SEC FILE NO. 70-7926
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CERTIFICATE PURSUANT TO
RULE 24
OF PARTIAL COMPLETION OF
TRANSACTIONS
GPU, INC.
JERSEY CENTRAL POWER & LIGHT COMPANY
METROPOLITAN EDISON COMPANY
PENNSYLVANIA ELECTRIC COMPANY<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
In the Matter of :
:
GPU, Inc. :
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, GPU, Inc. (formerly known as 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 Orders, dated October 26, 1994,
and July 17, 1996, with respect to said Declaration, as follows:
1. During the period July 1, 1996 through September
30, 1996, the GPU Companies issued no promissory notes
representing borrowings under the Amended and Restated Credit
-1-<PAGE>
Agreement, dated as of July 3, 1996, among the GPU Companies; the
banks named therein, and The Chase Manhattan Bank, N.A., as
Administrative Agent, Citibank Securities, Inc., as Syndication
Agent, and Citicorp Securities, Inc. and Chase Securities, Inc.,
as Arrangers, and no such borrowings were outstanding thereunder
at such date.
2. At the close of business on June 30, 1996, JCP&L,
Met-Ed and Penelec had outstanding unsecured short-term
promissory notes issued as commercial paper as follows:
Company Amount
JCP&L $68,800,000
Met-Ed 8,500,000
Penelec 51,400,000
3. During the period July 1, 1996 through September
30, 1996, JCP&L, Met-Ed, and Penelec issued and sold (and paid at
maturity where such commercial paper matured on or before
September 30, 1996) unsecured short-term promissory notes as
commercial paper as follows:
JCP&L
Date of Issuance Maturity Date Amount
07/03/96 07/22/96 $15,100,000
07/11/96 07/18/96 9,700,000
07/16/96 08/16/96 12,700,000
07/22/96 08/21/96 13,700,000
07/22/96 07/23/96 8,000,000
08/05/96 09/05/96 14,700,000
08/06/96 08/13/96 3,000,000
08/07/96 08/08/96 5,300,000
08/08/96 10/07/96 10,100,000
08/13/96 08/14/96 4,100,000
08/14/96 09/17/96 5,500,000
08/20/96 08/21/96 5,000,000
08/22/96 08/23/96 6,000,000
08/23/96 08/29/96 4,000,000
08/28/96 09/04/96 4,500,000
08/30/96 09/23/96 33,000,000
09/04/96 09/26/96 9,300,000
09/04/96 09/19/96 9,300,000
-2-
<PAGE>
JCP&L continued
Date of Issuance Maturity Date Amount
09/06/96 09/12/96 $ 2,700,000
09/10/96 09/11/96 7,700,000
09/11/96 09/12/96 7,300,000
09/19/96 09/25/96 5,300,000
09/20/96 10/11/96 8,000,000
09/23/96 09/26/96 19,000,000
09/25/96 10/24/96 9,300,000
09/26/96 10/23/96 12,500,000
09/26/96 10/17/96 13,000,000
09/27/96 09/30/96 7,000,000
09/30/96 10/18/96 10,400,000
09/30/96 10/09/96 7,000,000
Met-Ed
Date of Issuance Maturity Date Amount
07/03/96 07/16/96 $11,400,000
07/05/96 07/09/96 8,100,000
07/09/96 07/11/96 5,900,000
07/10/96 07/15/96 5,300,000
07/12/96 07/15/96 7,700,000
07/15/96 07/17/96 10,600,000
07/16/96 07/18/96 9,800,000
07/17/96 07/19/96 10,600,000
07/18/96 07/29/96 6,300,000
07/19/96 07/22/96 8,400,000
07/22/96 07/23/96 27,100,000
07/23/96 07/24/96 25,600,000
