SEC FILE NO. 70-7926
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CERTIFICATE PURSUANT TO
RULE 24
OF PARTIAL COMPLETION OF
TRANSACTIONS
GENERAL PUBLIC UTILITIES CORPORATION
JERSEY CENTRAL POWER & LIGHT COMPANY
METROPOLITAN EDISON COMPANY
PENNSYLVANIA ELECTRIC COMPANY
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
In the Matter of :
:
General Public Utilities Corporation :
Jersey Central Power & Light Company : Certificate
Metropolitan Edison Company : Pursuant To Rule
Pennsylvania Electric Company : 24 of Partial
: Completion of
File No. 70-7926 : Transactions
:
(Public Utility Holding Company Act of 1935):
:
To the Members of the Securities and Exchange Commission:
The undersigned, General Public Utilities Corporation
("GPU"), Jersey Central Power & Light Company ("JCP&L"),
Metropolitan Edison Company ("Met-Ed") and Pennsylvania Electric
Company ("Penelec"), collectively referred to as the "GPU
Companies", do hereby certify pursuant to Rule 24 of the General
Rules and Regulations under the Public Utility Holding Company
Act of 1935, that certain of the transactions proposed in the
Declaration, as amended, filed in SEC File No. 70-7926, have been
carried out in accordance with the terms and conditions of, and
for the purposes requested in, said Declaration and pursuant to
the Commission's Order, dated March 18, 1992, with respect to
said Declaration, as follows:
1. During the period March 1, 1994 through June 30,
1994, the GPU Companies issued no promissory notes representing
borrowings under the Credit Agreement, dated March 19, 1992,
between the GPU Companies, certain banks parties thereto, and
1
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Chemical Bank and Citibank, N.A., as Co-Agents, and Chemical Bank
as Administrative Agent, and no such borrowings were thus
outstanding thereunder at such date.
2. At the close of business on March 31, 1994, JCP&L,
Met-Ed and Penelec had outstanding unsecured short-term
promissory notes issued as commercial paper as follows:
Company Amount
JCP&L $ 0
Met-Ed 30,000,000
Penelec 42,900,000
3. During the period March 1, 1994 through June 30,
1994, JCP&L, Met-Ed, and Penelec issued and sold (and paid at
maturity where such commercial paper matured on or before
June 30, 1994) unsecured short-term promissory notes as
commercial paper as follows:
JCP&L
Date of Issuance Maturity Date Amount
04/04/94 04/18/94 $25,000,000
04/04/94 04/05/94 30,000,000
04/04/94 04/28/94 20,000,000
04/04/94 04/11/94 30,000,000
04/04/94 04/08/94 20,000,000
04/04/94 04/12/94 5,000,000
04/05/94 05/27/94 15,000,000
04/05/94 05/23/94 15,000,000
04/08/94 06/06/94 21,300,000
04/28/94 06/22/94 16,000,000
04/29/94 06/27/94 10,500,000
05/02/94 05/03/94 25,000,000
05/03/94 06/14/94 27,200,000
05/12/94 07/01/94 6,000,000
05/12/94 07/06/94 20,000,000
05/23/94 05/24/94 31,400,000
2
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Met-Ed
Date of Issuance Maturity Date Amount
04/04/94 05/03/94 $10,000,000
04/14/94 04/29/94 17,500,000
Penelec
Date of Issuance Maturity Date Amount
04/04/94 04/25/94 $ 9,000,000
04/15/94 05/09/94 11,700,000
04/29/94 05/24/94 7,000,000
05/02/94 05/11/94 9,000,000
05/12/94 06/09/94 10,000,000
05/16/94 06/16/94 9,000,000
05/16/94 05/17/94 31,300,000
05/17/94 05/18/94 34,700,000
05/18/94 05/19/94 34,500,000
05/24/94 05/27/94 36,300,000
06/09/94 06/20/94 29,700,000
06/15/94 06/28/94 18,200,000
06/16/94 06/28/94 6,400,000
06/20/94 06/28/94 43,200,000
06/28/94 07/05/94 32,000,000
06/28/94 07/05/94 50,000,000
To summarize the above transactions, at June 30, 1994,
JCP&L, Met-Ed and Penelec had outstanding unsecured short-term
promissory notes issued as commercial paper as follows:
Company Amount
JCP&L $26,000,000
Met-Ed 0
Penelec 82,000,000
4. At the close of business on March 31, 1994, the GPU
Companies had outstanding unsecured short-term promissory notes
representing bank borrowings under informal bank lines, as
follows:
3
<PAGE>
Company Amount
GPU $36,000,000
JCP&L 0
Met-Ed 54,300,000
Penelec 27,000,000
During the period March 31, 1994 through June 30, 1994, the
GPU Companies issued unsecured promissory notes representing bank
borrowings under informal bank lines of credit as follows:
GPU
Issue
Date Bank Amount Maturity
04/04/94 Chemical Bank $10,000,000 05/06/94
04/04/94 Canadian Imperial Bank 20,000,000 08/08/94
04/04/94 Mellon Bank, N.A. 15,000,000 08/05/94
04/04/94 PNC Bank, N.A. 24,400,000 05/09/94
04/04/94 Banca Popolare Di Milano 5,000,000 07/01/94
04/05/94 PNC Bank, N.A. 300,000 04/28/94
04/06/94 First Fidelity Bank, N.A. 600,000 04/21/94
04/14/94 Merchants National Bank 100,000 04/21/94
04/21/94 United States National Bank 5,600,000 10/21/94
04/28/94 Merchants National Bank 300,000 05/12/94
04/29/94 Merchants National Bank 300,000 05/12/94
05/06/94 First Fidelity Bank, N.A. 5,600,000 05/09/94
05/06/94 United States National Bank 4,400,000 11/07/94
05/09/94 Chemical Bank 10,000,000 07/11/94
05/09/94 Union Bank of Switzerland 9,300,000 07/08/94
05/09/94 Chase Manhattan Bank 10,800,000 05/10/94
05/10/94 PNC Bank, N.A. 11,000,000 11/10/94
05/12/94 Morgan Guaranty Trust 8,800,000 10/13/94
05/13/94 Merchants National Bank 200,000 05/18/94
05/18/94 United Jersey Bank 4,900,000 11/17/94
05/18/94 Union Bank of Switzerland 5,400,000 11/17/94
05/25/94 National Community Bank 6,800,000 06/30/94
06/30/94 First Fidelity Bank, N.A. 6,400,000 07/01/94
JCP&L
Issue
Date Bank Amount Maturity
04/04/94 United States National Bank $ 7,100,000 04/07/94
04/04/94 First Fidelity Bank, N.A. 17,100,000 04/05/94
4
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04/04/94 Bank of New York 25,000,000 05/09/94
5
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JCP&L (cont.)
