*'="'i'3'n Scu.i,
 

k-] I " W
 

ANNUAL
REPORT

to  stockholders

for the year ended

december 31

1934

THE   POWER   CORPORATION
OF   NEW   YORK
 

HUDSON
 

Tht within report is transmitttd to thi stockholders of the company and to others requesting it solely for their statistical information. This
report is not a representation, prospectus or circular in respect of any stock or security of any corporation, and is not transmitted in conmc-
tion with any sale or offer to all or buy any stock or security now or hertafter to bt issued, or with any prelbninary neiotintion for such sale.