07/24/96 07/25/96 24,500,000
07/25/96 07/26/96 22,400,000
07/26/96 08/06/96 6,600,000
07/29/96 08/09/96 5,000,000
07/29/96 07/31/96 5,000,000
07/29/96 07/30/96 5,000,000
08/01/96 08/02/96 16,100,000
08/02/96 08/16/96 6,500,000
08/12/96 08/13/96 4,100,000
08/14/96 08/20/96 10,700,000
08/15/96 08/16/96 8,500,000
08/19/96 08/22/96 14,700,000
08/20/96 08/21/96 10,400,000
08/21/96 08/23/96 10,000,000
08/22/96 08/23/96 12,000,000
08/26/96 09/05/96 16,200,000
08/26/96 08/27/96 5,000,000
-3-<PAGE>
08/28/96 09/09/96 22,400,000
08/28/96 08/29/96 5,000,000
08/30/96 09/16/96 9,100,000
Met-Ed continued
Date of Issuance Maturity Date Amount
09/04/96 09/18/96 $ 5,000,000
09/05/96 09/19/96 9,200,000
09/11/96 09/12/96 6,400,000
09/12/96 09/13/96 3,600,000
09/16/96 09/17/96 10,000,000
09/19/96 09/26/96 5,300,000
09/20/96 09/27/96 6,600,000
09/25/96 10/09/96 12,200,000
09/25/96 10/02/96 10,000,000
09/26/96 09/27/96 7,000,000
Penelec
Date of Issuance Maturity Date Amount
07/03/96 07/25/96 $ 7,200,000
07/03/96 07/05/96 4,000,000
07/05/96 07/11/96 2,300,000
07/10/96 10/07/96 17,800,000
07/17/96 07/18/96 4,800,000
07/19/96 09/19/96 8,300,000
07/25/96 07/31/96 6,100,000
07/29/96 08/13/96 10,000,000
07/29/96 07/30/96 10,000,000
08/05/96 08/21/96 2,600,000
08/12/96 08/13/96 13,300,000
08/14/96 09/04/96 9,000,000
08/15/96 08/16/96 7,000,000
08/22/96 08/23/96 10,600,000
08/23/96 09/09/96 9,800,000
08/26/96 09/05/96 3,000,000
08/28/96 09/12/96 12,000,000
08/30/96 09/20/96 8,000,000
09/04/96 09/05/96 6,900,000
09/12/96 09/13/96 11,600,000
09/13/96 09/27/96 15,600,000
09/16/96 09/17/96 13,600,000
09/19/96 09/20/96 8,300,000
09/20/96 10/11/96 7,300,000
09/25/96 10/16/96 7,000,000
09/25/96 09/26/96 5,000,000
09/26/96 10/17/96 8,200,000
To summarize the above transactions, at September 30, 1996,
-4-<PAGE>
JCP&L, Met-Ed and Penelec had outstanding unsecured short-term
promissory notes issued as commercial paper as follows:
Company Amount
JCP&L $70,300,000
Met-Ed 22,200,000
Penelec 40,300,000
4. At the close of business on June 30, 1996, the GPU
Companies had outstanding unsecured short-term promissory notes
representing bank borrowings under informal bank lines, as
follows:
Company Amount
GPU $ 85,500,000
JCP&L 121,000,000
Met-Ed 26,490,000
Penelec 57,900,000
During the period July 1, 1996 through September 30, 1996,
the GPU Companies issued unsecured promissory notes representing
bank borrowings under informal bank lines of credit as follows:
GPU
Issue
Date Bank Amount Maturity
07/01/96 Merchants National Bank $ 200,000 07/22/96
07/08/96 Merchants National Bank 300,000 07/29/96
07/08/96 PNC Bank 9,700,000 07/29/96
07/09/96 Merchants National Bank 200,000 07/29/96
07/17/96 PNC Bank 5,800,000 08/19/96
07/17/96 Mellon Bank, N.A. 9,100,000 08/07/96
07/18/96 Merchants National Bank 100,000 08/28/96
07/22/96 First Union National Bank 400,000 07/29/96
07/22/96 First Union National Bank 6,700,000 08/07/96