Issue
Date Bank Amount Maturity
04/04/94 Morgan Guaranty Trust 25,000,000 04/18/94
04/04/94 Mellon Bank, N.A. 20,000,000 05/16/94
04/04/94 Citibank, N.A. 15,000,000 04/25/94
04/04/94 Chase Manhattan Bank 25,000,000 05/16/94
04/05/94 First Fidelity Bank, N.A. 10,200,000 04/06/94
04/06/94 First Fidelity Bank, N.A. 3,700,000 04/12/94
04/07/94 First Fidelity Bank, N.A. 7,600,000 04/08/94
04/11/94 First Fidelity Bank, N.A. 19,100,000 04/12/94
04/12/94 First Fidelity Bank, N.A. 25,400,000 04/13/94
04/12/94 First Fidelity Bank, N.A. 2,600,000 04/13/94
04/13/94 First Fidelity Bank, N.A. 12,600,000 04/14/94
04/13/94 Mellon Bank, N.A. 10,000,000 04/19/94
04/14/94 First Fidelity Bank, N.A. 6,600,000 04/21/94
04/15/94 First Fidelity Bank, N.A. 7,300,000 04/22/94
04/18/94 Morgan Guaranty Trust 35,000,000 05/13/94
04/18/94 PNC Bank, N.A. 8,100,000 04/26/94
04/19/94 Mellon Bank, N.A. 5,900,000 05/03/94
04/20/94 First Fidelity Bank, N.A. 3,100,000 04/21/94
04/21/94 First Fidelity Bank, N.A. 4,600,000 04/27/94
04/22/94 First Fidelity Bank, N.A. 2,000,000 05/06/94
04/25/94 First Fidelity Bank, N.A. 6,400,000 05/10/94
04/26/94 United Jersey Bank, N.A. 4,900,000 05/17/94
05/04/94 Chemical Bank New Jersey 4,300,000 05/11/94
05/04/94 Chase Manhattan Bank 10,100,000 05/05/94
05/05/94 Chase Manhattan Bank 10,000,000 05/06/94
05/06/94 PNC Bank, N.A. 8,300,000 05/10/94
05/09/94 First Fidelity Bank, N.A. 11,600,000 05/10/94
05/09/94 Bank of New York 6,000,000 05/10/94
05/10/94 Union Bank of Switzerland 500,000 05/11/94
05/10/94 First Fidelity Bank, N.A. 7,700,000 05/11/94
05/10/94 PNC Bank, N.A. 4,000,000 05/11/94
05/10/94 Bank of New York 2,000,000 05/11/94
05/10/94 First Fidelity Bank, N.A. 14,600,000 05/11/94
05/11/94 Citibank, N.A. 7,200,000 05/12/94
05/11/94 First Fidelity Bank, N.A. 21,800,000 05/12/94
05/13/94 Morgan Guaranty Trust 31,900,000 06/10/94
05/16/94 Mellon Bank, N.A. 30,000,000 05/17/94
05/16/94 Bank of New York 4,500,000 05/17/94
05/16/94 Chase Manhattan Bank 6,900,000 05/17/94
05/17/94 Citibank, N.A. 7,800,000 05/19/94
05/17/94 National Community Bank 7,000,000 05/18/94
05/17/94 Swiss Bank Corporation 10,000,000 05/18/94
05/17/94 Mellon Bank, N.A. 16,400,000 05/18/94
05/18/94 First Fidelity Bank, N.A. 5,000,000 05/20/94
05/18/94 Union Bank of Switzerland 25,000,000 05/19/94
05/19/94 First Fidelity Bank, N.A. 21,000,000 05/20/94
05/19/94 Citibank, N.A. 6,400,000 05/20/94
05/20/94 Chemical Bank New Jersey 5,400,000 05/26/94
05/20/94 First Fidelity Bank, N.A. 26,000,000 05/23/94
05/24/94 National Community Bank 2,600,000 05/25/94
05/24/94 Mellon Bank, N.A. 30,000,000 07/25/94
6
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JCP&L (cont'd)
Issue
Date Bank Amount Maturity
05/25/94 Bank of New York 22,900,000 05/27/94
05/25/94 First Fidelity Bank, N.A. 5,900,000 05/26/94
05/26/94 Morgan Guaranty Trust 7,900,000 06/02/94
05/27/94 Chase Manhattan Bank 3,600,000 06/03/94
05/27/94 First Fidelity Bank, N.A. 20,000,000 05/31/94
05/27/94 United Jersey Bank, N.A. 10,100,000 05/31/94
05/31/94 First Fidelity Bank, N.A. 3,300,000 06/07/94
06/01/94 Chase Manhattan Bank 13,400,000 07/18/94
06/01/94 Banca Popolare Di Milano 10,000,000 08/29/94
06/02/94 Bank of New York 4,800,000 06/03/94
06/03/94 Citibank, N.A. 3,300,000 06/08/94
06/06/94 Bank of New York 11,000,000 08/08/94
06/06/94 Chase Manhattan Bank 14,000,000 09/08/94
06/06/94 Citibank, N.A. 3,400,000 06/09/94
06/07/94 First Fidelity Bank, N.A. 3,100,000 06/08/94
06/08/94 First Fidelity Bank, N.A. 6,000,000 06/09/94
06/09/94 First Fidelity Bank, N.A. 4,800,000 06/16/94
06/10/94 Bank of New York 4,400,000 06/13/94
06/10/94 First Fidelity Bank, N.A. 3,800,000 06/13/94
06/10/94 First Fidelity Bank, N.A. 20,000,000 09/12/94
06/13/94 First Fidelity Bank, N.A. 1,200,000 06/20/94
06/14/94 United Jersey Bank, N.A. 10,100,000 07/13/94
