Northwestern Public Service Company 
SECURITIES OF MIDDLE WEST UTILITIES SYSTEM - : 
JUNE 30, 1928 
Northwestern Public Service Company 
(Controlled by Middle West Utilities Company.) 
Iricome account for the year ending December 
31, 1927: 
Opetating Revenae —_______ ________$2,412,822.32 
Operating Expenses and Taxes (Including Re- 
tirement expense $120,000) _______________ 1,727,260.03 
Operating Income 685,562.29 
Non Operating Income (Net) 14,425.06 
Gross Income 8 699,987.35 
interest on Funded Debt = 327,514.49 
Miscellaneous Interest, Amortization, etc. ....._ 73,323.51 
$ 400,838.00 
Net Income for Year oon. 299,149.35 
Dividends Paid and Accrued on Preferred 
BION cere ini Hin a aR 145,522.26 
Balance for Common Stock 8 143,627.09 
For the twelve months ended June 30, 1928 
earnings were as follows: 
Gross Operating Revenue —____________$2,546.642.92 
Net Income after taxes, interest and Retirement 
Expense oem. 387.47 6.60 
ORTHWESTERN Public Service Company 
serves 96 communities. All of these are 
served with electricity and 4 with electricity 
and gas. Most of the communities served are lo- 
cated in South Dakota, 12 being located in Ne- 
braska. The territory served by the Company in 
South Dakota embraces the rich James River valley 
in which five of the six largest towns in the state 
are located. The Company's system in South Da- 
kota is entirely interconnected with high tension 
transmission lines totaling 1100 miles, which ex- 
tend from the North Dakota border on the north 
to the Nebraska border on the south. 
The approximate population of the territory 
served is 130,000. The Company has 27,000 
electric customers and 8,000 gas customers. 
Capitalization at June 30, 1928: 
CAPITAL STOCK: 
Common Stock without pat value (35,000 
shares) ooo $2,348,346 
Cumulative 7% Preferred Stock .._______ 2,730,900 
FUNDED DEBT: } 
First 5s of 1957 Series A —_________ 6,670,000 
Underlying 
Huron Light 8 Power Co., First 6's of 1932. 258,000 
Town of Hazel Bonds. ooo ooo 6.000 
COMMON STOCK (without par value) Quang 35 y 000 shares 
(Paid-in Value $2,348,346. All owned by Middle West Utilities Company.) 
7% CUMULATIVE PREFERRED STOCK 
Amount Authorized: $5,000,000. Outstand- 
ing at June 30, 1928: $2,730,900. 
Dividends: At the rate of 79, per annum paid 
quarterly on December lst, March 1st, June lst 
and September 1st. 
Voting Rights: Has no voting rights unless 
dividends are defaulted for 12 months. It then 
has equal voting power with the common. 
FIRST 5s OF 1957, SERIES A 
Title of Issue: First Mortgage Five Percent, 
Thirty-Year Gold Bonds, Series A. 
Date Issued: January 1, 1927. Date Due: 
January 1, 1957. 
Amount Authorized: $25,000,000. Out- 
standing June 30, 1928: $6,670,000. 
Redeemable: As a whole or in part at any time 
apon 60 days published notice, at the following 
prices: (a) On July 1st, 1956 at par and accrued 
interest or (b) on any prior interest date at par 
quemane. $2,730,900 
Preference: Has first preference as to assets and 
dividends. In liquidation entitled to 100 and 
dividends. 
Redeemable: On 30 days notice at $110. 
Transfer Office: Middle West Stock Transfer 
Company, Chicago. 
Registrar: National Bank of the Republic, Chi- 
cago. 
ousanaine $6 670.000 
and accrued interest, plus the following premium: 
On or before January 1, 1937 premium of 5%, 
after January lst, 1937 such premium shall be 
5% reduced by ¥4 of 19, each 12 month period 
between December 31, 1936 and the redemption 
date. 
Security: A first mortgage on all property of 
the Company. 
Maintenance and Renewal Fund: During each 
calendar year not less than 109, of the gross earn- 
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