07/25/96 Bank of Pennsylvania 7,300,000 09/23/96
07/29/96 First Union National Bank 5,900,000 09/26/96
07/29/96 Bank of New York 4,700,000 07/30/96
07/30/96 Banca Popolare Di Milano 4,700,000 09/16/96
08/06/96 Canadian Imperial Bank 7,600,000 11/05/96
08/07/96 PNC Bank 5,800,000 09/06/96
-5-<PAGE>
08/07/96 Chase Manhattan Bank 10,000,000 10/22/96
08/08/96 Union Bank of Switzerland 6,500,000 08/29/96
08/14/96 Merchants National Bank 100,000 08/28/96
08/19/96 Bank of Pennsylvania 5,900,000 09/05/96
08/20/96 United Jersey Bank 7,700,000 10/17/96
08/21/96 Merchants National Bank 400,000 08/28/96
08/23/96 Merchants National Bank 100,000 08/28/96
GPU continued
Issue
Date Bank Amount Maturity
08/28/96 Fuji Bank $ 9,600,000 09/26/96
08/29/96 Bank of New York 6,500,000 08/30/96
08/30/96 Union Bank of Switzerland 5,500,000 10/31/96
09/05/96 Banca Popolare Di Milano 5,100,000 10/04/96
09/05/96 Bank of New York 800,000 09/06/96
09/06/96 Chase Manhattan Bank 11,800,000 09/20/96
09/16/96 Union Bank of Switzerland 4,700,000 12/13/96
09/20/96 Johnstown Bank and Trust 8,000,000 10/21/96
09/20/96 PNC Bank 3,800,000 10/21/96
09/23/96 First Union National Bank 7,600,000 10/23/96
09/25/96 Merchants National Bank 200,000 10/23/96
09/26/96 Bank of Pennsylvania 14,600,000 10/16/96
09/26/96 Bank of New York 1,000,000 09/27/96
09/27/96 Bank of New York 1,800,000 09/30/96
09/30/96 Banca Popolare Di Milano 1,800,000 10/31/96
JCP&L
Issue
Date Bank Amount Maturity
07/01/96 Citibank, N.A. $ 5,000,000 07/19/96
07/01/96 Chase Manhattan Bank 5,000,000 07/05/96
07/02/96 Chase Manhattan Bank 400,000 07/17/96
07/05/96 PNC Bank 5,300,000 07/24/96
07/05/96 Bank of Pennsylvania 6,900,000 07/25/96
07/08/96 Union Bank of Switzerland 3,600,000 08/08/96
07/08/96 Mellon Bank, N.A. 6,800,000 08/07/96
07/08/96 Chase Manhattan Bank 7,000,000 08/09/96
07/09/96 Bank of Pennsylvania 4,300,000 07/30/96
07/09/96 Midlantic National B 5,700,000 08/09/96
07/10/96 First Union National Bank 5,900,000 09/06/96
07/12/96 First Union National Bank 1,600,000 08/06/96
07/12/96 First Union National Bank 2,000,000 08/06/96
07/12/96 Morgan Guaranty Trust 5,300,000 08/06/96
07/16/96 Midlantic National Bank 4,300,000 08/08/96
07/17/96 PNC Bank 7,300,000 08/19/96
07/18/96 Fuji Bank 12,400,000 08/12/96
07/18/96 Mellon Bank, N.A. 4,600,000 08/07/96
07/23/96 First Union National Bank 3,900,000 07/24/96
07/24/96 First Union National Bank 4,100,000 08/23/96
-6-<PAGE>
07/26/96 Chase Manhattan Bank 6,600,000 08/22/96
07/26/96 Chase Manhattan Bank 6,000,000 08/14/96
07/29/96 First Union National Bank 900,000 07/30/96
07/30/96 Bank of Pennsylvania 5,100,000 08/15/96
07/31/96 Chase Manhattan Bank 13,700,000 08/26/96
08/01/96 PNC Bank 11,000,000 08/19/96
08/01/96 Chase Manhattan Bank 4,300,000 08/27/96
JCP&L continued
Issue
Date Bank Amount Maturity
08/01/96 Banca Popolare Di Milano $ 5,100,000 08/29/96
08/09/96 Bank of New York 7,600,000 08/12/96
08/12/96 Bank of New York 8,700,000 08/13/96