06/14/94 Citibank, N.A. 10,600,000 06/21/94
06/14/94 PNC Bank, N.A. 4,000,000 07/28/94
06/15/94 Bank of New York 8,600,000 06/17/94
06/15/94 Chase Manhattan Bank 4,900,000 06/20/94
06/16/94 First Fidelity Bank, N.A. 4,300,000 06/23/94
06/17/94 Bank of New York 4,100,000 06/20/94
06/20/94 Bank of New York 6,400,000 06/29/94
06/21/94 Chemical Bank New Jersey 5,700,000 06/28/94
06/22/94 First Fidelity Bank, N.A. 5,000,000 07/07/94
06/22/94 Chase Manhattan Bank 5,000,000 06/24/94
06/27/94 First Fidelity Bank, N.A. 2,300,000 07/07/94
06/28/94 Swiss Bank Corporation 2,800,000 06/29/94
06/29/94 PNC Bank, N.A. 7,500,000 08/12/94
06/30/94 Chemical Bank New Jersey 2,100,000 07/20/94
Met-Ed
Issue
Date Bank Amount Maturity
04/01/94 First Fidelity Bank, N.A. $ 9,400,000 04/04/94
04/04/94 First Fidelity Bank, N.A. 5,300,000 04/06/94
04/05/94 First Fidelity Bank, N.A. 4,500,000 04/08/94
04/06/94 First Fidelity Bank, N.A. 2,900,000 04/07/94
04/07/94 Chemical Bank New Jersey 1,000,000 04/13/94
04/08/94 Merchants National Bank 900,000 04/12/94
04/11/94 First Fidelity Bank, N.A. 2,900,000 04/21/94
04/11/94 PNC Bank, N.A. 5,000,000 04/12/94
04/12/94 Bank of Pennsylvania 3,800,000 04/26/94
7
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Met-Ed (cont'd)
Issue
Date Bank Amount Maturity
04/13/94 Chemical Bank New Jersey 1,100,000 04/22/94
04/15/94 United Jersey Bank, N.A. 7,700,000 05/02/94
04/15/94 First Fidelity Bank, N.A. 6,000,000 04/22/94
04/18/94 United Jersey Bank, N.A. 5,900,000 04/26/94
04/19/94 First Fidelity Bank, N.A. 4,100,000 04/28/94
04/20/94 Midlantic National Bank 4,400,000 05/09/94
04/20/94 Midlantic National Bank 5,000,000 05/05/94
04/21/94 First Fidelity Bank, N.A. 600,000 04/22/94
04/22/94 First Fidelity Bank, N.A. 6,000,000 05/06/94
04/25/94 Morgan Guaranty Trust 7,300,000 05/10/94
04/26/94 First Fidelity Bank, N.A. 7,200,000 05/11/94
04/27/94 First Fidelity Bank, N.A. 3,500,000 05/04/94
04/28/94 First Fidelity Bank, N.A. 2,600,000 05/12/94
04/29/94 National Community Bank 7,000,000 05/02/94
04/29/94 First Fidelity Bank, N.A. 3,100,000 05/02/94
04/29/94 First Fidelity Bank, N.A. 12,300,000 05/17/94
05/02/94 Union Bank of Switzerland 7,600,000 05/09/94
05/02/94 First Fidelity Bank, N.A. 3,100,000 05/09/94
05/02/94 Chemical Bank New Jersey 1,800,000 05/09/94
05/02/94 United Jersey Bank, N.A. 10,100,000 05/27/94
05/03/94 Morgan Guaranty Trust 7,200,000 05/12/94
05/03/94 Mellon Bank, N.A. 5,900,000 05/10/94
05/03/94 Chemical Bank New Jersey 2,100,000 05/04/94
05/04/94 First Fidelity Bank, N.A. 3,000,000 05/10/94
05/05/94 Midlantic National Bank 3,900,000 05/10/94
05/06/94 PNC Bank, N.A. 4,700,000 05/10/94
05/09/94 Swiss Bank Corporation 10,000,000 05/10/94
05/09/94 Midlantic National Bank 6,000,000 05/10/94
05/10/94 Mellon Bank, N.A. 10,000,000 05/11/94
05/10/94 Swiss Bank Corporation 9,600,000 05/11/94
05/10/94 Hamilton Bank 10,000,000 05/11/94
05/10/94 Midlantic National Bank 10,000,000 05/11/94
05/11/94 First Fidelity Bank, N.A. 7,700,000 05/12/94
05/11/94 Swiss Bank Corporation 10,000,000 05/12/94
05/11/94 PNC Bank, N.A. 4,000,000 05/12/94
05/11/94 Chemical Bank New Jersey 6,100,000 05/12/94
05/11/94 National Community Bank 7,000,000 05/12/94
05/11/94 Midlantic National Bank 10,000,000 05/12/94
05/12/94 First Fidelity Bank, N.A. 7,700,000 05/13/94
05/12/94 First Fidelity Bank, N.A. 24,400,000 05/13/94
05/12/94 Bank of New York 20,700,000 05/13/94
05/13/94 Bank of New York 21,600,000 05/16/94
05/13/94 First Fidelity Bank, N.A. 24,400,000 05/16/94
05/13/94 First Fidelity Bank, N.A. 7,700,000 05/16/94
05/13/94 Citibank, N.A. 7,200,000 05/16/94
05/16/94 Bank of New York 20,500,000 05/17/94
05/16/94 First Fidelity Bank, N.A. 24,400,000 05/17/94
05/16/94 First Fidelity Bank, N.A. 7,700,000 05/17/94
05/16/94 Citibank, N.A. 7,200,000 05/23/94
05/17/94 Bank of New York 25,000,000 05/18/94
