Chapter II. Growth of assets and liabilities-Continued. Section 2. Analysis of plants and investments-Continued. Equity in surplus of subsidiary companies acquired June 30, Income statements of companies acquired June 30, 1924– Increase in plant and investment account from December 31, Disposal of securities acquired from Cities Service Co. in No- Explanation of items comprising "total charges Surplus acquired_____ Earnings receivable reserve and surplus reserve. Effect of the disposal of securities on the ledger value of the Disposal of the individual companies acquired under the agree- Adrian Street Railway. Athens Railway & Electric Co. and Athens Gas Light & Fuel Co Atlas Chemical Co--- Bartlesville Gas & Electric Co. Brush Electric Co---- City Light & Water Co__- Electric Bond Deposit Co-- Meridian and Hattiesburg properties__. Toledo Beach Co--- Toledo, Ottawa Beach & Northern Railway Co Other changes in the original acquisition of securities. Description of the common stocks transferred to Gas Service Co- Light Co. in stocks transferred to Gas Service Co_____ Securities acquired from Cities Service Securities Co-- Buchanan County Power Transmission Co-. Bluff City Electric Light & Power Co‒‒‒‒‒ Electric Utilities Co-‒‒‒ Lake Shore Power Co___. Lawrence County Water, Light & Cold Storage Co.... Benton County Utilities Co.. Taney Light & Water Co---- Sale of properties acquired June 3, 1927__ Additional securities acquired and disposed of during the years 1924 to 1930, inclusive.. Bartlesville Gas & Electric Co---- Capital Gas & Electric Co‒‒‒‒‒ Carolina Engineering & Construction Co-- Citizens Gas Fuel Co---. Cumberland & Westernport Electric Railway Co-- Danbury & Bethel Gas & Electric Light Co--- Deerfield Electric Service Co--- Durham Public Service Co------ Empire District Electric Co----- Fremont Gas Co----- Kansas City Gas Co--- The Knoxville Gas Co‒‒‒‒ Lake Shore Power Co- Lawrence County Water, Light & Cold Storage Co__ Lenawee County Light & Power Co---- Chapter II. Growth of assets and liabilities-Continued. Section 2. Analysis of plants and investments-Continued. The Public Service Co. of Colorado____. Page 98 98 Formation of East Tennessee Light & Power Co., formerly called Tennessee Central Service Co- 106 Acquisition of capital stock of Tennessee Eastern Electric Co-- 107 Acquisition of Columbia Gas & Electric Corporation stock‒‒‒‒‒ 116 acquired and disposed of-- Aurora Electric & Cold Storage Co. bonds--- 118 121 121 Empire District Electric Co. bonds.. 121 Fremont Gas Co. bonds_. 123 Knoxville Gas Co. bonds_. 123 Lawrence County Water, Light & Cold Storage Co. bonds. Dividends applicable to the period prior to acquisition of sub- 127 Summary of analysis of plant and investment account as at 128 Section 3. Increase of open-account indebtedness from or to subsidiaries___ 131 Section 4. Analysis of surplus acquired from subsidiary companies_. 136 136 136 138 139 140 Surplus acquired written off on account of common stock dis- 142 Equity in surplus of subsidiary companies acquired subsequently 143 Deficit acquired written off on account of reorganization____ Deduction of dividends received in excess of current earnings__ Chapter II. Growth of assets and liabilities-Continued. Page Composition of earnings receivable and surplus reserves_. reserve___. 167 171 Method used in accounting for reserves.... 175 Cash dividends received from subsidiaries under the indenture 180 Method of eliminating the difference between the balance of Other adjustments affecting the difference between the balance Section 1. Growth of capital stock and funded debt of Cities Service Power & Light Co---- 196 Classification of securities as of December 31, 1930_. Section 2. Securities issued by Cities Service Power & Light Co. from November 7, 1924, to December 31, 1927, inclusive___ Initial issue of securities-- 210 210 Twenty-year 6-percent secured sinking fund gold bonds, series A. 210 212 Refinancing in the year 1927---- 212 5%-percent gold debentures, due November 1, 1952. 216-b 218 Proceeds from refinancing and effective rate of interest thereof. 219 221 221 Section 3. Securities issued by Cities Service Power & Light Co. from January 1, 1928, to December 31, 1930– 5%-percent gold debentures issued November 1, 1929, due Novem- 232 Net proceeds realized and effective rate of interest on 51⁄2-percent 234 52-percent debentures, due 1952, reacquired.... 