08/15/96 Fuji Bank 4,500,000 08/20/96
08/16/96 Bank of New York 7,300,000 08/19/96
08/19/96 Chase Manhattan Bank 12,900,000 09/09/96
08/20/96 Union Bank of Switzerland 4,200,000 09/10/96
08/21/96 United Jersey Bank 12,300,000 09/11/96
08/21/96 First Union National Bank 3,900,000 08/22/96
08/26/96 Union Bank of Switzerland 1,000,000 08/27/96
08/27/96 First Union National Bank 3,200,000 08/28/96
08/27/96 First Union National Bank 500,000 08/28/96
08/28/96 Banca Popolare Di Milano 10,200,000 09/27/96
08/28/96 Union Bank of Switzerland 4,300,000 09/13/96
08/28/96 Chemical Bank New Jersey 20,000,000 09/18/96
08/28/96 Fuji Bank 10,400,000 09/10/96
08/29/96 First Union National Bank 3,500,000 09/12/96
09/03/96 Chase Manhattan Bank 2,100,000 09/09/96
09/05/96 Chase Manhattan Bank 9,000,000 09/25/96
09/09/96 Bank of New York 1,800,000 09/10/96
09/11/96 Citibank, N.A. 10,000,000 09/30/96
09/12/96 Mellon Bank, N.A. 7,000,000 09/13/96
09/13/96 United Jersey Bank 6,700,000 10/04/96
09/13/96 Mellon Bank, N.A. 5,200,000 09/16/96
09/16/96 Union Bank of Switzerland 4,800,000 09/24/96
09/16/96 Hamilton Bank 7,400,000 09/24/96
09/18/96 Chemical Bank New Jersey 15,000,000 10/08/96
09/19/96 Banca Popolare Di Milano 4,700,000 10/10/96
09/24/96 United Jersey Bank 5,600,000 10/24/96
Met-Ed
Issue
Date Bank Amount Maturity
07/01/96 Chase Manhattan Bank $ 7,200,000 07/10/96
07/02/96 Chase Manhattan Bank 9,300,000 07/12/96
07/08/96 Bank of New York 1,200,000 07/09/96
07/11/96 Bank of Pennsylvania 2,000,000 07/26/96
07/22/96 First Union National Bank 600,000 07/23/96
07/26/96 First Union National Bank 12,200,000 07/29/96
-7-<PAGE>
07/26/96 Citibank, N.A. 5,000,000 08/07/96
07/30/96 First Union National Bank 1,000,000 07/31/96
07/31/96 PNC Bank 3,900,000 08/13/96
07/31/96 First Union National Bank 6,700,000 08/12/96
08/02/96 Chase Manhattan Bank 10,000,000 08/14/96
08/02/96 Bank of New York 7,000,000 08/05/96
08/05/96 Bank of New York 4,100,000 08/06/96
08/06/96 Chase Manhattan Bank 6,700,000 08/13/96
Met-Ed continued
Issue
Date Bank Amount Maturity
08/07/96 Bank of New York $ 3,300,000 08/08/96
08/08/96 First Union National Bank 700,000 08/09/96
08/09/96 Bank of New York 3,600,000 08/12/96
08/13/96 First Union National Bank 5,000,000 08/14/96
08/13/96 Bank of New York 6,000,000 08/14/96
08/14/96 Mellon Bank, N.A. 10,000,000 08/15/96
08/16/96 Bank of New York 17,500,000 08/19/96
08/23/96 Bank of New York 22,500,000 08/26/96
08/27/96 First Union National Bank 7,700,000 08/28/96
08/29/96 Bank of New York 3,500,000 08/30/96
08/30/96 Bank of New York 9,000,000 09/03/96
09/03/96 Chase Manhattan Bank 7,600,000 09/04/96
09/05/96 Bank of New York 5,000,000 09/06/96
09/06/96 Bank of New York 2,000,000 09/09/96
09/09/96 Bank of New York 14,800,000 09/10/96
09/09/96 Bank of Pennsylvania 7,700,000 09/23/96
09/10/96 Bank of New York 9,000,000 09/11/96
09/13/96 First National Bank of Chicago 6,485,000 06/10/97
