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 isat
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 Trustice
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 limited
to a par amount not exceeding 70%
of cost or value (whichever is less) of
additions and betterments added or acquired
by Company and may be issued
only when net earnings for 12 consecutive
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, Evsrett,
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-annually
to purchase bonds at not over
MORTGAGE 5% GOLD BONDS, Series A
971. Payments not required if sinking
fund amounts to $20,000 at any
Lime,
Tax Status: Company pays 29% normal
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 consolidation
of Willapa Harbor Ry. Co., Twin City Electric Co. and South Bend Electric
Co.
BUSINESS: Opersat:- “ miles of single track railway end engages in the distribution
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
