Evening Star Newspaper, July 24, 1936, Page 17

FI ADVERTISEME! If Constipated Take This Tip Here's one of the friendliest tips one can give another—how to really relieve Constipation. It is simply this: One or two E-Z Tablets taken when bilious, due to Constipation, are amazingly effective . .. yet so mild and entle. 1f you haven’t felt good or sometime . . . have headaches, tired feeling, no pep, you may be suffering from Intestinal Fatigue, commenly called Constipation. If 80, E-Z Tablets are what you need. You get 60 little E-Z Tab- fets for 25c. At all good drug stores. IT'S WORTH MAKING A NOISE ABOUT! munnfifl! Well, anyway, someone died—stabbed in the neck with a pitchfork—and we're not going to tell you how. Carl Clausen does that, in one of the most baffling mystery stories we've seen in some time: "THE JAVELIN OF DEATH.” * SCIENCE, T0O0: :.n T. Stetson, the eminent Harvard Astronomer, tells an amazing * * story of how the moon lifts, shifts, | and otherwise rearranges our so- called “terra firma" each might. * LAUGHS GRLORE: » down-and-out architect goes swimming . - . loses his only suit of clothes . . . goes on without it to win a job, a wife, and . . but * * NANCIAL. BANK RESOURCES - AND LIABLIIES |Statement Is Issued Here by the Federal Reserve Board. | By the Associated Press. Combined resources and liabilities of the 12 Federal Reserve banks at the close of business Wednesday were reported last night by the Federal Reserve Board, in thousands of dol- | 1ars, as follows: Assets. | Gold_certificates on hand and due from U. 8. Treasury Redemption iund—F. R. Other cash = Total reserves | Bills discounted: Secured by U.'S. Govt. obliga- tions. direct or fully guar- anteed - Other bills discounted | Total bills discounted | Bilis bought in open market Industrial advances | U. 5. Govt. securities: N R.400.947 1.528 3 Treasury notes = Treasury bills | Total U. S. Govt securities Other securities Total bills and securities Due_from foreign banks R notes of other banks Uncollected items Bank premises All other assets Total assets Liabitities, | P. R_notes In actual circulation 3.976.863 | Deposits | " Member bank—reserve ac- coun - - S. Treasurer—general ac- nt - cous Foréign bank Other deposits Total deposits Deferred availability items Caital paid in | Surplus (section 7) | Burplus (section ' 1:3b) Reserve for contingencies Al other liabilities Total liabilities | Ratio of total reserves to de- posit and F. R. note liabili- ties combined Commitments to make industrial advances SECURITY LOANS DROP $8,000,000 Federal Reserve Board Puts Total for Past Week at $970,000.000. By the Associated Press. Loans on securities to brokers and | dealers held by weekly reporting mem- | ber banks in New York City, are re- ported by the Federal Reserve Board to have totaled $970,000,000 for the | week ending Wednesday, a decrease of $8.000,000 for the week. Loans for the corresponding week a | year ago totaled $880,000,000. Distribution for the week, with com- parisons for the previous week and the corresponding week a year ago, were: vious week, $904.000,000; Outside New York City: This week, 000.000; previous week, $74.000,000; ago, $58.000,000. NICKEL COMPANY PLANT EXPANSION PLANS MADE By the Associated Press. NEW YORK, July 24.—Plans for a NG CHAPTER XXIIL ATSY crouched deeper in the leather chair of the sun par- lor, a part of the shadows and i as silent as them. She sat as P { motionless as & portrait, hating her- & dollar bill! self for the nerves that clutched at| “Mental ocruelty, eh? Vague, her throat like tense fingers and the | cPliemeral term that satisfies the intolerable pounding of her heart, | imegination. No sane-minded judge could look at me, Lee Cavendish, and | Like a glant yellow eye the Autumn | give you a divorce on such grounds! | moon stared through the tall windows | Forget it, for I shall never divorce | of the sun parlor and beamed on the | yoy nor permit you to divorce me. | slender figure of Kitty Cavendish, | At least, not until I have a better who had slipped quietly and unob-|reason than handing you over to |served from the corridor and stood | patsy Warfield on—shall we say—a pressed close against the framework | silver platter? John the Baptist’s | of the door. It was obvious that she | head was served that way, 1 believe!” was avoiding the whispering group of | ves, once it had been difficult to | nurses who .were on their way to the | reconcile those words with Kitty's midnight mass supper or perhads & | beautiful face. But not mow! Not cigarette oh the wrought-iron bal-| now! There, standing partly in the conies, | moonlight and in the light from the Kitty's face wore a curious expres- nall, Patsy saw the revelation of Kitty | sion. Now, as on the night when she Cavendish herself, as a picture under had returned to Annapolis from Rome | & stereoscope lens takes on a third to find Lee and Patsy in each other’s | dimension. Saw there in that un- “Wherever you go, Lee, I shall fol- | {low like a devoted slave to combat the suit. Money will be in my favor there, you know. I believe the destiny of man is engraved on the face of STAR, WASHINGTON, In New York City: This week, $897.- | arms, she smiled a strangely meas- uring smile that showed teeth with- out lighting her eyes. that a man might wear who lurks armed in dark places and watches | his victim approach. She did not see Patsy. She did not know that the sun parlor held any one or anything but the dim shapes of the shabby hospital furniture. Her eyes were steadily on the corridor— | | dark and quick and anxious. Several times she made a motion as if to hurry on her way, but a voice, the | flicking signal of a patient’s light or 3| the closing of a distant door kept ! | her—kept her— Kept her from what?—Patsy won- dered. What was Kitty doing in the hospital? Had her visit any connec- tion with Victor? Was she keeping a | clandestine tryst with a doctor? Why was she hiding like this? Why? Crouching there in the deep leather | chair, fearing every second that Kitty would hear her excited breathing, that her teeth chattering like distant | musketry would make Lee’s wife con- scious of her presence, Patsy studied the woman’s face. This woman who had twisted and distorted Lee’s life— | and her own! Once she had thought Kitty Mitchell Cavendish the most beauti- ful creature she had ever seen, with her white skin, her shining black hair and that certain vividness about her that made men turn to look at her. Once she had wondercd how such a sweetly exotic person could treat Lee as she had. It had been hard to reconcile Kitty's caustic con- versation, which Lee had repeated in detail, with her almost serene coun- tenance, “You can't get a divorce, Lee, with- out the delicate ceremony of bring- ing a man and a bed or both into court. I haven't the slightest inten- tion of furnishing you with the nec- essary evidence.” DAILY It was a smile | | guarded expression and in those eyes | narrowed to gleaming slits a iook that puzzled, then repelled, then horrified. Under her inextinguishably iovely exterior strange, cruel — perhaps brutal—forces held revelry and shone through to the surface; tendencies that delighted in mental tortures as she had for years tortured Lee by holding the court-martial over his head. Hers was the face of a woman who loved to cause and watch the emotional squirmings of other beings. The hospital corridors were very quiet now. Kitty leaned a little for- ward, looking right and left. Then she slipped like a soft breeze into the hall and hurried silently down the long shadowy corridor towurd the public ward, her silver foxes pulled | high and luxurious around her chin. In utter bewilderment Patsy stood in the door of the sun parlor watch- ing, not daring to trail that black | velvet-clad figure, for Kitty was glancing back frequently, with the | reckless look of a woman who feared ! that wild beasts or malevolent | enemies were tracking her. All at once a light flickered above a patient'’s door, a chair at the far| exd of the corridor scraped softly on | ske rubberized flooring and a nurse | @9 up to answer the beckoning light. | Patsy saw Kitty jerk erect, wheel | around in a panic of indecision and dart at last beyond the swinging door | of the hall kitchenetie. When the nurse, her starched skirts making the only sound on the floor at the moment, crossed to the blinking light and shut the door behind her, Kitty | emerged from hiding and stood there | in the hall. Waiting. Listening. Nervously fingering the base of her throat. Hospital noises and odors. A low moan. A child’s agonized cry for his | mother. Some one’s sobs growing fainter and then— Silence! A hall window on the fire escape was up a little from the sill and a soft, cool | SHORT STOR' LIKE A FLOWER By Nan Pierson Hitt. | moderate expansion of International Nickel Co.’s Huntington (W. Va.) plant ARY ARNOLD in an astonishing- | D. C. FRIDAY. JULY 24.,_1936. feet and threw over him weird purple shadows. He was deep in drugged sleep and once while she stood there leaning heavily against the wall she saw him turn over on his back, heard him moan like a wounded animal. For one instant Patsy wondered if she had lost consciousness from nerve strain and fatigue in that sun parlor and had dreamed all this. She wanted to believe that she had. She wanted to believe that this sense of impending What could all this mean?