09/13/96 Fuji Bank 5,600,000 09/20/96
09/16/96 United Jersey Bank 5,600,000 09/24/96
09/16/96 Chase Manhattan Bank 5,600,000 09/24/96
09/17/96 Chase Manhattan Bank 8,400,000 09/25/96
09/18/96 Chase Manhattan Bank 6,200,000 09/30/96
09/23/96 Bank of New York 3,000,000 09/24/96
09/24/96 Bank of New York 12,200,000 09/25/96
09/27/96 Bank of New York 16,000,000 09/30/96
09/30/96 Union Bank of Switzerland 4,800,000 10/07/96
09/30/96 First Union National Bank 200,000 10/07/96
09/30/96 Banca Popolare Di Milano 8,400,000 10/16/96
09/30/96 Swiss Bank Corp. 10,000,000 10/15/96
Penelec
Issue
Date Bank Amount Maturity
07/01/96 Citibank, N.A. $10,000,000 07/29/96
07/02/96 Morgan Guaranty Trust 9,100,000 07/16/96
07/08/96 Bank of New York 5,100,000 07/09/96
07/09/96 Bank of New York 2,200,000 07/10/96
07/11/96 Bank of Pennsylvania 1,200,000 07/30/96
07/12/96 Morgan Guaranty Trust 7,200,000 08/12/96
-8-<PAGE>
07/15/96 Chase Manhattan Bank 8,000,000 08/06/96
07/16/96 Chase Manhattan Bank 10,900,000 08/07/96
07/18/96 Mellon Bank, N.A. 1,700,000 07/19/96
07/22/96 First Union National Bank 2,500,000 07/23/96
07/24/96 First Union National Bank 7,700,000 08/20/96
07/26/96 Morgan Guaranty Trust 7,500,000 08/02/96
07/30/96 First Union National Bank 10,400,000 07/31/96
07/31/96 Chase Manhattan Bank 5,400,000 08/19/96
Penelec continued
Issue
Date Bank Amount Maturity
07/31/96 First Union National Bank $10,400,000 08/27/96
08/01/96 Citibank, N.A. 10,000,000 08/29/96
08/01/96 Chase Manhattan Bank 9,700,000 08/22/96
08/02/96 Bank of New York 5,200,000 08/05/96
08/06/96 First Union National Bank 1,600,000 08/14/96
08/06/96 Chase Manhattan Bank 1,900,000 08/23/96
08/06/96 First Union National Bank 2,000,000 08/07/96
08/07/96 Bank of New York 12,200,000 08/08/96
08/08/96 Bank of New York 9,100,000 08/09/96
08/09/96 Bank of New York 6,700,000 08/12/96
08/13/96 Bank of New York 19,000,000 08/14/96
08/14/96 Mellon Bank, N.A. 9,800,000 08/15/96
08/16/96 Citibank, N.A. 5,000,000 08/28/96
08/19/96 First Union National Bank 800,000 08/20/96
08/21/96 First Union National Bank 100,000 08/22/96
08/27/96 Fuji Bank 12,000,000 08/28/96
08/29/96 First Union National Bank 8,000,000 09/18/96
09/03/96 Chase Manhattan Bank 13,500,000 09/23/96
09/05/96 Bank of New York 8,400,000 09/06/96
09/06/96 Chase Manhattan Bank 5,400,000 09/23/96
09/09/96 Bank of New York 3,700,000 09/10/96
09/10/96 Bank of New York 2,900,000 09/11/96
09/11/96 Bank of New York 900,000 09/12/96
09/17/96 Canadian Imperial Bank 9,300,000 10/02/96
09/18/96 Chemical Bank New Jersey 5,000,000 10/09/96
09/18/96 Fuji Bank 3,000,000 09/19/96
09/23/96 Bank of New York 15,400,000 09/24/96
09/24/96 Bank of New York 14,000,000 09/25/96
09/27/96 Union Bank of Switzerland 3,000,000 09/30/96
09/27/96 Bank of New York 12,000,000 09/30/96
09/30/96 First Union National Bank 12,100,000 10/04/96
09/30/96 Bank of New York 4,000,000 10/01/96
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
