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
Pursuant Metropolitan Edison Company : To Rule 24 of
Partial Pennsylvania Electric Company : Completion of
: Transactions
File No. 70-7926 :
:
(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, and Supplemental
Order, dated October 26, 1994, with respect to said Declaration,
as follows:
1. During the period October 1, 1994 through December
31, 1994, the GPU Companies issued no promissory notes
representing borrowings under the Credit Agreement, dated March
1<PAGE>
19, 1992, as amended by First Amendment, dated as of November 1,
1994, between the GPU Companies, certain banks parties thereto,
and 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 September 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 $20,000,000
Met-Ed 0
Penelec 0
3. During the period October 1, 1994 through December
31, 1994, JCP&L, Met-Ed, and Penelec issued and sold (and paid at
maturity where such commercial paper matured on or before
December 31, 1994) unsecured short-term promissory notes as
commercial paper as follows:
JCP&L
Date of Issuance Maturity Date Amount
11/03/94 12/05/94 $13,500,000
12/05/94 12/28/94 7,000,000
12/28/94 01/27/95 9,000,000
12/30/94 01/26/95 24,000,000
Met-Ed
Date of Issuance Maturity Date Amount
None
2<PAGE>
Penelec
Date of Issuance Maturity Date Amount
11/30/94 12/21/94 $30,600,000
12/08/94 12/29/94 3,500,000
12/30/94 02/23/95 27,000,000
To summarize the above transactions, at December 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 $33,000,000
Met-Ed 0
Penelec 27,000,000
4. At the close of business on September 30, 1994, the GPU
Companies had outstanding unsecured short-term promissory notes
representing bank borrowings under informal bank lines, as
follows:
Company Amount
GPU $120,900,000
JCP&L 79,100,000
Met-Ed 0
Penelec 16,000,000
During the period October 1, 1994 through December 31, 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
10/03/94 Union Bank of Switzerland $ 3,100,000 03/31/95
10/03/94 Banca Popolare di Milano 6,600,000 01/13/95
10/06/94 Canadian Imperial Bank 7,700,000 01/06/95
10/07/94 PNC Bank, N.A. 4,000,000 01/09/95
10/07/94 Union Bank of Switzerland 9,600,000 04/07/95
10/07/94 Mellon Bank, N.A. 4,300,000 01/06/95
10/07/94 Union Bank of Switzerland 6,600,000 04/06/95
3<PAGE>
GPU (cont'd)
Issue
Date Bank Amount Maturity
10/13/94 Morgan Guaranty Trust $9,000,000 12/12/94
10/21/94 Chemical Bank New Jersey 5,600,000 01/27/95
11/07/94 Mellon Bank, N.A. 16,300,000 11/14/94
11/07/94 Morgan Guaranty Trust 8,600,000 11/14/94
11/08/94 Bank of New York 1,200,000 11/15/94
11/08/94 First Fidelity Bank, N.A. 6,500,000 11/16/94
11/10/94 Bank of New York 4,300,000 12/12/94
11/10/94 National Community Bank 7,000,000 12/22/94
11/14/94 Banca Popolare di Milano 5,000,000 12/14/94
11/14/94 Morgan Guaranty Trust 19,900,000 12/13/94
11/15/94 PNC Bank, N.A. 1,300,000 12/14/94
11/16/94 Morgan Guaranty Trust 6,500,000 11/30/94
11/17/94 Bank of New York 3,900,000 12/19/94
11/17/94 First Fidelity Bank, N.A. 6,700,000 12/19/94