|gigyter meant actually that her Patsy reached the end of the cor- ridor, slid carefully along the wall, the far end of it a nurse was bending over a table shaded by a lamp draped in green. Her elbows were resting on the table edge and her forehead was was only a fantastic nightmare that had clung, as if real, upon awaken- ing. But in the next instant Patsy knew it was reality after all, for she saw Kitty emerge, dark and slim, from be- hind the screen. S8aw her looking down |at Victor, with a ferocious hatred shooting" cut from her body like a on her clasped hands. She looked as| mighty confligration, the zagged scar if she were dozing or going slowly over the stack of patients’ charts before her. Patsy could not see Kitty. Could not even hear the soft pad of her ex- pensive soles. But she could see the outline of Victor's incumbent body in the high, narrow bed near the door. The screen was still at his bandaged ' her gloved hand caught the light and | well! on one side of her forehead becoming !a livid rope with the emotions that lashed in her veins. Saw Kitty’s face | very clearly in the light from the cor- ridor—the face of a diabolical vam- pire who licks his lips before a feast on the blood of his victim! Something bright and shining in FINANCIAL. * A-17 reflected it on the celling—something Oh, my God—my God—" And she that raised lhfly and to aim | sank unconscious against the breast at the heart of the sleeping Victor! | of the young interne who held her Patsy's tense nerves snapped. A | (To be continued.) scream rose in her throat like a mad | i:re-un'e‘n, filling the halls and sending| CONS ill patients erect and trembling in their | beds. Panic! Pandemonium! Lights| flashed on in rooms—bulbs blinked NEW Y —] frantically over doors. The nurse in | SR S Esineng the ward jumped up from the desk | cOnstruction awards advanced this and hurried toward that shriek of ter- Week to $50,992,000 from $42,689.000 ::iuht‘;{. ummurt:e ux, shat- | iast week and $25,92¢4,000 in the like ears, splitting walls. week a year ago, Engineering News- And presently the corridor was crowd- Record reported today. ed with nurses, with internes, with | colored elevator oys—the whole night | Private awards this week increased |to $17,169,000 from $5,596,000 in the staff on duty. | pata k:ci'/ nothing, was consclous | UKe Week last year. Public awards y 4 OUS | were up to $33,823,000 from $20,328,000 only of her sharp cries, of having N0 | iy, e corresponding week of 1935 power or strength with which to con- | B trol them. She knew nothing until she | felt strong hands on her shoulders— strong hands that shook her as if to| rattle the teeth from her head and an | oo v cooase in bst ugar delletion authoritative young voice saying in li in the United States during June wes ——e TRUCTION AWARDS SHOW LARGE ADVANCE By tne Associated Press BEET SUGAR DELIVERIES. professional whisper, “Hysterical! 5% o5 | reported today by the United States | Miss Walters—hypo—quickly! Beet Sugar Association. Deliveries to- | Patsy gasped out, fighting those | taled 2,703,766 bags against 1,546,549 | hands that were bruising her arms,|in June, 1935. For the first half deliv- “Go to Mr. Caldwell!—go to Mr. Cald- | eries aggregated 12,638,364 bags against She shot him! She shot him!|13,871,073 a year ago. This is not an Offering Prospectus. The offer of these Bonds is made only by means of the Offering Prospectus. This issue, thaugh registered, is not approved or disapproved by the Securities and Exchange Commission, which does not pass on the merits of any registered securities. $30,000,000 The New York Edison Company, Inc. First Lien and Refunding Mortgage 3":% Bonds, Series E Dated April 1, 1936 Due April 1, 1966 Interest payable April 1 and October 1 in New York City CITY BANK FARMERS TRUST COMPANY, NEW YORK, Trustee Redeemable, at the option of the Company, in whole or in part on any semi-annual interest date on at least 30 days’ published notice, and in whole at any other time upon at least 60 days’ published not and including April 1, 1941, at 187 % thereafter to and including April 