EXHIBIT No

DECEMBER 31, 1945
 

L I A B I L I T I E S
Capital  Stock:

Common stock...............................................     $ 39,995,385.00

Preferred stock...............................................           5,242,938.75

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

Total capital stock.................................                                  $ 45,249,950.00

Funded Debt;

First Mortgage 41^% Bonds.....................   $67,148,000.00

Less pledged as collateral under the First Lien and
Refunding Mortgage and the Adjustment In¬
come Mortgage per contra...................     66,204,000.00    $      944,000.00

First Lien and Refunding Mortgage 5% Bonds.....   $33,961,733.66

Less held in Deferred Assets ($4,758,000.00) and
Securities Issued or Assumed — Unpledged
($1,029.04) per contra.......................       4,759,029.04        29,202,704.62

Adjustment Income Mortgage 5% Bonds..........   $27,700,000.00

Less held in Deferred Assets per contra..........       4,649,000.00        23,051,000.00

Total funded debt..................................                                      53,197,704.62

Current Liabilities:

Audited accounts and wages payable............................     S       141,140.91

Miscellaneous accounts payable.................................              192,424.59

Matured interest and dividends payable.........................              174.660.56

Interest on Adjustment Income Mortgage Bonds outstanding in
hands of the public, 1H% declared, February 14, 1946, payable

April 1, 1946...............................................              288,137.50

Accrued interest and rents payable..............................             627,513.46

Other current liabiHties........................................                 2,484.33

Total current liabilities..............................                                        1,426,361.35

Deferred Liabilities:

Interest on Adjustment Income Mortgage Bonds outstanding in hands

of the public, 24K% deferred................................     S    5,647,495.00

Other deferred liabilities.......................................                12,081.64

Total deferred liabilities.............................                                        5,659,576.64

Unadjusted Credits:

Tax liability..................................................     $       196,519.41

Insurance and casualty reserves.................................              720,000.00

Maintenance reserves..........................................             276,623.48

Accrued depreciation—Road and equipment......................           7,081,389.29

Accrued depreciation—Miscellaneous physical property............           7,734,643.94

Other unadjusted credits.......................................             212,950.30

Total unadjusted credits.............................                                      16,222,126.42

Corporate Surplus:

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

Miscellaneous fund reserves....................................              354,761.92

Profit and loss—Balance.......................................           4,500,575.43

Total corporate surplus..............................                                        9,779,720.08
 

TOTAL...................................                                  $131,535,439.11