11/30/94 Chemical Bank 3,400,000 12/21/94
12/09/94 Morgan Guaranty Trust 7,200,000 12/30/94
12/12/94 Midlantic National Bank 4,700,000 12/16/94
12/12/94 Morgan Guaranty Trust 8,700,000 12/29/94
12/13/94 Mellon Bank, N.A. 14,500,000 12/27/94
12/13/94 First Fidelity Bank, N.A. 3,400,000 12/27/94
12/13/94 Mellon Bank, N.A. 2,100,000 12/27/94
12/14/94 Bank of New York 6,500,000 12/28/94
12/16/94 Midlantic National Bank 4,700,000 01/17/95
12/19/94 First Fidelity Bank, N.A. 5,400,000 01/19/95
12/19/94 Midlantic National Bank 5,300,000 01/19/95
12/21/94 First Fidelity Bank, N.A. 3,400,000 01/20/95
12/22/94 Chemical Bank New Jersey 2,200,000 01/23/95
12/22/94 Union Bank of Switzerland 4,800,000 01/23/95
12/27/94 Bank of New York 13,100,000 01/27/95
12/27/94 Mellon Bank, N.A. 6,900,000 01/10/95
12/28/94 Mercantile Safe Deposit & Trust 6,600,000 01/26/95
12/29/94 PNC Bank, N.A. 8,600,000 01/12/95
12/30/94 Union Bank of Switzerland 7,400,000 01/30/95
JCP&L
Issue
Date Bank Amount Maturity
10/03/94 Citibank, N.A. $ 9,600,000 10/18/94
10/04/94 Bank of New York 9,900,000 10/06/94
10/06/94 First Fidelity Bank, N.A. 2,500,000 10/07/94
10/06/94 Bank of Pennsylvania 6,500,000 10/13/94
10/07/94 First Fidelity Bank, N.A. 700,000 10/11/94
10/12/94 Bank of New York 5,900,000 10/13/94
10/13/94 First Fidelity Bank, N.A. 5,600,000 10/14/94
10/14/94 First Fidelity Bank, N.A. 3,300,000 10/17/94
10/17/94 First Fidelity Bank, N.A. 7,400,000 10/26/94
10/18/94 Chemical Bank New Jersey 5,900,000 10/19/94
10/19/94 Swiss Bank Corporation 2,900,000 10/21/94
4<PAGE>
JCP&L (cont'd)
Issue
Date Bank Amount Maturity
10/20/94 First Fidelity Bank, N.A. $ 9,500,000 11/17/94
10/20/94 Chase Manhattan Bank 14,800,000 11/07/94
10/21/94 Chemical Bank New Jersey 4,200,000 10/27/94
10/25/94 First Fidelity Bank, N.A. 3,000,000 10/28/94
10/26/94 First Fidelity Bank, N.A. 3,000,000 11/10/94
10/27/94 Chemical Bank New Jersey 3,200,000 11/16/94
10/28/94 First Fidelity Bank, N.A. 2,000,000 11/10/94
10/31/94 First Fidelity Bank, N.A. 4,000,000 11/08/94
11/01/94 Chase Manhattan Bank 15,000,000 12/29/94
11/01/94 Citibank, N.A. 10,000,000 11/15/94
11/01/94 Chemical Bank 10,000,000 11/22/94
11/02/94 First Fidelity Bank, N.A. 4,000,000 11/18/94
11/03/94 Bank of New York 4,900,000 11/04/94
11/04/94 Chemical Bank New Jersey 1,000,000 11/23/94
11/07/94 Chase Manhattan Bank 10,000,000 11/09/94
11/07/94 First Fidelity Bank, N.A. 1,500,000 11/08/94
11/08/94 First Fidelity Bank, N.A. 1,000,000 11/16/94
11/09/94 Bank of Pennsylvania 6,400,000 11/23/94
11/10/94 First Fidelity Bank, N.A. 2,800,000 11/29/94
11/14/94 First Fidelity Bank, N.A. 7,800,000 12/07/94
11/15/94 First Fidelity Bank, N.A. 1,700,000 12/16/94
11/15/94 First Fidelity Bank, N.A. 7,500,000 12/14/94
11/16/94 Chemical Bank New Jersey 3,100,000 12/02/94
11/17/94 First Fidelity Bank, N.A. 7,800,000 12/19/94
11/21/94 First Fidelity Bank, N.A. 1,600,000 12/16/94
11/22/94 Bank of New York 8,000,000 12/22/94
11/23/94 Union Bank of Switzerland 2,700,000 11/25/94
11/28/94 Mellon Bank, N.A. 15,000,000 01/30/95