1, 1946, at 106 105%:; therealter to and includi accrued interes to and including April 1, 1951 including April 1, 1961, at 102 ice. at the following prices with : thereaflter April 1, 1956, at 103'2%; thereafter to and g %; thereafter to and including April 1, 1963, at 101%; and thereafter at 100%. Legal investment, in the opinion of counsel for the Principal Underwriter, for Satings Banks in the State of New York. The following is merely a brief outline of certain information contained in the Offering Prospectus andis subject to the moredetailed statementsin the Offering Prospectus and the Registration Statement, which also include important information not outlined or indicated herein, The Offering Prospectu which must be furnished to each purchaser, should be read prior to any purchase of these Bond-:. THE COMPANY The New York Edison Company, Inc., all of the stock of which, except 2 shares, is owned by Consolidated Edison Company of New York, Inc., was incorporated in New York on August 1, 1935, s a consolidation of The New York Edison Company and The United Electric Light and Power Company. The Company is engaged in the distribution and sale of direct and allernating current electricity to consumers in Manhattan and that portion of The Bronx lying west of the Bronx River, New York City. The Company gtm supplies electricity to certain affiliated electric companies of the Consolidated Edison Company of New York System for distribution outside of the territory served by the Company. The energy is in part purchased from others and in part generated at the Company’s own plants. The Company’s properties include generating stations. substations and a transmission and distribution system. Practically all of the underground transmission and distribution lines are in conduits rented from an afliliated company. Consolidated Edison Company of New York, Inc., has applied to the Public Service Commission of the State of New York for the merger into itself of the Company. If and when such merger is effected, the Series E Bonds and other obligations of the Company will become obli; Prospectus contains certain information in regard to t capitalization and certain consolidated financial statements. CAPITALIZATION OF THE COMPANY First Consolidated Mortgage Gold Bonds, 5%, due 1995 of The Edison Electric Illumi- nating Company of New York (515,000,000 originally authorized gage Five Per Cent. Gold Bonds, due 1948 of The New York Gas and Electric Light, Heat and Power Company (515,000,000 aut horized g Purchase Money Gold Four Per Cent. Bonds, due 1949 of The New Light, Heat and Power Company (521,000,000 originally authorized) .. First Mort tions of the Consolidated Edison Company. The Offering Company including certain data as to its business and or nd Electric 20,888,000.00 First Lien and Refunding Mortgage (Open End Mortgage) the popular Channing Pollock were announced today by Robert C. can tell it much better than we. | Stanley, president. The program includes addition of a | ‘new unit to the open-hearth furnaces, | | enlargement of laboratories and con- | struction of a new administrative of- fice. The company declined to give an | 30,000,000.00 55,000,000.00 1,267,511.74 = *$124,343,511.74 Common Stock—no par value, stated value $50 per share (5,313,999 shares authorized and outstanding of which 2 shares are reserved against scrip of a predecessor) . . . ... $265,699,950.00 ly short time he was back, the bot- | tle of cream in one | hand, and a long box in the other. | “A box from the | florist.” he an-| Gold Bonds, Series A, 6/32%, due 1941 of The New York Edison Company. .. 3Y,% Bonds, Series D, due 1965 of The New York Edison Company, Inc. Real Estate Mortgages had overslept thirty minutes. As a consequence the Arnold kitchen in Cleveland Park seethed with a dreadful activity. < * * HOSTESS HINTS: sna this time they come from a man! Jascha Heifetz, as adept at enter- taining as he is at the violin, tells some of the exotic recipes he has collected in his tours around the world. And they really make good eating as well as good reading! * IIIESTEH“: Here's a story for you he-men, written by Rollin Brown, who knows his horseflesh and his wide open spaces. "SILVER HORSE" is the story of a great horse who rose to an important occasion—atfter e was supposed to be*'through.” * * * * * 5?0'“'5: Meet the girl Berlin will be talking about next month: young Helen Stephens of Missouri, America’s new track marvel, holder of many records in the