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504

FEDERAL REGISTER, Thursday, February 2, 1939

f 261,250 shares of the Common with the above mentioned bonds in the 1 The issuance and sale of $70,000,000 of debentures in amounts and at Stock, of the par value of $20.00 per principal amount of $500,000, of Wau interest rates and maturities as follows: share, of Wisconsin Michigan Power kesha Gas and Electric Company;
Company;
It is further ordered, That the appli 3%% series due 1949_________ $20,000,000
g 185 shares of the Preferred Stock, cation filed pursuant to Section 12 of the 3% % series due 1954__ _______ 25,000,000
4% series due 1959__________ - 25,000,000 6% Series, of the par value of $100 per in regard to the disposition by North share, of Wisconsin Michigan Power Act American Edison Company of the as 2 The issuance and sale of 696,580 Company;
sets hereinbefore itemized be and the shares of cumulative preferred stock, h 4,000 shares of the Capital Stock, same hereby is approved; and 5%% series, $50.00 par value;
of the par value of $100 per share, of the It is further ordered, That this order 3 The assumption by The North Milwaukee Light, Heat & Traction Com be subject to the following terms and American Company of a contingent lia pany;
conditions;
bility in connection with the above-men i 4% Note due December 26, 1937, tioned bonds in the principal amount of of Milwaukee Light, Heat & Traction 1 That all acts in connection with $500,000 issued by Waukesha Gas and Company in the amount of $15,600, with said applications and declaration shall be performed in all respects as set forth Electric Company, interest accrued thereon;
in, and for the purposes represented by, j 1,847,908
shares of the Common be and become effective forthwith;
said applications and declaration; and Stock, without par value, of The Cleve It is further ordered, That the plan 2 That within ten days after the filed pursuant to Section 11 e be, and land Electric i l l um inatin g Company;
k Voting trust certificates for 3,336 issuance and sale of the securities re the same hereby is, approved, as neces ferred to herein, the declarant, The sary and appropriate to effectuate the shares of the Common Stock, without par North American Company, shall file with value, of Laclede Power &
Light Com provisions of Section 11 b, and each this Commission a certificate of notifi of the following steps is directed to be pany;
l 200 shares of the Capital Stock, cation showing that such issue and sale taken to consummate said plan:
without par value, of Wisconsin Securi have been effected in accordance with the terms and conditions of, and for 1 T hat The North American Com ties Company of Delaware;
m All cash on hand or in bank at the the purposes represented by, the appli pany contribute subject to the receipt cations and declaration; and by it of the proceeds from the sale of date of such transfer;
3 That, subject to the receipt by n All dividends receivable by North its new debentures and preferred stock to North American Edison Company an American Edison Company as of the date The North American Company of the proceeds from the issue and sale of the amount in cash sufficient to enable North of such transfer; and American Edison Company to redeem o Any other assets of North Ameri securities hereinbefore mentioned, the and retire its outstanding debentures can Edison Company owned by it at the dissolution of North American Edison Company and the exchanges hereinbe and preferred stock, other than deben time of its liquidation; .
fore specified be accomplished as soon tures and preferred stock issued by 4
That The North American Com North American Edison Company which pany effect the following transfers, dis as reasonably practicable but in any event within one year from the date oi are owned by The North American charges and assumptions:
this order; and Company;
a The following securities issued by 4 That so long as declarant has 2 That North American Edison Company be dissolved as soon as prac North American Edison Company which outstanding any serial preferred stock, ticable after the receipt of the proceeds are owned by The North American Com as described in the proposed amendment from the issue and sale of the new pany shall be surrendered to North to its articles of incorporation, declar American Edison Company:
ant shall create no reserve of the nature securities;
$226,000 principal amount of 5% de referred to in Article Fourth e thereof 3 That North American Edison Com other than that already existing and pany transfer th e following property to bentures, Series A;
$212,000 principal amount of 5 % de described in the declaration as Reserve The North American Company for the for Contingencies provided from Capital transfers, discharges, and assumptions dentures, Series B;
$257,000 principal amount of 5% de Surplus otherwise than out of earned hereinafter listed in paragraph 4 be surplus, without the express approval of bentures, Series C;
low:
19,400 shares of $6.00 preferred stock, this Commission; and 5 That no charge shall be made a 2,295,000 shares of the Common without par value Stock, without par value, of Union Elec 490,000 shares of common stock, with against said Reserve for Contingencies provided from Capital Surplus unless tric Company of Missouri;
out par value in accordance with this Commissions b 1,050,000 shares of the Common b> The open account indebtedness Classification of Accounts for Holding Capital Stock, of the par value of $20.00 owing by North American Edison Com per share, of Wisconsin Electric Power pany to The North American Company at Companies and good accounting prac Company;
the date of the latters transfer of prop tice, and after thirty days notice to this c 13,494 shares of the 6% Preferred erty to the former, in accordance with Commission that declarant proposes to Capital Stock, of the par value of $100 paragraph 3, shall be canceled and dis make such charge; and 6 That the Commission reserves per share, of Wisconsin Electric Power charged.
with respect to the account Company;
c The North American Companyjurisdiction ing entries to be made on The North d 78,710 shares of the Preferred Cap shall assume and agree to pay and dis American Companys books reflecting ital Stock, Issue of 1921, 6% Series, of charge all current and accrued liabilities these transactions.
the par value of $100 per share, of Wis of North American Edison Company, ex By the Commission.
isting at the time of the final distribution consin Electric Power Company;
seal F rancis P. B rassor, e 300,000 shares of the Common of its assets, as they become due and pay Secretary.
Stock, of the par value of $20.00 per able, such assumption and agreement to share, of Wisconsin Gas & Electric Com include the contingent liability of North F. R. Doc. 39-381; Filed, February 1, 1939;
American Edison Company in connection pany;
12:33 p. m.

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