11/30/94 Chemical Bank New Jersey 500,000 12/21/94
11/30/94 First Fidelity Bank, N.A. 4,800,000 12/21/94
12/01/94 Morgan Guaranty Trust 9,000,000 12/23/94
12/02/94 Chemical Bank New Jersey 1,700,000 12/21/94
12/06/94 Bank of New York 3,000,000 12/07/94
12/06/94 Chase Manhattan Bank 9,100,000 12/08/94
12/07/94 First Fidelity Bank, N.A. 7,600,000 12/08/94
12/08/94 First Fidelity Bank, N.A. 9,300,000 12/09/94
12/08/94 Chase Manhattan Bank 7,900,000 12/12/94
12/09/94 First Fidelity Bank, N.A. 9,200,000 12/12/94
12/12/94 Swiss Bank Corporation 8,300,000 12/13/94
12/13/94 Bank of New York 4,500,000 12/14/94
12/14/94 First Fidelity Bank, N.A. 8,100,000 12/28/94
12/15/94 Swiss Bank Corporation 10,000,000 12/22/94
12/15/94 Citibank, N.A. 10,600,000 12/22/94
12/15/94 First Fidelity Bank, N.A. 4,400,000 12/16/94
12/16/94 Mellon Bank, N.A. 3,500,000 12/19/94
12/19/94 Bank of New York 3,000,000 12/20/94
12/20/94 Bank of Pennsylvania 12,000,000 01/03/95
12/21/94 First Fidelity Bank, N.A. 4,100,000 01/19/95
12/22/94 United Jersey Bank, N.A. 9,600,000 01/12/95
12/22/94 Citibank, N.A. 12,300,000 12/29/94
12/22/94 Swiss Bank Corporation 3,300,000 12/23/94
5<PAGE>
JCP&L (cont'd)
Issue
Date Bank Amount Maturity
12/23/94 Hamilton Bank $ 7,400,000 01/24/95
12/27/94 First Fidelity Bank, N.A. 4,600,000 01/17/95
12/27/94 Bank of New York 2,400,000 01/17/95
12/29/94 PNC Bank, N.A. 22,400,000 01/09/95
Met-Ed
Issue
Date Bank Amount Maturity
None
Penelec
Issue
Date Bank Amount Maturity
10/03/94 Mellon Bank, N.A. $ 3,200,000 10/05/94
10/04/94 First Fidelity Bank, N.A. 800,000 10/05/94
10/04/94 Mellon Bank, N.A. 4,300,000 10/13/94
10/05/94 Bank of New York 3,600,000 10/06/94
10/06/94 Mellon Bank, N.A. 2,000,000 10/07/94
10/07/94 First Fidelity Bank, N.A. 1,600,000 10/11/94
10/12/94 National Community Bank 3,700,000 10/17/94
10/13/94 First Fidelity Bank, N.A. 4,700,000 10/14/94
10/14/94 First Fidelity Bank, N.A. 4,700,000 10/17/94
10/17/94 Mellon Bank, N.A. 3,800,000 10/18/94
10/31/94 First Fidelity Bank, N.A. 2,500,000 11/03/94
11/01/94 Bank of New York 10,000,000 11/21/94
11/01/94 Bank of New York 9,900,000 11/07/94
11/01/94 Mellon Bank, N.A. 10,300,000 11/14/94
11/01/94 First Fidelity Bank, N.A. 9,700,000 11/28/94
11/02/94 Mellon Bank, N.A. 3,500,000 11/15/94
11/03/94 Morgan Guaranty Trust 5,500,000 11/10/94
11/03/94 First Fidelity Bank, N.A. 2,000,000 11/04/94
11/07/94 Mellon Bank, N.A. 3,300,000 11/08/94
11/07/94 Mellon Bank, N.A. 3,700,000 11/08/94
11/08/94 Mellon Bank, N.A. 2,500,000 11/09/94
11/09/94 Mellon Bank, N.A. 1,600,000 11/15/94
11/10/94 Morgan Guaranty Trust 4,300,000 11/29/94
11/14/94 Swiss Bank Corporation 8,100,000 11/15/94
11/15/94 Mellon Bank, N.A. 9,100,000 11/16/94
11/16/94 First Fidelity Bank, N.A. 3,000,000 11/22/94
11/16/94 First Fidelity Bank, N.A. 4,000,000 11/17/94
11/17/94 Mellon Bank, N.A. 3,000,000 11/18/94
11/18/94 First Fidelity Bank, N.A. 2,400,000 12/02/94
11/21/94 Morgan Guaranty Trust 6,500,000 12/06/94
11/22/94 First Fidelity Bank, N.A. 1,000,000 12/05/94
11/28/94 First Fidelity Bank, N.A. 8,200,000 12/12/94
6<PAGE>
