been carried over verbatim into this digest. To facilitate the grouping together of decisions standing for a similar proposition under a single digest heading, it has been necessary in some cases to delete from the headnotes all matter not pertinent to the general proposition for which the headnote stood, i. e., the names of companies, the principal amounts of security issues, etc. To the same end, certain case headnotes have been entirely redrafted for the digest so as to conform to a uniform statement of the general proposition. In a few instances, case headnotes, which were not considered important for the purposes of this digest, have been omitted from the digest altogether.

. During the period covered by this volume there were no opinions containing case headnotes under the Securities Act of 1933, the Trust Indenture Act of 1939, or the Investment Advisers Act of 1940.

28 S. E. C.

967

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