8
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Met-Ed (cont'd)
Issue
Date Bank Amount Maturity
05/17/94 Mellon Bank, N.A. 4,200,000 05/18/94
05/17/94 Chemical Bank New Jersey 5,000,000 05/19/94
05/17/94 United Jersey Bank, N.A. 4,900,000 05/18/94
05/17/94 First Fidelity Bank, N.A. 24,400,000 05/18/94
05/18/94 Mellon Bank, N.A. 30,000,000 05/19/94
05/18/94 First Fidelity Bank, N.A. 2,500,000 05/19/94
05/18/94 First Fidelity Bank, N.A. 21,000,000 05/19/94
05/18/94 First Fidelity Bank, N.A. 5,000,000 05/20/94
05/19/94 Swiss Bank Corporation 10,000,000 05/20/94
05/19/94 First Fidelity Bank, N.A. 15,000,000 05/20/94
05/19/94 Bank of New York 25,000,000 05/20/94
05/19/94 National Community Bank 7,000,000 05/24/94
05/20/94 Banca Popolare Di Milano 10,000,000 05/23/94
05/20/94 Bank of New York 25,000,000 05/23/94
05/20/94 First Fidelity Bank, N.A. 20,000,000 05/23/94
05/20/94 Chase Manhattan Bank 1,700,000 05/25/94
05/23/94 First Fidelity Bank, N.A. 5,900,000 05/25/94
05/23/94 First Fidelity Bank, N.A. 19,100,000 05/24/94
05/23/94 Bank of New York 4,900,000 05/24/94
05/23/94 First Fidelity Bank, N.A. 20,000,000 05/24/94
05/23/94 Swiss Bank Corporation 10,000,000 05/24/94
05/24/94 First Fidelity Bank, N.A. 20,100,000 05/27/94
05/24/94 Chase Manhattan Bank 6,400,000 05/31/94
05/24/94 Chase Manhattan Bank 10,000,000 05/26/94
05/24/94 First Fidelity Bank, N.A. 20,000,000 05/27/94
05/25/94 Citibank, N.A. 7,400,000 06/03/94
05/26/94 Banca Popolare Di Milano 9,000,000 05/27/94
05/27/94 First Fidelity Bank, N.A. 26,000,000 05/31/94
05/27/94 Chase Manhattan Bank 7,700,000 06/01/94
05/27/94 Morgan Guaranty Trust 14,000,000 05/31/94
05/27/94 Banca Popolare Di Milano 10,000,000 05/31/94
05/31/94 First Fidelity Bank, N.A. 3,500,000 06/06/94
06/01/94 First Fidelity Bank, N.A. 8,400,000 06/07/94
06/01/94 First Fidelity Bank, N.A. 10,800,000 06/13/94
06/01/94 First Fidelity Bank, N.A. 1,600,000 06/07/94
06/02/94 Citibank, N.A. 4,000,000 06/09/94
06/03/94 Bank of New York 7,500,000 06/14/94
06/07/94 First Fidelity Bank, N.A. 5,100,000 06/16/94
06/07/94 First Fidelity Bank, N.A. 5,000,000 06/08/94
06/08/94 First Fidelity Bank, N.A. 4,100,000 06/09/94
06/08/94 First Fidelity Bank, N.A. 1,400,000 06/09/94
06/09/94 Midlantic National Bank 4,500,000 06/17/94
06/09/94 First Fidelity Bank, N.A. 4,000,000 06/10/94
06/10/94 First Fidelity Bank, N.A. 1,200,000 06/14/94
06/13/94 First Fidelity Bank, N.A. 8,000,000 06/21/94
06/14/94 Chase Manhattan Bank 6,100,000 06/24/94
06/14/94 First Fidelity Bank, N.A. 3,300,000 06/28/94
06/15/94 Midlantic National Bank 5,500,000 06/27/94
06/15/94 Morgan Guaranty Trust 7,600,000 06/20/94
06/15/94 Citibank, N.A. 2,800,000 06/28/94
06/16/94 First Fidelity Bank, N.A. 5,000,000 06/22/94
9
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Met-Ed (cont'd)
Issue
Date Bank Amount Maturity
06/17/94 Bank of New York 2,900,000 06/20/94
06/20/94 Midlantic National Bank 4,500,000 07/08/94
06/20/94 Bank of New York 5,200,000 07/06/94
06/21/94 First Fidelity Bank, N.A. 5,800,000 06/22/94
06/22/94 PNC Bank, N.A. 10,100,000 07/11/94
06/23/94 First Fidelity Bank, N.A. 3,000,000 07/05/94
06/24/94 First Fidelity Bank, N.A. 5,500,000 07/12/94
06/27/94 Midlantic National Bank 1,200,000 06/29/94
06/28/94 First Fidelity Bank, N.A. 5,700,000 06/29/94
06/29/94 Bank of Pennsylvania 5,100,000 07/07/94
06/30/94 Chemical Bank New Jersey 900,000 07/13/94
Penelec
Issue
Date Bank Amount Maturity
04/01/94 First Fidelity Bank, N.A. $ 7,800,000 04/04/94
04/04/94 First Fidelity Bank, N.A. 1,600,000 04/07/94
04/05/94 Swiss Bank Corporation 7,500,000 04/12/94
04/05/94 First Fidelity Bank, N.A. 3,000,000 04/07/94
04/12/94 National Community Bank 4,400,000 04/13/94
04/12/94 Mellon Bank, N.A. 10,000,000 04/13/94
04/13/94 First Fidelity Bank, N.A. 12,700,000 04/19/94
