PUBLIC UTILITicCS Interest Payable: Semi-annually, May Tax Status: Company pays normal and Nov. 1, at Trustee's office. 29% Federal income tax. Principal Payable: Nov. 1, 1929, to Security: First closed mortgage on 1934, incl., $50,000 each; 1935, 1936, $75,- all floating equipment, valued at $2,- 000 each; 1937, $100,000; 1938, $200,000, 200,000. Company has assigned to trus- at Trustee's office. tee all leases, rights and franchises. a. . Legal Opinion by: Chadwick, Mec- . Trustee and Regis Pacific Na- Micken, Ramsey & Rupp, and Geo. Har- tional Bank, Seattle, ash. roun, Seattle, Wash. Registerable: As to principal. Offered by: Drumheller, Ehrlickman Denominations: $1,000, $500 & White, Dean Witter & Co., First Se- Callable: As whole or'in part, on 60 Pacifie National Coo Fewris 4 Tara’ days’ notice at 102%2 in inverse order ;rgve Tucker, Hunter, Dulin & Co., of maturity. Baillargeon, Winslow & Co., all of Se- Sinking Fund: One-twelfth of an- attle, Wash, Oct., 1928, price ranging nual principal and interest require- ‘rom $100 to $96.50 as maturities ad- ments deposited monthly with Trustee. rance. PUGET SOUND POWER & LIGHT COMPANY GENERAL OFFICE: Stuart Bldg., Seattle, Wash. CONTROL: By Engineers’ Public Service Corporation. HISTORY: Incorporated under laws of Massachusetts, July 8, 1912, as Puget Sound Traction, Light & Power Co. a reincorporation of a company of the same title, incorporated Jan. 19, 1912, under the laws of Maine. Present title was as- sumed March 22, 1920. The following companies were consolidated or absorbed in 1912: Seattle Elec- tric Co., Puget Sound Power Co., Seattle-Tacoma Power Co., Pacific Coast Power Co., Whatcom County Railway & Light Co. BUSINESS: Company owns and operates extensive electric light and power sys- tems, doing the greater part of the commercial electric light and power business in Western Washington and in a considerable portion of the central part of the State. With the exception of a few small properties, it furnishes practically all the light and power service, outside of that supplied by the municipalities of Se- attle and Tacoma, in an area of over 30,000 square miles. The company through subsidiaries operates an extensive co-ordinated stage service from Vancouver, B. C., to Portland, Ore. SUBSIDIARIES: (1) North Coast Transportation Co.: Operating motor coach lines between Van- couver, B. C,, and Portland, Ore., a distance of 380 miles, serving all intermediate cities. Operates under franchise and certificates of necessity granted by the Washington Department of Public Works. On Dec. 31, 1929, company operated 80 motor coaches and had placed an order for 15 new coaches for delivery in 1930. Operates interurban lines between Seattle and Eevrett and Mount Vernon and Bellingham, with 61 miles of trackage. also operates street railway and busses in the City of Everett (2) Washington Electric Co.: On Jan. 21, 1930, this company was granted a Federal license to develop a hydro-electric project at Rock Island, on the Colum- bia river, near Wenatchee, Wash. On Jan. 22, 1930, company awarded contract to Stone & Webster Engineering Corp. involving $15,000,000, covering cost of con- struction of first unit, calculated to develop £0.000 h.p. with potential develop- ment totaling 240.000 h.p. (3) Diamond Jee & Storage Co.: Operating a cold storage plant and manufac- turing ice in the City of Seattle, Wash. SEATTLE STREET RAILWAY: On March 31, 1919, company sold to the City of Seattle its system of electric street railway lines, operated within the city, for a consideration of $15,000,000, accepting bonds, in this amount, of the Seattle Munic- ipal Street Railway, bearing 59% annual interest, and payable serially, 1922 to 1939, with $833,000 annual maturity. In 1929 the company, at the request of the City of Seattle, consented to waive the 1930 and 1931 maturities, extending final maturity to 1940-41. The residue of these bonds are held by the company, de- posited with the Old Colonv Trust Co.. Boston, trustee for the company’s mort- gages. EXECUTIVE OFFICERS: Alton W. Leonard, Pres.: Donald C. Barnes, Vice Pres.; Hamilton W. Welch, Vice-Pres.: Harry L. Harding, Vice-Pres.; Charles E. Miller, Vice-Pres.; William H. McGrath, Vice-Pres.; Samuel P. MacFadden, Vice- Pres.; William E. Wood, Vice-Pres.; Fred W. Brownell. Treas.;: Edgar L. Crider. Asst. Secv.: William T. Crawford, Clerk. DIRECTORS: Charles W. Kellogg, Chairman; Harcourt Amory, Alexander Hen- derson, George C. Lee, Alton W. Leonard, John R. Macomber, Bayard F. Pope, Ernest W. Purdy, Waldron H. Rand, Jr., John C. Rice, Frederic E. Snow, Philip Stockton, Charles B. Barnes. Willard T. Carleton. Charles Stetson. Orrin G. Wood. William E. Wood. Fiseal Year Ends: Dec. 31. Annual Meeting: 1st Monday in March