PUBLIC UTILTT
LIABILITIE
Common Stock
Preferred Stock . .
Funded Debt ..... pm mm
Bills Payable ........ er ememmeeeeocemeaeeannas
Accounts Payable . ee meeeeeeemmeeeeeeenenaeeonas
Accrued Liabilities ....... EYES reams m AEA Sn
Reserve for Depreciation...
Surplus ... tema tnameane. a ee
4.400,000
1 300,000
74,000
7,000
£023
C4
Ny r
Lo
i
19,4:1v
TOTAL LIABILITIFS .....
FUNDED PEBT, As of Dec. 31, 1979
Rate ated
1st & Ref. Mtge. Series A... 5% -T fF
1st & Ref. Mtge. Series B.... 5% 1-1-50
P. S. Tel. Co. Bonds. reeeeee BO 6-1-27
2.537
{
CL. 4
“WU, aul
Outstanding
1. $2,958,500
2. $200,000
3. $724,500
1. FIRST & REFUNDING MORTGAGE 5% 25-YEAR GOLD BONDS, Series A & B
Interest Payable: Jan. and July 1, and bonds outstanding and to be is-
at trustee's office or American Trust sued.
Co., San Francisco. Additional bonds may be issued, par
Trustee: United States National value for par value, to refund bonds
Bank, Portland, Ore. of previous series outstanding under
Registrar: First National Bank, Ev- this Indenture.
arett. Additional bonds when issued shall
Registerable: As to principal. oe of such series and have such ma-
Denominations: $1,000 and $500. ‘urity, interest rate, redemption price,
Callable: As a whole or in part on ronversion and other provisions as may
first day of any month on 30 davs' no- be determined by the Board of Trus-
tice at 103 for first 10 years, 102 for ‘ees.
next 5, 101 for next 5, and at par there- Tax Status: Company pavs normal
after to maturity. “ederal income tax up to 2% and re-
Limit: Trust Indenture limits the ‘unds Calif. 5-mill personal property
amount of bonds that may be issued ax.
upon properties owned as of Sept. 1,
1928, to $5,000,000 par value, of which
$724,500 Series A bonds are deposited
with Trustee to refund outstanding
bonds of Puget Sound Telephone Co.
Bonds in excess of $5,000,000 are lim-
ited to a par amount not exceeding 70%
of cost or value (whichever is less) of
additions and betterments added or ac-
quired by Company and may be issued
only when net earnings for 12 consecu-
tive months out of preceding 15 months
shall have been not less than one and
three-fourths times the total interest
requirements on all underlving bonds
3. PUGET SOUND TELEPHONE (CO. 1st
Interest Payable: Jan. and July 1,
at trustee's office.
Trustee: First National Bank, Ev-
srett, Wash.
Registerable: As to principal.
Denominations: $1,000 and $500.
Callable: As a whole only on 60 days’
notice on July 1, 1937, or any interest
ate thereafter at 105.
Sinking Fund: Beginning Jan. 1,
1928, $10,000 to be set aside semi-an-
nually to purchase bonds at not over
MORTGAGE 5% GOLD BONDS, Series A
971. Payments not required if sink-
ing fund amounts to $20,000 at any
Lime,
Tax Status: Company pays 29% nor-
mal Federal income tax.
Security: First mortgage on assets
of former Puget Sound Telephone Co.
Legal Opinion by: Peters & Powell.
Seattle, Wash.
Offered by: Blyth & Co. and Peirce.
Fair & Co., July, 1927, at 9614.
WILLAPA ELECTRIC COMPANY
GENERAL OFFICE: Raymond, Wash.
CONTROL: By Cities Service Light & Power Co.
HISTORY: Incorporated under laws of ‘Washington, Aug. 2, 1913, as a consoli-
dation of Willapa Harbor Ry. Co., Twin City Electric Co. and South Bend Elec-
tric Co.
BUSINESS: Opersat:- “ miles of single track railway end engages in the dis-
tribution of ‘lectric “... and power. Owns 28.25 miles of pole line.
CAPITALIZATION Par Value Authorized Outstanding
Common Stock .............. $100 $910.000 $400.000
Entire stock owned hv Cities Service Power & Light Co
FUNDED DEBT
Ist Mortgage Convertible Rate Dated Due Authorized Outstanding
Bonds, Series A, B, C................ 69% 7-1-13 7-1-23 $483,000 $483,000
All of these bonds have been extended and are held by controlling company,
Interest Pavable: J & J. 1, at New York Trust Co.. New York Trustee