04/14/94 Swiss Bank Corporation 3,600,000 05/04/94
04/15/94 National Community Bank 7,000,000 04/18/94
04/18/94 Swiss Bank Corporation 4,300,000 04/21/94
04/19/94 Mellon Bank, N.A. 4,100,000 05/10/94
04/19/94 First Fidelity Bank, N.A. 4,400,000 04/26/94
04/20/94 First Fidelity Bank, N.A. 6,600,000 04/28/94
04/20/94 Union Bank of Switzerland 2,700,000 04/22/94
04/21/94 National Community Bank 3,800,000 04/22/94
04/22/94 Swiss Bank Corporation 4,900,000 05/03/94
04/25/94 Morgan Guaranty Trust 3,600,000 05/12/94
04/26/94 First Fidelity Bank, N.A. 1,600,000 05/18/94
04/27/94 Citibank, N.A. 7,800,000 05/17/94
04/28/94 Citibank, N.A. 6,900,000 05/10/94
05/02/94 Union Bank of Switzerland 5,000,000 05/05/94
05/03/94 Swiss Bank Corporation 4,100,000 05/09/94
05/04/94 Swiss Bank Corporation 2,000,000 05/06/94
05/05/94 Union Bank of Switzerland 5,700,000 05/10/94
05/06/94 National Community Bank 3,300,000 05/10/94
05/09/94 Bank of New York 12,800,000 05/10/94
05/10/94 National Community Bank 7,000,000 05/11/94
05/10/94 Bank of New York 23,000,000 05/11/94
05/11/94 Mellon Bank, N.A. 10,000,000 05/12/94
05/11/94 Bank of New York 25,000,000 05/12/94
05/11/94 Union Bank of Switzerland 1,700,000 05/12/94
05/12/94 Swiss Bank Corporation 10,000,000 05/13/94
05/12/94 Mellon Bank, N.A. 9,700,000 05/13/94
10
<PAGE>
Penelec (cont'd)
Issue
Date Bank Amount Maturity
05/12/94 Bank of New York 4,300,000 05/13/94
05/12/94 National Community Bank 7,000,000 05/13/94
05/13/94 Swiss Bank Corporation 9,900,000 05/16/94
05/13/94 Mellon Bank, N.A. 10,000,000 05/16/94
05/13/94 National Community Bank 7,000,000 05/16/94
05/13/94 Bank of New York 3,400,000 05/16/94
05/19/94 Mellon Bank, N.A. 30,000,000 05/20/94
05/19/94 Banca Popolare Di Milano 2,800,000 05/20/94
05/20/94 Swiss Bank Corporation 3,500,000 05/23/94
05/20/94 Mellon Bank, N.A. 30,000,000 05/23/94
05/23/94 First Fidelity Bank, N.A. 1,000,000 05/24/94
05/23/94 Mellon Bank, N.A. 30,000,000 05/24/94
05/25/94 Swiss Bank Corporation 9,400,000 06/02/94
05/25/94 Citibank, N.A. 7,600,000 06/02/94
05/26/94 Chemical Bank New Jersey 6,000,000 06/21/94
05/27/94 Bank of New York 25,000,000 05/31/94
05/27/94 Chase Manhattan Bank 9,000,000 06/01/94
05/31/94 First Fidelity Bank, N.A. 8,800,000 06/01/94
05/31/94 United Jersey Bank, N.A. 10,100,000 06/01/94
05/31/94 First Fidelity Bank, N.A. 19,200,000 06/01/94
06/01/94 United Jersey Bank, N.A. 5,300,000 06/09/94
06/01/94 First Fidelity Bank, N.A. 18,400,000 06/09/94
06/02/94 Bank of New York 11,100,000 06/03/94
06/02/94 Swiss Bank Corporation 10,000,000 06/20/94
06/03/94 Bank of New York 6,000,000 06/06/94
06/03/94 Morgan Guaranty Trust 5,800,000 06/20/94
06/06/94 First Fidelity Bank, N.A. 1,000,000 06/07/94
06/07/94 First Fidelity Bank, N.A. 1,000,000 06/08/94
06/08/94 Merchants National Bank 700,000 06/09/94
06/09/94 First Fidelity Bank, N.A. 800,000 06/10/94
06/09/94 First Fidelity Bank, N.A. 1,200,000 06/10/94
06/10/94 First Fidelity Bank, N.A. 300,000 06/13/94
06/13/94 Bank of New York 5,000,000 06/14/94
06/13/94 First Fidelity Bank, N.A. 3,600,000 06/28/94
06/14/94 Citibank, N.A. 1,600,000 06/22/94
06/16/94 Bank of New York 2,000,000 06/17/94
06/17/94 First Fidelity Bank, N.A. 600,000 06/20/94
06/20/94 Swiss Bank Corporation 10,000,000 06/28/94
06/21/94 First Fidelity Bank, N.A. 2,400,000 06/22/94
06/22/94 First Fidelity Bank, N.A. 3,500,000 06/23/94
06/23/94 First Fidelity Bank, N.A. 3,000,000 06/24/94
06/24/94 First Fidelity Bank, N.A. 2,700,000 06/30/94
06/29/94 Bank of Pennsylvania 4,000,000 07/05/94
06/30/94 First Fidelity Bank, N.A. 2,600,000 07/01/94
Each such unsecured promissory note bears interest at a rate
(after giving effect to any fees or compensating balance
11
<PAGE>
requirements) not exceeding 125% of the lending bank's prime rate
for commercial borrowings, as in effect at the date of borrowing.