Penelec (cont'd)
Issue
Date Bank Amount Maturity
11/29/94 First Fidelity Bank, N.A. $ 500,000 11/30/94
11/30/94 Citibank, N.A. 15,000,000 12/14/94
11/30/94 Chemical Bank 6,600,000 12/21/94
12/01/94 Morgan Guaranty Trust 5,200,000 12/28/94
12/01/94 Morgan Guaranty Trust 2,500,000 12/08/94
12/02/94 Bank of New York 4,300,000 12/05/94
12/05/94 First Fidelity Bank, N.A. 3,400,000 12/13/94
12/05/94 Bank of New York 2,000,000 12/09/94
12/06/94 Bank of New York 3,800,000 12/07/94
12/07/94 Chemical Bank New Jersey 2,200,000 12/29/94
12/12/94 Union Bank of Switzerland 5,400,000 12/13/94
12/13/94 Bank of New York 3,500,000 12/14/94
12/14/94 First Fidelity Bank, N.A. 12,500,000 12/20/94
12/14/94 Midlantic National Bank 5,300,000 12/19/94
12/15/94 Morgan Guaranty Trust 17,900,000 12/23/94
12/19/94 First Fidelity Bank, N.A. 2,000,000 01/04/95
12/20/94 First Fidelity Bank, N.A. 4,100,000 01/18/95
12/20/94 First Fidelity Bank, N.A. 4,000,000 01/19/95
12/21/94 Banca Popolare di Milano 13,400,000 01/17/95
12/21/94 First Fidelity Bank, N.A. 12,800,000 01/20/95
12/21/94 United Jersey Bank, N.A. 5,400,000 01/13/95
12/21/94 First Fidelity Bank, N.A. 3,700,000 12/22/94
12/21/94 Citibank, N.A. 2,700,000 12/27/94
12/22/94 First Fidelity Bank, N.A. 2,500,000 01/12/95
12/23/94 Union Bank of Switzerland 5,300,000 12/29/94
12/23/94 Mellon Bank, N.A. 5,500,000 01/27/95
12/23/94 National Community Bank 7,000,000 01/23/95
12/27/94 Bank of New York 3,000,000 01/27/95
12/28/94 First Fidelity Bank, N.A. 8,100,000 01/26/95
12/29/94 Bank of New York 6,500,000 01/10/95
12/29/94 PNC Bank, N.A. 2,100,000 01/10/95
12/29/94 PNC Bank, N.A. 2,400,000 01/10/95
12/30/94 Morgan Guaranty Trust 5,500,000 01/06/95
Each such unsecured promissory note bears interest at a rate
(after giving effect to any fees or compensating balance
requirements) not exceeding 125% of the greater of (A) the
lending bank's prime rate for commercial borrowings in effect
from time to time, and (B) the Federal Funds Rate plus 1/2 of 1%,
as in effect at the date of borrowing.
During the period of October 1, 1994 through December 31,
1994, the Companies repaid unsecured promissory notes issued to
banks, as follows:
7<PAGE>
GPU
Date Bank Amount
10/03/94 Union Bank of Switzerland $ 9,500,000
10/06/94 Bank of Pennsylvania 7,600,000
10/07/94 Mellon Bank, N.A. 12,500,000
10/07/94 Mellon Bank, N.A. 2,800,000
10/07/94 PNC Bank, N.A. 9,600,000
GPU (cont'd)
Date Bank Amount
10/13/94 Morgan Guaranty Trust $ 8,800,000
10/21/94 United States National 5,600,000
11/07/94 Banca Popolare Di Milano 5,000,000
11/07/94 Union Bank of Switzerland 15,300,000
11/07/94 United States National 4,400,000
11/10/94 PNC Bank, N.A. 11,000,000
11/14/94 Morgan Guaranty Trust 8,600,000
11/14/94 Mellon Bank, N.A. 16,300,000
11/15/94 Bank of New York 1,200,000
11/16/94 First Fidelity Bank, N.A. 6,500,000
11/17/94 Union Bank of Switzerland 5,400,000
11/17/94 United Jersey Bank, N.A. 4,900,000
11/30/94 Morgan Guaranty Trust 6,500,000
12/09/94 Banca Popolare di Milano 8,400,000
12/12/94 Morgan Guaranty Trust 9,000,000
