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been found that the utility in question has not been following the orders of the Commission, which prohibit the collection of such charges. In one instance recently, a utility was required to refund cash deposits to 412 consumers amounting to from $2.50 to $10 each.

The work of the division in settling informal complaints and in adjusting disputes which are constantly arising is of great benefit not only to the general public but also to the utilities.

Considerable work has been done recently by this division in standardizing rules and regulations of the water utilities of the state, and a set of rules has been worked out which in general meets the needs of the average domestic water company. On account of the local or peculiar conditions existing in the case of some utilities, special rules are necessary, but in the main the companies are adopting the standard rules almost without alteration.

Schedules of rates, rules and regulations of fifty utilities were filed with the Commission during the fiscal year and were analyzed, checked and accepted for filing by the hydraulic division.

The following classification shows the nature and number of informal complaints filed during the year: Service Extensions of mains. Rutes. Bills Deposits to guarantee payment of bills. Cash deposits made with the Commission on account of disputed bills. Miscellaneous

165 100 62 47

9 83 13

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Totals.

479

INFORMAL TELEPHONE COMPLAINTS. The Commission has had before it an extremely large number of informal telephone complaints for decision. The rapid growth of the Pacific coast has created a large demand for telephone service and as a result some of the utilities have had difficulty in maintaining a construction program to keep pace with this growth. This condition to a large degree has been responsible for a large number of the complaints received. During the past fiscal year telephone and telegraph division has decided 1138 informal complaints which work, together with the formal work, has required of this division the writing of over 9700 letters. Over 89 per cent of the informal decisions made in these complaints has been favorable to the complainant.

A segregation of these complaints decided during the past year are shown in the table following:

Number of complaints

216

47

Nature of complaints
Service
Rates
Installation of service.
Bills.
Refunds.
Loss..
Competition
Deposits
Right of way franchises.

723

25 106

5 2 11 3

Total.

1,138

CHAPTER IV.

81,663,220 04

SECURITY ISSUES. During the twelve months ended June 30, 1923, the Railroad Commission passed upon applications involving the issue of $151,045,555.91 of stock, bonds, notes and other evidences of indebtedness. It authorized the issue of $144,860,030.91 of securities, as compared with $188,401,250.99 for the year ending June 30, 1923. It denied applications for permission to issue $206,150 of securities and dismissed applications involving the issue of $5,979,375, as compared with $570,253 and $1,113,610 respectively, for the year ending June 30, 1922. The action of the Commission may be shown by the following tabulation:

Year ending

Year ending June 30, 1922

June 30, 1923 Applications granted

$188,401.250 99 $144,860,030 91 Applications denied..

570.253 00

206,150 00 Applications dismissed.

1,113,610 00

5,979,375 00 Totals.

-$190,085,113 99 $151,015,555 91

PERIOD OF SUPERVISION. From July 1, 1922, to June 30, 1923, public utilities filed with the Commission applications for permission to issue $148,059,405.91 of stock, bonds, notes and certificates, as compared with $198,105,063.99 for the preceding twelve months' period.

From March 23, 1912, the effective date of the Public Utilities Act, to June 30, 1923, the Railroad Commission passed upon applications for permission to issue $1,665,878,954.12 of securities, which were disposed of as follows: Applications granted.

$1,503,279,895 08 Applications denied. Applications dismissed.

80,935,839 00 Total...

$1,665,878,954 12 The securities authorized consist of the following: Stock.

$585,339,748 39 Bonds

761,437,219 73 Notes

128,584,087 96 Certificates-equipment trust.

27,918,839 00 Total...

$1,503,279,895 08 The amount of securities which different classes of utilities have been authorized to issue is shown in the following tabulation: Steam railroad companies.

$347,227,214 89 Electric railways..

135,799,557 00 Gas and electric companies.

714,700,658 90 Water companies.

140,214,056 47 Telephone and telegraph companies

79,902,185 82 Warehousemen...

11,429,325 00 Car companies.

160.000 00 Pipe line companies.

59,753,433 00 Carriers by water...

9,015,134 00 Automotive companies

5,078,330 00 Total.

$1,503,279,895 08 APPLICATIONS PENDING JUNE 30, 1923. In the applications pending before the Commission on June 30, 1923, public utilities asked permission to issue $6,840,109.79 of securities. The relation of the securities pending on June 30, 1923, to those pending on June 30, 1922, is as follows: Pending June 30, 1922.

$9,826.259 79 Filed during the year ending June 30, 1923.

148,059,405 91 Subtotal.

$157,885,665 70 Applications acted upon during the year...

