PUBLIC SERVICE CORPORATION OF NEW JER SEY, a holding company carrying on its activities through sub sidiaries, was incorporated in 1903, and thereupon acquired the ownership of the principal electric, gas and street railway com panies of New Jersey. It was one of the first great aggregations of public utility properties in the United States. Its principal sub sidiaries, Public Service Electric and Gas Company and Public Service Co-ordinated Transport, operated in 426 New Jersey municipalities, providing gas, electric, street-car and motor bus service. The territory served reaches from the Hudson to the Delaware river, and includes the cities of Newark, Jersey City, Paterson, Trenton, Camden, Hoboken, Passaic and Bayonne—in all of these services, and the cities of Elizabeth and Perth Amboy in all except gas service. This territory contains 95% of the State's population and 9o% of its industrial activity.
The Public Service electric system, interconnected for exchange of power with large systems in New York and Pennsylvania, in cluded five large steam operated power plants and some 8o sub stations. The system of gas mains extends across the State and is all interconnected ; the motor-bus and the street railway systems are among the largest in the United States.
Upwards of $415,000,000 of new capital has been expended in the last 36 years, in extending and developing the plants of the subsidiaries of the corporation. The securities of the corporation and its underlying companies are distributed among approximately 104,000 owners, the number of individual stockholders of the cor poration itself being in the neighbourhood of 85,000. The operating revenues of the Public Service Corporation of New Jersey for the year 1938 approximated $527,000,000. (T. N. McC.)