EXHIBIT No. 3

DECEMBER 31, 1941
 

LIABILITIES
Capital Stock:

Common Stock...............................................    $ 39,995,385.00

Preferred Stock...............................................           5,242,938.75

Stock liability for conversion...................................                11,626.25

Total Capita! Stock.................................                                   $ 45,249,950.00

Funded Debt:

First Mortgage 4}^% bonds......................   $67,148,000.00

Less pledged as collateral under the first lien and
refunding mortgage and the adjustment income
mortgage..................................     66,204,000.00    $      944,000.00

First lien and refunding mortgage 5% bonds.......   $35,819,733.66

Less held in OTHER investments ($1,029.04,
per contra) and Property Amortization Fund
($2,900,000.00, per contra)...................      2,901,029.04        32,918,704.62

Adjustment income mortgage 5% bonds...........   $33,102,000.00

Less held in Property Amortization Fund, per   '

contra.....................................      4,649,000.00        28,453,000.00

Total funded debt..................................                                      62,315,704.62

Current Liabilities:

Audited accounts and wages payable.............................    $      213,176.10

Miscellaneous accounts payable.................................                13,102.57

Matured interest and dividends payable.........................              116,564.31

Accrued interest and rents payable..............................              707,108.86

Other current liabilities........................................                 2,628.47

Total current liabilities..............................                                         1,052,580.31

Deferred Liabilities:

Interest on adjustment income mortgage bonds outstanding in hands

of the public, 203^':^ deferred................................    $    5,761,732.50

Other deferred liabilities.......................................                 4,778.74

Total deferred liabilities.............................                                        5,766,511.24

Unadjusted Credits:

Tax liability..................................................    $      633.046.01

Operating reserves............................................               16,722.82

Accrued depreciation—Road and equipment......................           5,964,312.46

Accrued depreciation—Miscellaneous physical property............           6,846,634.91

Other unadjusted credits.......................................                18,196.17

Total unadjusted credits............................                                       13,478,912.37

Corporate Surplus:

Funded debt retired through surplus............................    $   4,924,382.73

Miscellaneous fund reserves....................................             486,845.80

Profit and loss—Balance (Deficil)..............................           1,099,829.10

Total corporate surplus..............................                                        4,311,399.43
 

TOTAL...................................                                   $132,175,057.97