12/12/94 Bank of New York 4,300,000
12/13/94 Morgan Guaranty Trust 19,900,000
12/14/94 PNC Bank, N.A. 1,300,000
12/14/94 Banca Popolare di Milano 5,000,000
12/16/94 Midlantic National Bank 4,700,000
12/19/94 First Fidelity Bank, N.A. 6,700,000
12/19/94 Bank of New York 3,900,000
12/21/94 Chemical Bank 3,400,000
12/22/94 National Community Bank 7,000,000
12/27/94 First Fidelity Bank, N.A. 3,400,000
12/27/94 Mellon Bank, N.A. 14,500,000
12/27/94 Mellon Bank, N.A. 2,100,000
12/28/94 Bank of New York 6,500,000
12/29/94 Morgan Guaranty Trust 8,700,000
12/30/94 Morgan Guaranty Trust 7,200,000
JCP&L
Date Bank Amount
10/05/94 Bank of Pennsylvania $ 2,000,000
10/06/94 Bank of New York 9,900,000
10/07/94 First Fidelity Bank, N.A. 2,500,000
10/07/94 PNC Bank, N.A. 900,000
10/11/94 First Fidelity Bank, N.A. 700,000
10/11/94 Mellon Bank, N.A. 7,500,000
8<PAGE>
JCP&L (cont'd)
Date Bank Amount
10/12/94 First Fidelity Bank, N.A. $12,000,000
10/13/94 Bank of New York 5,900,000
10/13/94 Bank of Pennsylvania 6,500,000
10/14/94 First Fidelity Bank, N.A. 5,600,000
10/17/94 Midlantic National Bank 10,000,000
10/17/94 First Fidelity Bank, N.A. 3,300,000
10/18/94 Citibank, N.A. 9,600,000
10/19/94 Chemical Bank New Jersey 5,900,000
10/21/94 Chemical Bank New Jersey 4,000,000
10/21/94 Swiss Bank Corporation 2,900,000
10/24/94 First Fidelity Bank, N.A. 9,700,000
10/25/94 First Fidelity Bank, N.A. 9,100,000
10/26/94 First Fidelity Bank, N.A. 7,400,000
10/27/94 Chemical Bank New Jersey 4,200,000
10/28/94 First Fidelity Bank, N.A. 3,000,000
11/04/94 Bank of New York 4,900,000
11/07/94 Chase Manhattan Bank 14,800,000
11/08/94 First Fidelity Bank, N.A. 4,000,000
11/08/94 First Fidelity Bank, N.A. 1,500,000
11/09/94 Chase Manhattan Bank 10,000,000
11/10/94 First Fidelity Bank, N.A. 3,000,000
11/10/94 First Fidelity Bank, N.A. 2,000,000
11/14/94 First Fidelity Bank, N.A. 15,300,000
11/15/94 Citibank, N.A. 10,000,000
11/16/94 Chemical Bank New Jersey 3,200,000
11/16/94 First Fidelity Bank, N.A. 1,000,000
11/17/94 First Fidelity Bank, N.A. 9,500,000
11/18/94 First Fidelity Bank, N.A. 4,000,000
11/22/94 Chemical Bank 10,000,000
11/23/94 Bank of Pennsylvania 6,400,000
11/23/94 Chemical Bank New Jersey 1,000,000
11/25/94 Union Bank of Switzerland 2,700,000
11/29/94 First Fidelity Bank, N.A. 2,800,000
12/02/94 Chemical Bank New Jersey 3,100,000
12/07/94 Bank of New York 3,000,000
12/07/94 First Fidelity Bank, N.A. 7,800,000
12/08/94 First Fidelity Bank, N.A. 7,600,000
12/08/94 Chase Manhattan Bank 9,100,000
12/09/94 First Fidelity Bank, N.A. 9,300,000
12/12/94 Chase Manhattan Bank 7,900,000
12/12/94 First Fidelity Bank, N.A. 9,200,000
12/13/94 Swiss Bank Corporation 8,300,000
12/14/94 First Fidelity Bank, N.A. 7,500,000
12/14/94 Bank of New York 4,500,000
12/16/94 First Fidelity Bank, N.A. 1,700,000
12/16/94 First Fidelity Bank, N.A. 4,400,000
12/16/94 First Fidelity Bank, N.A. 1,600,000
12/19/94 Mellon Bank, N.A. 3,500,000
12/19/94 First Fidelity Bank, N.A. 7,800,000
12/20/94 Bank of New York 3,000,000
12/21/94 First Fidelity Bank, N.A. 4,800,000