During the period of March 31, 1994 through June 30, 1994,
the Companies repaid unsecured promissory notes issued to banks,
as follows:
GPU
Date Bank Amount
04/21/94 PNC Bank, N.A $ 4,900,000
04/21/94 First Fidelity Bank, N.A. 600,000
04/21/94 Merchants National Bank 100,000
04/28/94 PNC Bank, N.A. 300,000
05/06/94 Chemical Bank 10,000,000
05/09/94 First Fidelity Bank, N.A. 5,600,000
05/09/94 PNC Bank, N.A. 24,400,000
05/10/94 Chase Manhattan Bank 10,800,000
05/12/94 Merchants National Bank 300,000
05/12/94 Merchants National Bank 300,000
05/12/94 PNC Bank, N.A. 8,500,000
05/18/94 Merchants National Bank 200,000
05/18/94 Banca Popolare Di Milano 10,000,000
06/30/94 National Community Bank 6,800,000
JCP&L
Date Bank Amount
04/05/94 First Fidelity Bank, N.A. $17,100,000
04/06/94 First Fidelity Bank, N.A. 10,200,000
04/07/94 United States National Bank 7,100,000
04/08/94 First Fidelity Bank, N.A. 7,600,000
04/12/94 First Fidelity Bank, N.A. 19,100,000
04/12/94 First Fidelity Bank, N.A. 3,700,000
04/13/94 First Fidelity Bank, N.A. 2,600,000
04/13/94 First Fidelity Bank, N.A. 25,400,000
04/14/94 First Fidelity Bank, N.A. 12,600,000
04/18/94 Morgan Guaranty Trust 25,000,000
04/19/94 Mellon Bank, N.A. 10,000,000
04/21/94 First Fidelity Bank, N.A. 3,100,000
04/21/94 First Fidelity Bank, N.A. 6,600,000
04/22/94 First Fidelity Bank, N.A. 7,300,000
04/25/94 Citibank, N.A. 15,000,000
04/26/94 PNC Bank, N.A. 8,100,000
04/27/94 First Fidelity Bank, N.A. 4,600,000
05/03/94 Mellon Bank, N.A. 5,900,000
05/05/94 Chase Manhattan Bank 10,100,000
05/06/94 First Fidelity Bank, N.A. 2,000,000
05/06/94 Chase Manhattan Bank 10,000,000
05/09/94 Bank of New York 25,000,000
12
<PAGE>
JCP&L (cont'd)
Date Bank Amount
05/10/94 PNC Bank, N.A. 8,300,000
05/10/94 Bank of New York 6,000,000
05/10/94 First Fidelity Bank, N.A. 11,600,000
05/10/94 First Fidelity Bank, N.A. 6,400,000
05/11/94 PNC Bank, N.A. 4,000,000
05/11/94 Union Bank of Switzerland 500,000
05/11/94 First Fidelity Bank, N.A. 7,700,000
05/11/94 Chemical Bank New Jersey 4,300,000
05/11/94 Bank of New York 2,000,000
05/11/94 First Fidelity Bank, N.A. 14,600,000
05/12/94 Citibank, N.A. 7,200,000
05/12/94 First Fidelity Bank, N.A. 21,800,000
05/13/94 Morgan Guaranty Trust 35,000,000
05/16/94 Chase Manhattan Bank 25,000,000
05/16/94 Mellon Bank, N.A. 20,000,000
05/17/94 Bank of New York 4,500,000
05/17/94 United Jersey Bank, N.A. 4,900,000
05/17/94 Chase Manhattan Bank 6,900,000
05/17/94 Mellon Bank, N.A. 30,000,000
05/18/94 National Community Bank 7,000,000
05/18/94 Mellon Bank, N.A. 16,400,000
05/18/94 Swiss Bank Corporation 10,000,000
05/19/94 Union Bank of Switzerland 25,000,000
05/19/94 Citibank, N.A. 7,800,000
05/20/94 Citibank, N.A. 6,400,000
05/20/94 First Fidelity Bank, N.A. 5,000,000
05/20/94 First Fidelity Bank, N.A. 21,000,000
05/23/94 First Fidelity Bank, N.A. 26,000,000
05/25/94 National Community Bank 2,600,000
05/26/94 First Fidelity Bank, N.A. 5,900,000
05/26/94 Chemical Bank New Jersey 5,400,000
05/27/94 Bank of New York 22,900,000
05/31/94 First Fidelity Bank, N.A. 20,000,000
05/31/94 United Jersey Bank, N.A. 10,100,000
06/02/94 Morgan Guaranty Trust 7,900,000
06/03/94 Bank of New York 4,800,000
06/03/94 Chase Manhattan Bank 3,600,000
06/07/94 First Fidelity Bank, N.A. 3,300,000
06/08/94 Citibank, N.A. 3,300,000
06/08/94 First Fidelity Bank, N.A. 3,100,000
06/09/94 First Fidelity Bank, N.A. 6,000,000
06/09/94 Citibank, N.A. 3,400,000
06/10/94 Morgan Guaranty Trust 31,900,000
06/13/94 First Fidelity Bank, N.A. 3,800,000
06/13/94 Bank of New York 4,400,000
06/16/94 First Fidelity Bank, N.A. 4,800,000
06/17/94 Bank of New York 8,600,000
06/20/94 First Fidelity Bank, N.A. 1,200,000
06/20/94 Chase Manhattan Bank 4,900,000
06/20/94 Bank of New York 4,100,000
06/21/94 Citibank, N.A. 10,600,000
06/23/94 First Fidelity Bank, N.A. 4,300,000
13
<PAGE>
JCP&L (cont'd)
Date Bank Amount
06/24/94 Chase Manhattan Bank 5,000,000
06/28/94 Chemical Bank New Jersey 5,700,000
06/29/94 Bank of New York 6,400,000
06/29/94 Swiss Bank Corporation 2,800,000
Met-Ed
Date Bank Amount
04/04/94 First Fidelity Bank, N.A. $ 9,400,000
04/04/94 First Fidelity Bank, N.A. 3,900,000
04/05/94 First Fidelity Bank, N.A. 8,700,000
04/06/94 First Fidelity Bank, N.A. 5,300,000
04/07/94 First Fidelity Bank, N.A. 2,900,000
04/08/94 First Fidelity Bank, N.A. 4,500,000
04/11/94 PNC Bank, N.A. 9,500,000
04/12/94 PNC Bank, N.A. 5,000,000
04/12/94 Merchants National Bank 900,000
04/13/94 Chemical Bank New Jersey 1,000,000
