Jational Electric Power Company 
National Public Service Corporation 
Virginia Public Service Company 
SECURITIES OF MIDDLE WEST UTILITIES SYSTEM 
JUNE 30, 192§ 
Virginia Public Service Company 
(Controlled by National Public Service Corporation.) 
- yIRGINIA Public Service Company was 
V formed in 1926 by merger of a number of 
smaller companies. The Company owns all 
he outstanding securities of Charlottesville and 
Albermarle Railway Company, Virginia Northern 
[ce Corporation, Middle Virginia Power Com- 
pany, Citizens Appliance Corporation, Newport 
News Distilled Ice Company, Citizens Rapid 
Transit Corporation, Hampton Towing Corpora- 
‘ion, and Railway Home Corporation. 
Electric light and power service is supplied by 
the Company to Alexandria, Rosemont, Potomac 
and other cities in Alexandria and Fairfax Coun- 
ties, Va., to the Piedmont District, to cities and 
towns from Clifton Forge to Lexington, and from 
Charlottesville to Hinton, W. Va. It also pro- 
vides electric light and power and ice service to 
Warrenton, Orange and Culpepper, Va., operates 
a street railway in Charlottesville, and provides 
electric light and power, railway, gas and ice ser- 
vice in Newport News, Phoebus, Hampton, old 
Point and surrounding territory. A total of 188 
communities is served with one or more types of 
service, and the total estimated population is 
263,000. 
Capitalization at June 30, 1928: 
CAPITAL STOCK: 
Common Stock without par value 
(500,000 shares) ee .872,982,327.68 
7% Preferred Stock eee 4,160,500.00 
6 6% Preferred Stock Co .. 128.700.00 
COMMON STOCK (no par value) 
FUNDED DEBT: 
{st and Ref. 5%s of 1946 ooee-$12,392,000 
Sinking Fund Debentures of 1946. me 4,846,500 
Underlying: 
Southside Va. Pwr. Co. 
1st 5s of 1956, Series A ooo 2,000,000 
1st 5s of 1929, Series B..___..........._ 1,400,000 
Newport News ® Hampton Rwy., Gas 8 
Elec. Co., 1st and ref. 5s of 1944... 3,752,500 
Citizens Rwy., Lt. 8 Pwr., lst 5s of 1940 52,000 
Newport News © Old Point Rwy. # Elec. 
Co., lst 5s of 1938 900,000 
Gen. Mtge. 5s of 1941 om 30,000 
Hampton Roads Traction Co., 1st 414s of 
193] ort mmm 46,000 
Income Account for year ended December 31, 
1927: 
Operating Revenues oer 8 5,264,906.35 
Operating EXpenses ooo 3,094,047.05 
Net Earnings from Operations —.......$2,170,859.30 
Non-Operating Revenues eee. 29,406.52 
$2,200,265.82 
[nterest Deductions ——eeeoeomeeeemeeeee. 1,385.592.09 
$ 814, 73 
Other Deductions eee 370.687.50 
Surplus Net Earnings—Before Federal Topo 
TAXES oom emmeememmmerrnmmmmeeeeeenne 443,986.23 
For the twelve months ended June 30, 1928, 
consolidated earnings were as follows: 
Gross Operating Revenues eee $5,844,591.60 
Net Income—After charges for all Taxes, In- ‘ 
terest, and provision for Retirements... 643,056.22 
Outstandi 
oustaname  §()() 000 shares 
(Paid.in Value $2.982,327.68. All owned by National Public Service Corporation.) 
79% SERIES CUMULATIVE PREFERRED STOCK 
ousanaine. © 4 160.500 
Amount Authorized: All Series, $15,000,000. 
7%, Series, $4,500,000. Outstanding June 30, 
1928: $4,160,500. 
Dividends: At the rate of 7% per annum, paid 
quarterly January, April, July and October 1 to 
stock of record on the 17th of each preceding 
month, 
Voting Rights: None, except as otherwise pro- 
vided by law; but in event one full year’s divi- 
dends are unpaid, preferred votes equally with 
common stock, share for share, so long as divi- 
dends are in arrears. 
Preference: Has preference as to assets and ac- 
umulated and unpaid dividends and in event of 
involuntary liquidation is entitled to par value 
($100 per share) accumulated and unpaid 
dividends: and in event of voluntary liquidation 
to par value ($100 per share) accumulated un- 
paid dividends, plus a premium of one year’s divi- 
dends. 
Redeemable: At any time as a whole or in part 
on thirty days’ notice at $107 per share and divi- 
dends. 
Provisions of Issue: Amount of preferred stock 
authorized by charter is $15,000,000, of which 
$4,500,000 has been designated “79, series” and 
‘he remaining $10,500,000 may be issued in oth- 
»r Series as designated by the Board of Directors, 
srovided surplus net earnings, calculated as pro- 
sided in the charter shall have been for twelve 
CF!