CITIES SERVICE COMPANY, incorporated on Sept. 2, 1910, in Delaware, as a holding company, controls through stock ownership more than zoo corporate enterprises in the United States, Canada, Mexico and other parts of the world, principally engaged in the production and sale of electricity, manufactured and natural gas, and petroleum. The company owns directly or in directly the controlling interest of more than 6o public utility services in 18 States and the Dominion of Canada, serving a population of more than 4,000,00o in 90o communities including such important cities as Denver, Colo.; Toledo, O.; Kansas City, St. Joseph and Joplin, Mo. ; and Kansas City and Topeka, Kan. The Public Utility companies have an installed capacity of more than 700,00o h.p. and in the year ending June 3o, 1928, sold 1,34o,000,o0o kilowatt hours of electrical energy, 91,000,000,o00 cu.ft. of manufactured and natural gas. The petroleum division is a complete unit in the industry, embracing the four essential phases—production, transportation, refining and marketing. The producing properties, which are located principally in mid-conti nent fields (Kansas, Oklahoma and Texas), during the year ending June 3o, 1928, had an average daily production of about 75,000 bbl. of crude oil.
The consolidated gross earnings of the system in the year end ing June 3o, 1928, were $167,689,42o; the net earnings to common stock and reserves of Cities Service company amounted to $2 2, which was equivalent to 27.34% of the average amount of common stock outstanding. The capitalization as of June 3o, 1928, after giving effect to the issuance of $30,000,00o gold de bentures, the application of the proceeds to the retirement or exchange of certain other funded debt, and the offering of addi tional common stock of the company, was as follows: Outstanding Common Stock (par value $2o) . 4,900,377 shares $6 Preferred Stock (no par value) . . • 6oc Preference "B" Stock (no par value) . 296,77o „ $6 Preference "BB" Stock (no par value) . 63,043 „ 5% Gold Debentures due 1958 . . . . $20,591,000 „ 5% Gold Debentures due 1966 . . . . » 5% Gold Debentures due 1963 . . . . 30,OOo,O0O „ (W. A. Jo.)