04/18/94 Midlantic National Bank 7,100,000
04/19/94 First Fidelity Bank, N.A. 6,600,000
04/21/94 First Fidelity Bank, N.A. 2,900,000
04/22/94 Chemical Bank New Jersey 1,100,000
04/22/94 First Fidelity Bank, N.A. 6,000,000
04/22/94 First Fidelity Bank, N.A. 600,000
04/25/94 Morgan Guaranty Trust 11,000,000
04/26/94 United Jersey Bank, N.A. 5,900,000
04/26/94 Bank of Pennsylvania 3,800,000
04/27/94 First Fidelity Bank, N.A. 3,200,000
04/28/94 First Fidelity Bank, N.A. 4,100,000
05/02/94 National Community Bank 7,000,000
05/02/94 United Jersey Bank, N.A. 7,700,000
05/02/94 First Fidelity Bank, N.A. 3,100,000
05/03/94 Chemical Bank New Jersey 4,300,000
05/04/94 First Fidelity Bank, N.A. 3,500,000
05/04/94 Chemical Bank New Jersey 2,100,000
05/05/94 Midlantic National Bank 5,000,000
05/06/94 First Fidelity Bank, N.A. 6,000,000
05/09/94 First Fidelity Bank, N.A. 3,100,000
05/09/94 Union Bank of Switzerland 7,600,000
05/09/94 Midlantic National Bank 4,400,000
05/09/94 Chemical Bank New Jersey 1,800,000
05/10/94 Swiss Bank Corporation 10,000,000
05/10/94 First Fidelity Bank, N.A. 3,000,000
05/10/94 Mellon Bank, N.A. 5,900,000
05/10/94 Morgan Guaranty Trust 7,300,000
05/10/94 Midlantic National Bank 6,000,000
05/10/94 PNC Bank, N.A. 4,700,000
05/10/94 Midlantic National Bank 3,900,000
05/11/94 Swiss Bank Corporation 9,600,000
05/11/94 Mellon Bank, N.A. 10,000,000
14
<PAGE>
Met-Ed (cont'd)
Date Bank Amount
05/11/94 First Fidelity Bank, N.A. 7,200,000
05/11/94 Midlantic National Bank 10,000,000
05/11/94 Hamilton Bank 10,000,000
05/12/94 Swiss Bank Corporation 10,000,000
05/12/94 Chemical Bank New Jersey 6,100,000
05/12/94 National Community Bank 7,000,000
05/12/94 First Fidelity Bank, N.A. 7,700,000
05/12/94 PNC Bank, N.A. 4,000,000
05/12/94 First Fidelity Bank, N.A. 2,600,000
05/12/94 Midlantic National Bank 10,000,000
05/12/94 Morgan Guaranty Trust 7,200,000
05/13/94 First Fidelity Bank, N.A. 7,700,000
05/13/94 First Fidelity Bank, N.A. 24,400,000
05/13/94 Bank of New York 20,700,000
05/16/94 First Fidelity Bank, N.A. 24,400,000
05/16/94 Bank of New York 21,600,000
05/16/94 Citibank, N.A. 7,200,000
05/16/94 First Fidelity Bank, N.A. 7,700,000
05/17/94 Bank of New York 20,500,000
05/17/94 First Fidelity Bank, N.A. 7,700,000
05/17/94 First Fidelity Bank, N.A. 12,300,000
05/17/94 First Fidelity Bank, N.A. 24,400,000
05/18/94 United Jersey Bank, N.A. 4,900,000
05/18/94 Mellon Bank, N.A. 4,200,000
05/18/94 First Fidelity Bank, N.A. 24,400,000
05/18/94 Bank of New York 25,000,000
05/19/94 Mellon Bank, N.A. 30,000,000
05/19/94 First Fidelity Bank, N.A. 21,000,000
05/19/94 Chemical Bank New Jersey 5,000,000
05/19/94 First Fidelity Bank, N.A. 2,500,000
05/20/94 Bank of New York 25,000,000
05/20/94 Swiss Bank Corporation 10,000,000
05/20/94 First Fidelity Bank, N.A. 15,000,000
05/20/94 First Fidelity Bank, N.A. 5,000,000
05/23/94 Bank of New York 25,000,000
05/23/94 Banca Popolare Di Milano 10,000,000
05/23/94 Citibank, N.A. 7,200,000
05/23/94 First Fidelity Bank, N.A. 20,000,000
05/24/94 First Fidelity Bank, N.A. 20,000,000
05/24/94 Bank of New York 4,900,000
05/24/94 First Fidelity Bank, N.A. 19,100,000
05/24/94 Swiss Bank Corporation 10,000,000
05/24/94 National Community Bank 7,000,000
05/25/94 Chase Manhattan Bank 1,700,000
05/25/94 First Fidelity Bank, N.A. 5,900,000
05/26/94 Chase Manhattan Bank 10,000,000
05/27/94 United Jersey Bank, N.A. 10,100,000
05/27/94 First Fidelity Bank, N.A. 20,100,000
05/27/94 First Fidelity Bank, N.A. 20,000,000
05/27/94 Banca Popolare Di Milano 9,000,000
05/31/94 Banca Popolare Di Milano 10,000,000
05/31/94 Morgan Guaranty Trust 14,000,000
15
<PAGE>
Met-Ed (cont'd)
Date Bank Amount
05/31/94 Chase Manhattan Bank 6,400,000
05/31/94 First Fidelity Bank, N.A. 26,000,000
06/01/94 Chase Manhattan Bank 7,700,000
06/03/94 Citibank, N.A. 7,400,000
06/06/94 First Fidelity Bank, N.A. 3,500,000
06/07/94 First Fidelity Bank, N.A. 1,600,000
06/07/94 First Fidelity Bank, N.A. 8,400,000
06/08/94 First Fidelity Bank, N.A. 5,000,000
06/09/94 Citibank, N.A. 4,000,000
06/09/94 First Fidelity Bank, N.A. 4,100,000
06/09/94 First Fidelity Bank, N.A. 1,400,000
06/10/94 First Fidelity Bank, N.A. 4,000,000
06/13/94 First Fidelity Bank, N.A. 10,800,000
06/14/94 First Fidelity Bank, N.A. 1,200,000
06/14/94 Bank of New York 7,500,000
06/16/94 First Fidelity Bank, N.A. 5,100,000
06/17/94 Midlantic National Bank 4,500,000
06/20/94 Morgan Guaranty Trust 7,600,000
06/20/94 Bank of New York 2,900,000
