CERTIFICATE OF NOTIFICATION
Filed by
SOUTHERN ELECTRIC RAILROAD COMPANY
Pursuant to Order of the Securities and Exchange Commission dated January 13,
1993 (HCAR No. 35-25734) in the matter of File No. 70-7911.
The following information is provided in response to the requirements of the
above stated order.
(1) Balance Sheet and Income Statement at June 30, 1996. Reference is
made to Exhibit A filed herewith.
(2) Reasonable detail concerning the activities undertaken by Railroad
Subsidiary during the applicable six-month period, including
commencement of construction of any Rail Line and information
concerning such Rail Line, such as its location and the Operating
Company and generating facility to be served thereby.
Southern Electric Railroad Company's Miller Railroad Project
Phase I construction of the rail line was completed in October, 1994
and the rail line is in service. Filing of the documents to convey the
assets to Alabama Power Company has been completed.
Southern Electric Railroad Company's McIntosh Railroad Project for
Savannah Electric and Power Company
Construction commenced in March 1996 and the project is expected to be
completed during the first quarter of 1997.
Southern Electric Railroad Company's Turnout Project for Southern
Electric Generating Company
The project was completed in November, 1995 and the line is in service.
Filing of the documents to convey the assets to Southern Electric
Generating Company has been completed.
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Southern Electric Generating Company (SEGCO)
SEGCO transferred operation and maintenance responsibility for its
Gaston line (known as SEGCO Railroad) to the Southern Electric Railroad
Company (SERCO) effective August 9, 1995. SEGCO granted an easement to
SERCO in conjunction with this transfer.
(3) Reference is made to Certificates of Notification previously filed with
the Commission dated February 5, 1993 relating to Alabama Power
Company; May 18, 1993 relating to Savannah Electric and Power Company;
and November 28, 1994 relating to Southern Electric Generating Company.
(4) No information to report at this time.
Dated August 15, 1996
SOUTHERN ELECTRIC RAILROAD COMPANY
By /s/ Wayne Boston
Wayne Boston
` Assistant Secretary
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Exhibit A
THE SOUTHERN ELECTRIC RAILROAD COMPANY
FINANCIAL STATEMENTS
JUNE 1996
Contents Page No.
Income Statement 1
Balance Sheet 2
Balance Sheet Details 3
Notes to the Financial Statements 4
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4
SOUTHERN ELECTRIC RAILROAD COMPANY
INCOME STATEMENT
JUNE 30, 1996
REVENUE
SERVICES RENDERED $99,975.31
TOTAL REVENUE 99,975.31
EXPENSES
AMORTIZATION EXPENSE-ORGANIZATION COSTS 862.01
TAXES OTHER THAN INCOME TAX 675.00
LEGAL EXPENSES 3,413.60
SCS FEES AND EXPENSES 46,667.57
OUTSIDE SERVICES 46,907.64
CORPORATE FEES AND EXPENSES 1,449.49
----------
TOTAL EXPENSES 99,975.31
NET INCOME (LOSS) $ 0.00
==========
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SOUTHERN ELECTRIC RAILROAD COMPANY
BALANCE SHEET
JUNE 30, 1996
ASSETS AND OTHER DEBITS
CURRENTS ASSETS:
CASH $ 52,806.32
ACCOUNTS RECEIVABLE-ASSOC.COMPANIES 63,122.39
-----------
TOTAL CURRENT ASSETS 115,928.71
-----------
TOTAL ASSETS AND OTHER DEBITS $115,928.71
===========
LIABILITIES AND STOCKHOLDER EQUITY
STOCKHOLDER EQUITY:
CAPITAL STOCK - 5,000 SHARES at $1 $ 5,000.00
RETAINED EARNINGS 0.00
-----------
TOTAL STOCKHOLDER EQUITY 5,000.00
CURRENT LIABILITIES:
ACCOUNT PAYABLE - NON-ASSOC. COMPANIES 16,636.08
ACCOUNTS PAYABLE - ASSOC. COS. 94,292.63
-----------
TOTAL CURRENT LIABILITIES 110,928.71
-----------
TOTAL LIABILITIES AND STOCKHOLDER EQUITY $115,928.71
===========
THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THE BALANCE SHEETS.
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SOUTHERN ELECTRIC RAILROAD COMPANY
BALANCE SHEET DETAILS
JUNE 30, 1996
CONSTRUCTION-WORK-IN-PROGRESS
CONSTRUCTION-WORK-IN-PROGRESS (CWIP):
ALABAMA POWER COMPANY $4,766,938.47
ALABAMA POWER COMPANY - EASEMENT 381,755.09
SAVANNAH ELECTRIC AND POWER COMPANY 1,298,917.76
SOUTHERN ELECTRIC GENERATING COMPANY 1,072,063.24
-------------
TOTAL CWIP 7,519,674.56
LESS: CWIP BILLED
ALABAMA POWER COMPANY $5,148,693.56
SAVANNAH ELECTRIC AND POWER CO. 1,298,917.76
SOUTHERN ELECTRIC GENERATING COMPANY 1,072,063.24
-------------
TOTAL CWIP BILLED 7,519,674.56
NET CONSTRUCTION-WORK-IN-PROGRESS $ 0.00
=============
CURRENT ASSETS
CASH - NATIONSBANK $52,806.32
==========
ACCOUNTS RECEIVABLE
ALABAMA POWER COMPANY $17,733.44
SAVANNAH ELECTRIC AND POWER COMPANY 35,244.80
SOUTHERN ELECTRIC GENERATING COMPANY 10,144.15
----------
TOTAL ACCOUNTS RECEIVABLE $63,122.39
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CURRENT LIABILITIES
SOUTHERN COMPANY SERVICES, INC. $90,689.05
ALABAMA POWER COMPANY 1,203.27
GEORGIA POWER COMPANY 1,731.98
GULF POWER COMPANY 242.00
MISSISSIPPI POWER COMPANY 214.76
SAVANNAH ELECTRIC & POWER COMPANY 127.01
SOUTHERN ELECTRIC GENERATING COMPANY 84.56
------------
TOTAL ASSOCIATED COMPANIES 94,292.63
NON-ASSOCIATED COMPANIES 16,636.08
TOTAL CURRENT LIABILITIES $110,928.71
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SOUTHERN ELECTRIC RAILROAD COMPANY
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1996
1. General Description
Southern Electric Railroad Company (SERC) is a wholly owned subsidiary
of The Southern Company (Southern). Southern is registered as a holding
company under the Public Utility Holding Company Act of 1935 (PUHCA).
Other companies owned by Southern include five operating companies, a
system service company, Southern Electric International, Inc., The
Southern Development and Investment Group, Inc., Southern Nuclear
Operating Company, Southern Electric Bahamas Holdings Ltd., Southern
Electric International Holdings, Inc. and Southern Electric Wholesale
Generators.
SERC is currently designing and constructing railroad facilities to be
owned by various operating company subsidiaries of Southern. During the
construction period, construction work in progress is reflected on the
books of the operating company. However, SERC continues to hold title.
After construction is completed, SERC will transfer title to the
appropriate operating company but hold an easement granting sole
authority to operate and maintain the facilities. All services are
provided at cost.
2. SERC has authorized capital stock of 100,000 shares of one dollar
($1.00) par value common stock. Southern owns all 5,000 shares
currently outstanding.