-9-<PAGE>
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 July 1, 1996 through September 30,
1996,
the Companies repaid unsecured promissory notes issued to banks,
as follows:
GPU
Date Bank Amount
07/01/96 First Union National Bank $ 100,000
07/08/96 Hamilton Bank 10,000,000
07/17/96 PNC Bank 2,500,000
07/17/96 Fuji Bank 12,400,000
07/22/96 Merchants National Bank 200,000
07/22/96 First Union National Bank 6,600,000
07/25/96 First Union National Bank 7,200,000
07/29/96 Merchants National Bank 300,000
07/29/96 First Union National Bank 400,000
07/29/96 Merchants National Bank 200,000
07/29/96 PNC Bank 9,700,000
07/30/96 Bank of New York 4,700,000
08/06/96 PNC Bank 7,500,000
08/07/96 Mellon Bank, N.A. 9,100,000
08/07/96 First Union National Bank 6,700,000
08/08/96 Union Bank of Switzerland 6,400,000
08/19/96 PNC Bank 5,800,000
08/20/96 Fuji Bank 7,600,000
08/28/96 Banca Popolare Di Milano 10,200,000
08/28/96 Merchants National Bank 100,000
08/28/96 Merchants National Bank 100,000
08/28/96 Merchants National Bank 400,000
08/28/96 Merchants National Bank 100,000
08/28/96 Canadian Imperial Bank 10,000,000
08/29/96 Union Bank of Switzerland 6,500,000
08/30/96 Bank of New York 6,500,000
09/05/96 Bank of Pennsylvania 5,900,000
09/06/96 Bank of New York 800,000
09/06/96 PNC Bank 5,800,000
09/06/96 First Union National Bank 5,000,000
09/16/96 Banca Popolare Di Milano 4,700,000
09/20/96 Chase Manhattan Bank 11,800,000
09/23/96 Bank of Pennsylvania 7,300,000
09/26/96 First Union National Bank 5,900,000
09/26/96 Fuji Bank 9,600,000
09/27/96 Bank of New York 1,000,000
09/30/96 Bank of New York 1,800,000
-10-<PAGE>
JCP&L
Date Bank Amount
07/01/96 Bank of New York $ 6,400,000
07/03/96 PNC Bank 6,500,000
07/05/96 Chase Manhattan Bank 5,000,000
07/08/96 Union Bank of Switzerland 3,600,000
JCP&L continued
Date Bank Amount
07/08/96 PNC Bank $22,700,000
07/09/96 Bank of Pennsylvania 6,000,000
07/09/96 Midlantic National Bank 5,700,000
07/09/96 PNC Bank 4,300,000
07/10/96 First Union National Bank 7,900,000
07/10/96 First Union National Bank 1,500,000
07/11/96 Mellon Bank, N.A. 9,100,000
07/11/96 Bank of Pennsylvania 2,100,000
07/11/96 Canadian Imperial Bank 3,900,000
07/12/96 United Jersey Bank 14,100,000
07/17/96 Chase Manhattan Bank 400,000
07/17/96 PNC Bank 5,900,000
07/18/96 Mellon Bank, N.A. 10,900,000
07/19/96 Citibank, N.A. 5,000,000
07/24/96 PNC Bank 5,300,000
07/24/96 First Union National Bank 3,900,000
07/25/96 Bank of Pennsylvania 6,900,000
07/29/96 First Union National Bank 10,400,000
07/30/96 Bank of Pennsylvania 4,300,000
07/30/96 First Union National Bank 900,000
08/06/96 First Union National Bank 1,600,000
08/06/96 Morgan Guaranty Trust 5,300,000
08/06/96 First Union National Bank 2,000,000
08/07/96 Mellon Bank, N.A. 4,600,000
08/07/96 Mellon Bank, N.A. 6,800,000
08/08/96 Union Bank of Switzerland 3,600,000
08/08/96 Midlantic National Bank 4,300,000