sprints, broad jump, discus and shot-put. O. K. Armstrong, a fellow Missourian, tells you her interesting story Sunday. * * * BERUTY: Martha Leavit, who's been snooping around the most important Hollywood dress- ing rooms for you, brings back some tips on make-up technique that are just too, too ingenious. Try them and see! * * * OF COURSE, LDVE: Love and marriage in Hollywood is the theme of I. A. R WYLIE'S new serial, "THIS IS MY WIFE". In case you missed the first chapter last week, there's still time to startin. It's a grand novel, written especially for THIS WEEK y el s =and you. Don't miss it! * * SEE YOU SUNDAY! @he Sunday Htar ORDER YOUR SUNDAY STAR NOW & * estimate as to the amount of capital involved in the improvements. Stanley said the Huntington plant, which produces monel metal and pure nickel, is now operating at approxi- mately the 1929 level. R DIVIDENDS ANNOUNCED NEW YORK. July 24 _Dividends de- clared (prepared by the Standard Stalis- ties Corp.) Accumulated. Pe- St Rate. riod. record. able 815 a1 8-15 | ontario Steel Prod o i!)nued Gas $7 }7! |Ewa Plantation. " Seaitle Brewing & Malt ing_Co. i | Sterling Brewers. Ini ec: Wagner Electric Corj Rej Chile Cfl;flr Co. . Enamel Products Greene Cananea_ Selbs_ Shoe Co. Am Pap Goods Columbia Pict. conv. i Corporate _Investors le!(l\ & Wing Pape Dominguez Oil Pields | Globe Democrat Pub. ot poeac "s | Lake of “the Woods Mill 7% Pt~ nit. B 7-31 814 Monarch | .. 5% _pf._ | Tide water | Tide Water Oil | United Gas C $7_pf. g U. S. TREASURY POSITION. BY the Associated Press. The position of the Treasury July 22: Receipts. $61,280,079.06; expenditures, $62,656.540.84: ‘et balance, $2.371.730.- ZAT8S; customs recelpls for the monik, | ipts for the fiscal year (siace July 1). $214.573.838.33; i ), $e - | 350,531 " includiae * $12.008:688.35 €1 | pmersency expenditures: excess of expendi- tures. 0.68; gross _debt. | ay; gol . $10,- | ‘4“2&5‘?‘1{?09." i s 1 ecei] & b )3 [ date Tagt year) $57534.516.307 eependic tures. 380,048,027 8 968.874.459.09. montn 30; cludi; pend 761.031 086.03; ——— CHICAGO PRODUCE. 1 G PRk wean Mo T up. 18a18%2; less tl 4 Lesnorn hens. 1; "oy Rock 24; mxg'm"’!h live, unds 17; al ‘Whi 16; less thllllz: pounds, 'I' | chickens, 14a17: turkeys, 85-'?6: S, 14; Leghiorn roosters, 13; heavy ol ducks. mi/h heavy young. i ducks. | 10%: small " colored,” 10: ter, 13.616; steady: prices un- .896; ; extra firs Py s o fresh gra 150 storase pucked Arste 3t NEW YORK PRODUCE. NEW YORK, July ) —Live It weak” By Fréight; Be 17'36';"‘.]"3 thorns), 17a21; fo frelght prices unchanged. g5, 16.474 . Mized 2 Special’ pack 230: mmq,'!'w hier miied oilors wachangen” ; Ot 2oy SR8 Sarely ateady. erenm- m.hrhlllur Ihlll'“tnl’; 34%a35; eother ‘Cheese, 08,850; steady: unchansed. [ k. of Pay-| B puncture coming home, i | wouldn't feel that way,” Mary replied ie | your breakfast.” Cereal boiled furi- ously on the range, small boys scuttled | about collecting arithmetics and |spellers, while Henry Arnold could be heard i shaving furiously in the bathroom, with occasional sputterings direct- ed at his wife. ! Getting breakfast | was almost auto- matic with Mary Arnold. She moved from range to ta- ble with the swift, sure movements of | long experience. “I hope you are satisfied,” Henry said, coming to the kitchen door, | “what with not getting half enough Mary Arnold 5|sleep last night, and the probability | that I will be late for work, and the boys late for school, I'm sure you ought to be.” “The puncture wasn't my fault,” Mary protested mildly, “and, besides, | there is no necessity of any one's be- | ing late.” | beginning,” Henry harped on. “Just because you used to go to school with this fellow, we had to go clear to Claremont to hear him play. There’s plenty of chances to hear good violin- ists right here in our town without chasing off 100 miles to hear one.” * % X % “JF IT hadn’t been for that wretched | calmly. “We don’t often hear con- certs by world-famous violinists or have invitations to receptions in their honor afterward.” Henry offered no replay, but Henry, Jr., seized the opportunity to air his grievance. “Mother, the teacker said that problem you showed me how to do yesterday was wrong,” he said. “I'll look it over while you are eat- ing breakfast, sonny,” Mary promised, but she had forgotten a prior offer. “You said you would find me a shoe- lace while we are eating,” accused her second son, “and now you are going to correct Junior’s arithmetic.” “I can do both.” Mary was used to | troubled waters. “If that coffee is ready Il take time to swallow & cup of it.” Henry, | sr., offered with the air of one who bestows a favor. “It's ready,” answered his wife imperturbably. “Come on, boys, eat “You needn't fix any for me.” tall girl with-her mother’s brown ack | eyes and fair skin stood in the door- way. “I haven't any classes this ité | morning, so I am going back to bed and snatch ancther nap. I'm simply night, you know.” | “Did you have a nice time last night, 'Jo’;r; ll::: mother asked solicitously. there and I met two or three simply grand ones.” “You forgot the cream, Mary,” Henry interrupted accusingly. “Oh, 0 I did. Run out on the porch and bring it in, Sonny.’ HEvey suhida’ pumblingly rose from his place to comply, but > | “I thought it was foolish from the | you | & dead, and there is another dance to- | nounced with in- terest. ! “Give it here, Junior, this min- | ute,” demanded | his sister. “I can hardly wait to see whom it is from.” “Henry Senior | poured cream into | his coffee. “Some | of those friends of yours would do better to save their | money instead of squandering it on | girls” he com- | mented. | Romance would | never ocease tol I be spelled with a capital R, 1 had overslept. for | Mary. She hovered over her daugh- | ter as interested as though she, too, | were 17. “Oh, how gorgeous,” she | breathed almost involuntarily when | the wrappings disclosed an exquisite ;clusur of purple iris. “I've always | | loved them.” Jean, flushed and lovely, was | searching for the giver's card. “I think | iris are rather an old choice, myself,” | she said absently, “sort of old-fash- | ioned.” Mary, busy now pouring Henry a second cup of coffee, heard Jean draw a quick breath before she exclaimed, “Well, that’s certainly odd—no name |at all—just a couple of lines of a | poem in some other language—Ger- | man, I believe. Mother, you've stu- | died German. See if you can read it.” * o ok x ARY took the card and read slowly, softly, “Du bist wie eine blume, 5o hold und schoen und rein.” “Well, mother, what does it mean? Translate it,” the girl's voice was im- patient. “Oh,” Mary started out of a dream. “Why, let's see. ‘You are like a flow- er, so pure, and beautiful and sweet.” ” “How simply divine! I’ll never rest until I find out who sent it. Oh, I must call Martha and tell her. Per- haps she will know if any of those new boys last night were German or any- thing!” Jean sought the phone while her mother tenderly arranged the flowers in a tall vase. Lingering over them she remembered, as she always did when she saw iris, the proud row of them that bordered her girlhood home. Her reveries were cut short by Junior's whine, “Mother, you havern't found what's wrong with my problem yet,” and Buddy's plaint, “and she hasn’t zot me any shoelaces either.” Henry Senior, pushing back his plate from which he had eaten a very satisfactory breakfast, remarked: “That's the worst of this gadding all over the country at night. It rushes us to death in the morning. Where the deuce did I put my pipe? Mary, ‘The girl suddenly came | boys. today was just meant for 2 You are like a flower, a flower I will never forget.” (Copyrisht, 1936, *Does not include §55,000,000 First Morigage Bonds of The United Electric Light and Power Company, end $1,099,000 matured mortgage bonds of predecessors of the Company, pledged to secure funded debt. PURPOSE OF ISSUE The proceeds from the sale of $30,000,000 Series E Bonds will, it is estimated, aggregate 330,600,000 (exclusive of accrued interest) and will be applied to the redemption on October 1, 1936, at 105% and accrued interest, of $30,000,000 Series A Bonds issued under the First Lien and Refunding Morigage. The balance required for guch redemption plus the Company’s estimated expenses in con- nection with the sale of the Series E Bonds, together aggregaling approximately $1,829,500 (exclusive of accrued interest on the Bonds to be redeemed), will be obtdined from the Company’s current cash. EARNINGS The statements as o earni for 1933, 1934 and 1935 in the Offering Prospectus, subject to the related notes and other important relevant information, indicate that in each of these years the Gross Corporate Income of the Company together with that of its two predecessors available for fixed charges, after deducting provisions for Federal income taxes and for “‘retirement expense’’, was more than three times such fixed charges in each of such years. Reference is made to the Offering Prospectus for @ summary of unaudited Profit and Loss Statements for the three months’ and twelve months’ periods ended March 31, 1935 and 1936; for the three months’ period of 1936 both Gross and Net Corporate Income show reductions from the figures reported for the corresponding period of 1935. The Offering Prospectus also contains consolidated profit and loss statements of Consolidated Edison Company of New York, Inc. SERIES E BONDS New York E The Series E Bonds till be issued under the First Lien and Refunding Mortga ison Company, assumed by the present Company, as ame mented, and, in the opinion of counsel for the Company, will be secured by a lien on distributing systems and franchises and substantially all the real estate, including gene: ple- althe ions, now owned by the Co y, subject to the liens, so far as they attach, of mortgages securing ou $39,343,511.74. The Mortgage is also, in the opinion of counsel, secured by pledge of 555,000,000 First Mortgage Bonds of The United Electric Light and Power Company, one of the Company’s predecessors, and the latter bonds are secured by a first lien on the distributing system and franchises and substantially all the real estate, including generating stations, formerly owned by the United Company as the same existed prior to August 1, 1935. Bonds of Series A and D are now secured by the lien of the Mortgage. The Mortgage permits the issuance of edditional bonds which also would be secured equally thereby. Upon retirement of the Series A Bonds or due provision therefor, a Supplemental Indenture dated February 27, 1936 will amend the ““after acquired property” clause of the Mortgage so that with respect to property acquired by the Company or a successor after February 29, 1936, such clause will subject to the lien of the Mortgage only electrical transmission or distribution lines or systems (but not generating stations) located in the territory now served by the Company’s distribution system. The Mortgage provides for the release, in certain instances, without notice to bondholders of property covered thereby, including the release for cancellation, upon retirement of the outstanding bonds of The New York Gas and Electric Light, Heat and Power Company, of the above $55,000,000 of United Company bonds. The Mortgage contains provisions permitting its modification, in any particular, with the approval of the holders of 75% in amount of outstanding bonds, subject to certain limitations. UNDERWRITING Subject 1, purei o certain terms and conditions, Morgan Stanley & Co. Incorporated has agreed to hase these Bonds from the Company at 100%, or a total of $30,000,000, plus accrued interest and has erranged for the sub-underuwriting of & portion thereof. Such Bonds are to be offered to the public at 102%, or a total of $30,600,000, plus accrued interest. The underwriting discount is 2%, or a total of §600,000. Morgan Stanley & Co. Incorporated ha Price 102% and Accrued Interest ve agreed to purchase these Bonds when, as and if issued, and accepted by them and subject to the approval of their counsel, Messrs. Davis Polk Wardwell Gardiner & Reed. The validity of the franchises and titles of the Company, gmd certain other matters, have been passed upon by counsel for the Company. It is expected that delivery of the Bonds in temporary form, exchangeal ble for definitive Bonds when prepared, will be made at the office of J. P. Morgan §& Co. on er about July 29, 1936, against payment therefor in New York funds. Reference is made to the Offering Prospectus, for the terms and conditions of the underwriting and the offering other things, market or otherwise, either for long or short account, of the Bonds and for a statement regarding sub-underwriting agreements which, among authorize Morgan Stanley & Co. Incorporated to purchase and sell Bonds, in the open for the respective accounts of itself and the sub- underwriters, during the period and within the limits set forth in such agreements. Further information, particularly financial statements, is contained in the Regisiration Statement on fils with the Securities and Exchange Commission, and in the Offering tus which must be Pros furnished to each purchaser and is obtainable from the umfi:iumd. MORGAN STANLEY & CO. Incorperated KUHN, LOEB & CO. BROWN HARRIMAN & CO. Incorperatid : THE FIRST BOSTON CORPORATION BONBRIGHT & COMPANY Incorporstod Dated July 2§, 1956 BLYTH & CO., Inc. LAZARD FRERES & COMPANY Jacorperated EDWARD B. SMITH & CO. LEHMAN BROTHERS CLARK, DODGE & CO.