151,045,555 91 Applications pending on June 30, 1923.

$6,840,109 79

In amount, about 80 per cent of the applications pending on June 30, 1923, were filed during June of this year.

AUTHORIZATIONS DURING LAST TWO YEARS. During the last two years the various classes of public utilities were authorized to issue stock, bonds, notes and other evidences of indebtedness as follows:

Class
Steam railroads
Electric railways..
Gas and electric companies.
Water companies--
Telephone and telegraph companies.
Warehousemen.
Carriers by water.
Automotive companies.

Totals.

Year ending
June 30, 1922
$4,283,700 00

2,135,175 00
114,517,429 97
13,485,474 02
51,679,220 00

480,700 00

510,197 00 1,009,355 00

Year ending June 30, 1923 $13,959,100 00

175,000 00 95,935,157 91 24,494,163 00

935,495 00 5,714,010 00 1,144,000 00 2,203,105 00

$188,401,250 99

$141,860,030 91

The purposes for which the public utilities were authorized to issue securities and amounts for each purpose are shown by the following table:

Class
Additions and betterments
Refunding --
Collateral
Reorganization.
Miscellaneous

Totals

Year ending
June 30, 1922
$148,925,206 53

19,075,793 06
16,053,786 40
4,330,465 00

16,000 00

Year ending June 30, 1923 $88,677,609 00 39,796.618 00 14,670,000 00 1,715,803 91

$188,401,250 99

$144,860,030 91

Reducing the foregoing figures to a percentage basis, one arrives at the following:

Year ending Year ending

June 30, 1922, June 30, 1923, Item

per cent

per cent Additions and betterments.

79.04

61.22 Refunding

10.

27.47 Collateral.

8.52

10.13 Reorganization..

2.29

1.18 Miscellaneous

.03

Totals.

100.00

100.00

TABULATION OF ISSUE OF SECURITIES. The tables following show the Commission's action during the year and the names of utilities which have been authorized to issue stock, bonds, notes and equipment trust certificates.

Table No. 1 shows the total amount of stock, bonds, notes and certificates of indebtedness applied for, authorized, denied and dismissed during the year ending June 30, 1923, and the amount pending on June 30, 1923, segregated as to classes of utilities.

Table No. 2 sets forth the same information segregated as to purpose of issue and class of utility.

Table No. 3 shows the amount of stock, bonds, notes and certificates of indebtedness of steam railroad companies applied for, authorized, denied and dismissed during the year ending June 30, 1923.

Table No. 4 shows the amount of stock, bonds and certificates of indebtedness of electric railway companies applied for, authorized, denied and dismissed during the year ending June 30, 1923.

Table No. 5 shows the amount of stock and notes of automotive companies applied for, authorized, denied and dismissed during the

Table No. 6 shows the amount of stock, bonds and notes of gas and electric companies applied for, authorized, denied and dismissed during the year ending June 30, 1923, and the amount pending on June 30, 1923.

Table No. 7 shows the amount of stock, bonds and notes of water companies applied for, authorized, denied and dismissed during the year ending June 30, 1923, and the amount pending on June 30, 1923.

Table No. 8 shows the amount of stock, bonds and notes of telephone and telegraph companies applied for, authorized, denied and dismissed during the year ending June 30, 1923, and pending on June 30, 1923.

Table No. 9 shows the amount of stock, bonds and notes of carriers by water applied for, authorized, denied and dismissed during the year ending June 30, 1923.

Table No. 10 shows the amount of stock, bonds and notes of warehousemen applied for, authorized, denied and dismissed during the year ending June 30, 1923.

TABLE NO. 1. SHOWING THE AMOUNT OF STOCK, BONDS, NOTES AND OTHER EVIDENCES OF INDEBTEDNESS APPLIED

FOR, AUTHOR ZED, DEN ED AND D. SM SSED BY THE RALROAD COMM SS ON OF THE STATE OF CAL FORN A FROM JULY 1, 1922, TO JUNE 30, 1923, AND PENDING BEFORE THE RAILROAD COMM.S. SON ON JUNE 30, 1923.

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TABLE NO. 2.

SHOWING AMOUNT AND PU'RPOSE OF STOCK. BONDS, NOTES AND OTHER CERTIFICATES OF INDEBT

EDNESS APPL'ED FOR, AUTHOR ZED, DEN.ED, DSM SSED AND PENDING BY AND BEFORE THE RAILROAD COMM.SS.ON OF THE STATE OF CALIFORNIA FROM JULY 1, 1922, TO JUNE 30, 1923.

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