08/09/96 Midlantic National Bank 5,700,000
08/09/96 Chase Manhattan Bank 7,000,000
08/12/96 Fuji Bank 12,400,000
08/12/96 Bank of New York 7,600,000
08/13/96 Bank of New York 8,700,000
08/14/96 Chase Manhattan Bank 6,000,000
08/15/96 Bank of Pennsylvania 5,100,000
08/19/96 PNC Bank 11,000,000
08/19/96 Bank of New York 7,300,000
08/19/96 PNC Bank 7,300,000
08/20/96 Fuji Bank 4,500,000
08/22/96 Chase Manhattan Bank 6,600,000
08/22/96 First Union National Bank 3,900,000
08/23/96 First Union National Bank 4,100,000
-11-<PAGE>
08/26/96 Chase Manhattan Bank 13,700,000
08/27/96 Union Bank of Switzerland 1,000,000
08/27/96 Chase Manhattan Bank 4,300,000
08/28/96 First Union National Bank 500,000
08/28/96 First Union National Bank 3,200,000
08/29/96 Banca Popolare Di Milano 5,100,000
09/06/96 First Union National Bank 5,900,000
09/09/96 Chase Manhattan Bank 12,900,000
09/09/96 Chase Manhattan Bank 2,100,000
09/10/96 Bank of New York 1,800,000
JCP&L continued
Date Bank Amount
09/10/96 Union Bank of Switzerland $ 4,200,000
09/10/96 Fuji Bank 10,400,000
09/11/96 United Jersey Bank 12,300,000
09/12/96 First Union National Bank 3,500,000
09/13/96 Union Bank of Switzerland 4,300,000
09/13/96 Mellon Bank, N.A. 7,000,000
09/16/96 Mellon Bank, N.A. 5,200,000
09/18/96 Chemical Bank New Jersey 20,000,000
09/24/96 Union Bank of Switzerland 4,800,000
09/24/96 Hamilton Bank 7,400,000
09/25/96 Chase Manhattan Bank 9,000,000
09/27/96 Banca Popolare Di Milano 10,200,000
09/30/96 Citibank, N.A. 10,000,000
Met-Ed
Date Bank Amount
07/02/96 Bank of New York $ 6,100,000
07/02/96 Mellon Bank, N.A. 7,100,000
07/08/96 Bank of New York 7,300,000
07/09/96 Bank of New York 1,200,000
07/10/96 Chase Manhattan Bank 7,200,000
07/12/96 Chase Manhattan Bank 9,300,000
07/23/96 First Union National Bank 600,000
07/26/96 Bank of Pennsylvania 2,000,000
07/29/96 First Union National Bank 12,200,000
07/31/96 First Union National Bank 1,000,000
08/05/96 Bank of New York 7,000,000
08/06/96 Bank of New York 4,100,000
08/07/96 Citibank, N.A. 5,000,000
08/08/96 Bank of New York 3,300,000
08/09/96 First Union National Bank 700,000
08/12/96 First Union National Bank 6,700,000
08/12/96 Bank of New York 3,600,000
08/13/96 PNC Bank 3,900,000
08/13/96 Chase Manhattan Bank 6,700,000
08/14/96 First Union National Bank 5,000,000
08/14/96 Chase Manhattan Bank 10,000,000
-12-<PAGE>
08/14/96 Bank of New York 6,000,000
08/15/96 Mellon Bank, N.A. 10,000,000
08/19/96 Bank of New York 17,500,000
08/26/96 Bank of New York 22,500,000
08/28/96 First Union National Bank 7,700,000
08/30/96 Bank of New York 3,500,000
09/03/96 Bank of New York 9,000,000
09/04/96 Chase Manhattan Bank 7,600,000
09/06/96 Bank of New York 5,000,000
09/09/96 Bank of New York 2,000,000
09/10/96 Bank of New York 14,800,000
Met-Ed continued
Date Bank Amount
09/11/96 Bank of New York $ 9,000,000
09/13/96 First National Bank of Chicago 5,990,000
09/20/96 Fuji Bank 5,600,000