12/21/94 Chemical Bank New Jersey 500,000
9<PAGE>
JCP&L (cont'd)
Date Bank Amount
12/21/94 Chemical Bank New Jersey $ 1,700,000
12/22/94 Citibank, N.A. 10,600,000
12/22/94 Swiss Bank Corporation 10,000,000
12/22/94 Bank of New York 8,000,000
12/23/94 Morgan Guaranty Trust 9,000,000
12/23/94 Swiss Bank Corporation 3,300,000
12/27/94 Mellon Bank, N.A. 8,600,000
12/28/94 First Fidelity Bank, N.A. 8,100,000
12/29/94 Citibank, N.A. 12,300,000
12/29/94 Chase Manhattan Bank 15,000,000
Met-Ed
Date Bank Amount
None
Penelec
Date Bank Amount
10/04/94 First Fidelity Bank, N.A. $ 4,900,000
10/05/94 First Fidelity Bank, N.A. 800,000
10/05/94 Mellon Bank, N.A. 3,200,000
10/06/94 Bank of New York 3,600,000
10/07/94 Mellon Bank, N.A. 2,000,000
10/11/94 First Fidelity Bank, N.A. 1,600,000
10/12/94 Mellon Bank, N.A. 11,100,000
10/13/94 Mellon Bank, N.A. 4,300,000
10/14/94 First Fidelity Bank, N.A. 4,700,000
10/17/94 First Fidelity Bank, N.A. 4,700,000
10/17/94 National Community Bank 3,700,000
10/18/94 Mellon Bank, N.A. 3,800,000
11/03/94 First Fidelity Bank, N.A. 2,500,000
11/04/94 First Fidelity Bank, N.A. 2,000,000
11/07/94 Bank of New York 9,900,000
11/08/94 Mellon Bank, N.A. 3,300,000
11/08/94 Mellon Bank, N.A. 3,700,000
11/09/94 Mellon Bank, N.A. 2,500,000
11/10/94 Morgan Guaranty Trust 5,500,000
11/14/94 Mellon Bank, N.A. 10,300,000
11/15/94 Mellon Bank, N.A. 3,500,000
11/15/94 Swiss Bank Corporation 8,100,000
11/15/94 Mellon Bank, N.A. 1,600,000
11/16/94 Mellon Bank, N.A. 9,100,000
11/17/94 First Fidelity Bank, N.A. 4,000,000
11/18/94 Mellon Bank, N.A. 3,000,000
11/21/94 Bank of New York 10,000,000
11/22/94 First Fidelity Bank, N.A. 3,000,000
11/28/94 First Fidelity Bank, N.A. 9,700,000
10<PAGE>
Penelec (cont'd)
Date Bank Amount
11/29/94 Morgan Guaranty Trust $ 4,300,000
11/30/94 First Fidelity Bank, N.A. 500,000
12/02/94 First Fidelity Bank, N.A. 2,400,000
12/05/94 First Fidelity Bank, N.A. 1,000,000
12/05/94 Bank of New York 4,300,000
12/06/94 Morgan Guaranty Trust 6,500,000
12/07/94 Bank of New York 3,800,000
12/08/94 Morgan Guaranty Trust 2,500,000
12/09/94 Bank of New York 2,000,000
12/12/94 First Fidelity Bank, N.A. 8,200,000
12/13/94 Union Bank of Switzerland 5,400,000
12/13/94 First Fidelity Bank, N.A. 3,400,000
12/14/94 Bank of New York 3,500,000
12/14/94 Citibank, N.A. 15,000,000
12/19/94 Midlantic National Bank 5,300,000
12/20/94 First Fidelity Bank, N.A. 12,500,000
12/21/94 Chemical Bank 6,600,000
12/22/94 First Fidelity Bank, N.A. 3,700,000
12/23/94 Morgan Guaranty Trust 17,900,000
12/27/94 Citibank, N.A. 2,700,000
12/28/94 Morgan Guaranty Trust 5,200,000
12/29/94 Chemical Bank New Jersey 2,200,000
12/29/94 Union Bank of Switzerland 5,300,000
To summarize the above transactions, at December 31, 1994,
the GPU Companies had outstanding unsecured promissory notes
pursuant to informal bank lines of credit as follows:
GPU $126,000,000
JCP&L 77,500,000
Met-Ed 0
Penelec 84,300,000
11<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:
T. G. Howson
Vice President and Treasurer
Date: January 10, 1995<PAGE>
