SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 17, 1997
ORANGE AND ROCKLAND UTILITIES, INC.
(Exact name of Registrant as specified in its charter)
Incorporated in New York 1-4315 13-1727729
(State or Other (Commission (IRS Employer
Jurisdiction of File Number) Identification
Incorporation) Number)
One Blue Hill Plaza, Pearl River, New York 10965
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (914) 352-6000
Items 1. - 4. Not Applicable.
Item 5. Other Events
On December 17, 1997, the Company issued the
press release filed herewith as Exhibit 99.11.
Item 6. Not Applicable.
Item 7. Financial Statements and Exhibits
Exhibit 99.11 - Press Release of the Company dated
December 17, 1997.
Item 8. Not Applicable.
SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
ORANGE AND ROCKLAND UTILITIES, INC.
By: /s/John T. Finnegan
John T. Finnegan
Assistant Treasurer
Dated: December 17, 1997
EXHIBIT INDEX
Page
Exhibit 99.11
Press Release of the Company dated December 17, 1997.
914-577-2430
Contact:
Michael Donovan
PSC APPROVES O&R STOCK REPURCHASE PLAN REQUEST
PEARL RIVER, NY December 17, 1997 --- The New York State
Public Service Commission today approved Orange and Rockland
Utilities, Inc.'s program for the repurchase of up to
700,000 shares of the Company's outstanding common stock and
the issuance of up to $25 million of unsecured debt to
finance the purchases.
The program will enable the Company to repurchase stock from
time to time through December 31, 1999 in the open market or
through privately negotiated transactions. The timing and
extent of the stock repurchased will depend upon financial
market conditions.
The stock repurchase program is designed to enhance
shareholder value and further solidify the Company's
financial and operational strength in the emerging
marketplace.
Orange and Rockland Utilities, Inc., whose 21,000 investors
own approximately 13.7 million shares of stock, is an
investor-owned utility serving 266,000 electric customers
and 113,000 natural gas customers in a 1,350 square-mile
region with a population of approximately 676,000 people in
southeastern New York State as well as adjacent sections of
northern New Jersey and northeastern Pennsylvania.
