EXHIBIT 5

CAPITAL STOCK AND FUNDED DEBT, DECEMBER 31, 1948

CAPITAL STOCK

No. of                                      Issued and Outstanding

CLASS OF STOCK                                                                             Shares-----------------------------------------------

Authorized                            Number                         Amount

Common, par value $100.00 per share (1 and 2)...........................................       500,000                    399,943.6375          $39,995,385.00

Preferred, par value $100.00 per share, convertible to Common at option of holder, at $110.00 (1).        100,000                      52,421.75                 5,242,938.75

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

TOTAL capital STOCK, Exhibit 1.................................................                                                                   $45,249,950.00

(1)   In addition to the respective shares of Common and Preferred stock outstanding, the following old scrip has not been converted into full shares:

Common stock...............................................................................        10.2125 shares

Preferred stock.................................................................................        7.6375 shares

(2)   56,292 shares of authorized and unissued Common stock are held in reserve for conversion of 52,500 shares of Preferred stock and $942,000.00 First Mortgage 414% bonds.

FUNDED DEBT
 

CLASS OF BONDS
 

Denom¬
ination
 

When
Due
 

Amount of Bonds
Authorized
 

Amount
Outstanding
 

First Mortgage (1)........    $1,000      Feb. 1, 1907     Feb. 1, 1957     4H%     Feb. 1, Aug. 1      $    942,000.00     $    942,000.00     Guaranty Trust Com¬
pany of New York
First Lien and Refunding   [ 1,000]
 

Mortgage, Series A (2)..   I    500^    Feb. 1, 1913     Feb. 1, 1957     5%         Feb. 1, Aug. 1

I    lOOJ
Adjustment Income Mort-  / 1,000\    Feb. 1, 1913     Feb. 1, 1957     5%         Apr. 1, Oct. 1

gage (3)...............   1   500/
 

65,000,000.00
33,574,000.00
 

33,806,733.66
 

Central Hanover Bank
and Trust Company
 

26,403,000.00     Guaranty Trust Com¬
pany of New York
 

$99,516,000.00     $61,151,733.66
 

(1)   The balance of the issued First Mortgage 4J^% bonds, in the amount of $66,204,000.00, is deposited with the trustees of the First Lien and Refunding Mortgage and the Adjust¬
ment Income Mortgage in accordance with the terms thereof.

The First Mortgage bonds outstanding, redeemable at par at the option of the Company, are convertible to Common stock at the option of the holder at $110.00.

(2)   The First Lien and Refunding Mortgage bonds reacquired prior to December 31, 1948 amounted to $8,551,929.04, of which $4,823,000.00 are held in the Property Amortization
Fund and $1,029.04 in Securities Issued or Assumed, Unpledged, and $3,727,900.00 were cancelled and retired as follows:

$     13,400.00 par value in June, 1916                                     $   458,000.00 par value in Dec, 1944

1,701,500.00 par value in Aug., 1936                                         257,000.00 par value in Dec, 1945

1,143,000.00 par value in Dec, 1943                                          155,000.00 par value in Dec, 1946

The First Lien and Refunding Mortgage bonds outstanding are redeemable at 105% of face value at the option of the Company.

(3)   The Adjustment Income Mortgage bonds reacquired prior to December 31, 1948 amounted to $12,253,000.00, of which $5,554,000.00 are held in the Property Amortization Fund
and $6,699,000.00 were cancelled and retired as follows;

$   742,000.00 par value in Dec, 1942                                     $   885,000.00 par value in Dec, 1945

2,617,000.00 par value in Dec, 1943                                       1,297,000.00 par value in Dec, 1946

1,158,000.00 par value in Dec, 1944
The Adjustment Income Mortgage bonds outstanding are redeemable at par at the option of the Company.