234 Preferred stock issued and reacquired, years 1928 to 1930, 235 Section 4. Issues of capital stock by Cities Service Power & Light Page Chapter IV. Income, surplus, and return on investment-- Section 1. Comparative statements of income and surplus---- Comparative statements of income and surplus, 1924 to 1930, 244 244 -- 244 244 Gross revenue from 1924 to 1930, inclusive----. Operating expenses of holding company 247 248 249 Net revenue for the years 1924–30__. Analysis of surplus----- Rate of dividends declared on capital stock_-_. Section 2. Revision of net income and surplus_ Revised balance sheets for the years ended December 31, 1929 262 Summary of appreciation included in assets as of December 31, 266 Section 3. Statement of corporate income and surplus--- Introduction_____ Corporate net income and surplus, 1924 to 1930, inclusive_---- Corporate balance sheet as of December 31, 1930_ Comparative corporate balance sheets of November 7, 1924, and 268 263 271 273 274 277 Rate of return on common-stock equity, unrevised and revised__ 285 285 Rates of return on investment, after the elimination of the ap- 287 Rates of return on common-stock equity after the elimination of 289 Chapter V. Consolidated balance sheet and income statement of Cities Service Power & Light Co. and subsidiaries for the year ended December 31, 1930__ 292 Adjustment of the holding company's balance sheet before consolidation____ 292 Consolidated balance sheets as of December 31, 1929 and 1930- 295 297 Surplus of subsidiaries acquired__ 300 Revised consolidated balance sheet as of December 31, 1930, 302 Summary of appreciation included in the revised consolidated 304 Consolidated income statement for the year ended December 304 Revised consolidated income statement for the year ended De- 306 Rates of return on investment on consolidated basis for the year 308 LIST OF TEXT TABLES 1. Number of shares and the par or stated value of the common capital stock outstanding of subsidiary companies, the number of shares, the par or stated value and the percentage of such stock owned by Cities Service Power & Light Co., the principal amount of bonds of subsidiary or affiliated companies, the number of shares of stock of nonaffiliated companies owned and the ledger value of investments on the books of Cities Service Power & Light Co. as at December 31, 1930-- 2. Number of kilowatt-hours sold, kilowatt-installed capacity, number of customers and population served by subsidiaries of the Cities Service Power & Light Co. for the year ended December 31, 19303. Quantity of natural and manufactured gas sold in M cubic feet, number of customers, population served, and miles of gas mains operated by subsidiaries of Cities Service Power & Light Co. for the year ended December 31, 1930.. 4. Statement of securities acquired in November 1924 by Cities Service 5. Statement of ledger values of securities transferred by Cities Serv- 7. Statement showing additional bonds and notes acquired and bonds 8. Summary of analysis of plant and investment account of Cities Service Power & Light Co. as at December 31, 1930, showing the amount of appreciated values included therein____ 9. Summary of face or stated value of securities issued and face or stated value of securities reacquired, with amount of premium or discount, commissions, and expense for the periods from June 30, 1924, to December 31, 1930-- 10. Summary of securities issued and securities reacquired with classifications of consideration received and given for the period June 30, 1924, to December 31, 1930____. 11. Classification of the consideration received for securities issued, and that given for securities reacquired, with the discount or premium, commission, and expense allocated to each class for the period June 30, 1924, to December 31, 1930__ 12. Condensed statement of income and surplus of Cities Service Power & Light Co. for the last 6 months of 1924 and for each of the years 1925 to 1930, inclusive (company figures) __ 13. Statement of examiner's revised net income and surplus of Cities 14. Examiner's revised condensed balance sheets of Cities Service Power Page. 3 6 7 25 30 88 120 129 199 202 203 246 257 263 269 275 278 |