09/23/96 Bank of Pennsylvania 7,700,000
09/24/96 United Jersey Bank 5,600,000
09/24/96 Bank of New York 3,000,000
09/24/96 Chase Manhattan Bank 5,600,000
09/25/96 Bank of New York 12,200,000
09/25/96 Chase Manhattan Bank 8,400,000
09/30/96 Bank of New York 16,000,000
09/30/96 Chase Manhattan Bank 6,200,000
Penelec
Date Bank Amount
07/03/96 Bank of Pennsylvania $ 3,900,000
07/09/96 Bank of New York 5,100,000
07/10/96 Bank of New York 2,200,000
07/12/96 Chase Manhattan Bank 8,600,000
07/16/96 Midlantic National Bank 4,300,000
07/16/96 Morgan Guaranty Trust 9,100,000
07/19/96 Mellon Bank, N.A. 1,700,000
07/19/96 Canadian Imperial Bank 6,100,000
07/19/96 Mellon Bank, N.A. 2,900,000
07/22/96 First Union National Bank 6,700,000
07/22/96 Union Bank of Switzerland 700,000
07/23/96 First Union National Bank 2,500,000
07/24/96 First Union National Bank 10,600,000
07/26/96 Banca Popolare Di Milano 9,800,000
07/29/96 Citibank, N.A. 10,000,000
07/30/96 Bank of Pennsylvania 1,200,000
07/31/96 First Union National Bank 10,400,000
08/02/96 Morgan Guaranty Trust 7,500,000
08/05/96 Bank of New York 5,200,000
08/06/96 Chase Manhattan Bank 8,000,000
08/07/96 Chase Manhattan Bank 10,900,000
08/07/96 First Union National Bank 2,000,000
-13-<PAGE>
08/08/96 Bank of New York 12,200,000
08/09/96 Bank of New York 9,100,000
08/12/96 Morgan Guaranty Trust 7,200,000
08/12/96 Bank of New York 6,700,000
08/14/96 First Union National Bank 1,600,000
08/14/96 Bank of New York 19,000,000
08/15/96 Mellon Bank, N.A. 9,800,000
08/19/96 Chase Manhattan Bank 5,400,000
08/20/96 First Union National Bank 7,700,000
08/20/96 First Union National Bank 800,000
08/22/96 First Union National Bank 100,000
08/22/96 Chase Manhattan Bank 9,700,000
Penelec continued
Date Bank Amount
08/23/96 Chase Manhattan Bank $ 1,900,000
08/26/96 Union Bank of Switzerland 4,300,000
08/27/96 First Union National Bank 10,400,000
08/28/96 Citibank, N.A. 5,000,000
08/28/96 Fuji Bank 12,000,000
08/29/96 Citibank, N.A. 10,000,000
09/06/96 Bank of New York 8,400,000
09/10/96 Bank of New York 3,700,000
09/11/96 Bank of New York 2,900,000
09/12/96 Bank of New York 900,000
09/18/96 First Union National Bank 8,000,000
09/19/96 Fuji Bank 3,000,000
09/23/96 Chase Manhattan Bank 13,500,000
09/23/96 Chase Manhattan Bank 5,400,000
09/24/96 Bank of New York 15,400,000
09/25/96 Bank of New York 14,000,000
09/30/96 Union Bank of Switzerland 3,000,000
09/30/96 Bank of New York 12,000,000
To summarize the above transactions, at September 30,
1996 the GPU Companies had outstanding unsecured promissory notes
pursuant to informal bank lines of credit as follows:
GPU $ 76,600,000
JCP&L 32,000,000
Met-Ed 29,885,000
Penelec 30,400,000
-14-<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.
GPU, INC.
JERSEY CENTRAL POWER & LIGHT COMPANY
METROPOLITAN EDISON COMPANY
PENNSYLVANIA ELECTRIC COMPANY
By: /s/ T. G. Howson
T. G. Howson
Vice President and Treasurer
Date: October 8, 1996<PAGE>