06/21/94 First Fidelity Bank, N.A. 8,000,000
06/22/94 First Fidelity Bank, N.A. 5,000,000
06/22/94 First Fidelity Bank, N.A. 5,800,000
06/24/94 Chase Manhattan Bank 6,100,000
06/27/94 Midlantic National Bank 5,500,000
06/28/94 Citibank, N.A. 2,800,000
06/28/94 First Fidelity Bank, N.A. 3,300,000
06/29/94 First Fidelity Bank, N.A. 5,700,000
06/29/94 Midlantic National Bank 1,200,000
Penelec
Date Bank Amount
04/04/94 First Fidelity Bank, N.A. $ 7,800,000
04/05/94 Swiss Bank Corporation 10,000,000
04/06/94 First Fidelity Bank, N.A. 2,000,000
04/07/94 First Fidelity Bank, N.A. 1,600,000
04/07/94 First Fidelity Bank, N.A. 3,000,000
04/12/94 Mellon Bank, N.A. 10,000,000
04/12/94 Swiss Bank Corporation 7,500,000
04/13/94 National Community Bank 4,400,000
04/13/94 Mellon Bank, N.A. 10,000,000
04/14/94 Morgan Guaranty Trust 5,000,000
04/18/94 National Community Bank 7,000,000
04/19/94 First Fidelity Bank, N.A. 12,700,000
04/21/94 Swiss Bank Corporation 4,300,000
04/22/94 National Community Bank 3,800,000
04/22/94 Union Bank of Switzerland 2,700,000
04/26/94 First Fidelity Bank, N.A. 4,400,000
04/28/94 First Fidelity Bank, N.A. 6,600,000
05/03/94 Swiss Bank Corporation 4,900,000
05/04/94 Swiss Bank Corporation 3,600,000
16
<PAGE>
Penelec (cont'd)
Date Bank Amount
05/05/94 Union Bank of Switzerland 5,000,000
05/06/94 Swiss Bank Corporation 2,000,000
05/09/94 Swiss Bank Corporation 4,100,000
05/10/94 Union Bank of Switzerland 5,700,000
05/10/94 Mellon Bank, N.A. 4,100,000
05/10/94 Citibank, N.A. 6,900,000
05/10/94 National Community Bank 3,300,000
05/10/94 Bank of New York 12,800,000
05/11/94 National Community Bank 7,000,000
05/11/94 Bank of New York 23,000,000
05/12/94 Mellon Bank, N.A. 10,000,000
05/12/94 Union Bank of Switzerland 1,700,000
05/12/94 Bank of New York 25,000,000
05/12/94 Morgan Guaranty Trust 3,600,000
05/13/94 Bank of New York 4,300,000
05/13/94 Swiss Bank Corporation 10,000,000
05/13/94 Mellon Bank, N.A. 9,700,000
05/13/94 National Community Bank 7,000,000
05/16/94 National Community Bank 7,000,000
05/16/94 Swiss Bank Corporation 9,900,000
05/16/94 Mellon Bank, N.A. 10,000,000
05/16/94 Bank of New York 3,400,000
05/17/94 Citibank, N.A. 7,800,000
05/18/94 First Fidelity Bank, N.A. 1,600,000
05/20/94 Mellon Bank, N.A. 30,000,000
05/20/94 Banca Popolare Di Milano 2,800,000
05/23/94 Swiss Bank Corporation 3,500,000
05/23/94 Mellon Bank, N.A. 30,000,000
05/24/94 First Fidelity Bank, N.A. 1,000,000
05/24/94 Mellon Bank, N.A. 30,000,000
05/31/94 Bank of New York 25,000,000
06/01/94 Chase Manhattan Bank 9,000,000
06/01/94 First Fidelity Bank, N.A. 8,800,000
06/01/94 First Fidelity Bank, N.A. 19,200,000
06/01/94 United Jersey Bank, N.A. 10,100,000
06/02/94 Citibank, N.A. 7,600,000
06/02/94 Swiss Bank Corporation 9,400,000
06/03/94 Bank of New York 11,100,000
06/06/94 Bank of New York 6,000,000
06/07/94 First Fidelity Bank, N.A. 1,000,000
06/08/94 First Fidelity Bank, N.A. 1,000,000
06/09/94 United Jersey Bank, N.A. 5,300,000
06/09/94 Merchants National Bank 700,000
06/09/94 First Fidelity Bank, N.A. 18,400,000
06/10/94 First Fidelity Bank, N.A. 800,000
06/10/94 First Fidelity Bank, N.A. 1,200,000
06/13/94 First Fidelity Bank, N.A. 300,000
06/14/94 Bank of New York 5,000,000
06/17/94 Bank of New York 2,000,000
06/20/94 Morgan Guaranty Trust 5,800,000
06/20/94 First Fidelity Bank, N.A. 600,000
06/20/94 Swiss Bank Corporation 10,000,000
17
<PAGE>
Penelec (cont'd)
Date Bank Amount
06/21/94 Chemical Bank New Jersey 6,000,000
06/22/94 Citibank, N.A. 1,600,000
06/22/94 First Fidelity Bank, N.A. 2,400,000
06/23/94 First Fidelity Bank, N.A. 3,500,000
06/24/94 First Fidelity Bank, N.A. 3,000,000
06/28/94 Swiss Bank Corporation 10,000,000
06/28/94 First Fidelity Bank, N.A. 3,600,000
06/30/94 First Fidelity Bank, N.A. 2,700,000
To summarize the above transactions, at June 30, 1994, the
GPU Companies had outstanding unsecured promissory notes pursuant
to informal bank lines of credit as follows:
GPU $118,400,000
JCP&L 129,400,000
Met-Ed 34,300,000
Penelec 6,600,000
18
<PAGE>
SIGNATURE
PURSUANT TO THE REQUIREMENTS OF THE PUBLIC UTILITY
HOLDING COMPANY ACT OF 1935, THE UNDERSIGNED COMPANIES HAVE DULY
CAUSED THIS STATEMENT TO BE SIGNED ON THEIR BEHALF BY THE
UNDERSIGNED THEREUNTO DULY AUTHORIZED.
GENERAL PUBLIC UTILITIES CORPORATION
JERSEY CENTRAL POWER & LIGHT COMPANY
METROPOLITAN EDISON COMPANY
PENNSYLVANIA ELECTRIC COMPANY
By:
Don W. Myers
Vice President and Treasurer
Date: July 8, 1994
<PAGE>
